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India
As of 18 Sept 2026, 03:30 pm
On September 4, 2026, RVNL received a Letter of Award from SJVN Thermal Private Limited for the construction of a permanent siding and aerial connection at the Buxar Thermal Power Project in Bihar. This contract, valued at ₹9,030,068,492 inclusive of GST, has a 36-month execution period. Additionally, on September 3, 2026, RVNL emerged as the Lowest Bidder (L1) for a contract from East Coast Railway, valued at ₹404,881,8738 (including GST), with a 30-month execution period for various works on the Bhadrak-Vizianagaram Section.
As of September 17, 2026, RVNL's stock has experienced a decline over various periods. The year-to-date (YTD) return was -44%, and the one-year return was also -44%. The stock has seen a 12% decrease in the last month and an 18% decrease over the last three months. Since its inception, the stock has fallen by 53%.
As of September 17, 2026, the daily trend analysis for RVNL indicates a bearish SuperTrend direction at 213.65, with the closing price at 201.7. Exponential Moving Averages (EMAs) for 20 and 50 days are above the current price (210.04 and 221.07 respectively), and their slopes are negative, suggesting a downward momentum. The monthly trend also shows a bearish SuperTrend direction at 365.26.
Yes, on September 9, 2026, Rail Vikas Nigam Limited informed the exchange that the Comptroller and Auditor General of India appointed M/s. Gandhi Minocha & Co., Chartered Accountants, as the Statutory Auditor for the financial year 2026-27. This appointment is effective from September 8, 2026, and has a term of one year.
As of 18 Sept 2026, 03:30 pm
Recent drawdown or price variability is materially high and may lead to larger short-term outcomes.
Primary driver: Price remains materially below a previous peak
The session traded across a materially wider price range than usual.
Larger price swings can increase short-term uncertainty, especially if they continue.
The session traded across a materially wider price range than usual.
Larger price swings can increase short-term uncertainty, especially if they continue.
Trading activity was substantially higher than usual and the price closed lower.
This may reflect stronger-than-usual market participation; follow-through and relevant company or market news merit review.
Latest complete financial results for Q4 FY2026 and comparative quarterly trends.
| Metric | Q4 FY2025-26(Latest) | Q3 FY2025-26 | Q2 FY2025-26 | Q1 FY2025-26 | Q4 FY2024-25 |
|---|---|---|---|---|---|
| Profit Before Tax | ₹246.27 crore | ₹358.71 crore | ₹318.36 crore | ₹164.04 crore | PEAK₹493.82 crore |
| Profit Loss For Period | ₹181.66 crore | ₹324.14 crore | ₹230.52 crore | ₹134.36 crore | PEAK₹459.12 crore |
| Basic Earnings Loss Per Share From Continuing And Discontinued Operations | ₹0.90 per share | ₹1.55 per share | ₹1.10 per share | ₹0.65 per share | PEAK₹2.20 per share |
| Revenue From Operations | PEAK₹6,695.91 crore | ₹4,684.46 crore | ₹5,122.98 crore | ₹3,908.77 crore | ₹6,426.88 crore |
| Tax Expense | ₹68.68 crore | ₹90.98 crore | PEAK₹111.87 crore | ₹39.05 crore | ₹87.08 crore |
| Finance Costs | ₹97.55 crore | ₹104.79 crore | ₹100.01 crore | ₹108.17 crore | PEAK₹116.98 crore |
Other income contributed ₹84.98 crore, equal to 34.5% of the reported pre-tax profit. Excluding this amount, the pre-tax margin would have been 2.4%.
Finance costs decreased to ₹97.55 crore from ₹104.79 crore in the prior quarter and ₹116.98 crore a year ago. This reduction provided a modest offset to the margin pressure but was insufficient to reverse the overall decline in earnings.
Tax expense was recorded at ₹68.68 crore, resulting in an effective tax rate of 27.9%. After deducting taxes, net profit after tax settled at ₹181.66 crore.
