Integrated Filing — IndAS

General information about company
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-Apr-2024
Date of end of financial year	31-Mar-2025
Date of board meeting when results were approved	21-May-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange	06-May-2025
Description of presentation currency	INR (in Actuals)
Reporting Type	Quarterly
Reporting Quarter	Fourth quarter
Nature of report standalone or consolidated	Consolidated
Whether results are audited or unaudited for the quarter ended	Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended	Audited
Segment Reporting	Single segment
Description of single segment	Development of Rail Infrastructure
Start date and time of board meeting	21-May-2025   12:30:00
End date and time of board meeting	21-May-2025   17:30:00
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	Declaration of unmodified opinion

Financial Results Ind-AS
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-Jan-2025	01-Apr-2024
B	Date of end of reporting period	31-Mar-2025	31-Mar-2025
C	Whether results are audited or unaudited	Audited	Audited
D	Nature of report standalone or consolidated	Consolidated	Consolidated
Part I	Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1	Income
	Revenue from operations	64268800000	199230200000
	Other income	1870200000	9997800000
	Total income	66139000000	209228000000
2	Expenses
(a)	Cost of materials consumed	58932900000	184063100000
(b)	Purchases of stock-in-trade	0	0
(c)	Changes in inventories of finished goods, work-in-progress and stock-in-trade	0	0
(d)	Employee benefit expense	447500000	1877300000
(e)	Finance costs	1169800000	5395200000
(f)	Depreciation, depletion and amortisation expense	90000000	307400000
(f)	Other Expenses
1	Other Expenses	560600000	2038800000
	Total other expenses	560600000	2038800000
	Total expenses	61200800000	193681800000
3	Total profit before exceptional items and tax	4938200000	15546200000
4	Exceptional items	0	0
5	Total profit before tax	4938200000	15546200000
6	Tax expense
7	Current tax	1222700000	4024400000
8	Deferred tax	-351900000	-339300000
9	Total tax expenses	870800000	3685100000
10	Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement	0	0
11	Net Profit Loss for the period from continuing operations	4067400000	11861100000
12	Profit (loss) from discontinued operations before tax	0	0
13	Tax expense of discontinued operations	0	0
14	Net profit (loss) from discontinued operation after tax	0	0
15	Share of profit (loss) of associates and joint ventures accounted for using equity method	523800000	954100000
16	Total profit (loss) for period	4591200000	12815200000
17	Other comprehensive income net of taxes	80100000	77500000
18	Total Comprehensive Income for the period	4671300000	12892700000
19	Total profit or loss, attributable to
	Profit or loss, attributable to owners of parent	4591500000	12813900000
	Total profit or loss, attributable to non-controlling interests	-300000	-300000
20	Total Comprehensive income for the period attributable to
	Comprehensive income for the period attributable to owners of parent	4671600000	12891400000
	Total comprehensive income for the period attributable to owners of parent non-controlling interests	-300000	1300000
21	Details of equity share capital
	Paid-up equity share capital	20850200000	20850200000
	Face value of equity share capital	10	10
27	Details of debt securities
22	Reserves excluding revaluation reserve		74856900000
23	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings (loss) per share from continuing operations	2.2	6.15
	Diluted earnings (loss) per share from continuing operations	2.2	6.15
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	2.2	6.15
	Diluted earnings (loss) per share from continuing and discontinued operations	2.2	6.15
24	Debt equity ratio
25	Debt service coverage ratio
26	Interest service coverage ratio
27	Disclosure of notes on financial results		1. The above Audited Consolidated Financial Results were reviewed and recommended by the Audit Committee and approved by the Board of Directors at their respective meetings held on 21st May 2025. n n2. 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. n n3. The Consolidated Statement of Assets and Liabilities as at 31st March 2025 and Consolidated Statement of Cash Flows for the year ended 31st March 2025 have been disclosed along with audited financial results as per Regulation 33 of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, as amended. n n4. The Holding 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 Company is incurring project expenditures on a regular basis and the total amount receivable from KRCL as on 31st March, 2025 is Rs.1355.72 crore which includes Rs. 889.95 crore on account of Interest on 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.The matter is pending with the Board of Directors of the Holding Company and adjustment if any will be recognized as and when the matter is finalized. n n5. In view of the representation made by KRCL for waiver of departmental charges and pending decision by the Board of Directors of the Holding Company, the claim for departmental charges @ 5% of the completion cost of the project has not been raised on KRCL by the Holding Company. The matter is pending with the Board of Directors of the Holding Company and adjustment if any will be recognized as and when the matter is finalized. n n6. The consolidated results for the financial year 2023–24 have been restated to account for differences between the provisional and audited financial statements of joint ventures, associates, and subsidiaries. The audited financials were received after the finalization of the Company's financial statements for FY 2023–24. This restatement has also resulted in a decrease in retained earnings by Rs. 24.75 crore. Furthermore, one of the subsidiary, namely Masakani Paradeep Road Vikas Limited (MPRVL), has further restated its audited balances of FY 2023-24 which resulted in increase of retained earnings by Rs. 0.89 crore. n n7.Balances of some of the Trade Receivables, Other Assets, Trade and Other Payable accounts are subject to confirmation/reconciliation from the respective parties. The management does not expect to have any material differences affecting the financial statements for the year ended 31st March, 2025. n n n8. Figures for the quarter ended 31st March 2025 are the balancing figures between audited figures in respect of the full financial year ended 31st March 2025 and the published year to date figures up to the third quarter of the current financial year. n n9. The Company hereby declares that the Auditors have issued Audit Report for Consolidated Financial Results with unmodified opinion for the financial year ended 31st March 2025. n n10. The Consolidated Financial Statements for the financial year ended 31st March 2025 are subject to review by the Comptroller and Auditor General of India u/s 143 (6) of the Companies Act, 2013. n n11. The Board of Directors of the Holding Company in its meeting held on 21st May 2025 recommended the final dividend of Rs 1.72 per equity share having face value of Rs. 10 each for FY 2024-25, subject to approval by the members of the Company. n n12. Previous period figures have been regrouped/ reclassified, wherever necessary to confirm to the figures of the current period.

