View ValuationRITES 将来の成長Future 基準チェック /26RITES利益と収益がそれぞれ年間13.7%と18.1%増加すると予測されています。EPS は年間 増加すると予想されています。自己資本利益率は 3 年後に19.9% 14%なると予測されています。主要情報13.7%収益成長率13.98%EPS成長率Professional Services 収益成長15.5%収益成長率18.1%将来の株主資本利益率19.90%アナリストカバレッジLow最終更新日22 May 2026今後の成長に関する最新情報Price Target Changed • Nov 20Price target decreased by 7.8% to ₹327Down from ₹354, the current price target is an average from 4 analysts. New target price is 19% above last closing price of ₹275. Stock is up 17% over the past year. The company is forecast to post earnings per share of ₹9.20 for next year compared to ₹9.48 last year.Price Target Changed • Oct 10Price target increased by 30% to ₹459Up from ₹354, the current price target is an average from 4 analysts. New target price is 46% above last closing price of ₹314. Stock is up 33% over the past year. The company is forecast to post earnings per share of ₹9.65 for next year compared to ₹9.48 last year.Price Target Changed • Feb 05Price target increased by 43% to ₹694Up from ₹486, the current price target is an average from 4 analysts. New target price is 7.1% below last closing price of ₹747. Stock is up 126% over the past year. The company is forecast to post earnings per share of ₹20.35 for next year compared to ₹22.56 last year.Price Target Changed • Aug 01Price target increased by 14% to ₹417Up from ₹366, the current price target is an average from 5 analysts. New target price is 10% below last closing price of ₹465. Stock is up 74% over the past year. The company is forecast to post earnings per share of ₹23.80 for next year compared to ₹22.56 last year.Price Target Changed • May 22Price target decreased by 7.1% to ₹355Down from ₹382, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of ₹369. Stock is up 46% over the past year. The company is forecast to post earnings per share of ₹23.80 for next year compared to ₹22.56 last year.すべての更新を表示Recent updatesReported Earnings • May 20Full year 2026 earnings: EPS misses analyst expectationsFull year 2026 results: EPS: ₹8.54 (up from ₹8.01 in FY 2025). Revenue: ₹25.2b (up 14% from FY 2025). Net income: ₹4.10b (up 6.6% from FY 2025). Profit margin: 16% (down from 17% in FY 2025). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.6%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.Buy Or Sell Opportunity • May 12Now 22% undervalued after recent price dropOver the last 90 days, the stock has fallen 6.3% to ₹212. The fair value is estimated to be ₹272, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.8% over the last 3 years. Earnings per share has declined by 12%. Revenue is forecast to grow by 50% in 2 years. Earnings are forecast to grow by 30% in the next 2 years.お知らせ • Apr 22RITES Limited to Report Fiscal Year 2026 Results on May 19, 2026RITES Limited announced that they will report fiscal year 2026 results on May 19, 2026Buy Or Sell Opportunity • Feb 12Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 9.7% to ₹223. The fair value is estimated to be ₹282, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.8% over the last 3 years. Earnings per share has declined by 12%. Revenue is forecast to grow by 50% in 2 years. Earnings are forecast to grow by 30% in the next 2 years.Declared Dividend • Feb 06Third quarter dividend of ₹1.90 announcedShareholders will receive a dividend of ₹1.90. Ex-date: 10th February 2026 Payment date: 5th March 2026 Dividend yield will be 3.5%, which is higher than the industry average of 1.1%. Sustainability & Growth Dividend is not adequately covered by earnings (91% earnings payout ratio). However, it is covered by cash flows (89% cash payout ratio). The dividend has increased by an average of 14% per year over the past 8 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 1.6% to bring the payout ratio under control. EPS is expected to grow by 31% over the next 2 years, which is sufficient to bring the dividend into a sustainable range.Reported Earnings • Feb 05Third quarter 2026 earnings released: EPS: ₹2.12 (vs ₹2.08 in 3Q 2025)Third quarter 2026 results: EPS: ₹2.12 (up from ₹2.08 in 3Q 2025). Revenue: ₹6.09b (up 5.7% from 3Q 2025). Net income: ₹1.02b (up 1.9% from 3Q 2025). Profit margin: 17% (in line with 3Q 2025). Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings.お知らせ • Jan 22RITES Limited to Report Q3, 2026 Results on Feb 04, 2026RITES Limited announced that they will report Q3, 2026 results on Feb 04, 2026Declared Dividend • Nov 13Second quarter dividend of ₹2.00 announcedShareholders will receive a dividend of ₹2.00. Ex-date: 14th November 2025 Payment date: 11th December 2025 Dividend yield will be 3.2%, which is higher than the industry average of 1.1%. Sustainability & Growth Dividend is covered by both earnings (53% earnings payout ratio) and cash flows (89% cash payout ratio). The dividend has increased by an average of 16% per year over the past 7 years. However, payments have been volatile during that time. EPS is expected to grow by 49% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Nov 12Second quarter 2026 earnings released: EPS: ₹2.04 (vs ₹1.52 in 2Q 2025)Second quarter 2026 results: EPS: ₹2.04 (up from ₹1.52 in 2Q 2025). Revenue: ₹5.79b (up 7.1% from 2Q 2025). Net income: ₹982.1m (up 35% from 2Q 2025). Profit margin: 17% (up from 14% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings.お知らせ • Oct 31RITES Limited to Report Q2, 2026 Results on Nov 11, 2025RITES Limited announced that they will report Q2, 2026 results on Nov 11, 2025お知らせ • Oct 20RITES Limited Appoints Shri Jayant Kumar as Part Time Government Nominee Director, Effective October 17, 2025RITES Limited informed that Ministry of Railways vide its letter no. 2022/PL/57/10 dated October 17, 2025 has informed that Hon'ble President of India has approved the appointment of Shri Jayant Kumar (DIN: 07179274), EDME (MDP), Railway Board as part time Government Nominee Director on the Board of the Company till he holds the post of EDME (MDP), Railway Board or until further orders, whichever is earlier. Shri Jayant Kumar is presently serving as EDME (MDP), Railway Board. He is holding a Bachelor's in Mechanical Engineering and belongs to Indian Railways Service of Mechanical Engineers (IRSME) of 1994 batch and has more than 25 years of rich & varied experience working with the Indian Railways and Govt. of India. Date of appointment is October 17, 2025.Buy Or Sell Opportunity • Oct 13Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 9.8% to ₹252. The fair value is estimated to be ₹318, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.9% over the last 3 years. Earnings per share has declined by 15%. Revenue is forecast to grow by 52% in 2 years. Earnings are forecast to grow by 33% in the next 2 years.Buy Or Sell Opportunity • Sep 27Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 11% to ₹249. The fair value is estimated to be ₹316, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.9% over the last 3 years. Earnings per share has declined by 15%. Revenue is forecast to grow by 52% in 2 years. Earnings are forecast to grow by 33% in the next 2 years.お知らせ • Sep 23RITES Limited Appoints Rajbir Sharma as Independent Director, Effective September 23, 2025RITES Limited at its Annual General Meeting held on September 23, 2025, approved to appoint Shri Rajbir Sharma as an Independent Director of the Company.Declared Dividend • Sep 06Dividend of ₹2.65 announcedShareholders will receive a dividend of ₹2.65. Ex-date: 17th September 2025 Payment date: 23rd October 2025 Dividend yield will be 2.9%, which is higher than the industry average of 1.1%. Sustainability & Growth Dividend is not adequately covered by earnings (95% earnings payout ratio). However, it is covered by cash flows (72% cash payout ratio). The dividend has increased by an average of 16% per year over the past 7 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 5.0% to bring the payout ratio under control. EPS is expected to grow by 52% over the next 3 years, which is sufficient to bring the dividend into a sustainable range.Buy Or Sell Opportunity • Aug 25Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 8.8% to ₹252. The fair value is estimated to be ₹317, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.9% over the last 3 years. Earnings per share has declined by 15%. Revenue is forecast to grow by 52% in 2 years. Earnings are forecast to grow by 33% in the next 2 years.お知らせ • Aug 21RITES Limited, Annual General Meeting, Sep 23, 2025RITES Limited, Annual General Meeting, Sep 23, 2025, at 11:00 Indian Standard Time.Reported Earnings • Aug 07First quarter 2026 earnings released: EPS: ₹1.67 (vs ₹1.65 in 1Q 2025)First quarter 2026 results: EPS: ₹1.67 (up from ₹1.65 in 1Q 2025). Revenue: ₹4.90b (flat on 1Q 2025). Net income: ₹801.0m (up 1.4% from 1Q 2025). Profit margin: 16% (in line with 1Q 2025). Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings.お知らせ • Jul 21RITES Limited to Report Q1, 2026 Results on Aug 06, 2025RITES Limited announced that they will report Q1, 2026 results on Aug 06, 2025New Risk • May 20New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (94% payout ratio). Share price has been volatile over the past 3 months (8.4% average weekly change).Reported Earnings • May 15Full year 2025 earnings: EPS exceeds analyst expectationsFull year 2025 results: EPS: ₹8.01 (down from ₹9.48 in FY 2024). Revenue: ₹23.2b (down 5.3% from FY 2024). Net income: ₹3.85b (down 16% from FY 2024). Profit margin: 17% (down from 19% in FY 2024). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 12%. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings.お知らせ • Apr 28RITES Limited to Report Q4, 2025 Results on May 14, 2025RITES Limited announced that they will report Q4, 2025 results on May 14, 2025お知らせ • Apr 21Rites Limited Announces Board and Committee ChangesRITES Limited announced that The resignation tendered by Shri Arun Kumar Singh (DIN:09747776) Director (Projects) of the Company citing personal commitments, has been approved by the Competent Authority w.e.f. May 5, 2025 and communicated to the Company vide letter dated 21 April 2025. Consequently, he shall also cease to be Chairman of Risk Management Committee and Project Investment Committee as well as member of the Audit Committee of the Company w.e.f. May 5, 2025. The letter of resignation received from Shri Arun Kumar Singh is enclosed herewith. Deepak Tripathi (DIN: 10090267) currently serving as Director (Technical) of the Company with the additional charge of the post of Director (Projects) of the Company for a period of 6 months w.e.f. May 5, 2025 or till assumption of charge of the post by the regular incumbent or until further orders whichever is the earliest.Valuation Update With 7 Day Price Move • Mar 24Investor sentiment improves as stock rises 25%After last week's 25% share price gain to ₹255, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 29x in the Professional Services industry in India. Total returns to shareholders of 126% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹325 per share.お知らせ • Mar 01RITES Limited Announces Senior Management ChangesRITES Limited announced that following changes have taken place in the Senior Management of the Company: Shri S. Sridhar, Dy. CVO and Vertical Head (Vigilance) has superannuated effective end of office hours on February 28, 2025 and thereby ceased to be among the Senior Management of the Company. Shri Abhas Kumar, GGM (Vigilance) has been designated as Dy. CVO and Vertical Head (Vigilance) effective March 1, 2025, and is thereby included in the Senior Management of the Company. Shri Abhas Kumar has done M. Tech in Transport Engineering and is a Associate Member of The Institute of Engineers. He has over 37 years of multi- disciplinary professional experience. He has been with RITES Limited since September 1987.お知らせ • Jan 30RITES Limited Announces Executive ChangesRITES Limited informed that following changes have taken place in the Senior Management of the Company: Shri Surendra Singh Kshatriya, GGM (F&A) has been relieved from RITES Limited on January 30, 2025, afternoon to join as Director (Finance) of Mineral Exploration & Consultancy Limited (MECL) and thereby ceased to be among the Senior Management of the Company. Shri Satya Bhushan Samanta, GGM (FE) has been designated as Vertical Head (Finance) with effect from January 30, 2025, afternoon and is thereby included in the Senior Management of the Company. Shri Satya Bhushan Samanta is a qualified Cost and Management Accountant as well as a Chartered Accountant, and he has over 28 years of multi- disciplinary professional experience. He has been with RITES Limited since June 2016. Prior to joining RITES, he was with IREL(India) Limited, Department of Atomic Energy, Government of India and has held various key positions in Finance Department at its Kerala Mineral Division unit.Declared Dividend • Jan 30Third quarter dividend of ₹1.90 announcedShareholders will receive a dividend of ₹1.90. Ex-date: 31st January 2025 Payment date: 27th February 2025 Dividend yield will be 4.3%, which is higher than the industry average of 1.1%. Sustainability & Growth Dividend is not adequately covered by earnings (94% earnings payout ratio) nor is it covered by cash flows (125% cash payout ratio). The dividend has increased by an average of 19% per year over the past 7 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 4.4% to bring the payout ratio under control. EPS is expected to grow by 44% over the next 2 years, which is sufficient to bring the dividend into a sustainable range.Reported Earnings • Jan 29Third quarter 2025 earnings released: EPS: ₹2.08 (vs ₹2.50 in 3Q 2024)Third quarter 2025 results: EPS: ₹2.08 (down from ₹2.50 in 3Q 2024). Revenue: ₹6.14b (down 10% from 3Q 2024). Net income: ₹1.00b (down 17% from 3Q 2024). Profit margin: 16% (down from 18% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings.お知らせ • Jan 28RITES Limited Approves Third Interim Dividend for the Financial Year 2024-25RITES Limited at the Board of Directors meeting held on January 28, 2025 approved declaration of (Third) interim dividend for the Financial Year 2024-25 at the rate of INR 1.90 per share (19.00% of paid-up share capital) of the Company. Further, the record date set for the purpose of payment of (third) interim dividend for Financial Year 2024-25 is February 01, 2025.お知らせ • Jan 22RITES Limited Announces Executive ChangesRITES Limited announced amendments that following changes has taken place in the Senior Management of the Company: Shri M. L. Meena, GGM/Civil & RH (NRPO) transferred to RI Vertical Gurgaon effective January 22, 2025 and thereby ceased to be among the Senior Management of the Company. Shri Anoop Sharma, GGM/Civil is taking over charge as Regional Head/NRPO on transfer of Shri M. L. Meena, GGM/Civil to RI Vertical Gurgaon effective January 22, 2025 and is thereby included in the Senior Management of the Company. Details of Shri Anoop Sharma: He holds a B.E. in Civil Engineering from Kurukshetra University and Diploma in Civil Engineering. With over 27 years of extensive experience, he has specialized in PMC Construction, Supervision and Tendering. His career includes significant tenures at Braithwaite & Co., IRCON International, and RITES, where he contributed in the projects of EMRS schools (18 nos) & NVS schools (5 nos), TURA medical project, Tezu, Jorhat & Shillong airports buildings for north east civil projects in Assam, Mizoram, Manipur, Meghalaya & Tripura having total value of projects more than 1500 crs.お知らせ • Jan 16RITES Limited to Report Q3, 2025 Results on Jan 28, 2025RITES Limited announced that they will report Q3, 2025 results on Jan 28, 2025お知らせ • Jan 13Rites Limited Announces Cessation of Likha Togu as Non-Official Independent DirectorRITES Limited announced that Shri Likha Togu (DIN: 09470640) as Non-Official Independent Director on the Board of the Company has ended on January 13, 2025. List of Board of Directors of RITES Limited as on January 14, 2025 Shri Rahul Mithal Chairman & Managing Director, Shri Arun Kumar Singh Director (Projects), Dr. Deepak Tripathi Director (Technical), Shri Krishna Gopal Agarwal Director (Finance), Shri Sandeep Jain Government Nominee Director, Shri Shailendra Singh Government Nominee Director.お知らせ • Dec 13RITES Limited Announces Management ChangesRITES Limited informed that following changes has taken place in the Senior Management of the Company: Shri Shrirang Dharmaji Kamble, GGM/Civil & WRPO repatriated to Ministry of Railways w.e.f. December 13, 2024 and thereby ceased to be among the Senior Management of the Company. Shri N D Patankar, GGM/Civil is taking over charge as Regional Head/WRPO on repatriation of Shri Shrirang Dharmaji Kamble, GGM/Civil to Ministry of Railways w.e.f. December 13, 2024 and is thereby included in the Senior Management of the Company. Shri N D Patankar holds a B.E. in Civil Engineering from SPCE, Mumbai, and an M. Tech in Construction Engineering and Management from I.I.T Delhi. With over 23 years of extensive experience, he has specialized in infrastructure project planning, implementation, monitoring, procurement, contract management, business development, and revenue generation. His career includes significant tenures at BARC, MMRDA, and RITES, where he contributed to residential, commercial, strategic, and metro rail projects. Notably, he has played a key role in planning and executing various metro lines in Mumbai, such as Line-2A, 2B, 4, and 4A. Before joining RITES, he served as a Class-1 Gazetted Officer at the Bhabha Atomic Research Centre for nearly 20 years.Price Target Changed • Nov 20Price target decreased by 7.8% to ₹327Down from ₹354, the current price target is an average from 4 analysts. New target price is 19% above last closing price of ₹275. Stock is up 17% over the past year. The company is forecast to post earnings per share of ₹9.20 for next year compared to ₹9.48 last year.お知らせ • Nov 08RITES Limited Announces Cessation of DirectorsRITES Limited informed that Hon'ble President of India through Ministry of Railways, Govt. of India order dated November 09, 2021 had appointed Dr. Godawari Mishra and Shri Laxman T. Tapashi as Non-Official Independent Director on the Board of the Company and subsequently appointment was also approved by the shareholders of the Company by passing special resolution through postal ballot. The company informed that the tenure of appointment of Dr. Godawari Mishra and Shri Laxman T. Tapashi as Non-Official Independent Director on the Board of the Company has ended on 8th November, 2024. Consequently, Dr. Godawari Mishra and Shri Laxman T. Tapashi have ceased to be Independent Director of the Company with effect from close of business hours on 8th November, 2024.Declared Dividend • Nov 08Second quarter dividend of ₹1.75 announcedShareholders will receive a dividend of ₹1.75. Ex-date: 14th November 2024 Payment date: 6th December 2024 Dividend yield will be 4.9%, which is higher than the industry average of 1.1%. Sustainability & Growth Dividend is covered by earnings (59% earnings payout ratio) but not covered by cash flows (125% cash payout ratio). The dividend has increased by an average of 23% per year over the past 6 years. However, payments have been volatile during that time. EPS is expected to grow by 119% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Nov 07Second quarter 2025 earnings released: EPS: ₹1.52 (vs ₹2.11 in 2Q 2024)Second quarter 2025 results: EPS: ₹1.52 (down from ₹2.11 in 2Q 2024). Revenue: ₹5.62b (down 3.5% from 2Q 2024). Net income: ₹729.8m (down 28% from 2Q 2024). Profit margin: 13% (down from 17% in 2Q 2024). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings.お知らせ • Nov 01RITES Limited Announces Executive ChangesRITES Limited announced following changes have taken place in the Senior Management of the Company: Shri Anjeev Kumar Jain, Executive Director (Finance) has been relieved from RITES Limited on November 01, 2024, afternoon to join as Director (Finance) of NBCC (India) Limited and thereby ceased to be among the Senior Management of the Company. Shri Surendra Singh Kshatriya, GGM (F&A) has been designated as Vertical Head (Finance) with effect from November 01, 2024, afternoon and is thereby included in the Senior Management of the Company. Shri Surendra Singh Kshatriya is a qualified Chartered Accountant and he has over 29 years of multi-disciplinary professional experience. He joined RITES Limited in August, 2022. Prior to joining RITES, he had a long stint of more than 26 years holding various key positions in Finance Department of Steel Authority of India Limited (SAIL). Shri Surendra Singh Kshatriya, is not related to any other Director/KMP of the Company.お知らせ • Oct 22RITES Limited Announces Resignation of Dineshananda Goswami as Independent DirectorRITES Limited announced that Dr. Dineshananda Goswami, has tendered his resignation as the Independent Director of the Company, with effect from 22nd October, 2024, citing pre-occupation and other personal commitments. Consequently, he shall also cease to be Chairman of the Audit Committee and Risk Management Committee and member of Project Investment Committee of the Company.お知らせ • Oct 17RITES Limited to Report Q2, 2025 Results on Nov 06, 2024RITES Limited announced that they will report Q2, 2025 results on Nov 06, 2024Price Target Changed • Oct 10Price target increased by 30% to ₹459Up from ₹354, the current price target is an average from 4 analysts. New target price is 46% above last closing price of ₹314. Stock is up 33% over the past year. The company is forecast to post earnings per share of ₹9.65 for next year compared to ₹9.48 last year.Upcoming Dividend • Sep 13Upcoming dividend of ₹5.00 per shareEligible shareholders must have bought the stock before 20 September 2024. Payment date: 12 October 2024. Payout ratio is on the higher end at 94%, and the cash payout ratio is above 100%. Trailing yield: 2.6%. Within top quartile of Indian dividend payers (1.0%). Higher than average of industry peers (1.0%).お知らせ • Aug 16RITES Limited, Annual General Meeting, Sep 12, 2024RITES Limited, Annual General Meeting, Sep 12, 2024, at 11:00 Indian Standard Time.Declared Dividend • Aug 16Dividend of ₹5.00 announcedShareholders will receive a dividend of ₹5.00. Ex-date: 20th September 2024 Payment date: 12th October 2024 Dividend yield will be 2.6%, which is higher than the industry average of 1.1%. Sustainability & Growth Dividend is not adequately covered by earnings (94% earnings payout ratio) nor is it covered by cash flows (147% cash payout ratio). The dividend has increased by an average of 23% per year over the past 6 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 4.8% to bring the payout ratio under control. EPS is expected to grow by 87% over the next 3 years, which is sufficient to bring the dividend into a sustainable range.Declared Dividend • Aug 02First quarter dividend of ₹2.50 announcedShareholders will receive a dividend of ₹2.50. Ex-date: 8th August 2024 Payment date: 30th August 2024 Dividend yield will be 2.5%, which is higher than the industry average of 1.1%. Sustainability & Growth Dividend is not adequately covered by earnings (94% earnings payout ratio) nor is it covered by cash flows (147% cash payout ratio). The dividend has increased by an average of 23% per year over the past 6 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 4.8% to bring the payout ratio under control. EPS is expected to grow by 23% over the next year, which is sufficient to bring the dividend into a sustainable range.お知らせ • Aug 01RITES Limited Announces Executive ChangesRITES Limited announced that following changes have taken place in the Senior Management of the Company: Shri Vijay Kumar (Vertical Head, Highways) has superannuated on 31 July 2024 and thereby ceased to be among the Senior Management of the company; Shri Rajesh Naik has been designated as Vertical Head, Highways with effect from 1 August 2024 and is thereby included in the Senior Management of the company. Shri Rajesh Naik is Graduated in Civil Engineering in 1992 from Karnataka University. He is having 32 years of extensive professional and academic experience in various Design of Roads and Construction Supervision, Project Preparation and Execution in the field of roads, highway, Border fencing and Railway projects in India and overseas. Further development of port structure preparation of DPR &TEFR for Railway, Flyover & Mechanised Cargo Handling. He is responsible for Construction & Supervision, Project Program and planning & Preparation activities involving soil and material survey, Road inventories, establishing quality control test standards and procedures for construction, field checking and control of materials and works in conformity with the specification and quality standards, checking of bills and claims, certification on quality of works, preparation and review of soil and material report, Construction methodology, Quantity survey and Cost Analysis. Shri Rajesh Naik is not related to any other director of the company.Reported Earnings • Aug 01First quarter 2025 earnings released: EPS: ₹3.29 (vs ₹4.49 in 1Q 2024)First quarter 2025 results: EPS: ₹3.29 (down from ₹4.49 in 1Q 2024). Revenue: ₹4.86b (down 11% from 1Q 2024). Net income: ₹790.2m (down 27% from 1Q 2024). Profit margin: 16% (down from 20% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 40% per year, which means it is well ahead of earnings.お知らせ • Jul 31RITES Limited Approves First Interim Dividend for the Financial Year 2024-2025RITES Limited announced that at its board meeting held on July 31, 2024, approved first interim dividend for the financial year 2024-2025 at the rate of INR 2.50 per share (25% of paid-up share capital) of the company. Further, the record date set for the purpose of payment of first interim dividend for financial year 2024-2025 is August 8, 2024.Buy Or Sell Opportunity • Jul 31Now 22% undervaluedThe stock has been flat over the last 90 days, currently trading at ₹715. The fair value is estimated to be ₹920, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.7% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 30% in 2 years. Earnings are forecast to grow by 43% in the next 2 years.New Risk • Jul 29New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 95% Cash payout ratio: 147% Minor Risk Share price has been volatile over the past 3 months (8.1% average weekly change).