Rail Vikas Nigam (RVNL) had a P/E of 44.9× on 6 Nov 2026, above the industry P/E of 16.4×, and the shares are 52% below their 52-week high. Its ROCE of 11% is the lowest among the 7 largest Engineering & Construction peers, and sales grew 0.2% a year over 3 years while net profit fell 13%. Its dividend yield is 0.9%, and debt is 0.49× equity. It is a mid-cap company with a market cap of ₹40,312 Cr, ranked 2nd of 156 Engineering & Construction companies by market cap; the shares fell 41% over the past year.
- ₹190.55
- ₹193.49
- ₹189.08
- ₹193.69
- 64.7 L
Health check
- ReturnsBehind
−40.5% over a year, better than 0 of 7 peers.
- Price tagPricier
P/E 44.9 vs industry 16.4.
- GrowthSlow
Sales +0.2%, profit −13.3% a year over 3 years.
- ProfitabilityWeak
ROCE 11.0% vs peer median 19.9%.
- Balance sheetStretched
Debt 0.49× equity, interest covered 3.8×, Piotroski 3 of 9.
- Red flags3 to check
P/E of 44.9 against an industry P/E of 16.4.
Mid cap
Moves with the market
Key metrics
- Market cap
- ₹40,312 Cr
- Mid cap
- P/E
- 44.9
- Industry 16.4
- Price to book
- 4.10
- Peers 5.01
- Dividend yield
- 0.88%
- ROE
- 9.0%
- Peers 17.9%
- ROCE
- 11.0%
- Peers 19.9%
- Debt to equity
- 0.49
- Debt ₹4,818 Cr
- EPS (TTM)
- ₹4.31
- Face value ₹10
- OPM (TTM)
- 4.3%
- Net margin 4.3%
- Sales growth
- +10.6%
- Latest quarter vs a year ago
- Profit growth
- +18.5%
- Latest quarter vs a year ago
- Price to sales
- 1.94
- EV/EBITDA 49.4
Strengths and risks
Risks to check
- P/E of 44.9 against an industry P/E of 16.4.
- 52% below its 52-week high.
- Interest coverage of only 1.9×.
About Rail Vikas Nigam
Rail Vikas Nigam Limited, together with its subsidiaries, engages in rail infrastructure works in India and internationally. The company undertakes rail project development and implementation, as well as provides financial resources mobilization services. It also executes various railway projects, including new lines, doubling, gauge conversion, railway electrification, workshops, bridge work, mega and monumental bridges, metro and metropolitan transport…
- Headquarters
- New Delhi
- Employees
- 250
- Sector
- Industrials
- ISIN
- INE415G01027
- Website
- rvnl.org
Price range
- Avg volume (3M)
- 45.6 L
- 1-year return
- minus 40.5%
- From 52-week high
- minus 51.7%
Peers · Engineering & Construction
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| LTLarsen & Toubro | 4,117.70 | plus 1.67% | 5,66,549 | 31.7 | 19.6 | 14.6% | 9.6% | 1.05 | 16.1% | plus 3.2% |
| RVNLRail Vikas Nigam | 193.34 | minus 0.18% | 40,312 | 44.9 | 56.9 | 11.0% | 4.3% | 0.49 | 0.2% | minus 40.5% |
| CEMPROCemindia Projects | 1,323.30 | plus 2.79% | 24,405 | 36.4 | 24.2 | 37.1% | 10.4% | 0.35 | 25.5% | plus 49.2% |
