Titagarh Rail Systems Ltd · NSE:TITAGARH
Titagarh Rail Systems — Q3 FY26 Earnings Presentation
25 slides from Titagarh Rail Systems's earnings presentation, Feb 16, 2026
Slide 1: Stock exchange announcement under Regulation 30
16th February 2026 BSE Limited (BSE) National Stock Exchange of India Limited The Department of Corporate Services (NSE) Phiroze Jeejeebhoy Towers The Listing Compliance Department Dalal Street, Mumbai – 400 001 Exchange Plaza Bandra-Kurla Complex Scrip Code: 532966 Bandra (E), Mumbai – 400 051 Symb
Slide 2: Investor Presentation Q3 & 9M FY26
INVESTOR PRESENTATION Q3 & 9M FY26
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Titagarh Rail Systems Limited (TRSL, the “Company’), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe f
Slide 4: Pioneering Innovation & Precision Engineering for Unparalleled Rail Systems
Pioneering Innovation & Precision Engineering for Unparalleled Rail Systems Titagarh Rail Systems Limited: About the 01 Company 02 Railway Budget 2026–27 03 Q3 & 9M FY26 Operational & Business Update 04 Strong Order Book Position 05 Major Updates 06 Business Segments 3
Slide 5: About the Company
About the Company
Slide 6: Titagarh Rail Systems Limited: An Overview
Titagarh Rail Systems Limited: An Overview TRSL continues to be a Net Debt negative company 12,000Wagons per year 1997 4 300 Coaches per year Year of Establishment Manufacturing Facilities Manufacturing Capacity ~14,455 Cr- Company Only Indian Company ~25% ~13,300 Cr- Share from JV Manufacturing bot
Slide 7: Titagarh Wagons to Titagarh Rail Systems
Titagarh Wagons to Titagarh Rail Systems 1997 2007 2015 2019 2022 2023 2023 2024 2025 Wagon EMU/MEMU for Acquisition of Pune Metro – First Bangalore Metro Surat & Vande Bharat Design Centers in LOA received for Manufacturing Indian Railways Firema SpA, Italy, & Only (Steel bodied Ahmedabad Sleeper t
Slide 8: Manufacturing Facilities & Engineering Center
Manufacturing Facilities & Engineering Center 1 Kolkata (India) Titagarh Rail Systems Limited Passenger Rail Systems Unit 2 Kolkata (India) Titagarh Rail Systems Limited Freight Rail Systems Unit Titagarh Rail Systems 3 Limited Steel Casting Unit (FRS) FRS Manufacturing facility PRS Manufacturing fa
Slide 9: Railway Budget 2026–27: Key Highlights & Strategic Alignment with TRSL
Railway Budget 2026–27: Key Highlights & Strategic Alignment with TRSL
Slide 10: Union Budget 2026–27: Record Capital Outlay & Rail Modernisation
Union Budget 2026–27: Record Capital Outlay & Rail Modernisation Railway development has received a major boost under the Union Budget 2026–27, Avg. Budget Avg. Budget Growth State with record state allocations aimed at strengthening connectivity, enhancing 2009–14 2026–27 Multiple passenger safety,
Slide 11: Strategic Growth Levers for Titagarh Rail Systems
Strategic Growth Levers for Titagarh Rail Systems Rolling Stock Demand Surge Specialized Terrain Solutions • Supply of high-speed passenger coaches, EMUs, and metro cars across • Rolling stock for Himalayan and NE projects (Rishikesh–Karnaprayag, Uri new corridors (Delhi–Varanasi, Chennai–Bengaluru,
Slide 12: Q3 & 9M FY26 Operational & Business Update
Q3 & 9M FY26 Operational & Business Update
Slide 13: Strong Order Book Position
Strong Order Book Position Sr. Contribution to Orderbook Contribution to Business Unit No. (Amount) Orderbook (%) 1 Freight Rail Systems ~3,126 Crores 22.40% 2 Passenger Rail Systems ~10,791 Crores 77.33% 3 Defence and Bridges BU ~38 Crores 0.27% A TOTAL ~13,955 Crores 100% Shipbuilding and Maritime
Slide 14: Passenger Rail Segment – the Growth Engine
Passenger Rail Segment – the Growth Engine The Passenger Rail Systems (PRS) segment represents the future growth engine of Titagarh Rail Systems Limited. With a dominant contribution to the current order book (~77%), PRS clearly reflects the Company’s strategic significant tectonic shift from a pred
