Titagarh Rail Systems Ltd logo

Titagarh Rail Systems Ltd

TITAGARH NSE

Key Fundamentals

MicrocapRailway WagonsCapital Goods
Market Cap
₹10,979 Cr
Volatility
Moderate
P/E Ratio
60.1
EBITDA
₹266 Cr
Return on Equity
11.07%
Debt to Equity
0.25
Book Value
₹182.35
EPS
₹21.8
52W High
₹971
52W Low
₹568.7

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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42 extracted metrics + investor summaries across FY15–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Weaknesses

3
  • Company has a low return on equity of 11.3% over last 3 years.
  • Dividend payout has been low at 6.53% of profits over last 3 years
  • Promoter holding has decreased over last 3 years: -7.36%

Growth Rate

Revenue Growth
-19.21% ↘
Net Income Growth
-58.35% ↘
Cash Flow Change
-213.54% ↘
ROE
-14.85% ↘
ROCE
-8.13% ↘
EBITDA Margin (Avg.)
-36.23% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 18d ago
AI opinion · based on fundamentals
Risk high

Titagarh Rail Systems Ltd is a mid-cap industrials company with a market cap of ₹11,176 Cr trading at a PE of 90.5x. The company delivered strong long-term profit growth (27% CAGR over 10 years) but has seen a sharp TTM profit decline of -42% and sales contraction of -18%, raising questions about near-term earnings trajectory.

Bull Case 8
  • Strong long-term profit compounding at 27% CAGR over 10 years demonstrates sustained earnings power over cycles
  • 5-year compounded profit growth of 65% CAGR reflects a significant earnings ramp-up in recent years
  • 5-year stock CAGR of 60% indicates substantial wealth creation and market re-rating of the business
  • 10-year compounded sales growth of 13% CAGR shows consistent top-line expansion over a long period
  • 5-year compounded sales growth of 16% CAGR indicates improving revenue scale in the medium term
  • 10-year stock CAGR of 24% demonstrates long-term value creation for shareholders
  • Price-to-book ratio of 4.53x reflects market confidence in the asset base and future earnings potential of the rail systems business
  • 3-year ROE of 11% shows the company has been generating reasonable returns on equity in recent years
Bear Case 8
  • TTM compounded profit has declined -42%, signalling a sharp deterioration in recent earnings
  • TTM sales have contracted -18%, indicating significant revenue headwinds in the current period
  • PE ratio of 90.5x is extremely elevated, leaving little room for execution missteps
  • Promoter holding has decreased by -7.37% over the last 3 years, raising governance and confidence concerns
  • Last year ROE of only 6% represents a deterioration from the 3-year average of 11%, suggesting declining capital efficiency
  • Dividend payout has been low at 6.53% of profits over the last 3 years with a yield of just 0.12%, offering minimal income to shareholders
  • 1-year stock CAGR of -4% shows the market has already begun to price in the earnings slowdown
  • 3-year sales CAGR of only 5% is modest relative to the high valuation multiple of 90.5x PE

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 15d ago
Neutral 1
  • Fifth DSC A24 launched for Navy Aug 1

    Titagarh Naval Systems launched the fifth and final Diving Support Craft A24 for the Indian Navy on Aug 1, 2026, completing the series with ~70% indigenous content. Subsidiary TNSL is also developing a 50-acre shipyard at Falta with an order book of ₹500 crore.

TL;DR: Limited news flow this period with a single neutral update on the defence subsidiary completing a Navy vessel series. The ₹500 crore shipyard order book and new Falta facility signal steady diversification beyond rail, but no direct catalysts or risks emerged for the core rail business. Trend is stable with potential upside from defence order pipeline.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
911
935
955
1,052
903
1,057
902
1,006
679
799
832
875
765
Expenses
805
821
844
935
806
932
809
987
615
725
741
783
671
Operating Profit
106
115
111
118
97
125
94
18
64
74
91
92
94
OPM %
12%
12%
12%
11%
11%
12%
10%
1.8%
9%
9%
11%
11%
12%
Other Income
4
7
14
12
12
10
23
-128
11
14
0
14
7
Interest
19
20
18
16
13
17
21
22
18
18
18
17
15
Depreciation
7
7
7
7
7
8
6
8
12
12
13
14
15
PBT
84
95
100
108
90
111
89
-140
45
57
60
75
71
Tax %
27%
25%
25%
27%
26%
27%
29%
-12%
32%
35%
25%
28%
26%
Net Profit
62
71
75
79
67
81
63
-124
31
37
45
54
53
EPS in Rs
5.17
5.55
5.56
5.86
4.98
5.99
4.66
-9.09
2.29
2.74
3.35
4.01
3.9
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
761
959
1,714
1,268
1,559
1,766
1,521
1,468
2,780
3,853
3,868
3,186
3,272
Expenses
721
929
1,605
1,365
1,550
1,645
1,440
1,303
2,529
3,404
3,459
2,855
2,921
Operating Profit
40
30
108
-97
9
121
81
165
251
449
409
331
351
OPM %
5%
3.2%
6%
-8%
0.6%
7%
5%
11%
9%
12%
11%
10%
11%
Other Income
0
20
24
25
25
-60
25
-61
34
38
75
-15
34
Interest
18
17
31
44
65
88
81
57
81
73
73
71
68
Depreciation
26
46
52
51
24
29
30
18
22
27
30
51
54
PBT
-4
-13
50
-167
-56
-57
-6
29
181
386
382
194
263
Tax %
177%
52%
45%
-12%
-59%
-36%
237%
102%
31%
26%
28%
37%
—
Net Profit
-10
-20
27
-147
-23
-36
-19
-1
126
286
275
123
188
EPS in Rs
-0.33
-1.69
2.33
-12.43
-2.47
-2.96
-1.26
-0.03
10.89
21.25
20.52
9.13
14
Div. Payout %
-48%
-47%
34%
-2%
-12%
0%
0%
0%
5%
4%
5%
11%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
20
23
23
23
23
23
24
24
24
27
27
27
Reserves
669
930
944
832
793
743
817
818
940
2,191
2,456
2,429
Borrowings
125
233
372
624
896
730
847
920
353
166
627
623
Other Liabilities
246
1,493
1,356
1,210
975
775
775
903
931
832
651
960
Total Liabilities
1,060
2,678
2,695
2,689
2,687
2,272
2,462
2,664
2,248
3,216
3,761
4,039
Fixed Assets
416
977
933
958
935
872
871
966
732
748
992
1,394
CWIP
27
13
15
27
36
0
41
61
12
174
122
72
Investments
1
21
82
83
87
29
31
30
32
198
299
279
Other Assets
616
1,666
1,665
1,621
1,630
1,371
1,518
1,607
1,472
2,097
2,348
2,295
Total Assets
1,060
2,678
2,695
2,689
2,687
2,272
2,462
2,664
2,248
3,216
3,761
4,039
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
102
-154
-177
-121
-124
154
68
55
41
86
-97
322
Investing
-25
-50
44
-45
-49
4
-60
-73
-61
-537
-579
-133
Financing
-69
216
111
191
214
-227
43
-53
67
724
372
-52
Net Cash Flow
8
11
-22
25
40
-70
51
-71
46
274
-304
137
Free Cash Flow
61
-176
-199
-150
-188
129
9
-41
4
-78
-328
-45
CFO/OP
280
-501
-154
104
-1,161
136
82
40
43
41
0
118
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
54
87
50
79
81
52
136
58
37
50
63
72
Inventory Days
176
471
182
213
203
119
142
176
78
64
65
92
Days Payable
75
248
150
148
209
111
146
153
55
39
29
52
Cash Conversion Cycle
155
310
82
145
75
60
131
81
60
75
99
113
Working Capital Days
55
57
38
3
62
96
90
48
20
61
58
76
ROCE %
5%
2%
6%
-8%
1%
7%
5%
9%
18%
25%
17%
11%

