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Titagarh Rail Q4 Results Review: Weak FRS, Margin Contraction Disappoints; Systematix Downgrades To 'Hold'
Systematix downgrades the stock to Hold with a revised target price of Rs 941/share.
03 Jun 2025, 02:05 PM IST 
Titagarh Rail Systems currently has a total orderbook of 11,500 wagons and 1,583 Metro and Vande Bharat coaches, of this about Rs 12 billion order came in FY25.
(Photo Source: Titagarh Rail Systems website)
In the last six-nine months, the industry has faced many challenges including wheelset supply issues and delay in fresh orders. Titagarh Rail Systems expects passenger cars manufacturing capacity to reach 20 cars/month in FY26 and 40 cars/month in FY27. However, due to increased contribution from low margin PRS, the company’s margin profile would remain under pressure.
