2 listed companies earned ₹20,760 crore from railway building and rolling stock in FY25, +6.2% a year over 5 years. Rail Vikas Nigam Ltd earned the most, 96.0% of it. Rail Vikas Nigam Ltd earned the most on each rupee of sales: 10.5%.
Share
Listed companies' sales, FY25
₹20,760 Cr
+6.2% a year over 5 years
Largest seller
96.0%
Rail Vikas Nigam Ltd
Best margin
10.5%
Rail Vikas Nigam Ltd
Fastest growing, 3 years
-1.5%
Rail Vikas Nigam Ltd
Who sells the most
Share of the listed companies' sales, FY25
Rail Vikas Nigam Ltd₹19,923 Cr · 100% of its sales
96.0%
Escorts Kubota Ltd₹837 Cr (estimate) · 8% of its sales
4.0%
Rail Vikas Nigam Ltd had 96.0% of the listed companies' revenue from railway building and rolling stock here, 23.8 times as much as Escorts Kubota Ltd, the next largest.
From each company's own sales figures for this kind of product (its reported segment, or its whole sales where that is all it sells). Private makers are not counted, so this is the split among listed companies, not the whole market. An estimate is the share of turnover the company gives this product line in its sustainability report, times its own sales for the year, where its segments do not split it out.
How the sales have grown, and who sold them
Revenue from railway building and rolling stock each financial year in ₹ crore (L = lakh crore), the change on the year before above each column
Rail Vikas Nigam LtdEscorts Kubota Ltd
The listed companies here earned ₹20,412 Cr from railway building and rolling stock in FY26. Counting only the companies with figures in both years, sales went from ₹10,435 Cr in FY19 to ₹20,412 Cr, 2.0 times as much. The biggest rise was in FY20 (+42%) and the weakest year FY25 (-14%). Over three years Rail Vikas Nigam Ltd grew fastest, -1.5% a year. Some companies are counted only from a later year (Escorts Kubota Ltd from FY23).
Counted from the first year their figures for this are available: Escorts Kubota Ltd from FY23. A jump in that year is partly that.
Who earns the most on each rupee
Operating profit as a share of revenue from railway building and rolling stock, each financial year
Rail Vikas Nigam Ltd
Operating profit before interest and tax, as a share of revenue from railway building and rolling stock. Rail Vikas Nigam Ltd earned 7.4% on its sales in FY26, against 8.7% in FY17; its best year was FY25 at 10.5%.
Sells in 28 states and 71 countries; exports 5.54% of turnover
₹837 Cr
estimate
-25.2%
—
—
—
—
—
21.3
19.5%
-26.1%
Brands are read from each company's filings and checked against a public source. Growth is the yearly rate of its revenue from railway building and rolling stock. Margin is the operating profit (before interest and tax) the company reports on them, as a share of those sales; profit share is its part of all the listed companies' profit on them; return on assets is that profit against the assets it reports for them. A company with no other business is measured on its whole accounts. Where a company's segments include sales between its own businesses (a bank's treasury lending to its retail arm), each segment is scaled down in proportion so that together they match what the company earns outside itself; companies report those internal sales only as a total. Not a recommendation to buy or sell.
Also sold by
These companies report this together with other businesses, so their figures are not counted above
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<a href="https://app.valarth.in/brands/railways"><img src="https://app.valarth.in/brands/railways/card.png" alt="Who builds India's railways: the listed companies' shares, by Valarth" width="600" height="315" loading="lazy"></a>
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Questions people ask
Who builds India's railways?
2 listed companies report their revenue from railway building and rolling stock: Rail Vikas Nigam Ltd (RVNL), Escorts Kubota Ltd (ESCORTS). 2 more sell them but report them together with other products.
Which listed company earns the most from railway building and rolling stock in India?
Rail Vikas Nigam Ltd, with revenue from railway building and rolling stock of ₹19,923 crore in FY25: 96.0% of the listed companies' total here.
How much do listed companies earn from railway building and rolling stock?
The listed companies here earned ₹20,760 crore from railway building and rolling stock in FY25, +6.2% a year over 5 years. Private makers are not included.
Which listed company makes the most profit from railway building and rolling stock?
Rail Vikas Nigam Ltd: its operating profit was 10.5% of its revenue from railway building and rolling stock in FY25.
