| Scrip Code | 542649 |
|---|---|
| NSE Symbol | RVNL |
| MSEI Symbol | NOTLISTED |
| ISIN | INE415G01027 |
| Name of company | RAIL VIKAS NIGAM LIMITED |
| Type of company | Main Board |
| Class of security | Equity |
| Date of start of financial year | 01-04-2025 |
| Date of end of financial year | 31-03-2026 |
| Date of board meeting when results were approved | 11-11-2025 |
| Date on which prior intimation of the meeting for considering financial results was informed to the exchange | 28-10-2025 |
| Description of presentation currency | INR |
| Level of rounding used in financial results | Lakhs |
| Reporting Type | Quarterly |
| Reporting Quarter | Second quarter |
| Nature of report standalone or consolidated | Consolidated |
| Whether results are audited or unaudited for the quarter ended | Unaudited |
| Whether results are audited or unaudited for the Year to date for current period ended/year ended | Unaudited |
| Segment Reporting | Single segment |
| Description of single segment | Development of Rail Infrastructure |
| Start date and time of board meeting | 11-11-2025 16:30:00 |
| End date and time of board meeting | 11-11-2025 19:05:00 |
| Whether cash flow statement is applicable on company | Yes |
| Type of cash flow statement | Cash Flow Indirect |
| Declaration of unmodified opinion or statement on impact of audit qualification | Not applicable |
| Particulars | 3 months/ 6 months ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |
|---|---|---|---|
| A | Date of start of reporting period | 01-07-2025 | 01-04-2025 |
| B | Date of end of reporting period | 30-09-2025 | 30-09-2025 |
| C | Whether results are audited or unaudited | Unaudited | Unaudited |
| D | Nature of report standalone or consolidated | Consolidated | Consolidated |
| 1 | Income | ||
| Revenue from operations | 5,12,298.00 | 9,03,175.00 | |
| Other income | 21,038.00 | 43,857.00 | |
| Total income | 5,33,336.00 | 9,47,032.00 | |
| 2 | Expenses | ||
| (a) | Cost of materials consumed | 4,76,702.00 | 8,46,262.00 |
| (b) | Purchases of stock-in-trade | 0.00 | 0.00 |
| (c) | Changes in inventories of finished goods, work-in-progress and stock-in-trade | 0.00 | 0.00 |
| (d) | Employee benefit expense | 5,260.00 | 10,265.00 |
| (e) | Finance costs | 10,001.00 | 20,818.00 |
| (f) | Depreciation, depletion and amortisation expense | 892.00 | 1,778.00 |
| (f) | Other Expenses | ||
| 1 | Other Expenses | 8,645.00 | 19,669.00 |
| Total other expenses | 8,645.00 | 19,669.00 | |
| Total expenses | 5,01,500.00 | 8,98,792.00 | |
| 3 | Total profit before exceptional items and tax | 31,836.00 | 48,240.00 |
| 4 | Exceptional items | 0.00 | 0.00 |
| 5 | Total profit before tax | 31,836.00 | 48,240.00 |
| 6 | Tax expense | ||
| 7 | Current tax | 8,181.00 | 12,650.00 |
| 8 | Deferred tax | 3,006.00 | 2,442.00 |
| 9 | Total tax expenses | 11,187.00 | 15,092.00 |
| 10 | Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement | 0.00 | 0.00 |
| 11 | Net Profit Loss for the period from continuing operations | 20,649.00 | 33,148.00 |
| 12 | Profit (loss) from discontinued operations before tax | 0.00 | 0.00 |
| 13 | Tax expense of discontinued operations | 0.00 | 0.00 |
| 14 | Net profit (loss) from discontinued operation after tax | 0.00 | 0.00 |
| 15 | Share of profit (loss) of associates and joint ventures accounted for using equity method | 2,403.00 | 3,340.00 |
| 16 | Total profit (loss) for period | 23,052.00 | 36,488.00 |
| 17 | Other comprehensive income net of taxes | (1,427.00) | (1,483.00) |
| 18 | Total Comprehensive Income for the period | 21,625.00 | 35,005.00 |
| 19 | Total profit or loss, attributable to | ||
| Profit or loss, attributable to owners of parent | 23,029.00 | 36,482.00 | |
| Total profit or loss, attributable to non-controlling interests | 23.00 | 6.00 | |
| 20 | Total Comprehensive income for the period attributable to | ||
