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Railtel Corporation of India Ltd

RAILTEL
NSE
326.64
1.70%
Last Updated:
29 Apr '26, 4:00 PM
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Railtel Corporation of India Ltd

RAILTEL
NSE
326.64
1.70%
29 Apr '26, 4:00 PM
Company Overview
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6M
Price
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Quick Ratios

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Mkt Cap
Market Capitalization
10,483Cr
Close
Close Price
326.64
Industry
Industry
Railways
PE
Price To Earnings
32.99
PS
Price To Sales
2.68
Revenue
Revenue
3,917Cr
Rev Gr TTM
Revenue Growth TTM
30.48%
PAT Gr TTM
PAT Growth TTM
20.51%
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RAILTEL
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Quarterly Results

Upcoming Results on
30 Apr 2026
Consolidated
Standalone
Numbers
Percentage
QuarterMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Revenue
RevenueCr
6974685996688335588437681,308744951913
Growth YoY
Revenue Growth YoY%
53.226.239.847.119.419.440.814.857.133.312.819.0
Expenses
ExpensesCr
6003774725397164557146461,129628797780
Operating Profit
Operating ProfitCr
9890127130117103129121180116154133
OPM
OPM%
14.019.321.319.414.018.515.315.813.715.616.214.6
Other Income
Other IncomeCr
46-12-43125123218-21
Interest Expense
Interest ExpenseCr
111041111111
Depreciation
DepreciationCr
413738414338404360444749
PBT
PBTCr
1025190841026794901518910585
Tax
TaxCr
271322222418212538232923
PAT
PATCr
7538686278497365113667662
Growth YoY
PAT Growth YoY%
39.053.123.494.53.026.86.64.746.335.84.7-4.1
NPM
NPM%
10.88.211.49.39.38.78.68.58.78.98.06.8
EPS
EPS
2.31.22.11.92.41.52.32.03.52.12.41.9

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Revenue
RevenueCr
5728489849861,0811,3371,5221,9572,5683,4783,917
Growth
Revenue Growth%
48.216.00.29.623.813.828.631.235.412.6
Expenses
ExpensesCr
3665907116857471,0101,1551,5792,1042,9443,334
Operating Profit
Operating ProfitCr
206258273301333327367378464533583
OPM
OPM%
36.030.427.830.530.824.524.119.318.115.314.9
Other Income
Other IncomeCr
695241-6-18287635285250
Interest Expense
Interest ExpenseCr
11253235633
Depreciation
DepreciationCr
81116119112131159160154158180199
PBT
PBTCr
194192194179181195280254328402431
Tax
TaxCr
926438694354716682102113
PAT
PATCr
102129156110138140208188246300318
Growth
PAT Growth%
26.321.2-29.726.01.548.4-9.630.821.86.1
NPM
NPM%
17.815.215.911.112.810.513.79.69.68.68.1
EPS
EPS
3.24.04.93.44.34.46.55.97.79.39.9

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
Equity CapitalCr
321321321321321321321321321321321
Reserves
ReservesCr
7638369289631,0401,0821,1951,3281,5061,6791,792
Current Liabilities
Current LiabilitiesCr
5927856477257511,0451,1111,5222,0942,9402,613
Non Current Liabilities
Non Current LiabilitiesCr
534369362147144168132178128222332
Total Liabilities
Total LiabilitiesCr
2,2112,3122,2592,1562,2562,6162,7593,3494,0505,1615,058
Current Assets
Current AssetsCr
1,0481,1751,0941,0219641,5441,4452,1052,5243,7863,585
Non Current Assets
Non Current AssetsCr
1,1621,1361,1651,1351,2921,0731,3141,2431,5251,3751,473
Total Assets
Total AssetsCr
2,2112,3122,2592,1562,2562,6162,7593,3494,0505,1615,058

