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Titagarh Rail Systems share price & results

Titagarh Rail Systems Limited· Capital Goods· Industrials

Results to
Jun 2026
Latest analysed call
Q1 FY27
Ownership as of
Sept 2026

India's largest wagon maker, building freight wagons, metro/Vande Bharat coaches, propulsion systems and warships.

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Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue765 ₹ crore+12.7% YoYQuarterly, as filedQuarter to Jun 2026Revenue from operations as filed.
Operating margin12.0 %+3.0 pts YoYOperating profit / revenueQuarter to Jun 2026For the quarter; a change is in percentage points.
Net profit53.0 ₹ crore+71.0% YoYQuarterly, as filedQuarter to Jun 2026Profit after tax as filed.
Return on equity8.21 %+0.3 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin-1.44 %+7.0 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)-10.24 %−18.0 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Jun 2026

Guidance

What management said, and what became of it

2 of 6 judged targets kept · 9 open · verdicts reflect calls analysed to Q1 FY27.

Titagarh Rail Systems Limited management guidance track record on Inve: 15 targets tracked across analysed earnings calls (2 achieved, 4 missed, 9 open).

TargetOriginal wordingSaidLatest callVerdict
Wheel Plant JV Trial Productiontrial production will be Q4 this year or Q1 next year. That is, between January to June, it will get stabilized
Call transcript, Q1 FY26 · 12 Aug 2025		Q1 FY26Q1 FY27:Management confirmed that sample production will start in August 2026 (Q2 FY27), missing the original target window of Jan-June 2026.
Call transcript, Q1 FY27 · 14 Aug 2026		Missed
Passenger Car Sales (FY27)we are extremely confident of being able to get to 200 cars in FY27.
Call transcript, Q4 FY26 · 1 Jun 2026		Q4 FY26Q1 FY27:Dispatched 30 coaches in Q1. New guidance is to ramp up to 45-50 coaches per quarter for the rest of FY27. This projects a full-year total of 165-180 cars, which is below the 200-car target.
Call transcript, Q1 FY27 · 14 Aug 2026		At Risk
Vande Bharat Prototype Deliveryintending to deliver the first train in Q3 of the next Financial Year [FY27].
Call transcript, Q2 FY26 · 18 Nov 2025		Q2 FY26Q1 FY27:Management reiterated the delayed timeline, guiding for delivery between 'end of this third quarter and beginning of fourth quarter' (referring to FY27 quarters). This is on track with the revised schedule.
Call transcript, Q1 FY27 · 14 Aug 2026		On Track

Source: Inve Guidance Tracker for Titagarh Rail Systems Limited · to Q1 FY27

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

4 of Titagarh Rail Systems Limited's 15 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 12 more targets are in the full ledger.

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Price

₹649.55 −2.08% · −₹13.8

Last close 26 Oct 2026 · NSE · INR · Source: Inve

Performance −25.7% 1Y

₹600₹700₹800₹900Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Oct 26Q2 FY26 — 18 Nov 2025Q3 FY26 — 16 Feb 2026Q4 FY26 — 1 Jun 2026Q1 FY27 — 14 Aug 2026

1Y: ₹874.7 on 24 Oct 2025 → ₹649.55. High ₹932.6 (18 Jun 2026), low ₹574.85 (30 Mar 2026).

Previous close
₹663.35
Market cap
₹8.7k Cr
52-week range
₹574.85 – ₹932.6
One year
−27.50%
Price to earnings (TTM to Jun 2026)
44.86×
Return on equity (TTM to Jun 2026)
8.21%

Overview

Symbol
NSE:TITAGARH
Industry
Industrials
Exchange
NSE
Currency
INR

What Titagarh Rail Systems Limited does

Based on the company's own presentations, annual report and earnings calls.

Titagarh Rail Systems designs and manufactures rolling stock for Indian and export rail networks, split into Freight Rail Systems (wagons, castings and components) and Passenger Rail Systems (metro coaches, EMU/MEMU trains, Vande Bharat trainsets, and propulsion/traction electronics such as converters, motors and TCMS). It entered wagon-making in 1997 as a forward integration of its steel-casting foundry, and has since added metro coach manufacturing, propulsion equipment, forged wheels (via a JV) and shipbuilding/naval systems (via a wholly-owned subsidiary), earning revenue from Indian Railways, metro corporations, private wagon customers, the Indian Navy/Coast Guard and select export customers.

Segments

  • Freight Rail Systems
  • Passenger Rail Systems
  • Shipbuilding and Maritime Systems
Market position
Largest wagon manufacturer in India by market share
Wagon manufacturing capacity
12,000 wagons per year
Foundry/steel-casting capacity
Two foundries, 30,000 MT melting capacity per year (foundry upgraded and expanded to 50,000 MT per annum)
Passenger Rail Systems manufacturing capacity
300 coaches per year
Manufacturing and engineering facilities
9 locations across India: Kolkata (PRS unit, wagon plant, 2 foundries, engineering centre), Bharatpur (wagon and defence), Hyderabad and Bangalore (engineering centres), Chennai (wheel manufacturing JV, regional office), plus depots at Pune, Surat and Ahmedabad and regional offices in Delhi and Mumbai
Engineering headcount
200+ engineers across Kolkata, Hyderabad and Bangalore engineering centres
Founded 1997Headquarters Kolkata, India

How the price took the results

close before → close after

Q1 FY27
−2.3%
14 Aug
Q4 FY26
−3.0%
1 Jun
Q3 FY26
−1.6%
16 Feb
Q2 FY26
−1.2%
18 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

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