Titagath Wagon sees growth in all biz segments
Titagarh Wagons Ltd was witnessing growth in specialised business and was optimistic about revival in wagon orders in the next few years.
“The specialised business segments is progressing well. In the wagon business, we hope revival in the next few years,” Titagarh Wagons vice-chairman and managing director of Umesh Chowdhary said on the sidelines of the AGM.
Wagon orders remained muted since the last few years but the trend seems to be reversing. This year government has come out with tender for only 10,000 wagons, officials said.
Metro coach, shipbuilding, defence will be big business in the years to come.
Chowdhary said it has decided to rename its Italian metro and electric coach subsidiary after the exit of Adler Plastic SpA, offloading 10 per cent stake in favour of the Titagarh group.
“Consolidation will help us better control in the business which caters to passenger coach,” he said.
Italian firm Titagarh Firema has now become a wholly owned subsidiary of Titagarh Wagons. The latter holds 1.8 per cent directly in Titagarh Firema and the remaining 98.2 per cent through Titagarh Singapore.
Chowdhary said overseas order book remains strong for the next 12-13 months.
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