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RVNL signed an MoU with DMIA to collaborate on ASEAN railway projects, focusing on a manufacturing base in Malaysia. Despite revenue decline, RVNL’s order book is strong at ₹83,221 crore. RVNL share price closed at ₹563.95 on NSE.
State-run Rail Vikas Nigam Limited (RVNL) has signed a Memorandum of Understanding (MoU) with Malaysia’s M/s Dhaya Maju Infrastructure (Asia) Sdn Berhad (DMIA), marking a strategic partnership aimed at expanding their footprint in the ASEAN railway infrastructure and services market.
The MoU sets the stage for potential collaboration between RVNL and DMIA in the ASEAN region and other international markets. The partnership aims to leverage both companies' strengths to tap into the growing demand for railway infrastructure across Southeast Asia.
A key element of the agreement is the focus on establishing a manufacturing base in Malaysia for railway coaches and related products. This manufacturing hub is intended to cater to the needs of ASEAN countries, which are increasingly investing in modernising their railway systems.
RVNL disclosed that its order book stood at a robust ₹83,221 crore as of the end of the June quarter, providing the company with project visibility for the next four years. Despite this strong pipeline, RVNL reported a revenue decline for the quarter.
The management attributed this dip to geopolitical issues in the Maldives, which have affected ongoing projects. Additionally, the company has pending claims of approximately ₹250 crore from Metro authorities in Madhya Pradesh, which also contributed to the revenue shortfall.
Despite the current challenges, RVNL's management remains optimistic about a recovery in the topline over the next three quarters of the current financial year. The company is focused on executing its order book efficiently and expects the resolution of pending claims to positively impact future revenues.
RVNL's share price closed at ₹563.95 on the NSE in the previous session, with a modest gain of ₹2.25 or 0.40%. Over the past 12 months, RVNL shares have delivered an impressive return of 352.79%, rising by ₹439.40.
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