お知らせ • Jul 23RITES Limited to Report Q1, 2025 Results on Jul 31, 2024RITES Limited announced that they will report Q1, 2025 results on Jul 31, 2024Buy Or Sell Opportunity • Jul 09Now 21% undervaluedOver the last 90 days, the stock has risen 9.0% to ₹742. The fair value is estimated to be ₹935, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.7% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 30% in 2 years. Earnings are forecast to grow by 43% in the next 2 years.Valuation Update With 7 Day Price Move • Jun 05Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to ₹608, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 29x in the Professional Services industry in India. Total returns to shareholders of 168% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹845 per share.Buy Or Sell Opportunity • Jun 04Now 26% undervalued after recent price dropOver the last 90 days, the stock has fallen 16% to ₹623. The fair value is estimated to be ₹843, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.1% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 26% in 2 years. Earnings are forecast to grow by 43% in the next 2 years.お知らせ • May 30RITES Limited Recommends Dividend for the Financial Year 2023-24RITES Limited Recommended Dividend of INR 5.00/- per share (i.e. 50%) on 240,301,887 equity shares of face value of INR 10/each of the Company for the financial year 2023-24, subject To Approve the same by the Shareholders in the upcoming 50th Annual General Meeting of the Company. Upon approval of shareholders, the dividend declared will be paid within thirty (30) days of declaration, subject to deduction of applicable Tax at Source as per the provisions of the Income Tax Act, 1961 and rules framed thereunder.お知らせ • May 29RITES Limited Announces Management ChangesRITES Limited informed that following changes have taken place in the Senior Management of the Company: Shri Pankaj Chaudhary, GGM/Civil & RH/ERPO transferred from ERPO/Kolkata to S&CC/Gurugram as Vertical Head (S&CC) and shall be designated as Chief Strategy Officer (CSO). Shri Rajiv Kumar Sinha, GGM/Civil & PU Head/Kolkata transferred from PU Kolkata to ERPO/Kolkata as Regional Head (ERPO). Shri Pankaj Chaudhary has multi-disciplinary professional experience of more than 24 years. He has graduated in Civil Engineering from IIT, Banaras Hindu University and has done Master of Engineering from IIT, University of Roorkee. He was Regional Head of ERPO of RITES and presently posted as Vertical Head (S&CC) and Chief Strategy Officer of the Company. Prior to joining of RITES Limited, he had work for Military Engineering Services. Shri Rajiv Kumar Sinha has overall professional experience of more than 36 years. He has done B.Sc. Engineering from Patna University. He had joined RITES Limited in March 1997. He was PU Head/Kolkata and now transferred to ERPO/Kolkata as Regional Head (ERPO). Prior to joining of RITES Limited, he had work for Ashika Construction Private Limited,Laxmi Narayan Verma Agency and Creative Planner. Date of appointment is May 28, 2024.Reported Earnings • May 29Full year 2024 earnings: EPS and revenues miss analyst expectationsFull year 2024 results: EPS: ₹18.95 (down from ₹22.56 in FY 2023). Revenue: ₹25.4b (down 3.4% from FY 2023). Net income: ₹4.55b (down 16% from FY 2023). Profit margin: 18% (down from 21% in FY 2023). Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) also missed analyst estimates by 6.9%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth.お知らせ • May 17RITES Limited to Report Q4, 2024 Results on May 28, 2024RITES Limited announced that they will report Q4, 2024 results on May 28, 2024Buy Or Sell Opportunity • May 06Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 11% to ₹675. The fair value is estimated to be ₹845, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 5.2%. Revenue is forecast to grow by 37% in 2 years. Earnings are forecast to grow by 47% in the next 2 years.Buy Or Sell Opportunity • Apr 15Now 20% undervaluedOver the last 90 days, the stock has risen 27% to ₹665. The fair value is estimated to be ₹836, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 5.2%. Revenue is forecast to grow by 37% in 2 years. Earnings are forecast to grow by 47% in the next 2 years.お知らせ • Mar 28RITES Limited Appoints Shailendra Singh as Government Nominee DirectorRITES Limited announced that Ministry of Railways has nominated Shri Shailendra Singh, Principal Executive Director/ME (EnHM & Project), Railway Board as part time Government Nominee Director of the Company till he holds the post of Principal Executive Director/ME (EnHM & Project), Railway Board or until further orders, whichever is earlier. The Board of Directors has passed the resolution for the appointment of Shri Shailendra Singh, as an additional Director (Government Nominee Director) through resolution by circulation on March 27, 2024. Shri Shailendra Singh, an IRSME Officer of 1989 batch, mechanical engineer and holding graduate degree in Mechanical Engineering from G.B. Pant University Pantnagar and an M.Tech in Production Engineering from IIT Delhi. Shri Shailendra Singh is currently serving as the Principal Executive Director of Environment and Project at the Railway Board. He embarked on his career journey in 1994 as an Assistant Mechanical Engineer in the Dhanbad Division of Eastern Railway. He has an illustrious career spanning more than 30 years in Indian Railways and has held key introducing concepts like crashworthiness and Centre Buffer Coupler, enhancing the periodicity of ICF coaches' maintenance, and developing various innovative solutions for passenger safety and comfort. During his tenure at the Railway Board, he led teams in conceptualizing and introducing new train services and coach designs, including Humsafar, Tejas, Antyodaya trains, and Anubhuti, Vistadome, and Deen Dayalu coaches. He played a pivotal role in standardizing safety features across coaches, piloting initiatives for bio- toilets, and overseeing the introduction of Mahamana Trains with world-class interiors.Valuation Update With 7 Day Price Move • Mar 13Investor sentiment deteriorates as stock falls 21%After last week's 21% share price decline to ₹585, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 31x in the Professional Services industry in India. Total returns to shareholders of 181% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹827 per share.Buy Or Sell Opportunity • Mar 13Now 29% undervaluedOver the last 90 days, the stock has risen 14% to ₹585. The fair value is estimated to be ₹827, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 5.2%. Revenue is forecast to grow by 37% in 2 years. Earnings are forecast to grow by 47% in the next 2 years.お知らせ • Feb 28RITES Limited Announces Company Secretary and Compliance Officer ChangesRITES Limited passed the resolution for appointment of Mr. Ashok Mishra, a fellow member of The Institute of Company Secretaries of India as Company Secretary and Compliance Officer of the Company in place of Shri Nikhil Agarwal, DGM (Finance & CS) effective February 28, 2024. This is to further inform that Shri Nikhil Agarwal ceased to be the Company Secretary and Compliance Officer of the Company effective February 28, 2024.Price Target Changed • Feb 05Price target increased by 43% to ₹694Up from ₹486, the current price target is an average from 4 analysts. New target price is 7.1% below last closing price of ₹747. Stock is up 126% over the past year. The company is forecast to post earnings per share of ₹20.35 for next year compared to ₹22.56 last year.Reported Earnings • Feb 03Third quarter 2024 earnings released: EPS: ₹5.00 (vs ₹5.83 in 3Q 2023)Third quarter 2024 results: EPS: ₹5.00 (down from ₹5.83 in 3Q 2023). Revenue: ₹6.83b (flat on 3Q 2023). Net income: ₹1.20b (down 14% from 3Q 2023). Profit margin: 18% (down from 21% in 3Q 2023). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth.Declared Dividend • Feb 03Third quarter dividend of ₹4.75 announcedShareholders will receive a dividend of ₹4.75. Ex-date: 9th February 2024 Payment date: 2nd March 2024 Dividend yield will be 2.7%, which is higher than the industry average of 1.1%. Sustainability & Growth Dividend is not adequately covered by earnings (99% earnings payout ratio) nor is it covered by cash flows (111% cash payout ratio). The dividend has increased by an average of 25% per year over the past 6 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 10.0% to bring the payout ratio under control. EPS is expected to grow by 52% over the next 2 years, which is sufficient to bring the dividend into a sustainable range.お知らせ • Feb 02RITES Limited Announces Change in ManagementRITES Limited announced that following changes have taken place in the Senior Management of the Company. Shri Debasish Majumdar (Vertical Head/Technical Services) has superannuated on 31 January 2024 (from closure of business hours) and thereby ceased to be among the Senior Management of the Company. Shri Sandeep Jain (ED/Mech) has been designated as Vertical Head/Technical Services and is thereby included in the Senior Management of the Company. Mr. Sandeep Jain, a graduate in Mech. Engg and Post Graduate in Thermal Engg from IIT/Delhi in 1989 & 1991 respectively. He is also an MBA (Finance). He joined Indian Railways in 1991 (IRSME 1991 Batch) and has worked in different capacities as Nodal officer in Railway Board on Disaster Management. He was also a Nodal Officer in manufacturing of LHB Coaches at RCF/Kapurthala. Incharge of Diesel Shed Shakurbasti developed facilities for DEMU maintenance. Under his supervision, CNG and biodiesel was introduced first time in Indian Railways. After serving for 21 years, has joined RITES on deputation in November, 2013 and took absorption in December, 2017 in RITES. He has rich professional experience of nearly 32 years in various fields which includes Operation & Maintenance, Safety, Manufacturing, Product Development, Wet Leasing, Export of Rolling Stock, Quality Assurance, Inspection, Development of digital platforms, Installation & Commissioning of Machine & Plants, Setting up of Infrastructure projects, People management, Business Development etc. He has worked in various positions in RITES in the capacity of GGM/SBU Head (QA), GM (Expotech & S&CC) etc. He is presently working as Vertical Head/TS and has also been appointed as Nominee Director in SRBWIPL,a Joint Venture of SAIL & RITES. He has been responsible for various projects in RES Division performing duties as Strategic Business Unit Head of Railway Equipment Services (RES) which deals with Loco leasing and O&M of Rail assets by running the mini-railway system at sites such as power plants, coal mines, steel plants, container depots, ports etc and ensured overall management/administration of RES Sub Unit having 43 sites for O&M, leasing of 74 nos. of locos on 33 sites across India, and 05 infrastructure projects i.e. Setting up of Workshops & maintenance facilities for wagons, coaches, DEMU/MEMU etc. across India. He ensured diversification of Loco leasing business with comprehensive AMC of yard including loco, track OHE, S&T etc. in one package for clients. In QA vertical also he was instrumental in increasing turnover from about 115 crore in 2013-14 to 391 crore in year 2022-23. In Expotech Divison, prestigious order from CFM, Mozambique of 6 Locomotives, 60 loco hauled coaches & 5 DEMU sets comprising of 6 coaches. Under his leadership, RES Vertical secured the "Best Business Vertical Award (Golden trophy)" for the year 2022-2023.お知らせ • Feb 01RITES Limited Declares Third Interim Dividend for the Financial Year 2023-24The Board of Directors of RITES Limited at their meeting held on February 01, 2024 have declared Third Interim Dividend for the Financial Year 2023-24 at the rate of INR 4.75 per share (47.5% of paid up share capital of the company). The Record Date set for the purpose of payment of Third Interim Dividend for Financial Year 2023-24 is February 09, 2024.New Risk • Jan 25New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 101% Cash payout ratio: 111% Minor Risk Share price has been volatile over the past 3 months (8.3% average weekly change).Buy Or Sell Opportunity • Jan 23Now 27% undervaluedOver the last 90 days, the stock has risen 24% to ₹565. The fair value is estimated to be ₹776, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 7.3%. Revenue is forecast to grow by 32% in 2 years. Earnings are forecast to grow by 43% in the next 2 years.Valuation Update With 7 Day Price Move • Jan 21Investor sentiment improves as stock rises 21%After last week's 21% share price gain to ₹628, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 25x in the Professional Services industry in India. Total returns to shareholders of 188% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹776 per share.お知らせ • Jan 18RITES Limited to Report Q3, 2024 Results on Feb 01, 2024RITES Limited announced that they will report Q3, 2024 results on Feb 01, 2024お知らせ • Jan 01RITES Limited Relieves Shri Manobendra Ghoshal as Chief Strategy OfficerRITES Limited informed that "Shri Manobendra Ghoshal (Chief Strategy Officer)" has been relieved from RITES Limited on January 01, 2024 to join as Chairman & Managing Director of MSTC Limited and thereby ceased to be among the Senior Management of the Company.お知らせ • Nov 15RITES Limited Announces Change in ManagementRITES Limited announced that "Shri Sai Singh Khongrymmai (SAG /IRSE)" has been designated as Regional Head, NERPO/Guwahati vice "Shri Mahesh Narayan" and thereby "Shri Sai Singh Khongrymmai" is included in Senior Management of the Company and "Shri Mahesh Narayan" has ceased to be among the Senior Management of the Company. Shri S.S. Khongrymmai is an IRSE officer of 1999 batch and graduated in Civil Engineering from Assam Engineering College in 1997. He has more than 21 years of professional experience indifferent fields of Civil Engg. ranging from BG/MG Track maintenance, Planning, Land acquisition, Geo-technical Investigation and Construction of New Railway Line Projects. During his professional career, he has worked for commission of Gauge Conversion of Rangapara-Harmurti Line, Tetelia-Kamlajari, Tetelia-Byrnihat New Line Projects and Construction of Agartala-Sabroom project. As ADRM/LMG, he was involved in the safe and efficient train operations and also planning and finalizing of 15 nos of Amrit Stations of Lumding. Further, he has been in- charge of restoration works between NHLG to BPB (19 sites) in May-June 2022.