| KPILKalpataru Projects International | 1,370.80 | minus 0.04% | 23,410 | 19.7 | 10.1 | 19.9% | 8.3% | 0.46 | 18.4% | plus 4.3% |
| NBCCNBCC (India) | 78.00 | minus 2.90% | 21,060 | 26.5 | 19.8 | 34.3% | 6.1% | 0.00 | 12.9% | minus 29.5% |
| ENGINERSINEngineers India | 292.70 | minus 1.94% | 16,451 | 18.3 | 21.5 | 28.1% | 21.2% | 0.00 | 5.7% | plus 51.1% |
| WABAGVA Tech Wabag | 1,988.20 | plus 6.57% | 12,434 | 29.4 | 20.8 | 16.3% | 10.9% | 0.09 | 9.9% | plus 33.2% |
| LOTUSDEVSri Lotus Developers and Realty | 233.82 | minus 0.16% | 11,427 | 39.0 | 38.2 | 16.7% | 36.7% | 0.06 | 66.4% | plus 31.7% |
| Median of 7 peers | – | −0.04% | 21,060 | 29.4 | 20.8 | 19.9% | 10.4% | 0.09 | 16.1% | 31.7% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 3,909 | 5,123 | 4,684 | 6,696 | 4,321 | |
| 3,853 | 4,906 | 4,464 | 6,427 | 4,137 | |
| 55.5 | 217 | 221 | 269 | 185 | |
| 1.4% | 4.2% | 4.7% | 4.0% | 4.3% | |
| 238 | 234 | 308 | 89.1 | 147 | |
| 111 | 100 | 105 | 97.6 | 97.9 | |
| 8.9 | 8.9 | 8.9 | 9.7 | 10.4 | |
| 173 | 342 | 415 | 250 | 224 | |
| 22.5% | 32.7% | 21.9% | 27.4% | 28.6% | |
| 135 | 230 | 323 | 187 | 159 | |
| 0.65 | 1.10 | 1.55 | 0.90 | 0.76 |
Profit & loss
- Sales CAGR 3Y
- +0.2%
- Profit CAGR 3Y
- −13.3%
- EPS CAGR 3Y
- −14.9%
- ROE
- 9.0%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 20,282 | 21,879 | 19,923 | 20,412 | |
| – | +7.9% | minus 8.9% | +2.5% | |
| 19,015 | 20,482 | 18,776 | 19,631 | |
| 1,266 | 1,396 | 1,147 | 781 | |
| 6.2% | 6.4% | 5.8% | 3.8% | |
| 547 | 736 | 634 | 463 | |
| 581 | 568 | 545 | 419 | |
| 42.3 | 37.8 | 47.2 | 50.2 | |
| 529 | 504 | 458 | 406 | |
| 1,719 | 2,030 | 1,646 | 1,181 | |
| 22.0% | 23.6% | 22.4% | 26.3% | |
| 1,342 | 1,551 | 1,278 | 875 | |
| – | +15.6% | minus 17.6% | minus 31.5% | |
| 6.81 | 7.44 | 6.13 | 4.20 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 2,085 | 2,085 | 2,085 | 2,085 | |
| 5,161 | 6,637 | 7,486 | 7,737 | |
| 6,441 | 6,033 | 5,419 | 4,818 | |
| 4,656 | 4,822 | 5,492 | 7,062 | |
| 18,344 | 19,577 | 20,482 | 21,702 | |
| 597 | 931 | 885 | 886 | |
| 257 | 573 | 0.3 | 0.3 | |
| 153 | 10 | 23 | 27 | |
| 851 | 1,143 | 3,570 | 634 | |
| 16,487 | 16,920 | 16,004 | 20,154 | |
| 18,344 | 19,577 | 20,482 | 21,702 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −4,064 | 2,956 | 1,881 | −1,889 | |
| 1,355 | −1,401 | 1,629 | 942 | |
| −1,048 | −1,287 | −1,487 | −1,624 | |
| −3,757 | 269 | 2,023 | −2,571 | |
| −61.2 | −340 | −432 | −61 | |
| −4,125 | 2,615 | 1,449 | −1,950 | |
| −433 | −444 | −440 | −573 |
Shareholding pattern
NSE hasn’t returned a shareholding pattern for this company. Institutions hold about 8.2% (Yahoo estimate).
Major shareholders
Filings & events
News
No recent news coverage found.