- Titagarh Rail Systems announced its Q4FY24 results and a dividend of 40 per cent for the previous financial year.
- The company has delivered massive multibagger returns to investors over the last one-to-three year time periods.
- “Recommendation of dividend of 40 per cent (i.e. Re. 0.80) per equity share of Rs. 2 each for the financial year 2023-2024,” said Titagarh Rail Systems in a regulatory filing.
Titagarh Rail Systems announces Q4FY24 results and a 40% dividend, continuing its trend of delivering multibagger returns to investors.
Titagarh Rail Systems Q4 Results
India’s leading freight wagon manufacturer, Titagarh Rail Systems, reported a net profit increase of 64 per cent to ₹79 crore in the March quarter, compared to ₹48 crore in the corresponding period last year. Revenue from operations in the fourth quarter of FY24 rose eight per cent to ₹1,052.4 crore, compared to ₹974.2 crore in the year-ago period. The company’s EBITDA in the March quarter rose 25.7 per cent to ₹120 crore, compared to ₹95.5 crore in the year-ago period.
Executive Appointments and Multibagger Returns
The company’s board announced the re-appointment of Anil Kumar Agarwal as Executive Director and the elevation of Prithish Chowdhary to the position of Deputy Managing Director. The company’s shares have seen a significant surge, with a return of 367 per cent in CY23 alone. Over the past five years, investors have enjoyed a remarkable return of 2,185 per cent on their investments in Titagarh Rail Systems.
Company Overview
Titagarh is India’s first private company for EMU/MEMU coaches and has delivered over 350 top-tier units to Indian Railways since 2007. It offers mobility solutions and makes railway wagons, components, passenger coaches, and metro coaches. In 2019, the company secured its first metro contract in Pune, introducing aluminum-bodied coaches, a novel concept in India.
Conclusion
Titagarh Rail Systems continues to show strong financial performance with impressive Q4FY24 results and a 40% dividend announcement. The company’s multibagger returns and strategic executive appointments position it well for continued growth and investor returns.
