ALFA Finder
The call ran from 4:01 PM to 4:47 PM IST (46 min).
Key takeaways
Q2 FY27 metro execution improved and wagon visibility was restored via the option order, but no revenue or profit was disclosed. Management hedged on timelines, withheld project-level figures, and deflected margin and tender questions.
| Revenue growth | Revenue figure not disclosed; PRS record quarterly revenue, ~30% of total. |
|---|---|
| Margins | No margin figures; propulsion backward integration to lift margins later. |
| Order book | ~₹28,600 Cr incl JVs (transcript ambiguous); ~70% passenger rail. |
| Demand visibility | Wagon option order gives 3-4 quarters visibility; metro pipeline unquantified. |
| Management confidence | Balanced-to-optimistic; heavy hedging ('endeavour', 'close to', 'expect'). |
Growth
Q2 metro invoicing 51 vs 30 in Q1; H1 ~81 already exceeds FY26's 63. No revenue or profit growth disclosed.
Outlook
Targets ~275 metro coaches FY28 and ~200 metro coaches FY27 (endeavour); 1,000 wagons/month by Q4 FY27.
Risks
FY26 missed 100-coach target (delivered 63); Vande Bharat prototype timing unquantified; Line 6 delay blamed on chip shortages.
Summary by ALFA Finder, written with AI assistance from our own recording of the call, published . Open it on ALFA Filings ›
The results behind this call
Titagarh Rail Systems Q2 FY27 Results: Net Profit ₹63.2 Cr, Up 49.1% YoY
Titagarh Rail Systems Ltd reported revenue from operations of ₹792.6 Cr (-0.8% YoY) and net profit of ₹63.2 Cr (+49.1% YoY) for Q2 FY27.
- Key figure
- Net profit ₹63.2 Cr · +49.1% YoY
What management said last time
Full summary →From the call summary published .
Outlook they gave
Targeting 45-50 coaches/quarter in FY27; total standalone order book at INR 13,335 Cr; total including JV INR 26,635 Cr.
Growth they described
PRS revenue grew ~400% YoY to INR 230 Cr. Wagon dispatches were muted at 1,284 units due to order visibility.
Call details
| Company | Titagarh Rail Systems Ltd |
|---|---|
| NSE symbol | TITAGARH |
| ISIN | INE615H01020 |
| Call | Q2 FY27 earnings call |
| Date | Friday, 13 November 2026 |
| Time | 4:00 PM IST |
| Length | 46 min |
| Audio | Our stream on YouTube ↗ |
Titagarh Rail Systems Ltd: key numbers
- Share price
- ₹737.15
- Market cap
- ₹9,927 Cr
- Revenue (annual)
- ₹3,186 Cr
- Net profit (annual)
- ₹122.8 Cr
- P/E (TTM)
- 45.7×Sector 33.1×
- Promoter holding
- 40.46%+0.00% QoQ
- FII holding
- 11.39%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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