BSE: 542649 | NSE: RVNL | Engineering - Construction | Mid Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Rail Vikas Nigam Ltd is a average quality company.
The key valuation ratios of Rail Vikas Nigam Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Rail Vikas Nigam Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 2.7% | 2.9% | 3.9% | 13.3% | 14% | 12.2% | 15.7% | 16.3% | 17.3% | 18.5% | - |
| Value Creation Index ⓘ | -0.8 | -0.8 | -0.7 | 0.2 | -0 | -0.1 | 0.2 | 0.2 | 0.3 | 0.6 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 3,448 | 4,736 | 5,920 | 7,597 | 10,069 | 14,531 | 15,404 | 19,382 | 20,282 | 21,889 | 20,332 |
| Sales YoY Gr. | - | 37.4% | 25% | 28.3% | 32.5% | 44.3% | 6% | 25.8% | 4.6% | 7.9% | - |
| Adj EPS ⓘ | 1.6 | 2 | 2.1 | 2.7 | 3.3 | 3.6 | 4.8 | 5.3 | 6.4 | 7.6 | 6.5 |
| YoY Gr. | - | 26.5% | 7.1% | 29.1% | 20.3% | 11.4% | 31.1% | 11.8% | 21.1% | 17.2% | - |
| BVPS (₹) ⓘ | 14.5 | 15.8 | 17.1 | 18.8 | 21.1 | 24.6 | 27 | 30.3 | 34.8 | 42 | 42.2 |
| Adj Net Profit ⓘ | 323 | 408 | 439 | 565 | 679 | 757 | 992 | 1,110 | 1,342 | 1,574 | 1,347 |
| Cash Flow from Ops. ⓘ | -2,295 | -3,466 | 278 | -363 | -695 | -962 | 419 | 4,793 | -4,064 | 2,954 | - |
| Debt/CF from Ops. ⓘ | -5.3 | -5.1 | 8.8 | -6.2 | -4.7 | -4.7 | 14.1 | 1.4 | -1.6 | 2 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 22.8% | 16.8% | 12.4% | 7.9% | ||||
| Adj EPS ⓘ | 19.2% | 18.3% | 16.6% | 17.2% | ||||
| BVPSⓘ | 12.6% | 14.8% | 15.8% | 20.7% | ||||
| Share Price | - | 77.5% | 127% | 152.7% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 10.7 | 12.9 | 12.8 | 15.1 | 16.3 | 15.9 | 18.4 | 18.6 | 19.8 | 19.7 | 15.4 |
| Op. Profit Mgn % ⓘ | 9.3 | 7.8 | 4.6 | 5 | 5.3 | 5.4 | 5.7 | 6.1 | 6.2 | 6.2 | 5.7 |
| Net Profit Mgn % ⓘ | 9.4 | 8.6 | 6.5 | 7.4 | 6.7 | 5.2 | 6.4 | 5.7 | 6.6 | 7.2 | 6.6 |
| Debt to Equity ⓘ | 4 | 5.3 | 0.7 | 0.6 | 0.8 | 0.9 | 1.1 | 1.1 | 0.9 | 0.7 | 0.6 |
| Working Cap Days ⓘ | 0 | 1,245 | 717 | 250 | 268 | 238 | 235 | 203 | 233 | 239 | 87 |
| Cash Conv. Cycle ⓘ | 0 | 1,036 | 496 | 38 | 20 | 7 | 10 | 14 | 10 | 10 | 41 |
Sales growth is growing at healthy rate in last 3 years 12.43%
Net Profit is growing at healthy rate in last 3 years 16.62%
Debt to equity has declined versus last 3 years average to 0.69
Return on Equity has declined versus last 3 years average to 15.40%
Sales growth is not so good in last 4 quarters at -4.29%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 6.1 | 6.5 |
| TTM Sales (₹ Cr.) | 20,310 | 20,332 |
| BVPS (₹.) ⓘ | 38.1 | 42.2 |
| Reserves (₹ Cr.) ⓘ | 5,862 | 6,707 |
| P/BV ⓘ | 11.33 | 10.24 |
| PE ⓘ | 70.37 | 66.80 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 162.10 / 647.00 |
| All Time Low / High (₹) | 10.20 / 647.00 |
| Market Cap (₹ Cr.) | 90,042 |
| Equity (₹ Cr.) | 2,085 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 35.9 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,448 | 4,736 | 5,920 | 7,597 | 10,069 | 14,531 | 15,404 | 19,382 | 20,282 | 21,889 |
| Operating Expenses ⓘ | 3,129 | 4,367 | 5,645 | 7,215 | 9,538 | 13,744 | 14,524 | 18,199 | 19,035 | 20,536 |
| Manufacturing Costs | 3,027 | 4,232 | 5,477 | 7,026 | 9,311 | 13,419 | 14,232 | 17,906 | 18,725 | 20,187 |
| Material Costs | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Employee Cost | 69 | 89 | 117 | 135 | 156 | 186 | 204 | 200 | 186 | 184 |
| Other Costs ⓘ | 32 | 46 | 51 | 54 | 71 | 139 | 88 | 93 | 125 | 165 |
| Operating Profit ⓘ | 319 | 368 | 274 | 382 | 531 | 786 | 880 | 1,183 | 1,246 | 1,353 |
| Operating Profit Margin (%) | 9.3% | 7.8% | 4.6% | 5.0% | 5.3% | 5.4% | 5.7% | 6.1% | 6.1% | 6.2% |
