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Prices as of 8 Oct 2026 close · Not investment advice

Rail Vikas Nigam Limited

NSE: RVNLCivil Construction

Share price

₹187.20

-4.43% close of 8 Oct 2026

Market cap ₹39,031 CrP/E 43.4

Business score

How strong the business is, in one number. The parts behind it are in Pro.

47

out of 100 · worked out 8 Oct 2026

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹39,031 Cr

P/E ratio

43.4

P/B ratio

4.0

ROCE

10.8%

ROE

9.0%

Dividend yield

0.9%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 8 Oct 2026 close52-week high ₹387.9552-week low ₹187.20

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Sales grew 5.4% over the past year, and 8.5% a year over its longer record. Meanwhile what it keeps of every 100 rupees of sales slipped from 6.1% to 4.3% over the last four years.

Whether it grew faster than its sector

It grew 8.5% a year against a sector median of 9.1% — 0.7 percentage points slower.

Room to re-rate, or risk of de-rating

At 43.4× earnings it costs 1.8× the market, which pays 23.9× across 2199 companies we can price. Its own industry sits at 28.3×, across 5 companies. It is against its own five-year median of 41.5×, the 51st percentile of its own range.

Whether growth justifies the valuation

Its earnings are falling, so growth cannot justify the price.

Profit growthPrice per ₹1 profitPer 1% growth
Rail Vikas Nigam Limited — this one-13%/yr43.4×—
Larsen & Toubro17%/yr28.3×₹1.7
Kalpataru Projects International Limited36%/yr21.4×₹0.60
IRB Infrastructure Developers Limited8%/yr21.6×₹2.7
NBCC (India) Limited13%/yr29.2×₹2.2
Cemindia Projects Limited68%/yr32.2×₹0.47

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Civil Construction), it ranks 55 of 89 on returns, 46 of 84 on growth, 77 of 90 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

No durable advantage shows in the numbers: it earns 10.8% on capital, ahead of 38% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

Yes — Over the last five years it made ₹3677 crore of cash from the business, spent ₹992 crore on plant and equipment, and returned ₹5635 crore to lenders and shareholders. But only about 33 of every 100 rupees of profit it reported over 12 years arrived as cash — the rest is tied up. Its cash comes back more slowly than it used to: it went from being waiting 15 days for its cash to waiting 98 days for its cash.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

7 of 9 checks clear · 78%

Latest result · Q1 FY27

What the last results showed. Whether management kept its word is in Pro.

Growth guidance raised to 15%, but the Vande Bharat prototype and Karnaprayag line both slipped.

Announced 11 Aug 2026 · Consolidated · Unaudited

Revenue

₹4,321 Cr

Revenue vs last year

+10.6%

Revenue vs last quarter

-35.5%

Net profit

₹160 Cr

Profit vs last year

+19.0%

Profit vs last quarter

-12.4%

Net margin

3.7%

EPS

₹0.76

Earnings call transcript · 18 Aug 2026

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap
₹39,031 Cr
Prev close
₹187.20
52w High
₹401
52w Low
₹187
Enterprise value
₹42,881 Cr
Beta
1.6
Price CAGR 1y
-43.0%
Price CAGR 3y
7.0%
Price CAGR 5y
45.0%
Price CAGR 10y
—

Ratios

Return on assets
4.0%
PEG ratio
-3.3
P/E ratio
43.4
P/B ratio
4.0
EV / EBITDA
48.1
Industry P/E
15.6
ROCE
10.8%
ROCE 5y average
15.4%
ROE
9.0%
Debt / Equity
0.5
Interest coverage
3.8
Dividend yield
0.9%
ROE 3y average
14.0%
ROE last year
9.0%

Annual P&L

Annual revenue
₹20,412 Cr
Annual profit
₹871 Cr
Operating margin
3.8%
Net profit margin
4.3%
EBITDA margin
3.8%
Sales growth 3y
0.2%
Sales growth 5y
5.8%
Profit growth 3y
-13.0%
Profit growth 5y
-2.0%
EPS
₹4.2
Sales growth TTM
5.0%
Profit growth TTM
-24.0%
Dividend payout
41.0%

