Titagarh Rail Systems shareholders and shareholding pattern

NSE: TITAGARHBSE: 532966Industrial ManufacturingSmall Cap

TITAGARH RAIL SYSTEMS LIMITED · Formerly Titagarh Wagons · Face value ₹2 · Listed Apr 2008

₹654.15₹10.65 (1.60%)BSE ₹653.60

Share price at the NSE close on 30 Oct 2026. Previous close ₹664.80.

30 Oct: open ₹660.00, high ₹661.40, low ₹637.50

52-week range of traded prices to 30 Oct 2026

₹568.70Low, 30 Mar 2026₹971.00High, 18 Jun 2026

Market cap: ₹8,810 Cr545th largest listed
P/E: Earlier quarters restated in the year
P/B: 3.59
Dividend yield: 0.15%
ROCE: 10.5%
Debt to equity: 0.21
Volume, NSE: 10,84,46635.2% delivered

Titagarh Rail Systems' shareholding pattern for Sep 2026, filed on 13 Oct 2026, with every filing from Dec 2016: who owns its shares by group, its promoters by name and its public holders of 1% or more.

Who owns Titagarh Rail Systems, filing by filing

Per cent of the company's shares.

Sep 2026 filing

Promoters40.46%
Foreign institutions11.38%
Indian institutions15.95%
Governments0.01%
Individuals and others32.20%

Shareholding pattern, per cent, from Sep 2022

Promoters
Foreign institutions
Indian institutions
Governments
Individuals and others

