Titagarh Rail Systems Ltd Share Price – NSE /  BSE

Capital Goods-Non Electrical Equipment, Small Cap

 Titagarh Rail Systems has secured its first order under the Safety and Signalling Systems from Indian Railways for the Design, Manufacture, Supply, Testing and Commissioning of Rail Borne Maintenance Vehicles (RBMV), including training of Indian Railways personnel and servicing and breakdown maintenance.

The RBMV is a specialised, self-propelled on-track maintenance machine engineered for efficient inspection, maintenance and restoration of railway infrastructure. The machine integrates advanced mechanised systems for track maintenance, overhead equipment (OHE) works, and allied activities, enabling enhanced operational safety, precision, reliability and asset availability across the rail network.

This maiden order marks a significant strategic milestone for TRSL, signalling the Company's successful entry into a high-value, technology-driven and safety-critical segment. The order aligns with Indian Railways' focus on mechanisation, safety enhancement and modernisation of maintenance practices, and reinforces TRSL's expanding capabilities beyond rolling stock manufacturing into integrated raili safety and maintenance solutions.

The order is valued at Rs 273.24 crore (incl. of GST).

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As per the letter of acceptance (LoA), the Kolkata-based company will undertake the design, manufacture, supply, testing, and commissioning of the RBMVs. The scope of work also includes training of Indian Railways personnel, along with servicing and breakdown maintenance support.

RBMVs are specialized self-propelled on-track machines used for inspection, maintenance, and restoration of railway infrastructure. These vehicles are equipped with advanced systems for track maintenance and overhead equipment (OHE) works, aimed at improving operational safety and reliability across the rail network.

The supply of the machines is scheduled to commence within 15 months from the date of the order, while delivery of all machines along with a complete set of spares is to be completed within 48 months.

Commenting on the development, the company said that this maiden order marks a key strategic milestone, signalling Titagarh Rail Systems? entry into a high-value, technology-driven, and safety-critical segment.

Titagarh Rail Systems (formerly known as Titagarh Wagons) is mainly engaged in the manufacturing and sale of freight wagons, passenger coaches, metro trains, train electricals, steel castings, specialized equipment, bridges, and ships. The company caters to both domestic and export markets.

The company reported a 54.26% decline in consolidated net profit to Rs 36.90 crore in Q2 FY26 as against Rs 80.69 crore posted in Q2 FY25. Revenue from operations decreased 24.40% year-on-year (YoY) to Rs 799.03 crore in the quarter ended 30 September 2025.

Shares of Titagarh Rail Systems rose 0.23% to Rs 776.60 on the BSE.

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Net profit of Titagarh Rail Systems declined 54.27% to Rs 36.90 crore in the quarter ended September 2025 as against Rs 80.69 crore during the previous quarter ended September 2024. Sales declined 24.40% to Rs 799.03 crore in the quarter ended September 2025 as against Rs 1056.95 crore during the previous quarter ended September 2024.

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Revenue from operations decreased 24.40% year-on-year (YoY) to Rs 799.03 crore in the quarter ended 30 September 2025.

Profit before tax from continuing operations stood at Rs 57.30 crore in Q2 FY26, down 48.31% year on year.

Total expenses fell 21.68% to Rs 746.08 crore in Q2 FY26 over Q2 FY25. During the quarter, cost of raw materials & components consumed stood at Rs 565.41 crore, down 30% YoY, while employee benefits expense was at Rs 25.54 crore, up 29.12% YoY.

On segmental front, revenue from freight rail systems stood at Rs 676.82 crore (down 32.32% YoY) and revenue from passenger rail systems stood at Rs 122.21 crore (up 114.70% YoY), during the quarter.

On a half-year basis, the company's consolidated net profit fell 54.12% to Rs 67.76 crore on 24.57% increase in revenue to Rs 1,478.33 crore in H1 FY26 over H1 FY25.

Meanwhile, the company?s board has approved an investment of up to Rs 50 crore in its wholly owned subsidiary, Titagarh Naval Systems (TNSL), in one or more tranches. This investment will be made by participating in TNSL?s proposed fund-raising initiative aimed at expanding its business alongside a strategic investor identified by TNSL.

Furthermore, the company has approved carrying out wagon leasing business activities under the Wagon Leasing Scheme (WLS) of the Railways.

In addition, the company has approved the conversion of the existing design and engineering business into a separate business unit to be known as ?TITAGARH Engineering & Technology Centre (TETC)?, to strengthen design capability, enhance efficiency, and drive innovation across the Group.

Moreover, the board has approved the constitution of a finance committee comprising Atul Joshi (Chairman), Umesh Chowdhary, vice chairman & managing director and Anil Kumar Agarwal, deputy managing director.

Titagarh Rail Systems (formerly known as Titagarh Wagons) is mainly engaged in the manufacturing and sell of freight wagons, passenger coaches, metro trains, train electricals, steel castings, specialised equipments & bridges, ships, etc. The company caters to both domestic and export market.

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