Annual Report of Titagarh Rail Systems Limited for the financial year 2024-25
TITAGARH · price
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Titagarh Rail Systems has resubmitted its FY 2024-25 Annual Report after correcting page alignment; there are no changes to the audited financial statements. Standalone revenue from operations was flat at Rs. 3,865.82 Cr (up 0.32% YoY), while EBIDTA grew 3.39% to Rs. 508.39 Cr (consolidated) and standalone PAT hit a record Rs. 303.43 Cr. The company maintained its net debt negative status, got its credit rating upgraded to CRISIL AA-/Stable (long-term) and A1+ (short-term), and raised its dividend by 25% to Re. 1 per share. Total order book stands at Rs. 11,200 Cr for the company plus Rs. 13,326 Cr share from JVs, with PRS pipeline robust at Rs. 26,000 Cr including JV share. Management added two new verticals (Shipbuilding & Maritime Systems, Signalling & Safety Systems) and spun off shipbuilding into a new wholly-owned subsidiary Titagarh Naval Systems Pvt Ltd.
Positive for shareholders: record PAT, credit rating upgrade, higher dividend, and strong order pipeline of Rs. 24,500+ Cr provide revenue visibility for several years. The promoter warrant issuance of Rs. 199.99 Cr signals confidence, while the 40-acre land lease and new shipbuilding subsidiary indicate capacity expansion that should support future growth.