お知らせ • Nov 02RITES Limited Announces Executive ChangesRITES Limited announced that "Shri Rajeev Kumar Dayal (Vertical Head/UI)" has superannuated on 31 October 2023 and thereby ceased to be among the Senior Management of the Company and "Shri Lalit Kumar (GM/Civil) has been designated as Vertical Head/UI w.e.f 01 November 1, 2023 and is thereby included in the Senior Management of the Company. Mr. Lalit Kumar graduated in Civil Engg from BITS, Pilani in 1991. He has nearly 31 years of professional experience in different fields of Civil Engg. ranging from Detailed Design Consultancy, Construction Supervision, Alignment/Feasibility study for Road/Railway Tunnels, Tendering and Contract Management for consultancy works in tunneling/bridges projects of national importance. He joined RITES in August 2012 and is presently working as Regional Head,/Urban Infrastructure. Previously he has worked in the capacity of GM/CED/SBU Head and AGM/CED. He has been responsible for various Alignment Studies, Feasibility Studies, Detailed Project Reports, Construction supervision of more than 250 tunnels in RITES for NR, NFR, SCR, SECR, NWR and other zonal railways, DFCC, NHIDCL, BRO, PWD etc. He has executed consultancy projects for various iconic bridge projects like Bogibeel, Muriganga, Bridge no 39, 43 and numerous ROB. projects. He has international exposure and has executed Tunnelling Study for Mayumba-Mbigou-Franceville New Standard Gauge Railway Line in Gabon" for Govt. of Gabon and DPR for Assaita- Tadjourah Rail Link for client Ethiopian Railway Corporation. Previously he has worked with IRCON in different capacities. He has worked for mega projects of Railways such as Udhampur- Srinagar- Baramulla new BG Rail Link (tunnelling of approx 45 km) and was instrumental in Construction Supervision of prestigious Pir Panjal Tunnel (11km long). Besides, he worked on Sivok (West Bengal) Rangpo (Sikkim) New BG Rail Line Project (tunnelling of approx 33 km).お知らせ • Nov 01RITES Limited Approves DividendRITES Limited announced that the Board of Directors at their meeting held on October 31, 2023 have declared second interim dividend for the Financial Year 2023-24 at the rate of INR 4.50 per share (45% of paid up share capital of the company). The record date set for the purpose of payment of second interim dividend for Financial Year 2023-24 is November 08, 2023.Reported Earnings • Nov 01Second quarter 2024 earnings released: EPS: ₹4.21 (vs ₹5.51 in 2Q 2023)Second quarter 2024 results: EPS: ₹4.21 (down from ₹5.51 in 2Q 2023). Revenue: ₹6.09b (down 7.6% from 2Q 2023). Net income: ₹1.01b (down 24% from 2Q 2023). Profit margin: 17% (down from 20% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth.お知らせ • Oct 24RITES Limited Announces Executive ChangesRITES Limited announced that following changes have taken place in the Senior Management of the Company: Shri Prem Singh Meena (GGM/ES&T) has been designated as Vertical Head of newly created METRO Vertical (hitherto part of Urban Infrastructure Vertical) and this will be effective from 1 November 2023; Shri Madan Lal Meena (GGM/ES&T) has been designated as Regional Head NRPO, Gurugram vice Shri N D Patankar and thereby Shri Mandan Lal Meena is included in the Senior Management of the company and Shri N D Patankar has ceased to be among the Senior Management of the company.お知らせ • Oct 13RITES Limited to Report Q2, 2024 Results on Oct 31, 2023RITES Limited announced that they will report Q2, 2024 results on Oct 31, 2023お知らせ • Sep 13Rites Limited Announces Executive ChangesRITES Limited informed that Shri Joshit Ranjan Sikidar has been relieved off from his duties of Company Secretary and Compliance Officer from the closure of working hours on 11 September 2023, and thereafter Shri Nikhil Agarwal, has been appointed as Company Secretary and Compliance Officer of the Company from September, 12, 2023. The required disclosures have been attached herewith as Annexure-A. Reason for change is Shri Joshit Ranjan Sikidar, has been selected for the post of Director/Finance of Solar Energy Corporation of India Limited (SECI) and he will be joining as Director/Finance of SECI from September 12, 2023. Shri Nikhil Agarwal is working as Deputy General Manager in RITES Limited and is also an Associate Member of The Institute of Company Secretaries of India (M. . A42626), The Institute of Chartered Accountants of India & The Institute of Cost Accountants of India. He is having over 11 years of experience in fields of finance and Company Secretary. He will be taking over the charge as Company Secretary and Compliance Officer of the Company with effect from September 12, 2023 and will be holding the same till the appointment of regular incumbent to the post.Upcoming Dividend • Sep 01Upcoming dividend of ₹6.00 per share at 4.0% yieldEligible shareholders must have bought the stock before 08 September 2023. Payment date: 15 October 2023. Payout ratio is on the higher end at 95%, and the cash payout ratio is above 100%. Trailing yield: 4.0%. Within top quartile of Indian dividend payers (1.4%). Higher than average of industry peers (1.4%).お知らせ • Aug 19RITES Limited, Annual General Meeting, Sep 15, 2023RITES Limited, Annual General Meeting, Sep 15, 2023, at 11:00 Indian Standard Time. Agenda: To receive, consider and adopt the Audited Financial Statements (Standalone and Consolidated) of the Company for the Financial Year ended 31 March 2023 along with the Director's Report and Auditor's Report thereon; to confirm the first, second and third dividend declared in the FY 2022-23 and to declare final dividend on equity shares for the financial year ended 31 March 2023; to appoint a Director in place of Shri Sandeep Jain, the Government Nominee Director; and to transact other business.Price Target Changed • Aug 01Price target increased by 14% to ₹417Up from ₹366, the current price target is an average from 5 analysts. New target price is 10% below last closing price of ₹465. Stock is up 74% over the past year. The company is forecast to post earnings per share of ₹23.80 for next year compared to ₹22.56 last year.Upcoming Dividend • Jul 31Upcoming dividend of ₹3.75 per share at 4.4% yieldEligible shareholders must have bought the stock before 07 August 2023. Payment date: 27 August 2023. Payout ratio is on the higher end at 95%, and the cash payout ratio is above 100%. Trailing yield: 4.4%. Within top quartile of Indian dividend payers (1.5%). Higher than average of industry peers (1.5%).Reported Earnings • Jul 29First quarter 2024 earnings released: EPS: ₹4.49 (vs ₹5.72 in 1Q 2023)First quarter 2024 results: EPS: ₹4.49 (down from ₹5.72 in 1Q 2023). Revenue: ₹5.63b (down 7.0% from 1Q 2023). Net income: ₹1.08b (down 22% from 1Q 2023). Profit margin: 19% (down from 23% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth.お知らせ • Jul 29+ 2 more updatesRITES Limited Approves First Interim Dividend for the Financial Year 2023-2024RITES Limited announced that at its board meeting held on July 28, 2023, approved first interim dividend for the financial year 2023-2024 at the rate of INR 3.75 per share (37.5% of paid up share capital) of the company. Further, as intimated earlier vide its letter no. RITES/SECY/NSE, dated July 17, 2023, the record date set for the purpose of payment of first interim dividend for financial year 2023-2024 is August 07, 2023.Valuation Update With 7 Day Price Move • Jul 21Investor sentiment improves as stock rises 17%After last week's 17% share price gain to ₹455, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 26x in the Professional Services industry in India. Total returns to shareholders of 122% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹396 per share.お知らせ • Jul 18RITES Limited to Report Q1, 2024 Results on Jul 28, 2023RITES Limited announced that they will report Q1, 2024 results on Jul 28, 2023Price Target Changed • May 22Price target decreased by 7.1% to ₹355Down from ₹382, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of ₹369. Stock is up 46% over the past year. The company is forecast to post earnings per share of ₹23.80 for next year compared to ₹22.56 last year.お知らせ • May 19RITES Limited Recommends Final Dividend for the Financial Year 2022-23The board of directors of RITES Limited at its meeting held on May 18, 2023, recommended final dividend for the Financial Year 2022-23 at the rate of INR 6 per share (60% of paid-up share capital) of the company subject to the approval of shareholders in upcoming Annual General Meeting.Reported Earnings • May 19Full year 2023 earnings: EPS and revenues miss analyst expectationsFull year 2023 results: EPS: ₹22.56 (up from ₹21.49 in FY 2022). Revenue: ₹27.3b (up 2.6% from FY 2022). Net income: ₹5.42b (up 5.0% from FY 2022). Profit margin: 20% (in line with FY 2022). Revenue missed analyst estimates by 4.5%. Earnings per share (EPS) also missed analyst estimates by 4.8%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth.Buying Opportunity • Mar 28Now 21% undervaluedOver the last 90 days, the stock is up 1.1%. The fair value is estimated to be ₹430, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.6% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 27% in 2 years. Earnings is forecast to grow by 36% in the next 2 years.Buying Opportunity • Mar 13Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 9.2%. The fair value is estimated to be ₹446, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.6% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 27% in 2 years. Earnings is forecast to grow by 36% in the next 2 years.Reported Earnings • Feb 10Third quarter 2023 earnings released: EPS: ₹5.83 (vs ₹5.77 in 3Q 2022)Third quarter 2023 results: EPS: ₹5.83 (up from ₹5.77 in 3Q 2022). Revenue: ₹7.03b (down 9.3% from 3Q 2022). Net income: ₹1.40b (up 1.0% from 3Q 2022). Profit margin: 20% (up from 18% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 1% per year.お知らせ • Feb 10RITES Limited Declares Third Interim Dividend for Financial Year 2022-23RITES Limited announced that at its board meeting held on February 9, 2023, the Board of Directors declared third interim dividend for the Financial Year 2022-23 at the rate of INR 6 per share (60% of paid-up share capital) of the company. The record date set for the purpose of payment of third interim dividend for Financial Year 2022-23 is February 17, 2023.お知らせ • Jan 20RITES Limited to Report Q3, 2023 Results on Feb 09, 2023RITES Limited announced that they will report Q3, 2023 results on Feb 09, 2023業績と収益の成長予測BSE:541556 - アナリストの将来予測と過去の財務データ ( )INR Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数3/31/202834,6685,3775,8887,35643/31/202728,2824,5143,5115,90433/31/202624,1514,1032,6553,275N/A12/31/202522,6254,130N/AN/AN/A9/30/202522,2974,1114,0675,282N/A6/30/202522,2183,859N/AN/AN/A3/31/202522,1783,8485,0456,371N/A12/31/202422,4563,782N/AN/AN/A9/30/202423,5283,9823,4544,623N/A6/30/202423,9434,264N/AN/AN/A3/31/202424,5294,5542,9444,316N/A12/31/202324,9644,613N/AN/AN/A9/30/202324,9094,8134,4585,681N/A6/30/202325,6765,125N/AN/AN/A3/31/202326,2835,4204,2425,598N/A12/31/202227,0755,468N/AN/AN/A9/30/202228,0535,4544,6906,190N/A6/30/202229,1185,819N/AN/AN/A3/31/202226,6185,1641,6783,096N/A12/31/202124,8305,174N/AN/AN/A9/30/202121,9864,810-1061,194N/A6/30/202118,7884,416N/AN/AN/A3/31/202119,0534,3244,3595,157N/A12/31/202018,0354,294N/AN/AN/A9/30/202019,7404,7793,4984,099N/A6/30/202022,8135,809N/AN/AN/A3/31/202024,8356,1612,0453,170N/A12/31/201926,4886,195N/AN/AN/A9/30/201925,6396,054N/A2,590N/A6/30/201922,6064,805N/AN/AN/A3/31/201920,5534,695N/A1,636N/A12/31/201818,6944,389N/AN/AN/A9/30/201817,0674,017N/A1,695N/A6/30/201815,5133,617N/AN/AN/A3/31/201815,0653,425N/A4,100N/A3/31/201713,6553,285N/A5,551N/A3/31/201610,9062,814N/A637N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: 541556の予測収益成長率 (年間13.7% ) は 貯蓄率 ( 6.9% ) を上回っています。収益対市場: 541556の収益 ( 13.7% ) Indian市場 ( 16.1% ) よりも低い成長が予測されています。高成長収益: 541556の収益は増加すると予測されていますが、大幅には増加しません。収益対市場: 541556の収益 ( 18.1% ) Indian市場 ( 10.7% ) よりも速いペースで成長すると予測されています。高い収益成長: 541556の収益 ( 18.1% ) 20%よりも低い成長が予測されています。一株当たり利益成長率予想将来の株主資本利益率将来のROE: 541556の 自己資本利益率 は、3年後には低くなると予測されています ( 19.9 %)。成長企業の発掘7D1Y7D1Y7D1YCommercial-services 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/26 21:20終値2026/05/26 00:00収益2026/03/31年間収益2026/03/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋RITES Limited 4 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。7 アナリスト機関Kunal Sheth360 ONE Capital Market Private Limitednull nullAntique Stockbroking Ltd.Shreyans MehtaEquirus Securities Private Limited4 その他のアナリストを表示
Price Target Changed • Nov 20Price target decreased by 7.8% to ₹327Down from ₹354, the current price target is an average from 4 analysts. New target price is 19% above last closing price of ₹275. Stock is up 17% over the past year. The company is forecast to post earnings per share of ₹9.20 for next year compared to ₹9.48 last year.
