RVNL share price today

Rail Vikas Nigam Ltd's share price was ₹191.23 at the close on 4 November 2026. It has been falling for 65 weeks. That is 23.1% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹180 and ₹388, and at that close it sat 6% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Rail Vikas Nigam Ltd is in stage 4. The phase helps read everything below.

Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 39 weeks running.

Over the last 7.6 years the share price moved +868% while the NIFTY 500 moved +124%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 27 February 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Two changes stood out: foreign funds (FIIs) cut their stake for 3 quarters in a row and revenue up on a year earlier for 4 quarters in a row.

1. Foreign funds (FIIs) cut their stake for 3 quarters in a row

   From 5% to 2.4% of the company by the September 2026 quarter.

2. Revenue up on a year earlier for 4 quarters in a row

   In the June 2026 quarter revenue was ₹4,321 crore, +10.5% on a year earlier.

   Why: Revenue rose because more work got done, including rural broadband projects where early ground problems eased.

   Next results: check whether work in UP West and UP East moves ahead and whether BSNL payments turn into revenue.

   From the earnings call on 13 Aug 2026.

RVNL paid ₹1.71 a share in regular dividends in the 12 months to 5 November 2026 (2 payments), a yield of 0.89% at the ₹191.23 close on 4 November 2026. The last was a dividend of ₹0.71 a share, ex-date 18 August 2026.

RVNL dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date.

Yes. Rail Vikas Nigam Ltd paid out 41% of its profit as dividends in FY26, and it paid a dividend in each of its last 12 reported years.

From the NSE corporate-actions record, read 5 November 2026.

For April to June 2026 (the quarter ended 30 June 2026), RVNL reported revenue of ₹4,321 crore, up 10.5% from ₹3,909 crore a year earlier, and a profit of ₹160 crore, up 19.4% from ₹134 crore.

RVNL results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

RVNL's management discussed these results on a call held on 13 August 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

RVNL closed at ₹191.23 on 4 November 2026, down 39.9% from ₹318.00 a year earlier (7 November 2025) and up 426.1% over five years. Its highest weekly close since April 2019 was ₹626.75 on 12 July 2024.

RVNL share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

399 weekly closes from 12 April 2019 to 4 November 2026.

4 Nov 2026: RVNL closed at ₹191.23, up 6.4% on the week and down 2.9% on the month. 18 Aug 2026: ex-date for a dividend of ₹0.71 a share.

Earlier

• 13 Aug 2026: RVNL held its results call for April to June 2026. Management guided: FY27 top-line growth around 15% and bottom-line growth 15-20%.
• Results for April to June 2026: Revenue up 10.5% and profit up 19.4% on a year earlier.
• 11 Feb 2026: ex-date for an interim dividend of ₹1 a share.

On the call for April to June 2026, held on 13 August 2026, RVNL's management guided: FY27 top-line growth around 15% and bottom-line growth 15-20%.

“As weather conditions improve over the coming months, our priority will be to pick up execution speed, maintain margin discipline, and convert our healthy pipeline of L1 positions and LOAs into active projects.”Salim Ahmed, on the call for April to June 2026

What management guided

• FY27 work-order goal ₹20,000-25,000 crore, with ₹5,500 crore entrusted in Q1.
• Over the next 3 years, order book and top line planned at a 50:50 split between railway management works and bidding works.
• Margin framework: Indian bidding 5-6%, management works 8-10%, PMC about 7%, overseas 15-20%; three-year operating profit 5-7% and ROE 12-13%, with no further onerous provision anticipated.
• BharatNet implementation needs another 6-8 months beyond its 3-year phase; 10-year maintenance follows. No external debt planned for 2-3 quarters; bank lines at 5.5-5.9% if needed.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 13 August 2026.

When RVNL reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Annual revenue and margin trajectory - check whether execution sustains the reaffirmed growth framework and profitability improvement.

RVNL is on 2 of our India lists: 52 week high & low and Small & mid cap stocks.

Rail Vikas Nigam Ltd earned ₹160 Cr of net profit in the Jun 2026 quarter, +19.4% on the same quarter a year earlier. Full-year FY26 profit was ₹871 Cr. Over 10 years profit has grown 7.3% a year on average. That is 3.7% of the quarter's revenue. The same quarter a year earlier earned ₹134 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

For the full year, FY26 profit was ₹871 Cr (−31.8% on the year before).