Cash Flow

Consolidated
Standalone
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating Cash Flow
Operating Cash FlowCr
154254-1932154374258284556255
Investing Cash Flow
Investing Cash FlowCr
-240-157-7844-48-135-213-203-419-82
Financing Cash Flow
Financing Cash FlowCr
-26-54-62-77-62-110-104-79-77-113
Net Cash Flow
Net Cash FlowCr
-11344-159-143130-5936060
Free Cash Flow
Free Cash FlowCr
-14357-136-5392294258107347-70
CFO To PAT
CFO To PAT%
151.2197.4-12.129.4111.0266.6124.0150.8226.085.2
CFO To EBITDA
CFO To EBITDA%
74.898.6-6.910.846.1114.470.475.1119.947.9

Ratios

Consolidated
Standalone
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
000004,0702,6993,24511,6739,715
Price To Earnings
Price To Earnings
0.00.00.00.00.029.013.017.247.432.4
Price To Sales
Price To Sales
0.00.00.00.00.03.01.81.74.52.8
Price To Book
Price To Book
0.00.00.00.00.02.91.82.06.44.9
EV To EBITDA
EV To EBITDA
-2.7-2.3-1.6-1.1-0.410.86.78.024.217.3
Profitability Ratios
Profitability Ratios
GPM
GPM%
100.0100.0100.0100.0100.0100.0100.0100.0100.0100.0
OPM
OPM%
36.030.427.830.530.824.524.119.318.115.3
NPM
NPM%
17.815.215.911.112.810.513.79.69.68.6
ROCE
ROCE%
18.016.715.614.313.214.018.315.317.819.8
ROE
ROE%
9.411.112.58.610.210.013.711.413.515.0
ROA
ROA%
4.65.66.95.16.15.47.55.66.15.8
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
### **Overview** RailTel Corporation of India Ltd (RailTel) is a **Navratna Central Public Sector Enterprise (CPSE)** under the **Ministry of Railways, Government of India**, established in 2000. It operates as one of **India’s largest neutral telecom infrastructure providers**, leveraging exclusive right of way along 67,956 km of Indian Railways tracks to build a robust, secure, and scalable digital infrastructure across the country. The company has evolved from a telecom backbone provider for Indian Railways into a **leading ICT and system integrator**, serving public and private sector clients in railways, defense, healthcare, smart cities, banking, IT, mining, and more. RailTel operates Pan-India with **no international revenue** as of FY2024, but is now **strategically expanding into international markets**, including Africa, South Asia, and the Caribbean. --- ### **Core Infrastructure & Network** - **Optical Fiber Network**: - Over **63,000 route kilometers** of high-capacity optical fiber along railway corridors. - **21,000+ km** of urban access networks. - Reaches **7,000+ railway stations** and connects over **758 educational and research institutions**, including IITs, IIMs, and AIIMS. - **Network Architecture**: - Based on **SDH, PTN, DWDM, and IP-MPLS** technologies. - Supports **scalable bandwidth from 2 Mbps to 800 Gbps**. - Pan-India **IP-MPLS network** with a **four-tier architecture** and 1+1 redundancy at key nodes. - **High-Availability Backbone**: 90 locations upgraded to **800G capacity**. - **Points of Presence (PoPs)**: - Over **11,000 PoPs**, including 6,108 at railway stations (~8–10 km apart), enabling mission-critical connectivity. - **Critical Infrastructure Designation**: - Network designated as **Critical Information Infrastructure (CII)** by **NCIIPC**. - Equipment from land-border-sharing countries is **excluded** to ensure cybersecurity. --- ### **Data Centers & Cloud Services** RailTel is a **MeitY-empaneled cloud service provider** with advanced data center capabilities: - **Tier-III Certified Data Centers** in: - **Secunderabad** (2.0 MW) – First in Indian Railways and 8th in India certified by Uptime Institute. - **Gurugram** (1.5 MW) - **Service Level Agreements (SLA)**: - 99.983% uptime for co-location services. - 99.95% uptime for cloud