Price Target Changed • Oct 10Price target increased by 30% to ₹459Up from ₹354, the current price target is an average from 4 analysts. New target price is 46% above last closing price of ₹314. Stock is up 33% over the past year. The company is forecast to post earnings per share of ₹9.65 for next year compared to ₹9.48 last year.
Price Target Changed • Feb 05Price target increased by 43% to ₹694Up from ₹486, the current price target is an average from 4 analysts. New target price is 7.1% below last closing price of ₹747. Stock is up 126% over the past year. The company is forecast to post earnings per share of ₹20.35 for next year compared to ₹22.56 last year.
Price Target Changed • Aug 01Price target increased by 14% to ₹417Up from ₹366, the current price target is an average from 5 analysts. New target price is 10% below last closing price of ₹465. Stock is up 74% over the past year. The company is forecast to post earnings per share of ₹23.80 for next year compared to ₹22.56 last year.
Price Target Changed • May 22Price target decreased by 7.1% to ₹355Down from ₹382, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of ₹369. Stock is up 46% over the past year. The company is forecast to post earnings per share of ₹23.80 for next year compared to ₹22.56 last year.
Reported Earnings • May 20Full year 2026 earnings: EPS misses analyst expectationsFull year 2026 results: EPS: ₹8.54 (up from ₹8.01 in FY 2025). Revenue: ₹25.2b (up 14% from FY 2025). Net income: ₹4.10b (up 6.6% from FY 2025). Profit margin: 16% (down from 17% in FY 2025). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.6%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.
Buy Or Sell Opportunity • May 12Now 22% undervalued after recent price dropOver the last 90 days, the stock has fallen 6.3% to ₹212. The fair value is estimated to be ₹272, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.8% over the last 3 years. Earnings per share has declined by 12%. Revenue is forecast to grow by 50% in 2 years. Earnings are forecast to grow by 30% in the next 2 years.
お知らせ • Apr 22RITES Limited to Report Fiscal Year 2026 Results on May 19, 2026RITES Limited announced that they will report fiscal year 2026 results on May 19, 2026
Buy Or Sell Opportunity • Feb 12Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 9.7% to ₹223. The fair value is estimated to be ₹282, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.8% over the last 3 years. Earnings per share has declined by 12%. Revenue is forecast to grow by 50% in 2 years. Earnings are forecast to grow by 30% in the next 2 years.
Declared Dividend • Feb 06Third quarter dividend of ₹1.90 announcedShareholders will receive a dividend of ₹1.90. Ex-date: 10th February 2026 Payment date: 5th March 2026 Dividend yield will be 3.5%, which is higher than the industry average of 1.1%. Sustainability & Growth Dividend is not adequately covered by earnings (91% earnings payout ratio). However, it is covered by cash flows (89% cash payout ratio). The dividend has increased by an average of 14% per year over the past 8 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 1.6% to bring the payout ratio under control. EPS is expected to grow by 31% over the next 2 years, which is sufficient to bring the dividend into a sustainable range.
Reported Earnings • Feb 05Third quarter 2026 earnings released: EPS: ₹2.12 (vs ₹2.08 in 3Q 2025)Third quarter 2026 results: EPS: ₹2.12 (up from ₹2.08 in 3Q 2025). Revenue: ₹6.09b (up 5.7% from 3Q 2025). Net income: ₹1.02b (up 1.9% from 3Q 2025). Profit margin: 17% (in line with 3Q 2025). Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings.
お知らせ • Jan 22RITES Limited to Report Q3, 2026 Results on Feb 04, 2026RITES Limited announced that they will report Q3, 2026 results on Feb 04, 2026
Declared Dividend • Nov 13Second quarter dividend of ₹2.00 announcedShareholders will receive a dividend of ₹2.00. Ex-date: 14th November 2025 Payment date: 11th December 2025 Dividend yield will be 3.2%, which is higher than the industry average of 1.1%. Sustainability & Growth Dividend is covered by both earnings (53% earnings payout ratio) and cash flows (89% cash payout ratio). The dividend has increased by an average of 16% per year over the past 7 years. However, payments have been volatile during that time. EPS is expected to grow by 49% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Nov 12Second quarter 2026 earnings released: EPS: ₹2.04 (vs ₹1.52 in 2Q 2025)Second quarter 2026 results: EPS: ₹2.04 (up from ₹1.52 in 2Q 2025). Revenue: ₹5.79b (up 7.1% from 2Q 2025). Net income: ₹982.1m (up 35% from 2Q 2025). Profit margin: 17% (up from 14% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings.
お知らせ • Oct 31RITES Limited to Report Q2, 2026 Results on Nov 11, 2025RITES Limited announced that they will report Q2, 2026 results on Nov 11, 2025
お知らせ • Oct 20RITES Limited Appoints Shri Jayant Kumar as Part Time Government Nominee Director, Effective October 17, 2025RITES Limited informed that Ministry of Railways vide its letter no. 2022/PL/57/10 dated October 17, 2025 has informed that Hon'ble President of India has approved the appointment of Shri Jayant Kumar (DIN: 07179274), EDME (MDP), Railway Board as part time Government Nominee Director on the Board of the Company till he holds the post of EDME (MDP), Railway Board or until further orders, whichever is earlier. Shri Jayant Kumar is presently serving as EDME (MDP), Railway Board. He is holding a Bachelor's in Mechanical Engineering and belongs to Indian Railways Service of Mechanical Engineers (IRSME) of 1994 batch and has more than 25 years of rich & varied experience working with the Indian Railways and Govt. of India. Date of appointment is October 17, 2025.
Buy Or Sell Opportunity • Oct 13Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 9.8% to ₹252. The fair value is estimated to be ₹318, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.9% over the last 3 years. Earnings per share has declined by 15%. Revenue is forecast to grow by 52% in 2 years. Earnings are forecast to grow by 33% in the next 2 years.
Buy Or Sell Opportunity • Sep 27Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 11% to ₹249. The fair value is estimated to be ₹316, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.9% over the last 3 years. Earnings per share has declined by 15%. Revenue is forecast to grow by 52% in 2 years. Earnings are forecast to grow by 33% in the next 2 years.
お知らせ • Sep 23RITES Limited Appoints Rajbir Sharma as Independent Director, Effective September 23, 2025RITES Limited at its Annual General Meeting held on September 23, 2025, approved to appoint Shri Rajbir Sharma as an Independent Director of the Company.
Declared Dividend • Sep 06Dividend of ₹2.65 announcedShareholders will receive a dividend of ₹2.65. Ex-date: 17th September 2025 Payment date: 23rd October 2025 Dividend yield will be 2.9%, which is higher than the industry average of 1.1%. Sustainability & Growth Dividend is not adequately covered by earnings (95% earnings payout ratio). However, it is covered by cash flows (72% cash payout ratio). The dividend has increased by an average of 16% per year over the past 7 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 5.0% to bring the payout ratio under control. EPS is expected to grow by 52% over the next 3 years, which is sufficient to bring the dividend into a sustainable range.
Buy Or Sell Opportunity • Aug 25Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 8.8% to ₹252. The fair value is estimated to be ₹317, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.9% over the last 3 years. Earnings per share has declined by 15%. Revenue is forecast to grow by 52% in 2 years. Earnings are forecast to grow by 33% in the next 2 years.
お知らせ • Aug 21RITES Limited, Annual General Meeting, Sep 23, 2025RITES Limited, Annual General Meeting, Sep 23, 2025, at 11:00 Indian Standard Time.
Reported Earnings • Aug 07First quarter 2026 earnings released: EPS: ₹1.67 (vs ₹1.65 in 1Q 2025)First quarter 2026 results: EPS: ₹1.67 (up from ₹1.65 in 1Q 2025). Revenue: ₹4.90b (flat on 1Q 2025). Net income: ₹801.0m (up 1.4% from 1Q 2025). Profit margin: 16% (in line with 1Q 2025). Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings.
お知らせ • Jul 21RITES Limited to Report Q1, 2026 Results on Aug 06, 2025RITES Limited announced that they will report Q1, 2026 results on Aug 06, 2025
New Risk • May 20New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (94% payout ratio). Share price has been volatile over the past 3 months (8.4% average weekly change).
Reported Earnings • May 15Full year 2025 earnings: EPS exceeds analyst expectationsFull year 2025 results: EPS: ₹8.01 (down from ₹9.48 in FY 2024). Revenue: ₹23.2b (down 5.3% from FY 2024). Net income: ₹3.85b (down 16% from FY 2024). Profit margin: 17% (down from 19% in FY 2024). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 12%. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings.
お知らせ • Apr 28RITES Limited to Report Q4, 2025 Results on May 14, 2025RITES Limited announced that they will report Q4, 2025 results on May 14, 2025
お知らせ • Apr 21Rites Limited Announces Board and Committee ChangesRITES Limited announced that The resignation tendered by Shri Arun Kumar Singh (DIN:09747776) Director (Projects) of the Company citing personal commitments, has been approved by the Competent Authority w.e.f. May 5, 2025 and communicated to the Company vide letter dated 21 April 2025. Consequently, he shall also cease to be Chairman of Risk Management Committee and Project Investment Committee as well as member of the Audit Committee of the Company w.e.f. May 5, 2025. The letter of resignation received from Shri Arun Kumar Singh is enclosed herewith. Deepak Tripathi (DIN: 10090267) currently serving as Director (Technical) of the Company with the additional charge of the post of Director (Projects) of the Company for a period of 6 months w.e.f. May 5, 2025 or till assumption of charge of the post by the regular incumbent or until further orders whichever is the earliest.
Valuation Update With 7 Day Price Move • Mar 24Investor sentiment improves as stock rises 25%After last week's 25% share price gain to ₹255, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 29x in the Professional Services industry in India. Total returns to shareholders of 126% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹325 per share.
お知らせ • Mar 01RITES Limited Announces Senior Management ChangesRITES Limited announced that following changes have taken place in the Senior Management of the Company: Shri S. Sridhar, Dy. CVO and Vertical Head (Vigilance) has superannuated effective end of office hours on February 28, 2025 and thereby ceased to be among the Senior Management of the Company. Shri Abhas Kumar, GGM (Vigilance) has been designated as Dy. CVO and Vertical Head (Vigilance) effective March 1, 2025, and is thereby included in the Senior Management of the Company. Shri Abhas Kumar has done M. Tech in Transport Engineering and is a Associate Member of The Institute of Engineers. He has over 37 years of multi- disciplinary professional experience. He has been with RITES Limited since September 1987.
