Rites share price soared by almost 7% during Thursday’s trading session following the company’s signing of a Memorandum of Understanding (MoU) with the Central Water and Power Research Station (CWPRS). This agreement aims to facilitate collaboration on engineering consultancy services as well as research and development initiatives related to water resources, marine, and inland waterways infrastructure.
The company announced in an exchange filing that this strategic collaboration will merge Rites’ proficiency in transport infrastructure consultancy and project management with CWPRS’ cutting-edge research capabilities in water resources to promote innovative solutions in marine, coastal, inland waterways, and hydropower infrastructure.
The goal is to improve project efficiency and sustainability through collaborative engineering consultancy, research, and development efforts.
Rites is a Navratna Public Sector Enterprise and a prominent player in the transport consultancy and engineering field in India, offering a variety of services and having a wide geographical presence. With 50 years of experience, the company has executed projects in more than 55 countries across Asia, Africa, Latin America, South America, and the Middle East.
Q3 Results
According to the exchange filing, Rites’ consolidated operating revenue, excluding other income, was ₹576 crore in Q3FY25, compared to ₹683 crore in Q3FY24, reflecting a decline of 15.7%. The total revenue reached ₹614 crore, down from ₹700 crore in Q3FY24. EBITDA and PAT are reported at ₹123 crore and ₹109 crore, with corresponding margins of 21.3% and 17.8%. The year-over-year revenue decline is linked to reduced earnings from quality assurance, a decrease in turnkey projects, and the absence of exports.
Order Book
During Q3FY25, the company has obtained over 110 orders (including work extensions) totaling more than ₹1933 crore, resulting in the highest order book ever recorded at ₹7978 crore as of December 31, 2024.
Rites share price today
Rites share price today opened at ₹213.20 apiece on the BSE, the stock touched an intraday high of ₹228 and an intraday low of ₹212.95 apiece.
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