Titagarh Rail Systems Ltd (TITAGARH) — shareholding pattern, promoter holding, financials and share price
About Titagarh Rail Systems Ltd (TITAGARH)
Titagarh Rail Systems Ltd operates in the Railway Wagons industry, within the Capital Goods sector. It trades on the NSE as TITAGARH and on the BSE under scrip code 532966. Its ISIN is INE615H01020.
Titagarh Rail Systems Ltd (Formerly Titagarh Wagons Limited), incorporated in 1997, is mainly engaged in the manufacturing and selling of Freight Wagons, Passenger Coaches, Metro Trains, Train Electricals, Steel Castings, Specialised Equipments & Bridges, Ships, etc. The company caters to both domestic and export markets. [1]
Titagarh Rail Systems Limited is an integrated rail rolling stock and heavy engineering manufacturer that designs and produces freight wagons, passenger coaches, metro trains, propulsion systems, traction motors, forged wheels (via JV), steel castings and shipbuilding services, operating multiple manufacturing facilities and engineering centres across India and through strategic international linkages.
The company reported Q3 FY26 standalone revenue from operations of ₹822.72 crore and PAT of ₹55.72 crore, while maintaining net‑debt negative status; a strong consolidated orderbook (~₹27,755 crore including JVs) gives multi‑year visibility, with Passenger Rail Systems contributing ~77% of the TRSL standalone order book and driving recent margin and revenue improvement.
Listed peers in Railway Wagons: Lloyds Engineering Works Ltd, Tega Industries Ltd, Swan Defence and Heavy Industries Ltd, Jupiter Wagons Ltd, Dynamatic Technologies Ltd, Praj Industries Ltd.
Valuation & Returns
10 Jul 2026At ₹836 a share on 10 Jul 2026, Titagarh Rail Systems Ltd (TITAGARH) was valued at a price-to-earnings ratio of 66.89x against an industry P/E of 48.01x and a price-to-book of 4.53x on a book value of ₹184.37 per share as of Mar 2025. Solomo computes return on equity of 6.78% and return on capital employed of 10.03% from filed results. Earnings ratios use consolidated results for the twelve months Jun 2025 to Mar 2026.
- P/E
- 66.89x
- Industry P/E
- 48.01x
- P/B
- 4.53x
- EPS (TTM)
- ₹12.5
- Book value / share
- ₹184.37
- ROE
- 6.78%
- ROCE
- 10.03%
- ROA
- 4.47%
- Debt / equity
- 0.25x
- Dividend yield
- 0.12%
- EBITDA margin
- 11.29%
- 52-week range
- ₹568.65 – ₹970.05
Ratios are computed from filed results and the last recorded price. Not investment advice.
Financial Performance
Mar 2026In the year ended Mar 2026, Titagarh Rail Systems Ltd (TITAGARH) reported revenue of ₹3,186 crore, net profit of ₹123 crore and earnings per share of ₹9.13. That compares with revenue of ₹3,868 crore and net profit of ₹275 crore in Mar 2025. Figures are consolidated, as filed with the exchanges.
In the quarter ended Mar 2026, revenue was ₹875 crore and net profit ₹54 crore (consolidated).
| Metric | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue (₹ cr) | 1,468 | 2,780 | 3,853 | 3,868 | 3,186 |
| Net profit (₹ cr) | -1 | 126 | 286 | 275 | 123 |
| EPS (₹) | -0.03 | 10.89 | 21.25 | 20.52 | 9.13 |
| Measure | 10Y | 5Y | 3Y | 1Y |
|---|---|---|---|---|
| Sales growth | 31.63% | 21.10% | 37.24% | 0.38% |
| Profit growth | - | - | 108.48% | -3.92% |
| Stock price CAGR | 25% | 64% | 17% | -8% |
Ownership Summary
Jun 2026As of Jun 2026, promoters hold 40.46% of Titagarh Rail Systems Ltd (TITAGARH) (unchanged from the previous quarter), foreign institutional investors (FII) hold 10.87% and domestic institutional investors (DII) hold 15.39%. Promoters have pledged 0.1% of their holding. Market capitalisation was ₹11,259 crore on 10 Jul 2026. Shareholding is filed quarterly with BSE and NSE; Solomo carries every filing back to Sep 2010.
Largest disclosed public shareholders in Jun 2026: HDFC LARGE AND MID CAP FUND 3.84%, HSBC MUTUAL FUND - HSBC AGGRESSIVE HYBRID FUND 2.77%, MIRAE ASSET INFRASTRUCTURE FUND 1.31%, THE MASTER TRUST BANK OF JAPAN, LTD. AS TRUSTEE OF HSBC INDIA INFRASTRUCTURE EQU 1.08%. Only stakes above the 1% disclosure threshold are named in filings.
| Quarter | Promoter | Pledged | FII | DII | Public |
|---|---|---|---|---|---|
| Jun 2026 | 40.46% | 0.1% | 10.87% | 15.39% | 59.54% |
| Mar 2026 | 40.46% | 0.1% | 10.67% | 12.45% | 59.54% |
| Dec 2025 | 40.46% | 0.1% | 10.66% | 12.59% | 59.54% |
| Sep 2025 | 40.46% | 0.1% | 9.56% | 12.78% | 59.54% |
| Jun 2025 | 40.46% | 0.1% | 9.49% | 11.68% | 59.54% |
| Mar 2025 | 40.46% | 0.1% | 11.63% | 13.41% | 59.54% |
| Dec 2024 | 40.46% | 0.1% | 13.67% | 15% | 59.54% |
| Sep 2024 | 40.46% | 0.1% | 16.33% | 13.94% | 59.54% |