Rail Vikas Nigam Ltd (RVNL) Stock Price, Fundamentals, Valuation & Analysis

🧬 TickerPulse Stock DNA

8-pillar deterministic fundamental framework with transparent methodology

Composite: Not available

⚡ What Changed? (Recent Signal Radar)

Real-time delta analysis across price discovery, institutional flows, and disclosures

Evidence-Backed Signals • Q3 FY25

Price Move ↑

+3.82%

Short-term demand accumulation with positive intraday momentum.

Inspect Evidence →

Institutional Flow (FII/DII) 🏛️

Holding at 2.4%

Foreign & domestic institutions retain solid allocation across top-tier funds.

Inspect Evidence →

Capital Productivity ⚙️

ROE: 9.2%

Double-digit return on equity ensures sustainable organic balance sheet expansion.

Inspect Evidence →

Exchange Filings & Disclosures 📑

3 Verified Filings

Audited annual reports and earnings presentations submitted to BSE & NSE on schedule.

Inspect Evidence →

Forensic Solvency Radar 🛡️

0 Red Flags Detected

Piotroski health score and debt service coverage pass all standard regulatory thresholds.

Inspect Evidence →

📈 Price & Technical Intelligence

Interactive price action with toggleable 50/200 DMA, VWAP, Bollinger Bands, Volume, and RSI overlays

Overlays: 50 DMA 200 DMA Volume VWAP Bollinger (20,2) RSI (14)

Daily OHLC history · Upstox · Latest session: 09 Nov 2026

50-Day DMA ● Overlay

₹202.07

200-Day DMA ● Overlay

₹187.41

14-Day RSI ● Overlay

65.4 (Neutral)

Trend Signal

Strong Bullish

📐 Key Fundamentals & Valuation Multiples

Core financial metrics computed from live market prices and audited regulatory filings

Source: Exchange Disclosures • Q3 FY25

Market Cap Live Size

₹41,075 Cr

Large cap

Stock P/E (TTM) Valuation

49.6x

Price / EPS

Book Value (₹) Assets

₹42.5

P/B: 4.6x

ROE (%) Quality

9.2%

Net Profit / Equity

ROCE (%) Efficiency

11.0%

EBIT / Capital

Dividend Yield Yield

0.87%

Face Value: ₹10

Debt / Equity Solvency

0.54x

Manageable

EPS (TTM) Per Share

₹3.97

Trailing 12M

OPM (%) Spread

4.1%

EBITDA Margin

Free Cash Flow Cash

-₹1,977 Cr

CFO - Capex

About Rail Vikas Nigam Ltd

Rail Vikas Nigam Ltd (RVNL) is a leading Indian enterprise operating in the Infrastructure & Realty sector.

🧬 DuPont 3-Stage ROE Decomposition:

Margin: 3% × Turnover: 0.85x × Leverage: 1.54x = ROE: 9.16%

✓ Company Strengths (Pros)

• TickerPulse fundamental algorithm rates overall quality at 80/100.

⚠ Key Considerations & Risks (Cons)

• Valuation is sensitive to broader macroeconomic and sectoral interest rate cycles.

📑 10-Year Comprehensive Financial Statements

✓ 100% Coverage (15/15 Metrics)

Audited financial statements • Latest: Q3 FY25 (Dec 2024) / Audited FY24 • Source: Company Disclosures & BSE

Latest Sales

₹20,390 Cr

Latest PAT

₹828.00 Cr

EPS (TTM)

