Texmaco CEO Ramesh Maheshwari (left) with vice-chairman S.K. Poddar in Calcutta on Friday. Picture by Kishor Roy Chowdhury

Calcutta, July 28: K.K. Birla-owned Texmaco has lined up over Rs 200 crore to foray into manufacturing of EMU and metro coaches.

It also plans to double its wagon making capacity, vice-chairman Saroj K. Poddar said after the company’s 66th annual general meeting today.

“We are hoping to get the first order for EMU coaches this year itself. Going forward, we will also take up metro coaches,” Poddar said.

The company is considering a technical tie-up for metro coaches.

Texmaco is a leading wagon maker in the country and railway coaches will be a new arena.

It has participated in a recent tender floated by the railways for EMU coaches.

“Our infrastructure is ideally suited for coach manufacturing,” Ramesh Maheshwari, president and CEO of Texmaco, said.

The order book position of the KK Birla firm is Rs 1,100 crore, which includes Rs 483 crore worth orders from National Hydel Power Corporation.

It has also received orders worth Rs 187 crore for wagons from private parties.

Even as the railway order for this year is yet to be placed, it could be the largest ever acquisition by the railways.

Maheshwari also said a new steel foundry unit would come into production by the year-end. It had an investment of Rs 55 crore.

First quarter net

Texmaco’s net sales went up by 39 per cent to Rs 86.95 crore in the first quarter of 2006-07 from Rs 62.48 crore in the corresponding period last fiscal. In the same period, net profit grew to Rs 4.47 crore from Rs 2.36 crore, representing a growth of 89 per cent.