RITES Limited — New Orders, 17-03-2025: Bagging/Receiving of orders/contracts

RITES has received an addendum to its contract with Ntokoto Rail Holdings Pty. Ltd., awarding additional work for the supply and commissioning of overhauled in-service Cape Gauge ALCO Diesel Electric Locomotives, complete with new Cape Gauge Bogies, Traction Motors, and Control Systems. The value of the revised order has increased from USD 5.40 million to USD 10.80 million. The execution time for the additional work is set for six months from receipt of the advance payment. This order strengthens RITES' presence in the international market, highlighting growth opportunities in the locomotive supply segment. Investors should note this positive development as it could enhance revenue streams in the coming months.