Rail Vikas Nigam Ltd
NSE:RVNL

Watchlist Manager
Rail Vikas Nigam Ltd Logo
Rail Vikas Nigam Ltd
NSE:RVNL
Watchlist
Price: 303.15 INR -2.71%
Market Cap: 632.1B INR

Rail Vikas Nigam Ltd
Investor Relations

In the sprawling network of India's rail infrastructure, Rail Vikas Nigam Ltd. (RVNL) emerges as a crucial architect, building the backbone of the nation’s transportation future. Founded in 2003, RVNL is a public sector enterprise under the Ministry of Railways, with a focused mandate: fast-tracking the execution of ambitious rail projects across the country. From laying down new lines and doubling tracks to electrifying networks and augmenting bridges, RVNL is integral in transforming the railways' operational efficiencies. Their core operations are characterized by project execution, wherein they liaise with government bodies, manage contractors, and oversee the entire project lifecycle to ensure timely and within-budget project delivery.

Financially, RVNL draws its strength from executing these extensive rail infrastructure projects, receiving government-sanctioned funds and operating under a counter-cyclical business model. This model ensures a steady inflow of revenue irrespective of broader economic conditions, buoyed by the Indian government's continuous investment in railway infrastructure development. By leveraging efficient project management and robust engineering consultations, RVNL not only ensures the infrastructural goals of Indian Railways are met but also minimizes costs, thereby enhancing its profitability. Additionally, this strategic execution model often sees RVNL involved in joint ventures, which opens more doors for collaboration and revenue avenues, cementing its role as a cornerstone in India's integrated rail expansion initiatives.

Show more
Loading
No Stocks Selected

Compare the stock's returns with its benchmark index and competitors. Gain insights into its relative performance over time.

Select Stock to Compare
Last Earnings Call
Fiscal Period
Q2 2026
Call Date
Nov 12, 2025
AI Summary
Q2 2026

Order Book: RVNL's order book stands at around INR 90,000 crores as of September 30, 2025, providing strong revenue visibility for the next several years.

Revenue Guidance: Management reiterated their revenue guidance for FY '26 at INR 21,000 to 22,000 crores, expecting a pickup in execution in H2.

Order Inflow: Q2 order inflow was INR 852 crores; H1 inflow was INR 2,000 crores, with full year FY '26 order inflow expected at INR 8,000–10,000 crores, below last year's INR 18,000 crores.

Margins: EBITDA margins have declined to around 4–5% due to a higher share of competitively bid projects, compared to higher margins on legacy orders.

Project Pipeline: Execution is ramping up after a slow H1 due to monsoons and elections, with H2 expected to be significantly stronger.

International Expansion: International orders are now around INR 3,200 crores, and management aims to grow this further for higher margins.

Segment Diversification: RVNL is expanding beyond railways into metro, roads, BharatNet, Vande Bharat manufacturing, and logistics parks.

Working Capital: Negative operating cash flow in H1 was attributed to unbilled revenue, with improvement expected as execution picks up.

Key Financials
Order Book
INR 90,000 crores
Order Inflow (Q2)
INR 852 crores
Order Inflow (H1)
INR 2,000 crores
Order Inflow (FY '26 Guidance)
INR 8,000–10,000 crores
Order Inflow (FY '25 Actual)
INR 18,000 crores
Revenue (FY '26 Guidance)
INR 21,000–22,000 crores
EBITDA Margin
4%–5%
International Order Book
INR 3,200 crores
Other Earnings Calls

Management

Mr. Pradeep Gaur
MD & Chairman
No Bio Available
Mr. Sanjeeb Kumar
CFO, Director of Finance & Director
No Bio Available
Ms. Kalpana Dubey
Company Secretary & Compliance Officer
No Bio Available
Ms. Anupam Ban
Director of Personnel & Director
No Bio Available
Mr. Vinay Kumar Singh
Director of Projects & Executive Director
No Bio Available
Mr. Ravi P. Garg
Chief Investor Relations Officer
No Bio Available
Dr. Monica Agnihotri
General Manager of Marketing
No Bio Available
Mr. S. K. Dhiman
Chief Risk Officer & Senior Advisor of Projects
No Bio Available
Santosh Kumar Misra
Chief Project Manager of Jhansi Civil
No Bio Available
Dharmendra Kumar Pandey
Chief Project Manager of Kota - Civil
No Bio Available

Contacts

Address
DELHI
New Delhi
August Kranti Bhawan, Bhikaji Cama Place, R. K. Puram, Plot No. 25, First Floor
Contacts
+911126738299
www.rvnl.org