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Titagarh Rail Systems Limited (TITAGARH.NS)

INR879.10 +20.40 (+2.38%)
IN NSE Industrials Railroads
Address Titagarh Towers 700107
Kolkata, IN
CEO Umesh Chowdhary
IPO 2008-04-21
ISIN INE615H01020

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Also trades on Bombay Stock Exchange · TITAGARH.BO (INR) National Stock Exchange of India · TITAGARH.NS (INR) National Stock Exchange of India · TWL.NS (INR)
Description

Titagarh Rail Systems Limited, an Indian company established in 1983 and based in Kolkata, is a global manufacturer and supplier of comprehensive rail transportation solutions for both freight and passenger sectors. The company operates through two main divisions: Freight Rail Systems and Passenger Rail Systems. Within its freight segment, Titagarh provides critical components like locomotive shells, coupling mechanisms, draft gears, cast bogies, and cast manganese steel crossing products. It also produces a diverse array of wagons, including automobile carriers, flatcars, hoppers, tank wagons, boxcars, covered wagons, and bespoke special-purpose designs, in addition to brake vans. For passenger rail, the company manufactures various rolling stock such as high-speed electric locomotives, electric multiple unit (EMU) train sets, urban metro systems, light rail vehicles, and diesel-electric multiple units (DEMUs), including their essential body shells and bogies. Furthermore, it supplies advanced propulsion and electrical systems, encompassing traction converters, power electronics, complete propulsion packages, auxiliary power supplies, electronic control equipment, traction motors, and integrated train control and monitoring systems (TCMS) comprising both hardware and software. Beyond manufacturing, Titagarh offers a wide range of services, including redesign, ongoing maintenance, global technical assistance, repair, detailed inspection, refurbishment, systems and electrical equipment upgrades, exterior and interior aesthetic enhancements, and power system improvements. Diversifying its operations, the company is also involved in shipbuilding, constructing vessels like coastal research ships, naval craft, passenger vessels, tugboats, and inland water transport carriers. Additionally, it fabricates various bridge types, such as modular panel, bailey, unibridges, and matière X designs. Titagarh also produces specialized defense items, including shelters, military-specific wagons, EMI/EMS containers, CBRNe equipment, mine ploughs, pressure vessels, and custom canopies. The company, formerly known as Titagarh Wagons Limited, officially rebranded to Titagarh Rail Systems Limited in May 2023.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
INR879.10 +20.40 (+2.38%)
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Volume Profile
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Liquidity & share structure
Average Volume
2M
Beta
0.74
Float Shares
79.67M
Free Float %
59.2%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-2.99% -1.85% +4.16% +14.34% -2.61% -10.15% -11.72% +125.54% +1,311.00% +787.05% +466.92%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
879.10
Ratings Trend (MoM) 88% Bullish
Rating 2026-05 Change
Strong Buy 0 0
Buy 7 0
Hold 1 0
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
5.43
Safe zone
Piotroski F-Score
4 / 9
Average
MOAT Score
2 / 10
No MOAT
Composite Rating
D+
Overall Score
1 / 5
Low
DCF Score
1 / 5
Low
ROE Score
1 / 5
Low
ROA Score
1 / 5
Low
D/E Score
1 / 5
Low
P/E Score
1 / 5
Low
P/Book Score
1 / 5
Low
Operational MOAT
✗ Below peers
  • Revenue growth Railroads: +4.4%
    -17.6% Q1'26: -12.9% (vs Q1'25)
  • EPS growth Railroads: +13.1%
    -55.6% Q1'26: -16.9% (vs Q1'25)
  • FCF margin FCF growth · Railroads: +40.4%
    +4.9% Q1'26: -2.0% (vs Q1'25)
  • EBIT margin Railroads: +14.1%
    +9.3% Q1'26: +9.5% (vs Q1'25)
  • ROIC Railroads: +5.9%
    +6.8% Q1'26: +8.5% (vs Q1'25)
  • Share dilution Railroads: +0.4%
    +0.2% Q1'26: +0.9% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Railroads: 1.34×
    1.79× Q1'26: 1.60× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.78) × ERP
WACC = 95% × Ke + 5% × Kd (11.7%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Current price: 879.10
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Mar 2015
actual
Mar 2016
actual
Mar 2017
actual
Mar 2018
actual
Mar 2019
actual
Mar 2020
actual
Mar 2021
actual
Mar 2022
actual
Mar 2023
actual
Mar 2024
actual
Mar 2025
actual
Mar 2026
6 Rev. Ana.
4 EPS Ana.
Mar 2027
7 Rev. Ana.
5 EPS Ana.
Mar 2028
6 Rev. Ana.
4 EPS Ana.
Mar 2029
1 Rev. Ana.
2 EPS Ana.
Mar 2030
1 Rev. Ana.
2 EPS Ana.
Revenue
7.40B
est: 6.53B (+13.2%)
9.52B
est: 4.43B (+115.0%)
