Titagarh Rail Systems Ltd.
TITAGARHIndustrials filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
17 transcript(s)/analyst meet(s) served; 9 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (1 of 17 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20220221 | 2021-12-31 | yes | |
| TRANSCRIPT | 20220823 | 2022-06-30 | yes | |
| TRANSCRIPT | 20220921 | 2022-06-30 | yes | |
| TRANSCRIPT | 20230529 | 2023-03-31 | yes | |
| TRANSCRIPT | 20230727 | 2023-06-30 | yes | |
| TRANSCRIPT | 20231026 | 2023-09-30 | yes | |
| TRANSCRIPT | 20240208 | 2023-12-31 | yes | |
| COVER_LETTER | 20240520 | 2024-03-31 | no | |
| COVER_LETTER | 20240805 | 2024-06-30 | no | |
| COVER_LETTER | 20241104 | 2024-09-30 | no | |
| COVER_LETTER | 20250219 | 2024-12-31 | no | |
| TRANSCRIPT | 20250606 | 2025-03-31 | yes | |
| COVER_LETTER | 20250819 | 2025-06-30 | no | |
| COVER_LETTER | 20251124 | 2025-09-30 | no | |
| COVER_LETTER | 20260220 | 2025-12-31 | no | |
| COVER_LETTER | 20260603 | 2026-03-31 | no | |
| COVER_LETTER | 20260819 | 2026-06-30 | no |
TITAGARH
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 819.25 |
| 52-week range | 574.85 – 932.6 |
| Return 1M | -1.56% |
| Return 3M | -7.79% |
| Return 1Y | -8.69% |
| Return 3Y | 8.15% |
| Return 5Y | 775.27% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 765.00 |
| Other income | 7.00 |
| Total income | 772.00 |
| Cost of materials consumed | 572.00 |
| Purchases of stock-in-trade | 0.00 |
| Changes in inventories | -9.00 |
| Employee benefit expense | 29.00 |
| Finance costs | 15.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.40 | 0.00 |
| institutions foreign | 0.11 | 0.00 |
| institutions domestic | 0.15 | 0.03 |
| mutual funds | 0.12 | 0.03 |
| public | 0.60 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| COVER_LETTER | 2026-06-30 | 9 |
| TRANSCRIPT | 2025-03-31 | 8 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-03-31 | 2022-06-30 | 2022-09-30 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 481.00 | 529.00 | 607.00 | 911.00 | 935.00 | 955.00 | 1,052.00 | 903.00 | 1,057.00 | 902.00 | 1,006.00 | 679.00 | 799.00 | 832.00 | 875.00 | 765.00 |
| Other income | 18.00 | 10.00 | 16.00 | 4.00 | 7.00 | 14.00 | 15.00 | 12.00 | 11.00 | 22.00 | 30.00 | 12.00 | 14.00 | 11.00 | 12.00 | 7.00 |
| Total income | 499.00 | 539.00 | 623.00 | 915.00 | 942.00 | 969.00 | 1,067.00 | 915.00 | 1,068.00 | 925.00 | 1,035.00 | 691.00 | 813.00 | 843.00 | 887.00 | 772.00 |
| Cost of materials consumed | 303.00 | 405.00 | 468.00 | 727.00 | 680.00 | 739.00 | 807.00 | 690.00 | 808.00 | 698.00 | 770.00 | 500.00 | 565.00 | 643.00 | 640.00 | 572.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | -10.00 | -40.00 | 5.00 | -15.00 | 42.00 | 8.00 | 1.00 | 7.00 | -9.00 | -11.00 | -24.00 | -18.00 | 25.00 | -36.00 | 2.00 | -9.00 |
| Employee benefit expense | 50.00 | 49.00 | 13.00 | 16.00 | 17.00 | 15.00 | 18.00 | 17.00 | 20.00 | 22.00 | 28.00 | 26.00 | 26.00 | 31.00 | 28.00 | 29.00 |
| Finance costs | 28.00 | 24.00 | 20.00 | 19.00 | 20.00 | 18.00 | 16.00 | 13.00 | 17.00 | 21.00 | 22.00 | 18.00 | 18.00 | 18.00 | 17.00 | 15.00 |
| Depreciation and amortisation | 9.00 | 9.00 | 5.00 | 7.00 | 7.00 | 7.00 | 7.00 | 7.00 | 8.00 | 6.00 | 8.00 | 12.00 | 12.00 | 13.00 | 14.00 | 15.00 |
| Other expenses | 123.00 | 86.00 | 68.00 | 77.00 | 82.00 | 82.00 | 107.00 | 87.00 | 109.00 | 93.00 | 130.00 | 96.00 | 100.00 | 102.00 | 109.00 | 79.00 |
| Total expenses | 503.00 | 533.00 | 579.00 | 830.00 | 847.00 | 869.00 | 955.00 | 821.00 | 953.00 | 830.00 | 934.00 | 634.00 | 746.00 | 770.00 | 809.00 | 700.00 |
| Profit before exceptional items and tax | -4.00 | 6.00 | 44.00 | 84.00 | 95.00 | 100.00 | 112.00 | 94.00 | 115.00 | 95.00 | 101.00 | 57.00 | 67.00 | 72.00 | 78.00 | 71.00 |
| Exceptional items | -13.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -2.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | -18.00 | 6.00 | 44.00 | 84.00 | 95.00 | 100.00 | 110.00 | 94.00 | 115.00 | 95.00 | 101.00 | 57.00 | 67.00 | 72.00 | 78.00 | 71.00 |
| Current tax | 3.00 | 8.00 | 11.00 | 23.00 | 26.00 | 28.00 | 26.00 | 24.00 | 31.00 | 24.00 | 20.00 | 14.00 | 18.00 | 19.00 | 28.00 | 18.00 |
| Deferred tax | 5.00 | -2.00 | 0.00 | -1.00 | -2.00 | -3.00 | 3.00 | -1.00 | -1.00 | 2.00 | 7.00 | 0.00 | 2.00 | -2.00 | -7.00 | 1.00 |
| Tax expense | 8.00 | 6.00 | 12.00 | 22.00 | 24.00 | 25.00 | 29.00 | 23.00 | 30.00 | 26.00 | 27.00 | 14.00 | 20.00 | 17.00 | 21.00 | 18.00 |
| Profit for the period | -25.00 | -0.00 | 45.00 | 62.00 | 71.00 | 75.00 | 79.00 | 67.00 | 81.00 | 63.00 | 64.00 | 31.00 | 37.00 | 48.00 | 54.00 | 53.00 |
| Profit attributable to owners | -25.00 | 1.00 | 48.00 | 62.00 | 70.00 | 0.00 | 79.00 | 0.00 | — | — | — | — | — | — | — | — |
| Profit attributable to non-controlling interests | -0.00 | -1.00 | -3.00 | 0.00 | — | 0.00 | 0.00 | 0.00 | — | — | — | — | — | — | — | — |
| Other comprehensive income | 2.00 | -2.00 | -6.00 | 1.00 | -1.00 | 0.00 | -0.00 | -0.00 | -1.00 | 1.00 | -2.00 | 0.00 | 0.00 | 2.00 | -2.00 | 0.00 |
| Total comprehensive income | -23.00 | -2.00 | 39.00 | 63.00 | 70.00 | 75.00 | 79.00 | 67.00 | 80.00 | 64.00 | 63.00 | 31.00 | 37.00 | 50.00 | 51.00 | 53.00 |
| Earnings per share, basic | -2.09 | 0.10 | 4.04 | 5.17 | 5.58 | 5.82 | 6.20 | 4.97 | 5.99 | 4.66 | 4.79 | 2.30 | 2.73 | 3.58 | 3.97 | 3.91 |
| Earnings per share, diluted | -2.09 | 0.10 | 4.04 | 5.17 | 5.58 | 5.82 | 6.20 | 4.97 | 5.99 | 4.66 | 4.78 | 2.30 | 2.73 | 3.58 | 3.97 | 3.84 |
Annual results, as filed
| Line | 2018-03-31 | 2020-03-31 | 2021-03-31 | 2022-03-31 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|---|---|---|
| Revenue from operations | 1,271.00 | 1,766.00 | 1,521.00 | 1,931.00 | 3,853.00 | 3,868.00 | 3,186.00 |
