HDFC Bank Ltd.

ICICI Bank Ltd.

ITC Ltd.

Reliance Industries Ltd.

Tata Motors Ltd.

Titagarh Wagons, incorporated in 1997, is primarily engaged in the manufacturing of railway wagons. It is one of the leading private sector wagon manufacturers in India. The company has received certifications for its quality management such as ISO 9001: 2000 and BS EN ISO 9001:2000. The rating agency CRISIL has upgraded the rating of TWL from 'A 1' to 'A 1+' i.e. 'Positive'.

Currently, the company is engaged in manufacturing of railway wagons, bailey bridges, heavy earth moving and mining equipment, steel and SG iron castings of moderate to complex configuration. The company also manufactures products for the Indian defence establishment, such as special wagons, shelters and other engineering equipments.

In its initial year, the company started the development of the prototype of BOXN Wagon. Immediately next year the company was awarded an order from Indian Railway to manufacture BOXN and BCNA type wagons. In 2000 there was addition of new type of wagon i.e. BOBYN.

In the year 2001, Titagarh Wagons started its Bailey bridge division. The company started manufacturing of BOBRN type wagon. In 2002 the company despatched its first set of components of Bailey bridges.

Products

Wagon- The company manufactures range of wagons such as hopper wagon, covered wagon, open top wagon, container flat wagon, tank wagon, flat wagon and special purpose wagon.

Heavy Earth Moving and Mining Equipment- Under this the company manufactures hydraulic excavator and crawler mounted crane.

Foundry- Under this company manufactures bogies and couplers.

Rail Coach- Titagarh Wagons manufactures rail coaches for metro systems. It is planning to develop coaches for metro systems setting up at Mumbai, Hyderabad and Bangalore.

The company is also engaged in undertaking special projects such as developing Bailey bridges, other modular steel bridges and equipments for nuclear power and defence sector.

Market Cap	2,849 Cr	ROE	-0.1%
P/E Ratio(TTM)	40.1	EPS(TTM)	0.0
P/B Ratio	3.1	Dividend Yield	0.0%
Industry P/E	80.5	Book Value	76.2
		Face Value	2.0

Fundamentals