Rail Vikas Nigam Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.

Results restatedNegative operating cash flowResults View source PDF Explain this filing

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Nifty Midcap 150market · index membership as recorded later (tracked since Jun 2026)+0.4%-5.1% vs market

Civil Construction peers, median of 99sector+0.0%-4.6% vs sector

On the reaction day the stock moved 5.1 pts less than Nifty Midcap 150 and 4.6 pts less than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Rail Vikas Nigam Limited reported consolidated revenue from operations of Rs. 20,412.12 crore for FY26, marginally up from Rs. 19,923.25 crore in FY25. Net profit after tax declined significantly to Rs. 870.66 crore from Rs. 1,277.79 crore in the prior year, representing a roughly 32% drop. Earnings per share fell to Rs. 4.20 from Rs. 6.13. The company faced severe cash flow challenges with negative operating cash flow of Rs. -1,893.93 crore, primarily due to a massive increase in trade receivables of Rs. 3,588.32 crore. Cash reserves plummeted from Rs. 3,127.47 crore to Rs. 556.32 crore. The board recommended a final dividend of Rs. 0.71 per share in addition to an interim dividend of Rs. 1 per share already paid. Prior year results were restated showing a net decrease in profits of Rs. 3.73 crore. Statutory auditors issued an unmodified opinion.

Likely market impact

The sharp decline in profitability combined with negative operating cash flow and depleted cash reserves signals deteriorating financial health. The large receivable from Krishnapatnam Railway Company and unresolved accounting observations by C&AG add uncertainty. Shareholders may face pressure despite the dividend declaration.