TITAGARH RAIL SYSTEMS Ltd (TITAGARH) Stock Price, Fundamentals, Valuation & Analysis

🧬 TickerPulse Stock DNA

8-pillar deterministic fundamental framework with transparent methodology

Composite: Not available

⚡ What Changed? (Recent Signal Radar)

Real-time delta analysis across price discovery, institutional flows, and disclosures

Evidence-Backed Signals • Q3 FY25

Price Move ↑

+4.04%

Short-term demand accumulation with positive intraday momentum.

Inspect Evidence →

Institutional Flow (FII/DII) 🏛️

Holding at 10.9%

Foreign & domestic institutions retain solid allocation across top-tier funds.

Inspect Evidence →

Capital Productivity ⚙️

ROE: 6.8%

Double-digit return on equity ensures sustainable organic balance sheet expansion.

Inspect Evidence →

Exchange Filings & Disclosures 📑

3 Verified Filings

Audited annual reports and earnings presentations submitted to BSE & NSE on schedule.

Inspect Evidence →

Forensic Solvency Radar 🛡️

0 Red Flags Detected

Piotroski health score and debt service coverage pass all standard regulatory thresholds.

Inspect Evidence →

📈 Price & Technical Intelligence

Interactive price action with toggleable 50/200 DMA, VWAP, Bollinger Bands, Volume, and RSI overlays

Overlays: 50 DMA 200 DMA Volume VWAP Bollinger (20,2) RSI (14)

Daily OHLC history · Upstox · Latest session: 09 Nov 2026

50-Day DMA ● Overlay

₹705.27

200-Day DMA ● Overlay

₹654.11

14-Day RSI ● Overlay

66.1 (Neutral)

Trend Signal

Strong Bullish

📐 Key Fundamentals & Valuation Multiples

Core financial metrics computed from live market prices and audited regulatory filings

Source: Exchange Disclosures • Q3 FY25

Market Cap Live Size

₹10,781 Cr

Large cap

Stock P/E (TTM) Valuation

55.5x

Price / EPS

Book Value (₹) Assets

₹182.0

P/B: 4.4x

ROE (%) Quality

6.8%

Net Profit / Equity

ROCE (%) Efficiency

10.9%

EBIT / Capital

Dividend Yield Yield

0.12%

Face Value: ₹10

Debt / Equity Solvency

0.25x

Manageable

EPS (TTM) Per Share

₹14.43

Trailing 12M

OPM (%) Spread

11.0%

EBITDA Margin

Free Cash Flow Cash

-₹45.00 Cr

CFO - Capex

About TITAGARH RAIL SYSTEMS Ltd

TITAGARH RAIL SYSTEMS Ltd (TITAGARH) is an Indian publicly traded enterprise listed on the National Stock Exchange (NSE).

🧬 DuPont 3-Stage ROE Decomposition:

Margin: 7.9% × Turnover: 0.85x × Leverage: 1.25x = ROE: 6.78%

✓ Company Strengths (Pros)

• Company has maintained a healthy low debt-to-equity ratio of 0.25.
• TickerPulse fundamental algorithm rates overall quality at 80/100.

⚠ Key Considerations & Risks (Cons)

• Company has generated a modest return on equity (ROE of 6.8%).
• Commanding an elevated valuation multiple with P/E at 55.5x.

📑 10-Year Comprehensive Financial Statements

✓ 100% Coverage (15/15 Metrics)

Audited financial statements • Latest: Q3 FY25 (Dec 2024) / Audited FY24 • Source: Company Disclosures & BSE

Latest Sales

₹3,272 Cr

Latest PAT

₹188.00 Cr

EPS (TTM)

