Company type | Public |
---|---|
BSE: 532966 NSE: TWL | |
ISIN | INE615H01020 |
Industry | Railways Defense Shipbuilding Mining |
Founded | 1984 [1] |
Founder | Jagadish Prasad Chowdhary |
Headquarters | Titagarh Towers 756, Anandapur, E.M. Bypass, , India [2] |
Area served | Worldwide |
Key people | |
Products |
|
Production output | 8,000 wagons [6] (2020) |
Revenue | ₹2,822.17 crore (US$350 million) (2023) [7] |
₹130.20 crore (US$16 million) (2023) [7] | |
Total assets | ₹2,678.90 crore (US$340 million) (2022) [3] |
Total equity | ₹842.27 crore (US$110 million) (2022) [3] |
Owners | Chowdhary family (47.05%) [8] |
Number of employees | 453 [9] (31 March 2021) |
Subsidiaries |
|
Website | titagarh |
Titagarh Rail Systems Limited, formerly known as Titagarh Wagons Limited, is an Indian rolling stock manufacturer in the private sector. Established in 1984 as a rolling stock foundry unit, the company's headquarters are situated in Kolkata, West Bengal. [11] Titagarh is publicly traded on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). [12] [13]
In 1997, the founder decided to add a bit more value to his propositions. He ventured into making entire wagons that would be used for freight, before that it used to manufacture railway components. The core operations of the company encompass providing freight wagons, semi high-speed trains, metros, transit and propulsion systems, and passenger coaches for the Indian Railways and for the export markets as well. In addition to the design, manufacture & supply of 102 Metro Coaches for Pune Metro and the largest ever order for procurement of 24177 Wagons which are under execution, the Company has been awarded prestigious orders by the Indian Railways for the manufacture and maintenance of Vande Bharat Trains and Wheels for the same under the Atma Nirbhar and Make in India initiatives of the Government of India and is a significant enabler for railway infrastructure of the country. Beyond its substantial engagement in the railway sector, Titagarh holds business interests in shipbuilding, bridges, and defense . [14] [15] [16]
The founder of Titagarh Rail Systems, Shri. Jagadish Prasad Chowdhary, commenced his professional journey as an account assistant at a tea estate in Darjeeling, West Bengal. Subsequently, he relocated to Calcutta (now Kolkata) and assumed the role of an accountant at a steel casting company that supplied materials to the Indian Railways. Mr. Chowdhary eventually assumed the position of Chief Executive Officer (CEO) of the steel castings company.
In the year 1982, Mr. Chowdhary as an entrepreneur acquired the defunct foundry division of the government-owned Britannia Engineering then under liquidation, situated in Titagarh, Barrackpore, West Bengal. Renaming the enterprise as Titagarh Steels Limited (TSL), he commenced production of railway casting components, specifically bogies and couplers & crossings and turned around the operations of the Foundry in a record time. In 1994, Mr. Chowdhary was invited to present a rehabilitation plan for the two Paper Mills of the then sick Titagarh Paper Mills Company Limited which were vested in TSL by a Scheme of Rehabilitation by the Board for Industrial and Financial Reconstruction (BIFR). Subsequently these Paper Mills were demerged into two separate companies through a Scheme of Arrangement sanctioned by the Hon’ble High Court, Calcutta. [6]
Chowdhary founded Titagarh Wagons Limited on 3 July 1997 to manufacture railway wagons. [6] [17] The company started out with an annual production capacity of 180 wagons. [6]
In July 2010, Titagarh Wagons purchased the French rail wagon maker Arbel Fauvet Rail (AFR) for EUR 15 million (first overseas acquisition), which had gone into receivership in February 2009. [18] [19] Titagarh Wagons turned around AFR and with the subsidiary's revenue rising from ₹9.95 crore (US$1.2 million) in 2010-11 to ₹163.51 crore (US$20 million) in 2011-12, and the employee headcount almost doubling from 85 to 150. [20] A French commercial court ordered the liquidation of AFR in July 2019. The next month, Titagarh announced that it would exit from AFR. Vice-Chairman and Managing Director, Umesh Chowdhary, stated that AFR had been making losses of 4-5 million euros a year for the past three years due to general economic factors, and would have required more capital to reach profitability. Titagarh Wagons had invested ₹100 crore (US$13 million) in AFR since acquiring the company. [21]
