RVNLNSEAugust 12, 2025

Rail Vikas Nigam Limited

3,406words
70turns
3analyst exchanges
4executives
Management on call
Pradeep Gaur
CHAIRMAN AND MANAGING DIRECTOR, RAIL VIKAS NIGAM LIMITED
M. P. Singh
DIRECTOR OPERATIONS, RAIL VIKAS NIGAM LIMITED
Chandan Kumar Verma
CHIEF FINANCIAL OFFICER, RAIL VIKAS NIGAM LIMITED
Vishal Periwal
ANTIQUE STOCK BROKING
Key numbers — 31 extracted
Rs. 1,000 crore
gineering and electrical engineering. The total orders won in this quarter is roughly of value of Rs. 1,000 crores and total contracts which are now organized, one stands at around 96 contracts. The residual val
Rs. 60,500 crore
s. The residual value of the contracts which we have won through open bidding is around Rs. 60,500 crores and coupled with our orders, which are our legacy railway projects, that is around Rs. 41,000 cr
rs,
h we have won through open bidding is around Rs. 60,500 crores and coupled with our orders, which are our legacy railway projects, that is around Rs. 41,000 crores. So, roughly, the order bo
Rs. 41,000 crore
60,500 crores and coupled with our orders, which are our legacy railway projects, that is around Rs. 41,000 crores. So, roughly, the order book of RVNL is Rs. 1,01,000 crores, which is unlimited. Vishal Periwa
Rs. 1,01,000 crore
legacy railway projects, that is around Rs. 41,000 crores. So, roughly, the order book of RVNL is Rs. 1,01,000 crores, which is unlimited. Vishal Periwal: Right, sir. And in terms of also that usually we do pro
Rs. 26,000 crore
civil engineering contracts, which is from the railways, highways, metros, the orders are around Rs. 26,000 crores. Orders which are from the electrical is around Rs. 10,900 crores and orders from signalling and
Rs. 10,900 crore
, metros, the orders are around Rs. 26,000 crores. Orders which are from the electrical is around Rs. 10,900 crores and orders from signalling and telecom is of value total is around Rs. 14,700 crores. In civil e
Rs. 14,700 crore
al is around Rs. 10,900 crores and orders from signalling and telecom is of value total is around Rs. 14,700 crores. In civil engineering part, our orders are in metro sector of roughly around Rs. 10,000 crores.
Rs. 10,000 crore
nd Rs. 14,700 crores. In civil engineering part, our orders are in metro sector of roughly around Rs. 10,000 crores. The highway sector is around Rs. 9,000 crores and the civil engineering sector, which includes
Rs. 9,000 crore
ur orders are in metro sector of roughly around Rs. 10,000 crores. The highway sector is around Rs. 9,000 crores and the civil engineering sector, which includes traditional railways, irrigation etc., is aroun
Rs. 7,000 crore
and the civil engineering sector, which includes traditional railways, irrigation etc., is around Rs. 7,000 crores. And electrical is spread over the overhead electrification that is 2 x 25 conversion in railway
Rs. 6,800
on form of coverage system and a major contract of BharatNet, in which the capital cost is around Rs. 6,800 and considering the complete O&M cost is spread over a 10- year period, it will be around Rs. 13,00
Guidance — 20 items
M. P. Singh
qa
“6,800 and considering the complete O&M cost is spread over a 10- year period, it will be around Rs.”
Pradeep Gaur
qa
“But it will be compensated by increase in the turnover from bidding project.”
Pradeep Gaur
qa
“This turnover will be not only able to match last year, it will increase it also.”
M. P. Singh
qa
“And in BharatNet project, there were some pre-bid expenses, they were also accounted for roughly value of Rs.”
Vishal Periwal
qa
“Chandan Kumar Verma: Yes, basically, there is a one-time expenditure in a BharatNet project in which we have done one consultancy work, pre-bid consultancy work for the bidding survey and bidding all that thing.”
