Rail Vikas Nigam Limited reported a 32.6% decline in standalone net profit to ₹800.48 crore for the financial year ended March 31, 2026, compared to ₹1,188.62 crore in the previous year. Revenue from operations increased marginally to ₹20,012.26 crore from ₹19,869.35 crore in FY25. For the quarter ended March 31, 2026, standalone net profit stood at ₹212.27 crore, while revenue from operations was ₹6,648.40 crore. The Board of Directors, in its meeting held on May 25, 2026, approved the audited standalone and consolidated financial results and recommended a final dividend of ₹0.71 per equity share of face value ₹10 each for FY26, subject to shareholder approval.

FY27 Outlook: BharatNet and Revenue Growth

Rail Vikas Nigam has projected a revenue growth of 15-20% for FY27, with improved margins compared to FY26. The company expects strong revenue and profit margins from the BharatNet project during the year, supported by a healthy order book. While Q1 FY27 may face some challenges, the company remains optimistic about meeting its revenue and margin goals for the full year. The following table outlines the key growth guidance parameters:

Q4 Performance at a Glance

The latest quarterly figures highlight a significant compression in operating profitability. The following table summarises the key Q4 metrics:

While consolidated revenue for Q4 grew to ₹66.96B from ₹64.3B year-on-year, the sharp decline in net profit and EBITDA margin reflects elevated cost pressures during the quarter.

Full-Year Consolidated Results

On a consolidated basis, Rail Vikas Nigam reported a net profit of ₹870.66 crore for FY26, a decrease from ₹1,277.79 crore in the previous year. Consolidated revenue from operations for the year stood at ₹20,412.12 crore. The auditors drew attention to comments issued by the Comptroller & Auditor General of India (C&AG) regarding accounting treatments for replacement obligations and capitalisation of expenditure by certain component companies. The management stated that these treatments were based on technical assessments and opinions from the Expert Advisory Committee of the Institute of Chartered Accountants of India.

Key Balance Sheet Highlights

The company's total standalone assets as of March 31, 2026, stood at ₹20,588.27 crore, with total equity and liabilities also at ₹20,588.27 crore. Cash and cash equivalents decreased significantly to ₹447.76 crore from ₹3,044.80 crore in the previous year.

KRCL Receivable and Audit Emphasis

The financial results include an emphasis of matter regarding a significant receivable from Krishnapatnam Railway Company Limited (KRCL), a joint venture company. The total amount receivable from KRCL as of March 31, 2026, is ₹1,116.26 crore, which includes ₹889.95 crore as interest on delayed payment. The application of interest was changed from compound to simple effective October 1, 2024, while KRCL requested simple interest effective April 1, 2020. The matter is pending with the Board of Directors, and any adjustment will be recognised upon finalisation.

rail vikas nigam has uploaded the audio recording of its conference call with investors, analysts, and institutions held on May 26, 2026. The disclosure was made in furtherance to the company's earlier letter dated May 19, 2026, regarding the schedule of the meeting. The recording is now accessible on the company's official website, providing stakeholders with a detailed review of the financial performance for the quarter and fiscal year ended March 31, 2026.

The conference call was conducted in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The session featured the company's leadership team, including the Chairman & Managing Director Shri Saleem Ahmad, and Directors overseeing Personnel, Operations, Finance, and Projects. The Chief Financial Officer was also present to discuss the financial results and operational updates.

Access Information

Investors can access the audio recording of the conference call directly through the link provided on the company's website. The specific URL for the recording has been shared with the exchanges to ensure wide dissemination of the information discussed during the session.