Titagarh expands its shipbuilding and safety divisions

Titagarh announces a comprehensive management restructuring and the development of the Ship Building and Safety Systems verticals to strengthen India’s railway and maritime capabilities.

Titagarh, India’s premier railway systems provider, announced a significant management reorganisation and strengthening, as well as expansion into new markets. Titagarh has announced the development of new verticals called Ship Building and Maritime Systems (SMS) and Safety and Signalling Systems (SSS).

While Titagarh has previously been in the shipbuilding and maritime business, it has designed, manufactured, and delivered several projects, including specialised ships such as a Fast Patrol vessel for the Indian Coast Guard, a passenger ferry exported to Guyana (both through GRSE), Coastal Research Vessels “Sagar Tara and Sagar Anveshika,” and numerous vessels for the Indian Navy.

Given the Indian government’s goal of achieving “atmanirbharta” (self-reliance) in this market, Titagarh has decided to place a larger emphasis on establishing and increasing this business. Titagarh also has many required permissions/registrations, and the company’s existing shipyard is already certified for warship building by the Indian Navy, Indian Coast Guard, Ministry of Earth Sciences, and Shipping Corporation of India. Titagarh’s SMS vertical will be led by Saket Kandoi, the company’s Director & former Chief Operating Officer of the Freight Rail Systems Division. He will now be the director & CEO of Ship Building and Maritime Systems.

Commenting on this, Saket Kandoi, the newly appointed CEO of Shipbuilding and Maritime Systems, says, ‘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. The creation of the Maritime Development Fund, which 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.”

The Titagarh Board also approved the establishment of Safety and Signalling Systems (SSS), under which Titagarh will develop products to meet the ever-increasing need for improved safety and signalling systems in India’s railway and metro systems. The Indian Railways has placed significant attention and concentration on improving railway safety and signalling, and Titagarh expects to play an essential role in the years ahead. Titagarh already has a joint venture with MERMEC of Italy, a global leader in this industry. Titagarh will provide current technologies and new items to the Indian railway system. Prithish Chowdhary, the company’s Dy Managing Director, will be the ad-interim CEO of SSS. According to a statement, we have identified 3 key areas where we will be focusing on the safety and signalling systems and will leverage our existing engineering and manufacturing capabilities for the same: train control, asset condition monitoring, and vehicular and train-mounted 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 company’s Board of Directors also approved modifications to its management structure. Shri Anil Kumar Agarwal, Deputy Managing Director & CEO in charge of the company’s Freight Rail Systems (FRS) vertical, has been appointed Deputy Managing Director (DMD) from February 3, 2025. Shri Agarwal will now be accountable for the performance of both the Freight Rail Systems (FRS) and passenger rail systems (PRS) sectors, reporting to the Managing Director, Umesh Chowdhary. A new business vertical is being established to develop and grow this firm in line with market demands.

Anil Kumar Agarwal, in his expanded role, states, “I am very excited and committed to 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 stabilise with nearly 1000 waggons per month, he acknowledged that significant work remains to be done in the PRS vertical. He says we are fully committed to becoming the largest producer of passenger coaches in India and our primary focus will be on optimising 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 emphasised 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.”

Prithish Chowdhary, the company’s Managing Director, will be in charge of creating two new business verticals: shipbuilding and maritime systems (SMS) and safety and signalling systems (SSS), in addition to overseeing key corporate activities. Anil Kumar Agarwal and Prithish Chowdhary, the company’s two Deputy Managing Directors, will jointly oversee the company’s corporate responsibilities, reporting to the Managing Director, Umesh Chowdhary. This strategic shift in the responsibilities of Anil Agarwal and Prithish Chowdhary would boost the company’s operations and promote continued success. To foster growth and employee participation, Titagarh additionally announced the grant of 5 lakh stock options reflecting an equal number of shares to qualified employees at the price of  ₹ 860/- per option. 

Speaking on the above, Umesh Chowdhary, Vice Chairman & Managing Director of TRSL, remarks, 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 to continue the momentum, both the new business verticals as well as the management reorganisation will contribute significantly.   Chowdhary further says, “India is poised for 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 systems, Freight Rail Systems, Ship Building and signalling, will play a vital role in fulfilling the vision of our Hon’ble Prime Minister in attaining Atmanirbharta (self-reliance) and moving India towards a Viksit Bharat (developing India).

For more details, visit: https://www.titagarh.in/

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