Titagarh Rail Systems Ltd Share Price – NSE  / BSE

Capital Goods-Non Electrical Equipment, Small Cap

Titagarh Rail Systems announced that the 27th Annual General Meeting (AGM) of the company will be held on 27 August 2024.

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Net profit of Titagarh Rail Systems rose 8.45% to Rs 67.01 crore in the quarter ended June 2024 as against Rs 61.79 crore during the previous quarter ended June 2023. Sales declined 0.85% to Rs 903.05 crore in the quarter ended June 2024 as against Rs 910.76 crore during the previous quarter ended June 2023.

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Titagarh Rail Systems (TRSL) has commenced the export of traction converters, pursuant to which the first batch of 8 converters were shipped to Titagarh Firema S.p.A (Titagarh Firema), Italy on 19 July 2024. The said export is part of a EUR 7.18 million (Rs 65 crore approx.) order received by TRSL from Titagarh Firema and marks the first rollout of traction converters from Passenger Rolling Stock Facility of Titagarh, India.

Titagarh Firema received an order from Regione Lazio, Italy, for the design, manufacture and supply of 38 trainsets for a total value of approximately EUR 276 Million, with a design speed of 100 kmph. .

Titagarh received the order from Firema, Italy to supply traction converters for the first batch of 11 trains to Regione Lazio Viterbo line, operating at 3 KV, and the Regione Lazio Lido line, operating at 1.5 KV. TRSL plans to ship two train sets, or eight converters, each month to complete the order.

Titagarh India is proud to announce the successful production and indigenisation of these converters. The design was expertly handled by Titagarh's Italian associate, Titagarh Firema, showcasing a seamless partnership between the entities. This collaboration has laid a robust foundation for the manufacturing systems and processes for such highly technological items in Uttarpara.

The Titagarh India Passenger Rolling Stock Facility currently has a manufacturing capacity of 25 converters per month, which it plans to increase to 50 converters per month, including Mainline Electric Multiple Unit (MEMU) and Electric Multiple Unit (EMU) converters.

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Titagarh Rail Systems will hold a meeting of the Board of Directors of the Company on 30 July 2024.

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