Conference Call with Titagarh Rail Systems Management and Analysts on Q1FY27 Performance and Outlook. Listen to the full earnings transcript.
Commercial Vehicles company Titagarh Rail Systems announced Q1FY27 results Consolidated Financial Highlights: Total Income: For Q1FY27, total income stood at Rs 771.71 crore, representing a YoY increase of 11.69% compared to Rs 690.95 crore in Q1FY26. On a QoQ basis, income decreased by 13.00% from Rs 887.00 crore in Q4FY26. Revenue from Operations: The company reported revenue of Rs 765.07 crore in Q1FY27, up 12.63% YoY from Rs 679.30 crore in Q1FY26. However, it saw a QoQ decline of 12.61% from Rs 875.43 crore in Q4FY26. Profit Before Tax: Q1FY27 Profit before tax reached Rs 70.88 crore, compared to a loss of Rs 8.00 crore in Q1FY26 and a profit of Rs 72.73 crore in Q4FY26. Net Profit: Net profit attributable to shareholders for Q1FY27 was Rs 52.58 crore, turning around from a loss of Rs 23.10 crore in Q1FY26. On a QoQ basis, profit decreased slightly by 2.56% from Rs 53.96 crore in Q4FY26. Total Comprehensive Income: Total comprehensive income for Q1FY27 was Rs 52.80 crore, compared to a loss of Rs 22.57 crore in Q1FY26 and a profit of Rs 51.46 crore in Q4FY26. Standalone Financial Highlights: Total Income: Standalone total income for Q1FY27 was Rs 741.37 crore, reflecting an 8.13% YoY growth from Rs 685.64 crore in Q1FY26. It saw a QoQ decline of 14.68% from Rs 868.91 crore in Q4FY26. Revenue from Operations: Revenue stood at Rs 735.06 crore in Q1FY27, a YoY increase of 9.06% from Rs 674.00 crore in Q1FY26 and a QoQ decrease of 14.38% from Rs 858.54 crore in Q4FY26. Net Profit: Standalone profit for Q1FY27 was Rs 51.99 crore, compared to a loss of Rs 11.21 crore in Q1FY26. QoQ profit decreased by 23.57% from Rs 68.02 crore in Q4FY26. Business Highlights: Segment-wise Performance: Freight Rail Systems: Revenue reached Rs 505.31 crore with a segment profit of Rs 61.68 crore. Passenger Rail Systems: Revenue stood at Rs 229.75 crore with a segment profit of Rs 33.69 crore. Shipbuilding & Maritime Systems (Discontinued): Revenue was Rs 30.01 crore with a segment profit of Rs 1.08 crore. Divestment of Singapore Subsidiary: Effective May 5, 2026, the company sold its entire shareholding in Titagarh Singapore Pte Ltd (TSPL) for USD 154,707 (approximately Rs 1.46 crore), and TSPL ceased to be a subsidiary. Firema Liquidation: Trasporti Ferroviari S.p.A (formerly Titagarh Firema S.p.A), an associate company in Italy, was admitted to the liquidation process on July 23, 2026. Transfer of Shipbuilding Business: The shipbuilding and maritime business was transferred to a wholly-owned subsidiary, Titagarh Naval Systems Limited, effective January 1, 2026, and is now treated as discontinued operations for the periods presented. Restatement of Results: The company restated its comparative financial information for Q1FY26 due to significant variations in the reported losses of Firema. Management Re-appointment: The Board approved the re-appointment of Shri Jagdish Prasad Chowdhary as Executive Chairman for a term of five years, effective January 8, 2026, subject to shareholder approval. Result PDF
Commercial Vehicles company Titagarh Rail Systems announced Q4FY26 & FY26 results Consolidated Financial Highlights: Revenue from Operations: For Q4FY26, revenue stood at Rs 875.43 crore, reflecting an increase of 5.21% QoQ compared to Rs 832.06 crore in Q3FY26, while registering a decline of 12.94% YoY against Rs 1,005.57 crore in Q4FY25. For the full year FY26, revenue was Rs 3,185.82 crore, a decrease of 17.63% YoY compared to Rs 3,867.75 crore in FY25. Total Income: Q4FY26 total income reached Rs 887.00 crore, up by 5.24% QoQ from Rs 842.84 crore in Q3FY26, but down by 14.33% YoY from Rs 1,035.43 crore in Q4FY25. For FY26, total income was Rs 3,234.26 crore, representing a 17.98% YoY drop from Rs 3,943.10 crore in FY25. Profit/(Loss) for the Period/Year (Net Profit): The company