Titagarh Rail receives LoA for ₹91 crore order from Banaras Locomotive Works

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REUTERS/Adnan Abidi

)

Titagarh Rail Systems has received a Letter of Acceptance (LoA) for a ₹91.12 crore order for the shell assembly for locomotives from the Banaras Locomotive Works.

The company, in an exchange filing released on August 23, said it has managed to bag the order for the complete shell assembly for WAG-9HC locomotives. This order is expected to be executed by August 31, 2026.

This order comes on the back of another order that the Kolkata-based company bagged a Letter of Intent from the government-owned shipbuilding company, Garden Reach Shipbuilders.

The company, in an earlier filing, had said that it won a letter of intent from Garden Reach Shipbuilders and Engineers Ltd. to construct two ship vessels for ₹467.25 crore.

In the statement, the company further added that the said vessels will be built for GRSE and are intended to be used by the Geological Survey of India (GSI).

Read Also: Titagarh Rail shares decline after ₹467 crore order win from GRSE, exit from F&O ban

While speaking to CNBC-TV18 in an interview earlier this year, Umesh Chowdhary, Vice Chairman and Managing Director of Titagarh Rail Systems, harped on the importance of the freight division and said that the freight division is expected to deliver volumes of up to 12,000 wagons this year, each priced between ₹35–40 lakh, while the company is also betting on a “quantum jump” in revenue from the passenger side.

When we take a look at the performance of the company shares, Titagarh stock price closed for Friday's session in green, with gains of ₹1.90 or 0.22%.

However, in the past month of trade, the company shares have witnessed a decline of 7.03%, or ₹64.85. The current share price stands at ₹857 per share.

Read Also: Titagarh Rail eyes strong revenue, margin recovery in FY26: Umesh Chowdhary