Texmaco rail & engineering Limited and Rail Vikas Nigam Limited (RVNL) have executed their Strategic Joint Venture Shareholders' Agreement on February 19, 2026, marking a significant milestone in India's rail manufacturing sector. The agreement formalizes a strategic partnership designed to accelerate India's rail manufacturing capabilities and strengthen its position as a global infrastructure solutions provider.

Partnership Structure and Objectives

The joint venture agreement establishes a unified platform that combines complementary strengths of both organizations. Under the partnership structure, Texmaco holds a 49 percent stake while RVNL retains majority ownership, designed to leverage public-sector execution depth with private-sector manufacturing agility.

Strategic Focus Areas

The joint venture will concentrate on three primary business segments that align with India's infrastructure development goals:

• Advanced rolling stock segments including freight, locomotive, passenger, and metro systems
• Lifecycle maintenance and asset management solutions for comprehensive rail operations
• Large-scale EPC and turnkey infrastructure projects targeting both domestic and international markets

Leadership Perspectives

Mr. Saroj Kumar Poddar, Chairman of Texmaco Rail & Engineering, emphasized that the alliance brings together Texmaco's industrial manufacturing scale and export reach with RVNL's proven execution track record in complex rail EPC projects. The partnership creates a powerful institutional platform aligned with the Government of India's Aatmanirbhar Bharat vision.

Mr. Indrajit Mookerjee, Vice Chairman & Executive Director of Texmaco Rail & Engineering, described the partnership as a transformational step in building globally competitive rail capabilities from India. He highlighted that by aligning manufacturing excellence with execution expertise, the collaboration creates a platform capable of delivering integrated rail solutions for both national priorities and international markets.

Expected Impact and Benefits

The initiative is designed to catalyze India's emergence as a global hub for rolling stock and rail infrastructure through several key mechanisms:

Global Market Expansion

Beyond domestic opportunities, the joint venture will actively pursue projects across Asia, Africa, and the Middle East. The partnership targets integrated rail manufacturing and infrastructure contracts, reinforcing India's position among the world's leading providers of end-to-end rail solutions. The collaboration combines design innovation, execution speed, and engineering excellence to advance the Viksit Bharat @ 2047 vision while strengthening India's global industrial footprint.

Company Backgrounds

RVNL operates as a premier public sector enterprise (Navratna CPSE) under the Ministry of Railways, primarily engaged in implementing rail infrastructure projects across the country. The organization has contributed significantly to the expansion of India's railway and metro systems, both domestically and globally.

Texmaco Rail & Engineering Limited operates as a key player in the railway and infrastructure sector across Freight Cars, Rail Infra & Green Energy, and Infra–Electrical segments. The company specializes in rolling stock, rail infrastructure, bridges, and steel structures, supplying freight cars to Indian Railways, private clients, and export markets through strategic joint ventures with global leaders including Wabtec and Touax.

Texmaco Rail & Engineering Limited has secured a substantial contract worth ₹27.67 crore from South Western Railway for comprehensive maintenance of overhead equipment and power supply installations. The two-year contract encompasses the Mysore Division's entire electrification infrastructure, covering 1,046 track kilometres of railway network.

Contract Details and Scope

The order involves undertaking comprehensive annual maintenance and breakdown restoration of Overhead Equipment (OHE) and power supply installations across the Mysore Division. The contract value stands at ₹27.67 crore inclusive of GST, equivalent to ₹23.45 crore excluding taxes.

Service Portfolio and Responsibilities

Under this mandate, Texmaco will undertake multiple categories of maintenance services to ensure reliable and uninterrupted operation of traction power systems. The scope includes:

• Routine maintenance of overhead equipment
• Emergency breakdown restoration services
• Preventive maintenance of power supply installations
• Maintenance of associated electrical assets across the division

Expanded Market Presence

This new contract significantly enhances Texmaco's footprint in railway electrification services. With the addition of this order, the company's cumulative OHE and power supply maintenance portfolio has expanded to 3,702.62 TKM across multiple railway divisions and corridors of Indian Railways.

The expanded portfolio now includes:

• Bengaluru Division maintenance contracts
• Select sections of Dedicated Freight Corridor Corporation of India Limited
• The newly acquired Mysore Division contract

Regulatory Compliance

The company has disclosed this order under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. The contract represents a domestic order with no related party transactions involved. The promoter group has no interest in the entity that awarded the contract, ensuring arm's length transaction principles.

This contract reinforces Texmaco Rail & Engineering Limited's growing credentials in railway electrification services and demonstrates the company's capability to handle large-scale infrastructure maintenance projects across India's expanding railway network.