Lower wagon deliveries temper analysts' optimism after India's Titagarh Rail Q1 results
BUZZ-Lower wagon deliveries temper analysts' optimism after India's Titagarh Rail Q1 results ** India's Titagarh Rail Systems TITG.NS Q1 results below street expectations after lower-than-expected delivery of wagons offset gains in passenger rail systems, brokerages note
** Given depleting order book, sees 600-650 wagons per month in FY27--investor call on August 14; Jefferies ("Buy", TP at 990 rupees) expects 12% y/y decline in FY27 wagon sales
** Freight rail systems muted, with 1,284 wagon dispatches in Q1, as production was scaled down to 600–650 vs 1,000 wagons/month capacity--Systematix ("Buy", TP at 980 rupees)
** Freight production curtailed due to tender uncertainty, Systematix says
** TITG shares down 1.89% at 815.60 rupees
** Co reported results on Aug 12, Q1 net profit of 525.8 million rupees vs loss of 231 million rupees in Q1FY26; revenue up 12.7% to 7.65 billion rupees
** YTD, shares down 8.65%
($5.50 million)
(Reporting by Saikeerthi in Bengaluru)
((Saikeerthi@thomsonreuters.com; (+91) 8296756080))
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