Rail Vikas Nigam Ltd

₹ 233 4.98%

12 Jun - close price

About

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]

Key Points

Business Overview
Company and its subsidiaries are engaged in the business of implementing various types of Rail infrastructure projects assigned by the Ministry of Railways (MoR) including doubling (including 3rd/4th lines), gauge conversion, new lines, railway electrification, major bridges, workshops and production units. ^[1]

Website BSE NSE

Market Cap ₹ 48,635 Cr.
Current Price ₹ 233
High / Low ₹ 414 / 222
Stock P/E 60.8
Book Value ₹ 42.5
Dividend Yield 0.74 %
ROCE 11.0 %
ROE 9.16 %
Face Value ₹ 10.0

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Pros

Company has been maintaining a healthy dividend payout of 34.9%

Cons

Stock is trading at 5.49 times its book value
The company has delivered a poor sales growth of 5.37% over past five years.
Earnings include an other income of Rs.806 Cr.
Debtor days have increased from 48.2 to 98.8 days.
Promoter holding has decreased over last 3 years: -5.36%
Working capital days have increased from 57.6 days to 99.0 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Industrials Construction Construction Civil Construction

Part of BSE 500 BSE 200 BSE Dollex 200 BSE PSU Nifty 500 Nifty Midcap 100 Nifty PSE Nifty 200 Nifty High Beta 50 BSE India Infrastructure Index BSE CPSE BSE Industrials BSE 150 MidCap Index BSE 250 LargeMidCap Index BSE 400 MidSmallCap Index Nifty LargeMidcap 250 Nifty 500 Multicap 50:25:25 Nifty Midcap 150 Nifty MidSmallcap 400 Nifty Total Market Nifty500 Shariah Nifty500 Multicap Infrastructure 50:30:20 BSE 200 Equal Weight NIFTY Housing Nifty500 Equal Weight Nifty500 LargeMidSmall Equal-Cap Weighted BSE India Sector Leaders BSE 1000 Nifty India Railways PSU Nifty India Infrastructure & Logistics

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	5,721	5,446	4,910	4,676	6,701	4,064	4,869	4,591	6,345	3,925	4,935	4,504	6,648
	5,349	5,099	4,613	4,430	6,246	3,888	4,597	4,328	5,955	3,846	4,723	4,274	6,428
Operating Profit	372	348	297	246	455	176	273	263	390	79	211	230	220
OPM %	7%	6%	6%	5%	7%	4%	6%	6%	6%	2%	4%	5%	3%
	261	280	296	326	279	262	280	284	193	201	203	235	167
Interest	146	146	133	139	151	137	141	145	117	108	100	104	97
Depreciation	6	5	6	5	4	7	7	7	9	9	9	9	10
Profit before tax	482	477	455	429	579	294	405	395	457	163	306	352	281
Tax %	28%	30%	19%	24%	25%	26%	25%	25%	18%	22%	36%	25%	24%
	345	334	370	326	433	218	303	295	373	128	196	264	212
EPS in Rs	1.66	1.60	1.77	1.56	2.08	1.04	1.45	1.41	1.79	0.61	0.94	1.27	1.02
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	3,147	4,540	5,915	7,557	10,060	14,531	15,404	19,382	20,282	21,733	19,869	20,012
	3,001	4,322	5,633	7,174	9,529	13,744	14,524	18,200	19,037	20,386	18,768	19,263
Operating Profit	146	217	282	383	531	787	880	1,182	1,244	1,346	1,101	749
OPM %	5%	5%	5%	5%	5%	5%	6%	6%	6%	6%	6%	4%
	123	180	248	231	285	266	757	809	1,004	1,183	1,019	806
Interest	15	23	35	45	52	41	458	564	581	568	540	417
Depreciation	5	5	5	5	6	20	23	21	22	21	31	36
Profit before tax	248	370	489	564	758	991	1,156	1,406	1,644	1,939	1,550	1,102
Tax %	16%	19%	20%	17%	20%	20%	19%	23%	23%	25%	23%	27%
	209	300	389	470	607	790	941	1,087	1,268	1,463	1,189	800
EPS in Rs	1.00	1.44	1.87	2.25	2.91	3.79	4.51	5.22	6.08	7.02	5.70	3.84
Dividend Payout %	15%	12%	76%	36%	31%	30%	35%	35%	35%	30%	30%	45%

