Titagarh Rail Systems share price
NSE: TITAGARHBSE: 532966Industrial ManufacturingSmall Cap
Share price at the NSE close on 28 Oct 2026. Previous close ₹652.90.
28 Oct: open ₹652.80, high ₹711.00, low ₹647.55
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹9,326 Cr545th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- Earlier quarters restated in the year
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 3.80
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 0.14%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 10.5%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026.
- 0.21
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 40,10,48022.4% delivered
About Titagarh Rail Systems
Titagarh Rail Systems Limited makes rolling stock: wagons, metro coaches and electrical equipment for trains. Its customers include Indian Railways, metro corporations, defence buyers and private freight operators. Its registered office is in Kolkata. It was incorporated in 1997.
The business is reported in two continuing segments. Freight Rail Systems covers wagons, steel castings, bridges and defence. Passenger Rail Systems covers metro coaches, electric multiple units, train electricals and traction motors. Shipbuilding and maritime systems was moved to a wholly owned subsidiary, Titagarh Naval Systems Limited, with effect from 1 January 2026. That subsidiary runs a shipyard at Falta.
Passenger coaches are built at Uttarpara in West Bengal, and wagons at Bharatpur, with a foundry unit for steel castings. An engineering and technology centre operates in Bengaluru. Customers outside India include national railway operators and private clients in Bangladesh, Africa, Myanmar, Australia and Europe.
The company took in Cimmco Limited through a scheme of amalgamation sanctioned by the National Company Law Tribunal, Kolkata, in 2020. It holds 49 per cent of Ramkrishna Titagarh Rail Wheels Limited, a joint venture with Ramkrishna Forgings Limited for forged wheels. Its Italian associate, Titagarh Firema, is under liquidation. Its executive chairman is J. P. Chowdhary, and Smt. Rashmi Chowdhary, a non-executive director, belongs to the promoter group. A promoter is the person or group that set up a company or controls it.
Written from the annual report for the year to Mar 2026, filed 8 Sep 2026 and the investor presentation.
Sources for 26 statements, each with its page
- The company is incorporated as Titagarh Rail Systems Limited; CIN year 1997. Annual report, page 1
- Registered office is in Kolkata. Annual report, page 1
- Customers include Indian Railways, metro corporations, defence. Annual report, page 42
- Private sector freight logistics customers. Annual report, page 42
- Two continuing reportable segments. Annual report, page 9
- Freight Rail Systems covers wagons, steel castings, bridges and defence. Annual report, page 9
- Freight segment includes bridges and defence. Annual report, page 9
- Passenger Rail Systems covers metro coaches, EMUs, train electricals, traction motors. Annual report, page 9
- PRS product list. Annual report, page 9
- Shipbuilding moved to wholly owned subsidiary Titagarh Naval Systems with effect from 1 January 2026. Annual report, page 9
- Effective date of transfer. Annual report, page 9
- Subsidiary has a shipyard at Falta. Annual report, page 7
- Passenger coaches at Uttarpara and wagons at Bharatpur. Annual report, page 42
- Uttarpara is in West Bengal. Annual report, page 9
- Foundry unit exists. Annual report, page 7
- Engineering and technology centre in Bengaluru. Annual report, page 9
- International customers in Bangladesh, Africa, Myanmar, Australia and Europe. Annual report, page 42
- Cimmco amalgamation with the company. Annual report, page 31
- Sanctioned by NCLT Kolkata, order dated 30 September 2020. Annual report, page 31
- Company holds 49 per cent of the joint venture. Investor presentation, page 20
- Joint venture with Ramkrishna Forgings, Ramkrishna Titagarh Rail Wheels. Investor presentation, page 6
- Joint venture is for forged wheels. Investor presentation, page 8
- Italian associate Titagarh Firema is under liquidation. Annual report, page 15
- J. P. Chowdhary is Executive Chairman. Annual report, page 3
- Rashmi Chowdhary is a non-executive director and promoter group member. Annual report, page 24
- Rashmi Chowdhary is Non-Executive Director. Annual report, page 3
Results
Consolidated; ₹ crore.Titagarh Rail Systems quarterly results
- Revenue growth, 12 monthsRevenue growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- −10.2%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- –
Quarter to Jun 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹765 Crdown 12.61%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹53 Crdown 1.72%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 6.9%
Revenue by quarter
Net profit by quarter, a loss in red
| ₹ crore | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,057 | 902 | 1,006 | 679 | 799 | 832 | 875 | 765 |
| Net profit | 81 | 63 | 64 | 31 | 37 | 48 | 54 | 53 |
| Net margin | 7.6% | 7.0% | 6.4% | 4.6% | 4.6% | 5.8% | 6.1% | 6.9% |
Year to Mar 2026, against the year before
- RevenueRevenue. The pill is the change in revenue against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹3,186 Crdown 17.63%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹123 Crdown 55.33%
- Net margin
- 3.9%
Revenue by year
Net profit by year, a loss in red
- Net profit
- Loss
The years either side of a change of basis do not compare. From the year to Mar 2018, GST replaced excise duty on 1 Jul 2017, and revenue before that day includes the duty. From the year to Mar 2020, the company reports a discontinued business.
