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Tue, 29 Sept 2026
11:37:55 pm
Tue, 29 Sept 2026
11:37:55 pm
Synopsis
RVNL Q1 FY27 results: Net profit rises 19% to ₹159.52 crore and revenue grows 10.6% to ₹4,321.23 crore. Check margins, stock performance and KRCL receivables.
Rail Vikas Nigam Limited reported a 19% year on year increase in consolidated net profit to ₹159.52 crore for the June quarter of FY27, compared with ₹134.36 crore in Q1 FY26. Revenue from operations rose 10.6% to ₹4,321.23 crore from ₹3,908.77 crore, while profit before tax increased 28.9% to ₹223.54 crore. The company also reported higher earnings per share of ₹0.76 against ₹0.65 a year earlier. The quarterly performance came with an improvement in operating profitability, although auditors highlighted a ₹1,091.91 crore receivable from Krishnapatnam Railway Company Limited as an item investors need to monitor.
The company also recorded a sharp improvement in EBITDA during the quarter, with operational EBITDA rising to ₹185 crore from ₹56 crore in Q1 FY26. EBITDA margin expanded to 4.27% from 1.42%. At the same time, RVNL's stock remains below its previous 52 week high of ₹400.70, having fallen 32.85% over the past year and 28% over six months based on the supplied data. The shares have nevertheless delivered a 686.32% return over five years, highlighting the wide difference between its long term performance and recent movement.
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RVNL's consolidated revenue from operations increased to ₹4,321.23 crore in Q1 FY27 from ₹3,908.77 crore in the year ago quarter. Total income stood at ₹4,462.29 crore, including other income of ₹141.06 crore. Total expenses increased to ₹4,244.91 crore from the previous year's level, while profit before tax rose 28.9% to ₹223.54 crore. After tax expenses of ₹64.02 crore, consolidated net profit reached ₹159.52 crore, compared with ₹134.36 crore in Q1 FY26.
| Financial metric | Q1 FY27 | Q1 FY26 | YoY change |
|---|---|---|---|
| Revenue from operations | ₹4,321.23 crore | ₹3,908.77 crore | +10.6% |
| Total income | ₹4,462.29 crore | Not provided | Not provided |
| Profit before tax | ₹223.54 crore | ₹173.41 crore | +28.9% |
| Net profit | ₹159.52 crore | ₹134.36 crore | +18.7% |
| EPS | ₹0.76 | ₹0.65 | +16.9% |
Operating profitability improved at a faster pace than revenue during the quarter. EBITDA increased to ₹185 crore from ₹56 crore, representing a 232% year on year increase. EBITDA margin also expanded to 4.27% from 1.42%, a 285 basis point improvement. The figures indicate that operating earnings grew faster than revenue during Q1 FY27.
| Operating metric | Q1 FY27 | Q1 FY26 | Change |
|---|---|---|---|
| EBITDA | ₹185 crore | ₹56 crore | +232% |
| EBITDA margin | 4.27% | 1.42% | +285 bps |
Statutory auditors drew attention to RVNL's receivable from Krishnapatnam Railway Company Limited (KRCL). As of June 30, 2026, the total receivable stood at ₹1,091.91 crore, including ₹889.95 crore relating to interest on delayed payment. The corresponding receivable as of June 30, 2025 was ₹1,275.25 crore, which also included ₹889.95 crore of interest.
The matter relates to the method used to calculate interest on delayed payments. RVNL changed the interest application from compound interest to simple interest with effect from October 1, 2024. KRCL has requested that simple interest be applied retrospectively from April 1, 2020. The applicability of simple interest for the period before September 30, 2024 remains under discussion, and any resulting financial adjustment will be recognised when the matter is concluded.
RVNL's standalone net profit increased to ₹155.62 crore in Q1 FY27 from ₹127.85 crore in the same quarter last year. The consolidated results include the interim results of nine subsidiaries and one associate along with eight joint ventures. The company stated that the results of one subsidiary and four joint ventures could not be included because the required financial information was not available, although management said the impact was not material to the group.
RVNL also informed the stock exchanges that its wholly owned subsidiary, RVNL Infra South Africa, was deregistered with effect from June 30, 2026. The update was disclosed under the applicable SEBI LODR requirements along with the quarterly financial results.
RVNL shares have seen considerable volatility across different periods. The stock has declined 0.29% over one day, 1.25% over five days and 1.15% over one month. The six month decline stands at 28%, while the stock has fallen 32.85% over one year. Over five years, however, RVNL has delivered a 686.32% return based on the supplied stock performance data.
| Period | Stock return |
|---|---|
| 1 day | -0.29% |
| 5 days | -1.25% |
| 1 month | -1.15% |
| 6 months | -28.00% |
| 1 year | -32.85% |
| 5 years | +686.32% |
The Q1 FY27 results show improvement in RVNL's revenue, profit and operating earnings, with EBITDA growth significantly ahead of revenue growth and margins expanding during the quarter. The ₹1,091.91 crore KRCL receivable remains an important matter to track because the final resolution of the interest calculation issue could affect the accounting treatment of the receivable. Investors can also monitor future earnings, order execution and developments around the company's subsidiaries and joint ventures as the financial year progresses.
RVNL reported a consolidated net profit of ₹159.52 crore in Q1 FY27, up 18.7% from ₹134.36 crore in Q1 FY26.
RVNL's revenue from operations increased 10.6% year on year to ₹4,321.23 crore in Q1 FY27 from ₹3,908.77 crore.
RVNL's EBITDA increased 232% to ₹185 crore from ₹56 crore in Q1 FY26.
RVNL's EBITDA margin improved to 4.27% in Q1 FY27 from 1.42% in the year ago quarter.
RVNL had ₹1,091.91 crore receivable from Krishnapatnam Railway Company Limited (KRCL) as of June 30, 2026. The amount includes ₹889.95 crore related to interest on delayed payments.
The issue relates to the method used to calculate interest on delayed payments. RVNL changed from compound interest to simple interest from October 1, 2024, while KRCL has sought retrospective application of simple interest from April 1, 2020.
RVNL reported basic EPS of ₹0.76 in Q1 FY27, compared with ₹0.65 in Q1 FY26.
RVNL shares have declined 32.85% over one year based on the supplied stock performance data.
RVNL has delivered a 686.32% return over five years based on the supplied stock performance data.
RVNL's 52 week high was ₹400.70, recorded on December 29, 2025, while the 52 week low was ₹220.16, recorded on July 28, 2026.
Investors can track profit growth, EBITDA margins, order execution and the resolution of the KRCL receivable issue. Future developments involving subsidiaries and joint ventures may also influence the company's financial performance.
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