Titagarh Rail Systems Ltd

Titagarh Wagons Limited (TWL) was established on July 03, 1997. The Company is mainly engaged in the manufacturing and selling of Freight Wagons, Passenger Coaches, Metro Trains, Heavy Earthmoving and Mining Equipments, Train Electricals, Steel Castings, Specialised Equipments Bridges, Ships, Bailey Bridges, EMU, etc. The above said products and services are structured along five broad business lines, Wagon Manufacture, Heavy Earth Moving Mining Equipment, Foundry Division, Rail Coach Division and Special Projects. The company also entered into production of special purpose wagons to suit the varying needs of customers, such as the MerryGoRound (MGR) wagons and Special Wagons for Defence etc. TWL, is the only private company registered with the Ministry of Defence, Government of India to manufacture Bailey bridges and other related accessories in India. The companys WheelonWheels (WoW) wagon has specifically been designed, to enable it to carry various types of trucks, catering to the needs of the logistics industry by providing a Rollon Rolloff service. TWL have a subsidiary company named as Titagarh Biotec Private Limited, incorporated on July 20, 2004. Titagarh Biotec Private Limited is primarily engaged in the business of cultivating, producing, buying and selling all kinds of agricultural and 2 forests produce and engaged in biotech activities for processing and preservation of agriculture and forest produce. The company acquired the Heavy Engineering Division of Hyderabad Industries Limited under the Business Transfer Agreement dated April 4, 2005. The purchase included a manufacturing unit in Uttarpara, West Bengal spread over an area of approximately 35 acres with a steel foundry, a fabrication cum machining facility and access to a rail siding along with some specified liabilities (Uttarpara unit). During the year 2006, the company has supplied 88 Bailey bridges as well as related spares. TWL have one of the highest manufacturing capacity ratings given by Ministry of Defence (CQAE), being 72 bridges per annum.The company and JP Morgan Mauritius entered into a cooperation and funding agreement for acquisition, revival and rehabilitation of the sick Cimmco Birla Ltd (CBL) part of the S.K. Birla Group to BIFR Cimmco with the consideration of Rs 35 crore and also entered into a compromise deed with the unions of Cimmco. TWL entered a Joint Venture Agreement with FreightCar Inc America entered into for a Joint Venture Company for manufacture of Aluminium Rail Cars. As of March 2008, Titagarh Wagon was entered into the capital market with its Initial Public Offering (IPO) of 23,83,768 shares. TWL is in the process of expanding its capacities, including setting up Rs 18.7crore EMU manufacturing unit with a capacity to produce two rakes of EMUs per month. It also plans to invest another Rs 18.84 crore to modernise and expand its two existing plants at Titagarh and Uttarpara in West Bengal, apart from setting up an axle machining and wheelset assembly facility at a cost of Rs 12.93 crore. Titagarh Wagons Limited aspires to be a leader as a manufacturer of heavy engineering equipment and a worldclass service provider for the infrastructure sector, to be known as a dependable and preferred partner for growth in line with a national perspective plan.Pursuant to Order dated May 17, 2016 of the Honble High Court of Calcutta becoming effective on and from July 13, 2016, the wholly owned subsidiaries, Cimco Equity Holdings Private Limited, Titagarh Marine Limited, Corporated Shipyard Private Limited and Times Marine Enterprises Private Limited were amalgamated with Company.During the year 2016, the Company along with its wholly owned subsidiary company, Titagarh Singapore Pte Limited formed a subsidiary company in Italy in the name of Titagarh Firema Adler SpA (TFA) and consequently, acquired the business of Firema Trasporti SpA, a designer and manufacturer of metro coaches and semi / high speed trains.On 22 April, 2017 the Company launched a first wagon, special freight train operation (SFTO) carrying steel coils at Uttarpara unit in West Bengal. It launched the first weighing 1000 Tonnes fuel barge ship for Indian Navy on the 17th May, 2018. The Honble National Company Law Tribunal (NCLT), Kolkata Bench, by an Order passed on 16th October, 2017 sanctioned the Scheme of Amalgamation of Titagarh Agrico Private Limited (TAPL), a wholly owned subsidiary of the Company with Cimmco Limited w.e.f. the Appointed Date: 1st April, 2016. Upon filing the said Order, TAPL , which was earlier the Companys subsidiary, amalgamated with Cimmco and accordingly, ceased to be a subsidiary of the Company. Titagarh Mermec Private Limited, a Joint Venture was set up in India on 18th July, 2018 with equal stake in its equity of Mermec SpA, Italy (Mermec) and Company, for marketing, manufacturing and selling diagnostic and signalling systems for railway infrastructure and auxiliary products and equipment parts in the Territories of India, Nepal, Bangladesh, Myanmar, Bhutan and Sri Lanka.The Honble National Company Law Tribunal, Kolkata Bench, by an Order dated 30th September, 2020 had sanctioned the Scheme of Amalgamation of Cimmco Limited, the Companys subsidiary, and Titagarh Capital Private Limited, the Companys whollyowned subsidiary, with the Company which became effective from the Appointed Date of the Scheme i.e., 1st April, 2019.During the year 2019, the group derecognised the entire assets liabilities of Companys erstwhile whollyowned Subsidiary in France, Titagarh Wagons AFR (TWA), w.e.f. 4th June, 2019 being the date when the start of the Rehabilitation Procedure was approved by the said Court.The Company acquired the shares held by Matiere SAS, France, representing 50% of the paidup share capital of Matiere Titagarh Bridges Private Limited (MTBPL). As a result, the shareholding of the Company in MTBPL changed from 50% to 100% and MTBPL became a whollyowned subsidiary of the Company w.e.f. 14th July, 2020.During November 2020, the Company transferred the investments held by it in subsidiaries, namely Titagarh Firema S.p.A., Italy (TFA) and Titagarh Singapore Pte Ltd, Singapore (TSPL), to Titagarh Bridges and International Private Limited (Formerly known as Matiere Titagarh Bridges Private Limited) (TBIPL), a wholly owned subsidiary of the Company engaged in the business of manufacture of metallic bridges. The first Aluminium Metro train for Pune Metro was flagged off at TFA, Italy, on 30th July, 2021. The Company along with its subsidiary TFA, had signed the first contract for design, manufacture and supply of 34 trains of 3 coaches each for Pune Metro (Maharashtra Metro Rail Corporation Limited).In 202122, the Company launched the first warship vessel for the Indian Coast Guard in cooperation with Garden Reach Shipbuilders and Engineers Ltd. (GRSE). It designed, produced and delivered two prototype metro trains, one for Pune Metro (India) and the other for Catania Metro (Sicily) in 2022.The Company on 10th January, 2022 approved a Draft Scheme for Amalgamation of Titagarh Bridges and International Private Limited (TBIPL), a wholly owned subsidiary with the Company, with 1st April, 2021 as the Appointed Date, which got sanctioned by the Honble National Company Law Tribunal (NCLT). And consequent to merger of TBIPL with the Company, all the assets and liabilities of TBIPL including the shares held by it in Titagarh Singapore Pte. Ltd., Singapore, and Titagarh Firema S.p.A., Italy, stood transferred to the Company.