Titagarh Wagons shines after receiving order from Navy
DSIJ Intelligence / 12 Dec 2016
Titagarh Wagons has been accredited with registration by the Ministry of Defence (Navy), Directorate of Ship Production for undertaking construction of ‘non-weapon platforms' upto 120-metre length and all types of 'yardcraft’.
Titagarh Wagons has been accredited with registration by the Ministry of Defence (Navy), Directorate of Ship Production for undertaking construction of ‘non-weapon platforms' upto 120-metre length and all types of 'yardcraft’. The company has received an order for construction of two fuel barges for the Indian Navy in its recently added shipbuilding vertical.
On the financial front, Titagarh Wagons’ revenue increased 20.23 per cent to Rs 69.66 crore in Q1FY17 as compared to the same period in the previous financial year. The company posted operating profit of Rs 4.44 crore in Q1Fy17 against operating loss of Rs 18 lakh in Q1FY16. Its net profit also soared more than two-fold to Rs 3.74 crore in Q1FY17 on a yearly basis.
The share price of Titagarh Wagons increased 3.94 per cent on the bourses in early trades and is trading at Rs 117.85 on intra-day basis. The stock has given return of 10.38 per cent in the past one month. Its book value stood at Rs 59.96 and has given dividend yield of 0.68 per cent.
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