Oriental Rail Infrastructure Ltd

Dear Shareholders,

On behalf of the Board of Directors of Oriental Rail Infrastructure

Limited (ORIL), I am pleased to present the annual report for the financial year ended March 31, 2025.

It is my privilege to address you all today as the Chairman of ORIL, and to present the highlights of our Annual Report for the fiscal year 2024-2025. This past year has been one of transformation, resilience, and progress as we continue to shape the future of transportation through quality, innovation, and dedication.

During the year, Oriental Rail Infrastructure Limited has maintained its steady momentum across its core businesses of wagon manufacturing, coach interiors, and passenger seating systems. We saw healthy demand for our products, backed by the government's push for infrastructure development and railway modernization. Through a combination of operational excellence, cost control, and quality improvement, we were able to improve profitability and strengthen our market standing.

This year's performance is also a reflection of our strategic discipline-focusing on long-term growth, entering high-potential segments, and deepening technological capabilities.

A Year of Transformation and Progress

This year has been pivotal for ORIL- not just in terms of financial performance, but more importantly, in the strides we have made towards transforming our business into a future-ready, innovation-driven enterprise. Amidst global economic uncertainties and evolving industry dynamics, we have stayed true to our vision of delivering high-quality, reliable, and future-centric solutions for the railway sector.

Our core businesses in wagon manufacturing, coach interiors, and rail seating systems have seen healthy demand and strong execution. We've enhanced operational efficiencies, strengthened our order book, and further improved our relationships with key clients including Indian Railways and other OEMs.

Yet, what truly sets this year apart are the strategic breakthroughs that lay the foundation for the next phase of our growth.

Performance Overview

In a year marked by both global challenges and sectoral transformation, Oriental Rail Infrastructure Limited has continued to demonstrate strong resilience and performance. Our commitment to delivering world-class wagons, passenger seating systems, and components remains unwavering. Our teams have worked diligently to enhance production capabilities, improve quality, and expand our market presence.

In the past year, Oriental Rail Infrastructure Limited delivered strong financial and operational performance. The company has been able to achieve total Standalone turnover of Rs. 15,843.27 lakhs.

In the dynamic landscape of India's infrastructure development, particularly within the Indian Railways sector, ORIL is resolute in its commitment to contribute significantly. As the nation intensifies its efforts to expand and modernize its infrastructure, we at ORIL are dedicated to playing a pivotal role.

With a strategic focus on the Indian Railways, we aim to enhance connectivity, efficiency, and sustainability across the network

Our initiatives are geared towards integrating cutting-edge technologies, fostering innovation in railway products, and ensuring robust infrastructure solutions that align with the evolving needs of the sector.

ORIL recognizes the transformative power of infrastructure development in driving economic growth and societal progress. We are poised to leverage our expertise, resources, and partnerships to support India's vision for a modern, efficient, and interconnected railway network.

At ORIL, we applaud these proactive steps by the government. We are committed to aligning our efforts with India's vision for a modernized and efficient railway network. By leveraging our expertise in railway products and solutions, we aim to contribute significantly to the ongoing transformation of the Indian Railways.

Our focus remains on delivering innovative and sustainable solutions that meet the evolving needs of the sector. ORIL is poised to support India's infrastructure goals, ensuring that our railways continue to serve as the backbone of the nation's transport and logistics network.

As we move forward, ORIL is dedicated to fostering growth, promoting efficiency, and upholding the highest standards of service excellence. Together with the Indian Railways and our stakeholders, we look forward to advancing towards a future where superior infrastructure drives economic progress and societal well-being."

Strategic Developments: Forging the Future

The past year has laid the foundation for transformative change at ORIL. I am pleased to highlight strategic developments that are pivotal to our future growth:

1. Wagon Plant Capacity Expansion – Scaling for the Future

In response to sustained demand for rolling stock from Indian Railways and private logistics players, we have officially initiated the expansion of our wagon manufacturing capacity from 2,400 to 3,600 wagons per annum. This capacity enhancement will significantly strengthen our ability to deliver larger volumes with improved efficiency, faster turnaround times, and better cost optimization—supporting India's freight modernization goals.

2. Collaboration with UniWagon, Russia – Specialized Wagons for a New Era

We have begun a strategic initiative with UniWagon, Russia, to jointly explore the development of specialized wagons tailored for emerging market requirements. This collaboration will allow ORIL to access proven international design capabilities while leveraging our cost-effective manufacturing ecosystem. The partnership underscores our commitment to building high-performance, application-specific rolling stock for both domestic and export markets.

3. Smart Wagon Technology with Hum Industrial – RDSO-Approved Innovation

In a landmark achievement, our wholly owned subsidiary,

Oriental Foundry Private Limited (OFPL), has entered

. into a five-year strategic partnership with Hum Industrial Technology, Inc. for the deployment of Smart Wagon

Monitoring Systems.

We are proud to share that Indian Railways and RDSO have formally approved the installation and use of this smart technology.

This system leverages IoT and AI to enable real-time tracking, predictive maintenance, and operational diagnostics—marking a major shift toward intelligent freight mobility.

With this, ORIL becomes one of the first private sector companies in India to commercially deploy an

Indian Railways- approved smart wagon system — a true milestone for technology-led transformation.

