Rites has announced a major contract win worth $20.6 million from ICVL Mozambique, marking a significant milestone in the company's international expansion. The comprehensive agreement covers both diesel electric locomotives supply and associated maintenance services, representing a substantial business opportunity in the African market.

Contract Overview

The contract details reveal a well-structured engagement with ICVL Mozambique spanning multiple phases:

Project Timeline and Scope

The project encompasses two distinct phases with separate completion schedules. The supply component, involving diesel electric locomotives, is set for completion within 15 months from commencement. Following the supply phase, Rites will provide comprehensive maintenance services over a 24-month period, ensuring optimal performance and reliability of the delivered equipment.

Strategic Significance

This contract represents Rites' continued growth in international markets, particularly in the railway infrastructure sector. The engagement with ICVL Mozambique demonstrates the company's capability to handle complex locomotive supply and maintenance projects in emerging markets. The dual-phase structure of the contract ensures sustained revenue generation over an extended period, combining immediate supply revenues with long-term maintenance income streams.

RITES Limited has announced that its Board of Directors will convene on February 4, 2026, to review the company's third quarter financial performance and consider dividend distribution for shareholders.

Board Meeting Agenda

The meeting, scheduled for Wednesday, February 4, 2026, will address two primary matters as outlined in the company's regulatory filing dated January 22, 2026.

Regulatory Compliance and Trading Window

In adherence to the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, specifically Regulation 29 read with Regulation 33, the company has issued this intimation to both NSE and BSE.

The company has implemented trading restrictions as per insider trading regulations:

• Trading Window Closure: Effective from January 1, 2026
• Applicable To: All Designated Persons and their immediate relatives
• Duration: Until 48 hours after the board meeting concludes
• Regulatory Basis: SEBI (Prohibition of Insider Trading) Regulations, 2015

Corporate Communication Details

The official communication was signed by Ashok Mishra, Company Secretary & Compliance Officer (Membership No.: F6411), and digitally authenticated on January 22, 2026, at 15:29:08 +05'30'.

Key Timeline

The meeting represents a significant corporate event as the company prepares to disclose its third quarter performance for the financial year 2025-26 and potentially reward shareholders through interim dividend distribution.