Revenue expanded in the quarter, but profitability contracted due to a cost structure heavily weighted toward materials. With materials consuming over 94% of revenue, the buffer for other operating costs and profit generation remained narrow. While finance costs declined and other income provided partial support, the bottom line fell sharply compared to both the prior year and the preceding quarter.
Exchange disclosures and regulatory announcements for Rail Vikas Nigam.
The Comptroller and Auditor General of India appointed M/s. Gandhi Minocha & Co., Chartered Accountants as the Statutory Auditor for Rail Vikas Nigam Limited (RVNL) for the financial year 2026-27, effective September 8, 2026. This appointment, made under Section 139 of the Companies Act, 2013, carries a term of one year and was disclosed via an official filing dated September 9, 2026.
Rail Vikas Nigam Limited appointed M/s. Gandhi Minocha & Co., Chartered Accountants, as its new statutory auditor for a 12-month term, effective September 8, 2026. The firm, established in 1975 and empaneled with the Comptroller and Auditor General of India, holds a valid peer review certificate.
On September 4, 2026, Rail Vikas Nigam Limited (RVNL) received a Letter of Award from SJVN Thermal Private Limited for the construction of a permanent siding and aerial connection at the Buxar Thermal Power Project in Bihar. The contract, designated as Phase-III with a duration of 36 months, has a total value of Rs. 903,00,68,492 inclusive of GST. This order is classified as a domestic project executed in the normal course of business.
On September 4, 2026, Rail Vikas Nigam Limited received a domestic order from SJVN Thermal Private Limited, a wholly owned subsidiary of SJVN Limited, valued at INR 9,030,068,492 inclusive of GST. The contract involves the construction of a permanent siding and aerial connection for the 1320 MW Buxar Thermal Power Project in Bihar, with an execution period of 36 months.
Rail Vikas Nigam Limited emerged as the Lowest Bidder (L1) from East Coast Railway for a contract valued at Rs. 404,88,18,738 (including GST), to be executed within 30 months. The work involves execution of roadbed, bridges, building works, ballast supply, track linking, utility shifting, and electrification works between Khurda Road and Gangadharpur, as part of the 3rd line on the Bhadrak-Vizianagaram Section. The contract was awarded by a domestic entity and is in the normal course of business.
Ajit Singh, Pr. Executive Director/CC & BD of Rail Vikas Nigam Limited, ceased his role effective September 1, 2026, due to superannuation or retirement, as reported on August 31, 2026.
Rail Vikas Nigam Limited (RVNL) received a fine of Rs. 9,66,420 from the National Stock Exchange (NSE) on August 25, 2026, for non-compliance with SEBI LODR Regulations regarding Board composition for the quarter ended June 30, 2026. The company attributed the violation to its status as a Government entity where Director appointments are made by the Ministry of Railways rather than RVNL itself. RVNL has clarified that upon receiving the requisite number of Directors from the Ministry, it will seek a waiver of the fine under SEBI's exemption policy, noting similar waivers were granted in previous instances.
On August 25, 2026, Rail Vikas Nigam Limited received a notice from the National Stock Exchange imposing a fine of INR 966,420 for non-compliance with Regulations 17(1), 18(1), and 19(1)/19(2) for the quarter ending June 30, 2026. The company has submitted a request for a waiver of the fine and expects no financial or operational impact.
Recent market and company developments associated with Rail Vikas Nigam.
The key equity benchmarks ended mixed on Friday, as easing crude oil prices and softer global bond yields supported investor sentiment. Market sentiment was also aided by Moody's upward revision of India's FY27 GDP growth forecast to 7% from 6%, citing stronger-than-expected domestic activity and the resilience of the economy amid the ongoing conflict in West Asia. However, Moody's flagged elevated energy prices and El Ni-related food price pressures as risks to inflation, consumption and growth.
GPT Infraprojects shares rallied nearly 9% after the company secured a major railway bridge order from RVNL. The contract strengthened its order book to Rs 4,992 crore, while FY27 order inflows reached Rs 818 crore.
From Rail Vikas Nigam
GPT Infraprojects share price jumped as much as 9% in morning trade on the BSE on Friday, 18 September, looking set to extend gains for the second consecutive session.