services. - **RailCloud**: - Proprietary **IaaS, PaaS, and hybrid cloud platform** serving government and enterprise clients. - **Expansion Plans**: - **102 Edge Data Centers (EDCs)** being developed across Tier-II and Tier-III cities in partnership with private players. - A **10 MW state-of-the-art data center** being developed in **Noida** through a **Public-Private Partnership (PPP)** model. - Earlier plans for a **30 MW Noida data center** with a private partner (INR 1,500 crore investment opportunity). - **Revenue & Margins**: - Data center business generates **double-digit average margins**. - Estimated **₹50–₹70 crore annual revenue** from existing facilities. - Government agencies are primary clients, with potential for private sector expansion. --- ### **Telecom & Broadband Services** #### **RailWire – Retail Broadband** - **Subscriber Base**: - **575,000+ subscribers** (as of Jul 2025), making it the **13th largest broadband ISP in India** and **4th largest in rural areas**. - Grew from 465,000 in May 2022 to over 575,000 in 2025. - **ARPU**: - Stable at **₹490–₹500**, indicating strong pricing power and monetization. - **Revenue (FY2024–25)**: **₹341 crore**. - **Business Model**: - Operates on **PPP model** with **11,000+ local cable operators and MSPs**. - Targets **rural and semi-urban markets**, covering **8,080 Gram Panchayats** in Gujarat under a revenue-sharing model. - **Value-Added Services**: - **Bundled OTT plans** in collaboration with **Playbox TV** (over **67,000 customers**) and **Prasar Bharati’s WAVE** platform. - Partnership with **Dish TV** for **DTH + broadband bundles**. - **Quad Play Services** (FTTH, IPTV, OTT, digital) in Gujarat. - **Wi-Fi Network**: - One of the **world’s largest public Wi-Fi networks** at **6,108 railway stations**. - Average **49 million unique monthly logins**. - Monetization via **digital advertising, infotainment, title sponsorships, and app-based services (PIPOnet)** with **₹14 crore/year guaranteed revenue** from a partner consortium. --- ### **System Integration & Major Projects** RailTel has transformed into a **trusted digital transformation partner** for government agencies and PSUs: #### **Key Sectors & Projects** | Sector | Notable Projects | |-------|------------------| | **Railways** | - Ground infrastructure for **4G LTE-R** over **523 km** in Secunderabad Division.<br>- **Electronic Interlocking (EI)** in Northern, East Central, South Eastern Railways.<br>- **Automatic Block Signaling (ABS)** across SC Railway.<br>- Selected for **Kavach (Train Collision Avoidance)** project in partnership with **Quadrant Future Tek** (4G-compliant prototype under PoC). | | **Smart Cities** | - **Integrated Command & Control Centre (ICCC)** for **Puducherry Smart City**.<br>- **Safe City Projects** with Delhi Police, Tamil Nadu, Punjab, Uttar Pradesh, and J&K (total pipeline > ₹1,000 crore). | | **Healthcare** | - **Hospital Management Information System (HMIS)** deployed in **700+ railway hospitals** and **Brihanmumbai Municipal Corporation (BMC)**.<br>- Integrated with **Ayushman Bharat Digital Mission (ABDM)**.<br>- Processing **1 crore+ prescriptions** in 18 months. | | **Defense** | - Secure **MPLS-VPN networks** for Air Force, DRDO, Indian Coast Guard.<br>- Orders worth **₹524 crore (Jan 2021–Apr 2022)**.<br>- Network preferred for high-security due to **non-inclusion of border-country equipment**. | | **Banking & Finance** | - 4G LTE for **15,000 SBI ATMs**.<br>- Secure connectivity for **SBI, CBI, Federal Bank, Karur Vysya** (2,400+ branches). | | **Education & Research** | - **National Knowledge Network (NKN)** connecting IITs, IIMs, agricultural universities.