Braithwaite aims to post Rs 10 crore net profit for current fiscal

Braithwaite & Co Ltd, a heavy engineering unit under the Ministry of Railways, aims to post Rs 10 crore net profit for the current fiscal on the back of strong order book, a top official said Wednesday.

"We are on strong revival path from the slow track of operation since last few years. We are aiming for a net profit of about Rs 10 crore in 2018-19, up from Rs 3 crore in FY18," Braithwaite chairman and managing director Yatish Kumar said. He was speaking to reporters on the sidelines of a Confederation of Indian Industry (CII)-organised conference on manufacturing excellence here.

He said several steps have been taken in the last few months which were yielding results and monthly turnover has trebled to Rs 36 crore. Kumar said wagon repair activity has picked up of late and is expected to add Rs 100 crore to the top line in the current fiscal. The PSU received 1,000 wagon repair orders from East Central Railways recently and was trying for a long-term contract in this regard.

The new wagon making capacity has also doubled to 80 per month and gradually it would go up to its optimum capacity of 200 wagons a month, he said.

Kumar said it has been possible due to internal efficiency but to attain optimum potential "we need capital and for that, we had already approached our promoter, Indian Railways". Braithwaite's total order book stands at about Rs 600 crore.