Titagarh Rail Systems Sets Sail with New Maritime Subsidiary

Titagarh Rail Systems Ltd (TRSL) has announced the formation of a new wholly-owned subsidiary, Titagarh Naval Systems Ltd (TNSL), aimed at expanding its presence in the shipbuilding sector. The company is open to strategic partnerships and investors to boost operations.

The board has given the green light, pending regulatory approval, for transferring TRSL's shipbuilding, maintenance, and services business to the newly formed entity. This shift allows TRSL to focus on its core railway business while TNSL targets opportunities in the maritime arena under government initiatives.

TNSL will leverage its history of supplying vessels to the Indian Navy and other organizations. The facility in Falta, West Bengal, acquired from Precision Shipyard, is set to boost production capabilities. Despite a notable drop in TRSL's Q1 net profit, the company remains optimistic about its future prospects.

(With inputs from agencies.)