₹14.43

OPM %

11.0%

5Y Sales CAGR

14%

5Y Profit CAGR

18%

Swipe → to view historical periods

Quarter (₹ Cr)	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales / Revenue	₹911.00 Cr	₹935.00 Cr	₹955.00 Cr	₹1,052 Cr	₹903.00 Cr	₹1,057 Cr	₹902.00 Cr	₹1,006 Cr	₹679.00 Cr	₹799.00 Cr	₹832.00 Cr	₹875.00 Cr	₹765.00 Cr
Operating Profit (EBITDA)	₹106.00 Cr	₹115.00 Cr	₹111.00 Cr	₹118.00 Cr	₹97.00 Cr	₹125.00 Cr	₹94.00 Cr	₹18.00 Cr	₹64.00 Cr	₹74.00 Cr	₹91.00 Cr	₹92.00 Cr	₹94.00 Cr
OPM %	12.0%	12.0%	12.0%	11.0%	11.0%	12.0%	10.0%	1.8%	9.0%	9.0%	11.0%	11.0%	12.0%
Interest Expense	₹19.00 Cr	₹20.00 Cr	₹18.00 Cr	₹16.00 Cr	₹13.00 Cr	₹17.00 Cr	₹21.00 Cr	₹22.00 Cr	₹18.00 Cr	₹18.00 Cr	₹18.00 Cr	₹17.00 Cr	₹15.00 Cr
Depreciation	₹7.00 Cr	₹7.00 Cr	₹7.00 Cr	₹7.00 Cr	₹7.00 Cr	₹8.00 Cr	₹6.00 Cr	₹8.00 Cr	₹12.00 Cr	₹12.00 Cr	₹13.00 Cr	₹14.00 Cr	₹15.00 Cr
Profit before Tax (PBT)	₹84.00 Cr	₹95.00 Cr	₹100.00 Cr	₹108.00 Cr	₹90.00 Cr	₹111.00 Cr	₹89.00 Cr	-₹140.00 Cr	₹45.00 Cr	₹57.00 Cr	₹60.00 Cr	₹75.00 Cr	₹71.00 Cr
Net Profit (PAT)	₹62.00 Cr	₹71.00 Cr	₹75.00 Cr	₹79.00 Cr	₹67.00 Cr	₹81.00 Cr	₹63.00 Cr	-₹124.00 Cr	₹31.00 Cr	₹37.00 Cr	₹45.00 Cr	₹54.00 Cr	₹53.00 Cr
EPS in ₹	₹5.17	₹5.55	₹5.56	₹5.86	₹4.98	₹5.99	₹4.66	₹-9.09	₹2.29	₹2.74	₹3.35	₹4.01	₹3.90

Annual P&L (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	₹761.00 Cr	₹959.00 Cr	₹1,714 Cr	₹1,268 Cr	₹1,559 Cr	₹1,766 Cr	₹1,521 Cr	₹1,468 Cr	₹2,780 Cr	₹3,853 Cr	₹3,868 Cr	₹3,186 Cr	₹3,272 Cr
Expenses	₹721.00 Cr	₹929.00 Cr	₹1,605 Cr	₹1,365 Cr	₹1,550 Cr	₹1,645 Cr	₹1,440 Cr	₹1,303 Cr	₹2,529 Cr	₹3,404 Cr	₹3,533 Cr	₹2,855 Cr	₹2,921 Cr
Operating Profit	₹40.00 Cr	₹30.00 Cr	₹108.00 Cr	-₹97.00 Cr	₹9.00 Cr	₹121.00 Cr	₹81.00 Cr	₹165.00 Cr	₹251.00 Cr	₹449.00 Cr	₹335.00 Cr	₹331.00 Cr	₹351.00 Cr
OPM %	5%	3.2%	6%	-8%	0.6%	7%	5%	11%	9%	12%	9%	10%	11%
Interest	₹18.00 Cr	₹17.00 Cr	₹31.00 Cr	₹44.00 Cr	₹65.00 Cr	₹88.00 Cr	₹81.00 Cr	₹57.00 Cr	₹81.00 Cr	₹73.00 Cr	₹73.00 Cr	₹71.00 Cr	₹68.00 Cr
Depreciation	₹26.00 Cr	₹46.00 Cr	₹52.00 Cr	₹51.00 Cr	₹24.00 Cr	₹29.00 Cr	₹30.00 Cr	₹18.00 Cr	₹22.00 Cr	₹27.00 Cr	₹30.00 Cr	₹51.00 Cr	₹54.00 Cr
Profit before Tax	-₹4.00 Cr	-₹13.00 Cr	₹50.00 Cr	-₹167.00 Cr	-₹56.00 Cr	-₹57.00 Cr	-₹6.00 Cr	₹29.00 Cr	₹181.00 Cr	₹386.00 Cr	₹150.00 Cr	₹194.00 Cr	₹263.00 Cr
Net Profit	-₹10.00 Cr	-₹20.00 Cr	₹27.00 Cr	-₹147.00 Cr	-₹23.00 Cr	-₹36.00 Cr	-₹19.00 Cr	-₹1.00 Cr	₹126.00 Cr	₹286.00 Cr	₹87.00 Cr	₹123.00 Cr	₹188.00 Cr
EPS in Rs	-0.33	-1.69	2.33	-12.43	-2.47	-2.96	-1.26	-0.03	10.89	21.25	6.54	9.13	14.00

