Braithwaite eyeing Rs 10 cr net profit in 2018
Kolkata : State-run wagons manufacturer Braithwaite & Co. is expecting to clock a revenue of Rs 250-300 crore and a net profit of Rs 10 crore in the current financial year, an official said on Wednesday.
"The company's turnover was on average Rs 120-130 crore annually for the last 4-5 years. We are hoping to touch Rs 250-300 crore by this fiscal and projecting a net profit of Rs 10 crore," company's Chairman and Managing Director Yatish Kumar said.
The company posted a net profit of Rs 3 crore in the last financial year, he said.
The company, which is manufacturing wagons, cranes, foundry products, heavy structural for bridges and engineering applications, has been focusing on wagons repairing, he said.
The engineering company currently has an order book of Rs 600 crore, of which, wagons manufacturing order constitutes about Rs 400 crore, wagon repairing order Rs 100 crore and another Rs 100 crore of miscellaneous jobs, Kumar said.
"Demand for repairing of wagons has been increasing and sometimes they require immediate repairing. In terms of repairing wagons, we have jumped from 50 wagons a month to 200 monthly in the last two months.
"Now, we are progressing further to 350 wagons repairing this month," he said on the sidelines of Manufacturing Excellence organised by Confederation of Indian Industry here.
The city-based company is also extending its repairing services to on-site depots and bagged an order from East-Central Railway for repairing 1,000 wagons at its Mughalsarai depots, he said, adding that 350 wagons of the order have already been repaired.
The manufacturing company is expecting repairing orders from different divisions of Railways and is in discussions with them (different railway division) for long-term repairing contracts, he said.
In terms of manufacturing, Kumar said it was operating at 40 wagons a month and of late, it was able to expand it to 80 wagons a month though it has a capacity of manufacturing 200 wagons per month.
He said the company, under the Ministry of Railways, is looking to execute all the pending orders soon and is also eyeing container wagons manufacturing.