J P Chowdhary, chairman, Titagarh Wagons says the order will be executed in a year and is worth Rs 25 crore.
Titagarh Wagon has won a rehabilitation contract of 56 coaches of the Kolkata Metro Railway. J P Chowdhary, chairman, Titagarh Wagons says the order will be executed in a year and is worth Rs 25 crore.
Below is the transcript of JP Chowdhary's interview with Ekta Batra & Reema Tendulkar on CNBC-TV18.
Ekta: Could you give us more details with regards to this order that you have won recently for Metro coaches and your foray into that space. Why is it a lucrative segment for you?
A: It is a very relevant segment for us because we are already manufacturing electrical multiple unit coaches for the Indian Railways and we were very anxious to get into the Metro segment. We have been participating in the various projects and this particular project was in relation to Kolkata Metro. The first lot of 56 coaches which they commissioned about 25 years back has become due for midlife replacement, as they call it. So, it's a major job as far as the rehabilitation of the coaches is concerned and once we do it successfully it opens our gates for the Metro coach business.
Reema: When is this order due to be completed and how much will this cost, so what will be the total revenues that you will make on the back of this order?
A: The total value is not very high. It's only rehabilitation and some of the equipments will be supplied by the metro railway. So, our portion of the value will be Rs 25 crore to start with and the time that we are supposed to take is about 12 months to complete this.
Ekta: What is the order pipeline and within the Metro coach business, how much more would you be bidding for within this segment in FY15 and anything on the anvil that we can expect in further order wins?
A: It is very difficult to say that. First we have to make an entry and after we successfully complete this then there are 19 other Metro projects which are on the anvil and we will be bidding for more or less all the projects. However, the point is that who gets what portion of the business depends on various factors but as far as we are concerned, we would be entering Metro coach business through the route of rehabilitation repairs.
Titagarh Wagons stock price
On June 16, 2014, Titagarh Wagons closed at Rs 283.95, up Rs 2.75, or 0.98 percent. The 52-week high of the share was Rs 312.55 and the 52-week low was Rs 69.85.
The company's trailing 12-month (TTM) EPS was at Rs 1.87 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 151.84. The latest book value of the company is Rs 320.68 per share. At current value, the price-to-book value of the company is 0.89.
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