| Comprehensive income for the period attributable to owners of parent | 21,602.00 | 34,999.00 | |
| Total comprehensive income for the period attributable to owners of parent non-controlling interests | 23.00 | 6.00 | |
| 21 | Details of equity share capital | ||
| Paid-up equity share capital | 2,08,502.00 | 2,08,502.00 | |
| Face value of equity share capital | 10 | 10 | |
| 27 | Details of debt securities | ||
| 22 | Reserves excluding revaluation reserve | ||
| 23 | Earnings per share | ||
| i | Earnings per equity share for continuing operations | ||
| Basic earnings (loss) per share from continuing operations | 1.1 | 1.75 | |
| Diluted earnings (loss) per share from continuing operations | 1.1 | 1.75 | |
| ii | Earnings per equity share for discontinued operations | ||
| Basic earnings (loss) per share from discontinued operations | 0 | 0 | |
| Diluted earnings (loss) per share from discontinued operations | 0 | 0 | |
| ii | Earnings per equity share | ||
| Basic earnings (loss) per share from continuing and discontinued operations | 1.1 | 1.75 | |
| Diluted earnings (loss) per share from continuing and discontinued operations | 1.1 | 1.75 | |
| 24 | Debt equity ratio | ||
| 25 | Debt service coverage ratio | ||
| 26 | Interest service coverage ratio | ||
| 27 | Disclosure of notes on financial results | Textual Information(1) | |
| Textual Information(1) | 1. The above Unaudited Consolidated Financial Results were reviewed and recommended by the Audit Committee and approved by the Board of Directors at their respective their meetings held on 11th November 2025. 2. The Consolidated Financial Results have been reviewed by the Statutory Auditors as required under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. 3. The Consolidated financial results have been prepared in accordance with the Indian Accounting Standards (Ind AS) as notified under Section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standards) Amendment Rules, 2016 and other recognized accounting practices and policies to the extent applicable. 4. The Parent Company usually receives advance payment from Joint Venture Companies for incurring expenditure on their projects. However, in the case of one joint venture company i.e. Krishnapatnam Railway Company Limited (KRCL), the Parent Company had incurred project expenditure and the total amount receivable from KRCL as on 30th September 2025 is Rs. 1190.73 crore (up to 30.09.2024 Rs 1462.86 crore) which includes Rs. 889.95 crore cummulative interest based on compounding method (up to 30.09.2024 Rs,889.65 crore) on account of delayed payment. The application of interest has been changed from compound to simple w.e.f. 1st October 2024, whereas KRCL requested for application of simple interest w.e.f. 01.04.2020 in lieu of compounding interest. The matter is pending with the Board of Directors of the Parent Company and adjustment if any will be recognized as and when the matter is finalized. 5. In view of the representation made by KRCL for waiver of departmental charges and pending decision by the Board of Directors of the Parent Company, the claim for departmental charges @ 5% of the completion cost of the project has not been raised on KRCL by the Company. The matter is pending with the Board of Directors of the Company and adjustment if any will be recognized as and when the matter is finalized. 6. The consolidated financial results for the year ended March 31, 2025 included unaudited financial statements of certain subsidiaries and joint ventures, which were consolidated based on management-certified accounts due to non-availability of audited financials at that time. Subsequent to audit of the consolidated financial statement of March 31, 2025 the statutory auditors of few companies have issued audit reports containing qualifications relating to provisions on resurfacing cost and determination of quantum thereof and booking of revenue and certain expenses on provisional basis on advise of western railway and some other qualification without any quantification. The qualification will be reviewed with the concerned SPVs, an appropriate action may be taken accoringly. The matter is being reviewed with the concerned SPVs for their appropriate redressal. 