Titagarh Rail Systems Limited

BSE: 532966 NSE: TWL
Titagarh Rail Systems Limited - transport and logistics in Kolkata, West Bengal, India. FY 2026 financials and compliance.
CIN L27320WB1997PLC084819 Incorporated 03 July 1997 ROC Kolkata HQ Kolkata, West Bengal, India
Active Listed - NSE: TWL · BSE: 532966 Public Limited Company transport and logistics
Data last updated
Revenue · FY 2026
₹3,185.82 Cr
▼ 17.63% YoY
EBITDA · FY 2026
₹396.45 Cr
▼ 22.02% YoY
Net profit · FY 2026
₹122.82 Cr
▼ 55.33% YoY
Authorised capital
₹385.1 Cr
Registered with MCA
Paid-up capital
₹26.93 Cr
Issued & subscribed
Open charges
₹6,703.93 Cr
Satisfied ₹7,305.2 Cr
Company age
29 yrs
Est. 1997
Employees · EPFO
796
Latest available

About Titagarh Rail Systems Limited

Data last updated: 13 March 2026

Titagarh Rail Systems Limited is a public limited company based in Kolkata, West Bengal, India. It specialises in railway equipment and supply, a part of the broader transport and logistics sector. Incorporated on 03 July 1997, the company has been in operation for over 29 years.

Registered with ROC Kolkata under CIN L27320WB1997PLC084819. Listed on BSE: 532966 and NSE: TWL.

Capital: an authorised share capital of ₹385.1 Cr and a paid-up capital of ₹26.93 Cr. It is led by directors including Rashmi Chowdhary and Prithish Chowdhary.

Last AGM: 15 September 2025. Financial statements filed for year ended 31 March 2025. Office: Poddar Point 10Th Floor 113 Park Street Kolkata – 700016, West Bengal, India – 700016.

As per the financials filed for FY 2025, the company reported a revenue of ₹3,943.1 Cr, a growth of 1% compared to the previous year.

The company has a workforce of approximately 796 employees as per the latest available data. Its group structure includes 1 subsidiary and 1 joint venture.

The company is associated with 1 brand - Titagarh Rail Systems. As per MCA filings, the company has open charges of ₹6,703.93 Cr and satisfied charges of ₹7,305.2 Cr on record.

The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website titagarh.in.

Company Details of Titagarh Rail Systems Limited
CIN L27320WB1997PLC084819
Registration Number 084819
Incorporation Date 03 July 1997
ROC Kolkata
Listing Status Listed (BSE: 532966, NSE: TWL)
Company Status Active
Date of Last AGM 15 September 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant
Key People
Jagdish Prasad Chowdhary Managing Director Umesh Chowdhary Managing Director Prithish Chowdhary Whole-Time Director
Contact Details
  • Email
    *****@*****.com
  • Telephone
    +91-****-******
  • Website
    titagarh.in
  • Social Media
  • Registered Address
    Poddar Point 10Th Floor 113 Park Street Kolkata – 700016, West Bengal, India – 700016
  • Industry
    Transport and Logistics, Railway Equipment & Supply, Shipbuilding & Repair Services
Company report
Titagarh Rail Systems Limited - full intelligence report
  • Historical Financials and ratios
  • Shareholding pattern and group structure
  • Charges with holder and property details
  • Litigation, compliance and MCA filings
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Financials, compliance, directors, charges, ownership and filings for Titagarh Rail Systems Limited in one report.

10-year financials Directors & ownership Charges & compliance

CIN History of Titagarh Rail Systems Limited

Titagarh Rail Systems Limited has one previous CIN (Corporate Identification Number): U27320WB1997PLC084819. The current CIN is L27320WB1997PLC084819, which is the unique identifier assigned by the Registrar of Companies.

CIN Status
L27320WB1997PLC084819 Current
U27320WB1997PLC084819 Previous

Associated Brands with Titagarh Rail Systems Limited

Titagarh Rail Systems Limited operates one associated brand: Titagarh Rail Systems. These brands represent Titagarh Rail Systems Limited's diversified market presence and brand portfolio.

Brand Description Website
Titagarh Rail Systems
Freight wagons are manufactured by Titagarh in India. titagarh.in

Business Activity of Titagarh Rail Systems Limited

Titagarh Rail Systems Limited is engaged in the principal business activity of manufacturing, with detailed activities including motor vehicles, trailers, semi trailers and other transport vehicles, plastic products, non-metallic mineral products, rubber products, fabricated metal products. The company has 2 registered principal business activity segments, demonstrating its operational diversity and market reach.

Main Activity Group Code Description of Main Activity Business Activity Code Description of Business Activity Turnover Percentage
C Manufacturing C11 Motor vehicles, trailers, semi trailers and other Transport Vehicles *********
C Manufacturing C8 Plastic products, non-metallic mineral products, rubber products, fabricated metal products *********

Auditor Details of Titagarh Rail Systems Limited

Titagarh Rail Systems Limited is audited by Price waterhouse & Co Chartered Accountants LLP for the financial year 2022. The auditor plays a crucial role in ensuring financial transparency and compliance with accounting standards.

Name Status Appointment Date Cessation Date
Price waterhouse & Co Chartered Accountants LLP blur-value blur-value blur-value

Board of Directors of Titagarh Rail Systems Limited

Titagarh Rail Systems Limited is currently managed by 13 directors, with 39 former directors having served the organization. The current Directors play a crucial role in shaping the company's strategic direction and governance.

