RITES emerges lowest bidder for Rs 400 crore Sri Lanka Railways train tender
RITES said in an NSE filing that it is the lowest bidder (L-1) for Sri Lanka Railways' tender to supply diesel multiple unit train sets, with an estimated bid value of about Rs 400 crore.
Key points
- RITES said in a filing with the National Stock Exchange that it has emerged as the lowest bidder in a Sri Lanka Railways tender for DMU train sets.
- The company puts the estimated value of its bid at about Rs 400 crore (USD 41.45 million), with execution within 12 months of the letter of credit opening.
- The filing says the order is subject to due process of scrutiny and evaluation, so the award is not final.
Photo: Wikimedia Commons, CC0 1.0 (cropped). Representational image.
RITES Limited said in a filing with the National Stock Exchange on 3 November 2026 that it has emerged as the lowest bidder (L-1) in a tender from Sri Lanka Railways for the supply of broad gauge diesel multiple unit (DMU) train sets. The company put the estimated value of its bid at about Rs 400 crore (USD 41.45 million).
What Happened
According to the company's filing, the event took place on 2 November 2026. RITES described the order as one it has bagged in the ordinary course of business, from an international counterparty, Sri Lanka Railways.
The filing gives these details:
- Scope: supply of broad gauge diesel multiple unit train sets for Sri Lanka Railways.
- Position: RITES "emerges as Lowest Bidder (L-1)" in the tender.
- Value: "the estimated value of the bid is approximately Rs. 400 Crore (USD 41.45 Million)".
- Timeline: the order is to be executed within 12 months from the opening of the letter of credit.
- Condition: the filing says the order is "subject to due process of scrutiny/ evaluation".
RITES also said that Sri Lanka Railways is not an Indian listed entity and does not belong to the group companies of any Indian listed entity. It said its promoters, promoter group and group companies have no interest in the entity awarding the order, and that the order is not a related party transaction.
What It Means
Being the lowest bidder is not the same as a final award. The company's own wording makes the order subject to scrutiny and evaluation by Sri Lanka Railways, and the filing does not say when a final decision will come.
For readers who follow RITES, the filing is a disclosure of a possible export order of about Rs 400 crore, with a 12-month execution period from the opening of the letter of credit. The filing does not say how the order would affect the company's revenue or profit, and Oquilia does not draw that conclusion. The company's full disclosure is available on the National Stock Exchange.
Oquilia Data: RITES Ltd. (NSE: RITES)
| Close, 2 Nov 2026 | Rs 191.50 (+1.71% on the day) |
|---|---|
| Return 1M / 3M / 6M / YTD / 1Y | −8.58% / −10.55% / −12.52% / −21.13% / −21.99% |
| Against Nifty 50, 1M / 3M / YTD | −13.13 / −6.69 / −10.84 points |
| 52-week closing high / low | Rs 252.65 (26 Dec 2025) / Rs 175.63 (30 Mar 2026) |
| Turnover, 20-session average | Rs 54.43 cr; 8.9% delivered; latest volume 0.3x |
Closes adjusted for splits and bonuses; returns exclude dividends. Facts from NSE's files, not investment advice.
Full record: RITES share price on Oquilia
Source: Company filing on NSE
Sources & Citations
- Company filing on NSE — National Stock Exchange of India