Wheel set supply disruptions
Recurring wheel set shortages from the rail wheel factory have impacted freight production; normalization is uncertain.
TITAGARHRAILSYSTEMS / Q3-FY26 / risks
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Titagarh Rail Systems · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
high
FMA joint venture losses
The Italian subsidiary FMA has incurred losses; worst-case provisions are already booked, but cash impact remains.
Dependence on new wagon tenders
Current wagon orders cover only H1 FY27; any delay in new tenders could lead to underutilization of capacity.
Execution risk in metro ramp-up
Ramping metro production to 20 cars/month involves teething troubles; any delays could affect revenue visibility.