<br>- e-Office in **236 railway units**, now expanding to state governments. | | **Coal & Mining** | - **3,000+ secure MPLS links** for Coal India & subsidiaries.<br>- Smart metering, RFID weighbridge, fleet tracking projects. | #### **Signaling & Modernization** - RailTel is positioning itself as a **key player in Indian Railways’ signaling modernization**. - **Kavach** is a **₹1 lakh crore 5-year national initiative**; RailTel aims for **₹4,000–5,000 crore share** over 3–4 years. - Partnering with **Quadrant** to submit **4G LTE-compliant Kavach tenders**, expecting issuance in 2025. - Also implementing **Integrated Tunnel Communication Systems** (e.g., Sivok-Rangpo, Katra-Banihal) using first-of-its-kind tech. --- ### **Strategic Partnerships & Innovation** - **Microsoft AI Partnership (Feb 2025)**: - Five-year collaboration to co-develop **AI solutions**. - Establish **AI Center of Excellence**. - Aim: Become **AI-first organization** and **leading public sector system integrator**. - **IITM Pravartak**: Training in **4G/5G, cybersecurity, networking**. - **University of Birmingham**: Joint R&D on **Digital Twin for railway operations**. - **IIIT-Delhi, AIIMS, CDOT, NIC, CDAC**: Co-developing solutions in **healthcare, cybersecurity, smart cities**. - **Int’l Expansion**: - **Jamaica**: Installed **electronic cricket scoreboards** at Sabina Park (GoI-funded). - **Ethiopia**: Under consideration for **data center project**. - **South Africa**: Tripartite **MoU with InoviTel & Tsiko Africa** for telecom, IT, and railway projects. - Exploring **Vietnam Railways** collaboration. --- ### **Financials & Order Book** - **Revenue (FY2023–24)**: **₹1,340.23 crore**. - Other Projects: ₹1,039.98 crore - Railway Project Works: ₹263.70 crore - **FY2024–25 New Orders**: **₹3,146.6 crore**. - **Order Book (Jul 2025)**: **₹7,288 crore+** — reflects strong project pipeline. - **Opening Order Book FY2025–26**: **~₹6,000 crore** — ensures revenue visibility. - **EBITDA Margin Guidance**: **25–30%** on expanding services. --- ### **Capital Expenditure** - **FY2025–26 Capex**: **₹241 crore** — for network upgrades, data centers, automation. - Investments Focus: - **Backbone and Access Network Upgrades** (100G → 800G). - **102 Edge Data Centers** and **Noida Hyperscale DC**. - **Network Operations Centers (NOCs)** and **Security Operations Centre (SOC)**. --- ### **Corporate Structure & Subsidiary** - **RailTel Engineering Limited (REL)**: - Subsidiary established in **Apr 2023**. - Focused exclusively on **ICT system integration** projects. - Serves as a **separate profit center** for financial transparency. --- ### **Growth Strategy** RailTel is implementing a **three-pronged strategy**: 1. **Optimize Product Mix**: Bundled OTT, DTH, smart city solutions. 2. **Expand Network Footprint**: 102 EDCs, 5,000+ towers, international markets. 3. **Upgrade to High-Capacity Infrastructure**: 800G backbone, AI/ML, IoT, cloud. - **Focus Sectors**: Government, defense, healthcare, BFSI, smart cities, education. - **Delivery Model**: Leverages **partner ecosystems** to scale with lower risk. - **Future Vision**: To become the **preferred digital infrastructure partner for India’s knowledge economy**. --- ### **Recognition & Standing** - **Navratna CPSE** (upgraded from Mini Ratna) – reflects **autonomy, profitability, and performance**. - **Debt-free, dividend-paying** telecom PSU. - One of the **few government companies** with: - **Tier-III certified data centers** - **MeitY-empanelled cloud (RailCloud)** - **In-house Security Operations Centre (SOC)** - **ISP, NLD, ILD, and IP-1 licenses**