Current Directors
Name Designation Appointment Date Tenure Status
Rashmi Chowdhary
Also directs: Titagarh Rail Systems Limited
Director 14 Aug 2014 11 Years 10 Months Current
Prithish Chowdhary
Also directs: Titagarh Rail Systems Limited, Titagarh Capital Management Services Private Limited, Indian Chamber Of Commerce Calcutta and 4 more
Whole-Time Director 01 Jan 2021 5 Years 6 Months Current
Debanjan Mandal
Also directs: Titagarh Rail Systems Limited, Fox & Mandal Llp, Graphite India Limited and 5 more
Director 04 Sep 2023 2 Years 10 Months Current
Nayantara Palchoudhuri
Also directs: Titagarh Rail Systems Limited, Rossell India Limited, Jay Shree Tea And Industries Limited and 5 more
Director 22 Jun 2020 6 Years 0 Months Current
Bontha Prasada Rao
Also directs: Titagarh Rail Systems Limited, Havells India Limited, Power Mech Projects Limited and 2 more
Director 04 Sep 2023 2 Years 10 Months Current
Sushil Kumar Roongta
Also directs: Jk Paper Limited, Jubilant Pharmova Limited, Jubilant Ingrevia Limited and 5 more
Director 01 Jan 2021 5 Years 6 Months Current
Showing 6 of 13 current directors. View all directors

Financials of Titagarh Rail Systems Limited FY 2026 filings available

Titagarh Rail Systems Limited reported revenue of ₹3,185.82 Cr (down 17.63% YoY) for FY 2026. Profit growth despite declining revenue indicates effective cost management and margin discipline.

