Titagarh Rail Systems Limited (TRSL) announced a strong performance for Q2 FY27, marked by a record ₹300 crore in Passenger Rail Systems (PRS) revenue, a 146% YoY increase. The company also invoiced 51 metro cars, a 325% YoY jump. Key strategic developments include signing a JV agreement with BHEL for Vande Bharat trainset maintenance and an MoU with Siemens for international metro rolling stock opportunities. The total order book stands at approximately ₹28,695 crore.
Titagarh Rail Systems Delivers Strong Q2 FY27 Results
Titagarh Rail Systems Limited (TRSL) has reported a robust performance for the second quarter and first half of the fiscal year 2027. The company achieved a record-breaking ₹300 crore in Passenger Rail Systems (PRS) revenue, representing a significant 146% year-on-year growth and a 31% quarter-on-quarter increase. Furthermore, TRSL invoiced 51 metro cars during Q2 FY27, showcasing a remarkable 325% YoY and 70% QoQ surge in metro car production and delivery.
Key Strategic Milestones Achieved
The quarter was also distinguished by significant strategic advancements. TRSL signed a 50:50 Joint Venture (JV) Agreement with BHEL on September 15, 2026, to establish a Special Purpose Vehicle (SPV) for the comprehensive maintenance of 80 Vande Bharat sleeper trainsets over 35 years. This JV is expected to contribute approximately ₹7,000 crore to TRSL’s order book. Additionally, a non-binding Memorandum of Understanding (MoU) was signed with Siemens to explore international metro rolling stock opportunities.
A new design centre has been established in Lucknow, enhancing the company’s in-house design capabilities for various railway products. The Vande Bharat sleeper prototype train is also on track for testing by Q4 FY27.
Robust Order Book
TRSL’s consolidated order book stands strong at approximately ₹28,695 crore, inclusive of JV shares. The standalone order book, including wholly-owned subsidiaries, is approximately ₹15,369 crore. The company’s business units show a significant contribution from Passenger Rail Systems, representing 72.39% of the total order book.
Financial Performance Highlights
The company’s financial highlights for Q2 FY27 indicate strong revenue from operations at ₹772.81 crore. The EBIT stood at ₹102.24 crore, reflecting a healthy profit margin.
Source: BSE