Per cent	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	45.92%	45.79%	45.77%	45.77%	45.77%	45.75%	45.74%	45.74%	45.74%	45.74%	45.71%	45.71%	45.70%	45.70%	45.70%	45.70%	44.29%	44.27%	45.23%	45.77%	47.00%	47.05%	47.26%	47.26%	47.82%	47.83%	47.82%	44.97%	42.46%	42.46%	40.46%	40.46%	40.46%	40.46%	40.46%	40.46%	40.46%	40.46%	40.46%	40.46%
Indian promoters	45.92%	45.79%	45.77%	45.77%	45.77%	45.75%	45.74%	45.74%	45.74%	45.74%	45.71%	45.71%	45.70%	45.70%	45.70%	45.70%	44.29%	44.27%	45.23%	45.77%	47.00%	47.05%	47.26%	47.26%	47.82%	47.83%	47.82%	44.97%	42.46%	42.46%	40.46%	40.46%	40.46%	40.46%	40.46%	40.46%	40.46%	40.46%	40.46%	40.46%
	54.08%	54.21%	54.23%	54.23%	54.23%	54.25%	54.26%	54.26%	54.26%	54.26%	54.29%	54.29%	54.30%	54.30%	54.30%	54.30%	55.71%	55.73%	54.77%	54.23%	53.00%	52.95%	52.74%	52.74%	52.16%	52.17%	52.18%	55.03%	57.54%	57.54%	59.54%	59.54%	59.54%	59.54%	59.54%	59.54%	59.54%	59.54%	59.54%	59.54%
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	4.82%	5.27%	6.07%	7.05%	16.84%	20.04%	17.27%	19.56%	16.33%	13.67%	11.63%	9.49%	9.56%	10.66%	10.67%	10.87%	11.38%
Foreign portfolio investors, category I	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	4.82%	5.27%	6.00%	6.81%	16.41%	19.54%	16.95%	19.11%	16.05%	13.18%	11.20%	8.98%	8.99%	10.05%	10.10%	10.35%	10.20%
Foreign portfolio investors, category II	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.00%	0.00%	0.07%	0.24%	0.44%	0.50%	0.32%	0.45%	0.27%	0.49%	0.43%	0.51%	0.57%	0.61%	0.57%	0.52%	1.19%
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	7.00%	6.78%	6.60%	9.68%	10.46%	12.27%	13.72%	14.12%	13.94%	15.00%	13.41%	11.68%	12.78%	12.59%	12.45%	15.39%	15.95%
Mutual funds	15.23%	14.79%	14.17%	12.91%	12.32%	9.55%	9.30%	9.30%	9.30%	9.30%	9.29%	9.02%	9.02%	9.02%	9.02%	9.02%	8.74%	8.73%	8.73%	8.93%	8.17%	7.44%	7.07%	6.82%	6.60%	6.44%	8.28%	8.43%	10.35%	10.83%	11.44%	10.30%	10.94%	9.19%	9.34%	9.90%	9.66%	9.33%	12.31%	12.98%
Insurance companies	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.37%	0.40%	0.40%	0.40%	0.40%	0.37%	0.30%	0.30%	0.18%	0.18%	0.02%	1.09%	1.80%	1.79%	2.82%	1.80%	2.17%	3.38%	3.60%	2.14%	2.78%	2.91%	3.09%	3.01%	2.93%
Banks	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	0.01%	Under 0.01%	0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%
Alternative investment funds	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.15%	0.31%	0.22%	0.13%	0.07%	0.88%	1.47%	0.68%	0.61%	0.19%	0.09%	0.03%	0.04%	0.06%	0.04%
Non-bank lenders registered with RBI	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.00%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%
Other financial institutions	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.00%	0.00%	0.00%	0.00%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Central government	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.00%	0.00%	0.00%	0.00%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Government-promoted companies	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.01%	0.01%	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	–	–	–	–	–	–
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	40.92%	40.10%	39.49%	35.44%	27.72%	25.21%	26.54%	25.84%	29.26%	30.87%	34.50%	38.36%	37.19%	36.28%	36.41%	33.27%	32.20%
Resident individuals, up to ₹2 lakh at face value	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	22.93%	23.59%	23.17%	22.49%	21.40%	20.07%	21.65%	21.16%	24.63%	26.46%	29.70%	32.69%	31.95%	31.29%	31.71%	28.71%	27.77%
Resident individuals, over ₹2 lakh at face value	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	5.23%	4.40%	5.07%	3.95%	1.88%	1.07%	0.84%	0.55%	0.60%	0.48%	0.38%	0.16%	0.09%	0.09%	0.09%	0.09%	0.09%
