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TITAGARH RAILWAY WAGONS ACTIVE

Titagarh Rail Systems Limited

Timeframe: WEEKLY CHART ā€¢ Study Published: 24 Sep 2025, 10:29 PM
ENTRY PRICE
ā‚¹927.50
TARGET PRICE
ā‚¹1325/1580/1860
STOPLOSS
ā‚¹675
Chart Levels & Structure
TITAGARH Chart Click to Zoom
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Titagarh Rail Systems Limited (TITAGARH)
RESEARCH & ANALYSIS STUDY RATIONALE
Complete Detailed Analysis & Research Rationale

TITAGARH RAIL SYSTEMS

(NSE: TITAGARH)


Business:

  • Leading Indian player in freight wagons, passenger coaches, propulsion systems and shipbuilding
  • The business mix is gradually shifting from traditional freight wagons towards higher value passenger rail systems

    • Q1 FY27 Performance šŸ“Š

  • Passenger Rail revenue grew 197% YoY and 43% QoQ
  • Passenger Rail contributed around 31% of total revenue
  • More than 30 passenger coaches were dispatched
  • 1,284 wagons were dispatched during the quarter

    • Order Book šŸš‚

  • Total order book stands at approximately ā‚¹26,635 Cr, including JV orders
  • Standalone order book is around ā‚¹13,335 Cr
  • Passenger Rail accounts for approximately ā‚¹10,395 Cr
  • Freight Rail accounts for approximately ā‚¹2,470 Cr
  • The order book provides strong medium term revenue visibility.

    • Key Positives šŸŸ¢

  • Passenger Rail is becoming a much larger contributor
  • Strong opportunity from Vande Bharat and metro coaches
  • Propulsion systems offer potential for higher margin growth
  • Forged wheel JV with Ramkrishna Forgings adds another growth avenue
  • Shipbuilding provides an additional long term opportunity
  • Wagon leasing has also opened a new business avenue.

    • Growth Triggers šŸš€

  • Faster execution of passenger coach orders
  • Vande Bharat sleeper coach deliveries
  • Metro coach orders and AMC revenue
  • Propulsion system localisation
  • Growth in forged wheel manufacturing
  • New freight wagon orders
  • Shipbuilding expansion

    • What Iā€™m Watching āš ļø

  • Execution against the large order book
  • Passenger Rail margins as the business scales
  • Working capital and cash flow
  • New wagon order inflows
  • Timely commissioning and ramp up of new capacities
  • Valuation after the significant rerating in the stock

    • Overall View:


    Titagarh is undergoing an important business mix transformation.


    The key change is the increasing contribution from Passenger Rail, while freight wagons continue to provide scale and the propulsion, forged wheel and shipbuilding businesses provide additional optionality.


    The ā‚¹26,635 Cr order book provides strong visibility, but execution and margin expansion will be the key factors that determine the next phase of the story.


    Technical Setup:

    šŸ‘‰ Refer to the chart for my technical levels, support/resistance zones and price action view.


    Disclaimer: Educational content only. Not investment advice. Please do your own research.

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