Quarter Ended: March 2026
RailTel Corporation of India Ltd – Q4 FY26 Results
NSE
railtel
BSE
543265
Sharp QoQ rebound in revenue and profitability; operating leverage visible
key financial highlights
- Revenue from Operations:
- Total Income (Q4 FY26): ₹1,67,969 Lakhs
- QoQ Change: +81.79%
- YoY Change: +26.43%
- Previous Quarter (Q3 FY26): ₹92,404 Lakhs
- Previous Year (Q4 FY25): ₹1,32,868 Lakhs
- Total Income (Q4 FY26): ₹1,67,969 Lakhs
- Profit After Tax (PAT):
- PAT (Q4 FY26): ₹14,175 Lakhs
- QoQ Change: +127.16%
- YoY Change: +24.93%
- Previous Quarter (Q3 FY26): ₹6,240 Lakhs
- Previous Year (Q4 FY25): ₹11,345 Lakhs
- PAT (Q4 FY26): ₹14,175 Lakhs
- QoQ Performance
- Revenue Trend: Strong Increase
- Profit Trend: Strong Increase
Margin Analysis
Drivers:
- Operating leverage due to higher execution in project segment
- Controlled employee & finance cost
- Scale benefits kicking in
Insight:
- Margins expanded significantly QoQ → execution-driven quarter
Segment performance
Revenue Contribution (Q4 FY26)
- Telecom Services: ₹44,886 Lakhs
- Project Work Services: ₹1,22,000 Lakhs
Observation
- Project segment contributes ~73%+ revenue
- Telecom segment stable but smaller contributor
Segment insight
Key Insight:
- RailTel is primarily a project execution + telecom infra hybrid company
Business Nature:
- Government-backed contracts
- Lumpy revenue recognition
- Execution-driven earnings
Earning quality check
Drivers:
- Core operational revenue driven
- Minimal exceptional dependency
- Strong cash conversion from operations
Interpretations:
- Earnings quality is good, supported by real cash flows
balance sheet Analysis
- Total Assets: ₹5,830 Cr
- Total Equity: ₹2,261 Cr
- Total Liabilities: ₹3,569 Cr
Insight:
- Strong increase in receivables → project billing cycle
- Moderate leverage
- Government business → lower default risk but slower cash cycles
Cash flow analysis
Operating Cash Flow (FY26): ₹31,645 Lakhs
Investing Cash Flow: (₹7,695 Lakhs)
Financing Cash Flow: (₹15,008 Lakhs)
Insight:
- Strong operating cash generation
- Dividend payout + lease liabilities impacting financing outflow
- Cash balance increased to ₹39,746 Lakhs
key risks
- Revenue lumpiness (project-based model)
- Dependence on government orders
- Working capital stretch (high receivables)
- Execution delays risk
management strategy signals
Focus Area:
- Expansion in telecom infra
- Increase project execution pipeline
- Leverage digital & railway modernization
Financial metrics table
| Particular | Q4 FY26 | Q.O.Q | Y.O.Y |
|---|---|---|---|
| Total Income | ₹1,679.69 Cr | +81.79% | +26.43% |
| PBT | ₹189.97 Cr | +123.49% | +25.65% |
| PAT | ₹141.75 Cr | +127.16% | +24.93% |
RailTel delivered a strong comeback quarter, with sharp QoQ recovery driven by project execution. The business remains structurally strong, but investors must factor in lumpy revenue visibility and working capital cycles
Official Exchange Filing: RailTel Corporation of India Ltd
Quarterly Performance Context
COST OF OPERATIONS AS % OF REVENUE
89%
NET PROFIT AS % OF REVENUE
8%
FISCAL YEAR
2025-2026
AUDIT STATUS
REVIEWED