RVNL reports mixed Q1, expects revenue growth

Rail Vikas Nigam Limited reported a 13.57% drop in gross margin for Q1 FY26, primarily due to decreased income from the Ministry of Railways. However, income from bidding projects increased 67%.

The company won new orders worth INR 1,000 crores in Q1, adding to an existing order book of INR 1,01,000 crores.

RVNL expects revenue to exceed last year's figures, with increased bidding project income compensating for reduced railway turnover. Vande Bharat train production is expected to begin regular production in FY27.