Rail Vikas Nigam Q4 Review - Negligible Order Inflow Is Concerning: IDBI Capital

Trains running on track in Mumbai. (Source: BloombergQuint) 

Rail Vikas Nigam Q4 Review - Negligible Order Inflow Is Concerning: IDBI Capital


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IDBI Capital Report

Rail Vikas Nigam Ltd. Q4 FY21 Ebitda was better than our estimate.

For FY21 execution (revenue) increased by up 6% YoY and Ebitda margin increased by 30 basis points YoY to 5.7%.

The company has reported loss from its associate company at Rs 4 million and losses has reduced from Rs 166 million YoY.

Profit after tax increased by up 22% YoY and was driven by higher other income.

FY21 orderbook at Rs 750 billion provides revenue visibility for the next four years but company has received negligible orders in FY21.

Click on the attachment to read the full report:

IDBI Capital Rail Vikas Nigam Q4FY21 Result Update.pdf


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