Q2 FY24 results Key development.
1.The capacity of existing foundry at Kolkata Unit will be increased from 2,500 metric tonnes at present to 3,000metric tonnes by the conclusion of this fiscal year. The wagon manufacturing capacity has been increased to ~700 wagons per month at present. Once the expanded capacity of foundry is made available, it is expected that production capacity will increase to 800 wagons per month.
2.A new foundry is scheduled to be established in Jabalpur over the course of next 18 months with a capacity of 2,000 tonnes, catering to both captive use and exports. This initiative is expected to yield cost savings in freight expenses.
3.Indian Railway tender for 20,000 wagons has been issued and the timeline for submission is mid of Nov,23.
4.With handover and integration activities nearing completion, it is anticipated that Stone India will initiate its operational activities in Q4FY24.
5. Electric Mobility: the vehicle is scheduled for testing in November, and we are progressing as planned for its commercial launch in the fourth quarter of this fiscal year.
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