This rail stock holds ₹30,000 crore in orders and 25% market share. What’s next for FY26?
While Q1FY26 results revealed a slowdown with revenue down 25 percent year-on-year and profit falling 54 percent to Rs 31 crore, the management is betting on a sharp turnaround.
- Nov 9, 2025,
- Updated Nov 9, 2025 8:08 AM IST
India’s railway wagon market is picking up serious steam. FY25 closed with a record 41,929 wagons produced, up from 37,650 in the previous year, as government spending and freight demand fuel rapid expansion. With the industry expected to double to Rs 30,000 crore by 2031, Titagarh Rail Systems is racing to lead the charge.
Titagarh Rail Systems Limited, valued at Rs 11,417 crore, ended the day slightly lower at Rs 847 per share despite clinching a massive Rs 2,481 crore order for Mumbai Metro Line 5. The contract covers everything from design and manufacturing to installation and five years of maintenance, reflecting the company’s growing presence in metro rail infrastructure.
While Q1FY26 results revealed a slowdown with revenue down 25 percent year-on-year and profit falling 54 percent to Rs 31 crore, the management is betting on a sharp turnaround. A robust Rs 30,000 crore order book and a long-term maintenance contract support that outlook.
The company plans to deliver 120 metro coaches this year, scaling up to 250 by FY28. Production of wheelsets, a key supply chain component, is set to begin by Q4FY26, resolving a critical bottleneck.
Titagarh is also positioning for the government’s target of moving 3 billion tonnes of freight annually by 2030. Fresh tenders are expected as early as Q4FY26, potentially opening up new revenue streams.
With six manufacturing hubs, an annual capacity of 12,000 wagons and 300 coaches, and a debt-free balance sheet, Titagarh holds a dominant 25 percent share in India’s wagon sector. A joint venture order book worth over Rs 13,000 crore further strengthens its footing.
As the railway sector surges on the back of capex and export momentum, Titagarh Rail Systems looks primed to ride the next big wave.
India’s railway wagon market is picking up serious steam. FY25 closed with a record 41,929 wagons produced, up from 37,650 in the previous year, as government spending and freight demand fuel rapid expansion. With the industry expected to double to Rs 30,000 crore by 2031, Titagarh Rail Systems is racing to lead the charge.
Titagarh Rail Systems Limited, valued at Rs 11,417 crore, ended the day slightly lower at Rs 847 per share despite clinching a massive Rs 2,481 crore order for Mumbai Metro Line 5. The contract covers everything from design and manufacturing to installation and five years of maintenance, reflecting the company’s growing presence in metro rail infrastructure.
While Q1FY26 results revealed a slowdown with revenue down 25 percent year-on-year and profit falling 54 percent to Rs 31 crore, the management is betting on a sharp turnaround. A robust Rs 30,000 crore order book and a long-term maintenance contract support that outlook.
The company plans to deliver 120 metro coaches this year, scaling up to 250 by FY28. Production of wheelsets, a key supply chain component, is set to begin by Q4FY26, resolving a critical bottleneck.
Titagarh is also positioning for the government’s target of moving 3 billion tonnes of freight annually by 2030. Fresh tenders are expected as early as Q4FY26, potentially opening up new revenue streams.
With six manufacturing hubs, an annual capacity of 12,000 wagons and 300 coaches, and a debt-free balance sheet, Titagarh holds a dominant 25 percent share in India’s wagon sector. A joint venture order book worth over Rs 13,000 crore further strengthens its footing.
As the railway sector surges on the back of capex and export momentum, Titagarh Rail Systems looks primed to ride the next big wave.