Minerva Capital Research Solutions

Titagarh Rail Systems

NSE: TITAGARHBSE: 532966
Compare with peers
₹ 702.00▲ 49.1 (+7.52%)28 Oct, 03:29 pm IST
Market cap
₹ 8,927 Cr.
P/E
48x
P/B
3.81x
52-week range
568.7 – 971
ROE
6%
ROCE
11%
Dividend yield
0.1%
Debt / equity
0.25
Sector
Industrial Manufacturing
Industry
Railway Wagons
Listed on
NSE, BSE

About

Titagarh Rail Systems Limited is an India-based company that offers mobility solutions. The Company is engaged in the manufacturing and selling of Freight Wagons, Passenger Coaches, Metro Trains, Train Electricals, Steel Castings, specialized equipment's & Bridges, Ships, etc. Its segments include Freight Rail Systems and Passenger Rail Systems. The Freight Rail Systems segment includes the manufacturing of wagons, loco shells, bogies, couplers and their components, designing and construction of warships, passenger vessels and others. The Passenger Rail Systems segment consists of designing and manufacturing of metro, passenger coaches, train sets, monorail, propulsion equipment, traction motors and their components. Its product range also includes electric propulsion equipment, such as traction motors and vehicle control systems. It has delivered metro coaches to major cities such as Bengaluru, Ahmedabad, Surat, and Pune, and has begun production of Vande Bharat sleeper trainsets.

Quick check

The five things to look at first. Open one for more.

Compared with its industry

Railway Wagons: 3 companies →

Titagarh Rail Systems against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.

  • Valuation (P/E)48 against a typical 43.6: pricier than most peers (1st = cheapest).3rd of 3
  • Sales growth+12.7% against a typical +12.7% from a year earlier.2nd of 3
  • Profit growth+71% against a typical +71% from a year earlier.2nd of 3
  • Share price, 3 months−15.8% against a typical −15.8%.2nd of 3
  • Size₹ 8,926.9 Cr. market value against a typical ₹ 7,386.3 Cr. (1st = largest).1st of 3

Credit ratings

Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates

No up-to-date rating

AgencyCurrent ratingOutlookAs of
CRISILWithdrawnStable30 Mar 2026

Every agency has withdrawn its rating.

Credit rating actions
RatingDetails
30 Mar 2026
Withdrawn
was Crisil AA-—CRISIL₹ 5,050 Cr.

Research by Minerva Capital Research Solutions

Our research team's work on Titagarh Rail Systems

Also covered in

Airfloa Rail Technology Ltd
IPO note · 7 Sep 2025 · Free

Board meetings

Results dates and other board meetings. Full calendar

Details
29 Oct 2026UpcomingFinancial ResultsTo consider and approve the financial results for the period ended September 30, 2026
12 Aug 2026Financial ResultsTo consider and approve the financial results for the period ended Jun 30, 2026
30 May 2026Financial Results/DividendTo consider and approve the financial results for the period ended March 31, 2026 and dividend
13 Feb 2026Financial ResultsTITAGARH : 13-Feb-2026 : The Company has informed the Exchange that a Board meeting to be held on February 12, 2026 has been re-scheduled. Further, the Company has informed the Exchange that the meeting of the Board of Directors of the Company will be held on February 13, 2026, to inter alia consider and approve the unaudited financial results for the quarter ended December 31, 2025
12 Feb 2026Financial ResultsTo consider and approve the financial results for the period ended December 31, 2025
13 Nov 2025Financial ResultsTo consider and approve the financial results for the period ended September 30, 2025
11 Aug 2025Financial ResultsTo consider and approve the financial results for the period ended Jun 30, 2025

Share price

1Y change −21.64%
Volume (shares)Price (₹)
Close price

Financials

Consolidated figures in ₹ crore.

Quarterly results
₹ Cr.Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales9359551,0529031,0579021,006679799832875765
Expenses821844935806932809987615725741783671
Operating Profit1151111189712594186474919294
OPM %12%12%11%11%12%10%1.8%9%9%11%11%12%
Other Income71412121023−12811140147
Interest201816131721221818181715
Depreciation77778681212131415
Profit before tax951001089011189−1404557607571
Tax %25%25%27%26%27%29%−12%32%35%25%28%26%
Net Profit717579678163−1243137455453
EPS in Rs5.555.565.864.985.994.66−9.092.292.743.354.013.9

Growth and returns

Compounded yearly rates over each period.

Compounded Sales Growth
10 Years
13%
5 Years
16%
3 Years
5%
TTM
−10%
Compounded Profit Growth
10 Years
27%
5 Years
65%
3 Years
7%
TTM
3%
Stock Price CAGR
10 Years
22%
5 Years
56%
3 Years
7%
TTM
—
Return on Equity
10 Years
5%
5 Years
10%
3 Years
11%
TTM
—

Shareholding

Latest: Jun 2026.

Promoters
40.46%
0 pts in a year
FIIs
10.87%
+1.38 pts in a year
DIIs
15.38%
+3.71 pts in a year
Government
0.01%
0 pts in a year
Public
33.28%
−5.07 pts in a year

P/E and EPS over time

Daily P/E and trailing 12-month EPS. EPS updates with each result.

P/E 48xEPS (12 months) ₹ 14.42Median P/E 25.7x
P/E (times)EPS (₹)

Peers

Listed companies in the same business.

Peer comparison
Titagarh Rail Systems₹ 702.00₹ 8,927 Cr.48x3.8x6%—
Container Corporation of India₹ 411.00₹ 31,303 Cr.29.8x2.9x9.8%13.4%
Airfloa Rail Technology₹ 455.05₹ 1,142 Cr.18.5x3.5x22.4%12.3%

Management

Jagdish Prasad Chowdhary
Executive Chairman of the Board, Managing Director
Umesh Chowdhary
Executive Vice Chairman of the Board, Chief Executive Officer, Managing Director
Saurav Singhania
Joint Chief Financial Officer, Chief Risk Officer
Vijay Subramanian
Chief Executive Officer - Passenger Rail Systems
Devendra Kumar Vyas
Chief Executive Officer - Freight Rail Systems
Aditya Purohit
Company Secretary and Compliance Officer
Prithish Chowdhary
Deputy Managing Director, Executive Director
Anil Kumar Agarwal
Deputy Managing Director

Prices are delayed and for information only. Nothing on this page is investment advice.