Titagarh Railsystems Ltd - Stock Valuation and Financial Performance

BSE: 532966 | NSE: TITAGARH | Railways Wagons | Small Cap

Titagarh Railsystems Share Price

918.10 -10.45 -1.13%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Titagarh Railsystems

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Titagarh Railsystems stock performance -

mw4me loader
P/E Ratio (SA):
46.40
Market Cap:
12,364.4 Cr.
52-wk low:
235.2
52-wk high:
1,249

Is Titagarh Railsystems Ltd an attractive stock to invest in?

1. Is Titagarh Railsystems Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Titagarh Railsystems Ltd is a below average quality company.

2. Is Titagarh Railsystems Ltd undervalued or overvalued?

The key valuation ratios of Titagarh Railsystems Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Titagarh Railsystems Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Titagarh Railsystems Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Titagarh Railsystems:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Titagarh Railsystems Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 0.5%4.6%0.3%2.1%0.6%4.2%5.2%8.6%7%12.4%-
Value Creation
Index
-1.0-0.7-1.0-0.9-1.0-0.7-0.6-0.4-0.5-0.1-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 2613763123493141,0601,4841,0261,4962,7813,775
Sales YoY Gr.-44%-17%11.9%-10.1%237.8%40%-30.9%45.8%85.9%-
Adj EPS -0.12.7-0.11.4-0.11.61.142.46.819.8
YoY Gr.-NA-103.8%NA-103.5%NA-33.5%281.9%-39.7%181.4%-
BVPS (₹) 62.462.275.877.476.877.270.472.972.780.5160.8
Adj Net
Profit
-0.626.7-1.216.5-0.518.212.147.82981.4266
Cash Flow from Ops. 24.290.9-44.2-27.728.4-93.729622634.962-
Debt/CF from Ops. 2.60.2-0.3-1.63.5-3.20.70.544-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 30.1%54.7%23.3%85.9%
Adj EPS NANA86.5%181.4%
BVPS2.9%1%4.6%10.7%
Share Price 45.3% 67.3% 173.8% 265.7%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
-0.14.2-0.21.9-0.121.45.73.38.916.4
Op. Profit
Mgn %
-3.18.4-1.73.4-2.55.58.611.8119.511.3
Net Profit
Mgn %
-0.27.1-0.44.7-0.21.70.84.71.92.97.1
Debt to
Equity
0.1000.10.10.30.30.10.20.3-
Working Cap
Days
55132436541869429323830723718373
Cash Conv.
Cycle
344184192190240583254524123

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 16.40%

Sales growth is growing at healthy rate in last 3 years 23.28%

Net Profit is growing at healthy rate in last 3 years 86.49%

Sales growth is good in last 4 quarters at 79.91%

No data to display

Latest Financials - Titagarh Railsystems Ltd.

Standalone Consolidated
TTM EPS (₹) 19.8 19
TTM Sales (₹ Cr.) 3,775 3,775
BVPS (₹.) 160.8 160.4
Reserves (₹ Cr.) 2,138 2,133
P/BV 5.71 5.73
PE 46.40 48.41
From the Market
52 Week Low / High (₹) 235.15 / 1249.00
All Time Low / High (₹) 13.97 / 1249.00
Market Cap (₹ Cr.) 12,364
Equity (₹ Cr.) 26.9
Face Value (₹) 2
Industry PE 55.5

Management X-Ray of Titagarh Railsystems:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Titagarh Railsystems

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales2613763123493141,0601,4841,0261,4962,781
Operating Expenses 2713523173373221,0021,3579071,3352,517
Manufacturing Costs6163677267149196107145233
Material Costs1602311971971787561,0787311,0742,150
Employee Cost 18182023293335284557
Other Costs 31403445486448397178
Operating Profit -924-512-858127119160264
Operating Profit Margin (%) -3.6%6.5%-1.7%3.4%-2.5%5.5%8.6%11.6%10.7%9.5%
Other Income 28232830293719112645
Interest 665493965555781
Depreciation 791212131618161823
Exceptional Items 0-17-2000-127-1614-48-46
Profit Before Tax 615-1426-1-87-986463159
Tax 25-57-4-31-19142955
Profit After Tax 410-9193-55-805033103
PAT Margin (%) 1.4%2.6%-2.9%5.5%0.9%-5.2%-5.4%4.9%2.2%3.7%
Adjusted EPS (₹)0.41.0-0.81.70.3-4.8-6.94.22.88.6
Dividend Payout Ratio (%)213%81%-103%48%119%-6%0%0%0%6%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 633630874894887892814870870963
Share Capital 20202323232323242424
Reserves 613610851871864869791846846939
Minority Interest0000000000
Debt6415134399292211102112216
Long Term Debt00000861471025350
Short Term Debt641513439920663059167
Trade Payables1740363737335212134230323
Others Liabilities 8277852393762904055226951,028
Total Liabilities 7967621,0091,2121,3991,8091,6421,6281,9062,531

