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Rail Vikas Nigam Ltd.
NSE: RVNL · Construction
₹193.34-0.18%06 Nov 2026
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Instant answers about Rail Vikas Nigam Ltd. — computed from its filings, no language modelMarket cap₹40,312 cr
Current price₹193.34
High / Low₹388 / ₹180
P/E44.8
P/B4.10
Book value₹47.1
ROE9.2%
ROCE10.5%
Debt / equity0.49
Dividend yield1.42%
EPS (TTM)₹4.31
Face value₹10
Price & valuation
split & bonus adjusted · pick a metric and rangeAnnual performance
annual · ₹ crore · line = operating margin| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | 14,531 | 15,404 | 19,382 | 20,282 | 21,889 | 19,923 | 20,412 |
| EBITDA | 786 | 880 | 1,183 | 1,247 | 1,353 | 1,125 | 767 |
| Operating margin | 5.4% | 5.7% | 6.1% | 6.1% | 6.2% | 5.6% | 3.8% |
| Interest | 41 | 28 | 564 | 581 | 568 | 540 | 419 |
| Depreciation | 20 | 23 | 21 | 22 | 21 | 31 | 36 |
| Profit before tax | 971 | 1,138 | 1,399 | 1,640 | 1,949 | 1,555 | 1,087 |
| Tax | 201 | 215 | 319 | 378 | 479 | 369 | 311 |
| Net profit | 753 | 922 | 1,183 | 1,421 | 1,574 | 1,281 | 875 |
| EPS ₹ | 3.61 | 4.42 | 5.67 | 6.81 | 7.55 | 6.15 | 4.20 |
| Operating cash flow | — | — | 4,800 | -4,076 | 2,954 | 1,878 | -1,894 |
| Capex | — | — | 14 | 10 | 116 | 432 | 61 |
| Dividend paid | — | — | 421 | 421 | 444 | 440 | 573 |
| Total assets | 12,395 | 14,152 | — | 18,422 | 19,612 | 20,482 | 21,702 |
| Equity | 5,119 | 5,567 | — | 7,325 | 8,746 | 9,571 | 9,822 |
Quarterly performance
last 29 quarters · ₹ crore| JUN '19 | SEP '19 | DEC '19 | MAR '20 | JUN '20 | SEP '20 | DEC '20 | MAR '21 | JUN '21 | SEP '21 | DEC '21 | MAR '22 | JUN '22 | SEP '22 | DEC '22 | MAR '23 | JUN '23 | SEP '23 | DEC '23 | MAR '24 | JUN '24 | SEP '24 | DEC '24 | MAR '25 | JUN '25 | SEP '25 | DEC '25 | MAR '26 | JUN '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 2,846 | 3,765 | 3,699 | 4,221 | 2,911 | 3,183 | 3,732 | 5,578 | 3,869 | 4,026 | 5,049 | 6,438 | 4,641 | 4,909 | 5,012 | 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 | 4,321 |
| Operating profit | 165 | 197 | 217 | 208 | 141 | 165 | 220 | 354 | 228 | 227 | 319 | 408 | 281 | 316 | 276 | 374 | 349 | 298 | 249 | 456 | 182 | 271 | 239 | 433 | 53 | 217 | 221 | 269 | 185 |
| Operating margin | 5.8% | 5.2% | 5.9% | 4.9% | 4.9% | 5.2% | 5.9% | 6.3% | 5.9% | 5.6% | 6.3% | 6.3% | 6.0% | 6.4% | 5.5% | 6.5% | 6.3% | 6.1% | 5.3% | 6.8% | 4.5% | 5.6% | 5.2% | 6.7% | 1.4% | 4.2% | 4.7% | 4.0% | 4.3% |
| Other income | 53 | 62 | 74 | 57 | 56 | 66 | 120 | 67 | 63 | 56 | 75 | 210 | 238 | 222 | 281 | 256 | 282 | 296 | 328 | 280 | 263 | 281 | 269 | 187 | 228 | 210 | 252 | 85 | 141 |
| Interest | 17 | 9 | 7 | 8 | 8 | 7 | 6 | 8 | 7 | 6 | 8 | 146 | 157 | 131 | 147 | 146 | 146 | 133 | 139 | 150 | 137 | 141 | 145 | 117 | 108 | 100 | 105 | 98 | 98 |
| Depreciation | 4 | 4 | 4 | 8 | 8 | 5 | 4 | 5 | 5 | 5 | 4 | 7 | 6 | 5 | 6 | 6 | 6 | 6 | 5 | 4 | 7 | 7 | 7 | 9 | 9 | 9 | 9 | 10 | 10 |
| Profit before tax | 196 | 246 | 280 | 249 | 182 | 219 | 329 | 408 | 280 | 272 | 382 | 465 | 355 | 402 | 404 | 478 | 479 | 455 | 433 | 582 | 300 | 405 | 356 | 494 | 164 | 318 | 359 | 246 | 217 |
| Tax | 46 | 21 | 82 | 51 | 39 | 46 | 61 | 69 | 68 | 50 | 100 | 102 | 76 | 100 | 65 | 137 | 144 | 85 | 104 | 147 | 78 | 102 | 101 | 87 | 39 | 112 | 91 | 69 | 64 |
| Net profit | 182 | 0 | 0 | 247 | 141 | 188 | 281 | 313 | 232 | 279 | 293 | 378 | 298 | 381 | 382 | 359 | 343 | 394 | 359 | 479 | 224 | 287 | 311 | 459 | 135 | 230 | 323 | 187 | 159 |
| EPS ₹ | 0.87 | 1.06 | 0.50 | 1.19 | 0.68 | 0.90 | 1.35 | 1.50 | 1.11 | 1.34 | 1.41 | 1.81 | 1.43 | 1.83 | 1.83 | 1.72 | 1.65 | 1.89 | 1.72 | 2.29 | 1.07 | 1.38 | 1.49 | 2.20 | 0.65 | 1.10 | 1.55 | 0.90 | 0.76 |
| Revenue YoY | — | — | — | — | 2.3% | -15.5% | 0.9% | 32.2% | 32.9% | 26.5% | 35.3% | 15.4% | 19.9% | 21.9% | -0.7% | -11.1% | 20.1% | 0.1% | -6.4% | 17.4% | -26.9% | -1.2% | -2.6% | -4.3% | -4.1% | 5.5% | 2.6% | 4.2% | 10.6% |
| Profit YoY | — | — | — | — | -22.6% | — | — | 26.4% | 64.7% | 48.7% | 4.3% | 21.0% | 28.2% | 36.5% | 30.5% | -5.0% | 15.2% | 3.4% | -6.2% | 33.2% | -34.7% | -27.2% | -13.1% | -4.1% | -39.9% | -19.7% | 3.7% | -59.3% | 18.5% |
Earlier results (standalone, Mar '19 – Mar '19)
₹ crore · from BSE, before the NSE XBRL filings beginRail Vikas Nigam Ltd. reports consolidated figures above. Quarterly consolidated results only became mandatory in India in 2019, so the earlier history available is the standalone company only (excluding subsidiaries). It is shown separately so the two bases are never mixed.
Quarters
| MAR '19† | |
|---|---|
| Revenue | 3,418 |
| Operating profit | 177 |
| Operating margin | 5.2% |
| Other income | 62 |
| Interest | 22 |
| Depreciation | 2 |
| Profit before tax | 228 |
| Tax | 42 |
| Net profit | 186 |
| EPS ₹ | 0.89 |
Returns & margins
trailing-twelve-month, per quarter| MAR '20 | JUN '20 | SEP '20 | DEC '20 | MAR '21 | JUN '21 | SEP '21 | DEC '21 | MAR '22 | JUN '22 | SEP '22 | DEC '22 | MAR '23 | JUN '23 | SEP '23 | DEC '23 | MAR '24 | JUN '24 | SEP '24 | DEC '24 | MAR '25 | JUN '25 | SEP '25 | DEC '25 | MAR '26 | JUN '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.4% | 7.6% | 11.3% | 16.7% | 16.6% | 18.2% | 19.9% | 20.1% | 21.2% | 22.4% | 19.2% | 20.5% | 19.4% | 20.0% | 18.7% | 18.4% | 18.0% | 16.6% | 15.3% | 14.8% | 13.4% | 12.5% | 11.9% | 12.0% | 8.9% | 9.2% |
| ROCE | 19.8% | 19.3% | 18.7% | 19.7% | 20.9% | 22.7% | 23.6% | 24.6% | 28.1% | 32.2% | 15.3% | 16.5% | 16.2% | 17.0% | 17.2% | 17.4% | 17.1% | 15.8% | 16.1% | 15.6% | 14.0% | 12.9% | 12.4% | 12.2% | 10.2% | 10.5% |
| Net margin | 3.0% | 2.7% | 4.1% | 6.1% | 6.0% | 6.2% | 6.4% | 6.0% | 6.1% | 6.2% | 6.4% | 6.9% | 7.0% | 6.9% | 7.0% | 7.0% | 7.2% | 7.1% | 6.6% | 6.4% | 6.4% | 6.0% | 5.7% | 5.7% | 4.3% | 4.3% |