Companies	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	9.45%	8.68%	8.50%	6.46%	2.22%	2.03%	2.04%	1.90%	1.64%	1.62%	1.79%	2.02%	2.10%	2.07%	1.98%	1.90%	1.81%
Non-resident Indians	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.76%	0.87%	0.89%	0.94%	0.94%	0.92%	0.93%	0.98%	0.98%	0.98%	1.05%	1.30%	1.34%	1.09%	1.07%	1.07%	1.06%
Foreign nationals	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.00%	0.00%	0.00%	0.00%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%
Foreign companies	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%
Investor education fund	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.05%	0.05%	0.05%	0.06%	0.06%	0.05%	0.05%	0.05%	0.05%	0.06%	0.06%	0.06%	0.06%	0.06%	0.07%	0.07%	0.07%
Directors and their relatives	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.14%	0.14%	0.17%	0.17%	0.16%	0.15%	0.09%	0.09%	0.09%	0.09%	0.09%	0.09%	0.09%	0.09%	0.09%	–	–
Key managers	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.00%	0.00%	0.04%	0.04%	0.04%	0.03%	0.03%	0.03%	0.03%	0.03%	0.06%	0.06%	0.06%	0.06%	0.06%	–	–
Relatives of promoters	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.11%	0.09%	0.03%	0.03%	0.03%	0.03%	0.02%	0.02%	0.02%	0.02%	0.00%	–	–	–	–	–	–
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	2.17%	2.21%	1.49%	1.22%	0.93%	0.80%	0.81%	0.98%	1.14%	1.05%	1.29%	1.90%	1.43%	1.46%	1.28%	1.37%	1.34%
Trusts	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	Under 0.01%	0.01%	Under 0.01%	Under 0.01%
Clearing Members	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.36%	0.34%	0.22%	0.13%	0.16%	0.20%	0.30%	0.23%	0.42%	0.96%	0.42%	0.49%	0.35%	0.46%	0.47%
Clearing member	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.46%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Other	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.74%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Trust	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.01%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Foreign Portfolio Investor (Category - III)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.01%	–	–	–	–	–	–	–	–	–	–	–	Under 0.01%	Under 0.01%	Under 0.01%
Hindu undivided families	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.09%	0.84%	0.67%	0.63%	0.60%	0.57%	0.66%	0.64%	0.69%	0.74%	0.79%	0.75%	0.76%	0.74%	0.71%
Others	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.04%	–	0.04%	0.03%	0.03%	–	–	–	–	–	–	–	–	–	–
Unclaimed or Suspense or Escrow Account	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.04%	–	–	–	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%
LLP	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.17%	0.14%	0.14%	0.14%	0.16%	0.17%	0.19%	0.13%	0.12%	0.12%
Promoter shares pledgedShare of the promoters' own shares	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.06%	0.06%	0.06%	0.06%	0.06%	0.06%	0.06%	0.06%	0.06%	0.06%	0.06%
Shares in issue	11,54,11,870	11,54,11,870	11,54,45,620	11,54,51,620	11,54,51,620	11,55,00,370	11,55,16,320	11,55,27,320	11,55,27,920	11,55,27,920	11,56,06,170	11,56,06,170	11,56,06,170	11,56,06,170	11,56,06,170	11,56,06,170	11,93,26,639	11,93,87,589	11,93,87,589	11,95,17,089	11,95,71,089	11,95,71,089	11,95,71,089	11,95,71,089	11,95,71,089	11,95,71,089	11,95,71,089	12,71,71,089	13,46,73,768	13,46,73,768	13,46,73,768	13,46,73,768	13,46,73,768	13,46,73,768	13,46,73,768	13,46,73,768	13,46,73,768	13,46,73,768	13,46,73,768	13,46,73,768
Shares locked in	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0	0	0	0	0	0	0	0	76,00,000	76,00,000	0	0	0	0	0	–	1,01,22,630	1,01,22,630	–	–	–
Promoters' shares locked in	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	–	1,01,22,630	1,01,22,630	–	–	–

