Kolkata: State-run Braithwaite & Co Ltd is aiming at a four-fold increase in its revenue to Rs 2,500 crore and planning to hit the capital market with an Initial Public Offer by the 2025-26 fiscal, a top company official said on Thursday. The public sector undertaking has made a turnaround in the last three years and posted Rs 609 crore revenue in 2020-21, he said.
The PSU company under the administrative control of the Ministry of Railways is expecting to touch Rs 700 crore topline in the current fiscal.
“We have already achieved Rs 488 crore revenue till the third quarter (October-December) of the current financial year and are on track to post Rs 700 crore turnover by March. We are confident to have a topline of Rs 2,500 crore by FY26,” Braithwaite & Co Ltd chairman and managing director Yatish Kumar said.
The company now has an order book of Rs 1,700 crore.
“We will go for listing to raise money via IPO after achieving a revenue of Rs 2,500 crore and a healthy profit for better valuation,” he said.
The PSU firm has diversified its operation from wagon manufacturing to consultancy and infrastructure building segment, which helped it register a five-fold increase in turnover in the last three years.
The company’s revenue in 2017-18 was Rs 130 crore with Rs 2.6 crore profit, and it clocked Rs 609 crore turnover in the last fiscal and a net profit of Rs 31 crore.
Kumar said the company is now a debt-free entity as it repaid loans worth Rs 50 crore from the government and banks.
The Kolkata-headquartered firm has been granted the Mini Ratna-I status, and such recognition will help it achieve the next phase of growth.
“This will help the board of Braithwaite take decisions for capital investment, technology joint ventures and strategic alliances,” the official said.
The Mini Ratna-I status will also facilitate Braithwaite to structure and implement schemes for human resource management and training, he added.
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