Remarks
Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio

Statement of Asset and Liabilities
Particulars		Year ended (dd-mm-yyyy)
Date of start of reporting period		01-Apr-2024
Date of end of reporting period		31-Mar-2025
Whether results are audited or unaudited		Audited
Nature of report standalone or consolidated		Consolidated
	Assets
1	Non-current assets
	Property, plant and equipment	5374500000
	Capital work-in-progress	3200000
	Investment property	1401400000
	Goodwill	0
	Other intangible assets	3494500000
	Intangible assets under development	0
	Biological assets other than bearer plants	0
	Investments accounted for using equity method	25363800000
	Non-current financial assets
	Non-current investments	230000000
	Trade receivables, non-current	0
	Loans, non-current	47200000
	Other non-current financial assets	51763200000
	Total non-current financial assets	52040400000
	Deferred tax assets (net)	454700000
	Other non-current assets	11300000
	Total non-current assets	88143800000
2	Current assets
	Inventories	0
	Current financial asset
	Current investments	0
	Trade receivables, current	14855800000
	Cash and cash equivalents	31274600000
	Bank balance other than cash and cash equivalents	7587700000
	Loans, current	23000000
	Other current financial assets	30943800000
	Total current financial assets	84684900000
	Current tax assets (net)	584900000
	Other current assets	31403400000
	Total current assets	116673200000
3	Non-current assets classified as held for sale	0
4	Regulatory deferral account debit balances and related deferred tax Assets	0
	Total assets	204817000000
	Equity and liabilities
1	Equity
	Equity attributable to owners of parent
	Equity share capital	20850200000
	Other equity	74856900000
	Total equity attributable to owners of parent	95707100000
	Non controlling interest	3000000
	Total equity	95710100000
2	Liabilities
	Non-current liabilities
	Non-current financial liabilities
	Borrowings, non-current	48895100000
	Trade payables, non-current
	(A) Total outstanding dues of micro enterprises and small enterprises	0
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	0
	Total Trade payable	0
	Other non-current financial liabilities	3398600000
	Total non-current financial liabilities	52293700000
	Provisions, non-current	291100000
	Deferred tax liabilities (net)	0
	Deferred government grants, Non-current	0
	Other non-current liabilities	0
	Total non-current liabilities	52584800000
	Current liabilities
	Current financial liabilities
	Borrowings, current	4995000000
	Trade payables, current
	(A) Total outstanding dues of micro enterprises and small enterprises	88900000
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	3706900000
	Total Trade payable	3795800000
	Other current financial liabilities	22471800000
	Total current financial liabilities	31262600000
	Other current liabilities	24250600000
	Provisions, current	1008900000
	Current tax liabilities (Net)
	Deferred government grants, Current
	Total current liabilities	56522100000
3	Liabilities directly associated with assets in disposal group classified as held for sale	0
4	Regulatory deferral account credit balances and related deferred tax liability	0
	Total liabilities	109106900000
	Total equity and liabilites	204817000000
	Disclosure of notes on assets and liabilities

Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
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-Jan-2025	01-Apr-2024
Date of end of reporting period		31-Mar-2025	31-Mar-2025
Whether accounts are audited or unaudited		Audited	Audited
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

Other Comprehensive Income
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-Jan-2025	01-Apr-2024
B	Date of end of reporting period	31-Mar-2025	31-Mar-2025
C	Whether results are audited or unaudited	Audited	Audited
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 that will not be reclassified to profit & loss	107400000	103900000
2	Share of other comprehensive income/ (expense) of joint venture/Associate accounted for using the equity method (net of tax)	-200000	-200000
	Total Amount of items that will not be reclassified to profit and loss	107200000	103700000
2	Income tax relating to items that will not be reclassified to profit or loss	27100000	26200000
3	Amount of items that will be reclassified to profit and loss
	Total Amount of items that will be reclassified to profit and loss
4	Income tax relating to items that will be reclassified to profit or loss
5	Total Other comprehensive income	80100000	77500000

