{"id":130714,"date":"2022-06-20T07:29:00","date_gmt":"2022-06-20T11:29:00","guid":{"rendered":"https:\/\/44.250.171.167\/?p=130714"},"modified":"2024-05-17T11:39:05","modified_gmt":"2024-05-17T15:39:05","slug":"titagarh-wagons-limited-q4-fy22-earnings-conference-call-insights","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/titagarh-wagons-limited-q4-fy22-earnings-conference-call-insights\/","title":{"rendered":"Titagarh Wagons Limited Q4 FY22 Earnings Conference Call Insights"},"content":{"rendered":"<p><span class=\"embed-youtube\" style=\"text-align:center; display: block;\"><iframe loading=\"lazy\" class=\"youtube-player\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/x0xDQ9_giw8?version=3&#038;rel=1&#038;showsearch=0&#038;showinfo=1&#038;iv_load_policy=1&#038;fs=1&#038;hl=en-US&#038;autohide=2&#038;wmode=transparent\" allowfullscreen=\"true\" style=\"border:0;\" sandbox=\"allow-scripts allow-same-origin allow-popups allow-presentation allow-popups-to-escape-sandbox\"><\/iframe><\/span><\/p>\n<h2><strong>Key highlights from Titagarh Wagons Limited (<a href=\"https:\/\/44.250.171.167\/symbol\/TWL\/\">TWL<\/a>) Q4 FY22 Earnings Concall<\/strong><\/h2>\n<p><strong>&nbsp;<\/strong><\/p>\n<h3><strong>Management Update:<\/strong><\/h3>\n<ul>\n<li>TWL said the company backed the highest ever wagon order placed in the history of Indian Railways for a basic value of about INR7800 crore and a total value of INR9000 crore plus, taking the order backlog to INR10,00 crore for the Indian operation.<\/li>\n<\/ul>\n<p><strong>&nbsp;<\/strong><\/p>\n<h3><strong>Q&amp;A Highlights:<\/strong><\/h3>\n<p><strong>Abhijeet Dey &#8211; Equentis Portfolio Advisors &#8211; Analyst<\/strong><\/p>\n<ul>\n<li>Average blended margins over three years for the Indian Railways order?<\/li>\n<\/ul>\n<p><strong>Umesh Chowdhary &#8211; MD<\/strong><\/p>\n<ul>\n<li>Average blended margin at EBITDA level in TWL\u2019s business is 8-10%.<\/li>\n<li>With the Indian Railways order, TWL expects the same guidance of 8-10%.<\/li>\n<\/ul>\n<p><strong>&nbsp;&nbsp;<\/strong><\/p>\n<p><strong>Subhankar Ojha &#8211; SKS Capital &#8211; Analyst<\/strong><\/p>\n<ul>\n<li>What\u2019s the bidding order pipeline?<\/li>\n<\/ul>\n<p><strong>Umesh Chowdhary &#8211; MD<\/strong><\/p>\n<ul>\n<li>Has a healthy tender pipeline.\n<ul>\n<li>Demand for metro coaches remain healthy in India.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><strong>&nbsp;<\/strong><\/p>\n<p><strong>Subhankar Ojha &#8211; SKS Capital &#8211; Analyst<\/strong><\/p>\n<ul>\n<li>ROCE generated from overseas operations and the potential earnings for the next 2-3 years?<\/li>\n<\/ul>\n<p><strong>Umesh Chowdhary \u2013 MD<\/strong><\/p>\n<ul>\n<li>Order book of EUR500 million.<\/li>\n<li>In 2022-23, expects to be EBITDA positive.<\/li>\n<li>In 2023-24, expects to be net positive.<\/li>\n<\/ul>\n<p><strong>&nbsp;&nbsp;<\/strong><\/p>\n<p><strong>Vasudev &#8211; Edelweiss &#8211; Analyst<\/strong><\/p>\n<ul>\n<li>Delivery terms of Indian Railways order and the split between FY23, FY24 and beyond.<\/li>\n<\/ul>\n<p><strong>Umesh Chowdhary \u2013 MD<\/strong><\/p>\n<ul>\n<li>To be delivered over 39 months.<\/li>\n<li>25-30% in the first year.<\/li>\n<li>The balance in next two years.<\/li>\n<\/ul>\n<p><strong>&nbsp;&nbsp;<\/strong><\/p>\n<p><strong>Vasudev &#8211; Edelweiss &#8211; Analyst<\/strong><\/p>\n<ul>\n<li>What\u2019s the Pune contract status and the full execution timeframe?<\/li>\n<\/ul>\n<p><strong>Umesh Chowdhary \u2013 MD<\/strong><\/p>\n<ul>\n<li>Barring the COVID delays etc. TWL is on track.<\/li>\n<li>By FY23, the contract to be fully executed.<\/li>\n<\/ul>\n<p><strong>&nbsp;<\/strong><\/p>\n<p><strong>Vasudev &#8211; Edelweiss &#8211; Analyst<\/strong><\/p>\n<ul>\n<li>Demand outlook from the private sector and from DFC wagon ordering perspective.<\/li>\n<\/ul>\n<p><strong>Umesh Chowdhary &#8211; MD<\/strong><\/p>\n<ul>\n<li>The wagon orders placed by Railways includes for DFC.<\/li>\n<li>Private wagon outlook continues to be strong.<\/li>\n<\/ul>\n<p><strong>&nbsp;<\/strong><\/p>\n<p><strong>Vasudev \u2013 Edelweiss &#8211; Analyst<\/strong><\/p>\n<ul>\n<li>FY22 capex?