Titagarh Rail Systems Ltd (TITAGARH) — FY26 Annual Report | 8 September 2026

· BSE 🔴 High Importance Neutral
By StockFin Research Team AI-Assisted Analysis Source: BSE/NSE Filings
📢 Key Event
FY2025 revenue grew 109-111% YoY to ₹3,143.58 Cr with PRS contributing ₹539.33 Cr at 19% margin.
🔄 What Changed
Revenue growth accelerated to 109-111% YoY, order book expanded to ₹13,300 Cr, and backward integration upgraded to 50,000 MTPA foundry capacity.
🔮 What's Next
Management aims to scale solar-powered solutions and metro coach manufacturing through ABB and Siemens partnerships, targeting sustainable growth in passenger and freight segments.
💡 Investor Takeaway
Strong revenue growth and order book visibility support long-term value creation, but promoter stake dilution risks remain.

Titagarh Rail Systems reported a 109-111% YoY revenue surge to ₹3,143.58 Cr in FY2025, driven by Passenger Rail Systems growth to ₹539.33 Cr at 19% margin, with 7,019 wagon dispatches and 63 coach deliveries. The company achieved net profit of ₹163.91 Cr, backed by a ₹13,300 Cr order book and backward integration upgrades. Strategic moves include solar-powered solutions, metro coach manufacturing partnerships with ABB and Siemens, and a newly acquired 40-acre Uttarpara facility. Debt remains negative, with CRISIL maintaining AA- ratings. Shareholding shows promoter dominance at 31.39%, though Rashmi Chowdhary's stake fell 2%.

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About Titagarh Rail Systems Ltd (TITAGARH)

Capital Goods · Capital Goods-Non Electrical Equipment · Listed on BSE

Market Cap: ₹10,956.38 Cr P/E: 57.3 ROE: 7.6% ROCE: 10.9% Div Yield: 0.12%

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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