Business Update Braithwaite & Co. expects 15% growth in FY22 TOU

Business Update Braithwaite & Co. expects 15% growth in FY22  

 TOU

Braithwaite & Co. expects 15% growth in FY22

Braithwaite & Co. Ltd., which has recently been accorded Miniratna Category I status, expects to achieve a nearly four-fold increase in turnover of ₹ 2,500 crore by FY-26. It also plans to hit the capital market in 2025-26 with an initial public offering.

State-run Braithwaite expects to achieve 15% growth in turnover of ₹ 700 crore during the current financial year (FY-22), ignoring the effects of the epidemic. The company has achieved a turnover of ₹ 488 crore by December 2021.

Service, focus on new verticals

According to Braithwaite Chairman and Managing Director Yatish Kumar, the company has shifted its revenue from core manufacturing sector to service sector and new verticals and aims to increase the ratio to 50:50 in the near future.

Notably, Braithwaite, which manufactures railway rolling stock, repairs / retro fitting of old rolling stock and sub-assemblies of wagon components, was under the purview of BIFR / BRPSE from 1992 to 1992. 2006. Its business was in the range of ₹ 120-150 crore between FY-15 and FY-18.

Subsequently, the change of leadership attracted the company, and it shifted its revenue generation strategy from the core manufacturing sector to the service sector and focused on new verticals. Since then, the company’s turnover has been steadily improving.

Going forward, the company will continue to develop new state-of-the-art design wagons, as it is known by the central government as a prototype-hub, partnering with RDSO in the design and development of new freight cars, he said.

Braithwaite has already begun capital investment for a variety of verticals and businesses, including container manufacturing, resumption of civil construction, and design and development of state-of-the-art new wagons. The company’s board will be able to make further decisions for capital investment and acquire technology and information through technology joint ventures, strategic alliances as well as purchases or other arrangements.

The Ministry of Railways has entrusted Braithwaite with the responsibility of making containers in its effort for a “self-reliant India” and has started container production. It aims to become a container manufacturing hub in the future.

Miniratna position

Granting Miniratna status will put Braithwaite in a position to gain competitive input value of materials among business opportunities, quality vendors, experienced and talented manpower and others.

It will facilitate the company in designing and implementing plans relating to personnel and human resource management, training, voluntary and compulsory retirement plans.

Above all, it will help improve its creditworthiness, credibility, reputation and brand image.

Published on

January 15, 2022

.

if you want to read this article from the original credit source of the article then you can read from here

.