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

RITES Limited and Crisil Limited signed a Memorandum of Understanding (MoU) on May 27, 2026, to combine their capabilities in transport infrastructure and data intelligence to offer integrated, data-driven solutions. The partnership aims to leverage RITES' engineering consultancy experience with Crisil's strengths in analytics, research, and market insights to enhance infrastructure project delivery.

The collaboration will focus on providing analytical and advisory support for infrastructure projects. Key areas of cooperation include market intelligence, data validation, financial due diligence, valuation support, and the development of analytical models for consultancy assignments undertaken by RITES.

Under the agreement, the organisations will jointly explore consultancy assignments and infrastructure opportunities across a diverse range of sectors. The scope of work covers railways, metro rail, highways, expressways, airports, ports, ropeways, bridges, tunnels, and urban transport. Additionally, the partnership extends to energy, water resources, hydropower, wastewater management, and industrial infrastructure projects.

The MoU facilitates operations both in India and abroad. RITES Limited, a Navratna Public Sector Enterprise, brings 52 years of experience and a presence in over 55 countries across Asia, Africa, Latin America, South America, and the Middle East. Crisil Limited contributes its global expertise in ratings, data, and advisory solutions.