Central PSU Braithwaite & Co Ltd has received an order worth Rs 180 crore to supply 500 wagons to the railways, a top company official said on Sunday. These are BCVM-C type wagons, also known as brake vans attached to rakes.
“We have secured an order of 500 wagons this month valued at Rs 180 crore”, Braithwaite chairman and managing director Yatish Kumar told PTI.
The company has been diversifying into services and construction for a sustainable turnaround and to attain high growth, as wagons were 95 per cent of the business in 2018 but now it has come down to 55 per cent.
The company is striving to boost the total order pipeline, which was Rs 1,734 crore as of December 2023.
“We had plans to reduce it to 50 per cent. Introducing new revenue verticals was important for a sustainable turnaround with better profitability,” Kumar said.
“Civil construction, bridge cranes, and operation and maintenance activities proved viable. Container manufacturing, solar PV plants, and railway station construction contracts are being executed,” he said.
Diversification holds the key to Braithwaite’s planned roadmap to become a Rs 2,500 crore listed CPSU by 2025-26.