NDTV Profit's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer NDTV Profit's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Systematix Report
Titagarh Rail Systems Ltd.'s delivered yet another strong result in Q3 FY24, in line with our estimates. Consolidated revenue/Ebitda/profit after tax saw a strong growth of 24.6%/ 52.3%/ 129.9% YoY led by higher execution of railway wagons.
Titagarh Rail Systems achieved its highest production of 1,021 wagons in December 2023 while guiding for an average of ~700 wagons/ month till capacity expansion takes place by December 2024. Ebitda margin also improved 211 basis points led by increased margin at freight rail system and cost optimisation.
Order backlog as on December 2023 was Rs 27.5 billion (Rs 13.6 billion from FRS and Rs 13.8 billion from passenger rail systems), this is the first time that the PRS order pile up stood more than the FRS orders.
In PRS, Vande Bharat/ Passenger rail orderbook stood at Rs 7 billion/Rs 6.8 billion whereas in FRS, Freight/Wheelset(JV) total orderbook stood at Rs 7.4 billion and Rs 6.3 billion respectively.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
