Event Type: Q4 FY26 Earnings Conference Call with Investors/Analysts

Event Date/Time: 26th May 2026, 14:30 hours (Duration: 30 minutes 08 seconds)

Purpose: Discussion of quarterly results and year-ended performance for FY26, strategic updates, and business outlook

Management Participants:

  • Shri. Saleem Ahmad - Chairman & Managing Director
  • Smt. Anupam Ban - Director (Personnel)
  • Shri. Mritunjay Pratap Singh - Director (Operations)
  • Shri. Abhishek Kumar - Director (Finance)
  • Shri. Amit Tandon - Director (Projects)
  • Shri. Chandan Kumar Verma - Chief Financial Officer

Q&A Participants:

  • Vishal Periwal - RK Family Office
  • Abhishek K Leekha - Nestle Wealth LLP

Transcript Availability: The full transcript of the audio recording is available on the company website at: https://rvnl.org/RVNL_cms/uploads/ScheduleOfAnalystsResult/transcript.pdf

Financial Period Discussed: Q4 FY26 (January-March 2026) and Full Year FY26

Key Financial Highlights Disclosed:

  • Standalone Q4 revenue increased by 47.6% QoQ (Q3 FY26 to Q4 FY26)
  • Standalone revenue growth of 4.78% YoY (Q4 FY25 to Q4 FY26)
  • Consolidated turnover grew by 42.94% QoQ and 2.45% YoY
  • Standalone EBITDA declined by 16.88% QoQ and 26.74% YoY
  • EBITDA margin reduced from 10.36% in Q3 to 5.83% in Q4 FY26
  • PAT declined by 19.66% QoQ and 32% YoY
  • Margin pressure attributed to onerous contracts (₹54 crores) and JV reconciliation adjustments (₹35 crores)

Order Book Details:

  • Total order book as of March 31, 2026: ₹99,262 crore
  • Standalone order inflow Q4 FY26: ₹4,644 crores
  • Full year standalone order inflow: ₹5,875 crores
  • JV order inflow: ₹1,201 crores
  • Order book breakdown:
  • Railways: ₹57,000 crores
  • Signaling: ₹14,900 crores
  • Port, Roads, Highways: ₹10,400 crores
  • Metros: ₹9,900 crores
  • Power & Transmission: ₹4,000 crores
  • Hydro & Irrigation: ₹2,000 crores

Project Updates:

  • BharatNet Project (₹13,236 crore): 15.01% physical progress achieved
  • Rishikesh Karnaprayag Rail Project (₹37,000 crore): 74% overall progress, 96% tunnel excavation complete
  • Vande Bharat Sleeper Train Set (₹14,400 crore): First prototype targeted for December 2026

JV & Subsidiary Performance:

  • Contributed ₹399.86 crore to consolidated revenue
  • Contributed ₹64.23 crore to PAT
  • Dividend income from JVs: ₹43.45 crore (Q4), ₹47.88 crore (full year)

Dividend Information:

  • Interim dividend paid: ₹208 crores
  • Final dividend proposed: ₹148.03 crores (subject to shareholder approval)

Operational Metrics:

  • Employee productivity improved from ₹21.23 crore to ₹22.46 crore
  • Building works contributed 31.40% to total revenue (129.50% increase from previous year)

Forward-looking Statements:

  • Expected revenue growth: 15-20% in FY27
  • Margin improvement expected starting Q1 FY27
  • Focus on PMC works and selective bidding with 5-10% profit target

Compliance Statement: The conference call contained discussion of published results and no unpublished price sensitive information was shared.

Additional Notes Section

  • The document includes the full transcript of the earnings conference call held on May 26, 2026
  • No financial presentations or additional attachments were mentioned in this disclosure
  • The company received MoU rating of "very good" for 2024-25 from Department of Public Enterprises
  • Receivables challenge mentioned due to ₹3,400 crores recoverable from Ministry of Railways (received in April)
  • Krishnapatnam Railway Company receivables: ₹1,116 crores (including ₹890 crores interest)