Synopsis: Titagarh Rail Systems Limited has recently received a new work order from Indian Railways for supplying 62 Rail Borne Maintenance Vehicles (RBMV).
The shares of this Railway stock is engaged in manufacturing and selling of freight wagons, passenger coaches, metrotrains, heavy earth moving and mining equipment were in focus after receiving work order from Indian Railways.
With market capitalization of Rs. 10,422 Crores the shares of Titagarh Rail Systems Ltd Were approximately trading at Rs. 774 per equity share which is 42 percent less from its 52 week high of Rs. 1351 and trading at P/E of 52.9 whereas industry P/E stands at 46.
What is the News
Titagarh Rail Systems Limited has received a new work order worth ₹273.24 crore from the Ministry of Railways for the design, manufacture, supply, testing, and commissioning of 62 Rail Borne Maintenance Vehicles (RBMVs), along with training of Indian Railways personnel and servicing and breakdown maintenance support.
Supply of the machines will begin within 15 months from the date of the Order/Letter of Acceptance, with all machines and the required spares to be delivered within 48 months. This maiden order marks a significant strategic milestone for TRSL, as it represents the company’s successful entry into a high-value, technology-driven, and safety-critical segment, aligned with Indian Railways’ focus on mechanisation, enhanced safety, and modernised maintenance practices, while also strengthening TRSL’s capabilities beyond rolling stock manufacturing into integrated rail safety and maintenance solutions.
Company analysis and financials
TRSL is the only Indian company manufacturing both wagons & coaches, is majorly engaged in manufacturing and selling of freight wagons, passenger coaches , metro trains, heavy earth moving and mining equipment etc. across various industries such as Indian Railways, Ministry of Defence having ~25 percent market share in wagon manufacturing. The company has four manufacturing facilities with the capacity of 300 coaches per year.
The company’s order book accounts to Rs. ~15,077 crores as on 30 september 2025 out of which freight rolling stock contributes 72 percent of the total order book, passenger rolling stock and shipbuilding contributes 24 percent and 3.2 percent respectively.
Year on Year analysis:Its revenue from operations has decreased from Rs. 1057 Crores to Rs. 799 Crores, down 24 percent. Operating profit has decreased from Rs. 125 Crores to Rs. 74 Crores, down 40 percent and net profit has decreased from Rs. 81 Crores to Rs. 37 Crores, down 54 percent.
Quarter on Quarter analysis: Its revenue from operations has increased on a quarterly basis from Rs. 679 Crores to Rs. 799 Crores, up 17 percent. Operating profit has increased from Rs. 64 Crores to Rs. 74 Crores, up 15 percent and net profit has increased from Rs. 31 Crores to Rs. 37 Crores up 19 percent.
Written By Vachan Kadli
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