Texmaco Rail & Engineering Limited has entered into an Amended and Restated Joint Venture Agreement with Touax Rail India Limited and Touax Texmaco Railcar Leasing Private Limited, with Trinity Rail Global Inc. as the proposed new JV partner. This agreement was finalized on June 2, 2026. Upon the issuance of further shares to the new JV partner, Texmaco Rail & Engineering Limited's shareholding in the Joint Venture Company (JVC) will be reduced from the current 50% to 34%. The JVC, Touax Texmaco Railcar Leasing Private Limited, reported a total income of ₹99.56 crore and a net worth of ₹258.35 crore in the last financial year. As an associate company, only Texmaco Rail's share of profit/(loss) is considered in its consolidated financial statements. The transaction is expected to be completed within two months from the agreement date. Trinity Rail Global Inc. is not related to Texmaco Rail's promoter, promoter group, or group companies, and the transaction does not fall under related party transactions or a slump sale outside of a Scheme of Arrangement.