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,739what Revenue, Mar 2017, includes. This period's revenue includes excise duty of ₹26 crore, a tax on the goods the company makes that it collects and pays to the government. | 1,271what Revenue, Mar 2018, includes. This period's revenue includes excise duty of ₹3.25 crore, a tax on the goods the company makes that it collects and pays to the government. | 1,711 | 1,766 | 1,521 | 1,931 | 2,780 | 3,853 | 3,868 | 3,186 |
| Net profit | 27 | −147 | −23 | −36 | −19 | −1 | 126 | 286 | 275 | 123 |
| Net margin | 1.6% | −11.6% | −1.3% | – | −1.2% | 0.0% | 4.5% | 7.4% | 7.1% | 3.9% |
Business segments
Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit
- Freight Rail SystemsFreight Rail Systems, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹2,604 Crdown 27.87%81.7%
- Passenger Rail SystemPassenger Rail System, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹539 Crup 109.46%16.9%
- ShipbuildingShipbuilding, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹42 Cr1.3%
Valuation
Today, against the company's own history. Not shown, P/E: a results filing in the last twelve months restated the quarters before it inside its year to date, so the four quarters as the company reported them do not add to a twelve-month profit; the ratio returns once the trailing year no longer holds a quarter from before the restatement. Its history crosses a change of basis in the accounts in the years to Mar 2018 and Mar 2020: days before it are of the company before the change.Titagarh Rail Systems PE ratio and valuation
At or below today's level on 37% of 1,062 trading days over the last 5 years.
At or below today's level on 64% of 2,416 trading days over the last 10 years.
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | −27.6% | −55.3% | +61.6% | 0.2% |
| 3 years | +30.0% | −5.7% | +37.8% | 0.1% |
| 5 years | +66.9% | – | – | 0.1% |
Mutual fund holdings
88 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 47 of the 57 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future.All 88 funds holding Titagarh Rail Systems
- AddedAdded. Funds that held more shares than at the end of the month before.
- 25
- CutCut. Funds that held fewer shares than at the end of the month before.
- 32
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 31
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end. Sold out in the glossary
- 1
| Fund | |||
|---|---|---|---|
 HDFC Balanced Advantage FundHDFC Mutual Fund | 42,00,000 | 0.34% | ₹343.6 Cr |
 HSBC Small Cap FundHSBC Mutual Fund | 16,30,400 | 0.72% | ₹133.4 Cr |
 Mirae Asset Large Cap FundMirae Asset Mutual Fund | 13,16,745 | 0.30% | ₹107.7 Cr |
 Axis Small Cap FundAxis Mutual Fund | 9,49,120 | 0.25% | ₹77.7 Cr |
 Aditya Birla Sun Life Midcap FundAditya Birla Sun Life Mutual Fund | 8,14,965 | 1.02% | ₹66.7 Cr |
| HSBC Large & Mid Cap FundHSBC Mutual Fund | 5,97,961 | 0.85% | ₹48.9 Cr |
| HSBC Multi Asset Allocation FundHSBC Mutual Fund | 5,91,682 | 1.54% | ₹48.4 Cr |
| HDFC Large & Mid Cap FundHDFC Mutual Fund | 5,74,942 | 0.16% | ₹47.0 Cr |
 Mahindra Manulife Small Cap FundMahindra Manulife Mutual Fund | 5,51,112 | 0.84% | ₹45.1 Cr |
| HSBC Infrastructure FundHSBC Mutual Fund | 4,58,200 | 1.58% | ₹37.5 Cr |
Promoter and insider buying and selling
Trades made since 29 Oct 2025.Titagarh Rail Systems insider trading
No promoter, director, key manager or employee bought or sold on the market.