Revenue · FY 2026
₹3,185.82 Cr ▼ 17.63%
Profit · FY 2026
₹122.82 Cr ▼ 55.33%
EBITDA · FY 2026
₹396.45 Cr ▼ 22.02%
Revenue₹ Cr · Consolidated02,0004,000FY 2020: ₹1,766 Cr1,766FY 2020FY 2021: ₹1,521 Cr · -13.9% YoY1,521-13.9%FY 2021FY 2022: ₹1,931 Cr · +27% YoY1,931+27%FY 2022FY 2024: ₹3,853 Cr · +99.6% YoY3,853+99.6%FY 2024FY 2025: ₹3,868 Cr · +0.4% YoY3,868+0.4%FY 2025FY 2026: ₹3,186 Cr · -17.6% YoY3,186-17.6%FY 2026
Net Profit₹ Cr · Consolidated-1000100200300FY 2020: ₹36 Cr (loss)-36.1FY 2020FY 2021: ₹19 Cr (loss) · +48% YoY-18.8FY 2021FY 2022: ₹1 Cr (loss) · +96.4% YoY-0.7FY 2022FY 2024: ₹286 Cr · +41842% YoY286+41842%FY 2024FY 2025: ₹275 Cr · -3.9% YoY275-3.9%FY 2025FY 2026: ₹123 Cr · -55.3% YoY123-55.3%FY 2026
Quarterly Revenue₹ Cr · vs same quarter last year05001,0001,500Q1'25: ₹903 Cr · -0.8% YoY903-0.8%Q1'25Q2'25: ₹1,057 Cr · +13% YoY1,057+13%Q2'25Q3'25: ₹902 Cr · -5.5% YoY902-5.5%Q3'25Q4'25: ₹1,006 Cr · -4.5% YoY1,006-4.5%Q4'25Q1'26: ₹679 Cr · -24.8% YoY679-24.8%Q1'26Q2'26: ₹799 Cr · -24.4% YoY799-24.4%Q2'26Q3'26: ₹832 Cr · -7.8% YoY832-7.8%Q3'26Q4'26: ₹875 Cr · -12.9% YoY875-12.9%Q4'26
Metrics FY 2026 FY 2025 FY 2024 FY 2022 FY 2021 FY 2020
Revenue from Operations ₹3,185.82 Cr ₹3,867.75 Cr ₹3,853.3 Cr ₹1,930.79 Cr ₹1,520.64 Cr ₹1,766.32 Cr
Other Income ₹48.44 Cr ₹75.35 Cr ₹39.81 Cr ₹35.84 Cr ₹24.86 Cr ₹34.02 Cr
Total Income ₹3,234.26 Cr ₹3,943.1 Cr ₹3,893.11 Cr ₹1,966.63 Cr ₹1,545.5 Cr ₹1,800.35 Cr
Cost of Materials Consumed ₹2,348.91 Cr ₹2,964.91 Cr ₹2,951.7 Cr ₹1,226.25 Cr ₹1,045.66 Cr ₹1,192.3 Cr
Purchases of Stock-in-Trade ₹0 ₹0 ₹0 ₹0 ₹0 ₹0
Changes in Inventories -₹27.88 Cr -₹36.06 Cr ₹36.38 Cr -₹17.97 Cr -₹52.24 Cr -₹40.81 Cr
Employee Benefit Expense ₹110.31 Cr ₹86.89 Cr ₹66.29 Cr ₹223.51 Cr ₹210.57 Cr ₹151.77 Cr
Finance Costs ₹70.77 Cr ₹73.15 Cr ₹73.45 Cr ₹93.4 Cr ₹81.2 Cr ₹88.27 Cr
Depreciation & Amortisation ₹51.07 Cr ₹29.58 Cr ₹27.1 Cr ₹33.27 Cr ₹29.87 Cr ₹29.13 Cr
Other Expenses ₹406.47 Cr ₹418.97 Cr ₹347 Cr ₹366.08 Cr ₹236.01 Cr ₹342.12 Cr
Total Expenses ₹2,959.65 Cr ₹3,537.44 Cr ₹3,501.93 Cr ₹1,924.54 Cr ₹1,551.07 Cr ₹1,762.79 Cr
Profit Before Exceptional Items & Tax ₹274.61 Cr ₹405.66 Cr ₹391.18 Cr ₹42.09 Cr -₹5.57 Cr ₹37.56 Cr
Exceptional Items -₹64.79 Cr ₹0 -₹2.61 Cr -₹13.13 Cr ₹0 ₹0
Profit Before Tax ₹209.82 Cr ₹405.66 Cr ₹388.57 Cr ₹28.96 Cr -₹5.57 Cr ₹37.56 Cr
Total Tax Expense ₹71.12 Cr ₹106.68 Cr ₹100.14 Cr ₹29.64 Cr ₹13.21 Cr -₹20.51 Cr
Net Profit ₹122.82 Cr ₹274.92 Cr ₹286.14 Cr -₹68.55 Lakh -₹18.79 Cr -₹36.14 Cr
  attributable to Owners - - ₹286.14 Cr -₹32.84 Lakh -₹15 Cr ₹0
  attributable to NCI - - ₹0 -₹35.71 Lakh -₹3.79 Cr ₹0
Other Comprehensive Income ₹16 Lakh -₹1.32 Cr ₹32.07 Lakh ₹5.72 Cr ₹8.14 Cr ₹5.28 Cr
Total Comprehensive Income ₹122.98 Cr ₹273.6 Cr ₹286.46 Cr ₹5.04 Cr -₹10.64 Cr -₹30.86 Cr
EBITDA (computed) ₹396.45 Cr ₹508.39 Cr ₹491.74 Cr ₹168.76 Cr ₹105.5 Cr ₹154.96 Cr
Basic EPS ₹9.03 ₹20.42 ₹22.64 ₹-0.03 ₹-1.28 ₹5.18
Diluted EPS ₹9.02 ₹20.40 ₹22.64 ₹-0.03 ₹-1.28 ₹5.18
Metrics FY 2026 FY 2025 FY 2024
Total Assets ₹4,039.15 Cr ₹3,762.29 Cr ₹3,229.14 Cr
Non-current Assets ₹1,833.24 Cr ₹1,583.11 Cr ₹1,242.33 Cr
Current Assets ₹2,182.71 Cr ₹2,179.18 Cr ₹1,986.81 Cr
Property, Plant & Equipment ₹1,083.66 Cr ₹830.82 Cr ₹647.64 Cr
Inventories ₹588.16 Cr ₹523.33 Cr ₹523.72 Cr
Trade Receivables ₹629.75 Cr ₹670.85 Cr ₹532.52 Cr
Cash & Equivalents ₹161.86 Cr ₹25.27 Cr ₹328.98 Cr
Equity (Net Worth) ₹2,456.73 Cr ₹2,484.15 Cr ₹2,231.06 Cr
Equity Share Capital ₹26.93 Cr ₹26.93 Cr ₹26.93 Cr
Borrowings (Non-current) ₹169.95 Cr ₹24.93 Cr ₹37.36 Cr
Borrowings (Current) ₹351.91 Cr ₹504.41 Cr ₹28.9 Cr
Total Debt (computed) ₹521.86 Cr ₹529.34 Cr ₹66.26 Cr
Current Liabilities ₹1,204.58 Cr ₹1,097.61 Cr ₹730.04 Cr
Total Liabilities ₹1,582.42 Cr ₹1,278.14 Cr ₹998.08 Cr
The balance sheet became part of the exchange results-filing format in FY2023 - earlier years were not filed and are hidden.
Metrics FY 2026 FY 2025 FY 2024 FY 2022
Operating Cash Flow ₹322.43 Cr -₹97.41 Cr ₹85.79 Cr ₹54.59 Cr
Investing Cash Flow -₹133.44 Cr -₹578.8 Cr -₹536.86 Cr -₹69.48 Cr
Financing Cash Flow -₹51.68 Cr ₹372.35 Cr ₹724.39 Cr -₹52.71 Cr
Capital Expenditure -₹7.31 Cr ₹219.53 Cr ₹163.52 Cr ₹102.18 Cr
Free Cash Flow (computed) ₹315.12 Cr -₹316.94 Cr -₹77.73 Cr -₹47.59 Cr
Dividends Paid ₹48.98 Cr ₹10.77 Cr ₹6.38 Cr ₹2.73 Lakh
Net Change in Cash ₹136.59 Cr -₹303.71 Cr ₹273.58 Cr -₹70.74 Cr
The cash-flow statement became part of the exchange results-filing format in FY2022 - earlier years were not filed and are hidden.
Metrics Q4 FY26 Q3 FY26 Q2 FY26 Q1 FY26 Q4 FY25 Q3 FY25 Q2 FY25 Q1 FY25 Q4 FY24 Q3 FY24 Q2 FY24 Q1 FY24
Revenue from Operations ₹875.43 Cr ₹832.06 Cr ₹799.03 Cr ₹679.3 Cr ₹1,005.57 Cr ₹902.18 Cr ₹1,056.95 Cr ₹903.05 Cr ₹1,052.41 Cr ₹954.68 Cr ₹935.45 Cr ₹910.76 Cr
