Q4 2026 Rail Vikas Nigam Ltd Earnings Call Transcript
Key Points
- Rail Vikas Nigam Ltd (BOM:542649) reported a strong growth in revenue during Q4 FY 2025-26, with a 47.6% increase quarter-to-quarter.
- The company has a robust and diversified order book totaling INR99,262 crore, providing healthy multiyear execution visibility.
- Order inflows for the full financial year 2025-26 stood at INR5,875 crore, with additional joint venture works amounting to INR1,211 crore.
- The company achieved an MOU rating of 'very good' for the year 2024-25 from the Department of Public Enterprises.
- Rail Vikas Nigam Ltd is actively pursuing opportunities in diversified infrastructure and emerging business areas, positioning itself for long-term sustainable growth.
- Despite revenue growth, profitability was under pressure with standalone EBITDA declining by 16.88% quarter-to-quarter.
- EBITDA margin reduced significantly from 10.36% in Q3 to 5.83% in Q4 2026, indicating margin pressure.
- PAT declined by 19.6% quarter-to-quarter and 43.4% year-over-year, reflecting increased cost burden during execution.
- The company faced challenges with cash flow due to receivables from the Ministry of Railways, impacting liquidity.
- There is a concern over increased receivables, particularly from Krishnapatnam Railway Companies, which stands at INR1,116 crore, including INR890 crore of interest.
(audio in progress) Shri Mritunjay Pratap Singh, Director Operations; Shri. Abhishek Kumar, Director of Finance; Shri. Amit Tandon, Director, Projects; and Shri. Chandan Kumar Verma, Chief Financial Officer. (Operator Instructions) Please note that this conference is being recorded. We will start with a brief opening remarks from CMD sir which will be followed by a question-and-answer session. Thank you, and over to you, sir.
Good afternoon, everyone. Thank you for joining us today for our earnings call of RVNL for this quarter and year ending March 31, 2026. As all of you know, RVNL's portfolio comprises primarily of infrastructure-focused businesses, which spans across rail infrastructure, metros, roads and highways, transmission and port harbor.
Although this year has been challenging for the company, RVNL has remained focused on sustaining its operational performance and ensuring timely execution of key projects. Despite market and sectoral headwinds, we continue to
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