- Promoters and promoter group: no market trade · 2 pledge filings of unclear kind
- Others: no market trade · 14 pledge filings of unclear kind · 2 off-market moves
Titagarh Rail Systems competitors and peers
Industrial Manufacturing, 200 listed companies, priced on 28 Oct 2026. The table lists the 8 companies closest to Titagarh Rail Systems in market cap.Capital goods stocks
Titagarh Rail Systems is not on the chart: it has no P/E or return on equity today
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
 Swan Defence and Heavy IndustriesSWANDEF | 13,969 | 39.97 | 6.18 | +641.7% | – | 27.9% | −11.0% | 0.00% |
 Tega IndustriesTEGA | 13,062 | 618.22 | 3.83 | +84.9% | −89.4% | 0.9% | 2.3% | 0.12% |
 Lloyds Engineering WorksLLOYDSENGG | 13,001 | – | 7.78 | – | – | – | 11.8% | 0.30% |
 Bonfiglioli TransmissionsBONFIG | 11,439 | – | – | – | – | – | – | 0.00% |
 Omnitech EngineeringOMNI | 8,895 | – | 13.09 | – | – | – | – | 0.00% |
 Dynamatic TechnologiesDYNAMATECH | 8,294 | 195.48 | 10.45 | +17.3% | 0.0% | 5.6% | 9.2% | 0.11% |
 Kennametal IndiaKENNAMET | 8,292 | 42.30 | 9.71 | +29.1% | +90.5% | 24.5% | 30.0% | 1.06% |
 Jupiter WagonsJWL | 7,738 | – | 2.60 | −11.7% | – | – | 7.6% | 0.00% |
Dividends
Per share, by the year it was paid for, and the latest payments.Titagarh Rail Systems dividend history
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossary| Ex-date | Type | Per share |
|---|---|---|
| 23 Sep 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹1.00 |
| 8 Sep 2025 | Final | ₹1.00 |
| 20 Aug 2024 | Final | ₹0.80 |
| 22 Sep 2023 | Final | ₹0.50 |
| 11 Sep 2019 | Final | ₹0.30 |
| 19 Sep 2018 | Final | ₹0.30 |
Latest announcements
Routine notices left out.Titagarh Rail Systems announcements
Oct 2026
28 Oct · Business
23 Oct · Board meeting
Not held on this date
Sep 2026
30 Sep · Meeting
15 Sep · Arrangements for strategic, technical, manufacturing, or marketing tie up
Titagarh Rail Systems share price by year
Each calendar year to 2025.Titagarh Rail Systems share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 891.95 | −19.3% | 1,120.85 | 675.15 |
| 2024 | 1,104.80 | +5.9% | 1,859.85 | 823.85 |
| 2023 | 1,043.50 | +366.7% | 1,065.80 | 196.70 |
| 2022 | 223.60 | +140.8% | 223.60 | 77.05 |
| 2021 | 92.85 | +59.5% | 108.25 | 44.55 |
| 2020 | 58.20 | +18.5% | 59.85 | 21.65 |
| 2019 | 49.10 | −39.7% | 81.95 | 32.55 |
| 2018 | 81.45 | −51.1% | 177.45 | 62.45 |
| 2017 | 166.50 | +35.1% | 184.65 | 99.45 |
| 2016 | 123.25 | −24.6% | 164.25 | 84.35 |
Recent sessions
The 9 trading days to 27 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 27 Oct 2026 | 655.00 | 672.00 | 648.80 | 652.90 | 659.85 | 6,80,666 | 42.2% |
| 26 Oct 2026 | 662.35 | 667.65 | 646.30 | 649.55 | 652.58 | 6,07,495 | 42.4% |
| 23 Oct 2026 | 693.40 | 705.60 | 660.00 | 663.35 | 677.01 | 11,39,440 | 42.6% |
| 22 Oct 2026 | 710.50 | 711.00 | 687.50 | 694.30 | 697.05 | 6,40,030 | 44.5% |
| 21 Oct 2026 | 745.00 | 745.10 | 705.30 | 709.55 | 718.90 | 3,50,414 | 40.0% |
| 19 Oct 2026 | 749.15 | 755.85 | 739.00 | 740.85 | 746.41 | 1,46,388 | 38.3% |
| 16 Oct 2026 | 747.00 | 760.60 | 735.65 | 749.15 | 744.94 | 5,00,053 | 35.5% |
| 15 Oct 2026 | 761.05 | 762.60 | 743.10 | 748.50 | 752.50 | 2,64,325 | 36.2% |
| 14 Oct 2026 | 764.75 | 769.80 | 757.50 | 761.05 | 762.30 | 2,66,145 | 28.8% |
Price adjustments
What the price chart is corrected for, so it reads as one share held throughout.Stock split history
| Ex-date | Event | Price factor | What happened |
|---|---|---|---|
| 23 Apr 2015 | Split | 0.2000 | Each share became 5. |
Company details
- NSE symbol
- TITAGARH
- BSE code
- 532966
- ISIN
- INE615H01020
- Industry
- Industrial Manufacturing
- Former symbols
- TWL
- Website
- www.titagarh.in
- CIN
- L27320WB1997PLC084819
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 1997
- Registered office
- Poddar Point, 10th Floor, 113 Park Street, Kolkata 700016, West Bengal
- Share registrar
- Maheshwari Datamatics Pvt Ltd
- Keeps the register of shareholders and handles transfers and dividend payments