<\/li>\n<\/ul>\n<p><strong>Umesh Chowdhary \u2013 MD<\/strong><\/p>\n<ul>\n<li>Close to INR100 crores, primarily funded out of internal accruals.<\/li>\n<\/ul>\n<p><strong>&nbsp;<\/strong><\/p>\n<p><strong>Panjul Agrawal &#8211; Green Portfolio &#8211; Analyst <\/strong><\/p>\n<ul>\n<li>Reason for other expenses going up 55% YonY.<\/li>\n<\/ul>\n<p><strong>Saurav Singhania &#8211; Group Financial Controller<\/strong><\/p>\n<ul>\n<li>It includes INR35 crores of one-time provision for end of life legacy contracts on consolidated basis.<\/li>\n<\/ul>\n<p><strong>&nbsp;&nbsp;<\/strong><\/p>\n<p><strong>Sreeram Ramdas &#8211; Green Portfolio &#8211; Analyst<\/strong><\/p>\n<ul>\n<li>Reason for Italian subsidiary reporting lower revenues, falling 60% YonY?<\/li>\n<\/ul>\n<p><strong>Umesh Chowdhary \u2013 MD<\/strong><\/p>\n<ul>\n<li>The contract was signed recently.\n<ul>\n<li>The designing and production takes 18-24 months.<\/li>\n<\/ul>\n<\/li>\n<li>Focus in 4Q22 and 1Q23 is to complete the legacy contracts where revenues are much lesser.<\/li>\n<\/ul>\n<p><strong>&nbsp;<\/strong><\/p>\n<p><strong>Sreeram Ramdas &#8211; Green Portfolio &#8211; Analyst<\/strong><\/p>\n<ul>\n<li>Does TWL have capacity to execute all its current orders over the next 3-4 years?<\/li>\n<\/ul>\n<p><strong>Umesh Chowdhary \u2013 MD<\/strong><\/p>\n<ul>\n<li>By and large has the capacity.<\/li>\n<li>If any balancing capacity needs to be created, it will be created.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key highlights from Titagarh Wagons Limited (TWL) Q4 FY22 Earnings Concall &nbsp; Management Update: TWL said the company backed the highest ever wagon order placed in the history of Indian Railways for a basic value of about INR7800 crore and a total value of INR9000 crore plus, taking the order backlog to INR10,00 crore for [&hellip;]<\/p>\n","protected":false},"author":1767,"featured_media":125416,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9825,392,5,12],"tags":[9478],"class_list":["post-130714","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-call-highlights","category-earnings","category-latest","category-other-industries","tag-industirals"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":147412,"url":"https:\/\/alphastreet.com\/india\/titagarh-wagons-limited-q4-fy23-earnings-conference-call-insights\/","url_meta":{"origin":130714,"position":0},"title":"Titagarh Wagons Limited Q4 FY23 Earnings Conference Call Insights","author":"Praveen","date":"May 26, 2023","format":false,"excerpt":"Key highlights from Titagarh Wagons Limited (TWL) Q4 FY23 Earnings Concall \u00a0Q&A Highlights: [00:15:50] Kaushik Mohan from Ashika Stock Broking asked about the Vande Bharat order. Umesh Chowdhary MD said that the Vande Bharat contract has two portions; supply and maintenance. The total contract value, including maintenance, is about INR\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":170053,"url":"https:\/\/alphastreet.com\/india\/titagarh-rail-systems-q1-fy26-earnings-results\/","url_meta":{"origin":130714,"position":1},"title":"Titagarh Rail Systems Q1 FY26 Earnings Results","author":"Chirag Gupta","date":"August 12, 2025","format":false,"excerpt":"Titagarh Rail Systems Ltd (Formerly Titagarh Wagons Limited), incorporated in 1997, is mainly engaged in the manufacturing and selling of Freight Wagons, Passenger Coaches, Metro Trains, Train Electricals, Steel Castings, Specialised Equipments & Bridges, Ships, etc. The company caters to both domestic and export markets. Presenting below are its Q1\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Titagarh Rail System Q1 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/New.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/New.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/New.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/New.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/New.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/New.