The shares of Titagarh Wagons Limited were trading marginally higher on Friday at Rs 192 levels. The stocks rallied after it emerged as a bidder for the Rs 26,000-crore order by the Indian Railways to make 200 lightweight Vande Bharat trains.
The company has formed a consortium with Bharat Heavy Electricals Limited for this purpose. It is among the five bidders which include names like Alstom India, Medha Servo Siemens Ltd, and Russia’s Transmashholding.
Titagarh Wagons Limited is engaged in the manufacturing and selling of Freight Wagons, Passenger Coaches, Metro Trains, Train Electricals, Steel Castings, Specialised Equipment & Bridges, Ships, etc.
A year ago, the shares of the company were trading at Rs 86.80 a piece on NSE. It is scaled up to the current levels logging a multibagger return of 118 per cent in a year. The stock started rallying in February after it hit a 52-week low of Rs 75.10. The shares have delivered a multibagger return of 145 per cent from those levels.
In Q2FY23, the company reported a total revenue of Rs 607 Crore which is a 32 per cent increase Year on Year from Rs 459 crore and an increase of 15 per cent Quarter on Quarter from Rs 528 crore.
Their profits stood at Rs 46 crore in the quarter under review which is a jump of 820 per cent from the previous year’s profit of Rs 5 crore. In the previous quarter, their profit stood at Rs 1l crore.
The company has a market capitalization of Rs 2,256 crore. The promoters of the company hold a 47.26 per cent stake with zero shareholder pledges. In addition to that, ace investor Akash Bhanshali holds a 1.2% stake in the company with an investment value of Rs 26.7 crore.
Written by Anoushka Roy
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