Rail Vikas Nigam has initiated the closure of its wholly owned subsidiary, RVNL Infra South Africa, marking a strategic consolidation of its international operations. The decision was taken by the Board of Directors during a meeting held on July 25, 2026. Alongside this structural change, the company secured continuity in its compliance framework by extending its internal audit engagement and appointing a new cost auditor for the upcoming fiscal year.

The Board meeting commenced at 11:00 A.M. and concluded at 12:20 P.M. The approvals were made pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015. The company disclosed the outcomes to the National Stock Exchange of India Ltd. and BSE Ltd., referencing SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/II/3762/2026 dated January 30, 2026.

Subsidiary Closure

The most significant operational move was the approval for the closure of RVNL Infra South Africa. As a wholly owned subsidiary located in South Africa, its winding down suggests a reassessment of the company’s footprint in that region. No specific financial details regarding the subsidiary’s assets or liabilities were disclosed in the filing.

Audit Appointments

To ensure regulatory compliance for the next fiscal period, the Board addressed two key audit appointments:

• Internal Auditor: The contract of M/s. Ravi Rajan & Co. LLP, Chartered Accountants, was extended for another six months. This extension covers the period up to September 30, 2026.
• Cost Auditor: M/s. R.M. Bansal & Co., Cost Accountants, was appointed as the Cost Auditor for the financial year 2026-27. The appointment was effective from July 25, 2026.

Cost Auditor Profile

M/s. R.M. Bansal & Co. brings extensive experience to the role. The firm has twelve partners and maintains professional offices across Kanpur, Lucknow, New Delhi, Mumbai, Bangalore, Chennai, Kolkata, Hyderabad, Thiruvananthapuram, Bhubaneswar, Dehradun, and Bilaspur.

The firm possesses fifty years of experience, comprising thirty-four years as a practicing firm of Cost Accountants since July 12, 1990, and seventeen years of individual practice from 1974 to 1990. They have previously conducted cost audits for various Maharatna and Miniratna public sector undertakings under Central and State Governments. The filing disclosed no relationships between the auditor and the company’s directors.

Rail Vikas Nigam has emerged as the lowest bidder (L1) for a project valued at ₹358.97 crore from East Central Railway. The Engineering, Procurement and Construction (EPC) contract encompasses doubling work along the Sitamarhi-Raxaul section in the Samastipur Division, strengthening the company's infrastructure portfolio.

Project Scope and Execution

The project involves construction activities over a stretch of 41.04 km, extending from Kundawa Chainpur (excl.) to Raxaul (excl.). The scope includes earth work, blanketing, minor and major bridges, station buildings, platform work, level crossing (LC) work, and other miscellaneous works designed for 25T Indian Railway Standard Loading.

Contract Details

The key parameters of the order are summarised below:

The order, awarded by a domestic entity, falls within the normal course of business for the company. There are no related party transactions involved in the award.