Titagarh Rail Systems: Concall & Investor Presentation Summary Report (Q4 FY24)
Titagarh Rail Systems, a leading player in the rail manufacturing sector, has reported robust financial performance in Q4 FY24. This report provides a comprehensive overview of the company's financial results, order book, segmental performance, and future outlook, based on the recent earnings call transcript.
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Financial Performance
1- Q4 FY24 vs Q4 FY23: Consolidated Results
- Revenue: ₹1,052 crores, reflecting an 8.03% YoY increase.
- EBITDA: ₹120 crores, a substantial rise of 25.75% YoY.
- Profit Before Tax (PBT): ₹112 crores, marking a significant 48.99% YoY growth.
- Profit After Tax (PAT): ₹83 crores.
2- Full Year FY24 vs FY23: Consolidated Results
- Revenue: ₹3,853 crores, demonstrating a 39% YoY increase.
- EBITDA: ₹452 crores, showcasing a remarkable 71% YoY rise.
- Profit Before Tax (PBT): ₹397 crores, nearly doubling with a 94% YoY increase.
- Profit After Tax (PAT): ₹297 crores.
3- Segmental Performance
Freight Rolling Stock
- Revenue: ₹1,017 crores, an increase of 25.87% YoY.
- PBIT: ₹128 crores, a significant 50.59% YoY growth.
- Margin: 12.59%, up from 10.52% in the previous year.
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4- Passenger Rolling Stock
- Revenue: ₹36 crores, reflecting a decrease of 78.61% YoY.
- PBIT: ₹0.75 crores, a substantial decrease of 92.54% YoY.
- Margin: 2.08%, down from 6.02% in the previous year.
5- Order Book
- Total Order Book: ₹14,750 crores.
- Joint Ventures Order Book: ₹13,326 crores.
6- Future Outlook
Titagarh Rail Systems is well-positioned for future growth, with significant projects in the pipeline, including:
- Bangalore Metro (CRRC)
- Surat/Ahmedabad Metro
- Vande Bharat Trains
These projects are expected to commence deliveries shortly, providing enhanced revenue visibility and margin expansion in the near future.
Key Highlights
- CAGR Growth (5 years):
- Revenue: 21.02%
- EBITDA: 28.50%
- PBT: 44.51%
- Earnings Per Share (EPS): ₹23.30 for FY24, a significant 170% YoY increase.
Conclusion
Titagarh Rail Systems has demonstrated a strong financial performance in Q4 FY24, marked by substantial revenue growth, improved profitability, and a robust order book. The company's strategic projects and sound financial health position it well for sustained growth and profitability in the coming years. This detailed, data-driven analysis highlights Titagarh Rail Systems as a formidable player in the rail manufacturing sector.
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