TWL said the company backed the highest ever wagon order placed in the history of Indian Railways for a basic value of about INR7800 crore and a total value of INR9000 crore plus, taking the order backlog to INR10,00 crore for the Indian operation.
Q&A Insights: Abhijeet Dey of Equentis enquired about the avg. blended margins over 3 years for the Indian Railways order. Umesh Chowdhary MD said that avg. blended margin at EBITDA level in TWL’s business is 8-10%. And with the Indian Railways order, it expects the same guidance
Q&A Insights: Subhankar Ojha from @SKScapital asked about the bidding order pipeline. Umesh Chowdhary MD answered that the comapny has a healthy tender pipeline. And also added that demand for metro coaches remain healthy in India.
Q&A Insights: Subhankar Ojha of @SKScapital asked about ROCE generated from overseas operations and potential earnings for next 2-3 years. Umesh C MD said the order book is of EUR500 million. And in 2022-23, expects to be EBITDA positive, while in 2023-24, to be net positive.
Q&A Insights: Vasudev with @EdelweissFin enquired about delivery terms of Indian Railways order and the split between FY23, FY24 and beyond. Umesh Chowdhary MD replied that the order is to be delivered over 39 months; 25-30% in the first year and the balance in next two years.
Q&A Insights: Vasudev with @EdelweissFin asked about Pune's contract status and the full execution timeframe. Umesh Chowdhary MD answered that barring the COVID delays etc. TWL is on track and added that by FY23, the contract is expected to be fully executed.
Q&A Insights: Vasudev with @EdelweissFin clarified about FY22 capex. Umesh Chowdhary MD said it is close to INR100 crores, primarily funded out of internal accruals.
Q&A Insights: Sreeram Ramdas of @Greenportfolioc enquired if TWL has the capacity to execute all its current orders over next 3-4 years. Umesh Chowdhary MD clarified that by and large the company has the capacity. If any balancing capacity needs to be created, it will be created.
To read further on the detailed analysis of #TWL #Q4 concall Q&A …

alphastreet.com/india/titagarh…

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