Titagarh Rail Systems (TRSL) announced that its JV-SPV, Shivaliks Mercantile has acquired 28.23% additional stake in the equity share capital of Titagarh Firema S.p.A, Italy (Firema), an associate company of TRSL on 21 February 2024 for a consideration in cash aggerating Euro 20.21 million (equivalent to Rs 180.33 crore), to grow capabilities and capacities for various products in India and globally. Following the aforesaid acquisition, the total shareholding of Shivaliks in Firema has gone up to 34.59%. Invitalia, investment arm of the Government of Italy has also made fresh investment of Euro 10 million in Firema pursuant whereto its stake in Firema has increased to 31.01%. With the aforesaid investments, the current shareholding of TRSL in Firema stands at 25.43%. Powered by Capital Market - Live News

Titagarh Rail Systems has received an order from the Ministry of Defence, Government of India for Procurement of 250 Specialized Wagons. The order value is approximately Rs 170 crore. Execution of the contract is scheduled to start 12 months after the signing of the contract and complete in 36 months.Powered by Capital Market - Live News

Net profit of Titagarh Rail Systems rose 129.86% to Rs 74.82 crore in the quarter ended December 2023 as against Rs 32.55 crore during the previous quarter ended December 2022. Sales rose 24.57% to Rs 954.68 crore in the quarter ended December 2023 as against Rs 766.40 crore during the previous quarter ended December 2022. ParticularsQuarter Ended�Dec. 2023Dec. 2022% Var. Sales954.68766.40 25 OPM %11.598.52 - PBDT107.0052.70 103 PBT100.2147.28 112 NP74.8232.55 130 Powered by Capital Market - Live News

Titagarh Rail Systems will hold a meeting of the Board of Directors of the Company on 2 February 2024.Powered by Capital Market - Live News

Titagarh Rail Systems (Titagarh) announced that binding definitive agreements have been entered amongst, Sidwal Refrigeration Industries (Sidwal), a leader in the train and metro air conditioner market in India [wholly owned material subsidiary of Amber Enterprises India] and Titagarh and its promoters and Shivaliks Mercantile (Shivaliks), an existing company within the meaning of the Companies Act 2013, for undertaking investment by Sidwal & Titagarh in Shivaliks, which will become a Joint Venture - Special Purpose Vehicle Company (JV-SPV), to carry on the business of railway components and sub systems for the rolling stock industry in India and overseas and also expand their business into the global markets.Pursuant to the said definitive agreements, the proposed JV-SPV - Shivaliks will be controlled equally by Sidwal and Titagarh. Through Shivaliks, Sidwal and Titagarh are desirous of undertaking investment in Titagarh Firema SpA, Italy (Firema) which is inter alia, in the rolling stocks space, in order to grow capabilities and capacities for various products in India and globally. Powered by Capital Market - Live News