| Other income | 30.00 | 34.00 | 25.00 | 36.00 | 40.00 | 75.00 | 48.00 |
| Total income | 1,301.00 | 1,800.00 | 1,545.00 | 1,967.00 | 3,893.00 | 3,943.00 | 3,234.00 |
| Cost of materials consumed | 692.00 | 1,192.00 | 1,046.00 | 1,226.00 | 2,952.00 | 2,965.00 | 2,349.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | 65.00 | -41.00 | -52.00 | -18.00 | 36.00 | -36.00 | -28.00 |
| Employee benefit expense | 239.00 | 152.00 | 211.00 | 224.00 | 66.00 | 87.00 | 110.00 |
| Finance costs | 44.00 | 88.00 | 81.00 | 93.00 | 73.00 | 73.00 | 71.00 |
| Depreciation and amortisation | 51.00 | 29.00 | 30.00 | 33.00 | 27.00 | 30.00 | 51.00 |
| Other expenses | 372.00 | 342.00 | 236.00 | 366.00 | 347.00 | 419.00 | 406.00 |
| Total expenses | 1,463.00 | 1,763.00 | 1,551.00 | 1,925.00 | 3,502.00 | 3,537.00 | 2,960.00 |
| Profit before exceptional items and tax | -162.00 | 38.00 | -6.00 | 42.00 | 391.00 | 406.00 | 275.00 |
| Exceptional items | -5.00 | 0.00 | 0.00 | -13.00 | -3.00 | 0.00 | -65.00 |
| Profit before tax | -167.00 | 38.00 | -6.00 | 29.00 | 389.00 | 406.00 | 210.00 |
| Current tax | 3.00 | 2.00 | 2.00 | 28.00 | 103.00 | 100.00 | 79.00 |
| Deferred tax | -23.00 | -22.00 | 11.00 | 2.00 | -3.00 | 7.00 | -8.00 |
| Tax expense | -20.00 | -21.00 | 13.00 | 30.00 | 100.00 | 107.00 | 71.00 |
| Profit for the period | -147.00 | -36.00 | -19.00 | -1.00 | 286.00 | 275.00 | 123.00 |
| Profit attributable to owners | 0.00 | 0.00 | -15.00 | -0.00 | 286.00 | — | — |
| Profit attributable to non-controlling interests | 0.00 | 0.00 | -4.00 | -0.00 | 0.00 | — | — |
| Other comprehensive income | 35.00 | 5.00 | 8.00 | 6.00 | 0.00 | -1.00 | 0.00 |
| Total comprehensive income | -112.00 | -31.00 | -11.00 | 5.00 | 286.00 | 274.00 | 123.00 |
| Earnings per share, basic | 24.88 | -2.96 | -1.28 | -0.03 | 22.46 | 20.41 | 9.12 |
| Earnings per share, diluted | 24.88 | -2.96 | -1.28 | -0.03 | 22.46 | 20.39 | 9.11 |
Balance sheet, as filed
| Line | 2022-09-30 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|
| Total assets | 2,033.00 | 2,728.00 | 3,229.00 | 3,561.00 | 3,762.00 | 3,801.00 | 4,039.00 |
| Non-current assets | 838.00 | 955.00 | 1,242.00 | 1,333.00 | 1,583.00 | 1,773.00 | 1,833.00 |
| Current assets | 1,195.00 | 1,772.00 | 1,987.00 | 2,229.00 | 2,179.00 | 2,028.00 | 2,183.00 |
| Property, plant and equipment | 610.00 | 614.00 | 648.00 | 643.00 | 831.00 | 956.00 | 1,084.00 |
| Capital work-in-progress | 5.00 | 58.00 | 108.00 | 156.00 | 40.00 | 128.00 | 72.00 |
| Goodwill | 57.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other intangible assets | 2.00 | 98.00 | 92.00 | 92.00 | 153.00 | 143.00 | 81.00 |
| Inventories | 440.00 | 403.00 | 524.00 | 579.00 | 523.00 | 649.00 | 588.00 |
| Trade receivables | 356.00 | 620.00 | 533.00 | 735.00 | 671.00 | 517.00 | 630.00 |
| Cash and cash equivalents | 128.00 | 97.00 | 329.00 | 73.00 | 25.00 | 41.00 | 162.00 |
| Total equity and liabilities | 2,033.00 | 2,728.00 | 3,229.00 | 3,561.00 | 3,762.00 | 3,801.00 | 4,039.00 |
| Equity | 883.00 | 1,385.00 | 2,231.00 | 2,354.00 | 2,484.00 | 2,540.00 | 2,457.00 |
| Equity share capital | 24.00 | 25.00 | 27.00 | 27.00 | 27.00 | 27.00 | 27.00 |
| Other equity | 859.00 | 1,359.00 | 2,204.00 | 2,327.00 | 2,456.00 | 2,511.00 | 2,429.00 |
| Total liabilities | 1,150.00 | 1,343.00 | 998.00 | 1,207.00 | 1,278.00 | 1,261.00 | 1,582.00 |
| Non-current liabilities | 93.00 | 297.00 | 268.00 | 250.00 | 181.00 | 163.00 | 378.00 |
| Current liabilities | 1,057.00 | 1,046.00 | 730.00 | 957.00 | 1,098.00 | 1,098.00 | 1,205.00 |
| Borrowings, non-current | 24.00 | 44.00 | 37.00 | 31.00 | 25.00 | 19.00 | 170.00 |
| Borrowings, current | 258.00 | 217.00 | 29.00 | 365.00 | 504.00 | 525.00 | 352.00 |
| Trade payables | 375.00 | 262.00 | 319.00 | 249.00 | 235.00 | 214.00 | 330.00 |
Cash flow, as filed
| Line | 2022-03-31 | 2022-09-30 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | 55.00 | 5.00 | -147.00 | 86.00 | -231.00 | -97.00 | 185.00 | 322.00 |
| Net cash from investing activities | -69.00 | -19.00 | -79.00 | -537.00 | -316.00 | -579.00 | -132.00 | -133.00 |
| Net cash from financing activities | -53.00 | 135.00 | 268.00 | 724.00 | 291.00 | 372.00 | -39.00 | -52.00 |
| Purchase of property, plant and equipment | 102.00 | 7.00 | 58.00 | 164.00 | 71.00 | 220.00 | 203.00 | -7.00 |
| Net increase in cash | -71.00 | 119.00 | 41.00 | 274.00 | -256.00 | -304.00 | 16.00 | 137.00 |
| con:CFO.BEFORE_TAX | 66.00 | 25.00 | -118.00 | 186.00 | -197.00 | 0.00 | 165.00 | 113.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 12.00 | 20.00 | 29.00 | 101.00 | 34.00 | 96.00 | 28.00 | -62.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | -0.00 | 0.00 | 0.00 | -2.00 | 48.00 | 148.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:PPE_DISPOSALS | 6.00 | 0.00 | 0.00 | 0.00 | 0.00 | 6.00 | 6.00 | -292.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 58.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 1.00 | 163.00 | 51.00 | 108.00 | 27.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-07-07 | 2023-09-30 | 2023-12-13 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 44.97 | 44.97 | 42.46 | 42.46 | 42.46 | 40.46 | 40.46 | 40.46 | 40.46 | 40.46 | 0.40 | 0.40 | 0.40 | 0.40 |
| Domestic institutions | 9.10 | 10.46 | 11.57 | 12.27 | 13.72 | 14.12 | 13.94 | 15.00 | 13.41 | 11.68 | 0.13 | 0.13 | 0.12 | 0.15 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 9.34 | 0.10 | 0.10 | 0.09 | 0.12 |
| Insurance companies | 1.03 | 1.80 | 1.75 | 1.79 | 2.82 | 1.80 | 2.17 | 3.38 | 3.60 | 2.14 | 0.03 | 0.03 | 0.03 | 0.03 |
| Foreign institutions | 12.60 | 16.84 | 20.24 | 20.04 | 17.27 | 19.56 | 16.33 | 13.67 | 11.63 | 9.49 | 0.10 | 0.11 | 0.11 | 0.11 |
