Company has installed capacity to manufacture 48,000 Wheels annually; Company is also looking forward to bigger Railway Forged Wagon Wheel Orders in the near future through tender route.
Mumbai (Maharashtra) [India], February 5: Hilton Metal Forging Ltd – prominent manufacturer and distributor in the steel forging industry, specializing in products such as for railway forged wagon wheel, flanges, fittings, and oilfield and marine products is eying big business for Railway Forged Wagon Wheel. Company has installed capacity to manufacture 48,000 Wheels annually and aims to meet the increasing demand in the replacement market. Company is also looking forward to bigger Railway Forged Wagon Wheel Orders in the near future through tender route.
Company had initiated development of technically specialized product – Railway Forged Wagon wheel business in early 2022. In the last 18 months the company has supplied more than 2000 Railway Forged Wagon Wheels and Rail Gear Blanks. Company supplies Railway Forged Wagon Wheel for the replacement market across various Indian Railway Workshops in India.
Established in the year 2005, Hilton Metal Forging Ltd stands as a prominent manufacturer and distributor in the steel forging industry, specializing in products such as flanges, fittings, and oilfield and marine products. The company has successfully expanded its portfolio by manufacturing turbine blades, and making inroads into the railway industry with the production of forged wheels. Company has complete in-house facility of Forging, Machining, Heat Treatment and Lab Testing under one roof at it’s manufacturing facility spread across 5 acres at Wada, Maharashtra
With the demonstrated quality and delivery, Railway Forged Wagon Wheel has been approved by the Third Party Inspection agency- RITES Ltd. Hilton Metal Forgings Limited with proven successful track record makes it a strong bidder for the Global Wheel Tender floated by Indian Railways. Company is also looking forward to bigger Railway Forged Wagon Wheel Orders in the near future through tender route.
The Board of Directors proudly announced that the company has successfully developed and supplied railway wheels to the Indian Railways, achieving the distinction of being the first Indian MSME company to produce Indigenous Forged Railway Wheels. The company is now eligible to participate in Global tenders.
In a significant development, Jupiter Wagons has placed an order for 250 Forged Wagon Wheel sets with Hilton Metal Forging Ltd as a trial order. Following the successful supply of the initial 250 sets, Jupiter Wagons has issued a Letter of Intent (LOI) for procuring 6000 Forged Wagon Wheel sets annually, highlighting the company’s growing recognition and potential in the market. Additionally, Hilton Metal Forging Ltd identifies other Wagon Manufacturing OEMs as potential clients for Forged Wagon Wheelsets, indicating the company’s expanding market reach and promising future in the railway industry.
Company has reported exceptional operational and financial performance over the years. Net Profit of the company for FY23 was reported at Rs. 5.85 crore, 3 fold growth from net profit of Rs. 1.76 crore in FY22. Total income also rise 25% to Rs. 105.4 crore in FY23 as against Rs. 84.2 crore in FY22. Net profit margin of the company has improved to 6.71% in FY23 as against 2.1% in FY22 on account of increase in operating performance.
Railway Budget 2024 – Highlights
- The Indian Railways is set to receive a capex push of Rs. 2.52 lakh crore for the financial year 2024-25, an increase of 5 percent from Rs 2.4 lakh crore allocated a year ago. The funds will be spent on building railway tracks, wagons, trains, electrification, signalling, and developing facilities at stations while focusing on safety.
- Finance Minister Nirmala Sitharaman announced three new corridors for the railways— Energy, Mineral and Cement corridor, Port Connectivity Corridor and a High Traffic Density Corridor. These corridors were identified under the scheme to enable multi-modal connectivity. These corridors will reduce costs and improve efficiency, according to the finance minister.
- Additionally, the Finance Minister also announced that 40,000 bogies would be converted to Vande Bharat standard to improve safety and convenience for passengers.
- The railway ministry is targeting 100 percent electrification of its network by July 2024 and laying of at least 2,000 km of new tracks, as well as rolling out the new Vande Bharat trains.
- The government is also expected to invite tenders to cover 4,000-5,000 km of railway tracks with its collision prevention system, Kavach. By June 2024, the Indian Railway plans to cover around 3,500 km of railway tracks and around 500 locomotives with Kavach.
- Under Mission 3000, the Indian Railways intends to double its cargo loading to 3,000 million tonnes (mt) by 2027. It is widely understood that DFCs will play a key role in this endeavour.
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