Filings before Sep 2022 are on an older form, which did not split institutions into foreign and Indian and grouped some holders differently, so those columns show only the lines both forms state alike. Pledged is the share of the promoters' own shares given to lenders as security. A dash is a line the filing did not state. “Under 0.01%” is a holding of shares too small to show at two decimals.

Number of Titagarh Rail Systems shareholders

Shareholders on the company's register in each filing.

Shareholders, filing by filing

Shareholders	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
All shareholders	59,261	61,323	71,449	71,340	65,132	71,784	71,774	72,312	73,116	72,404	71,381	71,722	73,080	74,271	73,547	74,330	1,13,502	1,19,105	1,14,212	1,14,945	1,11,739	1,09,773	1,08,839	1,04,831	1,04,900	1,07,845	1,41,561	1,91,910	2,24,205	2,92,395	3,62,203	4,61,442	5,15,638	5,87,422	6,17,505	5,91,488	5,71,503	5,59,860	5,24,155	5,03,947
	11	9	8	8	8	8	8	8	8	8	8	8	8	8	8	7	8	8	10	10	10	10	10	10	9	9	9	9	9	8	8	8	8	8	8	8	8	8	8	8
Indian promoters	11	9	8	8	8	8	8	8	8	8	8	8	8	8	8	7	8	8	10	10	10	10	10	10	9	9	9	9	9	8	8	8	8	8	8	8	8	8	8	8
	59,250	61,314	71,441	71,332	65,124	71,776	71,766	72,304	73,108	72,396	71,373	71,714	73,072	74,263	73,539	74,323	1,13,494	1,19,097	1,14,202	1,14,935	1,11,729	1,09,763	1,08,829	1,04,821	1,04,891	1,07,836	1,41,552	1,91,901	2,24,196	2,92,387	3,62,195	4,61,434	5,15,630	5,87,414	6,17,497	5,91,480	5,71,495	5,59,852	5,24,147	5,03,939
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	38	38	45	54	132	150	149	192	174	155	131	122	120	124	122	123	129
Foreign portfolio investors, category I	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	38	38	44	52	124	143	142	181	163	143	121	113	109	113	111	114	117
Foreign portfolio investors, category II	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0	0	1	2	8	7	7	11	11	12	10	9	11	11	11	9	12
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	28	29	34	35	43	48	52	64	68	62	61	66	63	59	58	62	62
Mutual funds	13	13	13	12	13	9	3	3	3	3	3	3	3	3	3	3	4	4	4	4	4	4	4	4	4	5	5	10	13	18	24	21	21	20	23	25	22	25	27	28
Insurance companies	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	2	3	3	3	3	3	3	3	2	2	2	3	5	7	7	6	11	11	11	12	11	9	8	9	8
Banks	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	22	22	22	19	19	19	20	20	20	20	19	19	19	20	18	18	18
Alternative investment funds	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0	0	0	0	0	0	4	7	7	7	5	11	14	8	9	8	5	4	4	5	5
Non-bank lenders registered with RBI	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0	1	1	1	1	1	1	2	1	1	1	3	2	3	2	2	2
Other financial institutions	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0	0	0	0	1	1	1	1	1	1	1	1	1	1	1	1	1
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	3	3	3	3	3	3	3	3	3	4	4	4	4	4	4	4	5
Central government	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0	0	0	0	3	3	3	3	3	4	4	4	4	4	4	4	5
Government-promoted companies	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	3	3	3	3	0	0	0	0	0	0	0	–	–	–	–	–	–
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1,04,752	1,04,821	1,07,754	1,41,460	1,91,723	2,23,995	2,92,183	3,61,936	4,61,189	5,15,409	5,87,218	6,17,305	5,91,293	5,71,308	5,59,668	5,23,958	5,03,743
Resident individuals, up to ₹2 lakh at face value	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1,01,404	1,01,381	1,04,281	1,37,463	1,86,742	2,18,090	2,85,181	3,52,811	4,50,655	5,04,692	5,75,642	6,04,717	5,78,570	5,58,988	5,47,543	5,12,162	4,91,978
Resident individuals, over ₹2 lakh at face value	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	23	16	16	11	9	6	5	3	4	3	2	2	1	1	1	1	1
Companies	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	653	662	716	758	865	979	1,073	1,211	1,279	1,196	1,201	1,298	1,275	1,219	1,165	1,115	1,137
Non-resident Indians	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	893	989	1,074	1,510	2,107	2,632	3,323	4,897	5,585	5,503	5,954	6,370	6,563	6,284	6,195	6,176	6,199
Foreign nationals	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0	0	0	0	1	1	1	1	2	2	1	1	2	1	1	1	1
Foreign companies	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	7	7	7	7	7	7	7	7	7	7	7	8	8	8	8	8	8
Investor education fund	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Directors and their relatives	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	5	5	5	5	5	5	4	4	4	4	4	4	4	4	4	–	–
Key managers	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0	0	1	1	1	1	1	1	1	1	2	2	2	2	2	–	–
Relatives of promoters	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	3	3	2	2	2	2	1	1	1	1	0	–	–	–	–	–	–
	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1,763	1,757	1,651	1,702	1,983	2,271	2,586	2,999	3,650	3,999	4,404	4,902	4,867	4,800	4,748	4,494	4,418
Trusts	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	8	11	13	13	17	17	14	16	18	15	12	13	12	10
Clearing Members	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	81	67	61	64	54	60	62	66	61	74	67	59	50	45	44
Clearing member	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	102	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Other	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1,646	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Trust	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	9	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Foreign Portfolio Investor (Category - III)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	10	–	–	–	–	–	–	–	–	–	–	–	1	1	1
Hindu undivided families	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1,559	1,626	1,910	2,193	2,518	2,797	3,427	3,780	4,184	4,644	4,621	4,571	4,537	4,286	4,214
Others	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1	–	1	1	1	–	–	–	–	–	–	–	–	–	–
Unclaimed or Suspense or Escrow Account	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1	–	–	–	1	1	1	1	1	1	1	1	1	1
LLP	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	124	143	138	142	165	163	157	146	149	148

Titagarh Rail Systems promoters

Promoters are the founders, families and companies that control the company, as its filings name them. Every member of the promoter group holding shares in the filing for Sep 2026; the largest is Titagarh Capital Management Services Private Limited, 17.87%. The filing names 5 more members with no shares.Promoter buying and selling

Holder
Titagarh Capital Management Services Private LimitedIndian companies, trusts and others	17.87%	2,40,71,588	0.00%
Jagdish Prasad Chowdhary(Trustee of Chowdhury foundation)Indian companies, trusts and others	13.52%	1,82,01,875	0.00%
RASHMI CHOWDHARYIndividuals and Hindu undivided families	7.52%	1,01,22,630	0.00%
Titagarh Logistics Infrastructures Private LimitedIndian companies, trusts and others	1.42%	19,08,487	0.00%
UMESH CHOWDHARYIndividuals and Hindu undivided families	0.06%	77,530	0.00%
JAGDISH PRASAD CHOWDHARYIndividuals and Hindu undivided families	0.05%	70,700	0.00%
VINITA BAJORIAIndividuals and Hindu undivided families	0.02%	32,051	98.28%
BIMLA DEVI KAJARIAIndividuals and Hindu undivided families	0.00%	2,000	0.00%

Pledged is the share of the holder's own shares pledged to a lender.

