We did a detailed analysis of Titagarh Wagons and we believe this company is expected to see some “ache din” going forward.
The company operates in 3 segments. Revenue and order breakup as follows:
TWL has more than 10k crores in order book. Additionally, it was declared L2 and L1 bidder in 2 new projects.
Financials have been improving consistently over the last few years and we expect this to continue in the future as well:
Similarly we can see an improvement in efficiency and return ratios as well.
Our thought process on valuation as follows:
To summarise our investment thesis is as follows.
Technically speaking the Stock (TWL) has given an ATH breakout. This ATH was first seen in 2008, so it is a very old ATH. The volumes are also reasonably good. I hope to see the stock in trend now.
disc: we are already invested in this company along with our clients and hence we maybe biased.
This is not a buy/sell recommendation. Please consult your advisor before investing.
Ujjawal Kumar
Founder & CIO – WealthCulture
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