Titagarh Wagons has received a letter of acceptance for an order for the manufacture and supply of 24,177 wagons from Indian Railways. The total value of the contract is Rs 7,838 crore plus taxes.

 The company said this was the single largest order it has secured since its incorporation in July 1997. It further consolidated the group’s position as the leader in wagon manufacturing in India. The government had earlier announced that it would be looking at doubling freight loading in the next few years, which was expected to procure a much larger number of wagons. This order for 24,177 wagons reaffirms the leadership position of Titagarh in this business segment. It would increase the company’s topline, boost its financial performance, and enable the group to become the most dependable manufacturer of rolling stock products.

The company is also trying to develop an export market for freight wagons and transit train business. International certification and application for accreditation of services have already been completed for broader acceptance of its products globally. The company had posted a net loss of Rs 18.79 crore for FY21 on a consolidated basis, while its revenue from operations was Rs 1,520.64 crore.