Revenue from operations zoomed 110% to Rs 910.76 crore in the Q1 FY24 from Rs 433.71 crore recorded in the corresponding quarter previous year.

Profit before tax surged to Rs 90.05 crore in the first quarter of FY24 as against Rs 29.13 crore posted in Q1 FY23.

EBITDA in Q1 FY24 stood at Rs 106.11 crore, registering a growth of 158% from Rs 41.09 crore reported in Q1 FY23. EBITDA margin improved to 11.65% in Q1 FY24 as compared to 9.47% recorded in Q1 FY23.

The company's revenue from freight rail system was at Rs 746.08 crore (up 112.45% YoY) and passenger rail system stood at Rs 164.68 crore (up 99.56% YoY) during the period under review.

The wagon maker said that the order book stood at Rs 27,890 crore. The order book is well diversified across the different segments of the company and going forward the revenue mix of the company will undergo a substantial change with the increase of share of passenger rail systems.

Umesh Chowdhary, vice chairman and managing director, said, Our active participation in diverse tenders for segments such as Passenger Rolling Stock & Freight Rolling Stock has paid off as a business strategy. The Dedicated Freight Corridor will be a driving force behind the growth of the Freight Rolling Stock industry in the country boosted also by the commitment of the Railways on expanding infrastructure. This development is expected to significantly contribute to the company's growth trajectory. Additionally, the company has a strong position in the Passenger Rolling Stock segment, benefitting from the visionary initiatives under the leadership of the Hon'ble Prime Minister of India.”

Titagarh Rail Systems (formerly known as Titagarh Wagons) is the largest private sector manufacturer of wagons and an established player in passenger coaches.