Rs 26,000 crore order book: Engineering company launches third Diving Support Craft for Indian Navy

Titagarh Rail Systems Limited (TRSL) has launched the third of five indigenously built Diving Support Crafts (DSC) for the Indian Navy. The vessel was launched into the Hooghly River during a ceremony on September 12, 2025, a key milestone for TRSL's shipbuilding division and a part of the "Make in India" initiative. These vessels are designed as catamaran-type crafts with advanced, domestically sourced equipment. They are essential for the Navy's Command Clearance Diving Teams (CCDTs), aiding in underwater maintenance, repair, and salvage operations, as well as serving as critical training platforms for naval divers.

TRSL's Shipbuilding and Maritime Systems (SMS) Division has a proven track record, having delivered over 35 advanced vessels for various entities, including the Indian Navy, the Coast Guard, and the National Institute of Ocean Technology (NIOT). Notably, one of its Coastal Research Vessels was showcased at the 12th Presidential Fleet Review, a significant honor that underscores the company's maritime innovation. To optimise future growth, the board of directors recently approved the transfer of the SMS business to a new entity, allowing TRSL to concentrate on its core rail sector operations.

The company is further expanding its shipbuilding capabilities. TRSL SMS has recently acquired a jetty and adjacent land at the Falta SEZ Authority on a long-term lease to expand its shipyard. Additionally, it has received a Letter of Intent (LOI) from Garden Reach Shipbuilders & Engineers (GRSE) for the construction of two Coastal Research Vessels for the Geological Survey of India. These developments reinforce TRSL's position as a key contributor to India's shipbuilding ecosystem and its commitment to national policies like the National Shipbuilding Mission.

About the Company

Titagarh Rail Systems Limited (TRSL) is a leading provider of comprehensive mobility solutions with manufacturing facilities in India and Italy, specialising in the design and production of a wide range of rolling stock, including trains, coaches, and wagons. In a strategic move to optimise its shipbuilding business, TRSL's Board of Directors has approved the transfer of its shipbuilding and maritime systems division into a new, wholly-owned subsidiary named Titagarh Naval Systems. This new entity will manage a state-of-the-art shipyard at Falta, south of Kolkata, with an order book exceeding Rs 575 crore. The advanced facility is designed to handle ships up to 180 meters in length, with an annual capacity of 12-16 vessels. This restructuring will allow TRSL to focus on its core railway systems while enabling Titagarh Naval Systems to aggressively pursue growth and secure new contracts for specialised vessels, supporting key Government of India maritime initiatives.

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 company has a market cap of over Rs 13,000 crore and 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 500 per cent in just 3 years and a whopping 2,000 per cent returns in 5 years.

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