1. Financial Results Approval
The Board approved the Unaudited Financial Results (Standalone and Consolidated) for the quarter and half year ended 30th September 2026, as recommended by the Audit Committee.
2. Corporate Guarantee Approval
The Board approved the issuance of an unconditional and irrevocable Corporate Guarantee of ₹375 crore in favour of Export-Import Bank of India (Exim Bank). This guarantee is in connection with a term loan facility of ₹1,500 crore proposed to be availed by Kinet Railway Solutions Private Limited (KRSL), a Joint Venture of RVNL where RVNL holds 25% equity share capital. The transaction is stated to be done at "arm's length" basis.
3. Standalone Financial Performance (Q2 FY27)
Income Statement Highlights (Quarter Ended 30.09.2026):
- Revenue from Operations: ₹4,663.27 crore (vs ₹4,934.59 crore in Q2 FY26)
- Other Income: ₹154.74 crore (vs ₹201.20 crore in Q2 FY26)
- Total Income: ₹4,818.01 crore (vs ₹5,137.79 crore in Q2 FY26)
- Total Expenses: ₹4,534.84 crore (vs ₹4,832.00 crore in Q2 FY26)
- Profit Before Tax: ₹283.17 crore (vs ₹305.79 crore in Q2 FY26)
- Tax Expense: ₹68.51 crore
- Net Profit After Tax: ₹214.66 crore (vs ₹196.11 crore in Q2 FY26, a 9.45% increase)
- Earnings Per Share (Basic): ₹1.03 (not annualized)
Half-Year Performance (30.09.2026):
- Revenue from Operations: ₹8,966.08 crore
- Net Profit After Tax: ₹370.28 crore
- EPS (Basic): ₹1.78
Balance Sheet Position (Standalone as of 30.09.2026):
- Total Assets: ₹20,890.31 crore
- Total Equity: ₹9,086.02 crore
- Paid-up Equity Share Capital: ₹2,085.02 crore (Face Value ₹10 per share)
- Cash and Cash Equivalents: ₹606.29 crore
4. Consolidated Financial Performance (Q2 FY27)
Income Statement Highlights (Quarter Ended 30.09.2026):
- Revenue from Operations: ₹4,700.96 crore
- Net Profit After Tax: ₹253.71 crore
- Net Profit attributable to equity holders of parent: ₹249.46 crore
- Earnings Per Share (Basic): ₹1.20 (not annualized)
Half-Year Performance (30.09.2026):
- Revenue from Operations: ₹9,022.19 crore
- Net Profit After Tax: ₹413.23 crore
- EPS (Basic): ₹1.96
Balance Sheet Position (Consolidated as of 30.09.2026):
- Total Assets: ₹22,109.10 crore
- Total Equity: ₹10,101.88 crore
5. Emphasis of Matter by Auditors
The auditors, Gandhi Minocha & Co., drew attention to a significant matter regarding receivables from Krishnapatnam Railway Company Limited (KRCL), a joint venture company. The total amount receivable from KRCL as on 30th September 2026 is ₹1,057.13 crore (₹1,047.08 crore in consolidated notes), which includes ₹889.95 crore on account of Interest on delayed payment. There is an ongoing discussion with KRCL management regarding the applicability of simple interest prior to 30.09.2024 (RVNL changed from compound to simple interest w.e.f. 1st October 2024, while KRCL requested simple interest w.e.f. 01.04.2020). Any adjustment arising from the finalization of this matter will be recognized in the period in which it is concluded.
6. Subsidiary Update
In terms of Regulation 30 of SEBI LODR, it was disclosed that RVNL has deregistered its wholly owned subsidiary, RVNL Infra South Africa, with effect from 30 June 2026.
7. Segment Information
The Company operates in a single reportable operating segment "Development of Infrastructure" as per Ind AS 108.
8. Attachments
The following documents were attached to the filing:
1. Unaudited Financial Results (Standalone & Consolidated) for the quarter and half year ended 30.09.2026
2. Limited Review Report of the Auditor
3. Brief details for Corporate Guarantee as per SEBI Master Circular