Pursuant to Regulations 30 and 33 of the SEBI (LODR) Regulations, 2015, we enclose the Outcome of Board Meeting held today i.e., 10th November, 2026, approved unaudited financial results for quarter and half year ended 30th September, 2026.

— TITAGARH // RAIL SYSTEMS LIMITED 10" November, 2026 BSE Limited (BSE) National Stock Exchange of India Limited (NSE) The Department of Corporate Services The Listing Compliance Department Phiroze Jeejeebhoy Towers Exchange Plaza Bandra-Kurla Complex Dalal Street, Mumbai — 400 001 Bandra (E), Mumbai — 400 051 Scrip Code: 532966 Symbol: TITAGARH Madam/Sir, Sub: Outcome of Board Meeting held today i.e., 10" November, 2026 Pursuant to provisions of Regulations 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations), this is to inform you that the Board of Directors of the Company at its meeting held today i.e., 10" November, 2026 , inter alia, considered and: 1. Approved the Unaudited Financial Results (Standalone and Consolidated) for the quarter and half year ended 30" September, 2026 which are enclosed herewith along with Limited Review Report of the Auditors thereon. The meeting commenced at 04.30 P.M. and concluded at 06.15 P.M. The said disclosure is also being made available on the website of the Company at www.titagarh.in. Please take the above on record. Thanking you, yours faithfully, For TITAGARH RAIL SYSTEMS LIMITED Aditya Purohit Company Secretary & Compliance Officer M. No. ACS 27825 CIN: L27320WB1997PLC084819 Registered Office: Poddar Point, 10" Floor, 113 Park Street, Kolkata 700016, India Corporate Office: Titagarh Towers, 756 Anandapur, E.M Bypass, Kolkata 700107, India Phone:+91 33 40190800 Fax: +91 33 40190823 Email: corp@titagarh.in; Web: www.titagarh.in Price Waterhouse & Co Chartered Accountants LLP Salarpuria & Partners Plot No. 56 & 57, Block DN Chartered Accountants Sector V, Salt Lake 7, C.R. Avenue, Kolkata- 700 072 Kolkata 700 091 Review Report The Board of Directors Titagarh Rail Systems Limited Poddar Road, 10th Floor, 113 Park Street, Kolkata - 700016 1. We have jointly reviewed the standalone unaudited financial results of Titagarh Rail Systems Limited (the “Company”) for the quarter ended September 30, 2026 and the year to date results for the period April 1, 2026 to September 30, 2026, the Standalone Balance Sheet as on that date and the Standalone Statement of Cash Flows for the half-year ended on that date which are included in the accompanying ‘Statement of Standalone Unaudited Financial Results for the Quarter and Half Year Ended September 30, 2026, Standalone Balance Sheet and Standalone Statement of Cash Flows for the period ended’ (the “Statement”). The Statement has been prepared by the Company pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “Listing Regulations, 2015”), which has been initialled by us for identification purposes. The Statement is the responsibility of the Company’s Management and has been approved by the Board of Directors. Our responsibility is to issue a report on the Statement based on our review. 2. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. 3. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion. 4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the Statement has not been prepared in all material respects in accordance with the applicable Accounting Standards prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting practices and policies and has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement. 