Compounded Sales Growth
10 Years:	16%
5 Years:	5%
3 Years:	0%
TTM:	1%

Compounded Profit Growth
10 Years:	10%
5 Years:	-3%
3 Years:	-14%
TTM:	-33%

Stock Price CAGR
10 Years:	%
5 Years:	48%
3 Years:	24%
1 Year:	-43%

Return on Equity
10 Years:	17%
5 Years:	16%
3 Years:	14%
Last Year:	9%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity 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
Reserves	675	919	998	1,266	1,654	2,415	2,881	3,546	4,394	5,782	6,539	6,778
	2,514	2,624	2,437	2,259	3,024	4,257	5,931	6,643	6,441	6,033	5,419	4,782
	10,558	16,153	2,837	2,101	4,669	3,019	2,654	7,104	4,661	4,834	5,441	6,943
Total Liabilities	15,832	21,781	8,357	7,712	11,432	11,775	13,550	19,379	17,581	18,734	19,485	20,588
	6	6	8	249	279	305	292	379	355	366	1,027	1,025
CWIP	2	6	13	21	11	25	53	1	1	94	0	0
Investments	595	605	615	659	929	969	1,060	1,163	1,187	1,611	1,764	1,898
	15,229	21,164	7,722	6,783	10,212	10,476	12,145	17,835	16,039	16,663	16,693	17,665
Total Assets	15,832	21,781	8,357	7,712	11,432	11,775	13,550	19,379	17,581	18,734	19,485	20,588

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	124	666	519	-365	-695	-962	419	4,806	-4,028	2,939	1,920	-1,923
	-40	88	23	36	320	124	310	-1,463	1,314	-1,433	1,582	973
	-152	-182	-668	-581	319	827	416	-189	-1,048	-1,287	-1,484	-1,647
Net Cash Flow	-68	571	-126	-910	-56	-11	1,144	3,154	-3,762	220	2,017	-2,597
Free Cash Flow	114	648	341	-456	-721	-983	276	4,690	-4,089	2,614	1,489	-1,982
CFO/OP	119%	341%	223%	-67%	-101%	-104%	65%	432%	-293%	252%	216%	-219%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	22	38	30	35	23	21	23	18	17	19	27	99
Inventory Days
Days Payable
Cash Conversion Cycle	22	38	30	35	23	21	23	18	17	19	27	99
Working Capital Days	273	65	21	70	100	122	129	15	49	35	39	99
ROCE %	3%	7%	9%	11%	13%	13%	16%	17%	18%	19%	15%	11%

Insights

In beta

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Sep 2025

Order Book
INR Crore

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Order Inflow
INR Crore

Doubling Lines Commissioned
km

Railway Electrification Commissioned
km

Total Railway Lines Commissioned/Handed Over
km

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

1 Recently

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	78.20%	72.84%	72.84%	72.84%	72.84%	72.84%	72.84%	72.84%	72.84%	72.84%	72.84%	72.84%
	1.75%	2.32%	2.59%	2.32%	3.13%	5.05%	5.10%	5.07%	4.89%	4.66%	4.97%	4.86%
	5.75%	5.83%	6.08%	6.18%	6.77%	6.33%	6.16%	6.21%	6.38%	6.39%	6.37%	6.42%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
	14.30%	19.01%	18.50%	18.66%	17.25%	15.78%	15.89%	15.87%	15.89%	16.08%	15.79%	15.87%
No. of Shareholders	8,86,922	13,41,098	13,97,699	18,44,551	20,74,709	22,96,188	23,17,903	23,71,568	22,90,745	22,79,946	22,07,488	21,90,491

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	100.00%	87.84%	78.21%	78.20%	78.20%	72.84%	72.84%	72.84%
	0.00%	0.55%	0.42%	0.84%	1.53%	2.32%	5.07%	4.86%
	0.00%	2.61%	9.43%	8.33%	6.51%	6.18%	6.21%	6.42%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.01%
	0.00%	9.00%	11.94%	12.63%	13.76%	18.66%	15.87%	15.87%
No. of Shareholders	7	1,77,379	3,66,354	5,63,523	7,20,323	18,44,551	23,71,568	21,90,491

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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