Fixed Assets

Gross Block193198309328335655669666787862
Accumulated Depreciation7785102133678593111132
Net Fixed Assets117113299307302587584573676730
CWIP 43251619016012
Investments 1772162333633841581041336045
Inventories209135139150133316206199312461
Trade Receivables497571110105186159139199279
Cash Equivalents 12410514916152337923985
Others Assets117115116261445521552475619918
Total Assets 7967621,0091,2121,3991,8091,6421,6281,9062,531

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 2491-44-2828-942962263562
PBT 615-1426-1-87-986463159
Adjustment -79-110816921359135149
Changes in Working Capital 3375-13-5322-174190101-152-180
Tax Paid -7-8-7-1-1-2-81-11-66
Cash Flow From Investing Activity -13-45-753-6722-143-39-59-77
Capex -10-9-3-26-12-293-20-72-37
Net Investments -21-4678-4-514-149-31
Others -1-38-26-49-5156-159-55-10
Cash Flow From Financing Activity -4-63115283770-145-147-2250
Net Proceeds from Shares 001450024010
Net Proceeds from Borrowing 000001153-47-483
Interest Paid -4-4-4-4-8-37-55-37-30-52
Dividend Paid -9-9-220-11-4-4000
Others 9-49-5325697-143-635599
Net Cash Flow 7-18-43-2-1840-4634
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)0.61.58-1.22.180.33-6.22-9.375.973.8511.28
ROCE (%)1.733.21-1.113.360.82-4.32-3.0111.9112.121.57
Asset Turnover Ratio0.340.510.370.330.240.660.860.630.851.25
PAT to CFO Conversion(x)69.1N/A-1.479.33N/AN/A4.521.060.6
Working Capital Days
Receivable Days1015782891245042534131
Inventory Days2771601541421637764726251
Payable Days58447067759093866247

Titagarh Railsystems Ltd Stock News

Titagarh Railsystems Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Titagarh Railsystems on 28-Mar-2024 16:01 is ₹918.1.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 16:01 the market cap of Titagarh Railsystems stood at ₹12,364.4.
The latest P/E ratio of Titagarh Railsystems as of 28-Mar-2024 16:01 is 46.40.
The latest P/B ratio of Titagarh Railsystems as of 28-Mar-2024 16:01 is 5.71.
The 52-week high of Titagarh Railsystems is ₹1,249 and the 52-week low is ₹235.2.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Titagarh Railsystems is ₹3,775 ( Cr.) .

About Titagarh Railsystems Ltd

Titagarh Wagons, incorporated in 1997, is primarily engaged in the manufacturing of railway wagons. It is one of the leading private sector wagon manufacturers in India. The company has received certifications for its quality management such as ISO 9001: 2000 and BS EN ISO 9001:2000. The rating agency CRISIL has upgraded the rating of TWL from 'A 1' to 'A 1+' i.e. 'Positive'.

Currently, the company is engaged in manufacturing of railway wagons, bailey bridges, heavy earth moving and mining equipment, steel and SG iron castings of moderate to complex configuration. The company also manufactures products for the Indian defence establishment, such as special wagons, shelters and other engineering equipments.

In its initial year, the company started the development of the prototype of BOXN Wagon. Immediately next year the company was awarded an order from Indian Railway to manufacture BOXN and BCNA type wagons. In 2000 there was addition of new type of wagon i.e. BOBYN.

In the year 2001, Titagarh Wagons started its Bailey bridge division. The company started manufacturing of BOBRN type wagon. In 2002 the company despatched its first set of components of Bailey bridges.

Products

Wagon- The company manufactures range of wagons such as hopper wagon, covered wagon, open top wagon, container flat wagon, tank wagon, flat wagon and special purpose wagon.

Heavy Earth Moving and Mining Equipment- Under this the company manufactures hydraulic excavator and crawler mounted crane.

