“Secures New Order”

Rail India Technical and Economic Service Limited (RITES Ltd) – a wholly owned subsidiary of the Indian Railways, today in its regulatory filing has said that the company has secured a new business order for “Construction of Depot cum Workshop” worth of INR 499.41 Cr from Bangalore Metro Rail Corporation Limited (BMRCL)

The share of RITES Limited in the order is 51%.

RITES LTD is currently trading at INR 372 (UP 8%) with a volume of 38,65,458 shares on the National Stock Exchange (NSE)

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14 June 2018

Rites Limited – a wholly owned Government of India Company, a Miniratna (Category – I) Schedule – A Public Sector Enterprise and a leading player in the Transport Consultancy and Engineering sector in India – is planning to raise INR 453.6 – 466.2 Cr (all OFS) via initial public offer (IPO)

RITES Limited – Company Profile

• Started in the year 1974, RITES Limited is a Government of India Enterprise, under the aegis of Indian Railways.
• RITES Limited an ISO 9001:2008 company, is a multi-disciplinary consultancy organization in the fields of Infrastructure, Transport, and related Technologies.

RITES Limited – Working Area

• RITES Limited is a multidisciplinary engineering and consultancy organization providing 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 airports, highways, ports, railways, ropeways, urban transport and inland waterways in India and abroad.
• The company also provides services of third party inspection, quality assurance, construction supervision & project management, operations & maintenance, leasing, export of rolling stock, solar & wind energy and modernization of railways workshop projects on turnkey basis.
• In overseas projects, RITES actively pursues and develops cooperative links with local consultants/firms, as means of maximum utilization of local resources and as an effective instrument of sharing its expertise.

RITES Limited – Company’s Expertise

• Design, engineering and consultancy services in transport infrastructure sector with a focus on railways, urban transport, roads and highways, ports, inland waterways, airports, and ropeways;
• Leasing, export, maintenance, and rehabilitation of locomotives and rolling stock;
• Undertaking turnkey projects on engineering, procurement and construction basis for the railway line, track doubling, 3rd line, railway electrification, up gradation works for railway transport systems and workshops, railway stations, and construction of institutional/ residential/ commercial buildings, both with or without equity participation; and
• Wagon manufacturing, renewable energy generation and power procurement for Indian Railways through collaborations by way of joint venture arrangements, subsidiaries or consortium arrangements

RITES Limited – Client List

In India, RITES Limited clients include various central and state government ministries, departments, instrumentalities as well as local government bodies and public sector undertakings.

• The list include Airports Authority of India, Bharat Coking Coal Limited, Dedicated Freight Corridor Corporation of India Limited, DMRC, Hindustan Petroleum Corporation Limited, High Speed Rail Corporation of India Limited, Indian Railways, Indian Port Rail Corporation Limited, Metro Link Express for Gandhinagar and Ahmedabad (MEGA) Company Limited, NTPC, Public Works Department, Rashtriya Ispat Nigam Limited, Steel Authority of India Limited, among others.
• The Company also engage with various large private sector corporations including AFCON Infrastructure Limited, ARK Services, Cimmco Limited, Geokno India Private Limited, Indian Geotechnical Services Limited, INCAP, Kanti Bijlee Utpadan Nigam Limited (KBUNL), L&T Metro Rail (Hyderabad) Limited, Mahalsa Constructions Private Limited, Marymatha Constructions Limited, MNEC Consultants Private Limited, Rajdeep Buildcon Private Limited, Snowmex Engineers Limited, Titagrah Wagons Limited, Unity Infraprojects Limited, and NATRIP Implementation Society, among others.

Company Promoters

The Promoter of the company is the President of India acting through the Ministry of Railway.

IPO Opening / Closing Date

IPO Details – Price, Minimum Bid and Other

Financial Performance

Revenues

RITES Limited shows steady revenue growth in recent years. Top-line has been increasing regularly for the past 5 years and jumped from INR 1083 Cr in FY 2013 to INR 1564 Cr for the period ended FY 2017. (653.31 Cr till Sept 2017)

Profits

Though the company has shown steady growth in revenue, the company fails to register consistent growth in profits in past 5 years. Starting from INR 233 Cr of profits in FY 2013, the company’s earnings stood at INR 362 Cr for the period ended FY 2017.

CONCLUSION –

Considering company’s valuation and financial parameters, FinBlab recommends NEUTRAL ratings on RITES Limited IPO

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Disclaimer: The contents and data presented here are just for your information & personal use only. While much effort is made to provide the information, I ( Vishal Dalwadi ) or “Fin Blab” do not guarantee the accuracy, correctness, completeness or reliability of any information or data displayed herein and shall not be held responsible.