Quarter P&L

Sales latest quarter
₹4,321 Cr
Profit latest quarter
₹160 Cr
YoY quarterly sales growth
10.6%
YoY quarterly profit growth
19.4%
OPM latest quarter
4.3%

Balance Sheet

Book Value
₹47.1
Face Value
₹10.0
Total debt
₹4,818 Cr
Total cash
₹968 Cr
Borrowings
₹4,818 Cr
Reserves / Equity
3.7

Cash Flow

Operating cash flow
-₹1,889 Cr
Free cash flow
-₹1,949 Cr
FCF yield
-6.1%
Net cash flow
-₹2,571 Cr

Shareholding

Promoter holding
72.8%
FII holding
2.4%
DII holding
6.6%
Public holding
18.1%

Peer comparison

CompanyPrice ₹P/EMkt cap ₹ CrDiv yield %Profit qtr ₹ CrProfit var %Sales qtr ₹ CrSales var %ROCE %
Larsen & Toubro3,630.0028.44,99,4501.044,988.014.067,941.76.714.6
Rail Vikas188.7543.739,3550.87159.518.54,321.210.610.8
Kalpataru Proj.1,423.8021.924,3150.75311.545.16,408.03.818.3
IRB Infra.Devl.17.6921.721,3660.87306.351.32,137.31.87.5
NBCC74.2429.320,0451.30158.017.22,259.5-5.529.3
Cemindia Project1,152.1033.019,7920.24140.82.62,720.95.632.8
Engineers India288.0520.716,1901.80157.9141.5819.8-5.830.4
Median126.3515.96130.0010.617.7171.911.015.5

Competes with: A B Infrabuild Limited, A2Z Infra Engineering Limited, ATLANTAA LIMITED, Afcons Infrastructure Limited, Ahluwalia Contracts (India) Limited, Akash Infra-Projects Limited, Annu Projects Limited, Ashoka Buildcon Limited, B. L. Kashyap and Sons Limited, BCPL Railway Infrastructure Limited, Banka BioLoo Limited, Bharat Road Network Limited, Brahmaputra Infrastructure Limited, Capacit'e Infraprojects Limited, Ceigall India Limited, Cemindia Projects Limited, Central Mine Planning & Design Institute Limited, Deepak Builders & Engineers India Limited, Dilip Buildcon Limited, Engineers India Limited, G R Infraprojects Limited, GK Energy Limited, GPT Infraprojects Limited, Garuda Construction and Engineering Limited, Gayatri Projects Limited, Globe Civil Projects Limited, H.G. Infra Engineering Limited, HEC Infra Projects Limited, Hazoor Multi Projects Limited, Hindustan Construction Company Limited, IRB Infrastructure Developers Limited, Indian Hume Pipe Company Limited, Interarch Building Solutions Limited, Ircon International Limited, Isgec Heavy Engineering Limited, J.Kumar Infraprojects Limited, KEC International Limited, KNR Constructions Limited, Kalpataru Projects International Limited, Kridhan Infra Limited, LCC Projects Limited, Larsen & Toubro, Likhitha Infrastructure Limited, M & B Engineering Limited, MBL Infrastructure Limited, Madhav Infra Projects Limited, Madhucon Projects Limited, Man Infraconstruction Limited, Markolines Pavement Technologies Limited, Mold-Tek Technologies Limited, NBCC (India) Limited, NCC Limited, Navkar Urbanstructure Limited, Niraj Cement Structurals Limited, OM INFRA LIMITED, Om Power Transmission Limited, PNC Infratech Limited, PSP Projects Limited, Patel Engineering Limited, Power Mech Projects Limited, R.P.P. Infra Projects Limited, RITES Limited, RKEC Projects Limited, Ramky Infrastructure Limited, Rudrabhishek Enterprises Limited, SAB Industries Limited, SEPC Limited, SPML Infra Limited, SRM Contractors Limited, Sadbhav Engineering Limited, Sadbhav Infrastructure Project Limited, Semac Construction Limited, Simplex Infrastructures Limited, Solarworld Energy Solutions Limited, Sterling and Wilson Renewable Energy Limited, Supreme Infrastructure India Limited, Swastika Infra Limited, Tarmat Limited, Teamo Productions HQ Limited, Techno Electric & Engineering Company Limited, Twamev Construction and Infrastructure Limited, Udayshivakumar Infra Limited, Univastu India Limited, Vikran Engineering Limited, Vindhya Telelinks Limited, Vishnu Prakash R Punglia Limited, Viviana Power Tech Limited, W S Industries (I) Limited, Welspun Enterprises Limited, Zodiac Energy Limited