Shareholding Pattern

As of Jun 2026
Promoters 40.46%
Public 28.80%
DIIs 15.39%
FIIs 10.87%
Others 4.48%
Government 0.01%
Total 100.01%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
44.27%
45.23%
45.77%
47.00%
47.05%
47.26%
47.26%
47.82%
47.83%
47.82%
44.97%
42.46%
42.46%
40.46%
40.46%
40.46%
40.46%
40.46%
40.46%
40.46%
40.46%
40.46%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
16.84%
20.04%
17.27%
19.56%
16.33%
13.67%
11.63%
9.49%
9.56%
10.66%
10.67%
10.87%
DIIs
9.14%
9.14%
9.34%
8.54%
7.73%
7.37%
7.00%
6.79%
6.60%
9.68%
10.46%
12.27%
13.72%
14.12%
13.94%
15.00%
13.41%
11.68%
12.78%
12.59%
12.45%
15.39%
Government
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
Public
38.05%
33.23%
30.62%
30.31%
29.97%
29.34%
28.16%
27.99%
28.24%
26.44%
23.28%
21.14%
22.49%
21.71%
25.23%
26.94%
30.09%
32.86%
32.04%
31.38%
31.80%
28.80%
Others
8.53%
12.39%
14.26%
14.14%
15.24%
16.03%
17.57%
17.39%
17.32%
16.05%
4.44%
4.08%
4.05%
4.13%
4.03%
3.92%
4.41%
5.50%
5.15%
4.90%
4.62%
4.48%
No. of Shareholders
1,19,105
1,14,212
1,14,945
1,11,739
1,09,773
1,08,839
1,04,831
1,04,900
1,07,845
1,41,561
1,91,910
2,24,205
2,92,395
3,62,203
4,61,442
5,15,638
5,87,422
6,17,505
5,91,488
5,71,503
5,59,860
5,24,155

Documents

Frequently Asked Questions about Titagarh Rail Systems Ltd

What does Titagarh Rail Systems Ltd do?
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 do...
Where is Titagarh Rail Systems Ltd (TITAGARH) listed?
Titagarh Rail Systems Ltd is listed on the Indian stock exchanges. It is listed on NSE: TITAGARH and BSE: 532966. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Titagarh Rail Systems Ltd belong to?
Titagarh Rail Systems Ltd operates in the Industrials sector within the Industrial Manufacturing industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Titagarh Rail Systems Ltd?
Titagarh Rail Systems Ltd has a market capitalisation of approximately ₹10978.61 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Titagarh Rail Systems Ltd?
The Price-to-Earnings (PE) ratio of Titagarh Rail Systems Ltd is 60.10. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Titagarh Rail Systems Ltd?
Over the past 52 weeks, Titagarh Rail Systems Ltd has traded between a low of ₹568.7 and a high of ₹971. This range helps investors understand the stock's price volatility and recent trading levels.
Does Titagarh Rail Systems Ltd pay dividends?
Yes, Titagarh Rail Systems Ltd has a dividend yield of 0.12%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Titagarh Rail Systems Ltd?
Titagarh Rail Systems Ltd has a Return on Equity (ROE) of 11.07%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Titagarh Rail Systems Ltd on Tapetide?
On Tapetide, you can view Titagarh Rail Systems Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

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]

Website titagarh.in
CEO Mr. Jagdish Prasad Chowdhary B.Com., MIMA
Employees 1,222
Listed 2008-04-21
Face Value ₹ 2
Issued Size 13,46,73,768

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