RailTel was incorporated in 2000, with the objective of creating nationwide broadband and VPN services, telecom, and multimedia network, to modernize the train control operation and safety system of Indian Railways. It is a"Navratna"PSU of the Government of India. At present, RailTel's network passes through around 6,000 stations across the country, covering all major commercial centers.[1]
OverviewIt is an ICT provider and is one of the largest neutral telecom infrastructure providers in India owning a Pan-India optic fiber cable network (OFC), which can serve up to 70% of the country’s population.[1]It’sRailWirebroadband service is ranked as the13th largest broadband providerwith over 5.8 lakhs subscribers that is the 4th largest in subscriber count in rural areas of India. The company was granted the Navratna status in August 2024.[2][3]It has executed critical projects of national importance such as BharatNet, National Knowledge Network (NKN), railway signaling, etc.[4]
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Railtel Corpn. | 371.00 | 36.81 | 11906.81 | 0.77 | 76.07 | 5.40 | 951.36 | 12.79 | 21.84 | 3771.07 | 15.14 | 323.44 | 87.37 | 5.64 | 6.84 | 0.03 |
| 2. | Route Mobile | 695.15 | 14.92 | 4379.28 | 1.58 | -18.83 | -12.82 | 1119.42 | 0.54 | 17.74 | 4529.04 | 10.63 | 293.49 | 84.32 | 1.73 | 9.55 | 0.01 |
| 3. | Megasoft | 203.05 | 10.86 | 1497.90 | 0.00 | 0.56 | 103.93 | 0.00 | – | 8.74 | 0.00 | – | 137.89 | 0.56 | 5.34 | -8.20 | 0.01 |
| 4. | STL Networks | 22.26 | – | 1086.11 | 0.00 | -19.29 | -481.98 | 230.79 | -35.27 | – | 1179.72 | 6.26 | -31.95 | -19.29 | 1.26 | – | 0.96 |
| 5. | GTL | 7.96 | – | 125.21 | 0.00 | -39.47 | -411.88 | 55.40 | -20.73 | – | 232.06 | 0.84 | -54.13 | -29.13 | – | -5.09 | – |
| 6. | Steelman Telecom | 94.00 | – | 90.96 | 0.00 | -8.97 | 18.08 | 116.82 | 15.09 | -8.61 | 246.26 | 2.16 | -0.80 | -2.81 | 2.83 | -6.87 | 2.74 |
| 7. | Nettlinx | 18.20 | 8.22 | 44.00 | 0.00 | -5.28 | -225.86 | 5.33 | -26.58 | 19.53 | 29.20 | 10.07 | 5.35 | -0.73 | 0.74 | 11.40 | 0.21 |
| – | Median: 5 Co. | 203.05 | 14.92 | 1497.9 | 0.0 | -18.83 | -12.82 | 230.79 | -10.1 | 17.74 | 1179.72 | 8.45 | 137.89 | 0.56 | 3.54 | 0.88 | 0.02 |
Standalone figures in ₹ crores
| Dec 2022 | Dec 2023 | Dec 2024 | Jun 2023 | Jun 2024 | Jun 2025 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 454 | 668 | 768 | 468 | 558 | 744 | 697 | 833 | 1,308 | 429 | 599 | 843 | 951 |
Expenses | 380 | 539 | 646 | 377 | 455 | 628 | 600 | 716 | 1,129 | 328 | 472 | 714 | 797 |
Operating Profit | 74 | 130 | 121 | 90 | 103 | 116 | 98 | 117 | 180 | 100 | 127 | 129 | 154 |
Other Income | 8 | -4 | 12 | -1 | 2 | 18 | 46 | 31 | 32 | 11 | 2 | 5 | -2 |
Profit before tax | 43 | 84 | 90 | 51 | 67 | 89 | 102 | 102 | 151 | 74 | 90 | 94 | 105 |
Tax % | 26% | 26% | 27% | 25% | 27% | 26% | 26% | 24% | 25% | 25% | 25% | 23% | 28% |
Net Profit | 32 | 62 | 65 | 38 | 49 | 66 | 75 | 78 | 113 | 55 | 68 | 73 | 76 |
EPS in Rs | 1.00 | 1.94 | 2.03 | 1.20 | 1.52 | 2.06 | 2.34 | 2.42 | 3.53 | 1.72 | 2.12 | 2.26 | 2.37 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 453 | 482 | 572 | 851 | 984 | 986 | 1,081 | 1,337 | 1,522 | 1,957 | 2,568 | 3,478 | 3,771 |
Expenses | 284 | 298 | 367 | 595 | 710 | 685 | 747 | 1,010 | 1,154 | 1,578 | 2,103 | 2,943 | 3,200 |
Operating Profit | 169 | 184 | 206 | 256 | 273 | 301 | 333 | 328 | 368 | 379 | 464 | 535 | 571 |
Other Income | 84 | 72 | 70 | 52 | 41 | -6 | -18 | 28 | 76 | 35 | 28 | 52 | 61 |
Interest | 0 | 0 | 1 | 1 | 2 | 5 | 4 | 2 | 4 | 6 | 6 | 4 | 3 |
Depreciation | 85 | 90 | 81 | 116 | 119 | 112 | 131 | 159 | 160 | 154 | 158 | 180 | 194 |
Profit before tax | 169 | 166 | 194 | 191 | 194 | 179 | 181 | 195 | 280 | 254 | 328 | 402 | 435 |
