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Rites Ltd Company background

Founded in: 1974
Managing director: Rahul Mithal
RITES Limited is a Miniratna (CategoryI) Schedule A Central Public Sector Enterprise was established under Ministry of Railways, Government of India, in April 26, 1974. The Company is a leading multidisciplinary engineering consultancy organization providing customized, competitive, diversified, and comprehensive, concept to commissioning services and integrated solutions in the transport and infrastructure sector in India and abroad. The services provided by RITES cover transport and infrastructure sectors such as railways, highways, airports, ports, ropeways, urban transport, inland waterways and renewable energy etc. RITES is a wholly owned subsidiary of Indian Railways, Ministry of Railways, Government of India and has so far served clients in more than 55 countries across Asia, Africa, Latin America, South America and Middle East region and is presently serving in Sri Lanka, Bangladesh, Nepal, Mozambique, Mauritius and Botswana.RITES Limited was incorporated by the Ministry of Railways, Government of India (MoR) and has the benefit of being associated with the Indian Railways, which is the fourth longest rail network in the world. Since the inception in 1974, it has evolved from its origins of providing transport infrastructure consultancy and quality assurance services.In India, the clients include various central and state government ministries, departments, instrumentalities as well as local government bodies and public sector undertakings. These include Indian Railways, NTPC, Dedicated Freight Corridor Corporation of India Limited, High Speed Rail Corporation of India Limited, Public Works Department, DMRC, Steel Authority of India Limited, Rashtriya Ispat Nigam Limited, Hindustan Petroleum Corporation Limited, Bharat Coking Coal Limited, Metro Link Express for Gandhinagar and Ahmedabad (MEGA) Company Limited, Indian Port Rail Corporation Limited, Airports Authority of India, among others. We also engage with various large private sector corporations including LT Metro Rail (Hyderabad) Limited, Kanti Bijlee Utpadan Nigam Limited (KBUNL), Cimmco Limited, Titagrah Wagons Limited, Snowmex Engineers Limited, Unity Infraprojects Limited, Rajdeep Buildcon Private Limited, Mahalsa Constructions Private Limited, Marymatha Constructions Limited, AFCON Infrastructure Limited, INCAP, ARK Services, MNEC Consultants Private Limited, Indian Geotechnical Services Limited, Geokno India Private Limited and NATRIP Implementation Society among others. RITES Limited was incorporated as a Private Limited Company with the name Rail India Technical and Economic Services Private Limited on April 26, 1974. The word Private was deleted from name of the Company on February 17, 1976. During the year 197576, the company entered into a consultancy agreement for conducting technoeconomic study for Syrian Railways.During the year 198586, the company established geotechnical centre for field and laboratory investigations. During the year 199495, the company bagged an export contract for supply of diesel locomotives to Nepal Railways. During the year under review, the company bagged a consultancy project for providing services in relation to the Mass Rapid Transit System for Delhi Government.During the year 199899, the company entered into a contract with Delhi Metro Phase I project for providing construction management and consultancy services to Delhi Metro Rail Corporation Limited. The name of the company was changed to its present name, RITES Limited on March 28, 2000.During the year 200405, the company bagged an order to provide design consultancy services for the 12.5 km long railway tunnel in India, the Pir Panjal railway tunnel.During the year 200506, RITES Limited was granted Mini Ratna categoryI status. During the year under review, the company executed its first overseas contract agreement for the lease of Locomotives in Mozambique. During the year under review, the companys proposal for providing design, construction supervision and post construction services for FrancistownRamakgwebana Road project, Botswana was accepted.During the year 200708, RITES Limited was upgraded to Schedule A Public Sector Enterprise. The company was converted into a public limited company on February 5, 2008.During the 200910, the company formed a Joint Venture Company (JVC) with SAIL for manufacturing of wagons, including high end specialized wagons for Indian Railways and other domestic and overseas customers. During the year 201213, the company formed a subsidiary in collaboration with Indian Railways for generation and procurement of power, including through renewable energy.In 201617, the company entered into an agreement with Metro Express Limited for providing construction management services for the Metro Express Project in Mauritius. During the year under review, the company bagged offshore construction management project of metro in Mauritius. During the year under review, the company entered into railway concessioning agreement on PPP model by forming an SPV for BhujNaliya corridor. During the year under review, the company secured highest value export order of about Rs 680 crore from Sri Lankan Railways for supply of locomotives and DMUs. During the year 201617, the company recorded higher ever revenue of over Rs 1500 crore in the history of the company.The Government of India offloaded 2.52 crore equity shares of RITES Limited via an initial public offer (IPO) during the period from 20 June 2018 to 22 June 2018. There was no fresh issue of shares from the company. The IPO was priced at Rs 185 per share. The shares were listed on the bourses on 2 July 2018. After the successful completion of the IPO, the Government of Indias stake in RITES Limited came down to 87.38% from 100%.On 25 September 2018, RITES Limited informed the stock exchanges that it has remitted second tranche of investment for an amount of Rs 24.70 lakh on 24 September 2018 to