Rail Vikas Nigam Limited (RVNL) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Rail Vikas Nigam Limited stock ₹71.15, price ₹193, that is 63.2% below the price, quality 45 out of 100. Rating: strongly overvalued. Calculated from audited financials with 17 of our 26 valuation models and 37 quality factors, updated daily.
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Rail Vikas Nigam Limited
RVNL · NSEOur calculation puts a fair price 63% below what the stock costs today.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 2, 2026.
How to read this chart
60‑month range ₹24.85 – ₹620.41 · fair‑value band ₹67.03 – ₹103.57 · the ₹193.34 price screens above the ₹71.15 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 2, 2026.
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Company profile
Rail Vikas Nigam Limited, together with its subsidiaries, engages in rail infrastructure works in India and internationally. The company undertakes rail project development and implementation, as well as provides financial resources mobilization services.
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It also executes various railway projects, including new lines, doubling, gauge conversion, railway electrification, workshops, bridge work, mega and monumental bridges, metro and metropolitan transport projects, new lines, hilly railway projects, construction of cable stayed bridges, institutional buildings, track renewal, training institutes, railway and other safety works, traffic facilities, and road over bridges, etc.
In addition, the company engages in civil engineering; equipment and engine; installation of solar energy systems, and electricity transmission and control apparatus; installation and maintenance of underwater telecommunications and power cables; contracting of electrical fittings, ports and marine construction, dams, and tunnels; business planning and implementation; consulting; construction of rail links, subways, irrigation systems, canals, water main storage towers, transmission lines, and feeder bays; installation, maintenance, and repair of solar energy collectors; and operation and maintenance of railway facilities.
It serves Indian Railways, various central and state government ministries, departments, and public sector undertakings. Rail Vikas Nigam Limited was incorporated in 2003 and is based in New Delhi, India.
Stock analysis
Rail Vikas Nigam Limited (RVNL) currently trades at ₹193.34, while our model-based Fair Value estimate is ₹71.15, 63% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹78.68 per share, and 0 of the 15 models we run sit above the ₹193.34 price.
Bear case: the Asset-Based group reads lowest at ₹8.13, and 15 of the 15 models stay below the price. Data coverage for this calculation is medium.
Scenario range: ₹67.03 (bear) to ₹103.57 (bull), the price of ₹193.34 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 45/100 (below-average quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Rail Vikas Nigam Limited reported revenue of ₹204B in FY2026 versus ₹194B in FY2022, a compound +1.3%/yr. Reported net income was ₹8.7B in FY2026, compounding −5.8%/yr from FY2022.
Key figures
Market cap ₹403B (≈ $4.3B) Mid · P/E ratio 44.9 · P/S ratio 1.93 · EPS (TTM) ₹4.31 · Dividend yield 0.6% · Net margin 4.3% · Return on equity 9.0% · Return on assets (EBIT) 6.2% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).
What moves the price
The share trades about 50% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −42% fair-value upside, at −63%, RVNL screens richer than that median.
Fair Value models
All 17 models by family
The fair value above starts from this blend and is adjusted for a year distorted by one-off effects.
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
RVNL screens overvalued: fair value 63% below the price. Compare with Quanta Services, Inc →
Compare Rail Vikas Nigam Limited with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Engineering & Construction · 791 stocks
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Industrials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- P/B ratio by industry
- Net margin by industry
- PEG screener for stocks with fair value
- Undervalued stocks: Industrials
- Undervalued stocks: Indian Stocks
- Valuation of the India market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Vinci SA DG | €111.60 | €186.68 | +67% | vs RVNL |
| Comfort Systems USA, Inc FIX | $1,018 | $1,119 | +10% | vs RVNL |
| EMCOR Group EME | $608.45 | $524.14 | −14% | vs RVNL |
| ACS, Actividades de Construcción y Servicios, S.A ACS | €87.00 | €62.21 | −28% | vs RVNL |
| Samsung C&T Corporation 028260 | 273,500 KRW | 159,702 KRW | −42% | vs RVNL |
| Larsen & Toubro Limited LT | ₹4,118 | ₹2,302 | −44% | vs RVNL |
| HOCHTIEF Aktiengesellschaft HOT | €365.60 | €203.86 | −44% | vs RVNL |
| APi Group APG | $40.87 | $19.20 | −53% | vs RVNL |
| Ferrovial N.V FER | $58.71 | $23.06 | −61% | vs RVNL |
| Quanta Services, Inc PWR | $540.90 | $162.41 | −70% | vs RVNL |
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Frequently asked questions
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Key figures of Rail Vikas Nigam Limited
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