TITAGARH RAIL SYSTEMS LIMITED — PPTs, 16-02-2026: Investor Presentation

Titagarh Rail Systems (TRSL) reported Q3 FY26 revenue of Rs. 822.72 Cr, up 4.36% quarter-on-quarter, with profit after tax (PAT) rising 17.83% to Rs. 55.72 Cr. EPS stood at Rs. 4.13. The Passenger Rail Systems (PRS) segment is a standout, with revenue surging 237% year-on-year and segment profit up 364%, signaling TRSL's strategic shift towards passenger rolling stock.

Growth strategies include aligning with India's rail modernization efforts, focusing on "Make in India" initiatives, and expanding production capacity for robust metro demand.

Recent developments include transferring its shipbuilding business to a subsidiary for sharpened focus, gaining approval as a Wagon Leasing Company, and partnering with ABB for driverless metro Train Control and Management System (TCMS) and traction motor manufacturing. TRSL also developed a propulsion system for EMU trains and launched its first indigenous stainless steel driverless train for Ahmedabad.

TRSL's total order book (including JV share) is substantial at ~Rs. 27,755 Cr. Management anticipates PRS to be a primary long-term growth catalyst, driven by government rail infrastructure spending and pipeline metro projects like the Mumbai Railway Vikas Corporation's tender for 2,856 Vande Metro cars. The rail wheel JV project is on track for a trial run by March 2026.