Cash flow statement, indirect
Particulars				Year ended (dd-mm-yyyy)
A	Date of start of reporting period			2024-04-01
B	Date of end of reporting period			2025-03-31
C	Whether results are audited or unaudited			Audited
D	Nature of report standalone or consolidated			Consolidated
Part I	Blue color marked fields are non-mandatory.
	Statement of cash flows
	Cash flows from used in operating activities
	Profit before tax			15546200000
	Adjustments for reconcile profit (loss)
	Adjustments for finance costs			4578200000
	Adjustments for decrease (increase) in inventories			0
	Adjustments for decrease (increase) in trade receivables, current			-4190400000
	Adjustments for decrease (increase) in trade receivables, non-current			0
	Adjustments for decrease (increase) in other current assets			-221800000
	Adjustments for decrease (increase) in other non-current assets			2985800000
	Adjustments for other financial assets, non-current			13369400000
	Adjustments for other financial assets, current			-5938600000
	Adjustments for other bank balances			0
	Adjustments for increase (decrease) in trade payables, current			1405500000
	Adjustments for increase (decrease) in trade payables, non-current			0
	Adjustments for increase (decrease) in other current liabilities			1082800000
	Adjustments for increase (decrease) in other non-current liabilities			0
	Adjustments for depreciation and amortisation expense			472200000
	Adjustments for impairment loss reversal of impairment loss recognised in profit or loss			0
	Adjustments for provisions, current			97100000
	Adjustments for provisions, non-current			134500000
	Adjustments for other financial liabilities, current			2843500000
	Adjustments for other financial liabilities, non-current			0
	Adjustments for unrealised foreign exchange losses gains			6800000
	Adjustments for dividend income			0
	Adjustments for interest income			8799100000
	Adjustments for share-based payments			0
	Adjustments for fair value losses (gains)			53900000
	Adjustments for undistributed profits of associates			0
	Other adjustments for which cash effects are investing or financing cash flow			0
	Other adjustments to reconcile profit (loss)			100000
	Other adjustments for non-cash items			6200000
	Share of profit and loss from partnership firm or association of persons or limited liability partnerships			0
	Total adjustments for reconcile profit (loss)			7886100000
	Net cash flows from (used in) operations			23432300000
	Dividends received			0
	Interest paid			0
	Interest received			0
	Income taxes paid (refund)			4650400000
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) operating activities			18781900000
	Cash flows from used in investing activities
	Cash flows from losing control of subsidiaries or other businesses			0
	Cash flows used in obtaining control of subsidiaries or other businesses			0
	Other cash receipts from sales of equity or debt instruments of other entities			0
	Other cash payments to acquire equity or debt instruments of other entities			0
	Other cash receipts from sales of interests in joint ventures			0
	Other cash payments to acquire interests in joint ventures			0
	Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships			0
	Cash payment for investment in partnership firm or association of persons or limited liability partnerships			733400000
	Proceeds from sales of property, plant and equipment			3800000
	Purchase of property, plant and equipment			4317500000
	Proceeds from sales of investment property			0
	Purchase of investment property			0
	Proceeds from sales of intangible assets			0
	Purchase of intangible assets			0
	Proceeds from sales of intangible assets under development			0
	Purchase of intangible assets under development			0
	Proceeds from sales of goodwill			0
	Purchase of goodwill			0
	Proceeds from biological assets other than bearer plants			0
	Purchase of biological assets other than bearer plants			0
	Proceeds from government grants			0
	Proceeds from sales of other long-term assets			0
	Purchase of other long-term assets			0
	Cash advances and loans made to other parties			0
	Cash receipts from repayment of advances and loans made to other parties			0
	Cash payments for future contracts, forward contracts, option contracts and swap contracts			0
	Cash receipts from future contracts, forward contracts, option contracts and swap contracts			0
	Dividends received			0
	Interest received			8842600000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			12498500000
	Net cash flows from (used in) investing activities	16294000000
	Cash flows from used in financing activities
	Proceeds from changes in ownership interests in subsidiaries			0
	Payments from changes in ownership interests in subsidiaries			0
	Proceeds from issuing shares			0
	Proceeds from issuing other equity instruments			0
	Payments to acquire or redeem entity's shares			0
	Payments of other equity instruments			0
	Proceeds from exercise of stock options			0
	Proceeds from issuing debentures notes bonds etc			0
	Proceeds from borrowings			0
	Repayments of borrowings			4720000000
	Payments of lease liabilities			220400000
	Dividends paid			4399400000
	Interest paid			5501900000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) financing activities			-14841700000
	Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes			20234200000
	Effect of exchange rate changes on cash and cash equivalents
	Effect of exchange rate changes on cash and cash equivalents			-100000
	Net increase (decrease) in cash and cash equivalents			20234100000
	Cash and cash equivalents cash flow statement at beginning of period			11040500000
	Cash and cash equivalents cash flow statement at end of period			31274600000