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Consolidated · to 30 Jun 2026
Line itemJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales5,5724,9144,6896,7144,0744,8554,5676,4273,9095,1234,6846,6964,321
Expenses5,2224,6164,4406,2583,8924,5994,3285,9943,8564,9064,4646,4274,137
Material Cost5,8933,6964,7674,3546,3194,046
Change in Inventories000000
Purchases of Stock-in-Trade000000
Employee Cost455053514654
Other Expenses5611086596336
Operating Profit34929824945618225623943353217221269185
OPM %6.276.075.316.804.465.285.246.741.354.234.714.014.27
Other Income28932035832326428132623623823430889147
Exceptional items (within Other Income)000000
Interest1461331391501371411451171081001059898
Depreciation665477799991010
Profit before tax487480463625302389413543173342415250224
Tax %30182223262625162333222729
Net Profit343394359478224287312455134231324182160
EPS in Rs1.641.891.722.301.071.381.492.180.651.101.550.900.76
Diluted EPS in Rs2.200.651.101.550.900.76

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Consolidated · to 31 Mar 2026
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales3,1474,5405,9157,59710,06914,53115,40419,38220,28221,87919,92320,41220,825
Expenses3,0014,3235,6887,2159,53813,75714,52418,19919,03520,52518,79319,64519,934
Material Cost18,40619,187
Change in Inventories00
Purchases of Stock-in-Trade00
Employee Cost188199
Other Expenses204258
Operating Profit1462172283825317738801,1831,2461,3541,131767891
OPM %4.604.803.90555666663.804.30
Other Income1231803563313662468088311,0771,2661,091869779
Exceptional items (within Other Income)00
Interest152335455241458564581568545419400
Depreciation555562023212221313638
Profit before tax2483705436648399581,2071,4301,7192,0301,6461,1811,231
Tax %161918141821182222242226
Net Profit3374294435706887579921,1101,3421,5511,278871896
EPS in Rs1.622.062.132.733.303.634.765.326.447.446.134.204.31
Diluted EPS in Rs6.154.20
Dividend Payout %11958292731333433282841

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years
16%
5 years
6%
3 years
0%
TTM
5%

Compounded profit growth

10 years
7%
5 years
-2%
3 years
-13%
TTM
-24%

Stock price CAGR

10 years
—
5 years
45%
3 years
7%
1 year
-43%

Return on equity

10 years
16%
5 years
16%
3 years
14%
Last year
9%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital2,0852,0852,0852,0852,0852,0852,0852,0852,0852,0852,0852,085
Reserves9751,3371,4721,8392,3113,0343,5514,2405,1616,6377,4827,737
Borrowings2,5142,6242,4372,2593,0244,2575,9316,6436,4416,0335,4194,818
Other Liabilities10,56116,1692,8662,1014,6693,0192,6547,0974,6564,8225,4927,062
Minority Interest0.30-3.74
Total Liabilities16,13522,2168,8608,28412,08912,39514,22120,06618,34419,57720,47821,702
Fixed Assets6682492793052923803553671,0271,025
CWIP261321112553119400
Investments8961,0241,0891,2311,5861,5881,7301,8101,9042,3812,5552,645
Other Assets15,23221,1807,7516,78310,21210,47612,14517,87516,08416,73516,89618,032
Total Assets16,13522,2168,8608,28412,08912,39514,22120,06618,34419,57720,47821,702

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity113652571-363-695-9624194,793-4,0642,9561,881-1,889
Cash from Investing Activity-29100-2536320124312-1,4311,355-1,4021,629942
Cash from Financing Activity-152-182-668-581319827416-189-1,048-1,287-1,487-1,624
Net Cash Flow-68570-123-908-56-111,1483,173-3,7572672,023-2,571
Free Cash Flow104634385-454-721-9832774,678-4,1252,6301,450-1,948