お知らせ • Jan 30RITES Limited Announces Executive ChangesRITES Limited informed that following changes have taken place in the Senior Management of the Company: Shri Surendra Singh Kshatriya, GGM (F&A) has been relieved from RITES Limited on January 30, 2025, afternoon to join as Director (Finance) of Mineral Exploration & Consultancy Limited (MECL) and thereby ceased to be among the Senior Management of the Company. Shri Satya Bhushan Samanta, GGM (FE) has been designated as Vertical Head (Finance) with effect from January 30, 2025, afternoon and is thereby included in the Senior Management of the Company. Shri Satya Bhushan Samanta is a qualified Cost and Management Accountant as well as a Chartered Accountant, and he has over 28 years of multi- disciplinary professional experience. He has been with RITES Limited since June 2016. Prior to joining RITES, he was with IREL(India) Limited, Department of Atomic Energy, Government of India and has held various key positions in Finance Department at its Kerala Mineral Division unit.
Declared Dividend • Jan 30Third quarter dividend of ₹1.90 announcedShareholders will receive a dividend of ₹1.90. Ex-date: 31st January 2025 Payment date: 27th February 2025 Dividend yield will be 4.3%, which is higher than the industry average of 1.1%. Sustainability & Growth Dividend is not adequately covered by earnings (94% earnings payout ratio) nor is it covered by cash flows (125% cash payout ratio). The dividend has increased by an average of 19% per year over the past 7 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 4.4% to bring the payout ratio under control. EPS is expected to grow by 44% over the next 2 years, which is sufficient to bring the dividend into a sustainable range.
Reported Earnings • Jan 29Third quarter 2025 earnings released: EPS: ₹2.08 (vs ₹2.50 in 3Q 2024)Third quarter 2025 results: EPS: ₹2.08 (down from ₹2.50 in 3Q 2024). Revenue: ₹6.14b (down 10% from 3Q 2024). Net income: ₹1.00b (down 17% from 3Q 2024). Profit margin: 16% (down from 18% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings.
お知らせ • Jan 28RITES Limited Approves Third Interim Dividend for the Financial Year 2024-25RITES Limited at the Board of Directors meeting held on January 28, 2025 approved declaration of (Third) interim dividend for the Financial Year 2024-25 at the rate of INR 1.90 per share (19.00% of paid-up share capital) of the Company. Further, the record date set for the purpose of payment of (third) interim dividend for Financial Year 2024-25 is February 01, 2025.
お知らせ • Jan 22RITES Limited Announces Executive ChangesRITES Limited announced amendments that following changes has taken place in the Senior Management of the Company: Shri M. L. Meena, GGM/Civil & RH (NRPO) transferred to RI Vertical Gurgaon effective January 22, 2025 and thereby ceased to be among the Senior Management of the Company. Shri Anoop Sharma, GGM/Civil is taking over charge as Regional Head/NRPO on transfer of Shri M. L. Meena, GGM/Civil to RI Vertical Gurgaon effective January 22, 2025 and is thereby included in the Senior Management of the Company. Details of Shri Anoop Sharma: He holds a B.E. in Civil Engineering from Kurukshetra University and Diploma in Civil Engineering. With over 27 years of extensive experience, he has specialized in PMC Construction, Supervision and Tendering. His career includes significant tenures at Braithwaite & Co., IRCON International, and RITES, where he contributed in the projects of EMRS schools (18 nos) & NVS schools (5 nos), TURA medical project, Tezu, Jorhat & Shillong airports buildings for north east civil projects in Assam, Mizoram, Manipur, Meghalaya & Tripura having total value of projects more than 1500 crs.
お知らせ • Jan 16RITES Limited to Report Q3, 2025 Results on Jan 28, 2025RITES Limited announced that they will report Q3, 2025 results on Jan 28, 2025
お知らせ • Jan 13Rites Limited Announces Cessation of Likha Togu as Non-Official Independent DirectorRITES Limited announced that Shri Likha Togu (DIN: 09470640) as Non-Official Independent Director on the Board of the Company has ended on January 13, 2025. List of Board of Directors of RITES Limited as on January 14, 2025 Shri Rahul Mithal Chairman & Managing Director, Shri Arun Kumar Singh Director (Projects), Dr. Deepak Tripathi Director (Technical), Shri Krishna Gopal Agarwal Director (Finance), Shri Sandeep Jain Government Nominee Director, Shri Shailendra Singh Government Nominee Director.
お知らせ • Dec 13RITES Limited Announces Management ChangesRITES Limited informed that following changes has taken place in the Senior Management of the Company: Shri Shrirang Dharmaji Kamble, GGM/Civil & WRPO repatriated to Ministry of Railways w.e.f. December 13, 2024 and thereby ceased to be among the Senior Management of the Company. Shri N D Patankar, GGM/Civil is taking over charge as Regional Head/WRPO on repatriation of Shri Shrirang Dharmaji Kamble, GGM/Civil to Ministry of Railways w.e.f. December 13, 2024 and is thereby included in the Senior Management of the Company. Shri N D Patankar holds a B.E. in Civil Engineering from SPCE, Mumbai, and an M. Tech in Construction Engineering and Management from I.I.T Delhi. With over 23 years of extensive experience, he has specialized in infrastructure project planning, implementation, monitoring, procurement, contract management, business development, and revenue generation. His career includes significant tenures at BARC, MMRDA, and RITES, where he contributed to residential, commercial, strategic, and metro rail projects. Notably, he has played a key role in planning and executing various metro lines in Mumbai, such as Line-2A, 2B, 4, and 4A. Before joining RITES, he served as a Class-1 Gazetted Officer at the Bhabha Atomic Research Centre for nearly 20 years.
Price Target Changed • Nov 20Price target decreased by 7.8% to ₹327Down from ₹354, the current price target is an average from 4 analysts. New target price is 19% above last closing price of ₹275. Stock is up 17% over the past year. The company is forecast to post earnings per share of ₹9.20 for next year compared to ₹9.48 last year.
お知らせ • Nov 08RITES Limited Announces Cessation of DirectorsRITES Limited informed that Hon'ble President of India through Ministry of Railways, Govt. of India order dated November 09, 2021 had appointed Dr. Godawari Mishra and Shri Laxman T. Tapashi as Non-Official Independent Director on the Board of the Company and subsequently appointment was also approved by the shareholders of the Company by passing special resolution through postal ballot. The company informed that the tenure of appointment of Dr. Godawari Mishra and Shri Laxman T. Tapashi as Non-Official Independent Director on the Board of the Company has ended on 8th November, 2024. Consequently, Dr. Godawari Mishra and Shri Laxman T. Tapashi have ceased to be Independent Director of the Company with effect from close of business hours on 8th November, 2024.
Declared Dividend • Nov 08Second quarter dividend of ₹1.75 announcedShareholders will receive a dividend of ₹1.75. Ex-date: 14th November 2024 Payment date: 6th December 2024 Dividend yield will be 4.9%, which is higher than the industry average of 1.1%. Sustainability & Growth Dividend is covered by earnings (59% earnings payout ratio) but not covered by cash flows (125% cash payout ratio). The dividend has increased by an average of 23% per year over the past 6 years. However, payments have been volatile during that time. EPS is expected to grow by 119% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Nov 07Second quarter 2025 earnings released: EPS: ₹1.52 (vs ₹2.11 in 2Q 2024)Second quarter 2025 results: EPS: ₹1.52 (down from ₹2.11 in 2Q 2024). Revenue: ₹5.62b (down 3.5% from 2Q 2024). Net income: ₹729.8m (down 28% from 2Q 2024). Profit margin: 13% (down from 17% in 2Q 2024). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings.
お知らせ • Nov 01RITES Limited Announces Executive ChangesRITES Limited announced following changes have taken place in the Senior Management of the Company: Shri Anjeev Kumar Jain, Executive Director (Finance) has been relieved from RITES Limited on November 01, 2024, afternoon to join as Director (Finance) of NBCC (India) Limited and thereby ceased to be among the Senior Management of the Company. Shri Surendra Singh Kshatriya, GGM (F&A) has been designated as Vertical Head (Finance) with effect from November 01, 2024, afternoon and is thereby included in the Senior Management of the Company. Shri Surendra Singh Kshatriya is a qualified Chartered Accountant and he has over 29 years of multi-disciplinary professional experience. He joined RITES Limited in August, 2022. Prior to joining RITES, he had a long stint of more than 26 years holding various key positions in Finance Department of Steel Authority of India Limited (SAIL). Shri Surendra Singh Kshatriya, is not related to any other Director/KMP of the Company.
お知らせ • Oct 22RITES Limited Announces Resignation of Dineshananda Goswami as Independent DirectorRITES Limited announced that Dr. Dineshananda Goswami, has tendered his resignation as the Independent Director of the Company, with effect from 22nd October, 2024, citing pre-occupation and other personal commitments. Consequently, he shall also cease to be Chairman of the Audit Committee and Risk Management Committee and member of Project Investment Committee of the Company.
お知らせ • Oct 17RITES Limited to Report Q2, 2025 Results on Nov 06, 2024RITES Limited announced that they will report Q2, 2025 results on Nov 06, 2024
Price Target Changed • Oct 10Price target increased by 30% to ₹459Up from ₹354, the current price target is an average from 4 analysts. New target price is 46% above last closing price of ₹314. Stock is up 33% over the past year. The company is forecast to post earnings per share of ₹9.65 for next year compared to ₹9.48 last year.
Upcoming Dividend • Sep 13Upcoming dividend of ₹5.00 per shareEligible shareholders must have bought the stock before 20 September 2024. Payment date: 12 October 2024. Payout ratio is on the higher end at 94%, and the cash payout ratio is above 100%. Trailing yield: 2.6%. Within top quartile of Indian dividend payers (1.0%). Higher than average of industry peers (1.0%).
お知らせ • Aug 16RITES Limited, Annual General Meeting, Sep 12, 2024RITES Limited, Annual General Meeting, Sep 12, 2024, at 11:00 Indian Standard Time.
Declared Dividend • Aug 16Dividend of ₹5.00 announcedShareholders will receive a dividend of ₹5.00. Ex-date: 20th September 2024 Payment date: 12th October 2024 Dividend yield will be 2.6%, which is higher than the industry average of 1.1%. Sustainability & Growth Dividend is not adequately covered by earnings (94% earnings payout ratio) nor is it covered by cash flows (147% cash payout ratio). The dividend has increased by an average of 23% per year over the past 6 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 4.8% to bring the payout ratio under control. EPS is expected to grow by 87% over the next 3 years, which is sufficient to bring the dividend into a sustainable range.
Declared Dividend • Aug 02First quarter dividend of ₹2.50 announcedShareholders will receive a dividend of ₹2.50. Ex-date: 8th August 2024 Payment date: 30th August 2024 Dividend yield will be 2.5%, which is higher than the industry average of 1.1%. Sustainability & Growth Dividend is not adequately covered by earnings (94% earnings payout ratio) nor is it covered by cash flows (147% cash payout ratio). The dividend has increased by an average of 23% per year over the past 6 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 4.8% to bring the payout ratio under control. EPS is expected to grow by 23% over the next year, which is sufficient to bring the dividend into a sustainable range.
お知らせ • Aug 01RITES Limited Announces Executive ChangesRITES Limited announced that following changes have taken place in the Senior Management of the Company: Shri Vijay Kumar (Vertical Head, Highways) has superannuated on 31 July 2024 and thereby ceased to be among the Senior Management of the company; Shri Rajesh Naik has been designated as Vertical Head, Highways with effect from 1 August 2024 and is thereby included in the Senior Management of the company. Shri Rajesh Naik is Graduated in Civil Engineering in 1992 from Karnataka University. He is having 32 years of extensive professional and academic experience in various Design of Roads and Construction Supervision, Project Preparation and Execution in the field of roads, highway, Border fencing and Railway projects in India and overseas. Further development of port structure preparation of DPR &TEFR for Railway, Flyover & Mechanised Cargo Handling. He is responsible for Construction & Supervision, Project Program and planning & Preparation activities involving soil and material survey, Road inventories, establishing quality control test standards and procedures for construction, field checking and control of materials and works in conformity with the specification and quality standards, checking of bills and claims, certification on quality of works, preparation and review of soil and material report, Construction methodology, Quantity survey and Cost Analysis. Shri Rajesh Naik is not related to any other director of the company.
