Standalone Financial Results (₹ in Crores)
Quarter Ended September 30, 2026:
- Revenue from Operations: ₹788.32
- Other Income: ₹14.45
- Total Income: ₹802.77
- Total Expenses: ₹730.10
- Profit before Exceptional Items and Tax: ₹72.67
- Exceptional Items: ₹0 (Refer Note 3)
- Profit before Tax: ₹72.67
- Total Income Tax Expense: ₹20.82
- Profit for the Period from continuing operations: ₹51.85
- Loss from discontinued operations: ₹(4.56)
- Profit for the Period: ₹47.29
- Earnings per Equity Share (Basic) from continuing operations: ₹3.85
- Earnings per Equity Share (Basic) from discontinued operations: ₹(0.34)
- Earnings per Equity Share (Basic) total: ₹3.51
Half Year Ended September 30, 2026:
- Revenue from Operations: ₹1,507.87
- Other Income: ₹12.99
- Total Income: ₹1,520.86
- Total Expenses: ₹1,368.17
- Profit before Exceptional Items and Tax: ₹152.69
- Exceptional Items: ₹0
- Profit before Tax: ₹152.69
- Total Income Tax Expense: ₹37.26
- Profit for the Period from continuing operations: ₹115.43
- Loss from discontinued operations: ₹0
- Profit for the Period: ₹115.43
- Earnings per Equity Share (Basic) from continuing operations: ₹8.57
- Earnings per Equity Share (Basic) from discontinued operations: ₹0
- Earnings per Equity Share (Basic) total: ₹8.57
Consolidated Financial Results (₹ in Crores)
Quarter Ended September 30, 2026:
- Revenue from Operations: ₹792.56
- Other Income: ₹7.21
- Total Income: ₹799.77
- Total Expenses: ₹717.10
- Profit before Share of Loss of Joint Ventures and Associates, Exceptional Items and Tax: ₹82.67
- Share of Loss of Joint Ventures: ₹(0.66)
- Profit before Exceptional Items and Tax: ₹82.01
- Exceptional Items: ₹0
- Profit before Tax: ₹82.01
- Total Tax Expense: ₹18.81
- Profit for the Period from continuing operations: ₹63.20
- Loss from discontinued operations: ₹(0.02)
- Profit for the Period: ₹63.20
- Earnings per Equity Share (Basic) from continuing operations: ₹4.69
- Earnings per Equity Share (Basic) from discontinued operations: ₹0
- Earnings per Equity Share (Basic) total: ₹4.69
Half Year Ended September 30, 2026:
- Revenue from Operations: ₹1,557.63
- Other Income: ₹13.85
- Total Income: ₹1,571.48
- Total Expenses: ₹1,417.35
- Profit before Share of Loss of Joint Ventures and Associates, Exceptional Items and Tax: ₹154.13
- Share of Loss of Joint Ventures: ₹(1.24)
- Profit before Exceptional Items and Tax: ₹152.89
- Exceptional Items: ₹0
- Profit before Tax: ₹152.89
- Total Tax Expense: ₹37.09
- Profit for the Period from continuing operations: ₹115.80
- Loss from discontinued operations: ₹(0.02)
- Profit for the Period: ₹115.78
- Earnings per Equity Share (Basic) from continuing operations: ₹8.60
- Earnings per Equity Share (Basic) from discontinued operations: ₹(0.00)
- Earnings per Equity Share (Basic) total: ₹8.60
Segment Performance (Standalone)
Half Year Ended September 30, 2026:
- Freight Rail Systems Revenue: ₹977.94 crore
- Passenger Rail Systems Revenue: ₹529.93 crore
- Total Revenue: ₹1,507.87 crore
Segment Results:
- Freight Rail Systems Profit: ₹113.63 crore
- Passenger Rail Systems Profit: ₹83.98 crore
- Total Segment Profit: ₹197.61 crore
Balance Sheet Highlights (Standalone as of September 30, 2026)
- Total Assets: ₹4,322.76 crore
- Non-current Assets: ₹2,182.10 crore
- Current Assets: ₹2,140.66 crore
- Total Equity: ₹2,600.55 crore
- Non-current Liabilities: ₹519.67 crore
- Current Liabilities: ₹1,202.54 crore
Cash Flow Highlights (Standalone H1 FY27)
- Cash Generated from Operations: ₹120.71 crore
- Income Taxes Paid: ₹(4.15) crore
- Net Cash from Operating Activities: ₹125.56 crore
- Net Cash Used in Investing Activities: ₹(289.43) crore
- Net Cash from Financing Activities: ₹207.42 crore
- Net Increase in Cash: ₹69.17 crore
Key Notes and Restatements
1. Note 4: Prior period comparative financial information has been restated by correcting certain prior period errors in accordance with Ind AS 8. The restatement primarily relates to significant variation in the reported loss of Transporti Ferroviari S.p.A (formerly Titagarh Firema S.p.A) as per statutory audited financial statements.
2. Note 5: Discontinued operations for earlier periods pertain to the shipbuilding and maritime business which was transferred to wholly owned subsidiary Titagarh Naval Systems Limited effective January 1, 2026.
3. Exceptional Items: For H1 FY26 (restated), exceptional items of ₹53.96 crore were recorded relating to provision towards loans and receivables (company's exposure in Transporti Ferroviari S.p.A).
4. Subsidiary Changes: Titagarh Singapore Pte Ltd ceased to be a wholly owned subsidiary effective May 5, 2026, after sale of entire shareholding.
5. Associate Company: Transporti Ferroviari S.p.A (formerly Titagarh Firema S.p.A) was admitted to liquidation process on July 23, 2026, and the company ceased to exercise significant influence effective that date.