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days223930342321231817183396
Cash Conversion Cycle223930342321231817183396
Working Capital Days267502170991221291549343998
ROCE %79121312161617181511

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Consolidated · to 30 Jun 2026
Line itemSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters737373737373737373737373
FIIs2.322.592.323.135.055.105.074.894.664.974.862.41
DIIs5.836.086.186.776.336.166.216.386.396.376.426.60
Government000000.010.010.010.010.010.010.01
Public191919171616161616161618
No. of Shareholders13,41,09813,97,69918,44,55120,74,70922,96,18823,17,90323,71,56822,90,74522,79,94622,07,48821,90,49122,10,914

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year -45.6% (₹344.40 → ₹187.20)Brick size ₹6.03 (fixed)Bricks 80
₹200₹300₹187Nov '25Jan '26Mar '26May '26Jul '26Sep '26
Price moved up one brickPrice moved down one brickLast close ₹187.20 on 8 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash

3,850inr_cr

2026-03-31

order book, Rs crore

93,492inr_cr

2026-06-30

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-03-31

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.12cr

2026-03-31

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-03-31

FY revenue / permanent employees + workers, same basis (calc)

80,04,90,400inr

2026-03-31

News

News and filings about Rail Vikas Nigam Limited. Open one to see why it matters.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Competes with

Depends on the price of

  • cement
  • steel

Buys from

Sells to

  • Ministry of Railways · rail infrastructure project execution (doubling, gauge conversion, new lines, electrificat…
  • NMDC Limited · infrastructure/civil construction (buffer stockpile facilities, EPC)
  • National Highways Authority of India (NHAI) · highway/road construction (EPC)

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector
Construction
Industry
Civil Construction
Classification
Construction › Civil Construction
ISIN
INE415G01027

News impact

Big market events that reach Rail Vikas Nigam Limited, and how the effect spreads.

Who it hits first

  • Power Mech Projects Limited won a Rs 279.20 crore three-year upkeep (O&M, or operations and maintenance) contract from Telangana Power Generation Corporation for YTPS.
  • The job covers ash and coal handling plants across five 800 MW units, adding to Rs 3,113 crore FY27 inflows and a Rs 17,317 crore order book.
  • Shares gained 3% as the recurring work lifts revenue visibility for the construction firm.

Who may gain

  • Power Mech Projects Limited, a construction firm for power work, as it bills the Rs 279.20 crore upkeep deal over three years.
  • Telangana Power Generation Corporation, the state power producer, as expert handling keeps its five 800 MW units running.
  • Workers and local vendors at YTPS, as three years of handling work sustains site jobs and supplies.

Along the supply chain

Downstream

Downstream, Telangana Power Generation Corporation, the power producer buyer, receives steady handling service for its YTPS units over three years.

Upstream

Upstream, the pack lists no suppliers to Power Mech, so no vendor gets a direct lift; spares and manpower will be sourced as the job runs.

Where demand moves

Business

TGGENCO pays Power Mech for running ash and coal handling, so Power Mech hires crews and buys spares while the plant stays online.

Capital

Investors lift Power Mech 3% on the recurring win, while rival contractors without new orders stay flat.

How it spreads across sectors

Construction

A Rs 279.20 crore recurring win shows power O&M outsourcing is steady, aiding sentiment for builders.

Power

Generators like TGGENCO secure reliable plant running, supporting steady power supply.

When it plays out

Immediate

Power Mech holds its 3% gain as the market digests the Rs 279.20 crore three-year award this week.

Medium term

Steady quarterly billing over three years; tight execution and cost control decide margins.

Short term

Crews and systems mobilise at YTPS while billing starts on the handling contract.

Who it hits first

  • Kalpataru Projects International, which builds transmission lines and infrastructure, rose 2.5% on September 28 after its Swedish unit Linjemontage i Grastorp listed on Nasdaq Stockholm at SEK 46.
  • Kalpataru keeps about 65.9% of the listed unit, so the listing puts a public price on a holding that was hard to value before.
  • The gain came despite a wider market sell-off, showing the listing news outweighed weak sentiment that day.