5. We draw attention to Note 4 to the Statement regarding the restatement of prior period comparative financial information by correcting certain prior period errors in accordance with Ind AS 8 “Accounting Policies, Changes in Accounting Estimates and Errors” as more fully described in the aforesaid Note. Our conclusion is not modified in respect of this matter. For Price(Waterhouse & Co Chartered Accountants LLP For Salarpuria & Partners Firm Regi\fration Number: 304026 E/E-300009 Chartered Accountants Firm Registration Number: 302113E Pdrtner Partner Membership Number: 099903 Membership Number: 069367 UDIN: 26099903WYQJES1581 UDIN: 26069367SPDCVF9384 Place: Gurugram Place: Kolkata Date: November 10, 2026 Date: November 10, 2026 TITAGARH RAIL SYSTEWS LIMITED CIN NO: L27320W/B1357PLC084813 REGISTERED OFFICE: PODDAR POINT, 113 PARK STREET, 10TH FLOOR, KOLKATA- 700015 TEL: 0334019 0800/FAX: 0334019 0823, WES SITE: WWW.TITAGARH.IN, EMAIL: INFO@TITAGARH.IN STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2026 e T Crores ‘QUARTER ENDED HALF YEAR ENDED 'YEAR ENDED. Septaroe30r, |1 Ju0n, 2w028 || aPm er0 | SRtB [ SERAA3r0 | ar3e1, 2n028 [st. No, PARTICULARS. Unaudited Unaudited Unaudited Unaudited (Restated) Unaudited (Rofar Note 4 Audited below) 1 [Revenue from Operatens e 73508 rea 2 146232 s 2 Other Income 668 631 1445 2609 4717 3 [Total Income 779.48 7437 802.77 1,488.41 313075 4 [Expenses a) Costof Raw Materials & Components Consumed 56527 54831 55947 1,11358 1,059 09 201821 b) Changes in inventorleosf Finished Goods, Work-n-progress and Saleable Scrap. (1232)) 1937)) 2457 (21 69)| 821 (27 88)| c) Employee Benefits Expense 2824 %82 2356 5508 4757 10184 d) Finance Costs 1584 1509 1827 073 3610 7037 e) Depreciation and Amontization Expense 1546 1486 1222 3032 2393 5022 ) Other Expenses. 8489 7528 9201 16017 18364 w277 5 [ T [o Pt ra ol f iE tbx ep fe on rss e Es x ( ca eto p ) t ioneamsl and Tax (3-4) 6 a97. 218 67 70 0. 39 89 7 230 6.1 70 1,3 16 58 2. 617 9 1, 135 36 1. 85 74 , 2, w89 85 2.5 23 6 |Exceptonal tems (Refer Nole 3) s - » . 5306 5758 7 |Profit before Tax (5-6) an 152.69 79 07.64 8 [income Tax Exj a) Current tax (including earfier years) 1469 wn 240 3207 7935 o) Deferred Tax - Charge / (Credit) 418 o068 486 309 (562) Total Income Tax Expense 18.87 18.39 3726 3518 N 9 |Profit for the Perlod/ Year from continuing operations (7-8) 6144 51.99 11543 4278 163.91 10 |Loss from discontinued operations (Refer Note 5 below) # * - (727 114 82)| 11 |Tax expensoef discontnued operations (161)) 12 [Loss for the Period/ Year from discontinued operations (10-11) - . . (13.21)| 13 |Profit/ (Loss) for the Period/ Year (9+12) 6344 51.99 1543 150.70 14 [tOetmhe rt hCaotm wpirlelhneonts ib:e reclassified to profit of fos: Remeasurement gans (o3s) on defned beneft plans 034 03 1) 088 (032) 138 Income tax on sbove: (©09) 009)) 004 (0 18)) 008 034) Total Other Comprehensive income 0.25 0.25 (0.12) 0.50 (0.24)) 1.02 15 [Total Comprehensive Income for the Perlod/ Year (13+14) 63.69 52.24 4arar 11593 35.84 151.72 16 |[Faid.up Equity Share Capital (Face value Rs 2/- each) %9 260 269 2893 %9 2693 17 |Other Equity 245604 [Earnings per Equity Share (of Rs. 2/- each) n (Mot Annualised excepl for (ne year ended March 31, 2026) For C~onatsiincu i(nRgs )O perations. an a8 a8 as7 317 iy - Diluted (Rs) 464 3e0 385 844 a7 1216 For Discontinued Operations. - Basic (Rs) - - 034)) . (0 50) (058)) - Diluted (Rs ) - 034) (0 50) 098) For Gontinuing and Discantinusd Operations -“BDaisuitce d( R(sR s) ) a“ena 3%806 3as5t 88547 226677 1119 TITAGARH RAIL SYSTEWS LIMITED CIN NO:- L27320WB1357PLC084815 REGISTERED OFFICE: PODDAR POINT, 113 PARK STREET, 10TH FLOOR, KOLK-A 7T000A16 TEL: 0334019 0800/FAX: 0334019 0823, WEB SITE: WWW.TITAGARH.IN, EMAIL: INFO@TITAGA [Showing first 8,000 characters — download PDF for full document]