āagman

Not investment advice. Data and computed figures, for information only.

Rail Vikas Nigam Ltd

NSE: RVNLF&O
₹196.74
−₹0.14 (−0.07%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹39,751 Cr
CMP
₹196.74
52-wk High / Low
₹401 / 187
P/E
44.2
P/B
4.1
Book Value
₹47.1
Div Yield
0.90%
ROCE
11.0%
ROE
9.0%
Face Value
₹10
D/E
0.49

Price−42.5% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 14 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
3
/ 9
3 of 9 F-score tests passed
Graham Number
₹67
√(22.5 × EPS × book value per share)
ROIC
3.7%
vs 11.1% sector median
Cash flow to profit
−2.17
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+293
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
5.4%
ROE × earnings retention ratio
ROE stability
3.7
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII −2.45DII +0.18
Latest quarter vs the previous one
Cash-accrual divergence
13.1%
of assets
Low = accruals track cash flow
Strengths
+FII holding rose by 0.9pp over the last year
Watch-outs
−Latest ROCE of 11% trails the sector median of 17%
−Borrowings are up 83.6% since FY2016 (2624 to 4818)
−Price trades below its 200-day moving average (0.7x)
−Price is 50.9% below its 52-week high
−Promoter holding fell by 5.4pp over the last year
−Piotroski F-Score of 3/9 is in the weak band (≤3)
−Balance-sheet accruals of 13.1% of average assets — earnings are not cash-backed

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales5,5724,9144,6896,7144,0744,8554,5676,4273,9095,1234,6846,6964,321
Expenses5,2224,6164,4406,2583,8924,5994,3285,9943,8564,9064,4646,4274,137
Operating Profit34929824945618225623943353217221269185
OPM %6.3%6.1%5.3%6.8%4.5%5.3%5.2%6.7%1.4%4.2%4.7%4.0%4.3%
Other Income28932035832326428132623623823430889147
Interest1461331391501371411451171081001059898
Depreciation665477799991010
Profit before tax487480463625302389413543173342415250224
Net Profit343394359478224287312455134231324182160
EPS (₹)1.641.891.722.301.071.381.492.180.651.101.550.900.76

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales3,1474,5405,9157,59710,06914,53115,40419,38220,28221,87919,92320,41220,825
Expenses3,0014,3235,6887,2159,53813,75714,52418,19919,03520,52518,79319,64519,934
Operating Profit1462172283825317738801,1831,2461,3541,131767891
OPM %4.6%4.8%3.9%5.0%5.3%5.3%5.7%6.1%6.1%6.2%5.7%3.8%4.3%
Other Income1231803563313662468088311,0771,2661,091869779
Interest152335455241458564581568545419400
Depreciation555562023212221313638
Profit before tax2483705436648399581,2071,4301,7192,0301,6461,1811,231
Net Profit3374294435706887579921,1101,3421,5511,278871896
EPS (₹)1.622.062.132.733.303.634.765.326.447.446.134.204.31

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital2,0852,0852,0852,0852,0852,0852,0852,0852,0852,0852,0852,085—
Reserves9751,3371,4721,8392,3113,0343,5514,2405,1616,6377,4827,737—
Borrowings2,5142,6242,4372,2593,0244,2575,9316,6436,4416,0335,4194,818—
Other Liabilities10,56116,1692,8662,1014,6693,0192,6547,0974,6564,8225,4927,062—
Total Liabilities16,13522,2168,8608,28412,08912,39514,22120,06618,34419,57720,47821,702—
Fixed Assets6682492793052923803553671,0271,025—
CWIP261321112553119400—
Investments8961,0241,0891,2311,5861,5881,7301,8101,9042,3812,5552,645—
Other Assets15,23221,1807,7516,78310,21210,47612,14517,87516,08416,73516,89618,032—
Total Assets16,13522,2168,8608,28412,08912,39514,22120,06618,34419,57720,47821,702—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity113652571−363−695−9624194,793−4,0642,9561,881−1,889
Cash from Investing Activity−29100−2536320124312−1,4311,355−1,4021,629942
Cash from Financing Activity−152−182−668−581319827416−189−1,048−1,287−1,487−1,624
Net Cash Flow−68570−123−908−56−111,1483,173−3,7572672,023−2,571

Ratios

As of 31 Mar 2026
12 periods
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %—7.09.012.013.012.016.016.017.018.015.011.0
ROE %———————————9.0
EPS (₹)1.622.062.132.733.303.634.765.326.447.446.134.20
Book Value (₹)———————————47.1
Face Value (₹)———————————10
P/E———————————44.2
Div Yield %———————————0.90
NPM %10.39.17.17.26.65.16.15.56.36.76.14.1
OPM %4.64.83.95.05.05.06.06.06.06.06.03.8
D/E0.820.770.690.580.690.831.051.050.890.690.570.49
P/B———————————4.1

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+16.0%
5 years+6.0%
3 years+0.0%
TTM+5.0%
Compounded profit growth
10 years+7.0%
5 years−2.0%
3 years−13.0%
TTM−24.0%
Stock price CAGR
5 years+45.0%
3 years+5.0%
Last year−44.0%
Return on equity
10 years16.0%
5 years16.0%
3 years14.0%
Last year9.0%

Shareholding pattern

As of 30 Sep 2025
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters100.00%100.00%87.84%78.21%78.20%78.20%72.84%72.84%72.84%72.84%
FIIs0.00%0.00%0.55%0.42%0.84%1.53%2.32%5.07%4.86%2.41%
DIIs0.00%0.00%2.61%9.43%8.33%6.51%6.18%6.21%6.42%6.60%
Government0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.01%0.01%0.01%
Public0.00%0.00%9.00%11.94%12.63%13.76%18.66%15.87%15.87%18.15%
No. of shareholders771,77,3793,66,3545,63,5237,20,32318,44,55123,71,56821,90,49122,10,914
Change since Jun 2023 (pp)
Promoters −27.16FIIs +2.41DIIs +6.60Public +18.15

Documents

As of 11 Oct 2026
Announcements
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Appointment Of Shri Deepak Mohanty As Non-Official (Independent) Director On The Board Of Rail Vikas Nigam LimitedBoard Comments On Fine Levied By The ExchangesAnnouncement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_OrderAnnouncement under Regulation 30 (LODR)-Change in Directorate
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptAug 2026RecordingJun 2026TranscriptJun 2026RecordingFeb 2026TranscriptNov 2025TranscriptNov 2025RecordingAug 2025TranscriptAug 2025Recording

Corporate actions

As of 18 Aug 2026
18 Aug 2026DIVIDENDDividend - Re 0.71 Per Share—
11 Feb 2026DIVIDENDInterim Dividend - Re 1 Per Share—
21 Aug 2025DIVIDENDDividend - Rs 1.72 Per Share—
23 Sep 2024DIVIDENDAnnual General Meeting/Dividend - Rs 2.11 Per Share—
20 Sep 2023DIVIDENDAnnual General Meeting/Dividend - Re 0.36 Per Share—
6 Apr 2023DIVIDENDInterim Dividend - Rs 1.77 Per Share—
22 Sep 2022DIVIDENDAnnual General Meeting/Dividend - Rs 0.25 Per Share—
24 Mar 2022DIVIDENDInterim Dividend Re 1.58 Per Share—
30 Nov 2021DIVIDEND Annual General Meeting/Dividend - Rs 0.44 Per Share—
8 Apr 2021DIVIDEND Interim Dividend - Rs 1.14 Per Share—
8 Dec 2020DIVIDEND Dividend - Rs 1.14 Per Share—
6 Sep 2019DIVIDEND Dividend - Rs 0.09 Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman