The vessels, intended for use by the Geological Survey of India, will support coastal exploration activities. These state-of-the-art research ships will be equipped to carry out several critical functions, including:
- Offshore geological mapping
- Mineral exploration, including dredging
- Ocean environment monitoring and research
- Shipboard data processing and sample analysis in scientific laboratories.
The order is split into two components, with the value of the ships pegged at Rs 445 crore, and an additional Rs 22.25 crore towards GST, taking the total order size to Rs 467.25 crore.
The construction of these vessels will adhere to the Indian Register of Shipping’s regulations and is expected to be completed within 28 months from the date of the LoI.
Incorporated in 1997, Titagarh Rail Systems is primarily engaged in the manufacturing and sale of freight wagons, passenger coaches, metro trains, train electricals, steel castings, specialised equipment, bridges, and ships. The company caters to both domestic and international markets.
Stock performance
Over the past year, shares of Titagarh Rail Systems have lost more than 40% of their value, reflecting a steep decline. The weakness has persisted in 2025, with the stock down nearly 23% year-to-date. While the past six months brought some respite with gains of over 9%, the momentum failed to sustain. In the last three months, the stock slipped about 5%, with losses deepening further to nearly 9% in just the past month.
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