| Government | — | — | — | — | — | — | — | — | — | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 |
| Public | 55.03 | 55.03 | 57.54 | 57.54 | 57.54 | 59.54 | 59.54 | 59.54 | 59.54 | 59.54 | 0.60 | 0.60 | 0.60 | 0.60 |
| Non-institutional | 33.32 | 27.72 | 25.71 | 25.21 | 26.54 | 25.84 | 29.26 | 30.87 | 34.50 | 38.36 | 0.37 | 0.36 | 0.36 | 0.33 |
| Shares outstanding | 127171089 | 127171089 | 134673768 | 134673768 | 134673768 | 134673768 | 134673768 | 134673768 | 134673768 | 134673768 | 134673768 | 134673768 | 134673768 | 134673768 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| Ramkrishna Titagarh Rail Wheels Ltd | Joint Venture | Any other transaction, Investment | 515,250,000.00 | 2 |
| Titagarh Firema S.p.A | Associates | Any other transaction, Investment, Purchase of goods | 128,200,000.00 | 4 |
| Titagarh Enterprises Limited | Enterprises over which Key Manager | Any other transaction, Investment | 71,440,000.00 | 3 |
| Titagarh Firema Engineering Services Private Limited | Joint Venture | Any other transaction, Investment | 22,310,000.00 | 3 |
| Shri J P Chowdhary | Key Management Personnel (KMPs)/Di | Remuneration | 12,860,000.00 | 1 |
| Shri Umesh Chowdhary | Key Management Personnel (KMPs)/Di | Remuneration | 12,860,000.00 | 1 |
| Shri Anil Kumar Agarwal | Key Management Personnel (KMPs)/Di | Any other transaction, Remuneration | 11,460,000.00 | 2 |
| Shri Prithish Chowdhary | Key Management Personnel (KMPs)/Di | Remuneration | 4,890,000.00 | 1 |
| Shri Saurav Singhania | Key Management Personnel (KMPs) | Remuneration | 4,310,000.00 | 1 |
| Shri Saket Kandoi | Key Management Personnel (KMPs)/Di | Remuneration | 3,540,000.00 | 1 |
| Shri Dinesh Arya | Key Management Personnel (KMPs) | Remuneration | 2,390,000.00 | 1 |
| Shivaliks Mercantile Private Limited | Joint Venture | Any other transaction, Investment | 1,810,000.00 | 2 |
| Nicco Eastern Private Limited | Enterprises over which Key Manager | Purchase of goods or services | 1,730,000.00 | 1 |
| Shri Krishan Kumar Jalan | Key Management Personnel (KMPs)/Di | Any other transaction | 1,080,000.00 | 1 |
| Mr. Bontha Prasada Rao | Key Management Personnel (KMPs)/Di | Any other transaction | 1,030,000.00 | 1 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2025-06-06 | FYFY25 | Read the call | |
| 2024-02-08 | Q3FY24 | TITAGARH WAGONS LIMITED | Read the call |
| 2023-10-26 | Q2FY24 | SYSTEMS LIMITED, TITAGARH RAIL SYSTEMS LIMITED | Read the call |
| 2023-07-27 | Q1FY24 | Read the call | |
| 2023-05-29 | Q4FY23 | Read the call | |
| 2022-09-21 | Q1FY23 | ANALYST:, GROUP, SAURAV | Read the call |
| 2022-08-23 | Q1FY23 | ANALYST:, GROUP, LIMITED, SAURAV, WAGONS LIMITED | Read the call |
| 2022-02-21 | Q3FY22 | ANALYST:, LIMITED, TITAGARH WAGONS LIMITED | Read the call |
Some earlier announcements under this heading are covering letters only — no transcript was attached.
What they said about it, quarter by quarter
| Topic | FYFY25 | Q1FY23 | Q1FY24 | Q2FY24 | Q3FY22 | Q3FY24 | Q4FY23 |
|---|---|---|---|---|---|---|---|
| Capex | As far as RK Forgings, they mentioned around INR 2,000 crore kind of CAPEX is estimated. | We are still working on all the detailed capex and will definitely come back to the market when we announce the exact capex number but having said tha… | — | And the last question is regarding, how much capex do we plan this year? | February 14, 2022 incremental revenue from that business we could see in the coming couple of years and are there any incremental capex that would be … | And sir, what would be our capex in the first 9 months of this year? | Kaushik Mohan Sir, the last and final question, what can be the Capex for the next four years plan? |
| Capital allocation | — | With the acquisition of Titagarh Firema, we have been able to get all of this and as you are aware we were able to win the contract of Pune metro wher… | — | — | — | — | — |
| Costs | — | — | — | So, sir, my first major question is on the raw materials consumed. | — | — | So, suffice to say that, based on the experience of the company over the last 25 years, which is a very long period of time to be able to judge the ef… |
| Debt and cash | — | On standalone we have long-term net debt is zero. | — | As far as the working capital cycle is concerned, we are more than confident that we will be able to maintain our targeted working capital cycle of --… | In India, on the long-term basis we are net debt free. | So maybe if you can reply in terms of like, say, our working capital cycle deals, like you can say, at FY '23 ends. | — |
| Demand | Apart from that, once our EMU and MEMU propulsion is approved by the railways, that in itself, we have an order book of close to INR 400 crores on tha… | Okay great just last question, what is the company's exposure for wagon orders to the private sector? do we have an order book over there or are we ma… | Umesh Chowdhary We do not give that data because these are competitive in nature, but I would only like to say that we still have a very healthy order… | So, looking at our order book, Invitalia recently floated a tender for 20,000 wagons. | This takes up the order book of the Italian subsidiary including the framework contracts that we have to about €500 million and €500 million would be … | The order book stands at about INR27,500 crores. | Sir on the Metro side is there any pipeline and what would be the status on Surat and Ahmedabad metros, if you could throw some lights on future oppor… |
| Guidance | I mean you mentioned that we expect a tender from Indian Railways, maybe sometimes towards the end of this year. | In our industry in our segments, blended EBITDA margin of 8% to 10% is what is sustainable, so our request would be not to compare with one quarter or… | So, definitely, we expect that the visibility is there, so, the momentum should continue. | It would be in line with the expectations of the government and the people of India, and we expect to be able to offer to the people of India, a very … | We expect that within the Q4 of this year maybe a little bit of spillover to Q1 of next year, we will complete all the legacy contracts that we have i… | It was almost 45% of the tender, I would say, was short closed, but we expect that will come back again with the revised schedules so that capacities … | When can we expect the results for this? |
| Margin | We have an EBITDA margin of about 10% in this quarter. | While bidding for contracts, we have to strike the balance between volume and margin. | So, in terms of a few areas of fixed costs going here or there or other costs going here and there, the margin of 1% or 2% changes in a quarter becaus… | The gross margin in our business is a function of the type of wagon that we are producing. | On a blended basis, this is our margins in India as we have always maintained a better margin of around 8% to 10% is what we are expecting and that is… | What is the estimation you are having in terms of volume that you'll break even the margin expansion in this segment like 2% to 3%, we are paying as o… | My first question like what would be the status for trial and propulsion systems for railways and after propulsion systems like it's the kind of indig… |
| People | — | So one of the utilization would be this and the second is to stabilize. | As of now the capacity utilization is very small. | — | — | Or this is just because of the overutilization in our foundry. | Management Team In terms of utilization of the capacity is concerned, if any venture is set up, where 40% capacity is underwritten by a single custome… |
| Pricing | — | In the transit business we are new entrants, our pricing strategy is a little more aggressive so maybe in the initial years we will have lesser margin… | Would it be fair to say that they have come at significantly better pricing as well as payment terms? | And going forward, the benchmark for Titagarh, the pricing is going to be derived from there. | Also, I mentioned it in the earlier calls that there are always possibilities of some quarter-to-quarter variations in terms of the movement of the wh… | You don't win some tenders on account of either the pricing or your capacity or even your capacity planning based on the market circumstances, which i… | — |
| Revenue growth | On the traction motor side, I think our top line is around INR 300 crores, and the opportunity size is mentioned around INR 2,000 crores kind of oppor… | Going forward considering the growth of the Indian economy and the very fact that India is on its way to become a $5 trillion economy in the future, w… | Manish Maheshwar And your-- I mean, the current contribution from your Passenger business is about 18%, 19% of the total top line, right? | So, the next year could see a significant, say 50% kind of volume growth at least in freight rolling stock? | — | — | The current low level of EBITDA is on account of the no top line in our business, the top line is what drives the bottom line. |
What they said they would do
Sentences in which management set an expectation. Each names the speaker and the page of the transcript it came from.
| Date | Quarter | Who | What they said |
|---|---|---|---|
| 2022-02-21 | Q3FY22 | TITAGARH WAGONS LIMITED | The size of operations of Italy are as big I would say as close to the Indian operations, of course the Indian operations are likely to grow further in terms of the margin, the Italian business normally has a different dynamic of our EBITDA expectations so we expect in EBITDA of between 6% and 7% and that is how the Italian numbers are going to add up to the consolidated. |