Titagarh Share Price — Buy, Sell Or Hold?: Multibagger Stock Zooms 2,600% In Five Years, But Declines 20% YTD
After sharp correction, Titagarh Rail banks on orders and capacity to regain momentum.
After a meteoric rise over five years, Titagarh Rail Systems Ltd. has slipped nearly 19% this year. But analysts still see some upside in the stock.
The company has delivered a return of 2,690.47% over the past five years. Titagarh Rail, which listed at around Rs 540 in 2008, is now trading above Rs 900. However, in 2025 so far, the stock is down 18.64%.
As per Bloomberg data, eight out of nine analysts tracking Titagarh have a ‘buy’ rating on the stock, while one recommends a ‘hold’. The consensus 12-month target price is Rs 1,123.83, implying a potential upside of 25.4% from current levels.
Titagarh Rail, formerly known as Titagarh Wagons, is preparing to ramp up its annual production capacity to 12,000 wagons. “Our internal capabilities are fully geared up to produce 12,000 wagons per annum. In financial year 2026, we expect to achieve a run rate of 900 to 1,000 wagons per month,” Deputy Managing Director Prithish Chowdhary told NDTV Profit.
He added that the company is aiming for an Ebitda margin of 12% to 13% in the freight business, while stabilising margins in its passenger division at 9% to 10%. Expansion toward 15% will come through backward integration, particularly in propulsion systems for metros.
According to its latest investor update, the company received more than Rs 1,200 crore worth of orders in financial year 2025, including about Rs 900 crore for freight rolling stock and Rs 303 crore for propulsion systems. As of March 2025, the order book includes approximately 11,500 wagons and 1,583 Metro and Vande Bharat coaches.
In the March quarter, the company reported a 12.41% year-on-year increase in wagon production. Quarterly output hit a record 7,632 metric tonnes, with full-year production at around 27,240 metric tonnes. However, wagon deliveries to Indian Railways were impacted due to inadequate wheelset supply from the Rail Wheel Factory, leading to a delivery extension.
Production for the Bangalore Metro is currently underway, while other projects such as Surat, Ahmedabad, and Vande Bharat remain in the design phase. The company has ramped up traction motor production to 100 units per month, which is expected to support upcoming revenue growth.
