Arthneeti

Rites Q1 FY27 Share Price & Earnings Call Analysis

₹194.81-0.90% today
Market cap
₹9,353 Cr
P/E
22.42
ROE
15.42%
PEG
-2.54
Price to sales
3.80
Debt to equity
0.00
52W high / low
₹253 / ₹176
Sales growth (5Y)
4.86%
EBITDA margin
22.57%
Net profit margin
18.81%
Promoter holding
72.20%
Sales (last year)
₹2,458 Cr

Established in 1974, RITES Limited is a public sector enterprise and a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. The company is the only export arm of Indian Railways for providing rolling stock overseas (other than Thailand, Malaysia and Indonesia). [1]

Guidance scorecard · Q1 FY27 call

What Rites Ltd's management guided
and where it ranks in Construction

Revenue10–20%MarginsFlatCapexNone plannedFundraisingWhat management saidOrder bookRising

RevenueQ1 FY27 call

10–20%
  • RITES Limited aims for double-digit growth in revenue sequentially each quarter in FY27.
  • The company targets incremental growth quarter-on-quarter to achieve FY targets.
  • Export orders are expected to contribute significantly, with a target of over INR 300 crores in export revenue this year.
  • The export order book stands at INR 2,100 crores, which is expected to be executed mainly by FY28.
  • Management aims to maintain a steady inflow of export orders, targeting at least one export order per quarter.
  • Growth is also expected from the renewable consultancy segment (REMCL), which is diversifying into international and domestic renewable consultancy.

2 more points from Rites Ltd's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

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

Full Q1 FY27 analysis

CapexQ1 FY27 call

None planned
  • RITES Limited currently operates with low CapEx and hardly any working capital requirement, maintaining a debt-free status.
  • The company is strategically building bench strength in employees to handle increasing order execution.
  • Expansion efforts include diversifying REMCL into international and domestic renewable consultancy, indicating a strategic focus on consultancy growth areas rather than heavy capital investment.
  • Export rolling stock and consultancy have a growing order book, but investments there appear operational rather than capital intensive.
Full Q1 FY27 analysis

FundraisingQ1 FY27 call

See what Rites Ltd said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Rising
  • Current total order book as of Q1 FY27 is INR 9,450 crores.
  • Approximately 50% of the order book is Turnkey, contributing around 30-33% of quarterly revenue, with margins of 1.5-2%.
  • The other 50% includes project consultancy and export rolling stock consultancy.
  • Export order book stands at INR 2,100 crores, with INR 1,775 crores from rolling stock exports.
  • Major export orders: ~INR 900 crores from Bangladesh (200 coaches), balance from locomotives in Mozambique and Africa.
  • They expect to achieve at least INR 300 crores in export revenue in FY27.
  • Order intake maintained at 128 orders worth INR 670 crores in Q1 with a strike rate of about 1.4 orders per day.

2 more points from Rites Ltd'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 Rites Ltd 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₹6,531 Cr11.7
240%+Flat₹1,089 Cr9.3
340%+Flat₹898 Cr7.6
440%+Flat₹807 Cr14.7
540%+Flat₹554 Cr13.1
640%+Flat₹516 Cr30.7

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Financials of Rites Ltd

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

Financials of Rites Ltd

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +687544582683643486541576602490549609768
Expenses +496383445514467380435458417376419466600
Operating Profit191161138169176106106117186114130142168
OPM %28%30%24%25%27%22%20%20%31%23%24%23%22%
Other Income +19182819272522442724353035
Interest2112012111111
Depreciation17161415161415161715171716
Profit before tax191163150171187115111144195122146154186
Tax %27%26%27%25%27%21%26%24%27%25%25%25%25%
Net Profit +139120110129137908210914191109115139
EPS in Rs2.752.252.102.502.621.641.522.082.761.672.042.122.70

Financials of Rites Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +1,0131,2181,3511,4972,0472,4741,9052,6622,6282,4532,2182,415
Expenses +6648711,0051,0711,4691,8111,3531,9331,8691,7921,6751,861
Operating Profit348347347427578663552729759661543554
OPM %34%29%26%28%28%27%29%27%29%27%24%23%
Other Income +1472082101542002681018410392118123
Interest21142510109132121344
Depreciation263738363847526667616266
Profit before tax468518505519730874593735774670565608
Tax %33%34%33%31%33%28%25%27%26%26%25%25%
Net Profit +312340337357490633444539571495424454
EPS in Rs12.4913.556.576.859.3912.329.0010.7411.289.488.018.54
Dividend Payout %20%40%46%32%54%65%72%79%91%95%94%115%

Financials of Rites Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital100100200200200250240240240240481481
Reserves1,5761,7071,8382,0142,2222,3832,1522,2482,3632,3692,1602,201
Borrowings +01738355484737285897
Other Liabilities +1,9292,5312,6782,9012,9563,2223,4083,3263,3813,0473,4723,238
Total Liabilities3,6054,5114,7995,1705,4265,9035,8375,8425,9915,6646,1215,926
Fixed Assets +212476406402478590584560552535884868
CWIP2634524415581011744888
Investments226220328133141261289205130109117104
Other Assets +3,1413,7814,0604,6334,8035,0474,9485,0205,2084,8465,0724,866
Total Assets3,6054,5114,7995,1705,4265,9035,8375,8425,9915,6646,1215,926

Financials of Rites Ltd

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 +-89463555410164319516310560432637327
Cash from Investing Activity +291-520-56-4541394919462163-315-205126
Cash from Financing Activity +-3839-215-217-279-420-708-376-483-504-405-424
Net Cash Flow165-18284-26124-522-5239-3872730
Free Cash Flow-19626954034812207436168424295505266
CFO/OP15%186%208%138%70%80%112%68%98%99%148%79%

Financials of Rites Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days137161125114109124112101126134122141
Inventory Days322230211819611
Days Payable408184572144105589105
Cash Conversion Cycle-239161125-47-161-911277-36713412247
Working Capital Days-464-427-449-454-297-240-335-234-219-203-279-174
ROCE %30%28%21%24%30%33%23%29%30%25%22%22%

Guidance history

How Rites Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →10–20%FlatNone planned—Rising
Q4 FY26 call →10–20%FlatPlanned—Rising
Q3 FY26 call →10–20%Flat——Rising
Q2 FY26 call →10–20%FlatNone planned—Rising

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

18out of 100

Momentum score · price trend

18 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−21.3%35%
Last 6 months−11.0%35%
Last 3 months−10.6%38%

The price is 50.8% below its all-time high of ₹395.93 (2 Mar 2024). Stocks more than 20% below their peak have their score halved, so 36 became 18.

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 Rites Ltd: 0.4 × 35 + 0.4 × 35 + 0.2 × 38 = 36, halved to 18 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 29 Oct 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 Rites Ltd's management said in earlier quarters

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