7. The Comptroller and Auditor General of India (CAG), under Section 143(6)(a) of the Companies Act, 2013, has issued comments on the financial statements of one of joint venture included in the consolidated financial results highlighting the requirement of provisioning of expenses on resurfacing cost included CTR etc. and, while for some others joint ventures on the same matter a management letter has been issued without any comments on the financial statement on the assurance given by the respective company for taking an opinion from EAC of ICAI and necessary action will be taken as per the opinion of EAC of ICAI on the financial statement of financial year 2025-26. The matter is being reviewed by the management with the concerned SPVs for their appropriate action to be taken in Financial Year 2025-26. 8. The consolidated results for the financial year 2024-25 has been restated, showing net decrease in profits to the extent of Rs. 3.73 crores, being the difference between the provisional and Audited financials of Joint Ventures, Associates and Subsidiaries as Audited financials are recived after the finalization of the financial statement of the Company for the financial year 2024-25, and corresponding impact in respectives assets and liabilities. 9. The Group and Associates & Joint Ventures operates in a single reportable operating segment Development of Rail Infrastructure as per Ind AS 108 - Operating Segments. 10. In terms of Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is hereby notified that Rail Vikas Nigam Limited (RVNL) has established a New wholly-owned subsidiary, named Sabbavaram Sheelanagar Road Development Limited, in the state of Andhra Pradesh, with an issued share capital of 1000 shares at Rs.100 each, totalling Rs.100,000 on 15.05.2025. 11. Previous period figures have been regrouped/ reclassified, wherever necessary to confirm to the figures of the current period. |
|---|
| Debt equity ratio | |
|---|---|
| Debt service coverage ratio | |
| Interest service coverage ratio |
| Particulars | Year ended (dd-mm-yyyy) | |
|---|---|---|
| Date of start of reporting period | 01-04-2025 | |
| Date of end of reporting period | 30-09-2025 | |
| Whether results are audited or unaudited | Unaudited | |
| Nature of report standalone or consolidated | Consolidated | |
| Assets | ||
| 1 | Non-current assets | |
| Property, plant and equipment | 52,776.00 | |
| Capital work-in-progress | 472.00 | |
| Investment property | 13,903.00 | |
| Goodwill | 0.00 | |
| Other intangible assets | 33,579.00 | |
| Intangible assets under development | 0.00 | |
| Biological assets other than bearer plants | 0.00 | |
| Investments accounted for using equity method | 2,61,692.00 | |
| Non-current financial assets | ||
| Non-current investments | 2,300.00 | |
| Trade receivables, non-current | 0.00 | |
| Loans, non-current | 492.00 | |
| Other non-current financial assets | 4,56,416.00 | |
| Total non-current financial assets | 4,59,208.00 | |
| Deferred tax assets (net) | 2,142.00 | |
| Other non-current assets | 164.00 | |
| Total non-current assets | 8,23,936.00 | |
| 2 | Current assets | |
| Inventories | 0.00 | |
| Current financial asset | ||
| Current investments | 0.00 | |
| Trade receivables, current | 1,52,912.00 | |
| Cash and cash equivalents | 1,10,961.00 | |
| Bank balance other than cash and cash equivalents | 77,855.00 | |
| Loans, current | 238.00 | |
| Other current financial assets | 4,32,601.00 | |
| Total current financial assets | 7,74,567.00 | |
| Current tax assets (net) | 14,194.00 | |
