Rail Vikas Nigam (RVNL) Q4 24/25 earnings summary

Executive summary

• Transitioned from assigned railway projects to competitive bidding across multiple infrastructure sectors, including metros, highways, ports, manufacturing, and telecom, notably with BharatNet tenders.

• Audited standalone and consolidated financial results for the quarter and year ended 31st March 2025 were approved, with auditors expressing an unmodified opinion on both sets of results.

• A final dividend of Rs. 1.72 per share (17.20% of face value) was recommended for FY 2024-25, subject to shareholder approval.

• Confident in future growth as order book from bidding projects now exceeds assigned railway projects, reflecting organizational resilience and adaptability.

• Appointment of M/s. Sinha & Srivastava LLP as Secretarial Auditor for five years, pending AGM approval.

Financial highlights

• Standalone revenue from operations for FY25 was Rs. 19,869.35 crore, down from Rs. 21,732.58 crore in FY24; consolidated revenue was Rs. 19,923.02 crore, down from Rs. 21,878.53 crore year-over-year.

• Standalone net profit for FY25 was Rs. 1,188.62 crore, compared to Rs. 1,462.95 crore in FY24; consolidated net profit was Rs. 1,281.52 crore, down from Rs. 1,550.87 crore year-over-year.

• Standalone EPS for FY25 was Rs. 5.70, down from Rs. 7.02 in FY24; consolidated EPS was Rs. 6.15, down from Rs. 7.44 year-over-year.

• FY25 turnover reached approximately INR 19,500 crore, missing the INR 21,000 crore guidance due to funding shortfalls from the Ministry of Railways.

• Order inflow for FY25 was INR 14,000 crore, with a target to increase by 20%-25% in FY26.

Outlook and guidance

• Turnover for the current year is expected to remain around INR 21,000 crore, with growth anticipated beyond this level as the business model shift stabilizes.

• Margins are expected to be maintained or improved through diversification and operational efficiency, despite competitive pressures in EPC contracts.

• International business is a strategic focus, aiming to increase overseas order book from INR 4,000 crore to potentially 2-3 times higher within the year.

• The Board expects to pay the final dividend within 30 days of AGM approval.