Net sales more than doubled to Rs 974.22 crore in the fourth quarter from Rs 422.19 crore recorded in the same period last year.

Revenue from Freight Rail Systems was Rs 808.10 crore (up 124.9% YoY) while that from Passenger Rail Systems was Rs 166.11 crore (up 164.4% YoY) during the period under review.

Total expenses in the fourth quarter aggregated to Rs 907.33 crore, up 128.3% YoY. This was primarily on account of higher raw material costs (up 145.6% YoY), higher other expenses (up 82.3% YoY), higher finance costs (up 41.9% YoY) and higher employee expenses (up 29.7% YoY).

The company posted a pre-tax profit of Rs 70.40 crore in Q4 FY23 as compared with pre-tax loss of Rs 19.04 crore in Q4 FY22.

The railway wagon maker recorded a consolidated net profit of Rs 130.20 crore in FY23 as against a net loss of Rs 0.33 crore in FY22. Net sales increased by 89.4% to Rs 2,779.59 crore in FY23 over FY22.

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

The scrip was currently trading 6.04% lower from its 52-week high of Rs 358 hit on 03 May 2023.

On the BSE, 90,773 shares were traded in the counter so far compared with average daily volumes of 40,941 shares in the past two weeks.