Manufactures and supplies railway coach interior components — primarily seats and berths — to Indian Railways coach factories. Recent orders include Rs. 5.26 crore from Modern Coach Factory (MCF), Raebareli for 78-seater LHB 2nd AC Chair Car seating, Rs. 3.36 crore from MCF for 50 sets of seat and berth for LWS(DDG) coaches, Rs. 1.62 crore from Integral Coach Factory (ICF), Chennai for 15 sets of Second AC Chair Car seats, and Rs. 3.95 crore from ICF for 31 sets of seats and berths with hardware for LWS PP coaches. Through its wholly-owned subsidiary Oriental Foundry Private Limited, it also participates in railway wagon manufacturing, including a joint bid with Hum Industrial Technology (USA) for an RDSO Smart Wagon tender for 346 Bearing & Wheel Health Monitoring Module units. Combined order book with the subsidiary stood at Rs. 1,739.80 crore as of FY26 results (~3.3x FY26 revenue of Rs. 573.35 crore). New growth lines include a 49%-owned JV (ABOR Projects LLP) for turnkey railway coach refurbishment, partnership with HUM International for smart wagon technology on 300-400 wagons, a collaboration with United Wagon for 25T high axle-load wagons, and entry into wagon leasing with regulatory approvals secured. The cost structure is dominated by materials at 78.6% of revenue, with employee costs at 6.1%, other opex at 8.0%, depreciation at 1.7%, and capex at 4.4% of revenue. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Railway coach interior components, Railway wagon manufacturing, Railway coach refurbishment, Wagon leasing. Order-driven, contract manufacturing for Indian Railways with working capital sensitivity
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 173 | 325 | 526 | 602 | 573 |
| EBITDA (ex other income) | 30 | 25 | 67 | 70 | 85 |
| margin % | 17.5 | 7.7 | 12.7 | 11.6 | 14.9 |
| Owners' profit | 16 | 3 | 30 | 0 | 0 |
| EPS, as reported (₹) | 2.89 | 0.59 | 5.51 | 4.68 | 6.37 |
| ROE % · ROCE % | 14.9 · 12.3 | 3.0 · 8.3 | 10.5 · 15.1 | 8.4 · 15.9 | 10.1 · 18.2 |
| Debt / equity (x) | 1.64 | 2.66 | 0.96 | 0.77 | 0.73 |
| Cash from operations | 2 | (44) | 6 | (24) | (30) |
| Capex | 0 | (26) | (6) | (15) | (25) |
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 123 | 186 | 153 | 140 | 118 | 133 | 169 | 153 |
| Profit before tax | 8 | 14 | 10 | 12 | 8 | 14 | 18 | 16 |
| Net profit | 6 | 10 | 8 | 5 | 6 | 11 | 14 | 12 |
| EPS (₹) | 1.29 | 1.70 | 1.17 | 0.83 | 0.91 | 1.59 | 2.06 | 1.77 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| TITAGARH RAIL SYSTEMS LTD | 11,348 | 59.4 | 4.62 | 35.3 | 5.0 | 7.4 | 15.9 | 13.3 |
| JUPITER WAGONS LIMITED | 10,254 | 63.8 | 3.43 | 28.1 | 6.2 | 7.6 | — | 11.0 |
| TEXMACO RAIL & ENG. LTD. | 4,829 | 22.2 | 2.00 | 13.2 | 8.0 | 9.0 | 21.0 | 10.0 |
| ORIENTAL RAIL INFRA L ◆ | 828 | 19.5 | 1.97 | 11.4 | 10.1 | 12.6 | 21.1 | 17.0 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · Wins order worth Rs 5.85 cr from Indian Railways MCF Raebareli | business updates | medium | — | — |
| 10 Sept 2026 · Postal Ballot Result: Fund Utilization Variation Approved | fund raising | medium | — | — |
| 10 Sept 2026 · Postal ballot passed for variation in preferential issue fund use | fund raising | medium | — | — |
| 10 Sept 2026 · Postal ballot approves change in use of preferential issue funds | fund raising | medium | — | — |
| 9 Sept 2026 · AGM 2026: All 9 resolutions passed; final dividend declared | board shareholder meetings | low | — | — |
| 8 Sept 2026 · 35th AGM held, final dividend declared and key director appointments approved | board shareholder meetings | low | — | — |
| 4 Sept 2026 · ORIL signs tech agreement with Russia's UWC for 25T bogie and gondola car development | compliance | low | — | — |
| 4 Sept 2026 · Oriental Rail Infra inks tech development deal with Russia's UWC arm | compliance | low | — | — |
| 25 Aug 2026 · Order worth Rs 1.76 cr from ICF Chennai for MEMU coach seats | business updates | medium | — | — |
| 25 Aug 2026 · Investor meeting with NV Alpha Fund Management on Aug 28, 2026 | board shareholder meetings | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 19.5 | 26.9 | 52 of 147 | 65% |
| P/B | 2.0 | 3.4 | 38 of 119 | 69% |
| ROCE | 12.6 | 11.2 | 70 of 153 | 55% |
| ROE | 10.1 | 9.2 | 59 of 125 | 53% |
| Debt / Equity | 0.7 | 0.2 | 106 of 125 | 15% |
| EBITDA margin | 17.0 | 12.6 | 38 of 117 | 68% |
| Revenue growth | 9.5 | 19.5 | 78 of 122 | 36% |
| Profit growth | 121.0 | 17.1 | 21 of 117 | 83% |
| Market cap | 828 | 376 | 53 of 149 | 65% |
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| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
