The shares of the small-cap company jumped 2 percent after the company launched the second indigenous Diving Support Crao (DSC) for the Indian Navy.
With a market capitalization of Rs. 9,431 cr, the shares of Titagarh Railway System Ltd started their Tuesday trading session in green. The stock opened at Rs. 745 and went on to hit a high of Rs. 762.55 making a gain of around 2 percent. The share is currently trading at Rs. 746 apiece.
In an exchange filing the company mentioned that on 30th October they launched the second indigenous Diving Support Crao (DSC) which was built in the company’s facility for the Indian Navy.
On 30 October at 02:30 AM, the DSC was launched at the Shipyard in Titagarh, West Bengal, in alignment with the tides that facilitate the deployment of the DSC in the water.
The company will be building 5 such DSCs for the Indian Navy, under the Make in India initiatives of the Ministry of Defence.
Looking at the Financial statement of the company, the revenue increased from Rs. 910.76 cr during the March quarter to Rs. 935.45 cr in the September quarter. In addition to this, the consolidated net profit increased from Rs.61.78 cr to Rs. 70.59 cr keeping the timeframe same.
Coming on to important financial ratios, the return on equity increased from 9.26 percent during FY21-22 to 14.91 percent in FY22-23 and the return on capital employed accelerated from 9.69 percent to 18.58 percent during the same period.
According to the latest shareholding pattern, Promotors have a 44.95 percent stake in the company, the public has a 27.73 percent share, FII has a holding of 16.85 percent in the company and the remaining 10.46 percent is with DIIs.
Headquartered in Kolkata, Titagarh Rail Systems Limited, formerly known as Titagarh Wagons Limited was established in 1997. TRSL is the largest private-sector manufacturer of railway wagons and an established player in passenger coaches.
Written By Vaibhav Patil
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