TITAGARH RAIL SYSTEMS LIMITED — Important, 14-02-2025: General Updates

Titagarh Rail Systems Limited has executed an amendment to its Joint Venture Agreement with Titagarh Firema S.p.A, leading to Titagarh Firema Engineering Services Private Limited becoming a subsidiary of the Company. This transition followed the allotment of 20,00,000 equity shares via a Rights Issue, increasing Titagarh Rail's shareholding in the subsidiary from 49% to 66%. Financially, the total income for Titagarh Firema Engineering for the last fiscal year was ₹4.65 crore. The acquisition allows the Company to enhance its operational strength in research, engineering, and design services for transit systems, thereby positioning it for potential growth. Investors should monitor this development as it solidifies Titagarh Rail's market presence and control over strategic operations.