Rail Vikas Nigam Ltd (RVNL) — Share Price, Financials & Ratios

Key Fundamentals

MidcapCivil ConstructionConstruction

Market Cap

₹50,887 Cr

Volatility

Moderate

P/E Ratio

57.35

EBITDA

₹768 Cr

Return on Equity

19.39%

Debt to Equity

0.63

Book Value

₹47.11

EPS

₹6.98

52W High

₹405.5

52W Low

₹221.55

Technical Indicators

Key Insights

Strengths

1

Company has been maintaining a healthy dividend payout of 32.4%

Weaknesses

7

Stock is trading at 5.09 times its book value
The company has delivered a poor sales growth of 5.79% over past five years.
Company has a low return on equity of 13.8% over last 3 years.
Earnings include an other income of Rs.869 Cr.
Debtor days have increased from 47.0 to 96.0 days.
Promoter holding has decreased over last 3 years: -5.36%
Working capital days have increased from 57.1 days to 98.0 days

Growth Rate

Revenue Growth

-2.44% ↘

Net Income Growth

-30.29% ↗

Cash Flow Change

-36.46% ↘

ROE

-24.69% ↗

ROCE

-14.73% ↗

EBITDA Margin (Avg.)

-64.47% ↘

AI Analysis — Bull vs Bear

anthropic

claude-opus-4.6 2d ago

SELL

Risk high

RVNL trades at a PE of 58.4x with declining profitability (TTM profit growth of -32%) and negligible sales growth of 2% TTM. With 50% of analysts rating it a sell and deteriorating working capital metrics, the risk-reward is unfavorable at current valuations.

Bull Case 7

Strong 5-year stock CAGR of 50% reflecting sustained wealth creation for long-term holders
Healthy dividend payout ratio of 32.4% provides some income cushion despite modest 0.41% yield
10-year compounded sales growth of 16% demonstrates long-term revenue scaling ability backed by Indian railway capex
5-year average ROE of 16% indicates historically efficient use of shareholder equity
Market cap of Rs.51,736 Cr reflects institutional confidence and liquidity in a government-backed infrastructure play
3-year stock CAGR of 26% outperformed broader indices despite recent correction
10-year compounded profit growth of 7% shows the company has a track record of eventual earnings expansion

Bear Case 8

PE ratio of 58.4x is extremely stretched for a company with -32% TTM profit decline
TTM sales growth of just 2% signals order execution slowdown or revenue recognition delays
3-year compounded profit growth is -13%, indicating a sustained earnings deterioration trend
Debtor days nearly doubled from 47 to 96 days, signaling serious working capital stress and collection issues
Working capital days expanded from 57 to 98 days, tying up more capital in operations
Stock is trading at 5.18x book value which is expensive for an EPC/project management company with 13.8% 3-year ROE
Promoter holding decreased by 5.36% over last 3 years, reducing government skin in the game
1-year stock return of -38% reflects sharp de-rating as market reprices growth expectations downward

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

anthropic

claude-opus-4.6 1d ago

Headwinds 6

Q4 profit plunges 60% YoY May 26

Consolidated net profit fell 58.9% YoY to ₹187 crore in Q4 FY26; EBITDA margin contracted from 6.8% to 4%, with EBITDA down 38% to ₹269 crore. Full-year FY26 standalone profit declined 33% to ₹800 crore.
Shares crash 8% in two days May 27

Stock fell ~8% over two sessions post Q4 results to hit ₹251.30, nearing its 52-week low of ₹248. Stock is down 36% over one year and 26% YTD in 2026.
Analyst downgrades and EPS cuts May 27

PL Capital maintained 'Sell' rating and cut target price; analysts reduced FY27 and FY28 EPS estimates by 15% and 5% respectively due to continued margin weakness.
Other income and JV profits collapse May 26

Other income declined over 50% YoY to ₹85 crore in Q4; share of profit from JVs fell to just ₹4 crore from ₹48 crore a year ago. Kyrgyzstan JV closed.
BSE fine for board non-compliance May 27

BSE imposed a ₹9.56 lakh fine on RVNL for Q4 FY26 board composition violations regarding composition of board and committees for quarter ended March 31, 2026.
Stock down 64% from all-time high May 26

RVNL has fallen 64.6% from its June 2024 all-time high of ₹647, trading below key 50-day (₹280) and 200-day (₹300) moving averages with bearish technical structure.

Positives 6

₹2,977 Cr NMDC order won Jun 20

RVNL secured a ₹2,977 crore contract from NMDC for setting up buffer stockpiles in Vizag with a 42-month execution timeline.
₹968 Cr bridge project from ECR Jun 17

Received LOA worth ₹967.93 crore from East Coast Railway for constructing bridges on EPC mode.
₹221 Cr signalling contract won Jun 8

Secured ₹221.33 crore EPC contract from South East Central Railway for electronic interlocking upgrades across 15 stations in Bilaspur division, with 730-day execution period.
Massive ₹99,262 Cr order book May 26

Order book stood at ₹99,262 crore as of March 31, 2026 (~4.9x FY26 revenue), with FY26 order inflows up 129% YoY to ₹58.75 billion. Railways dominates at ₹570 billion.
Revenue growth remains resilient May 26

Q4 FY26 revenue rose 4.2% YoY to ₹6,696 crore; management guided for 15-20% revenue growth in FY27 with underlying profitability expected to improve.
Railway stocks rally 4% on orders Jun 9

RVNL led railway sector rally, gaining 2.82% to ₹234.66 on fresh order momentum. Bajaj Broking maintains positive constructive outlook on medium to long-term growth.

