TITAGARH RAIL SYSTEMS LIMITED has informed the Exchange about Bagging/Receiving of orders/contracts
TITAGARH · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Titagarh Rail Systems has received a Letter of Intent from Garden Reach Shipbuilders & Engineers Ltd. (GRSE) to build 2 research vessels worth ₹445 crore plus ₹22.25 crore GST (₹467.25 crore total). The vessels are intended for the Geological Survey of India and will be used for coastal exploration activities including offshore geological mapping, mineral exploration, and ocean environment monitoring. The project is to be completed within 28 months from the LOI date. This is a domestic subcontracting order, with no related party involvement.
This is a sizeable order from a government-owned defence shipyard that meaningfully expands Titagarh's shipbuilding order book and diversifies it beyond railway wagons and metro coaches. The 28-month execution timeline provides good revenue visibility, though delivery execution and margin realization on the new shipbuilding vertical will be key things for investors to watch.