₹3.97

OPM %

4.1%

5Y Sales CAGR

14%

5Y Profit CAGR

18%

Swipe → to view historical periods

Quarter (₹ Cr)	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales / Revenue	₹5,572 Cr	₹4,914 Cr	₹4,689 Cr	₹6,714 Cr	₹4,074 Cr	₹4,855 Cr	₹4,567 Cr	₹6,427 Cr	₹3,909 Cr	₹5,123 Cr	₹4,684 Cr	₹6,696 Cr	₹4,321 Cr
Operating Profit (EBITDA)	₹349.00 Cr	₹298.00 Cr	₹249.00 Cr	₹456.00 Cr	₹182.00 Cr	₹256.00 Cr	₹239.00 Cr	₹433.00 Cr	₹53.00 Cr	₹217.00 Cr	₹221.00 Cr	₹269.00 Cr	₹185.00 Cr
OPM %	6.0%	6.0%	5.0%	7.0%	4.5%	5.0%	5.0%	7.0%	1.4%	4.2%	4.7%	4.0%	4.3%
Interest Expense	₹146.00 Cr	₹133.00 Cr	₹139.00 Cr	₹150.00 Cr	₹137.00 Cr	₹141.00 Cr	₹145.00 Cr	₹117.00 Cr	₹108.00 Cr	₹100.00 Cr	₹105.00 Cr	₹98.00 Cr	₹98.00 Cr
Depreciation	₹6.00 Cr	₹6.00 Cr	₹5.00 Cr	₹4.00 Cr	₹7.00 Cr	₹7.00 Cr	₹7.00 Cr	₹9.00 Cr	₹9.00 Cr	₹9.00 Cr	₹9.00 Cr	₹10.00 Cr	₹10.00 Cr
Profit before Tax (PBT)	₹487.00 Cr	₹480.00 Cr	₹463.00 Cr	₹625.00 Cr	₹302.00 Cr	₹389.00 Cr	₹413.00 Cr	₹543.00 Cr	₹173.00 Cr	₹342.00 Cr	₹415.00 Cr	₹250.00 Cr	₹224.00 Cr
Net Profit (PAT)	₹343.00 Cr	₹394.00 Cr	₹359.00 Cr	₹478.00 Cr	₹224.00 Cr	₹287.00 Cr	₹312.00 Cr	₹455.00 Cr	₹134.00 Cr	₹231.00 Cr	₹324.00 Cr	₹182.00 Cr	₹160.00 Cr
EPS in ₹	₹1.64	₹1.89	₹1.72	₹2.30	₹1.07	₹1.38	₹1.49	₹2.18	₹0.65	₹1.10	₹1.55	₹0.90	₹0.76

Annual P&L (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	₹3,147 Cr	₹4,540 Cr	₹5,915 Cr	₹7,597 Cr	₹10,069 Cr	₹14,531 Cr	₹15,404 Cr	₹19,382 Cr	₹20,282 Cr	₹21,879 Cr	₹19,923 Cr	₹20,412 Cr	₹20,825 Cr
Expenses	₹3,001 Cr	₹4,323 Cr	₹5,688 Cr	₹7,215 Cr	₹9,538 Cr	₹13,757 Cr	₹14,524 Cr	₹18,199 Cr	₹19,035 Cr	₹20,525 Cr	₹18,793 Cr	₹19,645 Cr	₹19,934 Cr
Operating Profit	₹146.00 Cr	₹217.00 Cr	₹228.00 Cr	₹382.00 Cr	₹531.00 Cr	₹773.00 Cr	₹880.00 Cr	₹1,183 Cr	₹1,246 Cr	₹1,354 Cr	₹1,131 Cr	₹767.00 Cr	₹891.00 Cr
OPM %	4.6%	4.8%	3.9%	5%	5%	5%	6%	6%	6%	6%	6%	3.8%	4.3%
Interest	₹15.00 Cr	₹23.00 Cr	₹35.00 Cr	₹45.00 Cr	₹52.00 Cr	₹41.00 Cr	₹458.00 Cr	₹564.00 Cr	₹581.00 Cr	₹568.00 Cr	₹545.00 Cr	₹419.00 Cr	₹400.00 Cr
Depreciation	₹5.00 Cr	₹5.00 Cr	₹5.00 Cr	₹5.00 Cr	₹6.00 Cr	₹20.00 Cr	₹23.00 Cr	₹21.00 Cr	₹22.00 Cr	₹21.00 Cr	₹31.00 Cr	₹36.00 Cr	₹38.00 Cr
Profit before Tax	₹248.00 Cr	₹370.00 Cr	₹543.00 Cr	₹664.00 Cr	₹839.00 Cr	₹958.00 Cr	₹1,207 Cr	₹1,430 Cr	₹1,719 Cr	₹2,030 Cr	₹1,646 Cr	₹1,181 Cr	₹1,231 Cr
Net Profit	₹337.00 Cr	₹429.00 Cr	₹443.00 Cr	₹570.00 Cr	₹688.00 Cr	₹757.00 Cr	₹992.00 Cr	₹1,110 Cr	₹1,342 Cr	₹1,551 Cr	₹1,278 Cr	₹871.00 Cr	₹896.00 Cr
EPS in Rs	1.62	2.06	2.13	2.73	3.30	3.63	4.76	5.32	6.44	7.44	6.13	4.20	4.31

Balance Sheet (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	₹2,085 Cr	₹2,085 Cr	₹2,085 Cr	₹2,085 Cr	₹2,085 Cr	₹2,085 Cr	₹2,085 Cr	₹2,085 Cr	₹2,085 Cr	₹2,085 Cr	₹2,085 Cr	₹2,085 Cr
Reserves & Surplus	₹975.00 Cr	₹1,337 Cr	₹1,472 Cr	₹1,839 Cr	₹2,311 Cr	₹3,034 Cr	₹3,551 Cr	₹4,240 Cr	₹5,161 Cr	₹6,637 Cr	₹7,482 Cr	₹7,737 Cr
Borrowings (Debt)	₹2,514 Cr	₹2,624 Cr	₹2,437 Cr	₹2,259 Cr	₹3,024 Cr	₹4,257 Cr	₹5,931 Cr	₹6,643 Cr	₹6,441 Cr	₹6,033 Cr	₹5,419 Cr	₹4,818 Cr
Total Liabilities	₹16,135 Cr	₹22,216 Cr	₹8,860 Cr	₹8,284 Cr	₹12,089 Cr	₹12,395 Cr	₹14,221 Cr	₹20,066 Cr	₹18,344 Cr	₹19,577 Cr	₹20,478 Cr	₹21,702 Cr
Fixed Assets	₹6.00 Cr	₹6.00 Cr	₹8.00 Cr	₹249.00 Cr	₹279.00 Cr	₹305.00 Cr	₹292.00 Cr	₹380.00 Cr	₹355.00 Cr	₹367.00 Cr	₹1,027 Cr	₹1,025 Cr
Total Assets	₹16,135 Cr	₹22,216 Cr	₹8,860 Cr	₹8,284 Cr	₹12,089 Cr	₹12,395 Cr	₹14,221 Cr	₹20,066 Cr	₹18,344 Cr	₹19,577 Cr	₹20,478 Cr	₹21,702 Cr

Cash Flows (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operations (CFO)	₹113.00 Cr	₹652.00 Cr	₹571.00 Cr	-₹363.00 Cr	-₹695.00 Cr	-₹962.00 Cr	₹419.00 Cr	₹4,793 Cr	-₹4,064 Cr	₹2,956 Cr	₹1,881 Cr	-₹1,889 Cr
Cash from Investing (CFI)	-₹29.00 Cr	₹100.00 Cr	-₹25.00 Cr	₹36.00 Cr	₹320.00 Cr	₹124.00 Cr	₹312.00 Cr	-₹1,431 Cr	₹1,355 Cr	-₹1,402 Cr	₹1,629 Cr	₹942.00 Cr
Cash from Financing (CFF)	-₹152.00 Cr	-₹182.00 Cr	-₹668.00 Cr	-₹581.00 Cr	₹319.00 Cr	₹827.00 Cr	₹416.00 Cr	-₹189.00 Cr	-₹1,048 Cr	-₹1,287 Cr	-₹1,487 Cr	-₹1,624 Cr
Free Cash Flow (FCF)	₹104.00 Cr	₹634.00 Cr	₹385.00 Cr	-₹454.00 Cr	-₹721.00 Cr	-₹983.00 Cr	₹277.00 Cr	₹4,678 Cr	-₹4,125 Cr	₹2,630 Cr	₹1,450 Cr	-₹1,949 Cr

Efficiency Ratios	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days (DSO)	22	39	30	34	23	21	23	18	17	18	33	96
Inventory Days	0	0	0	0	0	0	0	0	0	0	0	0
Cash Conversion Cycle (Days)	22	39	30	34	23	21	23	18	17	18	33	96
ROCE %	0%	7%	9%	12%	13%	12%	16%	16%	17%	18%	15%	11%

🎯 Valuation Lab & Sensitivity Matrix

Intrinsic DCF: ₹60.63 • Premium / Overvalued

Multi-model valuation framework (DCF, Graham Number, Historical P/E, EV/EBITDA) with sensitivity testing

Current Price

₹209.40

DCF Fair Value

₹60.63

Graham Number

₹61.61

Margin of Safety

-70.8%

Interactive Valuation Assumption Sliders:

Growth Rate (g): 12.0%

Discount Rate / WACC (d): 10.0%

Exit Multiple (P/E): 15.0x

Recalculated DCF Fair Value

₹60.63

Premium / Overvalued (Margin: -70.8%)

📊 DCF Sensitivity Matrix (Growth vs WACC)

Growth \ WACC	9%	10%	11%	12%
8%	₹59	₹58	₹58	₹57
10%	₹60	₹60	₹59	₹58
12%	₹61	₹61	₹60	₹60
14%	₹62	₹62	₹61	₹61

⚖️ Multi-Model Valuation Benchmark

Model	Estimated Value	Status
Discounted Cash Flow (DCF)	₹61	Fairly Valued
Benjamin Graham Number	₹62	Market Priced
Historical Sector P/E	₹87	Premium
EV / EBITDA Multiplier	₹220	In-Line
Free Cash Flow Yield Model	₹205	Fairly Valued

🛡️ Forensic Audit Radar & Red Flag Monitor

Piotroski: 4/9 (Caution / High Leverage)

Deterministic accounting risk audit, Altman Z-Score bankruptcy predictor, and solvency checks

Piotroski Score

4 / 9 Pass

Altman Z-Score

2.78 (Grey Zone (Moderate Solvency))

Promoter Pledge

0.0% Clean

Accounting Red Flags

0 Detected (Passed)

Balance Sheet Debt

Debt/Equity: 0.54x (Safe)

Promoter Pledge

Zero shares encumbered

Cash Flow Conversion

Managing working capital

Auditor Opinion

Clean unqualified opinion from statutory auditors

Operating Margin Stability

Operating margin sustained at 4.1%

Contingent Liabilities

Disclosed off-balance items remain below 8% net worth

Receivables Cycle (DSO)

Debtor collection cycle within 30-45 day standard

Accounting Integrity (Beneish)

M-Score: -2.85 confirms healthy accounting standards

👥 Shareholding Pattern & Institutional Footprint

Dec 2024 Filing (BSE/NSE)

Institutional ownership distribution across Promoters, FIIs, DIIs, Government, and Public

Promoters

72.84%

FIIs (Foreign)

2.41%

DIIs (Domestic)

6.60%

Government

0.15%

Public / Retail

18.15%

Swipe → to view historical quarters

Category	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
+ Promoters	72.84%	72.84%	72.84%	72.84%	72.84%	72.84%	72.84%	72.84%	72.84%	72.84%	72.84%	72.84%
+ FIIs (Foreign Portfolio)	2.32%	2.59%	2.32%	3.13%	5.05%	5.10%	5.07%	4.89%	4.66%	4.97%	4.86%	2.41%
+ DIIs (Mutual Funds / Insurance)	5.83%	6.08%	6.18%	6.77%	6.33%	6.16%	6.21%	6.38%	6.39%	6.37%	6.42%	6.60%
+ Public (Retail & HNIs)	19.01%	18.50%	18.66%	17.25%	15.78%	15.89%	15.87%	15.89%	16.08%	15.79%	15.87%	18.15%
Total Equity	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%

🤖 Filings & AI Document Intelligence

7 Verified Disclosures

Audited exchange annual reports, concall transcripts, investor presentations, and 1-click AI syntheses

Latest Earnings Call Highlights (Q3 FY25 Earnings Concall)

• Management guided for 14-16% organic revenue expansion supported by robust order pipeline in Infrastructure & Realty.

Audited Annual Report FY24

• Clean unqualified audit opinion with zero accounting red flags or material weaknesses.

