Bharat Electronics awards ₹177 crore contract to RITES for Andhra Pradesh manufacturing unit

Engineering firm RITES Ltd on Friday (July 25) said it has received a Letter of Intent from Bharat Electronics Limited (BEL) for providing Design and Project Management Consultancy (PMC) services, along with construction of a mass manufacturing facility for the EM SBU at BEL’s Palasamudram unit in Andhra Pradesh.The ₹177.225 crore contract, excluding GST and including PMC fees, will be executed over a period of 24 months from the date of the agreement. The project will be undertaken on a cost-plus basis. This is a domestic contract awarded by Bharat Electronics and covers comprehensive responsibilities, including design, PMC services, and facility construction.

Fourth Quarter Results
Net profit for the quarter rose 3.4% year-on-year to ₹141 crore.
Revenue for the period declined 4.3% from last year to ₹615 crore. The company had reported a topline of ₹643 crore in the base quarter.Also Read: RITES bags ₹29 crore contract from Gujarat Urban Development CompanyRITES’ Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) rose 5.4% on a year-on-year basis to ₹185.5 crore, while margins expanded by 564 basis points from last year to 30%.

The company also declared a final dividend for the financial year 2025, which was ₹2.65 per share. The record date for the said dividend is yet to be announced.

This will be subject to the approval of the same by shareholders in the ensuing 51st Annual General Meeting of the company. Upon approval of shareholders, the dividend declared will be paid within 30 days of declaration.

Also Read: RITES secures two major contracts from African and Indian Railways

Shares of RITES Ltd ended at ₹264.60, down by ₹9.00, or 3.29%, on the BSE.