TITAGARH RAIL SYSTEMS LIMITED has informed the Exchange regarding a press release dated August 22, 2025, titled "TRSL Shipbuilding and Maritime Systems (SMS) division secures record ₹467.25 crore order from GRSE for two Coastal Research Vessels intended for Geological Survey of India".
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Titagarh Rail Systems' Shipbuilding and Maritime Systems (SMS) division has secured its single largest order to date — ₹467.25 crore (₹445 crore + ₹22.25 crore GST) — from Garden Reach Shipbuilders & Engineers (GRSE) to build two Coastal Research Vessels for the Geological Survey of India. Each vessel will operate in depths of 5–1,000 metres within India's Exclusive Economic Zone, have a 30-year service life, and feature electric propulsion, DP1 dynamic positioning, and onboard labs with 22 types of scientific equipment. The company has delivered 35+ vessels historically and is setting up a new state-of-the-art shipyard at Falta, Kolkata, capable of handling ships up to 180 metres with annual capacity of 12–16 vessels. Separately, the Board has approved transferring the shipbuilding business into a wholly owned subsidiary called Titagarh Naval Systems, which will carry an order book of over ₹575 crore.
This is a positive development — the order is the largest ever for TRSL's shipbuilding division and strengthens its revenue visibility, while the proposed subsidiary structure signals sharper focus on both the core railway and shipbuilding businesses. For shareholders, the announcement reinforces growth momentum in the maritime segment, though execution timelines and the Falta shipyard capex will be key things to watch.