Texmaco Rail & Engineering has accepted the resignation of Kishor Kumar Rajgaria as Chief Financial Officer. His tenure ends on August 31, 2026.

The company confirmed the cessation in a filing with stock exchanges on August 31, 2026. This follows an earlier intimation issued on July 14, 2026, regarding his decision to step down.

Regulatory Disclosure

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It also references SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026.

Sandeep Kumar Sultania, Company Secretary and Compliance Officer, signed the intimation. The details regarding the resignation were previously disclosed to the exchanges in July.

Texmaco Rail & Engineering has executed a Memorandum of Understanding (MoU) with Bochumer Verein Verkehrstechnik GmbH (BVV) to explore potential collaboration in railway components. The agreement, dated August 27, 2026, outlines plans for a proposed joint venture entity in India.

Partnership details

The MoU establishes a framework for Texmaco Rail & Engineering Limited and BVV, a German specialist in railway wheels and related components, to pursue collaboration. The partnership focuses on railway wheels, wheelsets, axles, and related rail vehicle components. Key aspects include evaluating opportunities and technical requirements prescribed by Indian Railways, supplying products to the global railway industry, and providing associated technical services.

The agreement contemplates that BVV will provide or license relevant technology, technical know-how, manufacturing processes, and engineering expertise. Texmaco is expected to undertake localization, industrialization, manufacturing, assembly, testing, quality assurance, marketing, supply, and after-sales support in India.

Commercial terms and governance

The MoU does not prescribe any immediate fixed commercial consideration. Detailed commercial terms, including shareholding distribution, funding structure, minimum purchase commitments, pricing, supply capacity, delivery, and payment terms, are to be agreed upon in definitive agreements. The shareholding distribution in the proposed joint venture entity remains subject to further negotiation.

BVV is proposed to be one of Texmaco's preferred international suppliers, subject to a definitive supply agreement. The MoU contains exclusivity provisions during its term regarding the contemplated purpose. It is effective for 12 months from execution unless terminated earlier. Governance and board nomination rights in the proposed joint venture entity are also subject to negotiation under the Joint Venture Agreement.

Regulatory disclosures

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. Texmaco confirmed that it does not hold any shareholding in BVV, and the transaction does not constitute a related party transaction. BVV is not related to the promoter, promoter group, or group companies of Texmaco Rail & Engineering Limited.