IDBI Capital: Rail Vikas Nigam’s Order Book In Execution Stage Has Increased
A food vendor walks past passengers sitting at the windows of Kalka Mail train. (Photographer: Dhiraj Singh/Bloomberg)  

IDBI Capital: Rail Vikas Nigam’s Order Book In Execution Stage Has Increased


BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

IDBI Capital Report

Rail Vikas Nigam Ltd., a rail engineering, procurement, and construction company has received new orders of Rs 61 billion in H1 FY21 and order book is healthy at Rs 822 billion (6 times trailing twelve months revenue).

We expect execution (revenue) to improve in H2 FY21 (H1 FY21 is down 8% YoY), as order book in execution stage has increased to Rs 462 billion (Q2 FY21) versus Rs 358 billion QoQ i.e. order book in execution stage is now at 56% versus 44% QoQ.

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IDBI Capital Rail Vikas Nigam Company Update.pdf


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