Titagarh Rail Systems Limited (TRSL) is expanding into shipbuilding by forming Titagarh Naval Systems Private Limited (TNSPL), a wholly-owned subsidiary. TRSL will transfer its existing Shipbuilding and Maritime Systems Business to TNSPL for independent growth and to attract investors. The order book stands at ₹26,000 cr as of June 30, 2025, excluding GST and including its share in Joint venture.