Titagarh Wagons rallies on acquiring infrastructure of Precision Shipyard to expand operations

13 Jan 2022 , 09:52 AM

Titagarh Wagons, a flagship company of Titagarh group, has been building ships for the Indian Navy, National Institute of Ocean Technology etc., in its shipyard located in Titagarh. However, the acquisition of the present infrastructure will enable Titagarh Wagons to substantially enhance its capability and capacity for the ship-building business.

The new land and infrastructure acquired by Titagarh Wagons would remove the biggest constraint that Titagarh Wagons faced of being located North of the Howrah bridge (West Bengal), which was limiting both the water draft and air draft available, due to this Titagarh Wagons was unable to participate in many tenders.

With this acquisition, Titagarh Wagons will be able to functionally merge the two facilities at Titagarh and in Falta in order to cater to a much wider range of specialised ship-building activities. Titagarh Wagons currently has an order book for 18 nos. of ships valued at approx. Rs 400 crore and also building a fast patrol vessel for the Indian Coast Guard under contract from GRSE.

Titagarh Wagons consolidated net profit soared 91% to Rs 5.75 crore on a 8.7% jump in net sales to Rs 459.97 crore in Q2 FY22 over Q2 FY21.

Titagarh Wagons is the largest private sector manufacturer of railway coaches (EMUs, MEMUs) and the largest wagon maker (other than railways).

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