Other Income ₹11.57 Cr ₹10.78 Cr ₹14.44 Cr ₹11.65 Cr ₹29.86 Cr ₹22.48 Cr ₹10.72 Cr ₹12.29 Cr ₹14.67 Cr ₹14.47 Cr ₹6.77 Cr ₹3.89 Cr
Total Income ₹887 Cr ₹842.84 Cr ₹813.47 Cr ₹690.95 Cr ₹1,035.43 Cr ₹924.66 Cr ₹1,067.67 Cr ₹915.34 Cr ₹1,067.09 Cr ₹969.15 Cr ₹942.22 Cr ₹914.65 Cr
Cost of Materials Consumed ₹639.84 Cr ₹643.33 Cr ₹565.41 Cr ₹500.33 Cr ₹769.58 Cr ₹697.99 Cr ₹807.83 Cr ₹689.51 Cr ₹806.68 Cr ₹738.69 Cr ₹679.64 Cr ₹726.69 Cr
Purchases of Stock-in-Trade ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0
Changes in Inventories ₹1.53 Cr -₹35.62 Cr ₹24.57 Cr -₹18.36 Cr -₹23.75 Cr -₹10.61 Cr -₹8.95 Cr ₹7.25 Cr ₹79.79 Lakh ₹8.41 Cr ₹41.82 Cr -₹14.65 Cr
Employee Benefit Expense ₹27.84 Cr ₹30.61 Cr ₹25.54 Cr ₹26.32 Cr ₹28.02 Cr ₹21.8 Cr ₹19.78 Cr ₹17.29 Cr ₹18.14 Cr ₹15.07 Cr ₹17.28 Cr ₹15.8 Cr
Finance Costs ₹16.88 Cr ₹17.79 Cr ₹18.26 Cr ₹17.84 Cr ₹22.06 Cr ₹21.1 Cr ₹17.47 Cr ₹12.52 Cr ₹15.83 Cr ₹18.23 Cr ₹20.28 Cr ₹19.1 Cr
Depreciation & Amortisation ₹14.2 Cr ₹12.53 Cr ₹12.42 Cr ₹11.92 Cr ₹8.43 Cr ₹6.36 Cr ₹7.65 Cr ₹7.14 Cr ₹6.99 Cr ₹6.79 Cr ₹6.69 Cr ₹6.63 Cr
Other Expenses ₹108.99 Cr ₹101.7 Cr ₹99.88 Cr ₹95.91 Cr ₹130 Cr ₹92.92 Cr ₹108.88 Cr ₹87.17 Cr ₹106.72 Cr ₹81.84 Cr ₹81.63 Cr ₹76.81 Cr
Total Expenses ₹809.28 Cr ₹770.34 Cr ₹746.08 Cr ₹633.96 Cr ₹934.34 Cr ₹829.56 Cr ₹952.66 Cr ₹820.88 Cr ₹955.16 Cr ₹869.04 Cr ₹847.34 Cr ₹830.39 Cr
Profit Before Exceptional Items & Tax ₹77.72 Cr ₹72.5 Cr ₹67.39 Cr ₹56.99 Cr ₹101.09 Cr ₹95.1 Cr ₹115.01 Cr ₹94.46 Cr ₹111.93 Cr ₹100.11 Cr ₹94.89 Cr ₹84.26 Cr
Exceptional Items ₹1 Lakh ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 -₹2.21 Cr ₹0 ₹0 ₹0
Profit Before Tax ₹77.73 Cr ₹72.5 Cr ₹67.39 Cr ₹56.99 Cr ₹101.09 Cr ₹95.1 Cr ₹115.01 Cr ₹94.46 Cr ₹109.72 Cr ₹100.11 Cr ₹94.89 Cr ₹84.26 Cr
Total Tax Expense ₹21.17 Cr ₹16.91 Cr ₹20.27 Cr ₹14.47 Cr ₹27.48 Cr ₹26.16 Cr ₹29.89 Cr ₹23.15 Cr ₹28.58 Cr ₹25.09 Cr ₹23.99 Cr ₹22.48 Cr
Net Profit ₹53.5 Cr ₹48.15 Cr ₹37 Cr ₹30.94 Cr ₹64.45 Cr ₹62.77 Cr ₹80.69 Cr ₹67.01 Cr ₹78.95 Cr ₹74.82 Cr ₹70.59 Cr ₹61.78 Cr
  attributable to Owners - - - - - - - ₹0 ₹78.95 Cr ₹0 ₹70.03 Cr ₹61.78 Cr
  attributable to NCI - - - - - - - ₹0 ₹0 ₹0 - ₹0
Other Comprehensive Income -₹2.04 Cr ₹1.61 Cr ₹14 Lakh ₹45 Lakh -₹1.64 Cr ₹1.19 Cr -₹77 Lakh -₹9 Lakh -₹25.55 Lakh ₹2.12 Lakh -₹56.08 Lakh ₹1.12 Cr
Total Comprehensive Income ₹51.46 Cr ₹49.76 Cr ₹37.14 Cr ₹31.39 Cr ₹62.81 Cr ₹63.96 Cr ₹79.92 Cr ₹66.92 Cr ₹78.69 Cr ₹74.84 Cr ₹70.03 Cr ₹62.89 Cr
EBITDA (computed) ₹108.8 Cr ₹102.82 Cr ₹98.07 Cr ₹86.75 Cr ₹131.58 Cr ₹122.56 Cr ₹140.13 Cr ₹114.12 Cr ₹134.75 Cr ₹125.14 Cr ₹121.86 Cr ₹110 Cr
Basic EPS ₹3.83 ₹3.58 ₹2.73 ₹2.34 ₹4.81 ₹4.63 ₹6.01 ₹4.97 ₹6.37 ₹5.84 ₹5.56 ₹5.17
Diluted EPS ₹3.83 ₹3.58 ₹2.73 ₹2.34 ₹4.80 ₹4.63 ₹6.01 ₹4.97 ₹6.37 ₹5.84 ₹5.56 ₹5.17
Latest 12 quarters shown of 23 on record.
Segment · Q4 FY26 (latest quarter) Revenue Result (PBIT) Assets Liabilities
Freight Rail Systems ₹685.21 Cr ₹88.63 Cr ₹1,566.22 Cr ₹371.84 Cr
Passenger Rail Systems ₹173.33 Cr ₹32.85 Cr ₹1,363.69 Cr ₹408.62 Cr
Shipbuilding ₹16.89 Cr -₹5.82 Cr ₹160.85 Cr ₹75.24 Cr
Segment · FY 2026 (annual) Revenue Result (PBIT) Assets Liabilities
Freight Rail Systems ₹2,604.25 Cr ₹317.93 Cr - -
Passenger Rail Systems ₹539.33 Cr ₹77.03 Cr - -
Shipbuilding ₹42.24 Cr -₹20.64 Cr - -
Metrics FY 2026 FY 2025 FY 2024 FY 2022
Revenue from Operations ₹3,143.58 Cr ₹3,865.82 Cr ₹3,853.3 Cr ₹1,474.79 Cr
Other Income ₹47.17 Cr ₹75.25 Cr ₹45.67 Cr ₹22.88 Cr
Total Income ₹3,190.75 Cr ₹3,941.07 Cr ₹3,898.97 Cr ₹1,497.68 Cr
Cost of Materials Consumed ₹2,318.21 Cr ₹2,964.91 Cr ₹2,951.7 Cr ₹1,055.01 Cr
Purchases of Stock-in-Trade ₹0 ₹0 ₹0 ₹0
Changes in Inventories -₹27.88 Cr -₹36.06 Cr ₹36.38 Cr ₹10.32 Cr
Employee Benefit Expense ₹101.84 Cr ₹85.89 Cr ₹66.29 Cr ₹44.67 Cr
Finance Costs ₹70.37 Cr ₹73.14 Cr ₹73.45 Cr ₹55.82 Cr
Depreciation & Amortisation ₹50.22 Cr ₹29.5 Cr ₹27.1 Cr ₹18.38 Cr
Other Expenses ₹382.77 Cr ₹412.13 Cr ₹347 Cr ₹206 Cr
Total Expenses ₹2,895.53 Cr ₹3,529.51 Cr ₹3,501.93 Cr ₹1,390.2 Cr
Profit Before Exceptional Items & Tax ₹295.22 Cr ₹411.56 Cr ₹397.05 Cr ₹107.48 Cr
Exceptional Items -₹57.58 Cr ₹0 ₹0 ₹0
Profit Before Tax ₹237.64 Cr ₹411.56 Cr ₹397.05 Cr ₹107.48 Cr
Total Tax Expense ₹73.73 Cr ₹108.13 Cr ₹100.14 Cr ₹28.07 Cr
Net Profit ₹150.7 Cr ₹303.43 Cr ₹296.91 Cr ₹79.41 Cr
Other Comprehensive Income ₹1.02 Cr -₹1.47 Cr ₹6.14 Lakh ₹5.71 Cr
Total Comprehensive Income ₹151.72 Cr ₹301.96 Cr ₹296.97 Cr ₹85.11 Cr
EBITDA (computed) ₹415.81 Cr ₹514.2 Cr ₹497.6 Cr ₹181.68 Cr
Basic EPS ₹12.17 ₹22.53 ₹23.30 ₹6.65
Diluted EPS ₹12.16 ₹22.51 ₹23.30 ₹6.65
Metrics FY 2026 FY 2025 FY 2024
Total Assets ₹4,044.39 Cr ₹3,796.63 Cr ₹3,226.29 Cr
Non-current Assets ₹1,949.59 Cr ₹1,625.85 Cr ₹1,246.12 Cr
Current Assets ₹2,064.39 Cr ₹2,170.78 Cr ₹1,980.17 Cr
Property, Plant & Equipment ₹1,072.47 Cr ₹830.52 Cr ₹647.67 Cr
