RITES Limited has appointed Shri Atul Singh as a part-time Government Nominee Director on its Board, effective from the date of allotment of DIN. The appointment follows a communication from the Ministry of Railways, letter no. 2022/PL/57/10 dated May 27, 2026, confirming the approval of the President of India. Shri Atul Singh will serve on the Board until he holds the post of Principal Executive Director (Production Units/ Workshops & Innovation), Railway Board, or until further orders, whichever is earlier.

The company confirmed that Shri Atul Singh is not debarred from holding the office of director by virtue of any SEBI order or any other authority. This confirmation was provided in compliance with BSE Circular no. LIST/COMP/14/2018-19 and NSE Circular no. NSE/CML/2018/02, both dated June 20, 2018. RITES is currently taking necessary steps to complete the statutory requirements related to the appointment.

Profile of the Appointee

Shri Atul Singh is presently serving as Principal Executive Director (Production Units/ Workshops & Innovation) at the Railway Board. He holds a Bachelor's degree in Mechanical Engineering and belongs to the Indian Railways Service of Mechanical Engineers (IRSME) of the 1991 batch. He brings over 30 years of experience working with the Indian Railways, including a stint on central deputation in the Ministry of Commerce from 2012 to 2017.

Key Disclosures

The disclosure was made pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

RITES Limited has reported its highest-ever order book of INR 9,416 crore as of March 31, 2026, positioning the company for substantial disruptive growth in FY27. The management disclosed this during a post-results conference call held on May 20, 2026, to discuss the audited financial results for the quarter and year ended March 31, 2026. The disclosure was made by Company Secretary & Compliance Officer Nikhil Agarwal in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance Highlights

The company reported a double-digit growth in profit for FY26, maintaining margins while achieving significant milestones. A key achievement was the execution of export income amounting to INR 300 crore, marking a breakthrough after a gap of nearly two years. The order inflow rate remained steady at one order per day and one export order per quarter. Despite high execution in Q4 of about INR 750+ crore, the company closed the fiscal year with a robust order book.

Order Book and Future Guidance

The order book of INR 9,416 crore is characterized by a young profile, with more than 50% of the orders being 12 to 18 months old. This young order book is expected to drive revenue generation in FY27. Management has provided guidance for substantial disruptive growth in the coming financial year, aiming to break all-time high revenue records. However, profits may take longer to break previous records due to the increasing mix of lower-margin competitive and turnkey orders. The company remains committed to maintaining a red line of 15% PAT margins and 20% EBITDA margins.

Business Segment Updates

The export order book stands at an all-time high of INR 1,700+ crore. Execution of the Mozambique order, involving 10 locomotives, was completed during the year. The Bangladesh order for 200 coaches is on track, with the first rake of 20 coaches expected to be dispatched in two months. Additionally, the company is converting in-service diesel locomotives to Cape Gauge for export to African countries, with prototypes ready for dispatch.

In the consultancy segment, the Quality Assurance (QA) vertical saw a revival with a 16% increase, returning to FY24 revenue levels. The non-Indian Railway element now constitutes roughly 60% of QA revenue, aiding diversification. The turnkey segment, while currently showing lower margins due to the competitive nature of orders, is expected to contribute significantly to revenue as projects enter their second and third years of execution.

Operational Outlook

Management emphasized that while revenue is targeted to reach all-time highs in FY27, the blend of revenue will shift towards lower-margin competitive orders, which constitute 63% of the order book and 70%+ of fresh inflows. The subsidiary, REMC Ltd, contributed INR 163 crore in revenue and INR 90 crore in profit, and is expanding into renewable energy and international consultancy orders.

Conference Call Details