Reported Earnings • Aug 01First quarter 2025 earnings released: EPS: ₹3.29 (vs ₹4.49 in 1Q 2024)First quarter 2025 results: EPS: ₹3.29 (down from ₹4.49 in 1Q 2024). Revenue: ₹4.86b (down 11% from 1Q 2024). Net income: ₹790.2m (down 27% from 1Q 2024). Profit margin: 16% (down from 20% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 40% per year, which means it is well ahead of earnings.
お知らせ • Jul 31RITES Limited Approves First Interim Dividend for the Financial Year 2024-2025RITES Limited announced that at its board meeting held on July 31, 2024, approved first interim dividend for the financial year 2024-2025 at the rate of INR 2.50 per share (25% of paid-up share capital) of the company. Further, the record date set for the purpose of payment of first interim dividend for financial year 2024-2025 is August 8, 2024.
Buy Or Sell Opportunity • Jul 31Now 22% undervaluedThe stock has been flat over the last 90 days, currently trading at ₹715. The fair value is estimated to be ₹920, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.7% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 30% in 2 years. Earnings are forecast to grow by 43% in the next 2 years.
New Risk • Jul 29New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 95% Cash payout ratio: 147% Minor Risk Share price has been volatile over the past 3 months (8.1% average weekly change).
お知らせ • Jul 23RITES Limited to Report Q1, 2025 Results on Jul 31, 2024RITES Limited announced that they will report Q1, 2025 results on Jul 31, 2024
Buy Or Sell Opportunity • Jul 09Now 21% undervaluedOver the last 90 days, the stock has risen 9.0% to ₹742. The fair value is estimated to be ₹935, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.7% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 30% in 2 years. Earnings are forecast to grow by 43% in the next 2 years.
Valuation Update With 7 Day Price Move • Jun 05Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to ₹608, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 29x in the Professional Services industry in India. Total returns to shareholders of 168% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹845 per share.
Buy Or Sell Opportunity • Jun 04Now 26% undervalued after recent price dropOver the last 90 days, the stock has fallen 16% to ₹623. The fair value is estimated to be ₹843, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.1% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 26% in 2 years. Earnings are forecast to grow by 43% in the next 2 years.
お知らせ • May 30RITES Limited Recommends Dividend for the Financial Year 2023-24RITES Limited Recommended Dividend of INR 5.00/- per share (i.e. 50%) on 240,301,887 equity shares of face value of INR 10/each of the Company for the financial year 2023-24, subject To Approve the same by the Shareholders in the upcoming 50th Annual General Meeting of the Company. Upon approval of shareholders, the dividend declared will be paid within thirty (30) days of declaration, subject to deduction of applicable Tax at Source as per the provisions of the Income Tax Act, 1961 and rules framed thereunder.
お知らせ • May 29RITES Limited Announces Management ChangesRITES Limited informed that following changes have taken place in the Senior Management of the Company: Shri Pankaj Chaudhary, GGM/Civil & RH/ERPO transferred from ERPO/Kolkata to S&CC/Gurugram as Vertical Head (S&CC) and shall be designated as Chief Strategy Officer (CSO). Shri Rajiv Kumar Sinha, GGM/Civil & PU Head/Kolkata transferred from PU Kolkata to ERPO/Kolkata as Regional Head (ERPO). Shri Pankaj Chaudhary has multi-disciplinary professional experience of more than 24 years. He has graduated in Civil Engineering from IIT, Banaras Hindu University and has done Master of Engineering from IIT, University of Roorkee. He was Regional Head of ERPO of RITES and presently posted as Vertical Head (S&CC) and Chief Strategy Officer of the Company. Prior to joining of RITES Limited, he had work for Military Engineering Services. Shri Rajiv Kumar Sinha has overall professional experience of more than 36 years. He has done B.Sc. Engineering from Patna University. He had joined RITES Limited in March 1997. He was PU Head/Kolkata and now transferred to ERPO/Kolkata as Regional Head (ERPO). Prior to joining of RITES Limited, he had work for Ashika Construction Private Limited,Laxmi Narayan Verma Agency and Creative Planner. Date of appointment is May 28, 2024.
Reported Earnings • May 29Full year 2024 earnings: EPS and revenues miss analyst expectationsFull year 2024 results: EPS: ₹18.95 (down from ₹22.56 in FY 2023). Revenue: ₹25.4b (down 3.4% from FY 2023). Net income: ₹4.55b (down 16% from FY 2023). Profit margin: 18% (down from 21% in FY 2023). Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) also missed analyst estimates by 6.9%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth.
お知らせ • May 17RITES Limited to Report Q4, 2024 Results on May 28, 2024RITES Limited announced that they will report Q4, 2024 results on May 28, 2024
Buy Or Sell Opportunity • May 06Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 11% to ₹675. The fair value is estimated to be ₹845, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 5.2%. Revenue is forecast to grow by 37% in 2 years. Earnings are forecast to grow by 47% in the next 2 years.
Buy Or Sell Opportunity • Apr 15Now 20% undervaluedOver the last 90 days, the stock has risen 27% to ₹665. The fair value is estimated to be ₹836, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 5.2%. Revenue is forecast to grow by 37% in 2 years. Earnings are forecast to grow by 47% in the next 2 years.
お知らせ • Mar 28RITES Limited Appoints Shailendra Singh as Government Nominee DirectorRITES Limited announced that Ministry of Railways has nominated Shri Shailendra Singh, Principal Executive Director/ME (EnHM & Project), Railway Board as part time Government Nominee Director of the Company till he holds the post of Principal Executive Director/ME (EnHM & Project), Railway Board or until further orders, whichever is earlier. The Board of Directors has passed the resolution for the appointment of Shri Shailendra Singh, as an additional Director (Government Nominee Director) through resolution by circulation on March 27, 2024. Shri Shailendra Singh, an IRSME Officer of 1989 batch, mechanical engineer and holding graduate degree in Mechanical Engineering from G.B. Pant University Pantnagar and an M.Tech in Production Engineering from IIT Delhi. Shri Shailendra Singh is currently serving as the Principal Executive Director of Environment and Project at the Railway Board. He embarked on his career journey in 1994 as an Assistant Mechanical Engineer in the Dhanbad Division of Eastern Railway. He has an illustrious career spanning more than 30 years in Indian Railways and has held key introducing concepts like crashworthiness and Centre Buffer Coupler, enhancing the periodicity of ICF coaches' maintenance, and developing various innovative solutions for passenger safety and comfort. During his tenure at the Railway Board, he led teams in conceptualizing and introducing new train services and coach designs, including Humsafar, Tejas, Antyodaya trains, and Anubhuti, Vistadome, and Deen Dayalu coaches. He played a pivotal role in standardizing safety features across coaches, piloting initiatives for bio- toilets, and overseeing the introduction of Mahamana Trains with world-class interiors.
Valuation Update With 7 Day Price Move • Mar 13Investor sentiment deteriorates as stock falls 21%After last week's 21% share price decline to ₹585, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 31x in the Professional Services industry in India. Total returns to shareholders of 181% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹827 per share.
Buy Or Sell Opportunity • Mar 13Now 29% undervaluedOver the last 90 days, the stock has risen 14% to ₹585. The fair value is estimated to be ₹827, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 5.2%. Revenue is forecast to grow by 37% in 2 years. Earnings are forecast to grow by 47% in the next 2 years.
お知らせ • Feb 28RITES Limited Announces Company Secretary and Compliance Officer ChangesRITES Limited passed the resolution for appointment of Mr. Ashok Mishra, a fellow member of The Institute of Company Secretaries of India as Company Secretary and Compliance Officer of the Company in place of Shri Nikhil Agarwal, DGM (Finance & CS) effective February 28, 2024. This is to further inform that Shri Nikhil Agarwal ceased to be the Company Secretary and Compliance Officer of the Company effective February 28, 2024.
Price Target Changed • Feb 05Price target increased by 43% to ₹694Up from ₹486, the current price target is an average from 4 analysts. New target price is 7.1% below last closing price of ₹747. Stock is up 126% over the past year. The company is forecast to post earnings per share of ₹20.35 for next year compared to ₹22.56 last year.
Reported Earnings • Feb 03Third quarter 2024 earnings released: EPS: ₹5.00 (vs ₹5.83 in 3Q 2023)Third quarter 2024 results: EPS: ₹5.00 (down from ₹5.83 in 3Q 2023). Revenue: ₹6.83b (flat on 3Q 2023). Net income: ₹1.20b (down 14% from 3Q 2023). Profit margin: 18% (down from 21% in 3Q 2023). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth.
Declared Dividend • Feb 03Third quarter dividend of ₹4.75 announcedShareholders will receive a dividend of ₹4.75. Ex-date: 9th February 2024 Payment date: 2nd March 2024 Dividend yield will be 2.7%, which is higher than the industry average of 1.1%. Sustainability & Growth Dividend is not adequately covered by earnings (99% earnings payout ratio) nor is it covered by cash flows (111% cash payout ratio). The dividend has increased by an average of 25% per year over the past 6 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 10.0% to bring the payout ratio under control. EPS is expected to grow by 52% over the next 2 years, which is sufficient to bring the dividend into a sustainable range.
お知らせ • Feb 02RITES Limited Announces Change in ManagementRITES Limited announced that following changes have taken place in the Senior Management of the Company. Shri Debasish Majumdar (Vertical Head/Technical Services) has superannuated on 31 January 2024 (from closure of business hours) and thereby ceased to be among the Senior Management of the Company. Shri Sandeep Jain (ED/Mech) has been designated as Vertical Head/Technical Services and is thereby included in the Senior Management of the Company. Mr. Sandeep Jain, a graduate in Mech. Engg and Post Graduate in Thermal Engg from IIT/Delhi in 1989 & 1991 respectively. He is also an MBA (Finance). He joined Indian Railways in 1991 (IRSME 1991 Batch) and has worked in different capacities as Nodal officer in Railway Board on Disaster Management. He was also a Nodal Officer in manufacturing of LHB Coaches at RCF/Kapurthala. Incharge of Diesel Shed Shakurbasti developed facilities for DEMU maintenance. Under his supervision, CNG and biodiesel was introduced first time in Indian Railways. After serving for 21 years, has joined RITES on deputation in November, 2013 and took absorption in December, 2017 in RITES. He has rich professional experience of nearly 32 years in various fields which includes Operation & Maintenance, Safety, Manufacturing, Product Development, Wet Leasing, Export of Rolling Stock, Quality Assurance, Inspection, Development of digital platforms, Installation & Commissioning of Machine & Plants, Setting up of Infrastructure projects, People management, Business Development etc. He has worked in various positions in RITES in the capacity of GGM/SBU Head (QA), GM (Expotech & S&CC) etc. He is presently working as Vertical Head/TS and has also been appointed as Nominee Director in SRBWIPL,a Joint Venture of SAIL & RITES. He has been responsible for various projects in RES Division performing duties as Strategic Business Unit Head of Railway Equipment Services (RES) which deals with Loco leasing and O&M of Rail assets by running the mini-railway system at sites such as power plants, coal mines, steel plants, container depots, ports etc and ensured overall management/administration of RES Sub Unit having 43 sites for O&M, leasing of 74 nos. of locos on 33 sites across India, and 05 infrastructure projects i.e. Setting up of Workshops & maintenance facilities for wagons, coaches, DEMU/MEMU etc. across India. He ensured diversification of Loco leasing business with comprehensive AMC of yard including loco, track OHE, S&T etc. in one package for clients. In QA vertical also he was instrumental in increasing turnover from about 115 crore in 2013-14 to 391 crore in year 2022-23. In Expotech Divison, prestigious order from CFM, Mozambique of 6 Locomotives, 60 loco hauled coaches & 5 DEMU sets comprising of 6 coaches. Under his leadership, RES Vertical secured the "Best Business Vertical Award (Golden trophy)" for the year 2022-2023.
お知らせ • Feb 01RITES Limited Declares Third Interim Dividend for the Financial Year 2023-24The Board of Directors of RITES Limited at their meeting held on February 01, 2024 have declared Third Interim Dividend for the Financial Year 2023-24 at the rate of INR 4.75 per share (47.5% of paid up share capital of the company). The Record Date set for the purpose of payment of Third Interim Dividend for Financial Year 2023-24 is February 09, 2024.
New Risk • Jan 25New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 101% Cash payout ratio: 111% Minor Risk Share price has been volatile over the past 3 months (8.3% average weekly change).
