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Rites Ltd

Q2 FY26Construction

Rites Q2 FY26 earnings call: Revenue & Margins

Q2 FY26 earnings call: what management said on revenue, margins and capex.

Price₹210
Market cap₹10.1K Cr
P/E24.1
Updated16 Oct 2026
Read4 min read

The short version

Turnkey segment revenue expected to substantially increase from latter part of FY27 (Q3 onwards), driven by young order book (8-10 months old) starting execution. The company is on a roadmap to surpass last year's top and bottom line performance, aiming for substantial growth in both revenue and profit margins in coming quarters (Q3 and Q4 FY26).

From Rites Ltd's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.

Revenue & Sales Performance

  • Turnkey segment revenue expected to substantially increase from latter part of FY27 (Q3 onwards), driven by young order book (8-10 months old) starting execution.
  • Consultancy segment growing steadily at 10-12% YoY and sequentially, with continual order inflows across various sectors.
  • Export segment revenue has started from Q1 FY24 and expected to contribute regularly each quarter, targeting one export order per quarter to ensure steady revenue flow.
  • Leasing business showing substantial growth, with more than 100 locomotives currently leased and ongoing order inflow.

2 more points from Rites Ltd's call on revenue

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Profitability & Margins

See what Rites Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

  • No major surprise capital expenditure (CapEx) or strategic investments outside the core business model are planned.
  • The company remains a low-CapEx and minimum working capital requirement business.
  • Focus is on maintaining and improving current consultancy and export operations rather than diversifying into unrelated segments.

2 more points from Rites Ltd's call on capex

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Top-ranked in Construction

Ranked on what management guided this quarter

Guidance-ranked
1Dilip Buildcon Ltd
Rev 1Mar 3
2Solarworld Ene.
Rev 1Mar 3
3
Rev 1Mar 3
4
Rev 1Mar 3
5
Rev 1Mar 3
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

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Order Book & Pipeline

  • The current order book stands at approximately INR 9,090 crore.
  • Breakdown of the order book: INR 4,300 crore in turnkey, INR 2,930 crore in consultancy, INR 1,540 crore in export, and the balance in leasing and REMC.
  • About two-thirds of the turnkey order book are young orders, around 8-10 months old, expected to start significant revenue booking from Q4 FY26 and more prominently from H2 FY27.
  • The company aims to reach an order book of INR 10,000 crore by the end of FY26.
  • The company maintains a target of securing one export order per quarter, having achieved this for about seven to eight consecutive quarters.

2 more points from Rites Ltd's call on order book

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Rites Ltd — Quarterly revenue & net profit

Revenue Net profit
Dec 2024Q3 FY25
Mar 2025Q4 FY25
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26

Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹768 Cr, net profit ₹139 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What Rites Ltd's management said in earlier quarters

Others in Construction this season

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  • K2 Infragen Ltd (Q2 FY26)

    For H1-FY26 (half year ending September 2025), Revenue from Operations was INR 909 million, up 76.5% YoY from INR 515 million in H1-FY25. Key investor presentat

  • Konstelec Engg. (Q2 FY26)

    650 Crores (Page 9). Key investor presentation takeaways from Konstelec Engineers's Q2 FY26 investor presentation — and how it ranks against sector peers.

  • MBL Infrastructure Ltd (Q2 FY26)

    Revenue (Income) for HY25 (half year 2025) standalone: ₹119.37 Cr; FY24: ₹184.15 Cr. Key investor presentation takeaways from MBL Infrastructure Ltd's Q2 FY26 i

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Frequently Asked Questions

What were Rites Ltd Q2 FY26 results?

Turnkey segment revenue expected to substantially increase from latter part of FY27 (Q3 onwards), driven by young order book (8-10 months old) starting execution. The company is on a roadmap to surpass last year's top and bottom line performance, aiming for substantial growth in both revenue and profit margins in coming quarters (Q3 and Q4 FY26).

What is Rites Ltd share price analysis?

Rites Ltd currently shows a neutral. The stock trades at a P/E of 24.1 with a market cap of ₹10,071 Cr. Investors should review the full earnings analysis for detailed insights.

Is Rites Ltd planning capital expenditure?

No major surprise capital expenditure (CapEx) or strategic investments outside the core business model are planned.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.