TITAGARH RAIL SYSTEMS LIMITED has informed the Exchange about Transcript

Titagarh Rail Systems filed the transcript of its Q4 FY25 earnings call held on June 2, 2025. FY25 saw record wagon production of 9,431 units, the highest by any company in a single year in India, though wheelset shortages from Rail Wheel Factory impacted Q3 and Q4 output (expected to normalize from June 2025). EBITDA margin improved from 9.44% to 10.4% QoQ. The Passenger Rail segment is ramping up, with the Bangalore Metro's first train dispatched in Dec/Jan, the Ahmedabad Metro's first train expected in Q2 FY26, and Vande Bharat by end of Q4 FY26/early FY27. Management targets a run rate of 20-25 cars/month in FY26 and 40-50 cars/month in FY27. Foundry produced a record 27,240 metric tons in FY25 and is targeting 40,000 tonnes/month. The propulsion business supplied 636 traction motors in FY25 and targets 1,500-1,800 per year. Order book stands at ~INR 11,000 crores standalone plus ~INR 13,000 crores in JVs, with major opportunity pipelines cited at INR 15,800 crores (Metro) and INR 72,000 crores (Vande Bharat). The shipbuilding business is being relaunched with new land acquired in Falta. A Titagarh Firema audit qualification was noted, with maximum impact capped at the book value of the investment.