| Other current assets | 3,62,359.00 | |
| Total current assets | 11,51,120.00 | |
| 3 | Non-current assets classified as held for sale | |
| 4 | Regulatory deferral account debit balances and related deferred tax Assets | |
| Total assets | 19,75,056.00 | |
| Equity and liabilities | ||
| 1 | Equity | |
| Equity attributable to owners of parent | ||
| Equity share capital | 2,08,502.00 | |
| Other equity | 7,47,297.00 | |
| Total equity attributable to owners of parent | 9,55,799.00 | |
| Non controlling interest | 36.00 | |
| Total equity | 9,55,835.00 | |
| 2 | Liabilities | |
| Non-current liabilities | ||
| Non-current financial liabilities | ||
| Borrowings, non-current | 4,32,102.00 | |
| Trade payables, non-current | ||
| (A) Total outstanding dues of micro enterprises and small enterprises | 0.00 | |
| (B) Total outstanding dues of creditors other than micro enterprises and small enterprises | 0.00 | |
| Total Trade payable | 0.00 | |
| Other non-current financial liabilities | 34,175.00 | |
| Total non-current financial liabilities | 4,66,277.00 | |
| Provisions, non-current | 8,092.00 | |
| Deferred tax liabilities (net) | 0.00 | |
| Deferred government grants, Non-current | 0.00 | |
| Other non-current liabilities | 645.00 | |
| Total non-current liabilities | 4,75,014.00 | |
| Current liabilities | ||
| Current financial liabilities | ||
| Borrowings, current | 63,806.00 | |
| Trade payables, current | ||
| (A) Total outstanding dues of micro enterprises and small enterprises | 2,312.00 | |
| (B) Total outstanding dues of creditors other than micro enterprises and small enterprises | 32,399.00 | |
| Total Trade payable | 34,711.00 | |
| Other current financial liabilities | 2,17,135.00 | |
| Total current financial liabilities | 3,15,652.00 | |
| Other current liabilities | 2,19,249.00 | |
| Provisions, current | 9,306.00 | |
| Current tax liabilities (Net) | 0.00 | |
| Deferred government grants, Current | ||
| Total current liabilities | 5,44,207.00 | |
| 3 | Liabilities directly associated with assets in disposal group classified as held for sale | |
| 4 | Regulatory deferral account credit balances and related deferred tax liability | |
| Total liabilities | 10,19,221.00 | |
| Total equity and liabilites | 19,75,056.00 | |
| Disclosure of notes on assets and liabilities | ||
| Particulars | 3 months/ 6 month ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |||||
|---|---|---|---|---|---|---|---|
| Date of start of reporting period | 01-07-2025 | 01-04-2025 | |||||
| Date of end of reporting period | 30-09-2025 | 30-09-2025 | |||||
| Whether results are audited or unaudited | Unaudited | Unaudited | |||||
| Nature of report standalone or consolidated | Consolidated | Consolidated | |||||
| 1 | Segment Revenue (Income) | ||||||
| (net sale/income from each segment should be disclosed) | |||||||
| Total Segment Revenue | |||||||
| Less: Inter segment revenue | |||||||
| Revenue from operations | |||||||
| 2 | Segment Result | ||||||
| Profit (+) / Loss (-) before tax and interest from each segment | |||||||
| Total Profit before tax | |||||||
| i. Finance cost | |||||||
| ii. Other Unallocable Expenditure net off Unallocable income | |||||||
| Profit before tax | |||||||
| 3 | (Segment Asset - Segment Liabilities) | ||||||
| Segment Asset | |||||||
| Total Segment Asset | |||||||
| Un-allocable Assets | null | null | |||||
| Net Segment Asset | null | null | |||||
| 4 | Segment Liabilities | ||||||
| Segment Liabilities | |||||||
| Total Segment Liabilities | |||||||
| Un-allocable Liabilities | null | null | |||||
| Net Segment Liabilities | null | null | |||||
| Disclosure of notes on segments | |||||||
| Particulars | 3 months/ 6 months ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |
|---|---|---|---|
| A | Date of start of reporting period | 01-07-2025 | 01-04-2025 |
| B | Date of end of reporting period | 30-09-2025 | 30-09-2025 |
