Navratna stock surges 7% after receiving ₹32.3 Cr order from Zimbabwe based firm

Synopsis: This Navratna Company gained investor attention after it announced an international supply order from Berhard Development Corporation (Private) Limited, Zimbabwe.

The shares of the public sector enterprise, and a leading player in the transport consultancy and engineering sector in India, which has diversified services and a geographical reach, in focus after $3.6 million order.

With the market capitalization of Rs 11,902, Rites Ltd’s share on Wednesday made a day high of Rs 254.60, up by 7.2 percent from its previous day’s close price of Rs 237.40 per share. The share has given a return of 81.68 percent over the last five years.

Significant Order

Rites Ltd received a letter of award worth $3.6 million ( around  Rs 32.38 crore) for the Supply of In-Service Cape Gauge Diesel Electric Locomotives” from Berhard Development Corporation (Private) Limited, Zimbabwe, to be executed in 3 months from the date of receipt. The international order is a non-party-related transaction.

This will add to its highest order book of Rs 9,090 crore recorded in Q2 FY26, with a segment breakup of 46 percent from the turnkey segment, 34 percent from the consultancy segment, 17 percent from exports, and the rest from REMCL & leasing. With major projects from rich clientele, including companies like NTPC, SAIL, Bharat Electronics, and Tata Ltd. etc. 

In the same quarter company’s Middle East MoUs have started delivering early gains, with projects underway alongside Etihad Rail and a new office established in the UAE. Meanwhile, its collaboration with DNV Italy is progressing smoothly, providing ISA certification support for the manufacturing of new Vande Bharat coaches.

About the Company

Rites Ltd, a Navratna company, is a multidisciplinary engineering and consultancy organisation providing a diversified and comprehensive array of services from concept to commissioning in all facets of transport infrastructure and related technologies.

The major business engagements as consultants, engineers, and project managers are in railways, highways, airports, ports, ropeways, urban transport, and inland waterways in India and abroad.  

Financial performance, revenue grew by 1 percent YoY to Rs 549 crore in Q2 FY26, corresponding to the same quarter in the last financial year. EBDIT grew by 22 percent YoY to Rs 130 crore in Q2 FY26 from Rs 106 crore in Q2 FY25. Accompanied by YoY Net profit growth of 35 percent to Rs 109 crore in Q2 FY26 and EPS growth of 34 percent to Rs 2.04 per share.

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