RITES Ltd.

NSE: RITES · Civil Construction

52W Range₹175 ₹281

Snapshot

Unlock RITES Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

RITES Limited is a multidisciplinary engineering and consultancy organisation providing comprehensive services in the transport and infrastructure sectors, including railways, highways, and renewable energy. The company operates through consultancy, leasing, export, and turnkey construction segments, serving government and private clients across India and international markets.

Business Model

The company generates revenue through a diversified model encompassing high-margin consultancy services, the leasing and export of railway rolling stock, and the execution of large-scale turnkey infrastructure projects. It leverages its technical expertise to provide end-to-end solutions from feasibility studies and design to construction supervision and operational maintenance.

Growth Outlook

Growth is driven by the expansion of India's railway infrastructure, including station redevelopment and electrification projects, alongside increasing demand for urban transport and renewable energy solutions. The company continues to pursue international opportunities in Asia and Africa to diversify its project portfolio.

Key Risks

  • Project Execution Risk. Delays in large-scale turnkey construction projects due to regulatory hurdles or land acquisition issues could impact profitability.
  • Concentration Risk. A significant portion of revenue is derived from government and public sector undertakings, making the company vulnerable to changes in public infrastructure spending.
  • Geopolitical Risk. Operations in international markets, particularly in Africa and Asia, expose the company to currency fluctuations and political instability.
  • Competitive Intensity. The civil construction and consultancy sector is highly competitive, potentially exerting pressure on margins during the bidding process for new contracts.

Price

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Key Metrics

REVENUE

₹2,415 Cr

TTM · consolidated

+8.9%YoY

NET PROFIT

₹454 Cr

TTM · consolidated

+7.0%YoY

EPS

₹8.53

TTM · consolidated

-11.6%YoY

RETURN ON EQUITY

17.1%

TTM · consolidated

+0.9 ppYoY

RETURN ON CAPITAL EMPLOYED

19.8%

TTM · consolidated

+0.7 ppYoY

P/E

25.7x

Q4 FY26 · consolidated

25.7 vs 15.1x5Y avg

EV/EBITDA

15.0x

Q4 FY26 · consolidated

15.0 vs 14.3x5Y avg

EBITDA MARGIN

27.5%

TTM · consolidated

-0.5 ppYoY

NET PROFIT MARGIN

18.1%

Q4 FY26 · consolidated

-4.9 ppYoY

DEBT TO EQUITY

0.0x

Q4 FY26 · consolidated

+0.00xYoY

Peers · Civil Construction

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
RITES Ltd.RITES
9,10725.7215.048.9%27.5%17.1%19.8%-21.3%
Engineers India Ltd.ENGINERSIN
10,55218.8314.5127.2%22.7%24.8%30.1%-6.1%
Afcons Infrastructure Ltd.AFCONS
10,20224.527.9014.5%8.1%13.5%-32.0%
Cemindia ProjectCEMPRO
9,19346.0623.5910.0%11.8%30.3%47.0%
NCC Ltd.NCC
8,59811.155.74-5.7%9.5%12.0%23.6%-38.4%
G R Infraprojects LimitedGRINFRA
8,1259.656.5613.6%22.8%10.4%13.1%-29.4%

As of Q4 FY26

Financials