Rail Vikas Nigam Limited Earnings Summary — Q1 FY2027
RVNL Reports 18.7% Consolidated Profit Growth Amid Revenue Expansion in Q1 FY2027
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue declined 35.5% sequentially in Q1 FY2027.
- Revenue of ₹4,321 Cr is 10.6% higher year-on-year.
- Revenue has compounded at -17.8% annualised over the last 10 quarters.
- Net profit of ₹159 Cr is 18.5% above the same quarter last year.
- Profit growth is outpacing revenue growth, pointing to positive operating leverage.
- Net profit has compounded at -38.7% annualised across the period.
- Operating margin stands at 4.3% in Q1 FY2027.
- Operating margin expanded by 292 bps year-on-year.
- Over the last two years operating margin has contracted by 19 bps.
- PBT margin is 5.2%.
- Expense growth of 7.3% remained below revenue growth of 10.6%.
- Operating profit of ₹185 Cr is 249.1% higher year-on-year.
- Operating leverage continues to improve.
- 4 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 47/100 (Moderate) on the latest 10 quarters.
- Business momentum remains positive heading into the next quarter.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Stable | 4,321 | 6,696 | 4,684 | 5,123 | 3,909 | 6,427 | 4,567 | 4,855 | 4,074 | 6,714 |
| Expenses | Stable | 4,137 | 6,427 | 4,464 | 4,906 | 3,856 | 5,994 | 4,328 | 4,599 | 3,892 | 6,258 |
| Operating Profit | Volatile | 185 | 269 | 221 | 217 | 53 | 433 | 239 | 256 | 182 | 456 |
| Operating Margin | Volatile | 4.3% | 4.0% | 4.7% | 4.2% | 1.4% | 6.7% | 5.2% | 5.3% | 4.5% | 6.8% |
| Other Income | Accelerating | 147 | 89 | 308 | 234 | 238 | 236 | 326 | 281 | 264 | 323 |
| Interest | Softening | 98 | 98 | 105 | 100 | 108 | 117 | 145 | 141 | 137 | 150 |
| Depreciation | Improving | 10 | 10 | 9 | 9 | 9 | 9 | 7 | 7 | 7 | 4 |
| Profit Before Tax | Volatile | 224 | 250 | 415 | 342 | 173 | 543 | 413 | 389 | 302 | 625 |
| Tax | Volatile | 64 | 69 | 91 | 112 | 39 | 87 | 101 | 102 | 78 | 147 |
| Net Profit | Volatile | 159 | 187 | 323 | 230 | 135 | 455 | 311 | 287 | 224 | 479 |
| Net Margin | Stable | 3.7% | 2.8% | 6.9% | 4.5% | 3.4% | 7.1% | 6.8% | 5.9% | 5.5% | 7.1% |
Key Takeaways
- Consolidated revenue from operations grew 10.55% YoY to ₹4,321.23 crore in Q1 FY2027.
- Net Profit attributable to equity holders of the parent rose to ₹159.36 crore compared to ₹134.53 crore in the same period last year.
- The company successfully deregistered its South African subsidiary, RVNL Infra South Africa, effective June 30, 2026.
- A significant audit emphasis persists regarding ₹1,091.91 crore receivable from Krishnapatnam Railway Company Limited (KRCL), primarily involving disputed interest calculations.
- Consolidated finance costs decreased slightly to ₹97.88 crore from ₹110.83 crore YoY, aiding the bottom-line growth.
- Segment reporting remains concentrated in a single operating segment: Development of Rail Infrastructure.
Management Guidance
Management focus remains on transitioning to a Navratna PSU structure with increased autonomy to bid for international projects in regions like Maldives and Uzbekistan to diversify from domestic rail bottlenecks.
Sentiment Shift
Improving
Year-on-year profitability and revenue show recovery despite sequential seasonal dips; Navratna status provides better bidding flexibility.
Outlook
The outlook remains stable driven by a strong domestic order book and international expansion plans, though execution speed and working capital cycles for joint ventures like KRCL remain key monitoring areas.
From the Annual Report (Key Quotes)
“The application of interest has been changed from compound to simple w.e.f 1st October 2024... Any adjustment arising upon finalisation of the matter will be recognised in the period in which the matter is concluded.”
“Rail Vikas Nigam Limited (RVNL) has deregistered its wholly owned subsidiary, namely, RVNL Infra South Africa... with effect from 30 June 2026.”
Official Quarterly Documents
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This summary is AI-generated from Rail Vikas Nigam Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.