Integrated Filing — IndAS



General information about company
Scrip Code 532966
NSE Symbol TITAGARH
MSEI Symbol NOTLISTED
ISIN INE615H01020
Name of company TITAGARH RAIL SYSTEMS LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-Apr-2024
Date of end of financial year 31-Mar-2025
Date of board meeting when results were approved 30-May-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 27-May-2025
Description of presentation currency INR (in Actuals)
Reporting Type Quarterly
Reporting Quarter Fourth quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Multi segment
Description of single segment
Start date and time of board meeting 30-May-2025   16:30:00
End date and time of board meeting 30-May-2025   23:00:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Statement on impact of audit qualification



Financial Results Ind-AS
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Jan-2025 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
Part I Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1 Income
Revenue from operations 10055700000 38677500000
Other income 298600000 753500000
Total income 10354300000 39431000000
2 Expenses
(a) Cost of materials consumed 7695800000 29649100000
(b) Purchases of stock-in-trade 0 0
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade -237500000 -360600000
(d) Employee benefit expense 280200000 868900000
(e) Finance costs 220600000 731500000
(f) Depreciation, depletion and amortisation expense 84300000 295800000
(f) Other Expenses
1 Other Expenses 1300000000 4189700000
Total other expenses 1300000000 4189700000
Total expenses 9343400000 35374400000
3 Total profit before exceptional items and tax 1010900000 4056600000
4 Exceptional items 0 0
5 Total profit before tax 1010900000 4056600000
6 Tax expense
7 Current tax 201100000 996300000
8 Deferred tax 73700000 70500000
9 Total tax expenses 274800000 1066800000
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0 0
11 Net Profit Loss for the period from continuing operations 736100000 2989800000
12 Profit (loss) from discontinued operations before tax -3200000 -1400000
13 Tax expense of discontinued operations 0 0
14 Net profit (loss) from discontinued operation after tax -3200000 -1400000
15 Share of profit (loss) of associates and joint ventures accounted for using equity method -88400000 -239200000
16 Total profit (loss) for period 644500000 2749200000
17 Other comprehensive income net of taxes -16400000 -13200000
18 Total Comprehensive Income for the period 628100000 2736000000
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent
Total profit or loss, attributable to non-controlling interests
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 628100000 2736000000
Total comprehensive income for the period attributable to owners of parent non-controlling interests 0 0
21 Details of equity share capital
Paid-up equity share capital 269300000 269300000
Face value of equity share capital 2 2
27 Details of debt securities
22 Reserves excluding revaluation reserve 0
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 4.81 20.42
Diluted earnings (loss) per share from continuing operations 4.8 20.4
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations -0.02 -0.01
Diluted earnings (loss) per share from discontinued operations -0.02 -0.01
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 4.79 20.41
Diluted earnings (loss) per share from continuing and discontinued operations 4.78 20.39
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results



Remarks
Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities
Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-Apr-2024
Date of end of reporting period 31-Mar-2025
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 8308200000
Capital work-in-progress 396100000
Investment property 82100000
Goodwill 0
Other intangible assets 1527700000
Intangible assets under development 823700000
Biological assets other than bearer plants
Investments accounted for using equity method 2468000000
Non-current financial assets
Non-current investments 524000000
Trade receivables, non-current
Loans, non-current 0
Other non-current financial assets 802200000
Total non-current financial assets 1326200000
Deferred tax assets (net) 263000000
Other non-current assets 636100000
Total non-current assets 15831100000
2 Current assets
Inventories 5233300000
Current financial asset
Current investments 0
Trade receivables, current 6708500000
Cash and cash equivalents 252700000
Bank balance other than cash and cash equivalents 4421300000
Loans, current 0
Other current financial assets 1424600000
Total current financial assets 12807100000
Current tax assets (net)
Other current assets 3751400000
Total current assets 21791800000
3 Non-current assets classified as held for sale 0
4 Regulatory deferral account debit balances and related deferred tax Assets 0
Total assets 37622900000
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 269300000
Other equity 24560400000
Total equity attributable to owners of parent 24829700000
Non controlling interest 11800000
Total equity 24841500000
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 249300000
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises
Total Trade payable
Other non-current financial liabilities 929000000
Total non-current financial liabilities 1178300000
Provisions, non-current 64900000
Deferred tax liabilities (net) 187500000
Deferred government grants, Non-current 0
Other non-current liabilities 374600000
Total non-current liabilities 1805300000
Current liabilities
Current financial liabilities
Borrowings, current 5044100000
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 433400000
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 1916700000
Total Trade payable 2350100000
Other current financial liabilities 450000000
Total current financial liabilities 7844200000
Other current liabilities 2810500000
Provisions, current 247900000
Current tax liabilities (Net) 73500000
Deferred government grants, Current 0
Total current liabilities 10976100000
3 Liabilities directly associated with assets in disposal group classified as held for sale
4 Regulatory deferral account credit balances and related deferred tax liability
Total liabilities 12781400000
Total equity and liabilites 37622900000
Disclosure of notes on assets and liabilities



Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-Jan-2025 01-Apr-2024
Date of end of reporting period 31-Mar-2025 31-Mar-2025
Whether accounts are audited or unaudited Audited Audited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
1 Freight Rail Systems 9152600000 36102700000
2 Passenger Rail Systems 903100000 2574800000
Total Segment Revenue 10055700000 38677500000
Less: Inter segment revenue
Revenue from operations 10055700000 38677500000
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
1 Freight Rail Systems 1075500000 4376400000
2 Passenger Rail Systems 33300000 152300000
Total Profit before tax 1108800000 4528700000
i. Finance cost 72400000 72400000
ii. Other Unallocable Expenditure net off Unallocable income 114000000 114000000
Profit before tax 922400000 3817100000
3 (Segment Asset - Segment Liabilities)
Segment Asset
1 Freight Rail Systems 17343500000 17343500000
2 Passenger Rail Systems 9075700000 9075700000
Total Segment Asset 26419200000 26419200000
Un-allocable Assets 11203700000 11203700000
Net Segment Asset 37622900000 37622900000
4 Segment Liabilities
Segment Liabilities
1 Freight Rail Systems 4055300000 4055300000
2 Passenger Rail Systems 2635200000 2635200000
Total Segment Liabilities 6690500000 6690500000
Un-allocable Liabilities 6090900000 6090900000
Net Segment Liabilities 12781400000 12781400000
Disclosure of notes on segments



Other Comprehensive Income
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Jan-2025 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Remeasurement (gains) / loss on defined benefit plans -18700000 -19600000
2 Tax expenses on above 4700000 4900000
Total Amount of items that will not be reclassified to profit and loss -14000000 -14700000
2 Income tax relating to items that will not be reclassified to profit or loss 0 0
3 Amount of items that will be reclassified to profit and loss
1 Net Gain/ (Loss) on Foreign Currency Translation Differences 2400000 1500000
2 Fair value change of cash flow hedges -6400000 0
3 Tax expenses on above 1600000 0
Total Amount of items that will be reclassified to profit and loss -2400000 1500000
4 Income tax relating to items that will be reclassified to profit or loss 0 0
5 Total Other comprehensive income -16400000 -13200000



