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Swing Capital

Railtel Corporation of India Ltd

NSE: RAILTEL BSE: 543265Telecom

RailTel was incorporated in 2000, with the objective of creating nationwide broadband and VPN services, telecom, and multimedia network, to modernize the train control operation and safety system of Indian Railways. It is a "Navratna" PSU of the Government of India. At present, RailTel's network passes through around 6,000 stations across the country, covering all major commercial centers.[1]

₹318
52W: ₹245 — ₹479
PE 28.1 · Book ₹70.5 · +351% vs book
Market Cap₹10,212 Cr
Stock P/E28.1Price to Earnings
ROCE22.8%Return on Capital
ROE17.1%Return on Equity
Div. Yield0.88%Face Value ₹10

Strengths

  • +Company is almost debt free.
  • +Company has delivered good profit growth of 21.0% CAGR over last 5 years
  • +Company's median sales growth is 23.4% of last 10 years

Weaknesses

  • −Company has high debtors of 175 days.

Shareholding Pattern

Promoters72.84%
FIIs3.72%
DIIs0.99%
Public22.44%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters72.84%72.84%72.84%72.84%72.84%72.84%72.84%72.84%
FIIs2.15%3.05%▲0.93.34%▲0.33.33%▼0.03.67%▲0.33.54%▼0.13.68%▲0.13.72%▲0.0
DIIs2.86%0.61%▼2.30.36%▼0.30.45%▲0.10.78%▲0.30.78%0.84%▲0.10.99%▲0.2
Public22.14%23.51%▲1.423.45%▼0.123.36%▼0.122.7%▼0.722.82%▲0.122.63%▼0.222.44%▼0.2

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales6688335588437681,3087449519131,669
Expenses5397164557146461,1296287977801,436
Operating Profit130117103129121180116154133233
OPM %19%14%19%15%16%14%16%16%15%14%
Net Profit6278497365113667662142
EPS ₹1.942.421.522.262.033.532.062.371.944.42

AI Insights

Revenue Trend

Mar 2026 revenue at ₹4,277Cr, up 23% YoY. OPM at 15%.

Debt Position

Borrowings at ₹64Cr. Debt-to-equity ratio: 0.03x. Healthy balance sheet.

Capex Cycle

CWIP at ₹81Cr (6% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 0.99% (-1.21pp change). FIIs: 3.72% (+2.40pp change). Promoters hold 72.84%.

Margin & Efficiency

ROCE improving from 0% (Mar 2015) to 23% (Mar 2026). Working capital days: 34.

Valuation

PE 28.1x with 22.8% ROCE. Price is 351% above book value of ₹70.5. Dividend yield: 0.88%.

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