PARIS: Titagarh Wagons strategy to de-risk business and diversify customer base has started to pay off and was the prime reason for good fourth quarter performance said Umesh Chowdhary, VC & MD, Titagarh Wagons in an interview to CNBC-TV18. The revenues in fourth quater (Q4FY15) have gone up 60% to Rs 118 crores on back of pick up in wagon dispatches, while margins have come in at 10 percent.
Profit after tax (PAT) was up 400 percent at Rs 8.8 crore versus Rs 1.7 crore reported a year back (Q4FY14).
According to Chowdhary, synergy with the French company has helped them do away with its dependence of wagon orders from Indian railways alone. The company now also caters to African countries through its hundred percent French subsidiary. The wagons are designed by the French company and are manufactured in India, he added. Titagarh has signed several export contracts for the African market through this subsidiary, Chowdhary said. However, with Suresh Prabhu as Railway Minister, Chowdhary is hopeful of seeing Indian railways transformed, which in turn is likely to benefit the company.