17.13B
est: 14.80B (+15.7%)
12.67B
est: 12.36B (+2.5%)
15.59B
est: 7.45B (+109.4%)
17.66B
est: 12.15B (+45.4%)
15.21B
est: 11.17B (+36.1%)
14.68B
est: 14.60B (+0.5%)
27.80B
est: 25.73B (+8.0%)
38.53B
est: 38.46B (+0.2%)
38.68B
est: 39.39B (-1.8%)
31.95B
31.85B – 34.69B
-18.9% YoY
40.91B
35.26B – 48.40B
+28.1% YoY
76.85B
68.13B – 84.89B
+87.8% YoY
78.22B
68.48B – 89.14B
+1.8% YoY
104.40B
91.40B – 118.97B
+33.5% YoY
EBITDA
362.05M
est: 728.73M (-50.3%)
462.27M
est: 493.76M (-6.4%)
1.33B
est: 1.65B (-19.7%)
-877.66M
est: 1.38B (-163.6%)
1.08B
est: 830.51M (+30.2%)
1.39B
est: 1.36B (+2.6%)
1.05B
est: 1.25B (-15.3%)
1.83B
est: 1.63B (+12.2%)
3.06B
est: 2.87B (+6.6%)
4.71B
est: 4.29B (+9.8%)
5.08B
est: 4.39B (+15.7%)
3.56B
3.55B – 3.87B
-18.9% YoY
4.56B
3.93B – 5.40B
+28.1% YoY
8.57B
7.60B – 9.47B
+87.8% YoY
8.72B
7.64B – 9.94B
+1.8% YoY
11.64B
10.19B – 13.27B
+33.5% YoY
EBIT
105.39M
est: 656.92M (-84.0%)
3.10M
est: 445.11M (-99.3%)
682.99M
est: 1.49B (-54.1%)
-1.23B
est: 1.24B (-198.8%)
841.46M
est: 748.68M (+12.4%)
1.10B
est: 1.22B (-10.0%)
756.29M
est: 1.12B (-32.7%)
1.64B
est: 1.47B (+11.9%)
2.84B
est: 2.59B (+9.6%)
4.44B
est: 3.87B (+14.8%)
4.79B
est: 3.96B (+20.9%)
3.21B
3.20B – 3.49B
-18.9% YoY
4.11B
3.55B – 4.87B
+28.1% YoY
7.73B
6.85B – 8.54B
+87.8% YoY
7.86B
6.89B – 8.96B
+1.8% YoY
10.50B
9.19B – 11.96B
+33.5% YoY
Net Income
-33.06M
est: 226.70M (-114.6%)
-164.62M
est: -40.41M (-307.4%)
269.03M
est: 296.34M (-9.2%)
-1.44B
est: -902.49M (-59.1%)
-285.23M
est: 215.52M (-232.3%)
-341.88M
est: 484.92M (-170.5%)
-149.97M
est: 431.04M (-134.8%)
-3.28M
est: 889.02M (-100.4%)
1.30B
est: 1.48B (-11.9%)
2.86B
est: 2.94B (-2.5%)
2.76B
est: 3.06B (-9.8%)
2.19B
1.97B – 2.41B
-28.5% YoY
2.22B
1.81B – 2.63B
+1.3% YoY
4.19B
3.88B – 4.50B
+88.8% YoY
4.57B
3.83B – 5.39B
+9.0% YoY
6.75B
5.66B – 7.97B
+47.8% YoY
SGA
193.03M
est: 431.69M (-55.3%)
258.48M
est: 292.50M (-11.6%)
905.67M
est: 977.80M (-7.4%)
1.11B
est: 816.91M (+35.4%)
466.92M
est: 491.99M (-5.1%)
215.89M
est: 802.84M (-73.1%)
2.22B
est: 738.02M (+200.4%)
522.84M
est: 964.72M (-45.8%)
609.84M
est: 1.70B (-64.1%)
718.86M
est: 2.54B (-71.7%)
4.19B
est: 2.60B (+61.0%)
2.11B
2.10B – 2.29B
-18.9% YoY
2.70B
2.33B – 3.20B
+28.1% YoY
5.08B
4.50B – 5.61B
+87.8% YoY
5.17B
4.52B – 5.89B
+1.8% YoY
6.90B
6.04B – 7.86B
+33.5% YoY
EPS
-0.07
est: 1.68 (-103.9%)
-1.76
est: -0.30 (-486.7%)
2.33
est: 2.20 (+5.9%)
-12.44
est: -6.70 (-85.7%)
-2.47
est: 1.60 (-254.4%)
-2.96
est: 3.60 (-182.2%)
-1.28
est: 3.20 (-140.0%)
-0.03
est: 6.60 (-100.4%)
10.89
est: 10.97 (-0.7%)
22.46
est: 22.39 (+0.3%)
20.53
est: 22.53 (-8.9%)
16.10
14.61 – 17.92
-28.5% YoY
15.30
13.46 – 19.50
-5.0% YoY
30.45
28.83 – 33.39
+99.1% YoY
33.90
28.41 – 40.05
+11.3% YoY
50.10
41.99 – 59.19
+47.8% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-29 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-05-27 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-05-26 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-05-25 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-05-22 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-05-21 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-05-20 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-05-19 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-05-18 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-05-15 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-05-14 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-05-13 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-05-12 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-05-11 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-05-08 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-05-07 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-05-06 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-05-05 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-05-04 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-30 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-29 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-28 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-27 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-24 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-23 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-22 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-21 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-20 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-17 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-16 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
-1.79B
OE per share TTM
-13.13
Owner's Yield
-1.61%
Maintenance CapEx ratio
805.57%
Maint CapEx / Avg PPE
36.5%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

