Titagarh Wagons is in talks with the Italian government for support to boost its operation in Europe. The company is confident of making a turnaround of its Italian arm ‘Titagarh Firema’ there by next year.
Titagarh Firema, which had reported a loss of around euro 9 million in FY22, including one-off exceptional expenses totalling euro 4.5 million due to operational restructuring, is hopeful to become EBITDA (earnings before interest, taxes, depreciation, and amortisation) positive in the current fiscal and will take another year to be net positive.
Titagarh Wagons is the largest private sector manufacturer of railway coaches (EMUs, MEMUs) and the largest wagon maker (other than Railways).
