Synopsis:
A railway stock gained investor attention after winning a Rs. 2,481 crore order for Mumbai Metro Line 5 from MMRDA. The project marks a major milestone in India’s Make-in-India urban mobility drive.
A railway stock came into focus after clinching a major metro contract, signalling strong demand for indigenous rolling stock and signalling systems in India’s expanding urban transit network.
Titagarh Rail Systems Limited opened at Rs. 895.65 after a previous close of Rs. 884.55 and touched an intraday high of Rs. 919, marking a 3.90 percent rise. The company’s market capitalization currently stands at Rs. 12,241.85 crore.
What’s the News?
Titagarh Rail Systems Limited (TRSL), a leading Indian rolling stock manufacturer, has secured a prestigious contract from the Mumbai Metropolitan Region Development Authority (MMRDA) for the Mumbai Metro Line 5 project.
The scope of work includes the design, manufacture, supply, installation, integration, testing, and commissioning of rolling stock, communication-based signalling and train control systems, telecommunication, platform screen doors, and depot machinery. The project involves the manufacture and supply of 132 metro coaches, along with signalling for 24.9 km and telecom across 16 stations, and includes five years of comprehensive maintenance.
Valued at approximately Rs. 2,481 crore plus GST, the project covers both Phase 1 (Kapur Bawdi–Kasheli–Dhamankar Naka) and Phase 2 (Dhamankar Naka–Bhiwandi–Kalyan APMC) of the Mumbai Metro Line 5 network. This is Titagarh Rail Systems’ second major contract for Mumbai Metro, following its earlier mandate for Line 6.
The driverless Make-in-India trainsets for Line 5 will feature stainless steel car bodies, ensuring durability and energy efficiency. They will offer modern, ergonomic interiors for enhanced passenger comfort and safety. Manufacturing will take place at Titagarh’s Uttarpara facility in Kolkata, which is already producing advanced rolling stock for Ahmedabad, Surat, and Bangalore Metro projects, as well as the Sleeper Vande Bharat trains.
Comments from the Management
Commenting on the order, Mr. Umesh Chowdhary, Vice Chairman & Managing Director, Titagarh Rail Systems Ltd, said: “We are honoured to secure this contract for the Mumbai Metro, this time with MMRDA for Line 5. This milestone demonstrates Titagarh’s growing expertise in delivering end-to-end metro solutions. Our continued partnership with Mumbai’s metro expansion reflects our commitment to India’s vision of sustainable, efficient, and world-class transportation, creating the next phase of urban mobility. We remain committed to driving the nation’s infrastructure growth — not only Make in India and Make for India, but also Make for the World. With this spirit, we continue to contribute meaningfully towards the vision of a Viksit Bharat in the years ahead.”
Financial Snapshot – Q1FY26
Quarter-on-Quarter (QoQ): Revenue declined 32.5 percent to Rs. 679 crore from Rs. 1,006 crore in the previous quarter. Operating profit fell 31.2 percent to Rs. 64 crore from Rs. 93 crore, while profit before tax dropped 51.1 percent to Rs. 45 crore from Rs. 92 crore. Net profit also decreased 51.6 percent to Rs. 31 crore, compared to Rs. 64 crore in the preceding quarter.
Year-on-Year (YoY): Revenue contracted 24.8 percent from Rs. 903 crore to Rs. 679 crore. Operating profit fell 34 percent to Rs. 64 crore from Rs. 97 crore, while profit before tax declined 50 percent to Rs. 45 crore from Rs. 90 crore. Net profit also dropped 53.7 percent, decreasing from Rs. 67 crore to Rs. 31 crore in the same period last year.
About the Company
Titagarh Rail Systems Limited (TRSL) is one of India’s leading integrated mobility solution providers with operations in India and Italy. The company designs and manufactures a diverse portfolio of rolling stock, including semi-high-speed trains, metro coaches, passenger coaches, propulsion systems, and specialized freight wagons. With state-of-the-art manufacturing facilities in both countries, TRSL plays a pivotal role in shaping the future of passenger and freight rail transportation through its focus on innovation, technology, and Make-in-India manufacturing excellence.
Written by Manan Gangwar
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