Shares of Titagarh Wagons have seen soaring returns over the past few years, gaining more than 1000% in just 3 years. From the COVID low of Rs 20.45 recorded in March 2020, the stock has surged 1372%.

It has also returned multiples over the past 1 year, gaining 187% during that time. Meanwhile, the stock is up 35% year-to-date in 2023, posting positive returns in 3 out of 4 months. The index rose 15% in April after increasing 26% in March. However, it fell about 9% in February. In January, the stock rose 2%.

The company is engaged in rail rolling stock, defence, shipbuilding, heavy engineering and infrastructure. It manufactures and sells railroad wagons, steel castings, heavy earth-moving and mining equipment, and baileys. The company operates in three segments: freight rolling stock, passenger rolling stock and shipbuilding, and bridge and defence.

Recently, Bharat Heavy Electricals Ltd (BHEL) and Titagarh Wagons jointly won a new order from the Ministry of Railways to supply 80 Vande Bharat trains. Each train will cost Rs 120 crore, and the total order is Rs 9,600 crore. The order will be completed within 72 months. BHEL is the lead member of the consortium.

Meanwhile, the company’s net profit jumped 2,114% in the December quarter to Rs 32.55 crore from Rs 1.47 crore a year earlier. Its sales also rose by 58.80% to Rs 766.40 crore in Q3FY23 compared to Rs 482.63 crore in Q3FY22.

In FY23, the company posted a loss of Rs 33 lakh compared to Rs 15 crore in FY22. However, its revenue rose 26.97% to Rs 1,930.97 crore in FY23 compared to Rs 1,520.64 crore in FY22.