Buy Or Sell Opportunity • Jan 23Now 27% undervaluedOver the last 90 days, the stock has risen 24% to ₹565. The fair value is estimated to be ₹776, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 7.3%. Revenue is forecast to grow by 32% in 2 years. Earnings are forecast to grow by 43% in the next 2 years.
Valuation Update With 7 Day Price Move • Jan 21Investor sentiment improves as stock rises 21%After last week's 21% share price gain to ₹628, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 25x in the Professional Services industry in India. Total returns to shareholders of 188% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹776 per share.
お知らせ • Jan 18RITES Limited to Report Q3, 2024 Results on Feb 01, 2024RITES Limited announced that they will report Q3, 2024 results on Feb 01, 2024
お知らせ • Jan 01RITES Limited Relieves Shri Manobendra Ghoshal as Chief Strategy OfficerRITES Limited informed that "Shri Manobendra Ghoshal (Chief Strategy Officer)" has been relieved from RITES Limited on January 01, 2024 to join as Chairman & Managing Director of MSTC Limited and thereby ceased to be among the Senior Management of the Company.
お知らせ • Nov 15RITES Limited Announces Change in ManagementRITES Limited announced that "Shri Sai Singh Khongrymmai (SAG /IRSE)" has been designated as Regional Head, NERPO/Guwahati vice "Shri Mahesh Narayan" and thereby "Shri Sai Singh Khongrymmai" is included in Senior Management of the Company and "Shri Mahesh Narayan" has ceased to be among the Senior Management of the Company. Shri S.S. Khongrymmai is an IRSE officer of 1999 batch and graduated in Civil Engineering from Assam Engineering College in 1997. He has more than 21 years of professional experience indifferent fields of Civil Engg. ranging from BG/MG Track maintenance, Planning, Land acquisition, Geo-technical Investigation and Construction of New Railway Line Projects. During his professional career, he has worked for commission of Gauge Conversion of Rangapara-Harmurti Line, Tetelia-Kamlajari, Tetelia-Byrnihat New Line Projects and Construction of Agartala-Sabroom project. As ADRM/LMG, he was involved in the safe and efficient train operations and also planning and finalizing of 15 nos of Amrit Stations of Lumding. Further, he has been in- charge of restoration works between NHLG to BPB (19 sites) in May-June 2022.
お知らせ • Nov 02RITES Limited Announces Executive ChangesRITES Limited announced that "Shri Rajeev Kumar Dayal (Vertical Head/UI)" has superannuated on 31 October 2023 and thereby ceased to be among the Senior Management of the Company and "Shri Lalit Kumar (GM/Civil) has been designated as Vertical Head/UI w.e.f 01 November 1, 2023 and is thereby included in the Senior Management of the Company. Mr. Lalit Kumar graduated in Civil Engg from BITS, Pilani in 1991. He has nearly 31 years of professional experience in different fields of Civil Engg. ranging from Detailed Design Consultancy, Construction Supervision, Alignment/Feasibility study for Road/Railway Tunnels, Tendering and Contract Management for consultancy works in tunneling/bridges projects of national importance. He joined RITES in August 2012 and is presently working as Regional Head,/Urban Infrastructure. Previously he has worked in the capacity of GM/CED/SBU Head and AGM/CED. He has been responsible for various Alignment Studies, Feasibility Studies, Detailed Project Reports, Construction supervision of more than 250 tunnels in RITES for NR, NFR, SCR, SECR, NWR and other zonal railways, DFCC, NHIDCL, BRO, PWD etc. He has executed consultancy projects for various iconic bridge projects like Bogibeel, Muriganga, Bridge no 39, 43 and numerous ROB. projects. He has international exposure and has executed Tunnelling Study for Mayumba-Mbigou-Franceville New Standard Gauge Railway Line in Gabon" for Govt. of Gabon and DPR for Assaita- Tadjourah Rail Link for client Ethiopian Railway Corporation. Previously he has worked with IRCON in different capacities. He has worked for mega projects of Railways such as Udhampur- Srinagar- Baramulla new BG Rail Link (tunnelling of approx 45 km) and was instrumental in Construction Supervision of prestigious Pir Panjal Tunnel (11km long). Besides, he worked on Sivok (West Bengal) Rangpo (Sikkim) New BG Rail Line Project (tunnelling of approx 33 km).
お知らせ • Nov 01RITES Limited Approves DividendRITES Limited announced that the Board of Directors at their meeting held on October 31, 2023 have declared second interim dividend for the Financial Year 2023-24 at the rate of INR 4.50 per share (45% of paid up share capital of the company). The record date set for the purpose of payment of second interim dividend for Financial Year 2023-24 is November 08, 2023.
Reported Earnings • Nov 01Second quarter 2024 earnings released: EPS: ₹4.21 (vs ₹5.51 in 2Q 2023)Second quarter 2024 results: EPS: ₹4.21 (down from ₹5.51 in 2Q 2023). Revenue: ₹6.09b (down 7.6% from 2Q 2023). Net income: ₹1.01b (down 24% from 2Q 2023). Profit margin: 17% (down from 20% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth.
お知らせ • Oct 24RITES Limited Announces Executive ChangesRITES Limited announced that following changes have taken place in the Senior Management of the Company: Shri Prem Singh Meena (GGM/ES&T) has been designated as Vertical Head of newly created METRO Vertical (hitherto part of Urban Infrastructure Vertical) and this will be effective from 1 November 2023; Shri Madan Lal Meena (GGM/ES&T) has been designated as Regional Head NRPO, Gurugram vice Shri N D Patankar and thereby Shri Mandan Lal Meena is included in the Senior Management of the company and Shri N D Patankar has ceased to be among the Senior Management of the company.
お知らせ • Oct 13RITES Limited to Report Q2, 2024 Results on Oct 31, 2023RITES Limited announced that they will report Q2, 2024 results on Oct 31, 2023
お知らせ • Sep 13Rites Limited Announces Executive ChangesRITES Limited informed that Shri Joshit Ranjan Sikidar has been relieved off from his duties of Company Secretary and Compliance Officer from the closure of working hours on 11 September 2023, and thereafter Shri Nikhil Agarwal, has been appointed as Company Secretary and Compliance Officer of the Company from September, 12, 2023. The required disclosures have been attached herewith as Annexure-A. Reason for change is Shri Joshit Ranjan Sikidar, has been selected for the post of Director/Finance of Solar Energy Corporation of India Limited (SECI) and he will be joining as Director/Finance of SECI from September 12, 2023. Shri Nikhil Agarwal is working as Deputy General Manager in RITES Limited and is also an Associate Member of The Institute of Company Secretaries of India (M. . A42626), The Institute of Chartered Accountants of India & The Institute of Cost Accountants of India. He is having over 11 years of experience in fields of finance and Company Secretary. He will be taking over the charge as Company Secretary and Compliance Officer of the Company with effect from September 12, 2023 and will be holding the same till the appointment of regular incumbent to the post.
Upcoming Dividend • Sep 01Upcoming dividend of ₹6.00 per share at 4.0% yieldEligible shareholders must have bought the stock before 08 September 2023. Payment date: 15 October 2023. Payout ratio is on the higher end at 95%, and the cash payout ratio is above 100%. Trailing yield: 4.0%. Within top quartile of Indian dividend payers (1.4%). Higher than average of industry peers (1.4%).
お知らせ • Aug 19RITES Limited, Annual General Meeting, Sep 15, 2023RITES Limited, Annual General Meeting, Sep 15, 2023, at 11:00 Indian Standard Time. Agenda: To receive, consider and adopt the Audited Financial Statements (Standalone and Consolidated) of the Company for the Financial Year ended 31 March 2023 along with the Director's Report and Auditor's Report thereon; to confirm the first, second and third dividend declared in the FY 2022-23 and to declare final dividend on equity shares for the financial year ended 31 March 2023; to appoint a Director in place of Shri Sandeep Jain, the Government Nominee Director; and to transact other business.
Price Target Changed • Aug 01Price target increased by 14% to ₹417Up from ₹366, the current price target is an average from 5 analysts. New target price is 10% below last closing price of ₹465. Stock is up 74% over the past year. The company is forecast to post earnings per share of ₹23.80 for next year compared to ₹22.56 last year.
Upcoming Dividend • Jul 31Upcoming dividend of ₹3.75 per share at 4.4% yieldEligible shareholders must have bought the stock before 07 August 2023. Payment date: 27 August 2023. Payout ratio is on the higher end at 95%, and the cash payout ratio is above 100%. Trailing yield: 4.4%. Within top quartile of Indian dividend payers (1.5%). Higher than average of industry peers (1.5%).
Reported Earnings • Jul 29First quarter 2024 earnings released: EPS: ₹4.49 (vs ₹5.72 in 1Q 2023)First quarter 2024 results: EPS: ₹4.49 (down from ₹5.72 in 1Q 2023). Revenue: ₹5.63b (down 7.0% from 1Q 2023). Net income: ₹1.08b (down 22% from 1Q 2023). Profit margin: 19% (down from 23% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth.
お知らせ • Jul 29+ 2 more updatesRITES Limited Approves First Interim Dividend for the Financial Year 2023-2024RITES Limited announced that at its board meeting held on July 28, 2023, approved first interim dividend for the financial year 2023-2024 at the rate of INR 3.75 per share (37.5% of paid up share capital) of the company. Further, as intimated earlier vide its letter no. RITES/SECY/NSE, dated July 17, 2023, the record date set for the purpose of payment of first interim dividend for financial year 2023-2024 is August 07, 2023.
Valuation Update With 7 Day Price Move • Jul 21Investor sentiment improves as stock rises 17%After last week's 17% share price gain to ₹455, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 26x in the Professional Services industry in India. Total returns to shareholders of 122% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹396 per share.
お知らせ • Jul 18RITES Limited to Report Q1, 2024 Results on Jul 28, 2023RITES Limited announced that they will report Q1, 2024 results on Jul 28, 2023
Price Target Changed • May 22Price target decreased by 7.1% to ₹355Down from ₹382, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of ₹369. Stock is up 46% over the past year. The company is forecast to post earnings per share of ₹23.80 for next year compared to ₹22.56 last year.
お知らせ • May 19RITES Limited Recommends Final Dividend for the Financial Year 2022-23The board of directors of RITES Limited at its meeting held on May 18, 2023, recommended final dividend for the Financial Year 2022-23 at the rate of INR 6 per share (60% of paid-up share capital) of the company subject to the approval of shareholders in upcoming Annual General Meeting.
Reported Earnings • May 19Full year 2023 earnings: EPS and revenues miss analyst expectationsFull year 2023 results: EPS: ₹22.56 (up from ₹21.49 in FY 2022). Revenue: ₹27.3b (up 2.6% from FY 2022). Net income: ₹5.42b (up 5.0% from FY 2022). Profit margin: 20% (in line with FY 2022). Revenue missed analyst estimates by 4.5%. Earnings per share (EPS) also missed analyst estimates by 4.8%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth.
Buying Opportunity • Mar 28Now 21% undervaluedOver the last 90 days, the stock is up 1.1%. The fair value is estimated to be ₹430, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.6% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 27% in 2 years. Earnings is forecast to grow by 36% in the next 2 years.
Buying Opportunity • Mar 13Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 9.2%. The fair value is estimated to be ₹446, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.6% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 27% in 2 years. Earnings is forecast to grow by 36% in the next 2 years.
Reported Earnings • Feb 10Third quarter 2023 earnings released: EPS: ₹5.83 (vs ₹5.77 in 3Q 2022)Third quarter 2023 results: EPS: ₹5.83 (up from ₹5.77 in 3Q 2022). Revenue: ₹7.03b (down 9.3% from 3Q 2022). Net income: ₹1.40b (up 1.0% from 3Q 2022). Profit margin: 20% (up from 18% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 1% per year.
お知らせ • Feb 10RITES Limited Declares Third Interim Dividend for Financial Year 2022-23RITES Limited announced that at its board meeting held on February 9, 2023, the Board of Directors declared third interim dividend for the Financial Year 2022-23 at the rate of INR 6 per share (60% of paid-up share capital) of the company. The record date set for the purpose of payment of third interim dividend for Financial Year 2022-23 is February 17, 2023.
お知らせ • Jan 20RITES Limited to Report Q3, 2023 Results on Feb 09, 2023RITES Limited announced that they will report Q3, 2023 results on Feb 09, 2023