Titagarh Rail Systems Ltd (TITAGARH) AI Stock Analysis

• Market Cap: ₹106.35B
• Dividend Yield: 0.13%
• Average Volume (3M): 83.08K
• Price to Earnings (P/E): 54.5
• Beta (1Y): 1.57
• Revenue Growth: -14.65%
• EPS Growth: -36.95%
• Country: IN
• Employees: 870
• Sector: Industrials
• Sector Strength: 72
• Industry: Railroads
• EPS (TTM): 3.50
• Shares Outstanding: 134,673,770
• 10 Day Avg. Volume: 80,708
• 30 Day Avg. Volume: 83,083
• PEG Ratio: -4.53
• Price to Book (P/B): 4.33
• Price to Sales (P/S): 2.78
• P/FCF Ratio: -29.27
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 60 Neutral
• Price Target: ₹929.00 ▲(19.90% Upside)

Titagarh Rail Systems Ltd's strong financial performance is offset by significant cash flow challenges and a high P/E ratio, suggesting potential overvaluation. Technical indicators show weak momentum, further impacting the stock's attractiveness.

Positive Factors

Revenue Growth

Consistent revenue growth indicates expanding market reach and successful product adoption, supporting long-term business sustainability.

Capital Structure

A strong capital structure with a healthy equity ratio provides financial stability and flexibility for future growth initiatives.

Profit Margins

Solid net profit margins reflect efficient cost management, enhancing the company's ability to generate sustainable profits over time.

Negative Factors

Cash Flow Challenges

Negative cash flow trends could impact liquidity and limit the company's ability to invest in growth or manage debt, affecting long-term stability.

Increased Leverage

Higher leverage can increase financial risk, potentially straining the company's ability to manage debt and impacting future financial flexibility.

Declining Margins

Declining EBIT and EBITDA margins may indicate rising costs or pricing pressures, which could affect profitability and competitive positioning.

Titagarh Rail Systems Ltd Business Overview & Revenue Model

Company Description

Titagarh Rail Systems Limited manufactures and sells freight and passenger rail systems in India and internationally. It operates through Freight Rail Systems and Passenger Rail Systems segments. The company offers loco shells, couplers, draft gears, cast bogies, and cast manganese steel crossing products; automobile-carrying, flat, hopper, tank, box, covered, and special purpose wagons; and brake vans. It also provides passenger rolling stock products, including high speed electric loco, electric multiple unit train sets, urban metro rail systems, light rail transport, diesel electric multiple units, body shells, and bogies; and propulsion and electrical equipment, such as traction converters and power electronics, propulsion systems, auxiliary power supply products, electronic equipment, traction motors, train control and monitoring systems, and hardware and software products. In addition, the company offers re-design, maintenance, assistance and global, repair, inspection and refurbishing, systems and electrical equipment upgrade, exteriors and interiors face-lift, and power upgrading services. Further, it engages in the shipbuilding business comprising coastal research vessels, naval vessels, passenger ships, tugs, and inland water transport vessels. Additionally, the company manufactures modular panel bridges, bailey bridges, unibridges, and matière X bridges; and defense products, such as shelters, specialized wagons, EMI/EMS containers, CBRNe equipment, mine ploughs, pressure vessels, and specialized canopies. The company was formerly known as Titagarh Wagons Limited and changed its name to Titagarh Rail Systems Limited in May 2023. Titagarh Rail Systems Limited was founded in 1983 and is based in Kolkata, India.

How the Company Makes Money

Titagarh Rail Systems Ltd generates revenue primarily through the production and sale of railway rolling stock, including passenger coaches, freight wagons, and metro cars. The company secures contracts from government agencies, state-run enterprises, and private sector clients for the manufacture and supply of its products. Key revenue streams include direct sales of finished rail vehicles, maintenance contracts, and infrastructure projects related to rail systems. Additionally, strategic partnerships with other companies and participation in government tenders for various rail projects contribute significantly to its earnings, allowing TITAGARH to tap into the growing demand for modern rail transport solutions.

Titagarh Rail Systems Ltd Financial Statement Overview

Summary

Titagarh Rail Systems Ltd shows strong revenue and profit growth with a stable capital structure. However, cash flow challenges due to negative free cash flow growth and negative operating cash flow pose risks to future operations.

Income Statement

Titagarh Rail Systems Ltd has shown strong revenue growth over the years, with a notable increase in gross profit margins. The revenue growth rate from 2024 to 2025 is modest. Net profit margin remains solid, indicating effective cost management. However, a slight decline in EBIT and EBITDA margins from 2024 suggests potential cost pressures.

Balance Sheet

The company's balance sheet reflects a healthy equity ratio, suggesting a strong capital structure. The debt-to-equity ratio has increased, indicating a higher leverage but still within manageable levels. Return on equity is strong, reflecting effective use of shareholders' funds.

