As per the exchange filing, RVNL has bagged two letters of award from Himachal Pradesh State Electricity Board Ltd. It has secured orders worth ₹1,298 crore for the development of distribution infrastructure in the south and north zones of Himachal Pradesh State Electricity Board under the revamped reforms-based and results-linked, distribution sector scheme.

Besides, the company has won a project worth ₹251 crore from the Madhya Pradesh Poorv Kshetra Vidyut Vitaran Company for supplying, installing, testing, and commissioning 11 KV Line-associated works in Jabalpur. Adding to it, the RVNL and URC joint venture have bagged a contract worth ₹543 crore from Madhya Pradesh Metro Rail Corporation (MPMRCL) for the Indore Metro Rail Project.

For the third quarter ended December 31, 2023, RVNL reported a decline of 6.2% in net profit at ₹358.6 crore, compared to ₹382.4 crore in the year ago period. The revenue from operations fell 6.4% to ₹4,689.3 crore as against ₹5,012.1 crore in the same period last year. The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) slipped 9.6% YoY to ₹249 crore in Q3 FY24, while EBIT margin stood at 5.3% versus 5.5% in the same period last year. In its post-earnings conference call with investors, the management said that RVNL’s turnover crossed ₹15,000 crore marks for the first time in FY23-24, while its order book touched ₹65,000 crore, which roughly constitutes 50% of the typical railway projects.

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Himachal Pradesh State Electricity Board

RVNL shares jump 8% on bagging multiple orders