Why profit moved: revenue changed +10.5% on a year earlier and the margin moved +2.9 percentage points. Most of the change came from keeping more of each sale.

On average over the last four quarters, profit changed −14.1% and revenue +5.7%. Profit is growing slower than sales: rising costs are taking part of the growth.

Rail Vikas Nigam Ltd reported ₹4,321 Cr of revenue in the Jun 2026 quarter, +10.5% on the same quarter a year earlier. That is the 4th quarter in a row with growth on the year before. Over 10 years it has grown 16.2% a year on average. The last full year, FY26, came in at ₹20,412 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹20,824 Cr.

FY26 revenue was ₹20,412 Cr, +2.5% on the year before.

Recent pace: the last four quarters grew +5.7% on average, against 16.2% a year over the longer run, so this year is growing slower than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +5.4%, against +1.1% a year over the last 8 quarters (accelerating); profit over the last 12 months grew −24.5%, against −21.5% a year (stabilising).

Rail Vikas Nigam Ltd's operating margin was 4.3% in the Jun 2026 quarter, 2.9 percentage points higher than the same quarter a year ago. Across 12 years it has been between 3.8% and 6.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed +2.9 percentage points on the year while gross margin changed −1.5 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales.

Over the last 3 years, 80% of Rail Vikas Nigam Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 its operations used ₹1,889 Cr of cash, against ₹871 Cr of profit.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

After ₹34.0 Cr of spending on assets, free cash was −₹1,923 Cr: it spent more than its operations brought in.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 80% of profit came in as cash: the cash cycle got 73 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives.

What to look at next: the bigger use of cash is spending on new assets, at 8.6× depreciation over three years. The next section checks what that spending is building.

Rail Vikas Nigam Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 96 days in FY26, up from 23 days in FY21. It spent ₹757 Cr on assets over the last 3 years.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹20,412 Cr, each day of that cycle ties up about ₹55.9 Cr, so roughly ₹5,369 Cr is tied up in the business at any time.

Spending on assets: ₹757 Cr over the last 3 years, against ₹88.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹0.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Rail Vikas Nigam Ltd's P/E is 44.2×, in the middle of its own history: higher than 67% of past readings. Its usual P/E (the middle reading) is 10.6×, over 7.5 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

Why the multiple is where it is: over the past year earnings per share moved −31.5% while the price moved −39.9%. Earnings did better than the price, which pulled the multiple down within its own range.

Where the price move came from: over 5 years the price moved +39.4% a year; about −3.6% a year came from earnings growth and about +43.0 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple.

In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple.

Rail Vikas Nigam Ltd's business is getting worse. Profit and EPS growth are shrinking: profit growth is −24.5% in the latest quarter, against +15.6% at its best in 12 quarters, with ROCE falling at 11.1%. This is based on 12 quarters of 4 measures.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: falling lines mean any ratio below that looks low should be read with that direction in mind.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

Rail Vikas Nigam Ltd earned a ROCE of 11% in FY26. That is up from a low of 7% in FY16. Its return on capital used (ROIC) is 7.5 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses.

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

It comes from a 4.3% net margin and 0.94× asset turnover (sales divided by assets).

Why the return is what it is (FY26): a 4.3% net margin × 0.94× asset turnover × 2.21× leverage (assets divided by equity) ≈ 8.9% on equity. The margin does its share; borrowing is a big part of it.

The key test, return on capital used minus the cost of capital: 4.5% − 12.0% = −7.5 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve.

Rail Vikas Nigam Ltd has total debt of ₹4,818 Cr against shareholder equity of ₹9,818 Cr as of Jun 2026, so its debt is 0.49× its equity. Year by year, that ratio went from 1.05 in FY22 to 0.49 in FY26. Keep that borrowing in mind when reading the returns on this page.

Debt-to-equity shows how much of the business is paid for with borrowed money. Lower is safer, and the direction matters as much as the level.

Foreign institutions cut their stake in Rail Vikas Nigam Ltd by 2.7 percentage points over 8 quarters, the biggest change among its owners. Foreign institutions now own 2.4% of the company. Domestic institutions moved −0.1 points over the same period, to 6.2%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

Over the last two years: Foreign institutions: −2.7 points over 8 quarters, to 2.4%; Domestic institutions: −0.1 points over 8 quarters, to 6.2%; Promoters: +0.0 points over 8 quarters, to 72.8%.

Why the owners changed: foreign institutions drove it (−2.7 points). They reduced their stake.