Inventories ₹563.33 Cr ₹523.33 Cr ₹523.72 Cr
Trade Receivables ₹620.93 Cr ₹671.09 Cr ₹532.52 Cr
Cash & Equivalents ₹151.78 Cr ₹17.36 Cr ₹326.88 Cr
Equity (Net Worth) ₹2,482.93 Cr ₹2,519.74 Cr ₹2,228.21 Cr
Equity Share Capital ₹26.93 Cr ₹26.93 Cr ₹26.93 Cr
Borrowings (Non-current) ₹169.95 Cr ₹24.93 Cr ₹37.36 Cr
Borrowings (Current) ₹351.91 Cr ₹504.41 Cr ₹28.9 Cr
Total Debt (computed) ₹521.86 Cr ₹529.34 Cr ₹66.26 Cr
Current Liabilities ₹1,194.55 Cr ₹1,096.74 Cr ₹730.04 Cr
Total Liabilities ₹1,561.46 Cr ₹1,276.89 Cr ₹998.08 Cr
The balance sheet became part of the exchange results-filing format in FY2023 - earlier years were not filed and are hidden.
Metrics FY 2026 FY 2025 FY 2024 FY 2022
Operating Cash Flow ₹311.28 Cr -₹101.19 Cr ₹92.78 Cr ₹27.15 Cr
Investing Cash Flow -₹125.88 Cr -₹580.86 Cr -₹531.07 Cr -₹55.26 Cr
Financing Cash Flow -₹50.98 Cr ₹371 Cr ₹724.39 Cr -₹17.51 Cr
Capital Expenditure ₹299.62 Cr ₹219.59 Cr ₹163.52 Cr ₹66.15 Cr
Free Cash Flow (computed) ₹11.66 Cr -₹320.78 Cr -₹70.75 Cr -₹39 Cr
Dividends Paid ₹13.45 Cr ₹10.77 Cr ₹6.38 Cr ₹2.73 Lakh
Net Change in Cash ₹134.42 Cr -₹311.05 Cr ₹286.09 Cr -₹45.61 Cr
Metrics Q4 FY26 Q3 FY26 Q2 FY26 Q1 FY26 Q4 FY25 Q3 FY25 Q2 FY25 Q1 FY25 Q4 FY24 Q3 FY24 Q2 FY24 Q1 FY24
Revenue from Operations ₹858.54 Cr ₹822.72 Cr ₹788.32 Cr ₹679.3 Cr ₹1,003.64 Cr ₹902.18 Cr ₹1,056.95 Cr ₹903.05 Cr ₹1,052.41 Cr ₹954.68 Cr ₹935.45 Cr ₹910.76 Cr
Other Income ₹10.37 Cr ₹10.71 Cr ₹14.45 Cr ₹11.64 Cr ₹29.76 Cr ₹22.48 Cr ₹10.72 Cr ₹12.29 Cr ₹14.74 Cr ₹14.47 Cr ₹6.77 Cr ₹9.68 Cr
Total Income ₹868.91 Cr ₹833.43 Cr ₹802.77 Cr ₹690.94 Cr ₹1,033.4 Cr ₹924.66 Cr ₹1,067.67 Cr ₹915.34 Cr ₹1,067.16 Cr ₹969.15 Cr ₹942.22 Cr ₹920.44 Cr
Cost of Materials Consumed ₹624.01 Cr ₹635.11 Cr ₹559.47 Cr ₹500.33 Cr ₹769.58 Cr ₹697.99 Cr ₹807.83 Cr ₹689.51 Cr ₹806.68 Cr ₹738.69 Cr ₹679.64 Cr ₹726.69 Cr
Purchases of Stock-in-Trade ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0
Changes in Inventories ₹1.53 Cr -₹35.62 Cr ₹24.57 Cr -₹18.36 Cr -₹23.75 Cr -₹10.61 Cr -₹8.95 Cr ₹7.25 Cr ₹79.79 Lakh ₹8.41 Cr ₹41.82 Cr -₹14.65 Cr
Employee Benefit Expense ₹26.53 Cr ₹27.74 Cr ₹23.56 Cr ₹26.17 Cr ₹27.02 Cr ₹21.8 Cr ₹19.78 Cr ₹17.29 Cr ₹18.14 Cr ₹15.07 Cr ₹17.28 Cr ₹15.8 Cr
Finance Costs ₹16.78 Cr ₹17.49 Cr ₹18.27 Cr ₹17.83 Cr ₹22.05 Cr ₹21.1 Cr ₹17.47 Cr ₹12.52 Cr ₹15.83 Cr ₹18.23 Cr ₹20.28 Cr ₹19.1 Cr
Depreciation & Amortisation ₹14.1 Cr ₹12.19 Cr ₹12.22 Cr ₹11.92 Cr ₹8.35 Cr ₹6.36 Cr ₹7.65 Cr ₹7.14 Cr ₹6.99 Cr ₹6.79 Cr ₹6.69 Cr ₹6.63 Cr
Other Expenses ₹102.66 Cr ₹96.47 Cr ₹92.01 Cr ₹95.91 Cr ₹123.16 Cr ₹92.92 Cr ₹108.88 Cr ₹87.17 Cr ₹106.72 Cr ₹81.84 Cr ₹81.63 Cr ₹76.81 Cr
Total Expenses ₹785.61 Cr ₹753.38 Cr ₹730.1 Cr ₹633.8 Cr ₹926.41 Cr ₹829.56 Cr ₹952.66 Cr ₹820.88 Cr ₹955.16 Cr ₹869.04 Cr ₹847.34 Cr ₹830.39 Cr
Profit Before Exceptional Items & Tax ₹83.3 Cr ₹80.05 Cr ₹72.67 Cr ₹57.14 Cr ₹106.99 Cr ₹95.1 Cr ₹115.01 Cr ₹94.46 Cr ₹112 Cr ₹100.11 Cr ₹94.89 Cr ₹90.05 Cr
Exceptional Items ₹7.2 Cr ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0
Profit Before Tax ₹90.5 Cr ₹80.05 Cr ₹72.67 Cr ₹57.14 Cr ₹106.99 Cr ₹95.1 Cr ₹115.01 Cr ₹94.46 Cr ₹112 Cr ₹100.11 Cr ₹94.89 Cr ₹90.05 Cr
Total Tax Expense ₹22.48 Cr ₹17.79 Cr ₹20.82 Cr ₹14.39 Cr ₹28.93 Cr ₹26.16 Cr ₹29.89 Cr ₹23.15 Cr ₹28.58 Cr ₹25.09 Cr ₹23.99 Cr ₹22.48 Cr
Net Profit ₹68.02 Cr ₹55.72 Cr ₹47.29 Cr ₹42.75 Cr ₹78.06 Cr ₹68.94 Cr ₹85.12 Cr ₹71.31 Cr ₹83.41 Cr ₹75.03 Cr ₹70.89 Cr ₹67.57 Cr
Other Comprehensive Income -₹22 Lakh ₹1.48 Cr -₹12 Lakh -₹12 Lakh -₹1.88 Cr ₹1.51 Cr -₹1.08 Cr -₹2 Lakh ₹4.45 Lakh -₹56.92 Lakh -₹44.01 Lakh ₹1.03 Cr
Total Comprehensive Income ₹67.8 Cr ₹57.2 Cr ₹47.17 Cr ₹42.63 Cr ₹76.18 Cr ₹70.45 Cr ₹84.04 Cr ₹71.29 Cr ₹83.46 Cr ₹74.46 Cr ₹70.45 Cr ₹68.6 Cr
EBITDA (computed) ₹114.18 Cr ₹109.73 Cr ₹103.16 Cr ₹86.89 Cr ₹137.39 Cr ₹122.56 Cr ₹140.13 Cr ₹114.12 Cr ₹134.82 Cr ₹125.14 Cr ₹121.86 Cr ₹115.79 Cr
Basic EPS ₹5.05 ₹4.62 ₹3.85 ₹3.17 ₹5.80 ₹5.12 ₹6.32 ₹5.30 ₹6.55 ₹5.83 ₹5.60 ₹5.65
Diluted EPS ₹5.05 ₹4.62 ₹3.85 ₹3.17 ₹5.80 ₹5.12 ₹6.32 ₹5.30 ₹6.55 ₹5.83 ₹5.60 ₹5.65
Latest 12 quarters shown of 18 on record.
Segment · Q4 FY26 (latest quarter) Revenue Result (PBIT) Assets Liabilities
Freight Rail Systems ₹685.21 Cr ₹88.57 Cr ₹1,566.22 Cr ₹371.84 Cr
Passenger Rail Systems ₹173.33 Cr ₹32.63 Cr ₹1,365.23 Cr ₹408.18 Cr
Segment · FY 2026 (annual) Revenue Result (PBIT) Assets Liabilities
Freight Rail Systems ₹2,604.25 Cr ₹317.93 Cr - -
Passenger Rail Systems ₹539.33 Cr ₹76.95 Cr - -
Want more history and ratios?
You're viewing the latest exchange-filed financials for Titagarh Rail Systems Limited. The full report adds 10+ years of line-item history, 20+ ratios, peer benchmarks and a downloadable PDF.
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Shareholding Pattern of Titagarh Rail Systems Limited