Net Profit | 138 | 121 | 102 | 128 | 156 | 110 | 138 | 140 | 208 | 188 | 246 | 300 | 321 |
EPS in Rs | 4.30 | 3.77 | 3.18 | 3.99 | 4.87 | 3.42 | 4.31 | 4.37 | 6.49 | 5.87 | 7.67 | 9.34 | 9.99 |
Dividend Payout % | 12% | 14% | 22% | 40% | 12% | 58% | 49% | 50% | 37% | 43% | 37% | 31% | – |
Standalone figures in ₹ crores
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 321 | 321 | 321 | 321 | 321 | 321 | 321 | 321 | 321 | 321 | 321 |
Reserves | 763 | 838 | 928 | 963 | 1,040 | 1,082 | 1,195 | 1,328 | 1,506 | 1,679 | 1,792 |
Borrowings | 0 | 0 | 0 | 1 | 43 | 0 | 32 | 42 | 46 | 45 | 71 |
Other Liabilities | 1,126 | 1,155 | 1,010 | 870 | 852 | 1,213 | 1,212 | 1,658 | 2,177 | 3,117 | 2,875 |
Total Liabilities | 2,211 | 2,315 | 2,259 | 2,156 | 2,256 | 2,616 | 2,759 | 3,349 | 4,050 | 5,161 | 5,058 |
Fixed Assets | 711 | 694 | 688 | 790 | 789 | 760 | 775 | 821 | 913 | 1,081 | 1,200 |
Gross Block | 1,467.63 | 1,531.00 | 1,643.14 | 1,856.18 | 1,923.52 | 1,980.62 | 2,142.77 | 2,331.08 | 2,569.34 | 2,898.42 | – |
Accumulated Depreciation | 757.10 | 837.09 | 955.15 | 1,066.32 | 1,134.33 | 1,220.84 | 1,367.92 | 1,509.77 | 1,656.01 | 1,817.56 | – |
CWIP | 262 | 360 | 364 | 300 | 253 | 215 | 164 | 157 | 130 | 124 | 101 |
Investments | 10 | 0 | 10 | 17 | 10 | 10 | 40 | 40 | 90 | 39 | 50 |
Other Assets | 1,228 | 1,261 | 1,197 | 1,049 | 1,204 | 1,632 | 1,781 | 2,330 | 2,916 | 3,917 | 3,706 |
Total Assets | 2,211 | 2,315 | 2,259 | 2,156 | 2,256 | 2,616 | 2,759 | 3,349 | 4,050 | 5,161 | 5,058 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2014 | Mar 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | – | – | – | – | 154 | 374 | 258 | 284 | 556 | 255 | – | – |
Cash from Investing Activity | – | – | – | – | -48 | -135 | -213 | -203 | -419 | -82 | – | – |
Cash from Financing Activity | – | – | – | – | -62 | -110 | -104 | -79 | -77 | -113 | – | – |
Net Cash Flow | – | – | – | – | 43 | 130 | -59 | 3 | 60 | 60 | – | – |
Standalone Figures in ₹ Crores / Yearly
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2014 | Mar 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 164 | 160 | 173 | 169 | 160 | 208 | 160 | 195 | 180 | 166 | – | – |
Inventory Days | – | – | – | – | – | – | – | – | – | – | – | – |
Days Payable | – | – | – | – | – | – | – | – | – | – | – | – |
Cash Conversion Cycle | 164 | 160 | 173 | 169 | 160 | 208 | 160 | 195 | 180 | 166 | – | – |
Working Capital Days | -66 | -91 | 1 | -17 | 15 | -6 | 7 | 50 | -21 | 30 | – | – |
ROCE % | – | 17% | 16% | 17% | 17% | 14% | 16% | 16% | 20% | 22% | – | – |
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Stock Analysis
RailTel Corporation of India Ltd. is a PSU under the Ministry of Railways, focused on building a nationwide telecom and multimedia network. It provides broadband and VPN services, modernizes railway operations, and executes critical national ICT projects.
Leveraging its extensive optic fiber network for government projects like BharatNet and NKN, coupled with increasing momentum in railway sector projects (signalling, communication). Expansion of data center capacities and exploration of international opportunities also present growth avenues.
Reported order book of ₹7,197 Cr as of Q1 FY26, with new orders of ₹721 Cr secured in that quarter. The recent order from Tripura for ₹12.28 Cr adds to this significant backlog.
Cancellation of major work orders from Bihar Education Project Council (BEPC) for smart classrooms (₹257.50 Cr, ₹262.14 Cr), teaching learning material (₹89.91 Cr), and ICT labs (₹44.22 Cr, ₹59.77 Cr). Penalties of ₹10.85 Lakhs from NSE and BSE for board composition lapses due to delays in government nominations.
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