| EBITDA margin | 5.4% | 5.2% | 5.2% | 5.2% | 5.7% | 5.9% | 6.0% | 6.1% | 6.1% | 6.1% | 6.3% | 6.1% | 6.1% | 6.2% | 6.1% | 6.1% | 6.2% | 5.8% | 5.7% | 5.7% | 5.6% | 5.0% | 4.7% | 4.6% | 3.7% | 4.3% |
| Debt / equity | — | — | — | — | — | — | — | — | — | — | 0.90 | 0.90 | 0.87 | 0.87 | 0.75 | 0.75 | 0.68 | 0.68 | 0.61 | 0.61 | 0.56 | 0.56 | 0.52 | 0.52 | 0.49 | 0.49 |
| Interest coverage | 24.69 | 31.30 | 32.70 | 35.47 | 41.27 | 46.34 | 49.99 | 48.23 | 9.39 | 5.64 | 4.62 | 3.80 | 3.82 | 4.09 | 4.18 | 4.27 | 4.43 | 4.16 | 4.03 | 3.87 | 3.88 | 3.78 | 3.84 | 4.10 | 3.65 | 3.85 |
| Asset turnover | 1.17 | 1.18 | 1.13 | 1.13 | 1.09 | 1.16 | 1.22 | 1.31 | 1.37 | 1.42 | 1.28 | 1.27 | 1.10 | 1.15 | 1.01 | 1.00 | 1.12 | 1.04 | 1.00 | 0.99 | 0.97 | 0.96 | 1.01 | 1.02 | 0.94 | 0.96 |
Balance sheet
equity vs borrowings over time · ₹ crore| MAR '18‡ | MAR '19‡ | MAR '20‡ | MAR '21‡ | SEP '22 | MAR '23 | SEP '23 | MAR '24 | SEP '24 | MAR '25 | SEP '25 | MAR '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Share 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 |
| Other equity / reserves | 3,924 | 4,396 | 3,034 | 3,482 | 4,938 | 5,240 | 5,823 | 6,661 | 6,707 | 7,486 | 7,473 | 7,737 |
| Total equity | 6,009 | 6,481 | 5,119 | 5,567 | 7,023 | 7,325 | 7,908 | 8,746 | 8,792 | 9,571 | 9,558 | 9,822 |
| Borrowings | — | — | — | — | 6,318 | 6,408 | 5,957 | 5,988 | 5,404 | 5,389 | 4,959 | 4,814 |
| Current liabilities | — | — | 2,697 | 2,509 | 3,092 | 4,442 | 6,925 | 4,579 | 6,647 | 5,652 | 5,442 | 7,126 |
| Non-current liabilities | — | — | 4,578 | 6,076 | 6,383 | 6,655 | 6,099 | 6,287 | 4,971 | 5,258 | 4,750 | 4,758 |
| Total assets | 8,284 | 12,089 | 12,395 | 14,152 | 16,498 | 18,422 | 20,932 | 19,612 | 20,410 | 20,482 | 19,751 | 21,702 |
| Property, plant & equipment | 249 | 251 | 17 | 19 | 346 | 27 | 26 | 29 | 118 | 537 | 528 | 574 |
| Capital work-in-progress | 0 | 9 | 18 | 47 | 1 | 1 | 1 | 94 | 1 | 0 | 5 | 0 |
| Investments | 10 | 10 | 10 | 10 | 1,987 | 1,982 | 2,073 | 2,405 | 2,443 | 2,559 | 2,640 | 2,645 |
| Inventories | — | — | — | — | 0 | 0 | 0 | 0 | 65 | 0 | 0 | 118 |
| Receivables | 713 | 638 | 835 | 980 | 1,001 | 969 | 1,137 | 1,077 | 1,402 | 1,486 | 1,529 | 5,371 |
| Cash & equivalents | 342 | 285 | 274 | 1,421 | 1,065 | 837 | 1,777 | 1,104 | 2,162 | 3,127 | 1,110 | 556 |
Cash flow
annual · ₹ crore · line = free cash flow| FY19‡ | FY20‡ | FY21‡ | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | -695 | -962 | 657 | 4,800 | -4,076 | 2,954 | 1,878 | -1,894 |
| Cash from investing | 320 | 124 | 75 | -1,427 | 1,355 | -1,399 | 1,629 | 942 |
| Cash from financing | 319 | 827 | 416 | -187 | -1,036 | -1,287 | -1,484 | -1,619 |
| Capex | — | — | — | 14 | 10 | 116 | 432 | 61 |
| Free cash flow | — | — | — | 4,786 | -4,086 | 2,838 | 1,446 | -1,955 |
| Dividends paid | — | — | — | 421 | 421 | 444 | 440 | 573 |
Where the assets sit
Mar '26 · ₹ croreFixed assets (PPE)₹574 cr3%
Investments₹2,645 cr12%
Inventories₹118 cr1%
Receivables₹5,371 cr25%
Cash & equivalents₹556 cr3%
Other assets₹12,438 cr57%
