RailTel holds 23rd Annual General Meeting

by Psu Connect
Date: 31-08-23

23rd Annual General Meeting (AGM) of RailTel Corporation of India Ltd. (RCIL), a Mini Ratna CPSU under the Ministry of Railways was held today i.e, on 31st August 2023 through Video Conferencing (VC).

RailTel holds 23rd Annual General Meeting

New Delhi: 23rd Annual General Meeting (AGM) of RailTel Corporation of India Ltd. (RCIL), a Mini Ratna CPSU under the Ministry of Railways was held today i.e, on 31st August, 2023 through Video Conferencing (VC). Chairman & Managing Director, RailTel Sh. Sanjai Kumar addressed the AGM. The Annual Report of the Company for the financial year 2022- 23 was presented at the meeting.

Members of the RailTel board, namely, Sh. V Rama Manohara Rao (Director/Finance), Sh. Manoj Tandon (Director/ Project, Operations & Maintenance) and Sh. Yashpal Singh Tomar (Director / Network Planning & Marketing), Sh. Rakesh Ranjan (Govt Nominee Directors), Sh. Rameshwer Meena (Govt Nominee Directors), Dr. Subhash Sharma (Part- time Non Official Director/ Independent Director) and Sh. N. Manoharan (Part- time Non Official Director/ Independent Director) were present during the meeting. A resolution of paying final dividend of Rs. 1.05/- per share (10.5% of paid up share capital) was also passed during this AGM.

Striking a positive note, Sh. Sanjai Kumar in his address said that despite challenging market conditions and disruptions in the global supply chain, RailTel has demonstrated remarkable performance. He said that over the past five years, we have consistently achieved growth in total income, and in the fiscal year 2023, our income has surpassed Rs. 2000 crore, reaching a new pinnacle. Actually the company has achieved a record-breaking total income of Rs. 2002 crore, marking a remarkable 27% growth compared to the previous financial year's income of Rs. 1578 crore.Furthermore, our market capitalization currently stands at over 5000 crore, and with the increasing confidence of investors, we hope to expand further.

Shri Sanjai Kumar said that during the fiscal year 2022-23, our operating revenue experienced a significant surge of 27%, reaching a turnover of Rs. 1964 crores, as opposed to Rs. 1548 crores in the preceding financial year.

Talking about RailTel’s close partnership with Indian Railways, Shri Kumar said that Railtel has been playing a pivotal role in driving the digital transformation of Indian Railways. We have implemented NIC e-office, HD video conferencing service TPAS (Tele Presence as a Service), Hospital Management Information System (HMIS). We are working on the project of installation of an IP-based Video Surveillance System (VSS) at more than 5000 railway stations and the work at 308 stations has been successfully completed. Railtel is implementing the project of Tunnel Radio Communication systems for various railway sections.

We are actively exploring opportunities in related domains such as the Modern Train Communication System and Kavach.

Talking about the monetization exercise on RailTel’s Wi-Fi network at railway stations, Shri Kumar said that we have established a strategic partnership with a consortium of companies to capitalize on the vast potential of this Wi-Fi network, which spans across 6108 railway stations throughout the country. On the company’s order book, Shri Kumar said that it stands at Rs. 4800 crore having a footprint across multiple sectors like Railways, IT, Defense, Health, Mining, Coal, Banking, smart cities, Insurance and more.