Texmaco Rail wins ₹130 crore Kochi Metro Phase-2 contract

What Texmaco Rail announced

Texmaco Rail & Engineering Ltd said it has secured a ₹130.22 crore contract from Kochi Metro Rail Ltd (KMRL) for ballastless track work on the elevated section of the Kochi Metro Phase 2 corridor. The company disclosed the development through a stock exchange filing on Friday. The scope includes design, supply, installation, testing and commissioning of ballastless track and standard gauge connections. Texmaco also stated that the order does not involve any related-party transaction or promoter group interest. The work is to be executed within 16 months from the date of issuance of the letter of acceptance.

Scope of work on the elevated corridor

The contract covers ballastless track installation for the elevated section of Kochi Metro Phase 2. Texmaco’s responsibilities extend from design and supply to on-ground installation and final commissioning. The filing also mentions standard gauge connections as part of the package. For metro rail projects, ballastless track systems are typically used in elevated stretches where track stability, lower maintenance and tighter tolerances matter. The announcement ties the order directly to Phase 2 of the Kochi Metro Rail Project.

Kochi Metro Phase 2: key project details

Kochi Metro Phase 2 is estimated to cost ₹1,957.05 crore, according to the details cited in the report. The corridor spans 11.2 km and includes 11 stations. It is planned to connect Ernakulam with Infopark and SmartCity via Kakkanad. The order relates to the elevated section of this corridor, aligning Texmaco’s work with one of the core civil and systems components required for commissioning.

Timeline and execution window

Texmaco said the order must be executed within 16 months from the letter of acceptance. The timeline matters because trackwork typically sits on the critical path once viaduct sections and stations are ready for systems integration. The company’s scope also includes testing and commissioning, which generally takes place closer to the end of the project schedule. Any completion will therefore be linked to overall site readiness and coordination with the project authority, as with most metro delivery programs. The filing itself does not indicate the start date, only that the 16-month clock begins from the letter of acceptance.

Stock market reaction to the order

After the order disclosure, Texmaco Rail & Engineering shares rose 1.13% to ₹116.20, as reported. The move reflects immediate investor attention to the order inflow and visibility on execution. The report does not provide trading volumes, valuation metrics, or broader market context for the session. It also does not quantify the company’s overall order book size. Still, the price move signals that the market treated the announcement as incremental positive information.

Tender context and competing bids

Separate tender reporting described Texmaco as the lowest bidder (L1) for this Kochi Metro Phase 2 ballastless track package, quoting about ₹130.2 crore. The tender referenced was Tender No. KMRL/PROC/TENDER/2025-26/038, covering design, supply, installation, testing and commissioning of standard gauge ballastless track along the elevated corridor between Jawaharlal Nehru Stadium Metro Station and Infopark Metro Station. Kochi Metro’s estimated contract value was ₹127.91 crore, and Texmaco’s bid was slightly above that estimate but remained the lowest among the bidders listed. These bid figures provide context for how the final contract value aligns with the competitive process.

Other recent orders cited alongside the metro win

The same set of reports also referenced other orders associated with Texmaco Rail & Engineering. One announcement cited a ₹57.15 crore contract from Vedanta Aluminium Metal Limited for supply and commissioning of railway rake systems, including two BTAP rakes and two BVCM units. Texmaco clarified that this order was from a domestic organisation and did not involve related-party transactions. The effective date for this Vedanta order was stated as May 8, 2026, with delivery timelines of six months for the first rake (53 wagons and one BVCM unit) and eight months for the second rake of a similar configuration.

Another disclosure cited four orders worth a combined ₹187.28 crore from Southern Railway for providing interlocking arrangements at 183 non-interlocked gates. Those projects were stated to be executed within 18 months from the letter of acceptance. The company clarified that promoters or group entities had no interest in the awarding authority and that it was not a related-party transaction.

Why the Kochi Metro order matters

The Kochi Metro Phase 2 contract adds a defined, time-bound metro systems package to Texmaco’s publicly disclosed order wins. Trackwork contracts typically require a blend of engineering capability, supply chain execution and on-site commissioning support, and the scope here covers all of those stages. The disclosure that the order does not involve related-party or promoter group interest addresses a standard governance check investors look for in contract announcements. The competitive tender backdrop also shows the contract was awarded in a field that included larger infrastructure peers, based on the bid list provided.

What to watch next

The company has indicated a 16-month execution period for the Kochi Metro package from the letter of acceptance. For investors tracking order conversion, the key milestones will be the commencement of site execution, procurement and installation progress, and eventual testing and commissioning. Separately, the Vedanta delivery schedule is split into six-month and eight-month tranches from May 8, 2026, and the Southern Railway interlocking work carries an 18-month window from its letter of acceptance. Any further updates are likely to come through additional exchange filings as milestones are achieved.