RITES Limited operates as a transport infrastructure consultancy and engineering PSU. The largest revenue stream is domestic consultancy (49.1% of FY26 segment revenue at Rs 1,117.81 crore), which provides project management, design, and quality assurance services to Indian Railways, metro rail corporations and other government clients — visible in recent wins such as a Rs 79.22 crore PMC order from Patna Metro and a Rs 175.41 crore PMC order from Babasaheb Bhimrao Ambedkar University. Turnkey construction projects (26.5%, Rs 602.40 crore) covers domestic EPC execution, though margins are thin (EBIT of Rs 9.73 crore on this segment). Export sales (13.9%, Rs 316.25 crore) covers overseas supply of locomotives, coaches and railway equipment, including a USD 35.82 million South African order for 4,000 HP Cape Gauge diesel-electric locomotives and upcoming Bangladesh coach deliveries. Leasing (7.6%, Rs 172.07 crore) rents locomotives and operates railway sidings, such as the NUPPL-GTPP wet-lease. Abroad consultancy (3.0%, Rs 67.21 crore) provides overseas PMC work. The order book stood at an all-time high Rs 9,416 crore at end-FY26 — roughly 3.9x FY26 revenue — with more than 50% in the early 12–18 month execution window. The Government of India holds 72.20% of the equity, and the company is virtually debt-free. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Consultancy - Domestic (49%), Turnkey Construction Projects - Domestic (27%), Export Sale (14%), Leasing - Domestic (8%), Consultancy - Abroad (3%). Consultancy-led, asset-light PSU with episodic export execution and low-margin turnkey construction
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 2,662 | 2,628 | 2,453 | 2,218 | 2,415 |
| EBITDA (ex other income) | 725 | 825 | 650 | 515 | 554 |
| margin % | 27.2 | 31.4 | 26.5 | 23.2 | 22.9 |
| Owners' profit | 516 | 542 | 455 | 385 | 410 |
| EPS, as reported (₹) | 21.49 | 22.56 | 18.95 | 8.01 | 8.54 |
| ROE % · ROCE % | 20.8 · 26.4 | 21.0 · 25.9 | 18.2 · 23.1 | 15.4 · 19.1 | 16.3 · 18.3 |
| Debt / equity (x) | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 310 | 735 | 106 | 651 | 166 |
| Capex | (142) | (136) | (137) | (133) | (62) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 541 | 576 | 615 | 490 | 549 | 609 | 768 | 532 |
| Profit before tax | 111 | 139 | 191 | 119 | 142 | 151 | 182 | 126 |
| Net profit | 84 | 109 | 141 | 91 | 109 | 115 | 139 | 98 |
| EPS (₹) | 1.52 | 2.08 | 2.76 | 1.67 | 2.04 | 2.12 | 2.70 | 1.81 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Consultancy - Domestic | 970 | 40.1 |
| Consultancy -Abroad | 50 | 2.1 |
| Export Sale | 316 | 13.1 |
| Leasing -Domestic | 129 | 5.4 |
| Turnkey Construction Projects | 489 | 20.3 |
| Power Generation | 15 | 0.6 |
| Turnkey Construction Projects - Domestic | 113 | 4.7 |
| Consultancy-Domestic | 272 | 11.3 |
| Consultancy-Abroad | 18 | 0.7 |
| Leasing-Domestic | 43 | 1.8 |
| Total, before eliminations | 2,415 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 8 Sept 2026 · C&AG appoints statutory auditor for RITES for FY 2026-27 | management changes | medium | — | — |
| 4 Sept 2026 · RITES shares 52nd AGM notice, e-voting and record date via newspaper ads | compliance | minimal | — | — |
| 3 Sept 2026 · RITES shares web link of FY26 Integrated Annual Report | investor communications | medium | — | — |
| 3 Sept 2026 · RITES 52nd AGM on Sept 25, 2026; final dividend Rs 2.75 per share proposed | board shareholder meetings | low | — | — |
| 3 Sept 2026 · RITES 52nd AGM on Sep 25, 2026; final dividend Rs 2.75 per share proposed | board shareholder meetings | low | — | — |
| 2 Sept 2026 · RITES notifies 52nd AGM on September 25, 2026 via video conferencing | compliance | minimal | — | — |
| 28 Aug 2026 · RITES opens branch office in South Africa for business development | business updates | medium | — | — |
| 27 Aug 2026 · RITES to participate in Elara India Dialogue 2026 on Sept 1 | board shareholder meetings | low | — | — |
| 25 Aug 2026 · RITES sets 20 Sep 2026 as record date for FY26 final dividend | corporate actions | high | — | — |
| 25 Aug 2026 · RITES fixes Sept 20, 2026 as Record Date for FY26 Final Dividend | corporate actions | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| LARSEN & TOUBRO LTD. | 5,40,766 | 32.6 | 4.21 | 19.5 | 14.7 | 11.9 | 16.0 | 12.5 |
| RAIL VIKAS NIGAM LIMITED | 42,722 | 47.5 | 4.35 | 30.4 | 8.9 | 7.5 | 5.8 | 7.5 |
| KALPATARU PROJECT INT LTD | 24,541 | 21.6 | 3.17 | 11.1 | 13.3 | 15.0 | 16.0 | 10.0 |
| IRB INFRA DEV LTD. | 23,770 | 18.2 | 1.13 | 10.5 | 4.1 | 2.5 | 7.6 | 55.6 |
| NBCC (INDIA) LIMITED | 22,383 | 30.3 | 6.96 | 18.8 | 23.1 | 29.7 | 13.5 | 9.6 |
| CEMINDIA PROJECTS LIMITED | 21,472 | 35.7 | 8.95 | 18.2 | 24.9 | 31.7 | 29.8 | 10.5 |
| ENGINEERS INDIA LTD | 15,144 | 19.3 | 4.81 | 16.9 | 22.0 | 26.5 | 4.6 | 20.1 |
| TECHNO ELEC & ENG CO. LTD | 11,339 | 26.3 | 2.73 | 18.6 | 11.4 | 12.4 | 29.6 | 20.4 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 24.2 | 14.9 | 75 of 107 | 30% |
| P/B | 3.6 | 1.4 | 72 of 86 | 17% |
| ROCE | 18.2 | 10.0 | 26 of 109 | 77% |
| ROE | 16.3 | 9.2 | 20 of 91 | 79% |
| Debt / Equity | 0.0 | 0.3 | 4 of 91 | 88% |
| EBITDA margin | 26.9 | 12.4 | 10 of 88 | 90% |
| Revenue growth | 8.7 | 6.2 | 39 of 86 | 55% |
| Profit growth | 7.6 | 2.7 | 36 of 84 | 58% |
| Market cap | 10076 | 485 | 12 of 108 | 90% |
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| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
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