The Board of Directors of RITES Ltd, (NSE: RITES, BSE: 541556) a leading Infrastructure Consultancy and Engineering company, at its meeting held on March 12th, 2021 declared a second interim dividend of Rs 4 per share on the share with face value of Rs 10 each (at the rate of 40% of paid-up capital).
- The second interim dividend brings the company’s total dividend for FY21 so far, to Rs 9 per share amounting to Rs 216.27 crore.
- The record date for the purpose of payment of dividend is 20th March 2021.
- Standalone revenue of the company for the nine months of FY21 has been Rs 1315 crore and profit after tax has been Rs 290 crore.
- The company has commenced the export shipments to Sri Lanka and Mozambique.
- The 10 state-of-the-art railway passenger coaches have been successfully delivered to Sri Lanka and the first shipment of two 3000 HP Cape Gauge AC-AC locomotives has been flagged off to Mozambique.
Commenting on export shipments, Mr. Rajeev Mehrotra, Chairman & Managing Director, RITES Ltd, said, “For exports, new product lines in Railways are way forward and such products demonstrate India’s ‘design, manufacture and export’ capabilities. We hope the project of supplying Cape Gauge locomotives to Mozambique will open up more export opportunities, for us, in new markets.”
Features of 3000 HP Cape Gauge Locomotive:
- This locomotive is capable of hauling 2255 ton at 100 kmph at level track and maximum tractive effort of 400N.
- The driver cabin of this locomotive is Noise Vibration and Harshness standard compliant having very good acoustics, ergonomically designed seats, integrated Graphic Driver Display, and also provided with Heating Venting AC (HVAC) for better crew comfort and reducing fatigue.
- Facilities include on board water-closet (toilet module), refrigerator and hot plate.
- New control console has been designed and developed for Right hand drive.
- Equipped with Computer Controlled Brake system (CCB 2.0) for ensuring highest safety standards, reliability and maintainability.
- Larger fuel tank of 6000 liters for longer operation.
- Stainless steel pipes have been used for ensuring corrosion resistance.
- M/s Bureau Veritas/Noida an International inspecting agency appointed by Mozambique Railway is doing stage inspection of Mozambique Locomotives at BLW.
- Locomotives are cost effective and are at par with International Standards.
About RITES Limited:
- RITES Limited is a Miniratna (Category-I) Schedule ‘A’ Public Sector Enterprise and a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach.
- Company has an experience spanning 46 years and has undertaken projects in over 55 countries across Asia, Africa, Latin America, South America and Middle East region.
- RITES Limited is the only export arm of Indian Railways for providing rolling stock overseas (other than Thailand, Malaysia and Indonesia).
Source: RITES-Press Release | Image Credit: MoR