The post RITES Limited IPO – Analysis, Update appeared first on Upcoming ipos: Latest news on stocks, economy & finance.

IRCTC made a blockbuster debut on Monday, closing 127 percent higher from its issue price. The IPO doubled investors’ money in a single day.

On October 14, 2019, the stock was listed at INR 644 on the Bombay Stock Exchange, a 101.25 percent higher over its issue price of INR 320 per share. The share gained as much as 132 percent to hit an intraday high of INR 743.80 while the day’s low was INR 625.

IRCTC is a Mini-Ratna Category-I Public Sector Enterprise and a wholly-owned subsidiary of the Indian Railways.

The company with its profitable and debt-free status along with healthy dividend payout is looking attractive for long term perspective. Finblab feels it is definitely a portfolio stock and will be a wealth generator in years to come.

The Indian Railway Catering and Tourism Corporation Limited also popularly known as “IRCTC” – a Mini Ratna (Category-I) Central Public Sector Enterprise under Ministry of Railways, Government of India is planning to raise INR 635.04 Cr (all OFS) via initial public offer (IPO)

IRCTC: Company Profile

Incorporated in the year 1999, state-owned Indian Railway Catering and Tourism Corporation Limited (IRCTC) is a wholly-owned subsidiary of Indian Railways.

The Company incorporated with the objective to upgrade, modernize and professionalize catering and hospitality services, managing hospitality services at railway stations, on trains and other locations and to promote international and domestic tourism in India through public-private participation.

IRCTC: Business Activities

IRCTC is the only entity authorized by Indian Railways to provide catering services to railways, online railway tickets and packaged drinking water at railway stations and trains in India.

The Company have also diversified into other businesses, including non-railway catering and services such as e-catering, executive lounges and budget hotels, which are in line with its objective to build a one stop solution for its customers.

IRCTC Operates In 4 Business Segments, Namely –

Internet Ticketing: IRCTC is the only entity authorized by Indian Railways to offer railway tickets online through its website and mobile application, the irctc app. IRCTC has a mobile app (Rail Connect) and a dedicated website to offer online railway ticket booking facility. The Company currently operate one of the most transacted websites in the Asia-Pacific region with a transaction volume of more than 25 million per month and 7.2 million logins per day.

Catering Services: IRCTC provides food catering services to Indian Railway passengers on trains and at stations. The Company provide catering services through mobile catering units, base kitchens, cell kitchens, refreshment rooms, food plazas, food courts, train side vending, and Jan Ahaars over the Indian Railways network.

The Company also offer e-catering services to passengers through its mobile application, namely Food on Track and its e-catering website, www.ecatering.irctc.co.in. It also operates executive lounges, budget hotels, and retiring rooms for the convenience of the travelling passengers on Indian Railways.

Packaged Drinking Water: It is an authorized manufacturer and distributor of packaged drinking water on trains and at railway stations. The company manufactures packaged drinking water under brand name “Rail Neer”

Travel and Tourism: IRCTC is specialised in rail tourism. It offers tourism and travel services across diversified segments such as air, land, rail, and cruise tour packages, hotel bookings and air ticket bookings.

Company Strengths

• Authorised by the Ministry of Railways to offer Indian Railway tickets online
• Authorised catering service provider to passengers traveling by Indian Railways
• Comprehensive tourism and hospitality service provider in India
• Exclusively authorized for manufacturing and supplying packaged drinking water at railway station and trains
• Robust operating system and internal controls
• Qualified and experienced employees and management team

Company Promoters

The President of India acting through the Ministry of Railways is the promoter of the company.

IPO Opening / Closing Date

IPO Details: Price, Minimum Bid and Other

IRCTC Limited: Financials

CONCLUSION –

Considering the company’s valuation and financial parameters, FinBlab recommends SUBSCRIBE ratings on Indian Railway Catering and Tourism Corporation Ltd (IRCTC) IPO

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Disclaimer: The contents and data presented here are just for your information & personal use only. While much effort is made to provide the information, I (Vishal Dalwadi) or “FinBlab” do not guarantee the accuracy, correctness, completeness or reliability of any information or data displayed herein and shall not be held responsible.

The post IRCTC Limited IPO – Company Profile, Price, Analysis, Update appeared first on Upcoming ipos: Latest news on stocks, economy & finance.