Peer comparison
largest in Construction · this company in bold| Company | Market cap ₹cr | Price | P/E | P/B | ROE |
|---|---|---|---|---|---|
| Larsen & Toubro Ltd. | 5,66,554 | 4,117.70 | 31.7 | 5.01 | 15.8% |
| Rail Vikas Nigam Ltd. | 40,312 | 193.34 | 44.8 | 4.10 | 9.2% |
| Kalpataru Projects International Ltd. | 23,413 | 1,370.80 | 19.8 | 2.76 | 14.0% |
| Cemindia Projects Ltd. | 22,734 | 1,323.30 | 47.0 | 8.68 | 18.5% |
| NBCC (India) Ltd. | 21,184 | 78.00 | 26.6 | 6.59 | 24.7% |
| IRB Infrastructure Developers Ltd. | 20,557 | 17.02 | 19.1 | 0.97 | 5.0% |
| Engineers India Ltd. | 16,451 | 292.70 | 18.3 | 4.92 | 26.9% |
| Techno Electric & Engineering Company Ltd. | 10,798 | 928.50 | 25.1 | 2.60 | 10.4% |
| IRCON International Ltd. | 10,173 | 108.17 | 20.9 | 1.50 | 7.2% |
| RITES Ltd. | 9,358 | 194.72 | 23.1 | 3.52 | 15.2% |
StoxGud checklist: Bearish setup · 3/10
- Price above 50-day average
- Price above 200-day average
- 50-day average above 200-day (uptrend)
- RSI in healthy 40–70 zone
- Positive 1-year return
- Return on equity above 15%
- Debt to equity below 1
- Revenue growing year on year
- Net profit margin above 10%
- P/E below industry median
A rules-based screen of trend, momentum, quality and valuation. Educational only — not a buy or sell recommendation.
Returns & technicals
1 month-1.3%
6 months-37.4%
1 year-41.9%
3Y CAGR+7.8%
5Y CAGR+37.5%
10Y CAGR—
50-day avg₹199.13
200-day avg₹251.45
RSI (14)44
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FAQs
What is the share price of Rail Vikas Nigam Ltd.?
Rail Vikas Nigam Ltd. (RVNL) closed at ₹193.34 on NSE on 06 Nov 2026.
What is the market cap of Rail Vikas Nigam Ltd.?
₹40,312 crore at the latest close.
What is the P/E ratio of Rail Vikas Nigam Ltd.?
44.8, on trailing-twelve-month earnings from its filings.
How fast is Rail Vikas Nigam Ltd. growing?
Rail Vikas Nigam Ltd.: revenue has compounded at 0.2% a year over three years; net profit at -14.9% a year. Latest-quarter revenue is up 10.6% year on year, profit up 18.5%.
How profitable is Rail Vikas Nigam Ltd.?
On a trailing-twelve-month basis return on equity is 9.2%, return on capital employed 10.5%, operating margin 4.3%, net margin 4.3%.
How much debt does Rail Vikas Nigam Ltd. have?
Rail Vikas Nigam Ltd. is lightly geared: debt to equity is 0.49 with borrowings of ₹4,814 cr against cash of ₹556 cr (balance sheet of 2026-03-31). Operating profit covers interest 3.9 times.
Financials parsed from Rail Vikas Nigam Ltd.'s own XBRL filings to NSE (consolidated), ₹ crore unless marked. Quarterly from JUN '19, annual from FY20, balance sheet from Mar '18. * = derived (full year or half year minus earlier quarters). ‡ = balance sheet / cash flow read from the company's published annual report (same basis), for years before the NSE filings carry them; each one checked to add up. Information only, not investment advice.
Rail Vikas Nigam Ltd. · advanced chart