Cash flow statement, indirect
Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-Apr-2024
B Date of end of reporting period 31-Mar-2025
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Consolidated
Part I Blue color marked fields are non-mandatory.
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 4056600000
Adjustments for reconcile profit (loss)
Adjustments for finance costs 731500000
Adjustments for decrease (increase) in inventories 4000000
Adjustments for decrease (increase) in trade receivables, current -1397100000
Adjustments for decrease (increase) in trade receivables, non-current 0
Adjustments for decrease (increase) in other current assets -1064100000
Adjustments for decrease (increase) in other non-current assets 0
Adjustments for other financial assets, non-current 0
Adjustments for other financial assets, current 0
Adjustments for other bank balances 0
Adjustments for increase (decrease) in trade payables, current -859900000
Adjustments for increase (decrease) in trade payables, non-current 0
Adjustments for increase (decrease) in other current liabilities 0
Adjustments for increase (decrease) in other non-current liabilities -1268300000
Adjustments for depreciation and amortisation expense 295800000
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0
Adjustments for provisions, current 194400000
Adjustments for provisions, non-current 0
Adjustments for other financial liabilities, current 0
Adjustments for other financial liabilities, non-current 0
Adjustments for unrealised foreign exchange losses gains -22500000
Adjustments for dividend income 0
Adjustments for interest income 515400000
Adjustments for share-based payments 0
Adjustments for fair value losses (gains) -153800000
Adjustments for undistributed profits of associates 0
Other adjustments for which cash effects are investing or financing cash flow 0
Other adjustments to reconcile profit (loss) 0
Other adjustments for non-cash items 0
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0
Total adjustments for reconcile profit (loss) -4055400000
Net cash flows from (used in) operations 1200000
Dividends received 0
Interest paid 0
Interest received 0
Income taxes paid (refund) 957800000
Other inflows (outflows) of cash -17500000
Net cash flows from (used in) operating activities -974100000
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0
Cash flows used in obtaining control of subsidiaries or other businesses 0
Other cash receipts from sales of equity or debt instruments of other entities 0
Other cash payments to acquire equity or debt instruments of other entities 0
Other cash receipts from sales of interests in joint ventures 0
Other cash payments to acquire interests in joint ventures 1078000000
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0
Proceeds from sales of property, plant and equipment 59100000
Purchase of property, plant and equipment 2195300000
Proceeds from sales of investment property 0
Purchase of investment property 0
Proceeds from sales of intangible assets 0
Purchase of intangible assets 164900000
Proceeds from sales of intangible assets under development 0
Purchase of intangible assets under development 0
Proceeds from sales of goodwill 0
Purchase of goodwill 0
Proceeds from biological assets other than bearer plants 0
Purchase of biological assets other than bearer plants 0
Proceeds from government grants 0
Proceeds from sales of other long-term assets 8360500000
Purchase of other long-term assets 11065700000
Cash advances and loans made to other parties 0
Cash receipts from repayment of advances and loans made to other parties 0
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0
Dividends received 0
Interest received 296300000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) investing activities -5788000000
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0
Payments from changes in ownership interests in subsidiaries 0
Proceeds from issuing shares 0
Proceeds from issuing other equity instruments 0
Payments to acquire or redeem entity's shares 0
Payments of other equity instruments 0
Proceeds from exercise of stock options 0
Proceeds from issuing debentures notes bonds etc 0
Proceeds from borrowings 4748600000
Repayments of borrowings 125100000
Payments of lease liabilities 155700000
Dividends paid 107700000
Interest paid 636600000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) financing activities 3723500000
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes -3038600000
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 1500000
Net increase (decrease) in cash and cash equivalents -3037100000
Cash and cash equivalents cash flow statement at beginning of period 3289800000
Cash and cash equivalents cash flow statement at end of period 252700000





Details of Impact of Audit Qualification
Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Statement on impact of audit qualification
Auditor's opinion Qualified opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 Price Waterhouse & Co, Chartered Accountants LLP Yes 30-Nov-2026
2 M/s Salarpuria & Partners, Chartered Accountants Yes 31-Aug-2025


Financial details
Sr. Particulars Audited Figures (as reported before adjusting for qualifications) Adjusted Figures (audited figures after adjusting for qualifications)
1 Turnover / Total income 39431000000 39431000000
2 Total Expenditure 35374400000 35374400000
3 Net Profit/(Loss) 2749200000 2749200000
4 Earnings Per Share 20.42 20.42
5 Total Assets 37622900000 37622900000
6 Total Liabilities 12781400000 12781400000
7 Net Worth 24841500000 24841500000


Audit qualification
Sr. Details of Audit Qualification Type of Audit Qualification Frequency of qualification For Audit Qualification(s) where the impact is quantified by the auditor For Audit Qualification(s) where the impact is not quantified by the auditor
Management's Views (i) Management's estimation on the impact of audit qualification (ii) If management is unable to estimate the impact, reasons for the same Auditors' Comments on (i) or (ii) above


Text Block


Signatories detail
Name of CEO / Managing director Umesh Chowdhary
Name of CFO Saurav Singhania
Name of audit committee chairman Atul Joshi
Name of statutory auditor Price Waterhouse & Co, Chartered Accountants LLP
Name of other signatory, if any, with designation M/s Salarpuria & Partners, Chartered Accountants
Place Kolkata
Date 30-May-2025