Titagarh Rail Systems (TRSL) impressed in Q1 FY27! **Business Performance:** Consolidated revenue jumped 12.7% YoY to ₹765 Cr, with net profit soaring 23.2% YoY to ₹53 Cr.

Passenger Rail Systems (PRS) hit record high revenue of ₹230 Cr (+197% YoY), now 31% of total, dispatching 30 coaches (+400% YoY). Freight Rail Systems (FRS) shipped 1,284 wagons. **Growth Drivers/Strategy:** TRSL is scaling up PRS capacity and prepping for high-speed trains.

Key moves include a Hyperloop tech collaboration for freight and a ~₹600 Cr expansion for its Falta Shipyard. **Recent Developments:** Total order book is a massive ~₹26,635 Cr (incl.

JV share), featuring 1,771 PRS coaches and ~5,300 FRS wagons.

The Rail Wheel JV's plant is advancing with machining lines active.

A new JV with BHEL for Vande Bharat sleeper train production and 35-year maintenance is on track. **Key Financial Metrics:** Standalone revenue rose 9% YoY to ₹735 Cr, with standalone net profit up 20.9% YoY to ₹52 Cr. **Management Outlook:** Leadership sees strong demand for passenger rail, strategically targeting high-speed rail and shipbuilding export growth.