Foundry- Under this company manufactures bogies and couplers.

Rail Coach- Titagarh Wagons manufactures rail coaches for metro systems. It is planning to develop coaches for metro systems setting up at Mumbai, Hyderabad and Bangalore.

The company is also engaged in undertaking special projects such as developing Bailey bridges, other modular steel bridges and equipments for nuclear power and defence sector.

Milestones

  • 1997 -  Year of Incorporation : Development of the Proto Type of BOXN Wagon
  • 1998 -  1st Order from the Indian Railways [For BOXN & BCNA Type Wagons
  • 2000 -  ISO:9002 Certification from Lloyds UK
  • 2000 -  Addition of new type of wagon (BOBYN) in the order book
  • 2001 -  Bailey Bridge Division : Only Pvt. Sector Unit Registered with the Ministry of Defence, Government of India.
  • 2001 -  Commencement of Manufacturing BOBRN Type Wagon
  • 2002 -  Recognition from the Minstry of Defence, Government of India as an ‘Industry Partner’ for wagons and Bridges
  • 2002 -  First order for manufacture and supply of Bailey Bridge
  • 2002 -  Upgradation of Quality Certification to ISO: 9001-1994 from Lloyd’s Register Quality Assurance, United Kingdom
  • 2002 -  Despatch of the first set of components for Bailey Bridge
  • 2003 -  Commencement of two new types of wagons BOST and BFNS in the order book
  • 2003 -  First order received for supply of Container Flat wagons from CONCOR
  • 2003 -  First order for supply of Special Purpose Wagons for the Ministry of Defence
  • 2003 -  Upgradation of Quality Certification to ISO: 9001-2000 from Lloyd’s Register Quality Assurance, United Kingdom
  • 2003 -  Recognition of In-House R&D unit by the by the Department of Scientific & Industrial Research, Ministry of Science & Technology, Govt. Of India
  • 2003 -  Registered Supplier for United Nations Procurement Division for the manufacture and supply of fabricated engineering items
  • 2004 -  Received registration from the Ministry Of Defence, Government Of India to be a licensed manufacture of Integrated Field Shelter (NBC Shelter)
  • 2004 -  1st Export Order from Africa
  • 2005 -  Order for the MGR Type Wagon from NTPC
  • 2005 -  Commencement of Manufacturing BRNAHS Type Wagon
  • 2005 -  1st Private Sector Order of BOXN-HS wagon under OYWS
  • 2005 -  Execution of BTA with Hyderabad Industries Limited for Acquisition of Heavy Engineering Division
  • 2005 -  Investment in Equity Share of the Company by Strategic Venture (Mauritius) Limited
  • 2006 -  Investment in Equity Share of the company by 2i Capital PCC
  • 2006 -  Investment in Equity Share of the company by Goya Limited
  • 2006 -  Received Quality Certification from ISO: 9001-2000 from Indian Register Quality System (Indian Register of Shipping) for the Heavy Engineering Division
  • 2006 -  Roll out first ever wagon manufacture under WIS
  • 2006 -  First order from Private Sector for supply of Food Grain Wagon
  • 2006 -  First order under Privatisation of Container Freight Traffic for Supply Container Flat Wagon
  • 2006 -  Addition of new type of wagon (BOXN-LW) in the order book
  • 2006 -  First order for supply of tank wagons (BTPN)
  • 2006 -  Entered into a memorandum of understanding with M/s Kawada, Inc, Japan, for development of double lane modular bridges, called Kawada System Truss Bridges
  • 2007-  Entered into a Share Subscription Agreement with GE. Received first order for EMU Coaches from Indian Railway Entered into an agreement for revival of Cimmco 
  • 2008-  Initial Public Offering of shares. Listing at BSE and NSE, Joint venture for Air Brake Systems & Slack AdjustersSet up a wholly owned subsidiary in Singapore
  • 2009-  Delivered 1st rake of EMUs to Indian Railways , Titagarh Biotec P Ltd. (wholly owned subsidiary) and Titagarh Steels Limited were merged with the Company 
  • 2010-  Set up a subsidiary (Titagarh Wagons AFR (TWA)) in France and acquired assets and business of a Wagon/Rolling Stock manufacturing unit in France with capacity to manufacture 5000 wagons.  TWA has strong design, research & development competencies
  • 2012- Titagarh Marine Ltd (TML) has become a subsidiary of Titagarh Wagons Ltd.
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