Rail Vikas Nigam Ltd. emerged as the lowest bidder for a project worth Rs 137.16 crore from the Central Railway.
The project includes the designing, supplying, installing, testing, and commissioning of traction substations, sectioning posts, and sub-sectioning posts between the Bhusaval and Khandwa sections of Central Railway, according to an exchange filing on Monday. The project aims to achieve a 3000 metric tonne loading target and will be completed on an engineering, procurement, and construction basis.
The project is expected to be completed within a timeframe of 24 months.
On Dec. 16, RVNL received a letter of acceptance from the Maharashtra Metro Rail Corp. for a Rs 270-crore order. This comes almost two months after the construction division of the Ministry of Railways informed the stock exchanges that it had won the project from the Maharashtra Metro Authority.
The project includes the construction of elevated metro stations at several locations in Nagpur, such as Hingna Mount View, Rajiv Nagar, Wanadongri, APMC, Raipur, Hingna Bus Station, and Hingna.
RVNL Q2 Performance
RVNL reported a net profit of Rs 286.9 crore, representing a 27% fall for the second quarter of the current fiscal 2025 as compared to Rs 394.4 crore for the same period last year.
The rail infrastructure developer recorded a 1.2% dip in its revenue to Rs 4,854.95 crore for the July-September quarter of the fiscal 2025 as against Rs 4,914.3 crore for the one-year-ago period.
The company's earnings before interest, tax, depreciation, and amortisation slipped by 9% to Rs 271.5 crore for the three months ended Sept. 30, 2024, in contrast to Rs 298.3 crore for the same quarter of the previous financial year.
Its margin narrowed by 50 basis points to 5.6% for the second quarter as compared to 6.1% for the same period last year.
Shares of RVNL closed 4.05% lower at 408.30 per share on the National Stock Exchange. In contrast, the benchmark Nifty fell by 0.71%. The stock has risen 124.34% in the last 12 months and 124.9% on a year-to-date basis.
Out of the three analysts monitoring the company, one has a 'buy' rating on the stock, one maintains 'hold,' and one recommends a 'sell' rating on the stock, according to Bloomberg data. The average of 12-month analysts' price targets suggests a potential downside of 38.5%.
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