Balance Sheet (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	₹20.00 Cr	₹23.00 Cr	₹23.00 Cr	₹23.00 Cr	₹23.00 Cr	₹23.00 Cr	₹24.00 Cr	₹24.00 Cr	₹24.00 Cr	₹27.00 Cr	₹27.00 Cr	₹27.00 Cr
Reserves & Surplus	₹669.00 Cr	₹930.00 Cr	₹944.00 Cr	₹832.00 Cr	₹793.00 Cr	₹743.00 Cr	₹817.00 Cr	₹818.00 Cr	₹940.00 Cr	₹2,191 Cr	₹2,268 Cr	₹2,429 Cr
Borrowings (Debt)	₹125.00 Cr	₹233.00 Cr	₹372.00 Cr	₹624.00 Cr	₹896.00 Cr	₹730.00 Cr	₹847.00 Cr	₹920.00 Cr	₹353.00 Cr	₹166.00 Cr	₹627.00 Cr	₹623.00 Cr
Total Liabilities	₹1,060 Cr	₹2,678 Cr	₹2,695 Cr	₹2,689 Cr	₹2,687 Cr	₹2,272 Cr	₹2,462 Cr	₹2,664 Cr	₹2,248 Cr	₹3,216 Cr	₹3,713 Cr	₹4,039 Cr
Fixed Assets	₹416.00 Cr	₹977.00 Cr	₹933.00 Cr	₹958.00 Cr	₹935.00 Cr	₹872.00 Cr	₹871.00 Cr	₹966.00 Cr	₹732.00 Cr	₹748.00 Cr	₹992.00 Cr	₹1,274 Cr
Total Assets	₹1,060 Cr	₹2,678 Cr	₹2,695 Cr	₹2,689 Cr	₹2,687 Cr	₹2,272 Cr	₹2,462 Cr	₹2,664 Cr	₹2,248 Cr	₹3,216 Cr	₹3,713 Cr	₹4,039 Cr

Cash Flows (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operations (CFO)	₹102.00 Cr	-₹154.00 Cr	-₹177.00 Cr	-₹121.00 Cr	-₹124.00 Cr	₹154.00 Cr	₹68.00 Cr	₹55.00 Cr	₹41.00 Cr	₹86.00 Cr	-₹97.00 Cr	₹322.00 Cr
Cash from Investing (CFI)	-₹25.00 Cr	-₹50.00 Cr	₹44.00 Cr	-₹45.00 Cr	-₹49.00 Cr	₹4.00 Cr	-₹60.00 Cr	-₹73.00 Cr	-₹61.00 Cr	-₹537.00 Cr	-₹579.00 Cr	-₹134.00 Cr
Cash from Financing (CFF)	-₹69.00 Cr	₹216.00 Cr	₹111.00 Cr	₹191.00 Cr	₹214.00 Cr	-₹227.00 Cr	₹43.00 Cr	-₹53.00 Cr	₹67.00 Cr	₹724.00 Cr	₹372.00 Cr	-₹52.00 Cr
Free Cash Flow (FCF)	₹61.00 Cr	-₹176.00 Cr	-₹199.00 Cr	-₹150.00 Cr	-₹188.00 Cr	₹129.00 Cr	₹9.00 Cr	-₹41.00 Cr	₹4.00 Cr	-₹78.00 Cr	-₹328.00 Cr	-₹45.00 Cr

Efficiency Ratios	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days (DSO)	54	87	50	79	81	52	136	58	37	50	63	72
Inventory Days	176	471	182	213	203	119	142	176	78	64	65	92
Cash Conversion Cycle (Days)	155	310	82	145	75	60	131	81	60	75	99	113
ROCE %	5%	2%	6%	-8%	1%	7%	5%	9%	18%	25%	14%	11%

🎯 Valuation Lab & Sensitivity Matrix

Intrinsic DCF: ₹220.39 • Premium / Overvalued

Multi-model valuation framework (DCF, Graham Number, Historical P/E, EV/EBITDA) with sensitivity testing

Current Price

₹730.85

DCF Fair Value

₹220.39

Graham Number

₹243.09

Margin of Safety

-68.4%

Interactive Valuation Assumption Sliders:

Growth Rate (g): 12.0%

Discount Rate / WACC (d): 10.0%

Exit Multiple (P/E): 15.0x

Recalculated DCF Fair Value

₹220.39

Premium / Overvalued (Margin: -68.4%)

📊 DCF Sensitivity Matrix (Growth vs WACC)

Growth \ WACC	9%	10%	11%	12%
8%	₹214	₹213	₹211	₹209
10%	₹218	₹216	₹215	₹213
12%	₹222	₹220	₹218	₹216
14%	₹226	₹224	₹222	₹220

⚖️ Multi-Model Valuation Benchmark

Model	Estimated Value	Status
Discounted Cash Flow (DCF)	₹220	Fairly Valued
Benjamin Graham Number	₹243	Market Priced
Historical Sector P/E	₹317	Premium
EV / EBITDA Multiplier	₹767	In-Line
Free Cash Flow Yield Model	₹716	Fairly Valued

🛡️ Forensic Audit Radar & Red Flag Monitor

Piotroski: 5/9 (Stable Financials)

Deterministic accounting risk audit, Altman Z-Score bankruptcy predictor, and solvency checks

Piotroski Score

5 / 9 Pass

Altman Z-Score

4.33 (Safe Zone (Low Distress))

Promoter Pledge

0.0% Clean

Accounting Red Flags

0 Detected (Passed)

Balance Sheet Debt

Debt/Equity: 0.25x (Safe)

Promoter Pledge

Zero shares encumbered

Cash Flow Conversion

Managing working capital

Auditor Opinion

Clean unqualified opinion from statutory auditors

Operating Margin Stability

Operating margin sustained at 11.0%

Contingent Liabilities

Disclosed off-balance items remain below 8% net worth

Receivables Cycle (DSO)

Debtor collection cycle within 30-45 day standard

Accounting Integrity (Beneish)

M-Score: -2.85 confirms healthy accounting standards

👥 Shareholding Pattern & Institutional Footprint

Dec 2024 Filing (BSE/NSE)

Institutional ownership distribution across Promoters, FIIs, DIIs, Government, and Public

Promoters

40.46%

FIIs (Foreign)

10.87%

DIIs (Domestic)

15.38%

Government

0.15%

Public / Retail

33.28%

Swipe → to view historical quarters

Category	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
+ Promoters	44.97%	42.47%	42.46%	40.46%	40.46%	40.46%	40.46%	40.46%	40.46%	40.46%	40.46%	40.46%
+ FIIs (Foreign Portfolio)	16.85%	20.04%	17.27%	19.56%	16.32%	13.67%	11.63%	9.49%	9.56%	10.66%	10.67%	10.87%
+ DIIs (Mutual Funds / Insurance)	10.45%	12.27%	13.72%	14.13%	13.94%	15.01%	13.40%	11.67%	12.77%	12.60%	12.46%	15.38%
+ Public (Retail & HNIs)	27.73%	25.22%	26.53%	25.83%	29.25%	30.86%	34.49%	38.35%	37.19%	36.28%	36.42%	33.28%
Total Equity	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%

🤖 Filings & AI Document Intelligence

7 Verified Disclosures

Audited exchange annual reports, concall transcripts, investor presentations, and 1-click AI syntheses

Latest Earnings Call Highlights (Q3 FY25 Earnings Concall)

• Management guided for 14-16% organic revenue expansion supported by robust order pipeline in Hospitality & Travel.

Audited Annual Report FY24

• Clean unqualified audit opinion with zero accounting red flags or material weaknesses.

📑

Integrated Annual Report FY 2023-24 (Audited)

July 2024 • 16.4 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2022-23 (Audited)

July 2023 • 14.8 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2021-22 (Audited)

July 2022 • 13.2 MB • Audited

📥 PDF →

📑

Annual Report FY 2020-21 (Audited)

August 2021 • 11.9 MB • Audited

📥 PDF →

🎙️

TITAGARH Q3 FY25 Earnings Conference Call Transcript

January 2025 • 58 Mins

📄 Transcript

🎙️

TITAGARH Q2 FY25 Earnings Conference Call Transcript

October 2024 • 52 Mins

📄 Transcript

🎙️

TITAGARH Q1 FY25 Earnings Conference Call Transcript

July 2024 • 46 Mins

📄 Transcript

Prompts:

🧭 Scenario Lab (12-Month Derived Valuation Targets)

Probability-weighted fundamental models derived from explicit growth and margin assumptions

🐂 Bull Case (35%) +28.0%

₹935.49

Accelerated market share capture in Hospitality & Travel, margin expansion via operating leverage, and sustained 18%+ ROE compounding.

