Kolkata, February 3, 2025 – Titagarh Rail Systems Limited (BSE: 532966, NSE: TITAGARH) announced significant organizational and strategic updates following a Board of Directors meeting held on February 3, 2025. The company has expanded its leadership structure, introduced new business verticals, and granted stock options under its employee stock option plan.
Key Leadership Changes
- Shri Anil Kumar Agarwal, previously Deputy Managing Director (DMD) and CEO of the Freight Rail Systems (FRS) vertical, has been designated as the Deputy Managing Director of the company. In this expanded role, he will oversee both the Freight Rail Systems (FRS) and Passenger Rail Systems (PRS) verticals, under the supervision of the Vice Chairman and Managing Director.
- Shri Saket Kandoi, currently Director (Freight Rolling Stock), has been appointed as Director & CEO (Maritime). He will also serve as the ad interim CEO of the FRS vertical.
- The common corporate functions of the company will now be jointly managed by Shri Anil Kumar Agarwal and Shri Prithish Chowdhary, both serving as Deputy Managing Directors.
Business Expansion: New Vertical Additions
Titagarh Rail Systems Limited has
diversified its business operations with the addition of two new verticals:
- Shipbuilding and Maritime Systems – The company will enter the marine business, including shipbuilding, ship repair, and other maritime activities.
- Signalling and Safety Systems – This vertical will focus on railway safety solutions, train control, condition monitoring, and train-mounted solutions to enhance the efficiency and security of railway operations.
Stock Option Grants
The Board has approved the
grant of 500,000 stock options under the
Titagarh Rail Systems Limited – Employee Stock Option Plan 2023 (TRSL ESOP Scheme 2023). The exercise price has been set at
₹860 per option, with a
vesting schedule spanning five years.
Vesting Schedule
| Vesting Anniversary | Percentage of Options Vested |
|---|
| 1st Year | 10% |
| 2nd Year | 15% |
| 3rd Year | 20% |
| 4th Year | 25% |
| 5th Year | 30% |
The
vested options must be exercised within six months from the date of vesting while employees remain in service.
Strategic Outlook
With these structural changes and
business diversification, Titagarh Rail Systems is positioning itself for
sustained growth in rail systems, maritime industries, and railway safety solutions. The leadership realignment and new ventures aim to
strengthen its operational efficiency and expand its market presence.