Latest news with #Rites
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Business Standard
5 days ago
- Business
- Business Standard
Rites share price gains 12% in two days; what's driving investor interest?
Rites share price gained 7 per cent in trade on Thursday, June 5, 2025, logging a day's high at ₹316.15 per share on BSE. The stock gained nearly 12 per cent in two days after the company emerged as lowest bidder (L-1) in the financial bid of the QCBS tender floated by Gujarat Urban Development Company. At 12:09 PM, Rites shares were trading 4.99 per cent higher at ₹310.15 per share on the BSE. In comparison, the BSE Sensex was up 0.81 per cent at 81,656.47. The market capitalisation of the company stood at ₹14,932.36 crore. The 52-week high of the stock was at ₹398.5 per share and the 52-week low of the stock was at ₹192.3 per share. In the past one year, Rites shares have lost 3 per cent as compared to Sensex's rise of around 9 per cent. Why were Rites shares in demand? On Tuesday, after market hours, the company informed investors that it has emerged a L1 bidder for appointment of TPI agency for water supply scheme, underground drainage and sewage treatment plant projects for urban local bodies of Gujarat. The order was worth ₹28.5 crore (exclusive of GST) and has to be executed within 60 months. The order is subject to award after the due process of scrutiny and overall evaluation (technical and financial) by the Gujarat Urban Development Company as per the requisite requirements mentioned in the tender documents. "We are pleased to inform you that Rites is the lowest bidder (L-1) in the financial bid of the QCBS tender floated by Gujarat Urban Development Company Limited for 'Appointment of TPI agency for WSS/UGD/STP projects under Amrut 2.0/SJMMSVY under GUDC for ULBs of Gujarat', the filing read. ALSO READ | About Rites Rites Limited, a Navratna Enterprise under the Ministry of Railways, incorporated on April 26, 1974, is a multidisciplinary engineering and consultancy organisation, providing a comprehensive range of services from concept to commissioning in all facets of transport infrastructure and related technologies. The company's market capitalisation has placed it among the top 500 listed companies in India, a testament to the high-quality solutions and services it delivers, driven by its talented pool of professionals.
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Business Standard
16-05-2025
- Business
- Business Standard
Rites posts highest margin in 6 years in Q4FY25; stock jumps 11%
Rites share price today: Shares of engineering and consultancy services company, Rites, surged over 11 per cent to hit an intraday high of ₹277.50 on Friday after the company reported better-than-expected March 2025 quarter (Q4 FY25) results. At 1:50 PM on Friday, Rites stock was quoting at ₹276.69, up 11.5 per cent from the previous session's close of ₹248.26 on the National Stock Exchange (NSE). In comparison, the benchmark Nifty50 index was trading at 25,011.30 levels, down 50.80 points or 0.2 per cent. However, on a year-to-date (YTD) basis, the stock has fallen around 4 per cent. The company's total market capitalisation stood at ₹12,283.89 crore. Rites Q4 FY25 results update In the March 2025 quarter, Rites reported consolidated revenue from operations of ₹615 crore, down 4.3 per cent compared to ₹643 crore in the year-ago period. The revenue decline was due to lower revenue from quality assurance, a downturn in turnkey and almost no exports. Earnings from interest, tax, depreciation and amortisation (Ebitda) rose 6.2 per cent year-on-year to ₹189 crore. Its profit after tax (PAT) rose 3.4 per cent Y-o-Y to ₹141 crore. In FY25, the company's operating revenue came in at ₹2,324 crore, down from ₹2,539 crore in the previous financial year. The company reported a PAT of ₹424 crore against ₹495 crore in the previous fiscal. The management expects a pick-up in exports and turnkey during FY26. Brokerage views of Rites - Elara Capital According to analysts at Elara Capital, Rites is witnessing a recovery as margins and profits have increased Y-o-Y after falling for 10 quarters. The company posted the highest margin in the past six years. "We lower our FY26E and FY27E EPS estimates by 15 per cent and 20 per cent, respectively, due to decelerating margin in Consultancy and a higher share of lower-margin turnkey segment in the order book," the brokerage said. Elara Capital has maintained a 'Buy' rating on the stock with a higher target price of ₹335 from ₹325 earlier, on 28x (unchanged) March FY27E EPS. "The company has witnessed a record increase in order inflows during the year, along with expected rebound in exports from FY26, and the stock has underperformed the Nifty by 15% in the past six months," the brokerage added. About Rites Rites is a Navratna public sector enterprise. It is a leading player in the transport consultancy and engineering sector in India with diversified services and geographical reach. The company has experience spanning more than five decades. It has undertaken projects in over 55 countries in Asia, Africa, South America, and the Middle East region.
