Railway to Ship Construction & Rs 26,000 crore order book: Company receives order of Rs 467.25 crore from GRSE

Titagarh Rail Systems Limited (TRSL) received a Letter of Intent (LOI) from Garden Reach Shipbuilders & Engineers Ltd to construct two research vessels for the Geological Survey of India. The order, valued at Rs 467.25 crore (including GST), is for ships that will be used for offshore geological mapping, mineral exploration, and ocean environment monitoring. The vessels will be built under the classification of the Indian Register of Shipping and the project is scheduled for completion within 28 months from the date of the LOI. This is a domestic subcontracting agreement.

Recently, Titagarh Rail Systems Limited (TRSL) entered the shipbuilding industry by establishing a new, wholly-owned subsidiary, Titagarh Naval Systems Private Limited (TNSPL). TRSL's Board approved the acquisition of TNSPL's 1,000 equity shares for ₹10,000 and will transfer its existing Shipbuilding and Maritime Systems (SMS) business to the new entity. This strategic move allows TRSL to focus on its core rail business while TNSPL develops its own naval systems business independently and attracts potential investors.

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About the Company

Titagarh Rail Systems Limited stands as a premier comprehensive mobility solutions provider, boasting advanced manufacturing facilities in India and Italy. Their expertise lies in the design and production of a diverse portfolio of world-class rolling stock, encompassing everything from modern semi-high-speed trains and urban metros to comfortable passenger coaches and specialised freight wagons, alongside crucial propulsion systems. Driven by innovation and a commitment to excellence, Titagarh Rail Systems actively contributes to India's growth as a manufacturing hub and aims to redefine global transportation standards. The company has a market cap of over Rs 12,000 crore.

According to the Quarterly Results, the net sales decreased by 25 per cent to Rs 679 crore and net profit decreased by 54 per cent to Rs 31 crore in Q1FY26 compared to Q1FY25. In FY25, the company reported net sales of Rs 3,867.75 crore and net profit of Rs 276.39 crore.

The order book stands at Rs 26,000 crore as of June 30, 2025, excluding GST and including its share in Joint venture. The stock gave multibagger returns of 475 per cent in just 3 years and a whopping 1,650 per cent returns in 5 years.

Disclaimer: This article is for informational purposes only and is not intended as investment advice.