subscribe to the right issue of its joint venture company BNV Gujarat Rail Private Limited. Earlier, the Board of RITES Limited at its meeting held on 16 September 2016 had approved investment upto Rs 65 crore in the equity shares of the joint venture company to acquire its 26% stake. First tranche of investment of Rs 1.30 lakh was made in the joint venture company on 20 February 2017.During the year 201819, the Company completed projects like Design and designers association services during construction for state of Art 4.94 km long Rail cum Road Bridge across river Brahmaputra at Bogibeel near Dibrugarh, Assam for NF Rly which has been commissioned on 25th December, 2018 by the Honble Prime Minister and (ii) Feasibility Study of Mumbai Chennai High SpeedRailway line (1300 km) and Final Location Survey and GT Investigations for Mumbai Ahmedabad High Speed Railway line (508 km) for National High Speed Railway Corporation (NHRCL), using Aerial LiDAR survey (iii) Final Alignment Design and GAD of critical bridge of Mumbai Ahmedabad High Speed Railway Line for JIC led Japanese Consortium. It secured new business for supply of 160 Broad Gauge passenger coaches to SriLanka and Locomotives spares to Myanmar Railways.During the year 201920, Company completed supply of six DEMU trainsets (Diesel Electric Multiple Units) and 10 locomotives to Sri Lanka and based on the quality of the product supplied. It executed many prestigious projects, which include consultancy for capacity enhancement through SemiHigh speed and High Speed Railway Lines, detailed design of alignment for Delhi Ghaziabad Meerut Line for RRTS Corridor. It also worked upon the DPRs for 9 railway tunnels, railbased Mass Transit Systems for Gorakhpur, Allahabad, Chennai, Vijayawada, Jammu, Srinagar, Thane, Nagpur, Mumbai, Kanpur and Agra, rail infrastructure for DVC, NTPC, CIL and Others at different locations, railway station development project for Ayodhya and Varanasi, and road projects under Bharatmala Scheme inWest Bengal, Punjab Haryana. It completed 188kms of Railway electrification and 83kms of track work.During the year 202021, the Company provided consultancy services for various railway projects including Dedicated FreightCorridor (DFC), HighSpeed Passenger Corridors, Semi HighSpeed Corridors, Rail connectivity for Industry/ports for bulk movement of freight, capacity augmentation projects, Railway electrification, Signaling and telecommunication, Metropolitan Transport Projects, Production Units Workshop Modernization, Traffic studies, Port Connectivity Projects, Energy and sustainability, Detailed Engineering of bridges, tunnels and geotechnical investigations, including condition monitoring of railway bridges other assets in domestic business. It commissioned Ropeway Projects at Jammu (JK), Rajgir (Bihar), PMC for Central University at Pondicherry, Gulbarga, Kasargod, Gaya, Allahabad, NIT/Meghalaya, Business Park of NSIC, Heritage Building of Allahabad University, Quality Assuranceof new AIIMS at Manglagiri, Madurai, Bibinagar, Deoghar, Gorakhpur, Raibaraeli, Bathinda, Bilaspur, Nagpur, Kalyani and Guwahati, maintained Rolling Stock Workshop Equipment at various locations of NTPC like Rihand, Singrauli, Sipat, Talcher, Kahalgaon Farakka. It provided services for Detailed Project Reports (DPRs) for railway tunnels for East Coast Railway, 3 highway tunnels for NHIDCL, establishment of the CORE Network for MumbaiAhmedabad and final alignment design for DelhiAhmedabad High Speed Rail Corridors, and National Rail Plan for Ministry of Railways. On the turnkey front, it completed electrification works between Sawai Madhopur Jaipur Ringas Section (188 km) and Vijaypur Maksi section (188 km) and further secured work for electrification ofaround 489 RKM.During the year 2021, the Company has acquired 24% stake in Indian Railway Stations Development Corporation Limited (IRSDC), a company involved in modernization of railway stations and development of assets along the railway stations for Rs. 48 crore.During the year 2021, the Company not only signed contract for supplying 06 Cape Gauge ACAC Traction Diesel Electric Locomotives and 90 Cape Gauge Passenger Coaches, including 05 sets of DEMUs, to CFM Mozambique but supplied 2 locomotives despite supply chain disruptions. Besides export of rolling stock, it consolidated its position abroad in consultancy projects by taking up projects such as Project Management Consultancy (PMC) for 4Lane National Highway project in Bangladesh and Construction Supervision Services for Metro Express project in Mauritius, Design PMC services for Development of Infrastructure at airport in Mauritius, Design and PMC for development of Integrated Check Post at Nepalgunj in Nepal and Consultancy for old runway rehabilitation at Gautam Buddha International Airport, Nepal.In 202223, RITES commissioned Consultancy services for Shivamogga Airport opened Consultancy services for Mauritius Metro Phase III Project supplied 1 locomotive, 4 DEMU trainsets and 25 passenger coaches to CMF, Mozambique. Further, Railway doubling works of GottyDharmavaram commissioned in 2023 Construction of DEMU/MEMU Shed at Lumding, in Assam commenced MavaliBari Sadri Railway Electrification Works commissioned and Highway Khardungla Projects commissioned.
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Rites Ltd FAQs

Rites Ltd shares are currently priced at 788.85 on NSE and 788.95 on BSE as of 2/29/2024 12:00:00 AM. Please be aware that stock prices are subject to continuous fluctuations due to various factors.

The past 1-year return of Rites Ltd [RITES] share was 135.72. The Rites Ltd [RITES] share hit a 1-year low of Rs. 326.25 and a 1-year high of Rs. 825.95.

The market cap of Rites Ltd is Rs. 18956.21 Cr. as of 2/29/2024 12:00:00 AM.

The PE ratios of Rites Ltd is 40.4 as of 2/29/2024 12:00:00 AM.

The PB ratios of Rites Ltd is 7.63 as of 2/29/2024 12:00:00 AM

The Mutual Fund Shareholding was 4.75% at the end of 2/29/2024 12:00:00 AM.

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