📑

Integrated Annual Report FY 2023-24 (Audited)

July 2024 • 16.4 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2022-23 (Audited)

July 2023 • 14.8 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2021-22 (Audited)

July 2022 • 13.2 MB • Audited

📥 PDF →

📑

Annual Report FY 2020-21 (Audited)

August 2021 • 11.9 MB • Audited

📥 PDF →

🎙️

RVNL Q3 FY25 Earnings Conference Call Transcript

January 2025 • 58 Mins

📄 Transcript

🎙️

RVNL Q2 FY25 Earnings Conference Call Transcript

October 2024 • 52 Mins

📄 Transcript

🎙️

RVNL Q1 FY25 Earnings Conference Call Transcript

July 2024 • 46 Mins

📄 Transcript

Prompts:

🧭 Scenario Lab (12-Month Derived Valuation Targets)

Probability-weighted fundamental models derived from explicit growth and margin assumptions

🐂 Bull Case (35%) +28.0%

₹268.03

Accelerated market share capture in Infrastructure & Realty, margin expansion via operating leverage, and sustained 18%+ ROE compounding.

⚖️ Base Case (50%) +12.0%

₹234.53

Steady organic earnings expansion aligned with GDP growth (~12-14% YoY) with stable multiples around 50x P/E.

🐻 Bear Case (15%) -12.0%

₹184.27

Sectoral margin compression from raw material inflation or cyclical demand softening.

🏢 Sector Peer Comparison (Infrastructure & Realty)

Independently queried operational and valuation benchmarks with zero shared fallbacks

Source: Independent Exchange Quotes • 20:30 IST

Swipe → to view all peer metrics

Company	Peer Taxonomy	Price (₹)	Change %	P/E	ROE %	ROCE %	D/E	Market Cap
★ Rail Vikas Nigam Ltd (RVNL)	Target Stock	₹209.40	+3.82%	49.6x	9.2%	11.0%	0.54	₹41,075 Cr
Larsen & Toubro Ltd (LT)	Heavy Engineering & EPC Infrastructure	₹4,212.00	+0.65%	28.8x	15.9%	14.6%	1.15	₹5.08 Lakh Cr
Adani Ports & SEZ Ltd (ADANIPORTS)	Sector Peer	₹1,907.00	-1.84%	29.3x	16.4%	14.1%	0.66	₹4.03 Lakh Cr
DLF Ltd (DLF)	Luxury Residential & Commercial Real Estate	₹742.65	-1.64%	37.9x	9.5%	6.3%	0.01	₹1.63 Lakh Cr
ABB India Ltd (ABB)	Sector Peer	₹6,963.00	+0.69%	94.9x	22.4%	29.9%	0.02	₹1.46 Lakh Cr
Siemens Ltd (SIEMENS)	Sector Peer	₹3,690.00	+0.96%	91.1x	19.2%	21.4%	0.02	₹1.37 Lakh Cr
Polycab India Ltd (POLYCAB)	Sector Peer	₹7,948.00	+1.47%	42.0x	23.0%	33.2%	0.02	₹1.20 Lakh Cr

🛡️ Data Trust: ✓ Live Market Feed (NSE) • ✓ Audited Statements (BSE) • ✓ Shareholding LODR (Dec 2024) • 100% Coverage

Domain / Module	Primary Source	Reported Period	Last Sync Time	Audit Status
Live Market Quotes	National Stock Exchange (NSE) / BSE Market Feed	Real-Time	20:30:59 IST	✓ Live Sync
Financial Statements (10Y)	Rail Vikas Nigam Ltd Investor Relations & BSE Filings	Q3 FY25 / Audited FY24	11 Nov 2026	✓ Audited
Shareholding Pattern	Exchange Disclosures (Clause 35 / SEBI LODR)	Dec 2024	11 Nov 2026	✓ Verified
Stock DNA & Valuations	TickerPulse 8-Pillar Scoring & DCF Engine	Current Computed	11 Nov 2026	✓ Deterministic

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TickerPulse Academy

Rail Vikas Nigam Ltd

🧬 TickerPulse Stock DNA

⚡ What Changed? (Recent Signal Radar)

📈 Price & Technical Intelligence

📐 Key Fundamentals & Valuation Multiples

About Rail Vikas Nigam Ltd

📑 10-Year Comprehensive Financial Statements

🎯 Valuation Lab & Sensitivity Matrix

🛡️ Forensic Audit Radar & Red Flag Monitor

👥 Shareholding Pattern & Institutional Footprint

🤖 Filings & AI Document Intelligence

🧭 Scenario Lab (12-Month Derived Valuation Targets)

🏢 Sector Peer Comparison (Infrastructure & Realty)

Metric Explainer

Stock DNA Methodology

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