Slide 15: Key Financial Highlights
Key Financial Highlights • Revenue for Operation for Q3 FY26 stood at Rs. 822.72 Crores, up 4.36 % Q-o-Q • EBITDA for Q3 FY26 at Rs. 99.02 Crores, up by 11.62% Q-o-Q • EBITDA Margin for Q3 FY26 12.04% as compared to 11.25% in Q2 FY26 • PAT for Q3 FY26 at Rs. 55.72 Crores, up by 17.83% Q-o-Q • PRS re
Slide 16: Major Updates
Major Updates • The Company has received approval from the Ministry of Railways, Government of India, through the Railway Board, for registration as a Wagon Leasing Company (WLC) under the Wagon Leasing Scheme (WLS) of Indian Railways on 10th February 2026. Pursuant to the said approval, the Company
Slide 17: Key Milestone
Key Milestone Milestone moments from the launch of Titagarh’s first indigenously built stainless steel driverless “Made in India” trainset for Ahmedabad at its Uttarpara facility. Unveiled in the presence of Shri Bhupendrabhai Patel, Hon’ble Chief Minister of Gujarat, and Mr. Umesh Chowdhary, Vice C
Slide 18: Opportunity in Pipeline – Metro Projects
Opportunity in Pipeline – Metro Projects • Currently, 23 cities in the country have operational metro/rapid transit systems with a target to reach 50 cities in the next few years. • Major ongoing metro projects sanctioned by the Government • Mumbai Line 7A & 11 • Chennai Metro Phase 2 • Patna Metro
Slide 19: Opportunity in Pipeline – MRVC Tender
Opportunity in Pipeline – MRVC Tender Indian Railways Tender – 2,856 Vande Metro Cars (MUTP-III & 3A) Mumbai Railway Vikas Corporation Ltd. (MRVC), under Indian Railways, has floated a landmark tender for: “Procurement-cum-Maintenance of 2,856 Cars in configuration of 12/15/18-Car Air-Conditioned Va
Slide 20: Update on Rail Wheel Project
Update on Rail Wheel Project • Titagarh Rail Systems & Ramkrishna Forgings Consortium received an LOA for Manufacturing and Supplying of Forged Wheels for the Indian Railways. • The Company holds 49 % stake in the Joint Venture. • The JV will establish Asia’s 2nd largest manufacturing plant in India
Slide 21: Q3 & 9M FY26 Standalone Profit & Loss Statement
Q3 & 9M FY26 Standalone Profit & Loss Statement Particulars (in INR Crs) Q3 FY26 Q3 FY25 Y-o-Y Q2 FY26 Q-o-Q 9M FY26 9M FY25 Y-o-Y Revenue from Operations 822.72 871.73 -5.62% 788.32 4.36% 2285.04 2748.94 -16.88% Cost of Materials Consumed 635.11 675.10 -5.92% 559.47 13.52% 1694.20 2100.96 -19.36% C
Slide 22: Q3 & 9M FY26 Segmental Performance
Q3 & 9M FY26 Segmental Performance Nos. in Rs. Cr. unless otherwise mentioned Q3 y-o-y Q2 q-o-q 9M y-o-y Particulars FY26 FY25 Growth (%) FY26 Growth (%) FY26 FY25 Growth (%) Revenue 822.72 871.73 -5.62% 788.32 4.36% 2285.04 2748.94 -16.88% EBITDA 99.02 99.75 -0.73% 88.71 11.83% 264.83 336.07 -21.20
Slide 23: Q3 & 9M FY26 – Quantitative Summary
Q3 & 9M FY26 – Quantitative Summary Freight Rail Systems Passenger Rail Systems 6,976 39 5,270 6 2,233 12 628 1,872 1,770 3 460 234 197 18 94 Q3 FY25 Q2 FY26 Q3 FY26 9M FY25 9M FY26 Q3 FY25 Q2 FY26 Q3 FY26 9M FY25 9M FY26 Wagons sold during the period Dispatch of Metro Coaches Sale of Traction Motor
Slide 24: Access the full presentation: Click Here
Additional information is available in the Strategic Plan and Business Outlook presentation uploaded on the exchange. Access the full presentation: Click Here 23
Slide 25: Thank You
Thank You Company : Investor Relations Advisors : MUFG Intime India Private Limited Name: Parth Patel / Prachi Ambre Name: Mr. Aditya Purohit parth.patel@in.mpms.mufg.com Email: parth.patel@in.mpms.mufg.com Email: aditya.purohit@titagarh.in prachi.ambre@in.mpms.mufg.com www.titagarh.in prachi.ambre@
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