On Thursday, July 5, Rail Vikas Nigam Ltd. (RVNL) announced that it had signed a Memorandum of Understanding (MoU) with Delhi Metro Rail Corporation Ltd. (DMRC) to participate in planned projects in India and internationally.
Following this development, RVNL’s shares zoomed to a new 52-week high of ₹455.
RVNL has signed a Memorandum of Understanding (MOU) with Delhi Metro Rail Corporation Limited (DMRC) to participate in upcoming projects in India and abroad as a Project Service Provider for Metro, Railways, High Speed Rail, Highways, MegaBridges, Tunnels, Institutional Buildings/ Workshops or Depots, S&T works, and Railway Electrification, according to an exchange filing.
RVNL’s earnings showed a solid quarter for the railway PSU.
The company recorded a 17.4% revenue gain from previous year to ₹6,714 Crore, while the margin increased by 20 basis points to 6.8% from 6.6% last year.
RVNL’s net profit grew by 33% year on year to ₹478.6 Crore. At the conclusion of fiscal year 2024, the company had a total order book of ₹85,000 Crore. The bid portion amounts to ₹40,000 Crore, while the nomination portion is ₹45,000 Crore.
In fiscal year 2025, the company expects to generate ₹23,000 Crore in sales and have an order book of ₹92,000 Crore to ₹1 lakh Crore. The company expects to receive orders around ₹20,000 Crore to ₹25,000 Crore in fiscal year 2025. In FY 2024, the company had a revenue of ₹21,889 Crore.
RVNL does not have much analyst coverage, with the two most recent recommendations giving the stock a “hold” rating.
At around 10.32 AM, RVNL was trading 7.71% higher at ₹451.05, against the previous close of ₹418.75 on NSE.
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