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Rail Vikas Nigam: IDBI Capital Downgrades The Stock To 'Sell' After Q3 Results — Here's Why
Following the results, the brokerage has revised its rating from Hold to Sell and arriving at target price of Rs 325, factoring in the weak 9MFY25 performance.
20 Feb 2025, 03:13 PM IST 
RVNL's revenue decreased by3% YoY to Rs 45 billion and Ebitda in Q3 FY25 was Rs 2.4 billion down by 4% YoY, Ebitda margin at 5.2%.
(Source: RVNL website)
RVNL has guided for flat revenue at Rs 220 billion for FY25 and expects Ebitda margins in the range of 5.5-6%. The order book stands at Rs 970 billion, which is four times trailing twelve months revenue, with the share of competitive bid projects increasing to 45%+. RVNL has bid for multiple international orders and anticipates securing new projects from the international market.
