RVNL wins Rs 178-crore order from IRCON, check details

Shares of RVNL will be in focus on August 18 after the state-owned firm won an order worth Rs 178.64 crore from Ircon International. RVNL stock ended 0.63% lower at Rs 324.20 against the previous close of Rs 326.25 on BSE. The announcement was made at the end of market hours. Market cap of the firm stood at Rs 67,596 crore.

The multibagger railway stock hit a record high of Rs 619.40 on September 2, 2024. On the other hand, RVNL stock has risen 158.95% in two years and gained 947% in three years. 

The order is to be completed in 11 months. 

"Rail Vikas Nigam Limited has received LOA from IRCON International Limited for Supply of various signalling, telecommunications and EIMWB materials; Installation, Testing and Commissioning of Distributed/Centralised Electronic Interlocking (EI) Installations at 10 new stations," said RVNL. 

RVNL reported a 39.99% year-on-year (YoY) fall in its consolidated net profit to Rs 134.36 crore in Q1 compared to Rs 223.92 crore in the same period last year.

Revenue from operations fell 4% to Rs 3,908.77 crore YoY from Rs 4,073.80 crore in Q1FY24. Total income slipped 4.61% YoY to Rs 4,136.96 crore from Rs 4,336.75 crore in the corresponding quarter last year, indicating a softer topline performance.

Established in 2003, RVNL acts as the construction branch of the Ministry of Railways, dedicated to executing high-priority transportation infrastructure projects throughout India. The PSU has been instrumental in accelerating railway modernization and capacity enhancement efforts.