M. P. Singh
qa
“Chandan Kumar Verma: We anticipate that there may be some losses at the end of the project, but in due course, we are doing the value addition.”
M. P. Singh
qa
“It is already the reshoots are visible and in this quarter, we expect to cover the substantial ground and we hope that our revenue will match last year's revenue to the 2nd quarter cumulatively.”
Pradeep Gaur
qa
“We will be exceeding the last year's revenue.”
Pradeep Gaur
qa
“Once these claims will be settled, the margins will improve.”
Rajesh Agarwal
qa
“And sir, Vande project is in schedule now?”
Risks & concerns — 1 flagged
And even, particularly on the margin front, I think we are noticing there has been a bit of pressure on the margins for this quarter.
— Vishal Periwal
Q&A — 3 exchanges
Q
Yes, sir. I think the result got posted some time back. So, I think maybe that is the reason people are just absorbing the result. So, if I can ask a few questions, can you share a couple of updates in terms of like, what has been the order inflow last quarter, how we have closed the order book, anything that can be provided?
M. P. Singh
Good afternoon. In this particular quarter, there has been some order inflows from civil engineering and electrical engineering. The total orders won in this quarter is roughly of value of Rs. 1,000 crores and total contracts which are now organized, one stands at around 96 contracts. The residual value of the contracts which we have won through open bidding is around Rs. 60,500 crores and coupled with our orders, which are our legacy railway projects, that is around Rs. 41,000 crores. So, roughly, the order book of RVNL is Rs. 1,01,000 crores, which is unlimited. Right, sir. And in terms of a
Q
Hello. Sir, on account of Bharat Sanchar order, how much losses extra you have booked? Chandan Kumar Verma: Pardon? Please repeat your question.
Rajesh Agarwal
On account of BharatNet order, how much extra expenses you have booked without commensurating revenue? Chandan Kumar Verma: Rs. 20 crores, approx. Rs. 20 crores. Approx Rs. 20 crores. And any other one-off is there? Kindly repeat. Any other one-off expenses are there? No other one-off expenses. No such other expenses. And you feel from 2nd quarter, the revenue mix will start improving? Yes, we are quite hopeful, second quarter. It is already the reshoots are visible and in this quarter, we expect to cover the substantial ground and we hope that our revenue will match last year's revenue to the
Q
Yes, sir. Thanks for the opportunity again. Sir, on Vande Bharat, I think you did mention June 26 is first prototype. So, how exactly things work after that? When we start recognizing revenue, how much time it takes from a prototype to actually commercially rolling out? So, can you give some background of this?
M. P. Singh
Yes, first, as we expect the first prototype to roll out by next June, so revenue will also start flowing out. As per the contract condition, 90% of the cost of the train set will be given on production of prototype and after its successful trial balance, 10% will also be released as revenue. And once the trials are successful and proving trials are held and the prototype is cleared for regular production, the regular production will start. So, in the next financial year, that is Financial Year ‘26-27, along with the prototype, we expect to see the regular production of the train sets also. I
Speaking time
Vishal Periwal
20
Pradeep Gaur
18
M. P. Singh
16
Rajesh Agarwal
10
Moderator
6
Opening remarks
Vishal Periwal
Yes, thanks and good afternoon, everyone and apologies for the slight delay in the start of the call. I welcome you all for the Quarter 1 FY '26 Post-Result Earnings Call of Rail Vikas Nigam Limited. The dais for this call is led by the management team of RVNL, starting with Mr. Pradeep Gaur Ji, who is the Chairman and Managing Director; Mrs. Anupam Ban Ji, who is the Director Personnel; Mr. M. P. Singh Ji, Director Operations and accompanied by Mr. Chandan Kumar Verma Ji, who is the Chief Financial Officer. So, as usual, we will have a brief from the management and then we will have lines open for Q&A. Thank you and over to you, sir.
Pradeep Gaur
Thank you so much and it is a pleasure to interact with investors. So, I think without much wasting of time, we will take your call because time is limited. So, we are ready to answer all the queries from the investors. Hello, Mr. Vishal.
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