reported a strong turnaround in Q4FY26 with a net profit of Rs 53.50 crore, recovering from a net loss of Rs 123.86 crore in Q4FY25. On a sequential basis, it grew by 18.15% QoQ from Rs 45.28 crore in Q3FY26. For FY26, the net profit stood at Rs 122.82 crore, showing a solid growth of 41.81% YoY compared to Rs 86.61 crore in FY25. Standalone Financial Highlights: Revenue from Operations: Standalone revenue for Q4FY26 was Rs 858.54 crore, growing 4.35% QoQ from Rs 822.72 crore in Q3FY26, but declining 14.01% YoY from Rs 998.44 crore in Q4FY25. For FY26, revenue stood at Rs 3,143.58 crore, down by 16.11% YoY against Rs 3,747.38 crore in FY25. Total Income: Total income for Q4FY26 was Rs 868.91 crore, an increase of 4.26% QoQ from Rs 833.43 crore in Q3FY26, but a 15.49% YoY decrease from Rs 1,028.20 crore in Q4FY25. For FY26, total income fell by 16.53% YoY to Rs 3,190.75 crore from Rs 3,822.63 crore in FY25. Profit/(Loss) for the Period/Year (Net Profit): Standalone net profit achieved a complete turnaround, posting Rs 68.02 crore in Q4FY26 versus a net loss of Rs 147.94 crore in Q4FY25. It also marked a 45.97% QoQ surge from Rs 46.60 crore in Q3FY26. For FY26, net profit almost doubled, jumping by 95.79% YoY to Rs 150.70 crore from Rs 76.97 crore in FY25. Business Highlights: Segment-wise Performance: Freight Rail Systems: Revenue for Q4FY26 was Rs 685.21 crore, up 4.40% QoQ (from Rs 656.36 crore) but down 24.71% YoY (from Rs 910.06 crore). FY26 revenue was Rs 2,604.25 crore, decreasing by 25.42% YoY from Rs 3,491.83 crore in FY25. Passenger Rail Systems: The segment witnessed tremendous growth with Q4FY26 revenue at Rs 173.33 crore, up 4.19% QoQ (from Rs 166.36 crore) and surging 91.93% YoY (from Rs 90.31 crore). For FY26, revenue more than doubled to Rs 539.33 crore, marking a 109.46% YoY leap from Rs 257.48 crore in FY25. Shipbuilding: Segment revenue stood at Rs 16.89 crore in Q4FY26. For FY26, revenue was Rs 42.24 crore compared to Rs 118.44 crore in FY25. Dividend: The Board of Directors recommended a dividend of 50% (Re 1 per equity share of Rs 2/- each) for the financial year 2025-26, subject to shareholder approval. Exit from Italian Operations: The company marked a complete exit from its European (Italian) operations. On March 4, 2026, the business and assets of its associate, Titagarh Firema S.p.A, were transferred as a going concern to Ferrovie dello Stato Italiane S.p.A (FS Group). The Board approved the provision of its entire direct and indirect financial exposure, which was charged under exceptional items. Shipbuilding Business Transfer: Effective January 1, 2026, the Shipbuilding & Maritime Systems (SMS) business was transferred to its wholly-owned subsidiary, Titagarh Naval Systems Limited (TNSL), as a going concern on a slump sale basis. The transaction consideration of Rs 114.88 crore was discharged by TNSL via the issuance of equity shares. Divestment of Singapore Subsidiary: The company entered into a Share Purchase Agreement to sell its entire stake in its dormant subsidiary, Titagarh Singapore Pte. Ltd., for a consideration of USD 1,54,707 (equivalent to Rs 1.46 crore). Warrant Allotment: The company allotted 21,11,932 convertible warrants of Rs 947/- each on a preferential basis to the promoter group, aggregating to a total consideration of Rs 199.99 crore. Result PDF
Conference Call with Titagarh Rail Systems Management and Analysts on Q3FY26 Performance and Outlook. Listen to the full earnings transcript.
Commercial Vehicles company Titagarh Rail Systems announced Q3FY26 results Revenue from operations: Rs 832.06 crore against Rs 902.16 crore during Q3FY25, change -8%. PBT: Rs 65.15 crore against Rs 88.52 crore during Q3FY25, change -26%. PAT: Rs 48.15 crore against Rs 62.77 crore during Q3FY25, change -23%. EPS: Rs 3.58 for Q3FY26. Result PDF
Conference Call with Titagarh Rail Systems Management and Analysts on Q2FY26 Performance and Outlook. Listen to the full earnings transcript.