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A lot of private sector demands for wagons have started coming in, said Umesh Chowdhary, VC & MD of Titagarh Wagons.
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Since these orders have been won as competitive tenders, the margins will be reasonable and cannot be runaway margins, said JP Chowdhary of Titagarh Wagons.
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Railway related companies are buzzing in trade today after the government approved setting up of Rail Development Authority.
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The defence ministry has announced to award contracts for the development of future infantry combat vehicles. The ordinance factory board will go up against 5 private players in the fight for a 60,000 crore rupee contract.
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In a day or two, Ministry of Defence is likely to choose companies for designing and building protoypes for infantry combat vehicles. The order size for the FICV prototypes contract is worth around Rs 60,000, reports CNBC-TV18.
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Speaking to CNBC-TV18, Umesh Chowdhary, VC &MD of Titagarh Wagons said that the Railways might not be able to achieve its targets due to low procurement rates.
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In May, the company bid for a tender involving 12,000 wagons from Indian Railways, of which the company has received 2,100 wagons worth orders, says Anil Agarwal, CFO of the company.
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JP Chowdhary CEO, CIMMCO believes with easing of the policy and changing the terminology from ‘state-of-art‘ to ‘modern technologies‘, is likely to pave way for the already interested investors to come in.
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Sachin Bhanushali, CEO, Gateway Rail Freight says, support from public private partnership (PPP) and external financing has always been underachieved in the past and meeting financial targets is a serious question now.
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While Titagarh Wagons has not won any order, VC and MD of the company Umesh Chowdhary says for each locomotive that IR buys, it has to buy hundreds of wagons. "So the fallout of this order will be phenomenal, and hence it is a very positive news for the company," he told CNBC-TV18
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In an interview with CNBC-TV18, Umesh Chowdhary, VC & MD of Titagarh Wagons said that a new government tender is expected in the near-term with provision for 17,000 wagons.
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Speaking to CNBC-TV18, Umesh Chowdhary, VC and MD, Titagarh Wagons says Indian railway wagon business does not benefit the company because of the pricing pressure for railways tenders.
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Umesh Chaudhary, Vice Chairman, Titagarh Wagons is happy that the Railway Minister stayed away from making it a populist Budget.
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The French company is into manufacturing wagons and with this acquisition, Titagarh Wagons is now catering to the demands of various European markets, says vice-chairman Umesh Choudhary.
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Umesh Choudhary of Titagarh Wagons thinks that there‘s a little possibility of reducing passenger rail fares, but feels that Railway Minister may introduce variable passenger component.
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Speaking to CNBC-TV18, Umesh Chowdhary, managing director, Titagarh Wagons says the existing FDI that is allowed in railways does not permit inflows in component manufacturing.
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In an interview to CNBC-TV18, Umesh Choudhary, Vice Chairman, Titagarh Wagons says that the company is focussing on new product development to mitigate slowdown in railway business.
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Titagarh Wagons bagged an order worth 39 million euro from the French National Railway Corporation (SCNF) and this has made the company one of the biggest participants in Europe, Umesh Choudhary, vice-chairman Titagarh Wagons told CNBC-TV18.
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Moratorium on new trains will be counter-productive, and railways should look at reduction of freight charges.
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Titagarh Wagons has planned to merge its heavy earth-moving and mining equipment division with a 100 percent subsidiary, Titagarh Cranes. Umesh Choudhary, MD of Titagarh Wagons told CNBC-TV18, it would help the company grow this segment on its own accord.
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Happy about the fresh business his company will get from the Rail Budget, Anil Agarwal, MD of Titagarh Wagons says the announcement of higher outlay in rolling stock procurement would generate some additional revenue for Titagarh.
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AP Verma, director of finance of Kalindee Rail Nirman (Engineers) Ltd spoke to CNBC-TV18 about his hopes from the Railway Budget apart from divulging details of the new deals worth nearly Rs 100 crore the company has bagged.
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In an interview to CNBC-TV18, Umesh Choudhary, managing director of Titagarh Wagons says the the government likely to allocate the long declared 15,000 tenders anytime in November or December.
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In an interview with CNBC-TV18, JP Chowdhary, chairman of Titagarh Wagons said, the traffic growth has been very good, in fact it is little better than expectations. He expects good orders from Indian Railways and private sector as well. Cimmco, he says, has been doing well and is likely to boost the company’s performance this year.
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Umesh Choudhary, MD, Titagarh Wagons in an interview with CNBC-TV spoke about the latest happenings in the company and the road ahead. Titagarh's order book as on March 31 stands at Rs 500 crore and Cimmco's order book is at Rs 250 crore.
