Sunday, May 22, 2022

RailTel ranks 124 in ‘Fortune India Next 500’ list of year 2022

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New Delhi: Railtel Corporation of India Limited (RailTel), a Miniratna Government of India undertaking under Ministry of Railways in a significant recognition of its improved and consistent performance has jumped to a higher rank in the recently announced “Fortune India Next 500 list of the Year 2022,” of top midsize companies operating in India. RailTel now in the Year 2022 list figures at a rank number 124 which is an improvement of 67 positions as compared to its previous rank number of 197 in the Year 2021 list. RailTel is a trusted ICT service provider and one of the largest Neutral Telecom Infrastructure Services Providers in the country.

It is worth mentioning that there are only five more private telecom players in addition to RailTel who have been featured in the list. Apart from RailTel, the only Railway PSU featuring in this list is IRCTC which stands at rank 309. Moreover, there are only a total 10 (including RailTel) Government of India companies, who have got a place in the Fortune India 500 list 2022. RailTel is the only Telecom Govt. of India PSU figuring in the list.

The Fortune India Next 500 is a ranking of the top 500 midsize corporations in India compiled on the basis of the latest sales and gross revenue figures. The current list is based on the annual audited total income for the financial year 2020-21. The Fortune India list is a prestigious ranking list that is considered to be an objective list of companies doing exceptionally well and contributing positively to the growth of the country.

This list is published annually by Fortune India English Monthly magazine which is the Indian International edition of the World famous “Fortune” magazine, an American multinational business magazine headquartered in New York City. Fortune magazine is published by Time Inc., a global media organization working as a key player in the business and financial media known for its unrivalled access to the world’s most influential leaders and decision-makers. The Indian edition “Fortune India” is being published through a licensing agreement between Time Inc. and ABP Group, one of India’s largest media conglomerates since 2010. There are 5 other International editions of this magazine namely Fortune China, Fortune Turkey, Fortune Korea, Fortune Indonesia and Fortune Greece.

RailTel has been a consistent performer and has grown in terms of size and revenues over the years. Turnover of the company during FY 2020-21 is Rs. 1411 Cr with Compounded Annual Growth Rate (CAGR) during last five years as 12 percent. The net worth of the company has also grown steadily and consistently over the years. The company has maintained steady profit and has been regularly paying dividends.  It is one of the consistently profit-making telecom PSU despite gloomy market conditions.

In the nine months of the current FY 21-22, RailTel has posted total revenue of Rs 1140 crore which is a 17.28 percent growth over the 9 months of FY 20-21. The profit after tax (PAT) for nine months FY 22 grew by 34.78 percent over nine months of FY'21. The company declared an interim dividend at the rate of 17.5 percent of paid-up share capital (Rs 1.75 /- per share) for the FY2021-22.

The company has been receiving several awards for the last many years in different categories and fields which is the recognition of RailTel’s efficiency, potential, capabilities and achievements. RailTel has been recently awarded the ICAI Award for Excellence in Financial Reporting for the year 2020-21 in Public Sector Entities Category by the Institute of Chartered Accountants of India (ICAI), a premier accounting body. This achievement underscores the fact that RailTel undertakes effective high quality financial reporting in a fair and transparent manner maintaining best standards and accounting practices in the preparation and presentation of information in the financial statements.

The core strength of RailTel is its strong backbone of over 60,000 RKM Optical fibre network, built over the exclusive right of way along the Railway Tracks, connecting 6095+ stations. Along with this, RailTel also has 20000+ KM City Access network, 1050+ telecom towers, 2 Data Centres, RailCloud & a specialized Security Operation Centre.

Talking about this RailTel CMD Puneet Chawla said, “It is heartening to know substantial improvement in the ranking of RailTel in the “Fortune India Next 500 list of Year 2022”. The company has been a profitable entity since 2008. The company is constantly upgrading, expanding, diversifying and modernizing itself to serve its clients in a better way. RailTel is in the forefront of National Digital Transformation activity. It is playing a major role in fulfilling Prime Minister’s favourite programme of Digital India.  Besides Railways, RailTel is also working in other sectors like Coal, Banks, Defence, Health & Education. We are committed to maintaining robust finances and efficient delivery of services to all our clients. Last year RailTel was listed in the Indian stock market and since then it has got a positive response from shareholders and we are committed to delivering value to our investors in future as well.”

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