Rail Vikas Nigam Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.
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Awaiting price reaction for this filing.
RVNL reported a weak Q1 FY26 with standalone revenue from operations at ₹3,925.30 crore, down ~3.4% YoY from ₹4,064.27 crore in Q1 FY25. Standalone net profit fell sharply to ₹127.85 crore from ₹217.80 crore, a decline of about 41% YoY, with EPS dropping to ₹0.61 from ₹1.04. Consolidated results were similarly soft, with net profit of ₹134.36 crore (vs ₹223.92 crore) and revenue of ₹3,908.77 crore. The auditor (Gandhi Minocha & Co.) issued an unmodified review report but flagged an emphasis of matter on ₹1,275.25 crore receivable from JV partner Krishnapatnam Railway Company (KRCL), including ₹889.95 crore of disputed delayed-payment interest, with the matter pending before the Board. RVNL also incorporated a new wholly-owned subsidiary, Sabbavaram Sheelanagar Road Development Limited, in Andhra Pradesh.
The steep ~41% YoY drop in net profit on only a mild revenue decline signals significant margin compression, which is likely to weigh on the stock. However, the KRCL receivable remains a long-pending watch item rather than a fresh concern, and the auditor's clean opinion with just an emphasis-of-matter should limit immediate governance concerns.