13% August, 2021

National Stock Exchange of India Limited Exchange Plaza Bandra-Kurla Complex Bandra (E), Mumbai-400051 Scrip Code: TWL(EQ)

BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Mumbai-400001 Scrip Code: 532966

Dear Sirs,

Sub: Earnings Presentation O1 and I'Y 2022

Dear Sirs,

Please find attached the "Earnings Presentation Q1 FY 2022" which is self-explanatory.

Please take the above on record.

Thanking you,

Yours faithfully, For TITAGARH WAGONS LIMITED

Sauwat Toimurk

Sumit Jaiswal Company Secretary

Encl.: As above

TITAGARH WAGONS LIMITED

CIN: L27320WBIS97PLCO84819

Registered & Corporate Office: Titagarh Towers, 756 Anandapur, E. M. Bypass, Kolkata - 700 107, India Phone : +9133 4019 0800 | Fax: + 91 33 4019 0823 | Email : [email protected] | Web: www.titagarh.in

Titagarh Wagons Ltd (BSE:532966 ; NSE:TWL)

Earnings Presentation Q1 FY2022

MOBILITY FOR MILLIONS. GLOBALLY.

Transforming Business to Future Potential

Transforming Business by Creating Distinguished Freight and Passenger Rolling Stocks Segment

Q1 FY2022 In Review: Standalone

TWL delivered strong year on year and sequential growth Revenue up 147% and EBITDA up by 191% Y-o-Y basis

Rs. In Crores

The growth momentum gained during the previous quarter continued in Q1 FY22 and TWL continues to deliver strong topline growth
At the end of June 21, the order book remained strong with Rs. 2,330 Cr

Order Book: Standalone

Standalone Order Book as on June-2021: Rs. 2,330 Cr

Diversified order book
More than 60% of Indian order book is from the non-wagon business which will further reduce dependency on the wagon business
Execution of Pune Project is on track and the first train was flagged off on 30th July from our Italian Plant
Various tenders for Freight and Passenger Rollings Stocks are due for bidding in near future

Financial Performance: Standalone

	Q1		YoY	Q4	QoQ	Full Year		YoY
Rs. Crores	FY2022 FY2021 Growth	FY2021	Growth	FY2021	FY2020	Growth
Total Income	344.8	139.8	146.6%	272.6	26.5%	1,037.2	1,501.4	(30.9)%
EBITDA	43.5	15.0	190.7%	36.1	20.4%	130.7	146.0	(10.5)%
Margin (%)	12.6%	10.7%		13.3%		12.6%	9.7%
Profit After Tax (PAT)	20.6	(3.0)	-	17.2	20.3%	50.3	(79.9)	-
Margin (%)	6.0%	(2.2)%		6.3%		4.8%	(5.3)%
Basic EPS (Rs.)	1.7	(0.3)	-	1.4	21.0%	4.2	(6.7)	-

Financial Performance Trend: Standalone

Order Book: Consolidated

Consolidated Order Book as on June-2021: Rs. 4,798 Cr

Diversified order book across Indian and Italian business operations. TFA has participated in few orders in which it is well placed

* Others order book includes bids in which TWL is L-1 and formal contract is expected soon

Q1 FY2022 In Review – Italy Business

Italy business registered strong turnaround in performance with EBITDA becoming positive for the first time in last 5 quarters

Rs. In Crores

Italy business continued the momentum gained in the previous quarter improved significantly during the first quarter with EBITDA becoming positive for the first time in last 5 quarters
The contribution of lower margin legacy orders continues to diminish during the quarter. Higher margin order book delivery has started to contribute positively to the profitability
At the end of June 21, Italy order book remained strong with Rs. 2,469 Cr
Senior management remained fully committed to ensure turnaround of its Italy business and it has resulted a y-o-y growth of 140.7% for the quarter along with positive EBITDA contribution

Financial Performance: Entity-Wise

* Including other income

Company (Rs. Cr)	Total Income		YoY Growth	EBIDTA*		YoY Growth	PBT (before exceptional item)		YoY Growth
	Q1 FY22	Q1 FY21		Q1 FY22	Q1 FY21		Q1 FY22	Q1 FY21
Titagarh Wagons Limited (TWL)	344.8	139.8	146.6%	39.5	15.0	163.5%	28.2	(4.5)	-
Titagarh Firema SPA, Italy (TFA)	205.6	85.4	140.7%	5.6	(7.5)	-	(3.4)	(16.7)	-
Eliminations and Others	(34.1)	(4.9)	-	0.7	(2.9)	-	0.4	(2.9)	-
Total (Continuing Operations)	516.3	220.4	134.3%	45.7	4.6	897.8%	25.3	(24.0)	-

Q1 FY2022 Quarter In Review - Consolidated

Standalone and Italy business both continues to deliver strong topline growth with enhanced profitability

Rs. In Crores

Both Standalone and Italy business registered strong year on year growth of 147% and 141% respectively
At the end of June 21, the order book remained strong with Rs. 4,798 Cr. Italy business constitutes 51% to the total order book

Financial Performance: Consolidated

	Q1		YoY	Q4	QoQ	Full Year		YoY
Rs. Crores	FY2022	FY2021	Growth	FY2021	Growth	FY2021	FY2020 1,800.3 155.0 8.6% 58.0 (94.1) (36.3) (2.0)%	Growth
Total Income	516.3	220.4	134.3%	443.8	16.3%	1,545.5		(14.2)%
EBITDA	53.5	4.6	1,068.0%	34.2	56.4%	105.5		(31.9)%
Margin (%)	10.4%	2.1%		7.7%		6.8%
Profit/ Loss from Continuing Operations	17.4	(21.7)	(180.0)%	0.8	-	(18.8)		(132.4)%
Profit/ Loss from Discontinuing Operations	0.0	0.0	-	0.0	-	0.0		-
Net Profit attributable to Shareholders	17.4	(20.3)	-	0.8	2,177.3%	(15.0)		-
Margin (%)	3.4%	(9.2)%				(1.0)%
Basic EPS (Rs.)	1.5	(1.8)	(183.0)%	0.1	1,985.7%	(1.3)	(3.0)	(56.8)%

Segment Performance: Consolidated

	Q1		YoY	Q4	QoQ	Full Year		YoY
Rs. Crores	FY2022	FY2021	Growth	FY2021	Growth	FY2021	FY2020	Growth
Freight Rolling Stock
Revenue	317.3	137.8	130.3%	233.3	36.0%	963.7	1,430.4	(32.6)%
PBT	44.2	1.6	2710.3%	26.2	68.8%	123.8	139.7	(11.4)%
Margin (%)	12.8%	1.1%		9.6%		11.9%	9.3%
Passenger Rolling Stock
Revenue	183.4	80.6	127.5%	187.7	(2.3)%	541.1	289.6	86.8%
PBT	4.2	(0.0)	-	(10.0)	(142.0)%	(42.8)	0.6	-
Margin (%)	1.2%	(0.0)%		(3.7)%		(4.1)%	0.0%
Others
Revenue	6.6	0.0	-	8.9	(26.1)%	15.8	46.3	(65.8)%
PBT	(0.6)	(0.4)	-	(3.4)	-	(4.1)	6.6	(161.3)%
Margin (%)	(0.2)%	(0.3)%		(0.4)%		(0.2)%	0.2%

Passenger Rolling Stocks and Shipbuilding order has been on execution since the first quarter of FY22 and the Revenue from the same is expected from the end of Q2 FY22

Disclaimer

This presentation contains statements that are "forward looking statements" including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Titagarh Wagons' future business developments and economic performance. While these forward looking statements indicate our assessment and future expectations concerning the development of our business, a number of risks, uncertainties and other unknown factors could cause actual developments and results to differ materially from our expectations.

These factors include, but are not limited to, general market, macro-economic, gover-ental and regulatory trends, movements in currency exchange and interest rates, competitive pressures, technological developments, changes in the financial conditions of third parties dealing with us, legislative developments, and other key factors that could affect our business and financial performance.

Titagarh Wagons undertakes no obligation to publicly revise any forward looking statements to reflect future/ likely events or circumstances.

For further information, please contact:

Anil Kumar Agarwal Chief Financial Officer Titagarh Wagons

T: +91 33 4019 0800 E: [email protected] Ravi Gothwal/ Manoranjan Pal Churchgate Partners

T: +91 22 6169 5988 E: [email protected]

Titagarh Wagons Limited Kolkata Registered & Corporate Office

Titagarh Towers, 756, Anandapur, E.M. Bypass Kolkata – 700107, West Bengal, India T: +91 33 4019 0800 F: +91 33 4019 0823 E: [email protected]

CIN: L27320WB1997PLC084819

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