Rail Vikas Nigam Limited (RVNL) Earnings Call Transcripts

Rail Vikas Nigam Limited's Latest Earnings Call - Q4 FY2026

In Q4 FY 2026, Rail Vikas Nigam Limited (RVNL) reported a significant revenue increase of 47.6% quarter-over-quarter, reaching a stand-alone turnover driven by a strong order book of INR 99,262 crore. However, profitability faced challenges, with PAT declining by 19.6% quarter-over-quarter, indicating margin pressure primarily due to onerous contracts. Management maintained a positive outlook, signaling expectations of revenue growth of 15% to 20% for FY 2027, while also indicating a potential improvement in margins in the upcoming quarters.

Reported metrics

Guidance from management

Management expects revenue growth of 15% to 20% for FY 2027 and anticipates improved margins in the upcoming quarters, stating, "we are hopeful that we will definitely improve our margins in the first quarter of the '27 year."

What management said

PAT looks lower in this quarter, but if we adjust for another contract of INR 54 crores, and we have paid municipal taxes on new building and we have readjusted after reconciliation of our SPV amounting to INR 35 crores. So you will see that the PAT is like slightly better than the last year -- than the last quarter. So definitely, now the book like adjustment for the contract has been done. And we are hoping that --...

Cash flow is a challenge because we are working for Ministry of Railways, and we have to get money from Ministry of Railways. You see that over INR 3,400 crores were receivable from MoR, which we could not get within this year, but we have received now in April, so that was the reason for cash flow negative.

What analysts pressed on

Analysts expressed concerns regarding the decline in profitability and cash flow challenges due to high receivables from the Ministry of Railways. There were questions about the sustainability of margins and the timeline for resolving significant receivables from Krishnapatnam Railway Companies.

Main topics on the call

• Strong Revenue Growth — RVNL's stand-alone turnover increased by 47.6% quarter-over-quarter and 4.8% year-over-year, reflecting healthy execution momentum. Management noted, "the company has achieved an MOU rating of very good for the year 2024...
• Profitability Challenges — Despite revenue growth, EBITDA declined by 16.88% quarter-over-quarter and 33.55% year-over-year, with EBITDA margin dropping to 5.83%. Management acknowledged, "pressure on margins and profitability remains a key area o...
• Order Book Strength — RVNL's total order book stood at INR 99,262 crore, with significant contributions from railways and signaling. The company reported a stand-alone order inflow of INR 4,644 crore in Q4, indicating strong execution visibil...
• Future Revenue and Margin Guidance — Management expects revenue growth of 15% to 20% for FY 2027, with improved margins anticipated. They stated, "we are hopeful to achieve the targets and have a good revenue and good profit, good margins."

Read the full Rail Vikas Nigam Limited transcript (Q4 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 8 Rail Vikas Nigam Limited earnings call transcripts on record, spanning February 9, 2024 to May 26, 2026. Based on this history, Rail Vikas Nigam Limited reports semi-annually. The most recent call on file is dated May 26, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

RVNL

Exchange

NSEI

Country

IN

Sector

Industrials

Industry

Construction and Engineering

Calls on record

8

First call

February 9, 2024

Most recent

May 26, 2026

Reporting cadence

semi-annually