Neutral 2

₹30 Bn new order secured Jun 22

RVNL secured a new order valued at ₹30 billion (~₹3,000 crore); details regarding nature of work, awarding authority, and execution timeline were not disclosed.
FY26 results and dividend declared May 25

Board recommended final dividend of ₹0.71 per share for FY26, bringing total FY26 dividend to ₹1.70 per share. Total assets grew to ₹20,588 crore from ₹19,485 crore in FY25.

TL;DR: RVNL faces severe near-term profitability headwinds with Q4 FY26 net profit down 60% and EBITDA margins compressing to 4%, triggering analyst downgrades and a 64% decline from all-time highs. However, the company continues to win large orders aggressively — securing multiple contracts worth ₹4,000+ crore in June alone — and maintains a robust ₹99,262 crore order book providing ~5x revenue visibility. The trend is mixed: revenue execution remains steady and order inflows are accelerating (up 129% YoY), but margin recovery in FY27 remains the key monitorable that will determine whether the stock stabilizes or continues to drift lower.

Quarterly Results

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Sales	5,720	5,572	4,914	4,689	6,714	4,074	4,855	4,567	6,427	3,909	5,123	4,684	6,696
Expenses	5,345	5,222	4,616	4,440	6,258	3,892	4,599	4,328	5,994	3,856	4,906	4,464	6,427
Operating Profit	374	349	298	249	456	182	256	239	433	53	217	221	269
OPM %	7%	6%	6%	5%	7%	4%	5%	5%	7%	1%	4%	5%	4%
Other Income	274	289	320	358	323	264	281	326	236	238	234	308	89
Interest	146	146	133	139	150	137	141	145	117	108	100	105	98
Depreciation	6	6	6	5	4	7	7	7	9	9	9	9	10
PBT	496	487	480	463	625	302	389	413	543	173	342	415	250
Tax %	28%	30%	18%	22%	23%	26%	26%	25%	16%	23%	33%	22%	27%
Net Profit	359	343	394	359	478	224	287	312	455	134	231	324	182
EPS in Rs	1.72	1.64	1.89	1.72	2.3	1.07	1.38	1.49	2.18	0.65	1.1	1.55	0.9

Show % Change

Figures in ₹ Crores

Profit & Loss

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Sales	3,147	4,540	5,915	7,597	10,069	14,531	15,404	19,382	20,282	21,879	19,923	20,412
Expenses	3,001	4,323	5,688	7,215	9,538	13,757	14,524	18,199	19,035	20,525	18,798	19,645
Operating Profit	146	217	228	382	531	773	880	1,183	1,246	1,354	1,125	767
OPM %	5%	5%	4%	5%	5%	5%	6%	6%	6%	6%	6%	4%
Other Income	123	180	356	331	366	246	808	831	1,077	1,266	1,095	869
Interest	15	23	35	45	52	41	458	564	581	568	540	419
Depreciation	5	5	5	5	6	20	23	21	22	21	31	36
PBT	248	370	543	664	839	958	1,207	1,430	1,719	2,030	1,650	1,181
Tax %	16%	19%	18%	14%	18%	21%	18%	22%	22%	24%	22%	26%
Net Profit	337	429	443	570	688	757	992	1,110	1,342	1,551	1,282	871
EPS in Rs	1.62	2.06	2.13	2.73	3.3	3.63	4.76	5.32	6.44	7.44	6.15	4.2
Div. Payout %	11%	9%	58%	29%	27%	31%	33%	34%	33%	28%	28%	41%

Show % Change

Figures in ₹ Crores

Balance Sheet

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	2,085	2,085	2,085	2,085	2,085	2,085	2,085	2,085	2,085	2,085	2,085	2,085
Reserves	975	1,337	1,472	1,839	2,311	3,034	3,551	4,240	5,161	6,637	7,486	7,737
Borrowings	2,514	2,624	2,437	2,259	3,024	4,257	5,931	6,643	6,441	6,033	5,419	4,818
Other Liabilities	10,561	16,169	2,866	2,101	4,669	3,019	2,654	7,097	4,656	4,822	5,492	7,062
Total Liabilities	16,135	22,216	8,860	8,284	12,089	12,395	14,221	20,066	18,344	19,577	20,482	21,702
Fixed Assets	6	6	8	249	279	305	292	380	355	367	1,027	1,025
CWIP	2	6	13	21	11	25	53	1	1	94	0	0
Investments	896	1,024	1,089	1,231	1,586	1,588	1,730	1,810	1,904	2,381	2,559	2,645
Other Assets	15,232	21,180	7,751	6,783	10,212	10,476	12,145	17,875	16,084	16,735	16,895	18,032
Total Assets	16,135	22,216	8,860	8,284	12,089	12,395	14,221	20,066	18,344	19,577	20,482	21,702

