Braithwaite & Co Ltd, which was recently conferred the Miniratna Category I status, is expecting to achieve a near four-fold increase in turnover at ₹2,500 crore by FY-26. It also plans to hit the capital market with an initial public offering in 2025-26.
State-run Braithwaite expects to achieve 15 per cent growth in turnover during the current fiscal (FY-22) at ₹700 crore, ignoring the pandemic impacts. The company has achieved a turnover of ₹488 crore till December 2021.
Focus on service, new verticals
According to Yatish Kumar, Chairman and Managing Director, Braithwaite, the company has shifted its revenue generation from core manufacturing sector to service sector and new verticals and aims to make the ratio 50:50 in the near future.
It is to be noted that Braithwaite, which is into manufacturing of railway rolling stock, repairing/retro fitment of old rolling stock and manufacture of sub-assemblies of wagon components among others, was under the purview of BIFR/BRPSE during the period 1992 to 2006. Its business hovered in the range of ₹120-150 crore between FY-15 to FY-18.
Subsequently, a change in leadership catapulted the company, and it shifted its revenue generation strategy from core manufacturing sector to service sector and focused on new verticals. Since then, the company’s turnover has been improving steadily.
Moving forward, the company would continue to develop new state-of-the-art design wagons, as it is recognized as prototype-hub by central government, partnering RDSO in design and development of new freight car, he said.
Braithwaite has already initiated capital investment for various verticals and diversification of business including container manufacturing, resumption of civil construction and design and development of state-of-the-art new wagons. The company’s board will be able to take further decisions for capital investment and enter into technology joint ventures, strategic alliances as well as to obtain technology and know-how by purchase or other arrangements.
Railway Ministry has entrusted Braithwaite to manufacture containers, in its endeavour for “Atmanirbhar Bharat” and it has already initiated container manufacturing. It aims to become a container manufacturing hub in future.
Miniratna status
The conferring of Miniratna status will put Braithwaite in an advantageous position with respect to business opportunities, getting quality vendors, experienced and talented manpower, and competitive input cost of material among others.
It will facilitate the company to structure and implement schemes relating to personnel and human resource management, training, voluntary and compulsory retirement schemes.
Above all, it will help improve its credit worthiness, credibility, reputation and brand image.