Multibagger stock with Rs 27,890 crore order book gains traction among investors in the pre-opening session today; hits back-to-back 52-week highs!
The stock gave multibagger returns of 130 per cent in just 3 months whereas BSE small-cap Index is up by 5.16 per cent and gained over 400 per cent in 1 year.
Today, shares of Titagarh Rail Systems Ltd surged 4.22 per cent, reaching a new 52-week high of Rs 827.95 per share, up from its previous closing of Rs 794.45. In recent trading sessions, the stock has been hitting back-to-back 52-week highs.
Earlier, the company announced its Quarterly Results, showing that net sales increased by 110.89 per cent to Rs 910.76 crore, operating profit increased by 123.73 per cent to Rs 110 crore, and net profit increased by 5,040 per cent to Rs 61.78 crore in Q1FY24 compared to Q1FY23. The order book stands at Rs 27,890 crore as of June 30, 2023 (Passenger Rolling Stocks orders amounting to Rs 12,716 crore and Freight Rolling Stocks orders amounting to Rs 6,300 crore).
In FY23, net sales increased by 44 per cent to Rs 2,780 crore compared to FY22. The company reported a net profit of Rs 126 crore in FY23, compared to a net loss of Rs 1 crore in FY22. The company has reduced its debt and delivered a strong profit growth of 24.1 per cent CAGR over the last 5 years.
Titagarh Rail Systems Ltd., also known as Titagarh Wagons Ltd., a leading railway wagon company in India, mainly manufactures and sells freight wagons, passenger coaches, metro trains, train electricals, steel castings, specialized equipment and bridges, ships, etc. Titagarh Wagons has received multiple orders for metro coaches, wagons, and trainsets in recent months. The company is also expanding its capacity and setting up component facilities in both operating segments.
DSIJ’s 'multibagger Pick’ service recommends well-researched multibagger stocks with High Returns potential. If this interests you, do download the service details here.
The stock provided multibagger returns of 130 per cent in just 3 months, whereas the BSE Small-Cap Index is up by 5.16 per cent and has gained over 400 per cent in 1 year. Do you own this railway wagon stock in your portfolio?
Disclaimer: This article is for informational purposes only and not intended as investment advice.