Rail Vikas Nigam Ltd (RVNL) announced on July 2 that it has won a ₹132.59 crore contract from Central Railways. The project involves upgrading the 1 x 25-kilovolt electric traction system to a 2 x 25-kilovolt system in the Wardha-Ballarshah section of the Nagpur division. The goal is to meet a loading target of 3,000 MT. The work is expected to be completed in two years.
This news comes a day after RVNL said it will finish construction of two piers near the Metropolitan crossing on Kolkata Metro’s New Garia-Airport route by August. The Kolkata Traffic Police have allowed a 90-day traffic block from June 13 to facilitate the work. The New Garia-Beleghata stretch, about 10 km long, is likely to be commissioned this fiscal year. Currently, Metro services run between New Garia and Ruby Crossing, covering 5.5 km.
New Delhi-based Rail Vikas Nigam Limited (RVNL) specializes in building rail infrastructure projects across India. Established in 2003, the company works on new railway lines, doubling tracks, gauge conversion, railway electrification, workshops, metro projects, bridges, cable-stayed bridges, and institution buildings. It also helps with raising funds for its projects. RVNL serves clients like Indian Railways, central and state government ministries, and public sector undertakings.
Financial Performance
RVNL’s profit jumped 33.2% year-on-year to Rs 478.6 crore in the March quarter of the financial year 2024 (Q4FY24), compared to Rs 359 crore in the same quarter last year (Q4FY23). The company’s revenue increased by 17% to Rs 6,714 crore, up from Rs 5,719.8 crore in Q4FY23.
The earnings before interest, taxes, depreciation, and amortization (Ebitda) margin stood at 6.8% in Q4FY24. RVNL’s stock price closed at ₹411.65 on the NSE, down 0.81%. This year, the stock has surged by over 126%.