Titagarh Wagons acquired Corporated Shipyard in 2012 and merged it in Titagarh Marines to manufacture ships for the Indian Navy. Corporated Shipyard won its first defence contract in 2017. [22] [23]
In 2015, Titagarh Wagons acquired the brand name and know-how of French cast steel bogie manufacturer Sambre et Meuse. [24] On 16 July 2015, Titagarh acquired a 90% stake in Italian rail equipment firm Firema Trasporti for an estimated € 25 million. The remaining 10% stake was held by Italian company Adler Plastics SpA. [25] [26] In June 2017, Titagarh announced that it had acquired the 10% stake from Adler Plastics for an undisclosed amount. [27] [28] The company was subsequently renamed as Titagarh Firema SpA. Titagarh Firema designs metro rail coaches and manufactures them at its factories at Caserta, Spello and Tito. [29]
In May 2016, Titagarh Wagons formed a 50/50 joint venture with French Matiere SAS to manufacture metallic and modular bridges. [30] [31] Titagarh Wagons acquired Matiere's stake in July 2020, making it a wholly-owned subsidiary. [32] [33]
In 2019, Titagarh Firema was awarded the contract to supply 102 aluminium bodied metro rail coaches for the Pune Metro by Maha Metro. [34] While 3 of the total 34 rakes would be manufactured at the Firema plant in Italy, the remaining 31 trainsets would be manufactured at TWL's facility in Uttarpara. [35]
In April 2021, the company secured a ₹3.5 billion contract to supply rolling stock for the Ahmedabad Metro. [36]
In February 2024, the company secured a ₹170 crore (US$20 million) contract for supplying 250 specialized wagons to the Ministry of Defence. [37]
In March 2024, the company secured a ₹1909.04 crore contract for supplying 4463 BOSM Wagons to the Ministry of Railways. [38]
Titagarh Rail Systems Limited reported a total income of Rs.2822.17 crores during the financial year ended March 31, 2023 as compared to Rs.1485.23 crores during the financial year ended March 31, 2022. The company posted a net profit of Rs.130.20 crores for the financial year ended March 31, 2023 as against a loss of Rs.0.32 crores for the financial year ended March 31, 2022. [39] [3]
Former subsidiaries
Rail transport in India consists of primarily of passenger and freight shipments along an integrated rail network. Indian Railways (IR), a statutory body under the ownership of the Ministry of Railways of the Government of India, operates India's national railway system. It is the primary owner and operator of rail operations throughout the country including suburban rail in major metros.
Indian Railways (IR) is a statutory body under the ownership of the Ministry of Railways of the Government of India that operates India's national railway system. As of 2023, it manages the fourth largest national railway system by size with a running track length of 104,647 km (65,025 mi) and route length of 68,426 km (42,518 mi) of which 60,451 km (37,563 mi) is electrified. With more than 1.2 million employees, it is the world's ninth-largest employer and India's second largest employer.
Bharat Heavy Electricals Limited (BHEL) is an Indian central public sector undertaking and the largest government-owned power generation equipment manufacturer. It is owned by the Government of India, with administrative control by the Ministry of Heavy Industries. Established in 1956 with the help of Soviet technology, BHEL is based in New Delhi.
CRRC Corporation Limited is a Chinese state-owned and publicly traded rolling stock manufacturer. It is the world's largest rolling stock manufacturer in terms of revenue, eclipsing its major competitors of Alstom and Siemens.