| Other Income ⓘ | 120 | 183 | 248 | 325 | 334 | 305 | 739 | 800 | 996 | 1,186 |
| Interest ⓘ | 10 | 9 | 35 | 145 | 131 | 100 | 458 | 564 | 581 | 568 |
| Depreciation ⓘ | 38 | 38 | 5 | 5 | 6 | 20 | 23 | 21 | 22 | 21 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 6 | 12 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 392 | 504 | 482 | 664 | 839 | 958 | 1,207 | 1,430 | 1,719 | 2,054 |
| Tax ⓘ | 69 | 96 | 100 | 95 | 152 | 201 | 215 | 319 | 378 | 479 |
| Profit After Tax | 323 | 408 | 382 | 570 | 688 | 757 | 992 | 1,110 | 1,342 | 1,574 |
| PAT Margin (%) | 9.4% | 8.6% | 6.4% | 7.5% | 6.8% | 5.2% | 6.4% | 5.7% | 6.6% | 7.2% |
| Adjusted EPS (₹) | 1.6 | 2.0 | 2.1 | 2.7 | 3.3 | 3.6 | 4.8 | 5.3 | 6.4 | 7.6 |
| Dividend Payout Ratio (%) | 12% | 28% | 59% | 27% | 27% | 31% | 33% | 34% | 33% | 28% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 3,017 | 3,288 | 3,563 | 3,924 | 4,396 | 5,119 | 5,636 | 6,325 | 7,246 | 8,746 |
| Share Capital ⓘ | 2,085 | 2,085 | 2,085 | 2,085 | 2,085 | 2,085 | 2,085 | 2,085 | 2,085 | 2,085 |
| Reserves ⓘ | 932 | 1,203 | 1,478 | 1,839 | 2,311 | 3,034 | 3,551 | 4,240 | 5,161 | 6,661 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 12,057 | 17,545 | 2,437 | 2,259 | 3,024 | 4,257 | 5,902 | 6,595 | 6,408 | 5,988 |
| Long Term Debt | 2,186 | 2,320 | 2,437 | 2,259 | 3,024 | 4,257 | 5,672 | 6,315 | 6,031 | 5,516 |
| Short Term Debt | 9,871 | 15,224 | 0 | 0 | 0 | 0 | 230 | 280 | 377 | 472 |
| Trade Payables | 50 | 106 | 110 | 68 | 168 | 699 | 272 | 223 | 621 | 250 |
| Others Liabilities ⓘ | 1,479 | 1,878 | 2,715 | 2,073 | 4,577 | 2,446 | 2,566 | 7,209 | 4,438 | 5,092 |
| Total Liabilities ⓘ | 16,603 | 22,817 | 8,825 | 8,325 | 12,165 | 12,521 | 14,376 | 20,353 | 18,713 | 20,076 |
Fixed Assets | ||||||||||
| Gross Block | 542 | 554 | 40 | 285 | 321 | 384 | 407 | 504 | 520 | 565 |
| Accumulated Depreciation | 167 | 203 | 32 | 36 | 42 | 79 | 115 | 125 | 166 | 198 |
| Net Fixed Assetsⓘ | 375 | 350 | 8 | 249 | 279 | 305 | 292 | 380 | 355 | 367 |
| CWIP ⓘ | 298 | 489 | 13 | 21 | 11 | 25 | 53 | 1 | 1 | 94 |
| Investmentsⓘ | 0 | 10 | 1,094 | 1,231 | 1,586 | 1,588 | 1,730 | 1,810 | 1,904 | 2,405 |
| Inventories | 11,567 | 14,828 | 766 | 2 | 4 | 9 | 23 | 50 | 59 | 65 |
| Trade Receivables | 213 | 439 | 279 | 713 | 638 | 835 | 980 | 938 | 969 | 1,077 |
| Cash Equivalents | 1,869 | 3,722 | 2,705 | 1,403 | 944 | 982 | 2,047 | 6,824 | 1,853 | 3,113 |
| Others Assetsⓘ | 2,280 | 2,979 | 3,960 | 4,706 | 8,701 | 8,777 | 9,250 | 10,351 | 13,571 | 12,955 |
| Total Assets ⓘ | 16,603 | 22,817 | 8,825 | 8,325 | 12,165 | 12,521 | 14,376 | 20,353 | 18,713 | 20,076 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -2,295 | -3,466 | 278 | -363 | -695 | -962 | 419 | 4,793 | -4,064 | 2,954 |
| PBT ⓘ | 392 | 504 | 539 | 664 | 839 | 971 | 1,138 | 1,430 | 1,719 | 2,054 |
| Adjustment ⓘ | -81 | -140 | -259 | -273 | -296 | -119 | -239 | 303 | -442 | -677 |
| Changes in Working Capital ⓘ | -2537 | -3734 | 107 | -645 | -1081 | -1667 | -329 | 3361 | -4953 | 2037 |
| Tax Paid ⓘ | -69 | -96 | -108 | -109 | -158 | -146 | -151 | -299 | -388 | -460 |
| Cash Flow From Investing Activity ⓘ | 149 | -33 | 20 | 36 | 320 | 124 | 312 | -1,431 | 1,355 | -1,399 |
| Capex | -55 | -203 | -177 | -91 | -26 | -21 | -41 | -14 | -10 | -102 |
| Net Investments | 85 | -10 | -10 | -44 | -270 | 3 | 0 | -59 | -14 | -396 |
| Others ⓘ | 119 | 180 | 207 | 171 | 616 | 142 | 353 | -1,359 | 1,379 | -901 |
| Cash Flow From Financing Activityⓘ | 2,396 | 5,352 | -421 | -581 | 319 | 827 | 416 | -189 | -1,048 | -1,287 |
