The Board of Directors of Titagarh Wagons Limited (BSE: 532966 | NSE: TWL) at its meeting held on 13th of August, 2022 has appointed Shri Prithish Chowdhary as a Whole-time Director of the Company designated as Director (Marketing & Business Development) with effect from 13th August, 2022.
Since his induction to the Board of Titagarh as a Non-Executive Director w.e.f. January 01, 2021 the Company has witnessed a rapid growth and built up a robust order book in all of its verticals viz. Freight Rolling Stock, Passenger Rolling Stock, Shipbuilding, Bridges and Defence and therefore, it is necessary to have a Whole-time Director to augment the growth momentum.
Shri Prithish Chowdhary possesses skills in relationship-building across clientele consisting of the Government and private sector customers, business origination across all verticals and co-ordination with production and design departments to customise the ever changing specifications of the clientele and is well suited to contribute effectively to the mission and vision of Titagarh.
Following the recommendation of the Nomination and Remuneration Committee (NRC), the Board has decided to tap Shri Prithish Chowdhary's potential and changed his designation to Director (Marketing & Business Development) to have his full time and attention to the Company's fast growing business activities.
Welcoming him in the new role, Shri Manoj Mohanka, Independent Director and Chairman of the NRC, said "Prithish has grown up in an environment which breathes entrepreneurship and he brings innovative and youthful ideas to the table. I can say with confidence that with his contribution to Titagarh under the guidance of the esteemed members of the Board and working together with his father, Shri Umesh Chowdhary, he will play a very important role in the Group's future."
Shri J P Chowdhary, Executive Chairman of Titagarh, said "I'm delighted that the next generation i.e. Prithish Chowdhary is assuming greater responsibility to carry on the legacy of the family forward. I am sure he will bring fresh ideas to consistently enhance the success in all endeavours and continue the Group's journey to provide quality solutions in 'mobility for billions."
Shri Umesh Chowdhary, CEO and Managing Director, said " under the 'Atmanirbhar Bharat' and Make in India policies of our Honourable Prime Minister, India is well on its way to become a 5-trillion economy soon as a manufacturing hub for the global markets. Titagarh has an immense opportunity to be a part of the India growth story and I am very excited and look forward to Prithish supporting me as the chief marketing officer to enhance stakeholder value. Our company has always believed in being customer centric and I'm sure Prithish will continue this tradition."
Shri Prithish Chowdhary on this occasion said "I am thankful to the Board for this honour and will discharge my responsibilities with dedication. Having already had the honour of participating in the proceedings of the Board of Titagarh alongside vastly experienced luminaries since the past about eighteen months, I accept this new role with humility and shall work tirelessly to enable the Titagarh Group to achieve its mission and vision."
Shares of Titagarh Wagons Limited was last trading in BSE at Rs. 136.55 as compared to the previous close of Rs. 133.75. The total number of shares traded during the day was 133125 in over 2653 trades.
The stock hit an intraday high of Rs. 141.40 and intraday low of 129.40. The net turnover during the day was Rs. 18180077.00.