Shares of Transrail Lighting are likely to remain in focus after the company secured new international orders worth around ₹459 crore, primarily in its Transmission & Distribution (T&D) business.
The contracts mainly comprise EPC projects for the construction of transmission lines in the MENA region.
With the latest wins, company's order inflows for the current financial year have reached ₹1,034 crore, while it also holds the lowest bidder (L1) position for projects worth around ₹400 crore.
"The order wins further strengthen our position in the International T&D market and reflect the confidence our customers place in our engineering and execution capabilities. With a strong unexecuted order book and a healthy bidding pipeline, we remain well positioned to sustain our growth momentum while continuing to deliver projects with operational excellence and maintaining our focus on profitable growth," said Randeep Narang, MD & CEO.
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Separately, the company's board on June 22 approved the acquisition of a 100 percent equity stake in Gactel Turnkey Projects from Ajanma Holdings.
The board also approved the execution of the share purchase agreement and other transaction documents, subject to the fulfilment of customary conditions and regulatory approvals.