| Net Proceeds from Shares ⓘ | 0 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -48 | 134 | 37 | 93 | 1,046 | 1,408 | 1,430 | 700 | -280 | -377 |
| Interest Paid ⓘ | 0 | 0 | -214 | -254 | -268 | -272 | -245 | -217 | -312 | -446 |
| Dividend Paid ⓘ | -43 | -139 | -309 | -201 | -181 | -23 | -475 | -421 | -433 | -444 |
| Others ⓘ | 2,487 | 5,353 | 65 | -219 | -278 | -286 | -294 | -251 | -23 | -20 |
| Net Cash Flow ⓘ | 250 | 1,853 | -123 | -908 | -56 | -11 | 1,148 | 3,173 | -3,757 | 269 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 10.7 | 12.93 | 11.14 | 15.21 | 16.53 | 15.9 | 18.44 | 18.56 | 19.77 | 19.69 |
| ROCE (%) | 2.67 | 2.86 | 3.85 | 13.28 | 13.99 | 12.19 | 15.69 | 16.27 | 17.29 | 18.45 |
| Asset Turnover Ratio | 0.21 | 0.24 | 0.37 | 0.89 | 0.98 | 1.18 | 1.15 | 1.12 | 1.04 | 1.13 |
| PAT to CFO Conversion(x) | -7.11 | -8.5 | 0.73 | -0.64 | -1.01 | -1.27 | 0.42 | 4.32 | -3.03 | 1.88 | Working Capital Days |
| Receivable Days | 23 | 25 | 22 | 24 | 24 | 19 | 22 | 18 | 17 | 17 |
| Inventory Days | 1,225 | 1,017 | 481 | 18 | 0 | 0 | 0 | 1 | 1 | 1 |
| Payable Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
To bridge the infrastructure deficit on Indian Railways, the then Prime Minister, Bharat Ratna Shri Atal Bihari Vajpayee announced National Rail Vikas Yojana (NRVY) on August 15, 2002 in his address from the Red Fort. NRVY was formally launched by Hon’ble PM on December 26, 2002. To implement NRVY, Rail Vikas Nigam Ltd (RVNL) was incorporated as an 100% owned PSU of Ministry of Railways (MoR) on January 01, 2003 with the twin objectives of raising extra-budgetary resources and implementation of projects relating to creation and augmentation of capacity of rail infrastructure on fast track basis. RVNL became fully functional by March 2005.
RVNL functions as an extended arm of the Ministry of Railways working for & on behalf of MoR. It is empowered to act as an Umbrella SPV to undertake project development, resource mobilization etc. directly or by creating project specific SPVs or by any other financing structure found suitable. RVNL’s mandate includes mobilization of extra budgetary resources through a mix of equity, and debt from banks, financial institutions, multilateral agencies like Asian Development Bank and bilateral agencies for project execution through PPP by formation of project specific SPVs for Port and Hinterland connectivity. RVNL can enter into and carry on business relating to creation and augmentation of capacity of rail infrastructure on fast track.
In August 2004, it was decided that the issue of raising funds from the market to meet capital expenditure required for execution of projects by RVNL will be entrusted to IRFC. Accordingly, the focus of raising EBR for projects by RVNL has been on creation of project specific SPVs which are mentioned below.
Business area of the company
Rail Vikas Nigam is in the business of executing all types of railway projects including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable stayed bridges, institution buildings etc. It generally works on a turnkey basis and undertake the full cycle of project development from conceptualization to commissioning including stages of design, preparation of estimates, calling and award of contracts, project and contract management, etc. and all stages of project execution upto the stage of commissioning of the new railway lines.
Awards and Recognition
Major Events & Milestones
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
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The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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