As per the shareholding pattern filed with NSE for the quarter ended Mar 2026, promoters hold 40.46%, foreign institutional investors hold 10.67%, domestic institutional investors hold 12.45%, retail and other public shareholders hold 36.41% of Titagarh Rail Systems Limited. The company had 559,860 shareholders on record.

Promoters: 40.46%DII (Domestic Institutional): 12.45%FII (Foreign Institutional): 10.67%Retail & Others: 36.41%
Mar 2026
QUARTER
40.46% Promoters
12.45% DII (Domestic Institutional)
10.67% FII (Foreign Institutional)
36.41% Retail & Others
Promoter holding - history
Now 40.46% · Mar 2026High 47.83% · Mar 2023Low 40.46% · Jun 2024
39%41.5%44%46.5%49%Dec 2015Jun 2018Nov 2020Mar 2023Jun 2025Dec 2015: 46.11%Mar 2016: 46.11%Jun 2016: 46.11%Sep 2016: 46.10%Dec 2016: 45.92%Mar 2017: 45.79%Jun 2017: 45.77%Sep 2017: 45.77%Dec 2017: 45.77%Mar 2018: 45.75%Jun 2018: 45.74%Sep 2018: 45.74%Dec 2018: 45.74%Mar 2019: 45.74%Jun 2019: 45.71%Sep 2019: 45.71%Dec 2019: 45.70%Mar 2020: 45.70%Jun 2020: 45.70%Sep 2020: 45.70%Nov 2020: 44.29%Dec 2020: 44.29%Mar 2021: 44.27%Jun 2021: 45.23%Sep 2021: 45.77%Dec 2021: 47.00%Mar 2022: 47.05%Jun 2022: 47.26%Sep 2022: 47.26%Dec 2022: 47.82%Mar 2023: 47.83%Jun 2023: 47.82%Jul 2023: 44.97%Sep 2023: 44.97%Dec 2023: 42.46%Mar 2024: 42.46%Jun 2024: 40.46%Sep 2024: 40.46%Dec 2024: 40.46%Mar 2025: 40.46%Jun 2025: 40.46%Sep 2025: 40.46%Dec 2025: 40.46%Mar 2026: 40.46%47.83%40.46%40.46%
Shareholding trend - last 6 quarters
Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Promoters40.46%40.46%40.46%40.46%40.46%40.46%
Public59.54%59.54%59.54%59.54%59.54%59.54%
Shareholding history - year on year (as at 31 March)
Mar 2026Mar 2025Mar 2024Mar 2023Mar 2022Mar 2021Mar 2020Mar 2019Mar 2018Mar 2017Mar 2016
Promoters40.46%40.46%42.46%47.83%47.05%44.27%45.70%45.74%45.75%45.79%46.11%
Public59.54%59.54%57.54%52.17%52.95%55.73%54.30%54.26%54.25%54.21%53.89%
Promoter change (YoY, %pts)+0.00-2.00-5.37+0.78+2.78-1.43-0.04-0.01-0.04-0.32-