Cash Flow

Cash flow analysis reveals a concerning trend with negative free cash flow growth, primarily due to increased capital expenditures. Operating cash flow is negative, which could impact future liquidity. The free cash flow to net income ratio is unfavorable, pointing to cash flow challenges despite profitability.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	36.44B	38.68B	38.53B	27.80B	14.68B	15.21B
Gross Profit	8.00B	8.22B	5.07B	3.20B	2.14B	1.49B
EBITDA	4.81B	5.08B	4.71B	3.06B	1.83B	1.05B
Net Income	2.39B	2.76B	2.86B	1.30B	-3.28M	-149.97M
Balance Sheet
Total Assets	0.00	37.62B	32.16B	23.29B	26.79B	24.74B
Cash, Cash Equivalents and Short-Term Investments	4.67B	4.88B	6.09B	999.83M	418.26M	1.24B
Total Debt	0.00	6.27B	1.66B	3.53B	9.20B	8.47B
Total Liabilities	-24.84B	12.78B	9.98B	13.65B	18.37B	16.33B
Stockholders Equity	24.84B	24.83B	22.18B	9.64B	8.42B	8.41B
Cash Flow
Free Cash Flow	0.00	-3.67B	-777.30M	-418.85M	-1.06B	-533.66M
Operating Cash Flow	0.00	-1.31B	857.93M	-51.44M	-38.75M	66.27M
Investing Cash Flow	0.00	-6.08B	-5.37B	-506.57M	-731.11M	-745.24M
Financing Cash Flow	0.00	4.36B	7.24B	665.26M	-527.06M	432.15M

Titagarh Rail Systems Ltd Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 774.80
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:TITAGARH, the sentiment is Negative. The current price of 774.8 is below the 20-day moving average (MA) of 810.18, below the 50-day MA of 854.11, and below the 200-day MA of 847.86, indicating a bearish trend. The MACD of -23.85 indicates Negative momentum. The RSI at 40.44 is Neutral, neither overbought nor oversold. The STOCH value of 60.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:TITAGARH.

Titagarh Rail Systems Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IRCON	65 Neutral	₹144.28B	24.02	―	1.73%	-13.85%	-34.81%
RITES	64 Neutral	₹108.23B	26.33	―	3.49%	-5.23%	3.21%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
TEXRAIL	63 Neutral	₹51.85B	24.12	―	0.59%	13.15%	6.26%
BEML	61 Neutral	₹142.13B	48.04	―	0.31%	-1.31%	3.61%
TITAGARH	60 Neutral	₹106.35B	54.49	―	0.13%	-14.65%	-36.95%
KEC	60 Neutral	₹187.75B	27.48	―	0.78%	12.21%	56.50%

Titagarh Rail Systems Ltd Corporate Events

Titagarh Rail Systems Ltd to Engage with Investors in Mumbai Roadshow

Titagarh Rail Systems Ltd has announced that its senior management will participate in a Non-Deal Roadshow organized by Nuvama Institutional Equities to meet with investors in Mumbai on November 24th and 25th, 2025. This engagement is part of the company’s efforts to strengthen investor relations and provide insights into its operations, although no unpublished price-sensitive information will be disclosed during these meetings.

Titagarh Rail Systems Announces Strategic Investments and Business Restructuring

Titagarh Rail Systems Ltd announced several strategic decisions following its board meeting on November 13, 2025. The company plans to invest up to Rs. 50 Crore in its subsidiary, Titagarh Naval Systems Limited, to facilitate business expansion with a strategic investor. Additionally, it will engage in wagon leasing under the Railways’ Wagon Leasing Scheme and transform its Design and Engineering business into a separate unit, the Titagarh Engineering & Technology Centre, to boost innovation and efficiency. The board also approved the unaudited financial results for the quarter and half-year ended September 30, 2025, despite challenges faced by its associate company in Italy, Titagarh Firema SpA, which is undergoing a financial restructuring process.

Titagarh Rail Systems to Engage with Investors in Mumbai

Titagarh Rail Systems Ltd announced that its senior management will attend investor meetings organized by MSCI in Mumbai on September 24th and 25th, 2025. These meetings, which include group and one-on-one sessions, aim to engage with investors and stakeholders, although no unpublished price-sensitive information will be disclosed.

Titagarh Rail Systems Delivers First Indigenous Diving Support Craft to Indian Navy

Titagarh Rail Systems Limited has delivered the first indigenously built Diving Support Craft (DSC A20) to the Indian Navy, marking a significant milestone in its shipbuilding endeavors. This delivery, part of a series of five vessels under the Make in India initiative, highlights TRSL’s growing role in India’s maritime sector and its commitment to enhancing the Navy’s operational readiness. The establishment of Titagarh Naval Systems as a subsidiary will allow TRSL to focus on its core railway systems business while enabling aggressive growth in shipbuilding, further contributing to India’s maritime excellence.