Titagarh Rail Systems has announced plans to enters the strategic space of shipbuilding and maritime systems, in an effort to enhance its strong presence in railway related manufacturing, a company statement said on February 3.
The company announced the addition of a new business vertical for Shipbuilding and Maritime Systems, wherein it will undertake "marine business including shipbuilding, ship repair and other maritime business activities."
The railway wagon maker has also set up a new business vertical for 'signaling and safety systems' for railways. "This segment focuses on railway operations, particularly in ensuring safety and efficiency and will involve development and installation of products that enables smooth and secure train operations," said Titagarh Rail.
Titagarh also announced that it is assigning Anil Kumar Agarwal, Deputy Managing Director and CEO of Freight Rail Systems vertical to Deputy Managing Director (DMD) of the company. Saket Kandoi, Director (Freight Rolling Stock) has been given the responsibility of the Maritime business, and designated as Director & CEO (Maritime).
The diversification complements Titagarh's presence in rail systems manufacturing, along with its plans to broaden footprint and leverage expertise into new domains. The company has been expanding its wagon capacity, and had said that by Q1FY26, the foundry capacity will be able to manufacture 1,000 wagons per month. The company had said it planned to get aggressive in order booking and from Calendar Year 2025, it will be looking at 'building up order book to the next levels'.
With the maritime foray, the company aims to compete with the likes of Mazagon Dock, Cochin Shipyard and Garden Reach.
Titagarh Rail has a market capitalization of Rs 12,200 crore, and the shares of the company are down 10% in last one year, and over 17% since the start of 2025. There was a sharp selloff in the shares of the company on Budget Day on February 1, possibly due to a muted capex announcement.
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