Who may gain

  • Kalpataru Projects International shareholders, who now see a market value for the kept 65.9% stake in the Swedish grid builder.
  • Linjemontage i Grastorp, the Swedish grid contractor, which gains its own listed shares and easier access to Swedish capital.
  • No rival builder gains work from this listing — the benefit stays with the owner of the stake.

Along the supply chain

Downstream

No change for buyers — grid owners such as Power Grid and GAIL buy finished lines, not shares, so their costs and timelines are untouched.

Upstream

No extra pull for suppliers — pipe and cable makers such as Welspun Corp, which supplies Kalpataru, see no new orders from a share listing.

Where demand moves

Business

No new building work changes hands — selling existing shares in Linjemontage at SEK 46 does not create transmission-line orders for Kalpataru or any rival.

Capital

Money flows toward Kalpataru as investors pay up for the newly priced 65.9% stake, while the Swedish unit collects its IPO funds in Stockholm for future grid work.

How it spreads across sectors

Capital Goods

No real lift for equipment and cable makers, since a single owner's stake listing creates no extra demand.

Construction

Mild positive mood as one builder shows a hidden asset can be priced, but no new orders spread to peers.

When it plays out

Immediate

Kalpataru shares hold the 2.5% listing pop over 1-7 days while traders compare the SEK 46 price to the kept 65.9% stake.

Medium term

Over 1-6 months value depends on the Swedish unit's grid orders and Kalpataru's debt and delivery, not the listing day.

Short term

Over 1-4 weeks focus shifts to whether the Swedish shares hold above SEK 46 and how Kalpataru uses any proceeds.

Who it hits first

  • Kalpataru Projects International, a construction and engineering builder, won a Rs 4,000-crore-plus gas pipeline building contract in the UAE.
  • Despite the win, Kalpataru Projects shares slipped 1.14% to Rs 1,375.30 from Rs 1,391.20, showing a cool first reaction.
  • The job adds large overseas backlog and multi-month execution work for Kalpataru Projects and its site suppliers.

Who may gain

  • Kalpataru Projects International, the construction and pipeline builder, gains backlog and revenue visibility
  • Pipe, cable and material suppliers to pipeline work see possible follow-on orders
  • UAE gas network owners gain delivery capacity for the pipeline stretch

Along the supply chain

Downstream

Downstream, the UAE gas system and its users gain pipeline capacity once built; Indian customers named in the graph such as GAIL India, Indian Oil and Power Grid gain no direct volumes from this UAE job.

Upstream

Upstream, pipe, steel, cable and engineering suppliers such as Welspun Corp, a large pipe maker, could see enquiries if Kalpataru Projects buys pipes and materials for the UAE pipeline stretch.

Where demand moves

Business

Kalpataru Projects receives direct business demand through a Rs 4,000-crore-plus UAE gas pipeline building job, adding multi-month site work, equipment hiring and subcontracting.

Capital

Investors reprice order-book visibility for Kalpataru Projects, while rivals get only light sentiment buying since no money or contract flows to them.

How it spreads across sectors

Construction

Order-book sentiment firms as a large overseas pipeline win shows demand for Indian builders, but only the winner books work.

Oil, Gas & Consumable Fuels

A new gas pipeline stretch supports gas movement and contractor demand, with no direct fuel-price change for Indian gas sellers.

When it plays out

Immediate

In 1-7 days Kalpataru Projects trades on order-book cheer against the weak 1.14% first reaction and margin questions.

Medium term

In 1-6 months progress depends on mobilisation, permits, pipe buying and execution updates from the UAE site.

Short term

In 1-4 weeks focus shifts to contract details, margin, payment terms and any supplier orders linked to the job.

Who it hits first

  • Kalpataru Projects International (KPIL), a power-line and civil builder, listed its Swedish unit Linjemontage on Nasdaq Stockholm.
  • KPIL says it is the first Indian firm to list a foreign subsidiary in Sweden, giving the unit a visible market price.
  • No sale size, price, or cash raised was disclosed, so the parent's gain is value recognition rather than fresh money.

Who may gain

  • KPIL shareholders may see the hidden value of the Swedish unit reflected in the parent's price.
  • Linjemontage gains its own listing status, easing future fundraising in Sweden.
  • Rival builders, pipe suppliers, and rail buyers named in the pack gain no orders from this listing.