Show % Change

Figures in ₹ Crores

Cash Flow

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating	113	652	571	-363	-695	-962	419	4,793	-4,064	2,956	1,878	-1,894
Investing	-29	100	-25	36	320	124	312	-1,431	1,355	-1,402	1,629	942
Financing	-152	-182	-668	-581	319	827	416	-189	-1,048	-1,287	-1,484	-1,619
Net Cash Flow	-68	570	-123	-908	-56	-11	1,148	3,173	-3,757	267	2,023	-2,571
Free Cash Flow	104	634	385	-454	-721	-983	277	4,678	-4,125	2,630	1,447	-1,953
CFO/OP	112	543	372	-66	-101	-105	65	430	-295	252	208	-209

Show % Change

Figures in ₹ Crores

Ratios

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	22	39	30	34	23	21	23	18	17	18	27	96
Cash Conversion Cycle	22	39	30	34	23	21	23	18	17	18	27	96
Working Capital Days	267	50	21	70	99	122	129	15	49	34	39	98
ROCE %	—	7%	9%	12%	13%	12%	16%	16%	17%	18%	15%	11%

Show % Change

Shareholding Pattern

	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Jul 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Promoters	78.21%	78.20%	78.20%	78.20%	78.20%	78.20%	78.20%	78.20%	78.20%	78.20%	72.84%	72.84%	72.84%	72.84%	72.84%	72.84%	72.84%	72.84%	72.84%	72.84%	72.84%	72.84%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.32%	0.00%	2.32%	3.13%	5.05%	5.10%	5.07%	4.89%	4.66%	4.98%	4.86%
DIIs	9.43%	9.27%	9.09%	8.62%	8.33%	8.30%	7.43%	6.45%	6.51%	5.76%	5.45%	5.83%	6.07%	6.18%	6.77%	6.33%	6.16%	6.21%	6.38%	6.40%	6.38%	6.42%
Government	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Public	10.57%	10.84%	11.27%	11.26%	11.52%	11.43%	11.33%	11.64%	12.38%	13.14%	14.85%	17.50%	17.03%	17.27%	16.00%	14.78%	14.90%	14.94%	14.94%	15.13%	14.70%	14.74%
Others	1.79%	1.69%	1.44%	1.92%	1.95%	2.08%	3.04%	3.71%	2.91%	2.90%	6.86%	1.51%	4.05%	1.39%	1.26%	1.00%	0.99%	0.94%	0.94%	0.96%	1.09%	1.14%
No. of Shareholders	3,66,354	3,10,866	4,37,074	5,31,174	5,63,523	5,79,899	5,66,880	6,60,435	7,20,323	8,86,922	9,53,483	13,41,100	13,97,700	18,44,550	20,74,710	22,96,190	23,17,900	23,71,570	22,90,740	22,79,950	22,07,490	21,90,490

Show % Change

Documents

1

Concall - Jun 2026 Jun 2026

Transcript Recording

2

Concall - May 2026 May 2026

Recording

3

Concall - Nov 2022 Nov 2022

Transcript PPT

4

Concall - Feb 2023 Feb 2023

Transcript

5

Concall - Jun 2023 Jun 2023

Transcript Recording

Frequently Asked Questions about Rail Vikas Nigam Ltd

What does Rail Vikas Nigam Ltd do?

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...

Where is Rail Vikas Nigam Ltd (RVNL) listed?

Rail Vikas Nigam Ltd is listed on the Indian stock exchanges. It is listed on NSE: RVNL and BSE: 542649. You can view its live share price, financials, and ratios on Tapetide.

Which sector does Rail Vikas Nigam Ltd belong to?

Rail Vikas Nigam Ltd operates in the Industrials sector within the Construction industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.

What is the market capitalisation of Rail Vikas Nigam Ltd?

Rail Vikas Nigam Ltd has a market capitalisation of approximately ₹50887.00 Cr. Based on this, it is classified as a Large Cap stock.

What is the PE ratio of Rail Vikas Nigam Ltd?

The Price-to-Earnings (PE) ratio of Rail Vikas Nigam Ltd is 57.35. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.

What is the 52-week high and low of Rail Vikas Nigam Ltd?

Over the past 52 weeks, Rail Vikas Nigam Ltd has traded between a low of ₹221.55 and a high of ₹405.5. This range helps investors understand the stock's price volatility and recent trading levels.

Does Rail Vikas Nigam Ltd pay dividends?

Yes, Rail Vikas Nigam Ltd has a dividend yield of 0.42%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.

What is the Return on Equity (ROE) of Rail Vikas Nigam Ltd?

Rail Vikas Nigam Ltd has a Return on Equity (ROE) of 19.39%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.

How can I research Rail Vikas Nigam Ltd on Tapetide?

On Tapetide, you can view Rail Vikas Nigam Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.