Titagarh Wagons Ltd (TWL), one of the leading private sector wagon manufacturers in India, has reported a 108% jump in its net profit at Rs 60.56 crore in the financial year ended March 31, 2008 as against Rs 29.18 crore in the year ago period. The board has recommended dividend of Rs 5 per share for the financial year ending March 31, 2008. Such dividend has been considered even for the shares allotted against the company’s initial public offer (IPO) of equity shares on 9^th April 2008.

Gross Turnover in the financial year ended March 31, 2008, nearly doubled at Rs 640 Cr  as compared to Rs 319 crore in the previous financial year.

Last month, TWL had made an IPO of 23.83 lakh equity shares of Rs.10 each at a premium of Rs.530 per share on 100% book building basis. The company’s shares were listed on the Bombay Stock Exchange and the National Stock Exchange on April 21, 2008.

TWL is primarily engaged in the business of manufacturing railway wagons, Bailey bridges, Heavy Earth Moving and Mining equipment, steel and SG iron castings of moderate to complex configuration.

As on April 1, 2008, the Company has a healthy order book in excess of Rs. 800 Crores.

The company’s project for manufacture of EMUs at Uttarpara (West Bengal) is under commissioning.

Sourced From: Adfactors Public Relations Pvt Ltd