Board Meeting Details

The Board of Directors meeting was held on August 12, 2026, commencing at 1:00 PM and concluding at 6:30 PM.

Key Decisions Approved

1. Financial Results Approval

The Board approved the Unaudited Financial Results (Standalone and Consolidated) for the quarter ended June 30, 2026, along with Limited Review Report of the Auditors.

2. Executive Reappointment

The Board approved re-appointment of Shri. Jagdish Prasad Chowdhary (DIN: 00313685) as Executive Chairman of the Company for a term of five years, effective January 8, 2026, subject to shareholders' approval at the ensuing Annual General Meeting.

Standalone Financial Results (Rs. in Crores)

Quarterly Performance Comparison

| Particulars | June 30, 2026 | March 31, 2026 | June 30, 2025 |

| Revenue from Operations | 735.06 | 858.54 | 674.00 |

| Other Income | 6.31 | 10.37 | 11.64 |

| Total Income | 741.37 | 868.91 | 685.64 |

| Total Expenses | 670.99 | 785.61 | 626.44 |

| Profit before Exceptional Items and Tax | 70.38 | 83.30 | 59.20 |

| Exceptional Items | 0.00 | (7.20) | 53.96 |

| Profit before Tax | 70.38 | 90.50 | 5.24 |

| Tax Expense | 18.39 | 22.48 | 14.34 |

| Profit for the Period | 51.99 | 68.02 | (11.21) |

| Total Comprehensive Income | 52.24 | 67.80 | (11.33) |

| Basic EPS (Rs.) | 3.80 | 5.05 | (0.84) |

| Diluted EPS (Rs.) | 3.80 | 5.05 | (0.84) |

Segment-wise Performance (Q1 FY27)

  • Freight Rail Systems: Revenue ₹505.31 crore, Segment Profit ₹61.68 crore
  • Passenger Rail Systems: Revenue ₹229.75 crore, Segment Profit ₹33.69 crore
  • Total Segment Assets: ₹4,102.47 crore
  • Total Segment Liabilities: ₹1,566.46 crore

Exceptional Items

For Q1 FY27: No exceptional items (₹0.00 crore)

For Q4 FY26: Reversal of provision for diminution in value of investment in Titagarh Singapore PTE Limited (₹7.20 crore)

For Q1 FY25: Provision towards loans and receivables (Company's exposure in Transporti Ferroviari S.p.A) (₹53.96 crore)

Prior Period Restatement

The Company restated comparative financial information for period/year ended March 31, 2026 due to significant variation in the reported loss of Firema as per statutory audited financial statements for year ended March 31, 2025 versus management accounts used for consolidation.

Effect of restatement for quarter ended June 30, 2025:

  • Exceptional Items: ₹53.96 crore
  • Profit Before Tax: ₹59.20 crore reduced to ₹5.24 crore
  • Profit After Tax: ₹31.49 crore reduced to (₹22.47) crore

Corporate Actions

Titagarh Singapore Pte Ltd Sale

Pursuant to Share Purchase Agreement executed on March 27, 2026, the Company sold its entire shareholding in Titagarh Singapore Pte Ltd (wholly owned subsidiary) for USD 154,707 (equivalent to ₹14.6 crores). TSPL ceased to be a wholly owned subsidiary effective May 5, 2026 after completion of local statutory compliances in Singapore.

Discontinued Operations

Shipbuilding & Maritime Systems business was transferred to wholly owned subsidiary company, Titagarh Naval Systems Limited, effective January 1, 2026. Discontinued operations for previous periods presented pertain to this business.

Consolidated Financial Results (Rs. in Crores)

Quarterly Performance Comparison

| Particulars | June 30, 2026 | March 31, 2026 | June 30, 2025 |

| Revenue from Operations | 765.07 | 875.43 | 679.30 |

| Profit before Share of Loss, Exceptional Items and Tax | 71.48 | 80.93 | 56.99 |

| Share of Profit/(Loss) of Joint Ventures and Associates | (0.58) | (4.99) | (11.03) |

| Profit before Exceptional Items and Tax | 70.88 | 72.73 | 45.96 |

| Exceptional Items | 0.00 | 0.00 | 53.96 |

| Profit/(Loss) before Tax | 70.88 | 72.73 | (8.00) |

| Tax Expense | 18.28 | 21.47 | 14.47 |

| Profit/(Loss) for the Period | 52.58 | 53.50 | (23.02) |

| Basic EPS (Rs.) | 3.84 | 3.97 | (1.71) |

| Diluted EPS (Rs.) | 3.84 | 3.97 | (1.71) |

Consolidated Entities

Includes results of:

  • Titagarh Rail Systems Limited (Holding Company)
  • Titagarh Singapore Pte Ltd (up to May 5, 2026)
  • Titagarh Firema Engineering Services Private Limited
  • Titagarh Naval Systems Limited
  • Group Foundation
  • Joint Ventures: Titagarh Mermec Private Limited, Ramkrishna Titagarh Rail Wheels Limited, Shivaliks Mercantile Limited
  • Associate: Trasporti Ferroviari S.p.A (formerly Titagarh Firema S.p.A)

Auditor Review

Price Waterhouse & Co Chartered Accountants LLP and Salarpuria & Partners jointly reviewed the financial results and issued an unmodified conclusion, noting nothing came to their attention causing belief that the statements contain material misstatement.