Stocks to watch today: Navratna defence PSU Bharat Electronics (BEL) has secured additional orders worth ₹648 crore.
Indian equity benchmarks exhibited a mixed performance on Thursday, September 17, amid ongoing volatility. The Nifty 50 index experienced a modest increase, while the Sensex noted a slight decrease. Corporate developments drew attention to Tata Group firms and Wipro, with Bharat Electronics securing fresh orders and Petronet LNG initiating discussions for a joint venture. Other notable advancements came from HAL and Bharat Forge.
GPT Infraprojects is attracting investor attention after securing a ₹483.72 crore railway contract for a bridge over the Mahanadi River, enhancing its order book and revenue visibility. The order is part of expanding railway lines in the Khurda Road Division, to be completed in 1,095 days.
Shares of GPT Infraprojects Ltd ended at ₹113.05, up by ₹2.00, or 1.80%, on the BSE.
Comprehensive Section Breakdown for Rail Vikas Nigam
Strategic Vision: Executes railway infrastructure development and capacity augmentation projects.
• Government-backed enterprise status
• End-to-end project execution capabilities
In the quarter ended March 31, 2026, for fiscal year 2025-26, Rail Vikas Nigam Ltd. (RVNL) reported revenue from operations that increased both compared to the same period last year and the preceding quarter. Despite this top-line expansion, profitability declined significantly. The primary observable factor behind the divergence was a high cost of materials consumed, which left very thin margins for other operating costs and profit generation. Other income provided partial support to pre-tax earnings, but net profit fell substantially from both the prior year and the previous quarter.
Revenue from operations reached ₹6,695.91 crore, rising 4.2% year-on-year from ₹6,426.88 crore and increasing 42.9% sequentially from ₹4,684.46 crore in the prior quarter.
Pre-tax profit (PBT) contracted to ₹246.27 crore, marking a 50.1% decline from ₹493.82 crore a year ago and a 31.4% drop from ₹358.71 crore in Q3. The PBT margin compressed from 7.7% in the prior-year quarter to 3.7% in the current quarter.
Net profit after tax followed the same downward trajectory, settling at ₹181.66 crore. This represents a 60.4% decrease from ₹459.12 crore a year ago and a 43.9% sequential decline from ₹324.14 crore. Basic earnings per share fell to ₹0.90, down from ₹2.20 year-on-year and ₹1.55 sequentially.
The quarter's profit compression aligns closely with the composition of operating expenses. Cost of materials consumed stood at ₹6,318.68 crore, representing 94.4% of revenue from operations.
Total operating expenses—encompassing materials, employee benefits, finance costs, depreciation, and other expenses—summed to ₹6,534.62 crore. Materials alone accounted for 96.7% of this total. The remaining expenses, including finance costs of ₹97.55 crore, employee benefits of ₹45.98 crore, depreciation of ₹9.69 crore, and other expenses of ₹62.72 crore, totaled ₹215.94 crore, or 3.2% of revenue. This distribution leaves a narrow residual margin to cover non-material costs and generate profit.
Category: B2B Services
RVNL executes various rail infrastructure works from concept to commissioning, including doubling & third line construction, new line construction, railway electrification, and gauge conversion.
Category: B2B Services
The company designs and builds modern railway manufacturing workshops, locomotive repair sheds, and urban transport infrastructure including metro rail systems and elevated corridors.
Category: B2B Services
RVNL enters into joint venture arrangements with state governments, ports, and private sectors under Special Purpose Vehicles (SPVs) to finance and execute specific port-connectivity or freight corridor projects.
Core Thesis: RVNL leverages its expertise in project execution and joint venture structures to deliver comprehensive railway infrastructure solutions.
• Turnkey Project Execution: RVNL implements railway infrastructure development and capacity augmentation projects from concept to commissioning on a turnkey basis. • Diverse Project Portfolio: The company undertakes a range of projects including line construction, electrification, gauge conversion, and workshop development. • Strategic Partnerships: RVNL forms joint ventures and SPVs with government and private entities to finance and execute specific infrastructure projects.