Rail Vikas Nigam Ltd

₹ 72.3 -2.03%
03 Feb - 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 Offerings
New lines: This includes augmenting the rail network by laying new railway lines to achieve a seamless bi-modal transportation network.
Doubling: It involves the provision of additional lines by way of doubling the existing routes to enable the Indian Railways to ease out traffic constraints.
Gauge conversion: This includes the conversion of meter gauge lines to broad gauge railway lines.
Railway electrification: The Company is engaged in the electrification of current un-electrified rail network and electrification on the new rail network.
Metropolitan transport projects: Company takes up projects to set up metro lines and suburban networks in metropolitan cities.
Workshops: This includes manufacturing facilities and workshops for repairing and manufacturing rolling stock.
Others: This includes the construction of traffic facilities, railway safety works, other electrification works, training works, surveys, construction of bridges including rail over bridges, etc. [1]

  • Market Cap 15,075 Cr.
  • Current Price 72.3
  • High / Low 84.2 / 29.0
  • Stock P/E 11.2
  • Book Value 33.7
  • Dividend Yield 2.53 %
  • ROCE 16.8 %
  • ROE 19.7 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 24.2% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 32.3%
  • Company's working capital requirements have reduced from 92.3 days to 20.9 days

Cons

  • Earnings include an other income of Rs.1,003 Cr.

* 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

Sector: Construction Industry: Construction

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
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
3,573 3,577 4,013 2,772 3,018 3,513 5,224 3,641 3,799 4,730 6,029 4,360 4,593
Operating Profit 192 122 208 139 165 220 354 228 227 319 408 281 316
OPM % 5% 3% 5% 5% 5% 6% 6% 6% 6% 6% 6% 6% 6%
62 74 107 56 81 133 421 211 112 222 225 256 301
Interest 9 7 8 8 7 6 319 134 6 144 146 157 131
Depreciation 4 4 8 8 5 4 5 5 5 4 7 6 5
Profit before tax 242 185 299 180 234 342 451 300 329 393 480 373 481
Tax % 9% 44% 17% 21% 20% 18% 15% 23% 15% 25% 21% 20% 21%
Net Profit 220 103 247 141 188 281 382 232 279 293 378 298 381
EPS in Rs 1.06 0.50 1.19 0.68 0.90 1.35 1.83 1.11 1.34 1.41 1.81 1.43 1.83
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
3,147 4,540 5,915 7,597 10,069 14,531 15,404 19,382 21,036
3,001 4,323 5,688 7,215 9,538 13,757 14,524 18,199 19,712
Operating Profit 146 217 228 382 531 773 880 1,183 1,324
OPM % 5% 5% 4% 5% 5% 5% 6% 6% 6%
123 180 356 331 366 246 808 904 1,003
Interest 15 23 35 45 52 41 458 564 579
Depreciation 5 5 5 5 6 20 23 21 22
Profit before tax 248 370 543 664 839 958 1,207 1,502 1,727
Tax % 16% 19% 18% 14% 18% 21% 18% 21%
Net Profit 337 429 443 570 688 757 992 1,183 1,350
EPS in Rs 1.62 2.06 2.13 2.73 3.30 3.63 4.76 5.67 6.48
Dividend Payout % 11% 9% 58% 29% 27% 31% 33% 32%
Compounded Sales Growth
10 Years: %
5 Years: 27%
3 Years: 24%
TTM: 22%
Compounded Profit Growth
10 Years: %
5 Years: 24%
3 Years: 20%
TTM: 15%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 42%
1 Year: 106%
Return on Equity
10 Years: %
5 Years: 17%
3 Years: 18%
Last Year: 20%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
2,085 2,085 2,085 2,085 2,085 2,085 2,085 2,085 2,085
Reserves 975 1,337 1,472 1,839 2,311 3,034 3,551 4,312 4,938
2,514 2,624 2,437 2,259 3,024 4,257 5,931 6,643 6,361
10,561 16,169 2,866 2,101 4,669 3,019 2,654 6,840 3,114
Total Liabilities 16,135 22,216 8,860 8,284 12,089 12,395 14,221 19,881 16,498
6 6 8 249 279 305 292 379 364
CWIP 2 6 13 21 11 25 53 1 1
Investments 896 1,024 1,089 1,231 1,586 1,588 1,730 1,882 1,987
15,232 21,180 7,751 6,783 10,212 10,476 12,145 17,618 14,147
Total Assets 16,135 22,216 8,860 8,284 12,089 12,395 14,221 19,881 16,498

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
113 652 571 -363 -695 -962 419 4,800
-29 100 -25 36 320 124 312 -1,426
-152 -182 -668 -581 319 827 416 -187
Net Cash Flow -68 570 -123 -908 -56 -11 1,148 3,187

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 22 39 30 34 23 21 23 18
Inventory Days
Days Payable
Cash Conversion Cycle 22 39 30 34 23 21 23 18
Working Capital Days 1,412 1,274 21 70 99 122 135 21
ROCE % 7% 9% 12% 13% 12% 16% 17%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
87.84 87.84 87.84 87.84 78.21 78.20 78.20 78.20 78.20 78.20 78.20 78.20
0.55 0.40 0.36 0.31 0.42 0.25 0.26 0.86 0.84 0.95 1.76 2.45
2.61 2.28 1.53 1.12 9.43 9.26 9.10 8.62 8.33 8.29 7.43 6.45
9.00 9.48 10.26 10.73 11.94 12.29 12.44 12.32 12.63 12.56 12.61 12.92

* 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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