Business Standard
14-05-2025
- Business
- Business Standard
Rites consolidated net profit rises 5.24% in the March 2025 quarter
Sales decline 4.32% to Rs 615.43 crore Net profit of Rites rose 5.24% to Rs 132.71 crore in the quarter ended March 2025 as against Rs 126.10 crore during the previous quarter ended March 2024. Sales declined 4.32% to Rs 615.43 crore in the quarter ended March 2025 as against Rs 643.25 crore during the previous quarter ended March 2024. For the full year,net profit declined 15.50% to Rs 384.80 crore in the year ended March 2025 as against Rs 455.40 crore during the previous year ended March 2024. Sales declined 9.58% to Rs 2217.81 crore in the year ended March 2025 as against Rs 2452.85 crore during the previous year ended March 2024. Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Sales 615.43643.25 -4 2217.812452.85 -10 OPM % 30.1627.36 - 23.2226.26 - PBDT 211.54202.26 5 627.14731.02 -14 PBT 194.75186.69 4 565.02670.36 -16 NP 132.71126.10 5 384.80455.40 -16
Business Standard
14-05-2025
- Business
- Business Standard
Rites spurts after Q4 PAT climbs 29% QoQ to Rs 141 cr
Rites surged 6.28% to Rs 247.80 after the company's consolidated net profit jumped 29.19% to Rs 141.33 crore in Q4 FY25 as against Rs 109.39 crore posted in Q3 FY25. Revenue from operations rose 6.89% to Rs 615.43 crore in the quarter ended 31 March 2025 from Rs 575.76 crore posted in Q3 FY25. On a year-on-year basis, the company's net profit rose 3.40% from Rs 136.67 crore in Q4 FY24, while revenue from operations declined by 4.32% from Rs 615.43 in Q4 FY24. Profit before tax grew by 4.31% year on year (YoY) to Rs 194.75 crore during the fourth quarter of FY25. Total expenses declined by 7.32% YoY to Rs 447.90 crore in Q4 FY25, primarily due to a reduction in inventory costs, with changes in inventories of stock-in-trade reported at a negative Rs 52.37 crore. Supplies and services expenses stood at Rs 251.06 crore, registering a 14.14% YoY decline. While Employee benefits expense rose slightly by 2.08% YoY to Rs 126.85 crore during the quarter. On a full-year basis, the companys consolidated net profit fell 14.44% to Rs 423.66 crore, on a 9.58% decrease in revenue to Rs 2,217.81 crore in FY25 over FY24. Meanwhile, the company's board has recommended a final dividend of Rs 2.65 per share for the financial year 2024-25, subject to approval of the same by shareholders in the ensuing 51st Annual General Meeting of the company. RITES, a Miniratna (Category-I) Schedule 'A' public sector enterprise, is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 31 March 2025, the Government of India held 72.20% stake in the company.
Time of India
09-05-2025
- Business
- Time of India
Metro's mobility plan for city in final stages
Nagpur: In a crucial step towards addressing Nagpur's growing traffic and transport challenges, the high-level committee chaired by divisional commissioner Vijayalakshmi Bidari convened its second meeting on Friday to review the draft of the Comprehensive Mobility Plan (CMP). The plan, prepared by MahaMetro in collaboration with Rail India Technical and Economic Service (Rites), aims to create a long-term strategy for efficient, integrated, and sustainable mobility solutions for the city. "This was our second high-level review meeting. A comprehensive presentation was made to all stakeholders, and we have now asked for further final suggestions within the next week," said Bidari. She said a final meeting will be held before the plan is submitted to the chief minister and other senior ministers director of strategic planning Anilkumar Kokate elaborated on the technical aspects of the CMP. "The presentation incorporates traffic survey data, road analysis, and previous feedback from departments. This plan includes important elements like bus terminus locations, traffic flow patterns, and infrastructure gaps," he also highlighted one of the major proposed changes — redirecting intercity buses to terminate at the outskirts of the city, instead of entering the congested urban zones. This move is expected to ease central traffic pressure and streamline public transport are also being proposed in the coordination between different public transport systems, including city buses, metro lines, and shared mobility services. The CMP will serve as a roadmap not only for infrastructure development but also for policy and regulatory adjustments to support future mobility needs. Kokate said that another final meeting will be held within a month after which the proposal will be presented to the CM and other concerned meeting brought together key stakeholders including representatives from Nagpur Municipal Corporation (NMC), Nagpur Improvement Trust (NIT), MahaMetro, Public Works Department (PWD), DCP Traffic, Regional Transport Office (RTO), and others. The CMP presentation included consolidated feedback from all participating departments, reflecting a collaborative approach to designing the city's future mobility one more stakeholder meeting scheduled in the coming days, the plan is expected to be finalised and presented to the Chief Minister and relevant ministers next month. The city administration is positioning this plan as a foundational step in transforming Nagpur's urban transport landscape.
