Titagarh Wagons confirms single-largest order for 24,177 wagons

Titagarh Wagons has received a letter of acceptance (LoA) for manufacturing and supplying 24,177 wagons from Indian Railways worth Rs 7,838 crore plus taxes.

The company said that the order is required to be executed over thirty-nine months. This is the single-largest order since 1997.

Vice-Chairman and Managing Director Umesh Chowdhary said the government had announced to look at doubling freight loading in the next few years, which might lead to the procurement of a much larger number of wagons.

He said that the company is expecting to receive an order for a large quantity, and this order for 24,177 wagons reaffirms the leadership position in this business segment and boosts its financial performance. It would also enable the company to become the most dependable rolling stock products manufacturer.

He added that the company is also trying to develop an export market for freight wagons and transit train businesses. International certification and application for accreditation of services are completed for accepting its products globally.

Chowdhary said that the company had recently opened an office in America and has a significant presence in Europe through our Italian subsidiary involved in transit train manufacturing.

The company will be synergising its Indian and Italian operations to cover the global market for freight wagons and transit businesses.

The company reported a consolidated net loss of Rs 18.79 crore for FY21, while its revenue from operations was Rs 1,520.64 crore.

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