Board & Governance of Titagarh Rail Systems Limited

As per the corporate governance filing with NSE for the quarter ended 31-MAR-2026, the board of Titagarh Rail Systems Limited has 12 directors - 6 independent and 5 executive. The board is chaired by JAGDISH PRASAD CHOWDHARY.

DirectorPositionOn board sinceListed boards
JAGDISH PRASAD CHOWDHARY Executive Director · Chairperson 2009-04-24 1
UMESH CHOWDHARY Executive Director · CEO-MD 1997-07-03 1
RASHMI CHOWDHARY Non-Executive - Non Independent Director 2014-08-14 1
PRITHISH CHOWDHARY Executive Director 2021-01-01 1
ANIL KUMAR AGARWAL Executive Director 2019-05-29 1
SAKET KANDOI Executive Director 2023-03-17 1
NAYANTARA PALCHOUDHURI Non-Executive - Independent Director 2020-06-22 5
KRISHAN KUMAR JALAN Non-Executive - Independent Director 2020-08-13 5
SUSHIL KUMAR ROONGTA Non-Executive - Independent Director 2021-01-01 6
ATUL RAVISHANKER JOSHI Non-Executive - Independent Director 2018-01-24 1
BONTHA PRASADA RAO Non-Executive - Independent Director 2023-09-04 4
DEBANJAN MANDAL Non-Executive - Independent Director 2023-09-04 4
Board Committees
CommitteeMembers
Audit Committee ATUL RAVISHANKER JOSHI (Chairperson), KRISHAN KUMAR JALAN, BONTHA PRASADA RAO
Nomination and remuneration committee KRISHAN KUMAR JALAN (Chairperson), JAGDISH PRASAD CHOWDHARY, BONTHA PRASADA RAO, SUSHIL KUMAR ROONGTA
Stakeholders Relationship Committee KRISHAN KUMAR JALAN (Chairperson), UMESH CHOWDHARY, NAYANTARA PALCHOUDHURI
Risk Management Committee ATUL RAVISHANKER JOSHI (Chairperson), DEBANJAN MANDAL, SUSHIL KUMAR ROONGTA, PRITHISH CHOWDHARY
Corporate Social Responsibility Committee RASHMI CHOWDHARY (Chairperson), JAGDISH PRASAD CHOWDHARY, NAYANTARA PALCHOUDHURI, KRISHAN KUMAR JALAN
MANAGEMENT COMMITTEE JAGDISH PRASAD CHOWDHARY (Chairperson), UMESH CHOWDHARY, PRITHISH CHOWDHARY, ANIL KUMAR AGARWAL
QUALIFIED INSTITUTIONS PLACEMENT COMMITTEE UMESH CHOWDHARY (Chairperson), ANIL KUMAR AGARWAL, ATUL RAVISHANKER JOSHI
FINANCE COMMITTEE ATUL RAVISHANKER JOSHI (Chairperson), UMESH CHOWDHARY, ANIL KUMAR AGARWAL

Group Structure of Titagarh Rail Systems Limited

Titagarh Rail Systems Limited has 1 subsidiary company and 1 joint venture. This group structure data is as of FY 2021. The corporate group structure reflects Titagarh Rail Systems Limited's business expansion strategy and organizational complexity.

1
Subsidiary companies
1
Joint ventures
Key Subsidiaries
Company Name CIN Shares Held
Titagarh Bridges And International Private Limited U28900WB2017PTC218811 -

Showing major subsidiaries. Total: 1.

