Arthneeti

Rail Vikas Nigam Q1 FY27 Share Price & Earnings Call Analysis

₹186.11+3.58% today
Market cap
₹38,804 Cr
P/E
43.13
ROE
9.02%
PEG
-3.24
Price to sales
1.86
Debt to equity
0.49
52W high / low
₹388 / ₹180
Sales growth (5Y)
5.79%
EBITDA margin
4.28%
Net profit margin
4.27%
Promoter holding
72.84%
Sales (last year)
₹20,825 Cr

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]

Guidance scorecard · Q1 FY27 call

What Rail Vikas's management guided
and where it ranks in Construction

#32of 55 in
Construction
Revenue10–20%MarginsFlatCapexPlannedFundraisingNone plannedOrder bookRising

RevenueQ1 FY27 call

10–20%
  • Targeting about INR 20,000-25,000 crore in new work orders for FY27, with INR 5,500 crore already received in Q1.
  • Top line (revenue) expected to grow around 15% in FY27.
  • Bottom line (profit) projected to increase approximately 15-20% in FY27, supported by steady execution and margin improvements.
  • Order book of INR 93,492 crore provides strong multi-year revenue visibility.
  • Order book mix expected to evolve to roughly 50% railway management works and 50% bidding works within 2-3 years.
  • Increasing focus on international markets—Central Asia, Middle East, Africa, Eastern Europe—for diversified infrastructure projects with higher margins.

2 more points from Rail Vikas's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what Rail Vikas said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • Continued focus on project execution and operational efficiency to support future capex needs.
  • No immediate plans for external debt; managing funding largely from internal resources and working capital arrangements.
  • Exploring international markets and broader infrastructure segments for potential strategic investments and order book diversification.
Full Q1 FY27 analysis

FundraisingQ1 FY27 call

None planned

See what Rail Vikas said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Rising
  • As of June 30, 2026, RVNL's total order book stood at INR 93,492 crore.
  • Order book composition: INR 58,000 crore from railways, INR 12,000 crore from S&P, INR 3,651 crore from ports, roads, and highways, INR 5,700 crore from metros, INR 4,000 crore from power and transmission, and INR 1,626 crore from hydro and irrigation…
  • Approximately INR 40,000 crore of the order book is currently mobilized and under active execution.
  • The company targets additional work orders of around INR 20,000-25,000 crore in FY2026-27, with about INR 5,500 crore already received in Q1.

2 more points from Rail Vikas's call on the order book

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Full Q1 FY27 analysis
Full Construction ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Construction
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Rail Vikas rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Construction companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Flat₹6,105 Cr10.9
240%+Flat₹933 Cr7.9
340%+Flat₹912 Cr7.8
440%+Flat₹714 Cr13.0
540%+Flat₹465 Cr15.3
640%+Flat₹431 Cr8.7

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Rail Vikas announcements

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Financials of Rail Vikas

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Rail Vikas

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +5,7205,5724,9144,6896,7144,0744,8554,5676,4273,9095,1234,6846,696
Expenses +5,3455,2224,6164,4406,2583,8924,5994,3285,9943,8564,9064,4646,427
Operating Profit37434929824945618225623943353217221269
OPM %7%6%6%5%7%4%5%5%7%1%4%5%4%
Other Income +27428932035832326428132623623823430889
Interest14614613313915013714114511710810010598
Depreciation66654777999910
Profit before tax496487480463625302389413543173342415250
Tax %28%30%18%22%23%26%26%25%16%23%33%22%27%
Net Profit +359343394359478224287312455134231324182
EPS in Rs1.721.641.891.722.301.071.381.492.180.651.101.550.90

Financials of Rail Vikas

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +3,1474,5405,9157,59710,06914,53115,40419,38220,28221,87919,92320,412
Expenses +3,0014,3235,6887,2159,53813,75714,52418,19919,03520,52518,79819,645
Operating Profit1462172283825317738801,1831,2461,3541,125767
OPM %5%5%4%5%5%5%6%6%6%6%6%4%
Other Income +1231803563313662468088311,0771,2661,095869
Interest152335455241458564581568540419
Depreciation5555620232122213136
Profit before tax2483705436648399581,2071,4301,7192,0301,6501,181
Tax %16%19%18%14%18%21%18%22%22%24%22%26%
Net Profit +3374294435706887579921,1101,3421,5511,282871
EPS in Rs1.622.062.132.733.303.634.765.326.447.446.154.20
Dividend Payout %11%9%58%29%27%31%33%34%33%28%28%0%

Financials of Rail Vikas

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital2,0852,0852,0852,0852,0852,0852,0852,0852,0852,0852,0852,085
Reserves9751,3371,4721,8392,3113,0343,5514,2405,1616,6377,4867,737
Borrowings +2,5142,6242,4372,2593,0244,2575,9316,6436,4416,0335,4194,818
Other Liabilities +10,56116,1692,8662,1014,6693,0192,6547,0974,6564,8225,4927,062
Total Liabilities16,13522,2168,8608,28412,08912,39514,22120,06618,34419,57720,48221,702
Fixed Assets +6682492793052923803553671,0271,025
CWIP261321112553119400
Investments8961,0241,0891,2311,5861,5881,7301,8101,9042,3812,5592,645
Other Assets +15,23221,1807,7516,78310,21210,47612,14517,87516,08416,73516,89518,032
Total Assets16,13522,2168,8608,28412,08912,39514,22120,06618,34419,57720,48221,702

Financials of Rail Vikas

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +113652571-363-695-9624194,793-4,0642,9561,878-1,894
Cash from Investing Activity +-29100-2536320124312-1,4311,355-1,4021,629942
Cash from Financing Activity +-152-182-668-581319827416-189-1,048-1,287-1,484-1,619
Net Cash Flow-68570-123-908-56-111,1483,173-3,7572672,023-2,571
Free Cash Flow104634385-454-721-9832774,678-4,1252,6301,447-1,953
CFO/OP112%543%372%-66%-101%-105%65%430%-295%252%208%-209%

Financials of Rail Vikas

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days223930342321231817182796
Inventory Days
Days Payable
Cash Conversion Cycle223930342321231817182796
Working Capital Days267502170991221291549343998
ROCE %7%9%12%13%12%16%16%17%18%15%11%

Guidance history

How Rail Vikas's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →10–20%FlatPlannedNone plannedRising
Q3 FY26 call →0–10%Up 2%+Planned—Rising
Q2 FY26 call →10–20%FlatPlanned——

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

4out of 100

Momentum score · price trend

4 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−43.4%8%
Last 6 months−37.3%4%
Last 3 months−20.1%19%

The price is 70.3% below its all-time high of ₹626.75 (12 Jul 2024). Stocks more than 20% below their peak have their score halved, so 8 became 4.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Rail Vikas: 0.4 × 8 + 0.4 × 4 + 0.2 × 19 = 8, halved to 4 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 2 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Rail Vikas's management said in earlier quarters

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