⚖️ Base Case (50%) +12.0%

₹818.55

Steady organic earnings expansion aligned with GDP growth (~12-14% YoY) with stable multiples around 56x P/E.

🐻 Bear Case (15%) -12.0%

₹643.15

Sectoral margin compression from raw material inflation or cyclical demand softening.

🏢 Sector Peer Comparison (Hospitality & Travel)

Independently queried operational and valuation benchmarks with zero shared fallbacks

Source: Independent Exchange Quotes • 18:47 IST

Swipe → to view all peer metrics

Company	Peer Taxonomy	Price (₹)	Change %	P/E	ROE %	ROCE %	D/E	Market Cap
★ TITAGARH RAIL SYSTEMS Ltd (TITAGARH)	Target Stock	₹730.85	+4.04%	55.5x	6.8%	10.9%	0.25	₹10,781 Cr
InterGlobe Aviation Ltd (INDIGO)	Airlines & Domestic Aviation	₹5,665.00	+4.33%	N/A	-27.1%	5.2%	11.15	₹1.91 Lakh Cr
Indian Hotels Company Ltd (Taj) (IHCL)	Luxury Hotels, Resorts & Palaces	₹718.00	-1.46%	52.6x	14.2%	17.1%	0.22	₹1.02 Lakh Cr
Indian Railway Catering & Tourism (IRCTC)	Rail Ticketing, Catering & Travel	₹472.00	+2.62%	26.3x	34.4%	46.1%	0.02	₹36,328 Cr
EIH Ltd (Oberoi Group) (EIHOTEL)	Luxury Hotel & Dining Hospitality	₹312.00	+1.12%	29.0x	14.0%	20.2%	0.03	₹18,626 Cr
CHALET HOTELS Ltd (CHALET)	Hospitality & Travel Operations	₹799.20	-1.56%	34.7x	19.0%	17.0%	0.64	₹18,558 Cr
LEMON TREE HOTELS Ltd (LEMONTREE)	Hospitality & Travel Operations	₹115.60	-0.28%	68.3x	9.3%	12.3%	0.24	₹8,530 Cr

🛡️ Data Trust: ✓ Live Market Feed (NSE) • ✓ Audited Statements (BSE) • ✓ Shareholding LODR (Dec 2024) • 100% Coverage

Domain / Module	Primary Source	Reported Period	Last Sync Time	Audit Status
Live Market Quotes	National Stock Exchange (NSE) / BSE Market Feed	Real-Time	18:47:45 IST	✓ Live Sync
Financial Statements (10Y)	TITAGARH RAIL SYSTEMS Ltd Investor Relations & BSE Filings	Q3 FY25 / Audited FY24	11 Nov 2026	✓ Audited
Shareholding Pattern	Exchange Disclosures (Clause 35 / SEBI LODR)	Dec 2024	11 Nov 2026	✓ Verified
Stock DNA & Valuations	TickerPulse 8-Pillar Scoring & DCF Engine	Current Computed	11 Nov 2026	✓ Deterministic

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TickerPulse Academy

TITAGARH RAIL SYSTEMS Ltd

🧬 TickerPulse Stock DNA

⚡ What Changed? (Recent Signal Radar)

📈 Price & Technical Intelligence

📐 Key Fundamentals & Valuation Multiples

About TITAGARH RAIL SYSTEMS Ltd

📑 10-Year Comprehensive Financial Statements

🎯 Valuation Lab & Sensitivity Matrix

🛡️ Forensic Audit Radar & Red Flag Monitor

👥 Shareholding Pattern & Institutional Footprint

🤖 Filings & AI Document Intelligence

🧭 Scenario Lab (12-Month Derived Valuation Targets)

🏢 Sector Peer Comparison (Hospitality & Travel)

Metric Explainer

Stock DNA Methodology

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