Rail Vikas Nigam Ltd. (RVNL) AI Stock Analysis

• Market Cap: ₹679.20B
• Dividend Yield: 0.55%
• Average Volume (3M): 487.78K
• Price to Earnings (P/E): 57.0
• Beta (1Y): 1.95
• Revenue Growth: -1.51%
• EPS Growth: -15.77%
• Country: IN
• Employees: 186
• Sector: Services
• Sector Strength: N/A
• Industry: Engineering & Construction
• EPS (TTM): 1.10
• Shares Outstanding: 2,085,020,300
• 10 Day Avg. Volume: 313,495
• 30 Day Avg. Volume: 487,777
• PEG Ratio: -3.29
• Price to Book (P/B): 7.63
• Price to Sales (P/S): 3.66
• P/FCF Ratio: 50.47
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 60 Neutral
• Price Target: ₹364.00 ▲(17.08% Upside)

Rail Vikas Nigam Ltd. has a solid financial foundation with strong profitability, but faces challenges with cash flow stability and increased liabilities. The technical indicators suggest neutral momentum, while the high P/E ratio and low dividend yield indicate potential overvaluation. These factors collectively result in a moderate stock score.

Positive Factors

Strong Profitability

The company's strong profitability and solid equity position indicate efficient operations and a robust financial foundation, supporting long-term growth and stability.

Solid Equity Position

An improving equity ratio reflects a strengthening financial base, enhancing the company's ability to fund projects and withstand economic fluctuations.

Healthy Margins

Sustained healthy margins indicate effective cost management and pricing strategies, ensuring profitability even in challenging market conditions.

Negative Factors

Revenue Decline

A decline in revenue suggests potential challenges in project acquisition or execution, which could impact future growth prospects if not addressed.

Increased Liabilities

Rising liabilities may strain financial resources and limit the company's ability to invest in new projects, affecting long-term operational flexibility.

Cash Flow Volatility

Volatile cash flow can hinder financial planning and investment capabilities, posing risks to sustaining operations and funding future growth initiatives.

Rail Vikas Nigam Ltd. Business Overview & Revenue Model

Company Description

Rail Vikas Nigam Limited engages in the construction of rail infrastructure projects in India. It undertakes rail project development and implementation, as well as provides financial resources mobilization services. The company executes various railway projects, including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, bridges, construction of cable stayed bridges, institution buildings, etc. It serves Indian Railways, various central and state government ministries, departments, and public sector undertakings. Rail Vikas Nigam Limited was incorporated in 2003 and is based in New Delhi, India.

How the Company Makes Money

RVNL generates revenue primarily through project execution and management contracts awarded by the Indian government and the Ministry of Railways. The company's revenue model is based on a mix of fixed-price contracts and cost-plus contracts, where they earn fees for the services rendered in the design and implementation of railway projects. Key revenue streams include income from construction projects, consultancy services, and project management fees. Additionally, RVNL benefits from partnerships with various stakeholders, including state governments and private sector firms, which further enhances its project portfolio and revenue opportunities. The company also earns revenue from the sale of land and assets associated with railway projects, contributing to its overall earnings.

Rail Vikas Nigam Ltd. Financial Statement Overview

Summary

Rail Vikas Nigam Ltd. shows strong profitability and a solid equity position, despite recent revenue downturn and increased liabilities. The company maintains profitability amidst fluctuating cash flow, but needs improvement in cash flow stability and debt management.

Income Statement

Rail Vikas Nigam Ltd. has demonstrated a solid financial performance with positive revenue growth from 2021 to 2024, although there was a decline in 2025. The company maintained a strong gross profit margin, and the net profit margin remained healthy throughout the periods. Despite a fall in revenue and net income in 2025, the overall financial health in terms of profitability remains robust, supported by strong EBIT and EBITDA margins.

Balance Sheet

The balance sheet shows a moderate debt-to-equity ratio, indicating a balanced approach to leveraging. The equity ratio has improved over the years, suggesting a strengthening equity position. However, the increase in total liabilities in 2025 could be a potential concern. Return on equity has been solid, reflecting efficient management of equity.

Cash Flow

The cash flow analysis reveals fluctuations in free cash flow, with high volatility observed in operating cash flow over the years. Despite this, the company has managed to sustain positive net income, indicating some resilience. The free cash flow to net income ratio is positive, yet the variability in free cash flow growth suggests a need for more stable cash flow management.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	197.58B	199.23B	218.79B	202.82B	193.82B	154.04B
Gross Profit	14.55B	15.22B	17.13B	15.62B	14.79B	11.74B
EBITDA	10.11B	11.36B	13.65B	12.33B	11.71B	8.65B
Net Income	11.92B	12.81B	15.51B	13.42B	11.10B	9.92B
Balance Sheet
Total Assets	0.00	204.82B	196.12B	184.22B	198.81B	141.52B
Cash, Cash Equivalents and Short-Term Investments	35.70B	35.70B	11.45B	8.51B	57.30B	14.95B
Total Debt	0.00	54.19B	60.33B	64.41B	66.43B	59.31B
Total Liabilities	-95.71B	109.11B	108.66B	110.97B	134.84B	85.85B
Stockholders Equity	95.71B	95.71B	87.46B	72.46B	63.25B	55.67B
Cash Flow
Free Cash Flow	0.00	14.46B	26.14B	-41.37B	46.84B	5.14B
Operating Cash Flow	0.00	18.78B	29.54B	-40.76B	48.00B	6.57B
Investing Cash Flow	0.00	16.29B	-13.99B	13.55B	-14.27B	746.90M
Financing Cash Flow	0.00	-14.84B	-12.87B	-10.36B	-1.87B	4.16B

Rail Vikas Nigam Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 310.90
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:RVNL, the sentiment is Negative. The current price of 310.9 is below the 20-day moving average (MA) of 319.10, below the 50-day MA of 329.26, and below the 200-day MA of 354.61, indicating a bearish trend. The MACD of -3.78 indicates Positive momentum. The RSI at 36.47 is Neutral, neither overbought nor oversold. The STOCH value of 8.99 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:RVNL.

Rail Vikas Nigam Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IRB	71 Outperform	₹270.00B	4.13	―	0.56%	-1.42%	968.58%
ASHOKA	69 Neutral	₹57.76B	3.28	―	―	-17.28%	43.34%
AHLUCONT	68 Neutral	₹61.49B	27.61	―	0.06%	5.56%	-22.59%
JKIL	67 Neutral	₹48.13B	11.81	―	0.71%	13.96%	12.91%
RVNL	60 Neutral	₹679.20B	56.98	―	0.55%	-1.51%	-15.77%
GRINFRA	60 Neutral	₹111.24B	10.08	―	1.18%	-6.01%	-3.81%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%

Rail Vikas Nigam Ltd. Corporate Events

Rail Vikas Nigam Ltd. Announces Trading Window Closure

Rail Vikas Nigam Limited has announced the closure of its trading window in compliance with SEBI’s Prohibition of Insider Trading Regulations, 2015. This closure will be in effect from October 1, 2025, until 48 hours after the financial results for the quarter ending September 30, 2025, are declared. This measure is part of RVNL’s commitment to maintaining transparency and regulatory compliance, ensuring that all designated persons and insiders adhere to the company’s insider trading code.

Rail Vikas Nigam Limited Secures Key Southern Railway Project

Rail Vikas Nigam Limited has emerged as the lowest bidder for a significant project from Southern Railway, involving the design and commissioning of traction substations and associated equipment in the Salem Division. This development is part of the company’s routine business activities and aligns with its ongoing efforts to support India’s railway infrastructure expansion.