Titagarh Rail Systems Limited (TWL) Fair Value & Analysis
Industrials · IN · Market cap ₹50.8B (≈ $539M) · ISIN INE615H01020
What is Titagarh Rail Systems Limited really worth?
A solid business, but trading 281% above our fair value of ₹228.67.
As of Aug 27, 2026, the fair value of Titagarh Rail Systems Limited is ₹228.67 per share against a price of ₹871.90, so the fair value sits 74% below the price. A model estimate blended from multiple valuation models, recalculated regularly.
Strengths
Risks
For context
Fair value as of: Aug 27, 2026
From 25 valuation models · updated 10 days ago
Share price +2.4% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (₹285.84). The favourable scenario is already priced in.
- Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (₹134.55 to ₹285.84) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 27, 2026.
How to read this chart
60‑month range ₹45.95 – ₹1,860 · fair‑value band ₹134.55 – ₹285.84 · the ₹871.90 price screens above the ₹228.67 fair value. Dashed = 300-day average. As of Aug 27, 2026.
Analysis
Titagarh Rail Systems Limited (TWL) currently trades at ₹871.90, while our model-based Fair Value estimate is ₹228.67, implying the stock looks roughly 281.2% overvalued today. The Quality Score stands at 60/100 (solid quality), in the Industrials sector. Bull case: the Growth Earnings group reads highest at a median of ₹342.52 per share, and 0 of the 25 models we run sit above the ₹871.90 price. Bear case: the Asset-Based group reads lowest at ₹53.96, and 25 of the 25 models stay below the price. Evidence for this calculation is medium.
Over the trailing twelve months, Titagarh Rail Systems Limited generated revenue of ₹27.8B at a net margin of 4.7%. Revenue grew 102.6% year over year. It earns a return on equity of 14.9%. Net debt stands at ₹2.1B. Fundamentals as of Aug 27, 2026
Our scenario range runs from ₹134.55 (bear case) to ₹285.84 (bull case); at ₹871.90, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 10% below its 52-week high and 53% above its 52-week low. For context, the median of 10 Industrials peers we cover trades at −47% fair-value upside, at −74%, TWL screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 25 models by family
Widest divergence: Growth Earnings (₹342.52) versus Dividend Discount (₹0.0300). Highest evidence: EPV (74).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 27, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 56 · Market factors (momentum, volatility) 55
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Titagarh Rail Systems Limited manufactures and sells freight wagons, passenger coaches, and metro trains in India and internationally. It operates through Freight Rolling Stock, Passenger Rolling Stock, and Shipbuilding, Bridge, and Defence segments.
Full company description
Titagarh Rail Systems Limited manufactures and sells freight wagons, passenger coaches, and metro trains in India and internationally. It operates through Freight Rolling Stock, Passenger Rolling Stock, and Shipbuilding, Bridge, and Defence segments. The company offers flat, hopper, tank, box, automobile-carrying, covered, and special purpose wagons; and brake vans. It also provides cast bogies, couplers, draft gears, loco shells, and CMS crossing components. In addition, the company offers passenger rolling stock products, including high speed electric loco, EMU train sets, urban metro rail systems, light rail transport, diesel electric multiple units, body shells, and bogies; and propulsion and electrical equipment, such as traction converters and power electronics, propulsion systems, auxiliary power supply products, electronic equipment, traction motors, train control and monitoring systems, and hardware and software products. Further, it provides re-design, maintenance, assistance and global, repair, inspection and refurbishing, systems and electrical equipment upgrade, exteriors and interiors face-lift, and power upgrading services. Additionally, the company designs and constructs warships, passenger vessels, tugs, and other specialized self-propelled vessels and its components. It also offers modular panel bridges, bailey bridges, unibridges, and matière X bridge and defence products, such as shelters, specialized wagons, EMI/EMS containers, CBRNe equipment, mine ploughs, pressure vessels, and specialized canopies. The company was formerly known as Titagarh Wagons Limited and changed its name to Titagarh Rail Systems Limited in May 2023. Titagarh Rail Systems Limited was incorporated in 1997 and is based in Kolkata, India.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2019 – FY2023 · reported fiscal years
Titagarh Rail Systems Limited reported revenue of ₹27.8B in FY2023 versus ₹16.7B in FY2019, a compound +13.5%/yr. Reported net income was ₹1.3B in FY2023.
TWL screens 281% overvalued. Compare with Union Pacific Corporation →
Peer Group
Railroads · 111 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Railroads median · lower = cheaper
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Railroads stocks, each showing price versus our Fair Value estimate (as of Aug 27, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Union Pacific Corporation UNP | $307.41 | $141.29 | −54% |
| CSX Corporation CSX | $48.99 | $12.62 | −74% |
| Canadian Pacific Kansas City Limited CP | $94.12 | $34.33 | −64% |
| Canadian National Railway Company CNR | C$175.06 | C$92.68 | −47% |
| Norfolk Southern Corporation NSC | $332.96 | $114.36 | −66% |
| Westinghouse Air Brake Technologies Corporation WAB | $297.57 | $144.80 | −51% |
| Beijing-Shanghai High-Speed Railway Co 601816 | ¥4.87 | ¥5.65 | +16% |
| MTR Corporation 0066 | HK$32.04 | HK$17.85 | −44% |
| CRRC Corporation 601766 | ¥5.98 | ¥9.53 | +59% |
| Daqin Railway Co 601006 | ¥4.72 | ¥6.22 | +32% |
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