Titagarh Rail Systems gains 4% as company start exporting traction converters to Italy

Titagarh Rail Systems informed the stock exchanges in a filing on July 23 that it has commenced the export of traction converters. The company said that the first batch consisting of eight traction converters was shipped to Titagarh Firema SpA, Italy, on July 19. Titagarh Firema is a part of the Titagarh group and operates in Italy.

The Kolkata-based company said that the export is part of a €7.18 million (approx. ₹65 crore) order received by TRSL from Titagarh Firema. As a part of the order, TRSL will supply traction converters for the first batch of 11 trains to the Regione Lazio Viterbo line, operating at 3 KV and the Regione Lazio Lido line, operating at 1.5 KV.

Titagarh Firema received an order from Regione Lazio, Italy, to design, manufacture, and supply 38 train sets with a design speed of 100 mph and a total value of nearly €276 million.

TRSL informed the bourses that it plans to ship two train sets, or eight converters, each month to complete the order.

Titagarh India passenger rolling stock facility currently manufactures 25 converters per month and plans to double that capacity to 50 converters per month. The company also plans to increase its manufacturing capacity for Mainline Electric Multiple Unit (MEMU) and Electric Multiple Unit (EMU) converters.

Titagarh Rail Systems is a comprehensive mobility solution provider with a strong presence in India and Italy. The company has factories in India and Italy and builds semi-high-speed trains, urban metros, passenger coaches, propulsion systems, and a range of wagons.

Titagarh Rail Systems shares closed 3.03% higher at ₹1,636 apiece on the NSE.