Railway Stocks: How Did RVNL, IRCTC and 3 Others Perform in Q4?

Synopsis: Railway stocks witnessed a mixed yet closely watched FY26 as investors tracked government infrastructure spending, order inflows, execution pace, and future opportunities emerging from India’s expanding railway modernization plans. 

India’s railway sector remained a major focus area in FY26, supported by continued government investment in infrastructure, freight corridors, station redevelopment, electrification, and rolling stock manufacturing. The Union Budget allocated over Rs. 2.5 lakh Crores towards railway development, keeping capital expenditure at elevated levels. Companies linked to wagons, signalling, engineering, financing, and rail infrastructure benefited from strong order books and project activity during the year.

The sector’s long-term outlook remains positive as India targets modernization of its railway network, higher freight capacity, improved passenger infrastructure, and expansion of high-speed and metro connectivity. Increasing localisation, private participation, and export opportunities are also expected to support growth for railway-related companies in the coming years.

Rail Vikas Nigam Ltd

Rail Vikas Nigam Ltd is a public sector enterprise under the Ministry of Railways engaged in railway infrastructure development. The company executes projects including track doubling, electrification, bridges, metro rail, and station modernization. It also undertakes international infrastructure projects and plays a key role in India’s railway expansion plans. 

With the market capitalization of Rs. 49,822 Crores, the shares of Rail Vikas Nigam Ltd were trading at around Rs. 239 per share which is 46 percent discount from its 52 week  high of Rs. 443 per share and is trading at a P/E of 56.9 whereas industry P/E stands at 17.4

Revenue from operations has increased from Rs. 19,923 Crores in FY25 to Rs. 20,412 Crores in FY26, up 2.4 percent. Operating profit has decreased from Rs. 1125 Crores to Rs. 767 Crores, down 31 percent and net profit has decreased from Rs. 1282 Crores to Rs. 871 Crores, down 32 percent 

Railtel Corporation of India Ltd

RailTel Corporation of India Ltd is a public sector enterprise under the Ministry of Railways that provides broadband, telecom, and digital infrastructure services across India. The company operates one of the country’s largest optic fibre networks and offers services including data centres, cybersecurity, cloud solutions, Wi-Fi, and railway communication systems.

With the market capitalization of Rs. 10,206 Crores, the shares of Railtel Corporation of India Ltd were trading at around Rs. 318 per share which is 33 percent discount from its 52 week  high of Rs. 479 per share and is trading at a P/E of 28.1 whereas industry P/E stands at 19.2 

Revenue from operations has increased from Rs. 3478 Crores in FY25 to Rs. 4277 Crores in FY26, up 23 percent. Operating profit has increased from Rs. 535 Crores to Rs. 636 Crores, up 18.8 percent and net profit has increased from Rs. 300 Crores to Rs. 346 Crores, up 15percent. 

Ircon International Ltd

IRCON International Ltd is a leading engineering and construction public sector company under the Ministry of Railways. The company specializes in railway infrastructure, highways, bridges, tunnels, electrification, and metro projects. It operates across India and several international markets, executing large-scale transportation and infrastructure development projects.

With the market capitalization of Rs. 12,739 Crores, the shares of Ircon International Ltd were trading at around Rs. 135 per share which is 49 percent discount from its 52 week  high of Rs. 226 per share and is trading at a P/E of 21.4 whereas industry P/E 17.4

Revenue from operations has decreased from Rs. 10,760 Crores in FY25 to Rs. 9,071 Crores in FY26, down 15 percent. Operating profit has decreased from Rs. 847 Crores to Rs. 766 Crores, down 9.5 percent and net profit has decreased from Rs. 728 Crores to Rs. 592 Crores, down 18 percent. 

Indian Railway Catering & Tourism Corporation Ltd

Indian Railway Catering and Tourism Corporation Limited is a public sector enterprise under the Ministry of Railways and the exclusive provider of online railway ticketing services in India. The company also operates catering services, packaged drinking water under the Rail Neer brand, and tourism offerings including rail-based tour packages. IRCTC plays a crucial role in India’s railway ecosystem by enhancing passenger convenience through its digital and hospitality services. 

With the market capitalization of Rs. 40,860 Crores, the shares of  IRCTC ltd were trading at around Rs. 511 per share which is 36 percent discount from its 52 week  high of Rs. 799 per share and is trading at a P/E of 29.6 whereas industry P/E stands at 30.3 

Revenue from operations has increased from Rs. 4675 Crores in FY25 to Rs. 5215 Crores in FY26, up 11 percent. Operating profit has increased from Rs. 1551 Crores to Rs. 1666 Crores, up 7 percent and net profit has increased from Rs. 1315 Crores to Rs. 1393 Crores, up 5.9 percent. 

Indian Railway Finance Corporation Ltd

Indian Railway Finance Corporation Limited is the dedicated financing arm of the Ministry of Railways and plays a crucial role in funding India’s railway infrastructure. The company raises funds from domestic and international markets to finance the acquisition of rolling stock, railway projects and other infrastructure assets. As a key public sector financial institution, IRFC supports the expansion and modernization of the Indian Railways network. 

With the market capitalization of Rs. 1,25,170 Crores, the shares of Indian Railway Finance Corporation Ltd were trading at around Rs. 95.8 per share which is 35 percent discount from its 52 week  high of Rs. 149 per share and is trading at a P/E of 17.8 whereas industry P/E stands at 18.4 

Revenue from operations has increased from Rs. 27,153 Crores in FY25 to Rs. 27,285 Crores in FY26, up 0.4 percent. Financing profit has increased from Rs. 6504 Crores to Rs. 6962 Crores, up 7 percent and net profit has increased from Rs. 6502 Crores to Rs. 7009 Crores, up 7.8 percent. 

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