Rail Vikas Nigam Limited (RVNL) has received a Letter of Acceptance from East Coast Railway for setting up a wagon Periodical Overhauling (POH) workshop with a capacity of 200 wagons at Kantabanji in Odisha. The project, valued at ₹201.23 crores excluding GST, involves constructing a dedicated facility for periodic overhauling of wagons with an 18-month completion timeline.

Project Specifications

The contract focuses on establishing a comprehensive wagon maintenance facility to enhance railway operational efficiency and safety in freight movement. Rail Vikas Nigam Limited was awarded the project as the sole bidder, demonstrating the company's specialized expertise in railway infrastructure development.

Regulatory Compliance

The company has disclosed this development under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure confirms that this work falls within the normal course of business for Rail Vikas Nigam Limited. The contract is classified as a domestic project with no related party transactions involved, and neither the promoter nor the promoter group has any interest in the entity awarding the contract.

Business Impact and Market Performance

This Letter of Acceptance strengthens RVNL's order book and reinforces its position in the railway maintenance infrastructure sector. The wagon POH workshop will enhance railway maintenance capabilities in the East Coast Railway zone, supporting improved operational efficiency of the railway network. As a Government of India enterprise, RVNL specializes in project implementation for rail infrastructure, including construction of new lines, doubling, gauge conversion and electrification works.

Shares of Rail Vikas Nigam Limited closed at ₹342.55, down 4.16% for the day, reflecting market movements despite the positive project announcement.

Rail Vikas Nigam Limited has announced a change in its board composition with the cessation of Shri Prem Sagar Gupta as Part-time Official Director effective January 5, 2026. The company informed both NSE and BSE about this directorate change in compliance with SEBI regulations.

Director Cessation Details

The cessation of Shri Prem Sagar Gupta from his position as Part-time Official Director is attributed to his transfer from the Railway Board. According to the company's disclosure, Gupta held the position of Principal Executive Director/CE(P) at Railway Board before his cessation from RVNL's board.

Regulatory Compliance

Rail Vikas Nigam Limited has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided comprehensive details as per SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. Company Secretary & Compliance Officer Kalpana Dubey signed the regulatory filing on January 5, 2026.

Updated Board Composition

Following Gupta's cessation, RVNL's board now comprises seven directors. The updated leadership structure maintains a balanced mix of executive and independent directors to oversee the company's operations.

Transfer Orders

The Ministry of Railways issued transfer orders dated December 2, 2025, directing Shri Prem Sagar Gupta's posting to Northern Railway as Principal Chief Engineer. The order, approved by the President, facilitates his transfer from Railway Board to the zonal railway, replacing Shri B B S Tomar. This administrative change necessitated his cessation from RVNL's board as he could no longer serve in his capacity as Principal Executive Director/CE(P) at Railway Board.

The directorate change reflects the standard administrative procedures within government enterprises when officials are transferred between different railway organizations and positions.