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Titagarh Rail Systems Ltd
(TITAGARH)
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Rating:55Neutral
Price Target:
₹945.00
▲(7.06% Upside)
Action:Reiterated
Date:06/02/26
The score is held back primarily by weaker FY2026 profitability (margin and ROE compression) and ongoing negative free cash flow despite an operating cash flow rebound. Technicals are moderately supportive, but the high P/E and minimal dividend yield materially reduce the valuation component and cap the overall score.
Positive Factors
Diversified rail product mix
Titagarh’s revenue streams span freight, passenger, metro, components and exports, giving structural diversification. This mix spreads tender and project risk across segments, supports recurring aftermarket spares, and reduces reliance on any single customer or project for multi-month horizon stability.
Negative Factors
Uneven revenue trajectory
Revenue volatility from project-based contracts and tender timing produces lumpy top-line performance. A structural pattern of uneven growth complicates capacity planning and utilization, raising the risk that margins and cash generation will fluctuate across 2–6 month horizons as orders and acceptances shift.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified rail product mix
Titagarh’s revenue streams span freight, passenger, metro, components and exports, giving structural diversification. This mix spreads tender and project risk across segments, supports recurring aftermarket spares, and reduces reliance on any single customer or project for multi-month horizon stability.
Read all positive factors
Titagarh Rail Systems Ltd (TITAGARH) vs. iShares MSCI India ETF (INDA)
Market Cap
₹110.04B
Dividend Yield0.12%
Average Volume (3M)83.08K
Price to Earnings (P/E)65.9
Beta (1Y)1.93
Revenue Growth-17.63%
EPS Growth-38.37%
CountryIN
Employees870
SectorGeneral
Sector StrengthN/A
IndustryRailroads
Share Statistics
EPS (TTM)12.57
Shares Outstanding134,673,770
10 Day Avg. Volume80,708
30 Day Avg. Volume83,083
Financial Highlights & Ratios
PEG Ratio-1.13
Price to Book (P/B)3.16
Price to Sales (P/S)2.43
P/FCF Ratio-142.02
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹990.00Price Target Upside12.16% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)21.33
Revenue Forecast (FY)₹45.32B
Titagarh Rail Systems Ltd Business Overview & Revenue Model
Company Description
Titagarh Rail Systems Limited, an Indian company established in 1983 and based in Kolkata, is a global manufacturer and supplier of comprehensive rail transportation solutions for both freight and passenger sectors. The company operates through tw...
How the Company Makes Money
Titagarh Rail Systems Ltd primarily makes money by executing manufacturing and supply contracts for rail rolling stock and related systems. Its key revenue streams typically include: (1) Freight rolling stock: revenue from the manufacture and sale...
Titagarh Rail Systems Ltd Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
74
Positive
Cash Flow
42
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 31.86B | 38.68B | 38.53B | 27.80B | 14.68B |
| Gross Profit | 7.03B | 8.22B | 5.07B | 3.20B | 2.14B |
| EBITDA | 3.48B | 5.08B | 4.71B | 3.06B | 1.83B |
| Net Income | 1.23B | 2.76B | 2.86B | 1.30B | -3.28M |
Balance Sheet | |||||
| Total Assets | 40.39B | 37.62B | 32.16B | 23.29B | 26.79B |
| Cash, Cash Equivalents and Short-Term Investments | 3.17B | 4.88B | 6.09B | 999.83M | 418.26M |
| Total Debt | 6.23B | 6.27B | 1.66B | 3.53B | 9.20B |
| Total Liabilities | 15.82B | 12.78B | 9.98B | 13.65B | 18.37B |
| Stockholders Equity | 24.56B | 24.83B | 22.18B | 9.64B | 8.42B |
Cash Flow | |||||
| Free Cash Flow | -545.80M | -3.67B | -777.30M | -418.85M | -1.06B |
| Operating Cash Flow | 3.14B | -1.31B | 857.93M | -51.44M | -38.75M |
| Investing Cash Flow | -1.86B | -6.08B | -5.37B | -506.57M | -731.11M |
| Financing Cash Flow | 90.20M | 4.36B | 7.24B | 665.26M | -527.06M |
Titagarh Rail Systems Ltd Technical Analysis
Neutral
882.65
Price Trends
835.56
Negative
764.58
Positive
807.23
Positive
Market Momentum
3.03
Positive
42.08
Neutral
6.47
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:TITAGARH, the sentiment is Neutral. The current price of 882.65 is above the 20-day moving average (MA) of 880.93, above the 50-day MA of 835.56, and above the 200-day MA of 807.23, indicating a neutral trend. The MACD of 3.03 indicates Positive momentum. The RSI at 42.08 is Neutral, neither overbought nor oversold. The STOCH value of 6.47 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:TITAGARH.
Titagarh Rail Systems Ltd Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹107.29B | 26.11 | ― | 3.24% | 8.91% | 6.54% | |
63 Neutral | ₹45.35B | 23.40 | ― | 0.56% | -10.85% | -14.00% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹110.04B | 65.86 | ― | 0.12% | -17.63% | -38.37% | |
55 Neutral | ₹147.85B | 195.91 | ― | 0.29% | 8.16% | -51.67% | |
55 Neutral | ₹106.42B | 64.92 | ― | 0.68% | -26.43% | -55.80% | |
52 Neutral | ₹14.37B | 132.86 | ― | 0.15% | 9.99% | ― |
* General Sector Average
IN:TITAGARH
Titagarh Rail Systems Ltd
827.35
-101.14
-10.89%
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114.85
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Titagarh Rail Systems Ltd Corporate Events
Titagarh Rail Notifies Shareholders on Transfer of Unclaimed Shares to IEPF
Jun 23, 2026
Titagarh Rail Systems Ltd has notified stock exchanges that it has published newspaper notices to shareholders regarding the transfer of shares to the Investor Education and Protection Fund Authority. The transfer relates to shares associated with...
Titagarh Rail Systems posts clean FY26 results, exits Italian operations
May 31, 2026
Titagarh Rail Systems Ltd reported its audited standalone and consolidated financial results for the quarter and year ended 31 March 2026, with statutory auditors issuing unmodified opinions, and the results being made available on stock exchange ...
Titagarh Rail Systems Clears FY26 Results, Exits Italian Operations and Proposes Dividend
May 31, 2026
Titagarh Rail Systems’ board has approved audited standalone and consolidated financial results for the year ended 31 March 2026, with auditors issuing an unmodified opinion, and the results made available on the company’s and stock ex...
Titagarh Naval Systems Launches Fourth Diving Support Craft for Indian Navy
Apr 19, 2026
Titagarh Naval Systems Limited, a wholly owned subsidiary of Titagarh Rail Systems, has launched the fourth Diving Support Craft, A23 (YARD 328), for the Indian Navy in Kolkata as part of a five-vessel series under the Make in India initiative. Th...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.