ETF Ownership

Top ETFs holding this stock Held by 4 ETFs in our universe
# ETF Weight Est. AUM exposure TER
1 State Street SPDR S&P Emerging Markets Small Cap ETF EWX 0.07% 473.6K 0.65%
2 State Street SPDR Portfolio Emerging Markets ETF SPEM 0.01% 955.1K 0.07%
3 WisdomTree India Earnings Fund EPI 0.00% 5.8K 0.84%
4 State Street SPDR Portfolio MSCI Global Stock Market ETF SPGM 0.00% 2.9K 0.09%

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
3.41M
Shares Outstanding
134.67M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Umesh Chowdhary Vice Chairman, MD & Chief Executive Officer 36M male
Jagdish Prasad Chowdhary MIMA Executive Chairman 36M male
Anil Kumar Agarwal Deputy MD & Director 19M male
Prithish Chowdhary Deputy MD & Whole-Time Director 10M male
Saurav Singhania Chief Financial Officer, Group Finance Controller & Chief Risk Officer 10M male
Aditya Purohit Company Secretary & Compliance Officer 430.0K male
Devendra Kumar Vyas COM. Chief Executive Officer of Freight Rail Systems male
Vijay Subramanian Chief Transformation Officer & Chief Executive Officer of Passenger Rail Systems male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits