"Less wagons, less profit—but a massive Vande Bharat order. Is Titagarh gearing up for a comeback?"

🚆 Financial Performance (YoY) - Net Profit: ₹30.86 crore, down 54% from ₹67.01 crore - Revenue: ₹679.3 crore, down 24.8% from ₹903.05 crore - EBITDA: ₹75.1 crore, down 26% - EBITDA Margin: Slight dip to 11.1% from 11.3% 📉 Operational Challenges - Wagon Dispatches: - Q1 FY26: 1,628 wagons - Q4 FY25: 2,455 wagons - Q1 FY25: 2,073 wagons - Drop due to lower supply of wheelsets from Rail Wheel Factory - Company says production has now normalized 📦 Order Book Strength - New Orders in Q1: ₹2,092 crore (ex-GST) - Total Order Book: ₹26,000 crore - Freight Rail SBU: ₹4,114 crore (10,772 wagons) - Metro Coach SBU: ₹3,100 crore (441 coaches) - Vande Bharat (supply portion): ₹9,600 crore (1,280 coaches; Titagarh’s share: ₹4,943 crore) - Traction Motors: 273 units ordered by Indian Railways 📉 Market Reaction - Stock Price: Closed 3.34% lower at ₹776.15 on NSE - YTD Performance: Down 29.75% - 1-Year Performance: Down 46.42% 🟢 Major Support to watch at Rs. 680 🟢Major Resistance at Rs. 860