The company stated that the contract does not constitute a related-party transaction and confirmed that neither its promoters nor members of the promoter group have any interest in the award of the contract.

Rites is a public sector enterprise and a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. The company is the only export arm of Indian Railways for providing rolling stock overseas (other than Thailand, Malaysia and Indonesia).

The official announcement was made on Saturday, 11 July 2026.

The company reported a 1.40% decline in consolidated net profit to Rs 139.35 crore, despite a 27.56% increase in revenue from operations to Rs 768.26 crore in Q4 FY26 compared with Q4 FY25.

The counter shed 0.57% to Rs 225.10 on BSE.