4. Modernization of Foundry Operations – Enhancing Capacity and Efficiency

Recognizing the increasing order volumes and evolving quality benchmarks, we have commenced a full-scale modernization of our foundry operations at OFPL.

This initiative includes the deployment of automation, process digitization, and capacity scaling.

Once completed, it will enable us to deliver faster, higher-quality cast components and better support our growing production commitments.

This modernization will be a cornerstone for the next phase of ORIL's growth and will significantly bolster our ability to compete in both Indian and global markets.

5. Vande Bharat Order: Entering India's High-Speed Future

It is with great pride that I announce Oriental Rail Infrastructure Limited's formal entry into the prestigious "Vande Bharat" segment. We have secured our first order worth 42.89 crore from the

Rail Coach Factory (RCF), Kapurthala, Indian Railways. This order is not only a testament to our technical strength and quality benchmarks but also a gateway to participating in India's high-speed rail revolution.

This win is not just a business achievement—it is national recognition of our engineering excellence and our alignment with India's ambitious vision of world-class, high-speed mobility. We are proud to contribute to this iconic initiative, and we see it as a launchpad for deeper participation in semi-high-speed and bullet train infrastructure.

Oriental Foundry Private Limited (OFPL): A Standout Contributor

I am proud to share that our Wholly Owned Subsidiary, Oriental Foundry Private Limited (OFPL), has delivered a strong financial and operational performance during the year. OFPL continues to be a vital pillar of ORIL, contributing significantly to our consolidated revenue and production capacity.

• OFPL achieved robust growth in the manufacturing of freight wagons and specialized railway components, with increased capacity utilization and improved delivery timelines.

• The subsidiary successfully executed multiple orders for Indian Railways and private players, reinforcing its reputation for quality and dependability.

• OFPL has also made significant automation and modernizing its manufacturing facilities, helping boost productivity and reduce turnaround times.

Revenue of M/s. Oriental Foundry Private Limited ("OFPL") subsidiary company of ORIL has been increased to

45,822.84 Lakhs. The OFPL has successfully bagged orders of Wagons worth 1,000 Crore for Indian Railways in financial year 2024-2025

Foreign Direct Investment (FDI) in Railways: Unlocking New Horizons

India's railway sector has become an attractive destination for

Foreign Direct Investment (FDI) — with the government allowing 100% FDI in key areas such as infrastructure, signaling, high-speed rail, and rolling stock manufacturing.

This is a pivotal moment for companies like ORIL. The liberal FDI policy is creating opportunities for global collaboration, technology transfer, and capital infusion, particularly in:

• Electrification and modernization of existing railway lines

• Developmentofhigh-speedandsemi-high-speedcorridors

• Manufacture of advanced wagons, coaches, and smart components

• Digital transformation and automation of rail systems We are actively exploring strategic international partnerships that align with these focus areas. Our collaboration with Hum Industrial Technology is just the beginning. As FDI flows increase,ORIL and OFPL are well-positioned to be the preferred local manufacturing and integration partners for global rail technology companies entering the Indian market.

Growth Opportunities: The Horizon Ahead

The future presents multiple avenues for ORIL's growth, both in scope and scale. Here are a few strategic growth areas we are actively targeting:

1. High-Speed and Metro Rail Expansion: With over 800 km of high-speed rail planned and dozens of metro corridors under construction, the demand for modern rolling stock and interiors is expected to surge.

2. Export Opportunities: Several developing nations are looking to upgrade their rail networks. ORIL aims to tap into these global opportunities through strategic partnerships and cost-competitive manufacturing.

3. Smart Railway Infrastructure: The push for IoT-enabled, digitally managed rail systems presents new avenues for innovation. With our tie-up with Hum Industrial Technology, we are well ahead on this curve.

4. Private Freight Terminals and Logistics: The increasing privatization of freight infrastructure presents a unique opportunity for ORIL to design and supply specialized wagons and components tailored for industrial clients. progress in improving

5. Green & Sustainable Rail Products: The Indian Railways is targeting net-zero emissions by 2030. ORIL is investing in eco-friendly manufacturing, lightweight materials, and recyclable components that support this national goal.

These opportunities, combined with government reforms and rising public and private investment, will drive the next wave of growth for the company.

Looking Ahead

With a strategic roadmap in place, we are optimistic about the future. Our goals include scaling our production, and becoming a key contributor to India's railway modernization efforts—including metro, semi-high-speed, and high-speed rail.

We will also continue to deepen our partnerships and invest in smart technologies, such as IoT-enabled components and automation-driven quality control.

Commitment to Sustainability and Responsibility

Sustainability continues to be an integral part of our business philosophy. We have taken concrete steps to reduce our environmental footprint, enhance energy efficiency, and maximize resource circularity in our operations.

At the same time, our Corporate Social Responsibility (CSR) efforts have focused on education & community development. We believe that true growth is inclusive—and we are committed to empowering the communities we work with and the people who make our success possible.

A Word of Gratitude

None of these accomplishments would be possible without the collective efforts of our dedicated employees, the vision of our leadership team, the trust of our customers, and the continued support of our shareholders.

To each and every member of the Oriental family—I extend my deepest thanks. Let us move forward with purpose, with pride, and with a shared commitment to shaping the future of rail mobility in India and beyond.