| C | Whether results are audited or unaudited | Unaudited | Unaudited |
| D | Nature of report standalone or consolidated | Consolidated | Consolidated |
| Other comprehensive income [Abstract] | |||
| 1 | Amount of items that will not be reclassified to profit and loss | ||
| 1 | Items not to be reclassified to Profit or Loss in subsequent periods | -7000000 | -14400000 |
| Total Amount of items that will not be reclassified to profit and loss | (70.00) | (144.00) | |
| 2 | Income tax relating to items that will not be reclassified to profit or loss | (18.00) | (36.00) |
| 3 | Amount of items that will be reclassified to profit and loss | ||
| 1 | Net gain/ (loss) on Foreign currency Tralation | -137500000 | -137500000 |
| Total Amount of items that will be reclassified to profit and loss | (1,375.00) | (1,375.00) | |
| 4 | Income tax relating to items that will be reclassified to profit or loss | 0.00 | 0.00 |
| 5 | Total Other comprehensive income | (1,427.00) | (1,483.00) |
| Particulars | Year ended (dd-mm-yyyy) | |||||
|---|---|---|---|---|---|---|
| A | Date of start of reporting period | 01-04-2025 | ||||
| B | Date of end of reporting period | 30-09-2025 | ||||
| C | Whether results are audited or unaudited | Unaudited | ||||
| D | Nature of report standalone or consolidated | Consolidated | ||||
| Statement of cash flows | ||||||
| Cash flows from used in operating activities | ||||||
| Profit before tax | 48,240.00 | |||||
| Adjustments for reconcile profit (loss) | ||||||
| Adjustments for finance costs | 20,497.00 | |||||
| Adjustments for decrease (increase) in inventories | 0.00 | |||||
| Adjustments for decrease (increase) in trade receivables, current | (4,368.00) | |||||
| Adjustments for decrease (increase) in trade receivables, non-current | 0.00 | |||||
| Adjustments for decrease (increase) in other current assets | (46,483.00) | |||||
| Adjustments for decrease (increase) in other non-current assets | (32.00) | |||||
| Adjustments for other financial assets, non-current | 62,795.00 | |||||
| Adjustments for other financial assets, current | (1,56,797.00) | |||||
| Adjustments for other bank balances | 0.00 | |||||
| Adjustments for increase (decrease) in trade payables, current | (3,267.00) | |||||
| Adjustments for increase (decrease) in trade payables, non-current | 0.00 | |||||
| Adjustments for increase (decrease) in other current liabilities | (34,722.00) | |||||
| Adjustments for increase (decrease) in other non-current liabilities | 0.00 | |||||
| Adjustments for depreciation and amortisation expense | 2,606.00 | |||||
| Adjustments for impairment loss reversal of impairment loss recognised in profit or loss | 0.00 | |||||
| Adjustments for provisions, current | 5,174.00 | |||||
| Adjustments for provisions, non-current | 0.00 | |||||
| Adjustments for other financial liabilities, current | 41,707.00 | |||||
| Adjustments for other financial liabilities, non-current | (2,250.00) | |||||
| Adjustments for unrealised foreign exchange losses gains | (602.00) | |||||
| Adjustments for dividend income | 0.00 | |||||
| Adjustments for interest income | 37,329.00 | |||||
| Adjustments for share-based payments | 0.00 | |||||
| Adjustments for fair value losses (gains) | 129.00 | |||||
| Adjustments for undistributed profits of associates | 0.00 | |||||
| Other adjustments for which cash effects are investing or financing cash flow | 0.00 | |||||
| Other adjustments to reconcile profit (loss) | 0.00 | |||||
| Other adjustments for non-cash items | 26.00 | |||||
| Share of profit and loss from partnership firm or association of persons or limited liability partnerships | 0.00 | |||||
| Total adjustments for reconcile profit (loss) | (1,52,916.00) | |||||
| Net cash flows from (used in) operations | (1,04,676.00) | |||||
| Dividends received | 0.00 | |||||
| Interest paid | 0.00 | |||||
| Interest received | 0.00 | |||||