Along the supply chain

Downstream

No customer tariff or contract changes follow; rail and power buyers such as RVNL continue existing terms untouched.

Upstream

No new pipes, cables, or steel are ordered by a share listing, so Welspun Corp and other named suppliers see no volume change.

Where demand moves

Business

No project or supply order flows from a listing; the business effect is nil beyond Linjemontage's own standing in Sweden.

Capital

Capital may rotate mildly toward KPIL on value-unlocking hopes, while rivals see no reason for fresh buying.

How it spreads across sectors

Construction

Mild pride for Indian builders going global, but no orders move, so peers stay flat.

Infrastructure

No effect — the listing is a single firm's capital event with no project pipeline behind it.

When it plays out

Immediate

1-7 days: KPIL trades on listing cheer; watch the Linjemontage debut price in Stockholm.

Medium term

1-6 months: any follow-on share sale or Swedish fundraising shows whether the listing brings real cash.

Short term

1-4 weeks: analysts add the listed unit's value to KPIL targets if the debut holds.

Who it hits first

  • Engineers India, the oil-and-gas engineering consultant, won a $450M+ order from Dangote Group for a Kenya refinery.
  • The win lifts EIL order backlog and fee visibility for several quarters, supporting its shares first.
  • Rival builders gain only mood, not money, since Dangote hired EIL alone.

Who may gain

  • Engineers India shareholders, as a large overseas refinery fee lands in its order backlog.
  • EIL equipment and site-service suppliers, if pipes, cables, and erection work get sourced from India.
  • Indian EPC sentiment broadly, as a $450M Africa win shows export refinery demand is alive.

Along the supply chain

Downstream

Dangote's Kenya refinery, once built, lifts East Africa fuel output and trims import needs, helping regional fuel security rather than any listed Indian fuel seller directly.

Upstream

Makers of boilers, transformers, cables, pipes, and pumps that sell to EIL could see sub-orders as the Kenya refinery is built; those supplier names sit outside the ranked pool with no fundamentals rows here.

Where demand moves

Business

Dangote pays Engineers India for refinery engineering and site management; EIL in turn buys equipment, pipes, and site services, pushing work to its supply chain.

Capital

Investors re-rate Engineers India on backlog growth and lightly bid up close consultancy peers like NBCC and RITES on win sentiment.

How it spreads across sectors

Capital Goods

EPC win sentiment lifts order-book hopes for refinery-adjacent contractors, though only EIL books revenue.

Chemicals

Refinery-linked chemical makers see no direct flow; any lift is broad energy-capex mood only.

Oil, Gas & Consumable Fuels

A new Kenya refinery adds future East Africa fuel supply, neutral for Indian refiners with no stake.

Power

No power-plant link; power names move only if infra sentiment spills over.

A pattern seen before

Cascade chain

Pattern name

Crude Oil Cascade

Patterns

  • Crude Oil Cascade

Sectors queried

  • Cement
  • Chemicals
  • FMCG
  • Power

When it plays out

Immediate

EIL shares react to the $450M+ win headline; peers drift on sentiment within days.

Medium term

EIL books fee revenue as Kenya engineering progresses; suppliers feel sub-orders if EIL sources from India.

Short term

Analysts size the backlog and margin; EIL holds gains if order details confirm, peers fade without own wins.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Dividends

18 Aug 2026unspecified₹0.71
11 Feb 2026interim₹1
21 Aug 2025unspecified₹1.72
23 Sep 2024unspecified₹2.11
20 Sep 2023unspecified₹0.36
6 Apr 2023interim₹1.77
22 Sep 2022unspecified₹0.25
24 Mar 2022interim₹1.58

Splits, bonuses & buybacks

  • daily-prices repair: 8 rows from NSE's archive (replace 1, delete 1, insert 6), 2020-02-01..2026-02-01 (docs/flat_day_repair.md)1× · 1 Feb 2020

Bulk & block deals

DateWhoBought / soldSharesPrice
29 May 2026INTEGRATED CORE STRATEGIES (ASIA) PTE. LTD.BUY1,27,80,494₹245.46

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.