Oriental Rail Infrastructure has secured an order worth ₹3.68 crore from Western Railways, Mahalaxmi, Indian Railways.

What Happened: The company made the announcement on Thursday evening. The contract involves the provision and installation of stainless steel 3-seater/2-seater seats in Siemens type coaches. “We wish to inform you that Oriental Rail Infrastructure Limited has secured an order worth ₹3.68 crore from ‘Western Railways (WR), Mahalaxmi, Indian Railways',” the company stated in the disclosure.

The contract dictates that 80% of the payment will be made against an inspection certificate issued by the nominated inspection agency as specified in the contract and proof of dispatch/delivery of the material. The remaining 20% will be paid following receipt, inspection, and acceptance of the goods.

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Earlier in September 2024, the company bagged a contract worth ₹9.41 crore from the Modern Coach Factory (MCF), Raebareli, Indian Railways for manufacturing and supplying 164 sets of ‘Seats and Berths' for LHB Non-AC 3-Tier Sleeper (LWSCN) coaches. The order is expected to be fulfilled by June 30, 2025, according to the company's exchange filing.

In the same month, Oriental Rail Infrastructure Limited also secured a contract from the Integral Coach Factory (ICF), Chennai, Indian Railways. The company clinched a domestic contract for the provision and installation of 16 sets of ‘Seats and Berths' with hardware for the LWSCN PP coach. The order, valued at ₹1.42 crore, was slated for execution by October 13, 2024.

Price Action: Oriental Rail’s share price was down 4.40% to close at ₹268.15 on Thursday.

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