| Income taxes paid (refund) | 20,807.00 | |||||
| Other inflows (outflows) of cash | 0.00 | |||||
| Net cash flows from (used in) operating activities | (1,25,483.00) | |||||
| Cash flows from used in investing activities | ||||||
| Cash flows from losing control of subsidiaries or other businesses | 0.00 | |||||
| Cash flows used in obtaining control of subsidiaries or other businesses | 0.00 | |||||
| Other cash receipts from sales of equity or debt instruments of other entities | 0.00 | |||||
| Other cash payments to acquire equity or debt instruments of other entities | 0.00 | |||||
| Other cash receipts from sales of interests in joint ventures | 0.00 | |||||
| Other cash payments to acquire interests in joint ventures | 0.00 | |||||
| Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships | 0.00 | |||||
| Cash payment for investment in partnership firm or association of persons or limited liability partnerships | 5,138.00 | |||||
| Proceeds from sales of property, plant and equipment | 121.00 | |||||
| Purchase of property, plant and equipment | 643.00 | |||||
| Proceeds from sales of investment property | 0.00 | |||||
| Purchase of investment property | 0.00 | |||||
| Proceeds from sales of intangible assets | 0.00 | |||||
| Purchase of intangible assets | 0.00 | |||||
| Proceeds from sales of intangible assets under development | 0.00 | |||||
| Purchase of intangible assets under development | 0.00 | |||||
| Proceeds from sales of goodwill | 0.00 | |||||
| Purchase of goodwill | 0.00 | |||||
| Proceeds from biological assets other than bearer plants | 0.00 | |||||
| Purchase of biological assets other than bearer plants | 0.00 | |||||
| Proceeds from government grants | 0.00 | |||||
| Proceeds from sales of other long-term assets | 0.00 | |||||
| Purchase of other long-term assets | 0.00 | |||||
| Cash advances and loans made to other parties | 0.00 | |||||
| Cash receipts from repayment of advances and loans made to other parties | 0.00 | |||||
| Cash payments for future contracts, forward contracts, option contracts and swap contracts | 0.00 | |||||
| Cash receipts from future contracts, forward contracts, option contracts and swap contracts | 0.00 | |||||
| Dividends received | 0.00 | |||||
| Interest received | 69,972.00 | |||||
| Income taxes paid (refund) | 0.00 | |||||
| Other inflows (outflows) of cash | (3,288.00) | |||||
| Net cash flows from (used in) investing activities | 61,024.00 | |||||
| Cash flows from used in financing activities | ||||||
| Proceeds from changes in ownership interests in subsidiaries | 0.00 | |||||
| Payments from changes in ownership interests in subsidiaries | 0.00 | |||||
| Proceeds from issuing shares | 0.00 | |||||
| Proceeds from issuing other equity instruments | 0.00 | |||||
| Payments to acquire or redeem entity's shares | 0.00 | |||||
| Payments of other equity instruments | 0.00 | |||||
| Proceeds from exercise of stock options | 0.00 | |||||
| Proceeds from issuing debentures notes bonds etc | 0.00 | |||||
| Proceeds from borrowings | 0.00 | |||||
| Repayments of borrowings | 42,991.00 | |||||
| Payments of lease liabilities | 1,096.00 | |||||
| Dividends paid | 35,368.00 | |||||
| Interest paid | 57,015.00 | |||||
| Income taxes paid (refund) | 0.00 | |||||
| Other inflows (outflows) of cash | 0.00 | |||||
| Net cash flows from (used in) financing activities | (1,36,470.00) | |||||
| Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes | (2,00,929.00) | |||||
| Effect of exchange rate changes on cash and cash equivalents | ||||||
| Effect of exchange rate changes on cash and cash equivalents | (857.00) | |||||
| Net increase (decrease) in cash and cash equivalents | (2,01,786.00) | |||||
| Cash and cash equivalents cash flow statement at beginning of period | 3,12,747.00 | |||||
| Cash and cash equivalents cash flow statement at end of period | 1,10,961.00 | |||||