Titagarh Rail Systems Ltd

Titagarh Rail Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Titagarh Rail Systems Ltd

₹ 626 0.76%
20 Mar - close price
titagarh.in BSE: 532966 NSE: TITAGARH
About

Titagarh Rail Systems Ltd (Formerly Titagarh Wagons Limited), incorporated in 1997, is mainly engaged in the manufacturing and selling of Freight Wagons, Passenger Coaches, Metro Trains, Train Electricals, Steel Castings, Specialised Equipments & Bridges, Ships, etc. The company caters to both domestic and export markets.[1]

Key Points

Market Position
It is the only Indian company that manufactures both wagons and coaches. It commands a 25% market share in the wagon manufacturing industry. [1]

Website BSE NSE
  • Market Cap ₹ 8,435 Cr.
  • Current Price ₹ 626
  • High / Low ₹ 974 / 610
  • Stock P/E 35.6
  • Book Value ₹ 193
  • Dividend Yield 0.16 %
  • ROCE 17.5 %
  • ROE 12.8 %
  • Face Value ₹ 2.00
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Pros

  • Company has delivered good profit growth of 30.9% CAGR over last 5 years
  • Company's median sales growth is 25.3% of last 10 years

Cons

  • Debtor days have increased from 50.2 to 63.4 days.
  • Promoter holding has decreased over last 3 years: -7.37%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Industrials Capital Goods Industrial Manufacturing Railway Wagons

Part of BSE 500 Nifty 500 BSE Allcap BSE Industrials BSE 250 SmallCap Index

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
766 974 911 935 955 1,052 903 1,049 902 1,004 674 788 823
694 879 805 820 844 932 801 914 802 896 597 700 724
Operating Profit 73 95 106 115 111 120 102 134 100 108 77 89 99
OPM % 9% 10% 12% 12% 12% 11% 11% 13% 11% 11% 11% 11% 12%
10 8 10 7 14 15 12 6 22 30 10 10 4
Interest 23 22 19 20 18 16 13 17 21 22 18 18 17
Depreciation 5 6 7 7 7 7 7 7 6 8 12 12 12
Profit before tax 55 75 90 95 100 112 94 115 95 107 57 68 74
Tax % 28% 29% 25% 25% 25% 26% 25% 26% 28% 27% 25% 31% 24%
39 53 68 71 75 83 71 85 69 78 43 47 56
EPS in Rs 3.28 4.43 5.65 5.57 5.57 6.19 5.30 6.32 5.12 5.80 3.17 3.51 4.14
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
261 376 311 349 314 1,060 1,484 1,026 1,496 2,781 3,853 3,866 3,289
268 346 315 331 316 999 1,355 906 1,327 2,516 3,401 3,427 2,916
Operating Profit -6 30 -4 18 -2 62 129 119 168 264 452 439 372
OPM % -2% 8% -1% 5% -1% 6% 9% 12% 11% 10% 12% 11% 11%
25 1 7 24 23 -93 -144 16 -30 -2 46 75 53
Interest 6 6 5 4 9 39 65 55 57 81 73 73 76
Depreciation 7 9 12 12 13 16 18 16 18 22 27 30 44
Profit before tax 6 15 -14 26 -1 -87 -98 64 63 159 397 412 306
Tax % 37% 34% -35% 27% -468% -36% -19% 22% 47% 35% 25% 26%
4 10 -9 19 3 -55 -80 50 33 103 297 303 224
EPS in Rs 0.37 0.98 -0.78 1.67 0.25 -4.79 -6.91 4.21 2.80 8.65 22.05 22.53 16.62
Dividend Payout % 213% 16% -103% 48% 119% -6% 0% 0% 0% 6% 4% 4%
Compounded Sales Growth
10 Years: 26%
5 Years: 21%
3 Years: 37%
TTM: -16%
Compounded Profit Growth
10 Years: 32%
5 Years: 31%
3 Years: 74%
TTM: -24%
Stock Price CAGR
10 Years: 20%
5 Years: 67%
3 Years: 38%
1 Year: -20%
Return on Equity
10 Years: 9%
5 Years: 13%
3 Years: 15%
Last Year: 13%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 20 20 23 23 23 23 23 24 24 24 27 27 27
Reserves 613 610 852 872 867 873 793 848 846 939 2,201 2,493 2,570
64 15 13 43 99 299 212 104 198 353 166 627 637
99 117 121 140 194 448 409 442 617 710 832 650 620
Total Liabilities 796 762 1,009 1,078 1,183 1,643 1,437 1,418 1,685 2,026 3,226 3,797 3,853
117 113 299 307 302 590 586 575 678 732 748 991 1,196
CWIP 4 2 2 5 16 19 0 16 0 12 175 123 128
Investments 177 216 233 363 384 158 104 133 60 45 213 343 380
498 430 475 403 481 877 747 693 947 1,238 2,090 2,339 2,149
Total Assets 796 762 1,009 1,078 1,183 1,643 1,437 1,418 1,685 2,026 3,226 3,797 3,853

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
24 91 -44 -28 28 -94 296 226 35 62 93 -101
-13 -45 -75 3 -67 22 -143 -39 -59 -77 -531 -581
-4 -63 115 28 37 70 -145 -147 -22 50 724 373
Net Cash Flow 7 -18 -4 3 -2 -1 8 40 -46 34 286 -310

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 68 73 84 115 122 64 39 46 48 37 50 63
Inventory Days 535 222 258 278 272 152 70 99 106 78 64 65
Days Payable 45 65 67 68 76 162 72 67 78 55 39 29
Cash Conversion Cycle 559 230 274 325 318 54 37 79 77 60 75 99
Working Capital Days 267 157 223 214 212 62 72 89 28 20 61 58
ROCE % 2% 6% 1% 3% 0% 7% 11% 11% 16% 24% 25% 17%

Insights

In beta
Mar 2015 Mar 2016 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 (P)
Wagon Manufacturing Capacity
Units per annum

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Casting Manufacturing Capacity (Liquid Metal)
Metric Tonnes
Actual Casting Production
Metric Tonnes
Total Order Book
INR Crores
Wagon Production Volume
Units
Passenger Coach Capacity
Coaches per annum
Wagon Manufacturing Market Share
%

Shareholding Pattern

Numbers in percentages

2 Recently
Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
47.82% 47.82% 44.97% 42.47% 42.46% 40.46% 40.46% 40.46% 40.46% 40.46% 40.46% 40.46%
6.07% 7.05% 16.85% 20.04% 17.27% 19.56% 16.32% 13.67% 11.63% 9.49% 9.56% 10.66%
6.61% 9.68% 10.45% 12.27% 13.72% 14.13% 13.94% 15.01% 13.40% 11.67% 12.77% 12.60%
0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
39.48% 35.43% 27.73% 25.22% 26.53% 25.83% 29.25% 30.86% 34.49% 38.35% 37.19% 36.28%
No. of Shareholders 1,07,8451,41,5611,91,9102,24,2052,92,3953,62,2034,61,4425,15,6385,87,4226,17,5055,91,4885,71,503

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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