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":180967,"url":"https:\/\/alphastreet.com\/india\/titagarh-rail-systems-limited-provides-q3-9m-fy26-results-and-business-update\/","url_meta":{"origin":130714,"position":2},"title":"Titagarh Rail Systems Limited Provides Q3 &amp; 9M FY26 Results and Business Update","author":"Staff Correspondent","date":"February 16, 2026","format":false,"excerpt":"About Titagarh Rail Systems Limited Titagarh Rail Systems Limited (NSE: TITAGARH) is an Indian engineering and manufacturing company specializing in railway rolling stock and mobility solutions. Headquartered in Kolkata, West Bengal, the company designs and manufactures freight wagons, passenger coaches, metro trains, propulsion systems, and other railway equipment for domestic\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":149633,"url":"https:\/\/alphastreet.com\/india\/titagarh-rail-systems-ltd-q1fy24-196-rise-in-profits\/","url_meta":{"origin":130714,"position":3},"title":"Titagarh Rail Systems Ltd Q1FY24; 196% rise in Profits","author":"Chirag Gupta","date":"July 24, 2023","format":false,"excerpt":"Titagarh Wagons Limited, incorporated in 1997, is mainly engaged in the manufacturing and selling of Freight Wagons, Passenger Coaches, Metro Trains, Train Electricals, Steel Castings, Specialised Equipments & Bridges, Ships, etc. The company caters to both domestic and export markets. Financial Results: Titagarh Rail Systems Ltd reported Revenues for Q1FY24\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/07\/image-143.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/07\/image-143.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/07\/image-143.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/07\/image-143.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/07\/image-143.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/07\/image-143.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":161325,"url":"https:\/\/alphastreet.com\/india\/titagarh-rail-systems-ltd-q4-fy24-earnings-conference-call-insights\/","url_meta":{"origin":130714,"position":4},"title":"Titagarh Rail Systems Ltd Q4 FY24 Earnings Conference Call Insights","author":"Praveen","date":"May 17, 2024","format":false,"excerpt":"Key highlights from Titagarh Rail Systems Ltd (TITAGARH) Q4 FY24 Earnings Concall Operations Highlights The company achieved its highest ever turnover in FY '24, driven by strong performance in the freight rail systems division. In Q4 FY '24, the company crossed the 1000 wagon per quarter mark for the first\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":147252,"url":"https:\/\/alphastreet.com\/india\/earnings-summary-of-indian-railway-finance-corporation-limited-for-q4-fy23\/","url_meta":{"origin":130714,"position":5},"title":"Earnings Summary Of Indian Railway Finance Corporation Limited For Q4 FY23","author":"Hardik Bhandare","date":"May 24, 2023","format":false,"excerpt":"Indian Railway Finance Corporation Limited (IRFC) is a public sector enterprise established in 1986 under the Ministry of Railways, Government of India. It is the dedicated financing arm of the Indian Railways and plays a crucial role in raising funds for various infrastructure projects and operations of the railway sector.\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/898c572d-b97a-4c10-acd3-c5f4d9ad88be-13-1.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/898c572d-b97a-4c10-acd3-c5f4d9ad88be-13-1.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/898c572d-b97a-4c10-acd3-c5f4d9ad88be-13-1.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/898c572d-b97a-4c10-acd3-c5f4d9ad88be-13-1.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/898c572d-b97a-4c10-acd3-c5f4d9ad88be-13-1.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/898c572d-b97a-4c10-acd3-c5f4d9ad88be-13-1.png?resize=1400%2C800&ssl=1 4x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/130714","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1767"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=130714"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/130714\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/125416"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=130714"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=130714"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=130714"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}