RITES Limited has informed the Exchange about major order secured from Talis Logistics, South Africa
RITES · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
RITES Limited has received a Letter of Award from Talis Logistics, South Africa, for the supply and commissioning of overhauled in-service Cape Gauge ALCO Diesel Electric Locomotives. The contract is valued at USD 18 million on a CIF (Cost, Insurance, Freight) basis, with delivery scheduled to be completed within 6 to 8 months from the date of receiving the advance payment. The order has been awarded by an international entity and is not a related party transaction, with no promoter or group company interest involved. The order is denominated entirely in US dollars, making it a hard-currency export contract for RITES.
The order adds meaningfully to RITES's export revenue and reinforces its presence in the African railway market, with a relatively quick execution timeline of 6–8 months supporting near-term revenue recognition. Positively viewed, though the order size is moderate compared to RITES's overall order book.