Largest public holders of Titagarh Rail Systems, filing by filing

Per cent, on the same shares as the split above.Mutual funds holding Titagarh Rail Systems

Holder	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
THE MASTER TRUST BANK OF JAPAN, LTD. AS TRUSTEE OF HSBC INDIA INFRASTRUCTURE EQUForeign portfolio investors, category I	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.11%	1.11%	1.19%	1.19%	1.19%	1.19%	1.19%	1.19%	1.19%	1.08%	1.08%
GOLDMAN SACHS FUNDS - GOLDMAN SACHS INDIA EQUITY PORTFOLIOForeign portfolio investors, category I	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.06%
ICICI PRUDENTIAL LIFE INSURANCE COMPANY LIMITEDInsurance companies	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.15%	1.25%	1.89%	–	1.01%	1.30%	1.19%	–	–	–	–	–	–
SMALLCAP WORLD FUND INC.Foreign portfolio investors, category I	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	5.98%	6.12%	5.61%	2.74%	1.25%	–	–	–	–	–	–	–	–
MORGAN STANLEY ASIA (SINGAPORE) PTE. - ODIForeign portfolio investors, category I	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.13%	–	–	–	–	–	–	–	–	–	–	–	–
DOVETAIL INDIA FUND CLASS 11 SHARESForeign portfolio investors, category I	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.12%	1.12%	1.09%	1.09%	1.60%	1.60%	1.36%	1.36%	1.36%	1.36%	1.36%	1.53%	1.53%	–	–	–	–	–	–	–	–	–	–	–	–	–
AKASH BHANSHALIResident individuals, over ₹2 lakh at face value	–	1.24%	1.24%	1.24%	1.24%	1.24%	1.24%	1.24%	1.24%	1.24%	1.24%	1.24%	1.24%	1.24%	1.24%	1.24%	1.20%	1.20%	1.20%	1.20%	1.20%	1.20%	1.20%	1.20%	1.20%	–	1.08%	–	–	–	–	–	–	–	–	–	–	–	–	–
MAHIMA STOCKS PRIVATE LIMITEDCompanies	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.13%	1.65%	1.06%	–	–	–	–	–	–	–	–	–	–	–	–	–
Max Life Insurance Company Limited A/c - ULIF00225/06/04LIFEBALANC104 - BalanceInsurance companies	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.04%	–	–	–	–	–	–	–	–	–	–	–	–	–
AQUARIUS INDIA OPPORTUNITIES FUNDForeign portfolio investors, category I	–	–	–	–	–	–	–	–	–	–	–	–	–	1.68%	1.68%	1.68%	1.63%	1.63%	1.63%	1.63%	1.63%	1.63%	1.63%	1.63%	1.63%	1.54%	–	–	–	–	–	–	–	–	–	–	–	–	–	–
BLUE DIAMOND PROPERTIES PVT LTD.Companies	–	–	–	–	–	–	–	–	–	–	–	–	–	1.10%	–	1.10%	–	–	1.06%	1.06%	1.06%	1.06%	1.06%	1.06%	1.01%	1.01%	–	–	–	–	–	–	–	–	–	–	–	–	–	–
A E SECURITIES AND INVESTMENTS PVT LTDCompanies	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.00%	1.00%	1.00%	1.20%	1.03%	1.03%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
POLUS GLOBAL FUNDInstitutions Foreign Portfolio Investor	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.06%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
POLUNIN EMERGING MARKETS SMALL CSP FUND, LLCInstitutions Foreign Portfolio Investor	–	–	–	–	–	–	–	–	–	–	–	1.51%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
POLUNIN EMERGING MARKETS SMALL CAP FUND, LLCInstitutions Foreign Portfolio Investor	1.38%	1.38%	1.44%	1.44%	1.44%	1.44%	1.44%	1.44%	1.44%	1.50%	1.51%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
GE CAPITAL INTERNATIONAL (MAURITIUS)Other Institutions	4.61%	4.61%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
AKASH BHANSALIResident individuals, over ₹2 lakh at face value	1.24%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–

A filing names every holder above one per cent, in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here: each fund's holding is on the Mutual funds tab, from its own portfolio. A dash is a filing that did not name the holder, which includes holding under one per cent.

Who moved in the Sep 2026 filing

Against the Jun 2026 filing. A filing names a public holder only at 1% or more, so a holder no longer named fell under 1% or sold out.

Foreign institutions: GOLDMAN SACHS FUNDS - GOLDMAN SACHS INDIA EQUITY PORTFOLIO newly named at 1.06%