Integral Coach Factory is an Indian manufacturer of rail coaches. Established in 1955, it is located in Perambur in Chennai and is the largest rail coach manufacturer in the world. It is owned and operated by the Indian Railways and is the oldest amongst the five rake production units of the Indian Railways. While the facility initially manufactured ICF coaches, it currently manufactures LHB coaches and electric multiple units including the semi-high speed Vande Bharat train-sets.
BEML Limited, formerly Bharat Earth Movers Limited, is an Indian public sector undertaking which manufactures a variety of heavy equipment, such as that used for earth moving, railways, transport and mining. It is headquartered in Bangalore. BEML is Asia's second-largest manufacturer of earth moving equipment. Its stock trades on the National Stock Exchange of India under the symbol "BEML", and on the Bombay Stock Exchange under the code "500048".
The Rail Coach Factory at Kapurthala is a coach manufacturing unit of the Indian Railways in the Indian state of Punjab. It was set up in the year 1985 with an investment of ₹423 crore (US$53 million) in order to enhance production capacity for India's railways and generate employment for the youth of the state. The unit is located on the Jalandhar-Firozpur railway line, and currently, has the job of manufacturing new LHB and MEMU coaches.
Rail Vikas Nigam Limited (RVNL) is an Indian central public sector enterprise which works as the construction arm of the Ministry of Railways for project implementation and transportation infrastructure development. It was incorporated in 2003 to meet the country's surging infrastructural requirements and to implement projects on a fast-track basis as well as for creating a Railway equipment construction company. It is a ‘Navratna’ CPSE in India under the administrative control of the Indian Ministry of Railways.
Arbel Fauvet Rail (AFR) is a railway rolling stock manufacturer based in Douai, France. In 2010 the company was acquired by Titagarh Wagons and renamed AFR Titagarh.
The rolling stock of Kolkata Metro, India consists of five classes, three classes for Line 1 and two classes for Line 2.
Ahmedabad Metro is a rapid transit system for the cities of Ahmedabad and Gandhinagar in Gujarat state of India.
Urban rail transit in India plays an important role in intracity transportation in the major cities which are highly populated. It consists of rapid transit, suburban rail, monorail, and tram systems.
Line 1 of the Navi Mumbai Metro is part of the rapid transit rail system for the city of Navi Mumbai, India. When fully completed, the 23.40 km fully-elevated line will consist of 20 metro stations from Belapur to Khandeshwar.
The Electric Locomotive Factory, Madhepura is a joint venture of Alstom SA of France with Indian Railways for the production of 800 high-power locomotives over a period of 11 years designed to run on Indian tracks at 120 km/h (75 mph). The manufacturing has started on 11 October 2017.
The Vande Bharat sleeper trainset, formerly known as Train-20 is an under development High-speed, long-distance electric multiple unit (EMU) train designed to replace the Rajdhani Express. It is being developed based on existing short-distance Vande Bharat, differing in exterior body, sleeping berths, and onboard amenities due to its long-distance service.
Jupiter Wagons Limited is an Indian private manufacturer of railway freight wagons, passenger coaches, wagon components, cast manganese steel crossings and castings headquartered in Kolkata, West Bengal. The company manufactures coaches for the Indian Railways and many other private companies.
Texmaco Rail & Engineering Ltd. is a private engineering and infrastructure company based in India. It is primarily engaged in the business of manufacturing railway wagons, coaches, and locomotives, as well as providing related services. The company is headquartered in Kolkata, West Bengal. The company manufactures coaches for the Indian Railways and many other private firms.
The Vande Bharat trainset, formerly known as Train 18, is an Indian Electric multiple unit chair car trainset designed and developed by Indian Railways at its Integral Coach Factory in Chennai. The train achieved a maximum speed of 183 km/h (114 mph) during its trial runs but the operational speed of the train is restricted to 160 km/h (99 mph) due to tracks' inability to support such speeds.
{{cite news}}
: CS1 maint: numeric names: authors list (link){{cite news}}
: CS1 maint: numeric names: authors list (link)