India's leading Railway
Systems provider, Titagarh announced important management reorganization and
strengthening, as well as venturing into new areas of growth.
Titagarh announced
formation of new verticals under the names of Ship Building and Maritime
Systems (SMS) and Safety and Signaling Systems (SSS).
While Titagarh has already
been in the ship building and maritime business in the past and has designed,
manufactured and delivered some projects including specialized ships such as a
Fast Patrol vessel for Indian Coast Guard, a passenger ferry that was exported
to Guyana (both through GRSE), Coastal Research Vessels “Sagar Tara and Sagar
Anveshika” many vessels for the Indian Navy etc.
Considering the Indian
Government's aim to attain “atmanirbharta” (self-reliance) in this segment,
Titagarh has decided to lay greater focus on developing and growing this
business. Titagarh also has many requisite permissions/registration and the
existing shipyard of the Company is already approved for Warship Building and
is an approved yard by Indian Navy, Indian Coast Guard, Ministry of Earth
Sciences, Shipping Corporation of India.
The SMS vertical of
Titagarh would be headed by Mr Saket Kandoi, who is the Director of the company
and was earlier the Chief Operating Officer of the Freight Rail Systems
division. He will now be the irector and CEO of the Ship Building and Maritime
Systems.
Commenting on this Saket
Kandoi, the newly appointed CEO of Ship building and Maritime Systems said
'Titagarh already has a shipyard in Kolkata and will now explore growing the
business, setting up additional facilities including a bigger yard and forging
strategic alliances. India is set to rise as a global shipbuilder and the
Hon'ble Prime Minister has given a major thrust to this industry including the
revamp of the Shipbuilding Financial Assistance Policy and the creation of the
Maritime Development Fund will go a long way in supporting the entire Indian
maritime industry and achieving the Hon'ble Prime Minister's vision of a Viksit
Bharat and achieving Atmanirbharta in the maritime domain.”
Titagarh Board also
approved setting up of Safety and Signaling Systems (SSS) under which Titagarh
will develop products to cater to the ever growing need of enhancing safety and
signaling systems for the railway and the metro systems in India. The Indian
Railway has laid special emphasis and focus on enhancing the railway safety and
signaling and Titagarh intends to play an important role in the years to come.
Titagarh already has a joint venture with MERMEC of Italy which is a global
leader in this field. Titagarh will introduce modern technologies and new
products into the Indian Railway System. Mr Prithish Chowdhary who is the Dy
Managing Director of the Company will be the ad-interim CEO of SSS and speaking
on the same said 'We have identified 3 key areas where we will be focusing on
the safety and signaling systems and will leverage our existing engineering and
manufacturing capabilities for the same – Train control, Asset Condition
Monitoring, Vehicular and Train Mounted Solutions. We are committed to offering
products that are the best in class of technology, quality, and safety, while
strongly adhering to the call of 'Make in India'.”
The Board of Directors of
the Company also approved changes to the management structure of the Company.
Shri Anil Kumar Agarwal, Deputy Managing Director and CEO in charge of the
Freight Rail Systems (FRS) vertical of the Company, has been given the
responsibility as Deputy Managing Director (DMD) of the Company w.e.f. 3rd
February, 2025. In this expanded role, Shri Agarwal will now be responsible for
the performance of both the Freight Rail Systems (FRS) and Passenger Rail
Systems (PRS) verticals, under the overall supervision and guidance of Managing
Director, Mr. Umesh Chowdhary. The formation of a new business vertical is
being done to focus and grow this business helping in line with the market
needs.
Mr. Anil Kumar Agarwal on
his expanded role said “I am very excited and committed towards furthering the
Company's growth. I thank the Board of Directors for its confidence in me and
am very enthusiastic about taking on this new responsibility. Reflecting on the
substantial progress made in the Freight Railway Services (FRS) division, which
has seen operations stabilize with nearly 1000 wagons per month, he
acknowledged that significant work remains to be done in the PRS vertical. He
said, we are fully committed to becoming the largest producer of passenger
coaches in India and our primary focus will be on optimizing costs,
incorporating cutting-edge technology, and enhancing operational efficiency.
Additionally, we plan to not only serve the Indian market but also explore
opportunities for exporting our products to international markets. He further
emphasized that under his leadership he would ensure the PRS division is
well-positioned for success, driving innovation and expanding the Company's
footprint in both domestic and global markets.”
Mr. Prithish Chowdhary, Dy
Managing Director of the Company, apart from handing various corporate
functions, will be responsible for developing the two new business verticals
i.e. Shipbuilding and Maritime Systems (SMS) and Safety and Signalling Systems
(SSS).
The corporate functions of
the Company will be jointly under the responsibility of Mr Anil Kumar Agarwal
and Mr. Prithish Chowdhary, two Deputy Managing Directors of the Company,
reporting to the Managing Director, Mr Umesh Chowdhary.
This strategic enhancement
of the roles of Mr. Anil Agarwal and Mr. Prithish Chowdhary will further
strengthen the Company's operations and drive continued success. In order to
promote growth and employee participation Titagarh also announced the grant of
5 lakhs Employee Stock Options representing upon exercise equal number of
shares to eligible employes at the price of Rs 860/- per Option.
Speaking on the above Mr
Umesh Chowdhary-Vice Chairman and Managing Director of TRSL said 'I am very
excited that the above proposals have been approved by the Board of Directors.
Titagarh has witnessed important growth in the last few years and in order to
continue the momentum, both the new business verticals as well as the
management re organization will contribute significantly. Mr Chowdhary further
said, “India is poised for an unprecedented growth through the vision and
policies of the Hon'ble Prime Minister of India Shri Narendra Modiji and I
firmly believe all our business units i.e., Passenger Rail System, Freight Rail
Systems, Ship Building and Signaling will play a vital role in fulfilling the
vision of our Hon'ble Prime Minister in attaining Atmanirbharta (self-reliance)
and move India towards a Viksit Bharat (Develop India).
