Texmaco Rail & Engineering Limited has formed a landmark tripartite joint venture with Touax Group and TrinityRail Global, Inc. to transform India’s ₹3-lakh-crore freight rail ecosystem. The partnership, announced on June 3, 2026, establishes a first-of-its-kind global railcar leasing platform named Touax Texmaco Railcar Leasing Pvt. Ltd. (TTRL). TrinityRail, a subsidiary of Trinity Industries, Inc., has joined the existing Touax-Texmaco platform by acquiring a 32% participation stake. This strategic move aims to address the large-scale incremental demand for freight wagons as India targets increasing rail's share in freight movement from 27% to 45%.

The agreement integrates global manufacturing, leasing expertise, and railcar technology into a single operating platform. By combining Touax’s leasing proficiency, Trinity’s global rail technology leadership, and Texmaco’s manufacturing strengths, the venture is expected to provide best-in-class rolling stocks, reduce maintenance costs, and improve asset utilisation. The platform will also introduce new railcar designs and advanced lifecycle technologies to support lower emissions and improved sustainability outcomes. Access to global capital and competitive financing is expected to enhance leasing efficiency and accelerate market adoption.

Financials of Touax Texmaco Railcar Leasing Private Limited

Mr Saroj Kumar Poddar, Chairman of Texmaco Rail & Engineering Limited, stated that the partnership aligns with India’s long-term objective of increasing rail's share in freight transportation through private participation and innovation. Ms. Jean Savage, CEO & President of Trinity Industries, Inc., highlighted the company's commitment to bringing advanced wagon designs and lifecycle expertise to India. Mr Fabrice Walewski, General Partner & CEO of Touax Group, emphasized that the platform gains significant technological and financial scale to support India’s expanding freight needs.

The collaboration will leverage Texmaco’s pan-India presence and extensive production capabilities to strengthen domestic value creation and align with the objectives of Atmanirbhar Bharat. Through asset-light, accretive operating leasing models, customers will gain access to modern rolling stock without upfront capital investments. The initiative aims to improve returns, accelerate fleet adoption, and support India’s ambition to reduce logistics costs from 14% of GDP towards global benchmarks.

Texmaco Rail & Engineering Limited has received shareholder approval for the Texmaco Long Term Incentive Plan (LTIP) Scheme 2026. The special resolution was passed through a postal ballot process conducted exclusively via remote e-voting, concluding on May 24, 2026. The approval enables the company to implement the long-term incentive scheme for eligible employees.

The voting process was managed by M/s KFin Technologies Limited, acting as the authorized agency. Scrutiny of the votes was conducted by Niraj Agrawal, a practising Chartered Accountant and Partner at H. K. Agrawal & Co. The remote e-voting facility was open from 9:00 a.m. on April 25, 2026, until 5:00 p.m. on May 24, 2026. Physical postal ballot forms were not dispatched to members due to exemptions provided by Ministry of Corporate Affairs circulars.

A total of 189,728,212 votes were polled, representing 46.63% of the total outstanding shares. The resolution secured the requisite majority required for a special resolution, with 182,077,999 votes cast in favour and 7,650,213 votes against. No invalid votes were recorded during the process.

Voting Results Breakdown

The detailed voting pattern across different shareholder categories highlights the level of support for the resolution.

Procedural Details

The record date for determining eligibility was April 17, 2026, with 384,240 shareholders on record. To ensure wide participation, the company published advertisements in the Financial Express and Aajkal newspapers on April 22 and April 25, 2026. The scrutinizer noted that one member holding 1,739 shares exercised voting rights for only one share, with the remaining 1,738 shares classified as 'less voted'. Additionally, 8,001 abstained votes were not considered as votes cast.