Charges & Borrowings of Titagarh Rail Systems Limited

Open charges
₹6,703.93 Cr
Satisfied charges
₹7,305.2 Cr
Breakdown by lending institutions
Sbicap Trustee Company Limited₹5,500.00 Cr
Idbi Trusteeship Services Limited₹685.68 Cr
Others₹310.00 Cr
Uco Bank₹43.03 Cr
Central Bank of India₹33.32 Cr
Others₹131.90 Cr
Latest charge details
DateLenderAmountStatus
30 Dec 2025 Sbicap Trustee Company Limited ₹500 Cr Open
04 Jul 2024 Others ₹150 Cr Open
26 Apr 2023 Others ₹60 Cr Open
15 Dec 2021 Idbi Trusteeship Services Limited ₹685.68 Cr Open
25 Sep 2020 Others ₹100 Cr Open

Total charge records: 137 View all charges

Employees and EPFO Compliance at Titagarh Rail Systems Limited

Titagarh Rail Systems Limited has a workforce of 796 employees as of Apr 04, 2024.

Employee count
796
Active EPFO establishments
3
Employee growth
10.1%
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026

Employee Count & EPFO Data of Titagarh Rail Systems Limited

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Monthly employee headcount & PF contributions
EPFO establishment details & ECR filing status
Year-wise workforce analytics & attrition trends
PF exemption, coverage & compliance verification

GST Compliance of Titagarh Rail Systems Limited

XX%
Compliant
GSTR-1
GSTR-3B
GSTR-9
MH
KA
UP
TN
TS

GSTIN & GST Filing Data of Titagarh Rail Systems Limited

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GSTIN registrations & state-wise presence
Filing compliance - GSTR-1, GSTR-3B, GSTR-9
HSN/SAC codes with goods & services details
Taxpayer type, jurisdiction & business constitution

Credit Ratings, Litigation & Regulatory Alerts for Titagarh Rail Systems Limited

Credit rating
AAA
AA+
AA
AA-
! !
2015 2017 2019 2021 2023
Litigation
District Court 35
High Court 45
Supreme Court 0
NCLT / NCLAT 0
Pending
Disposed
Regulatory alerts
GSTIN Cancelled
Andhra Pradesh
GSTIN Cancelled
Telangana (on application)
EPFO Delay
12 months delay - Haryana
Violations via Directors
20 MCA + 19 Bank defaults

Credit Ratings, Legal Cases & Regulatory Alerts of Titagarh Rail Systems Limited

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Credit rating history across CARE, ICRA, Brickwork & India Ratings
Instrument-wise ratings, outlook & action timeline
Court-wise litigation (District, High Court, Supreme Court, NCLT)
Group company & common directorship litigation
Statutory compliance alerts (GSTIN, EPFO, ROC)
Director & company violations (MCA, SEBI, Banks, BSE/NSE)

MSME Payment Delays by Titagarh Rail Systems Limited

MSME Payment Delays by Titagarh Rail Systems Limited

Track payments outstanding to micro and small enterprise vendors, as disclosed in half-yearly MSME-1 returns filed with the MCA.

Amounts outstanding to MSME suppliers
Delay periods & reasons for delayed payments
Half-yearly MSME-1 filing history
Vendor-payment behaviour as a counterparty risk signal

Subsidiaries & Group Companies of Titagarh Rail Systems Limited

Subsidiaries & Group Companies of Titagarh Rail Systems Limited

See the full corporate group - holding company, subsidiaries, associates and joint ventures of Titagarh Rail Systems Limited with ownership details.

Holding & parent company details
Subsidiaries & step-down subsidiaries with % holding
Associates & joint ventures with partner details
Investments in other entities year-on-year

MCA Filings & Documents of Titagarh Rail Systems Limited

MCA Filings & Documents of Titagarh Rail Systems Limited

Download official documents filed with the Ministry of Corporate Affairs - from incorporation papers to the latest annual filings.

Incorporation documents, MoA & AoA
Annual returns (MGT-7) & financial statements (AOC-4)
Charge filings (CHG-1, CHG-4) & resolutions
Complete document index with filing dates

Recent Activity on Titagarh Rail Systems Limited

Charges
02 Mar 2026
A charge registered on 04 Sep 2024 via Charge ID 100980016 with Others was fully satisfied on 02 Mar 2026.
Charges
30 Dec 2025
A charge with Sbicap Trustee Company Limited amounted to Rs. 500.00 Cr with Charge ID 101222876 was registered on 30 Dec 2025.
Activity
15 Sep 2025
Titagarh Rail Systems Limited last Annual general meeting of members was held on 15 Sep 2025 as per latest MCA records.
Directors
05 Jun 2025
Aditya Purohit was appointed as a Company Secretary on 05 Jun 2025 & has been associated with this company since 1 year 1 month.
Charges
29 May 2025
A charge registered on 21 Mar 2023 via Charge ID 100699446 with Hdfc Bank Limited was fully satisfied on 29 May 2025.
Charges
08 May 2025
A charge registered on 24 Mar 2023 via Charge ID 100697478 with The Hongkong And Shanghai Banking Corporation Limited was fully satisfied on 08 May 2025.

Recent News on Titagarh Rail Systems Limited

Frequently Asked Questions about Titagarh Rail Systems Limited

Titagarh Rail Systems Limited is an active public limited company in the transport and logistics sector based in Kolkata, West Bengal, India. It was incorporated on 03 July 1997 (29+ years old) and is registered under CIN L27320WB1997PLC084819. Listed on BSE: 532966 and NSE: TWL. The company has 796 employees.

Titagarh Rail Systems Limited reported revenue of ₹3,943.1 Cr for FY 2025 (up 1.00% YoY).

The current directors of Titagarh Rail Systems Limited are:

The primary industry of Titagarh Rail Systems Limited is transport and logistics. The company specifically operates in railway equipment and supply. The company is currently active in this sector.

Yes. Titagarh Rail Systems Limited is listed on both BSE (code: 532966) and NSE (symbol: TWL).

Titagarh Rail Systems Limited can be reached at the registered office: Poddar Point 10Th Floor 113 Park Street Kolkata – 700016, West Bengal, India – 700016, or through the website titagarh.in.

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Financials, directors, compliance, charges and shareholding - sourced from MCA, SEBI and RBI filings.

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