Rail Vikas Nigam Ltd
Rail Vikas Nigam Ltd was Incorporated in 2003 by the Govt. of India, it is engaged in the business of implementing various types of Rail infrastructure projects assigned by MoR including doubling, gauge conversion, new lines, railway electrification, major bridges, workshops, Production Units and sharing of freight revenue with Railways as per the concession agreement entered into with Ministry of Railway. [1] [2]
Strengths
- +Company has reduced debt.
- +Company has been maintaining a healthy dividend payout of 31.8%
- +Company's median sales growth is 26.8% of last 10 years
Weaknesses
- −The company has delivered a poor sales growth of 6.46% over past five years.
- −Earnings include an other income of Rs.832 Cr.
- −Promoter holding has decreased over last 3 years: -5.36%
Shareholding Pattern
| Category | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 72.84% | 72.84% | 72.84% | 72.84% | 72.84% | 72.84% | 72.84% | 72.84% |
| FIIs | 3.13% | 5.05%▲1.9 | 5.1%▲0.0 | 5.07%▼0.0 | 4.89%▼0.2 | 4.66%▼0.2 | 4.97%▲0.3 | 4.86%▼0.1 |
| DIIs | 6.77% | 6.33%▼0.4 | 6.16%▼0.2 | 6.21%▲0.0 | 6.38%▲0.2 | 6.39%▲0.0 | 6.37%▼0.0 | 6.42%▲0.0 |
| Public | 17.25% | 15.78%▼1.5 | 15.89%▲0.1 | 15.87%▼0.0 | 15.89%▲0.0 | 16.08%▲0.2 | 15.79%▼0.3 | 15.87%▲0.1 |
Financial Statements
| Metric | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 4,910 | 4,676 | 6,701 | 4,064 | 4,869 | 4,591 | 6,345 | 3,925 | 4,935 | 4,504 |
| Expenses | 4,613 | 4,430 | 6,246 | 3,888 | 4,597 | 4,328 | 5,955 | 3,846 | 4,723 | 4,274 |
| Operating Profit | 297 | 246 | 455 | 176 | 273 | 263 | 390 | 79 | 211 | 230 |
| OPM % | 6% | 5% | 7% | 4% | 6% | 6% | 6% | 2% | 4% | 5% |
| Net Profit | 370 | 326 | 433 | 218 | 303 | 295 | 373 | 128 | 196 | 264 |
| EPS ₹ | 1.77 | 1.56 | 2.08 | 1.04 | 1.45 | 1.41 | 1.79 | 0.61 | 0.94 | 1.27 |
AI Insights
TTM revenue at ₹19,709Cr, down 0.8% YoY. OPM at 5%.
Borrowings at ₹4,799Cr. Debt-to-equity ratio: 0.74x. Moderate leverage.
CWIP at ₹5Cr (0% of fixed assets). Moderate ongoing capital expenditure.
DIIs: 6.42% (+0.67pp change). FIIs: 4.86% (+3.11pp change). Promoters hold 72.84%.
ROCE improving from 0% (Mar 2014) to 15% (Mar 2025). Working capital days: 39.
PE 60x with 15% ROCE. Price is 572% above book value of ₹41.2. Dividend yield: 0.62%.
Recent Announcements
- Board Meeting Intimation for Financial Results (Standalone & Consolidated) For Quarter And Year Ended 31St March, 2026 And Recommendation Of Final Dividend. 14 May - RVNL board meeting rescheduled to 25 May 2026 to approve audited FY26 results and consider final dividend.
- Rail Vikas Nigam Limited Emerges As The Lowest Bidder (L1) From South East Central Railway - Normal Course Of Business Of The Company 12 May - RVNL emerges L1 for South East Central Railway EPC work worth Rs 221.33 crore, to execute in 730 days.
- Board Meeting Intimation for Financial Results And Recommendation Of Final Dividend. 8 May - Board meeting on 21 May 2026 to approve FY26 audited results and consider final dividend.
- Announcement under Regulation 30 (LODR)-Retirement 30 Apr - Mr. Shailesh Kumar Srivastav superannuates on 30 Apr 2026; ceases senior management from 1 May 2026.
- Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 28 Apr - RVNL received LOA from NMDC for Hyderabad residential campus construction worth Rs 39.21 crore, executable in 15 months.
- Financial Year 2025 from bse
- Financial Year 2024 from bse
- Financial Year 2023 from bse