RITES541556Quarterly results
2nd interim dividend of ₹1.90 per share declared; Q2 standalone Profit after tax ₹94.35 crore
Board declared a 2nd interim dividend of ₹1.90 per share (19% of paid-up share capital) for FY 2026-27.
By ScoutQuest · · 2 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 556.83 | 548.53 | +1.5% | 532.20 | +4.6% |
| Total income | 582.81 | 578.83 | +0.7% | 560.68 | +3.9% |
| Profit before tax | 131.01 | 146.38 | −10.5% | 130.56 | +0.3% |
| Profit after tax | 97.06 | 109.10 | −11% | 97.78 | −0.7% |
| Total comprehensive income | 98.90 | 113.95 | −13.2% | 99.80 | −0.9% |
| Basic EPS | 1.79 | 2.04 | −12.3% | 1.81 | −1.1% |
- Profit after tax - Year ago change
- 109.10 (−11%)
- Period
- Quarter Ended 30.09.2026 (Unaudited)
Also decided at the meeting
- Declared 2nd Interim dividend for FY 2026-27 at ₹ 1.90 per share (19% of paid-up share capital); record date Wednesday, November 11, 2026; to be paid on or before 03rd December, 2026.
- Took note that the proposal for formation of JV with NICC Infrastructure Construction LLC and capital contribution therein is not materializing (re intimation dated June 25, 2026).
Auditor's review
Conclusion: Unmodified
- Emphasis of Matter: JV IRSDC (investment ₹48.00 crore) under voluntary liquidation; net worth ₹251.62 crore, 24% share ₹60.39 crore; ₹47.04 crore interim received, accounted as advance.
- Emphasis of Matter: Board on 25 Sep 2026 approved closure of subsidiary RITES (Afrika) Proprietary Limited; investment Rs 0.01 crore, net worth Rs 1.79 crore; no impairment perceived.
- Auditor notes number of Independent Directors is less than half of Board strength as required under Regulation 17(1) of SEBI LODR.
Notes to the results
- IRSDC, a JV (investment ₹48.00 crore), continues under voluntary liquidation; net worth ₹251.62 crore, Company's 24% share ₹60.39 crore; interim ₹47.04 crore received in July 2026.
- Board on 25th September 2026 approved initiation of closure of RITES (Afrika) Proprietary Limited, a wholly owned subsidiary in Botswana.
- There were no Exceptional items during the period/year.
Dividend
- The Board declared the 2nd interim dividend for FY 2026-27 at ₹ 1.90 per share, which works out to 19 % of paid-up share capital.
- Record date is Wednesday, 11 November 2026, and the dividend is to be paid on or before 03 December 2026.
- An interim dividend is a part of profit paid out in cash during the year itself. The record date decides which shareholders are eligible to receive it.
Quarterly results, standalone
- Revenue from operations ₹521.82 crore for the quarter ended 30.09.2026, against ₹513.79 crore in the quarter ended 30.09.2025.
- Profit after tax ₹94.35 crore, against ₹102.22 crore in the same quarter a year earlier.
- These are unaudited standalone results; the Board also approved the unaudited consolidated results for the same period. Both were reviewed by the statutory auditors.
What the auditor's review says
- The review conclusion is not modified: nothing came to the auditors' attention that causes them to believe the statement contains a material misstatement.
- Emphasis of Matter: the Company's ₹48.00 crore investment in Indian Railway Stations Development Corporation Limited (IRSDC), a joint venture that is under voluntary liquidation. IRSDC's accounts are prepared on a liquidation basis, and management does not perceive any impairment in the carrying value of this investment.
- Against that share, the Company received an interim payment of ₹47.04 crore from the Liquidator on 30.07.2026. It is shown as an advance received and no adjustment has been made in the books, since the liquidation process is still continuing.
- Emphasis of Matter also covers RITES (Afrika) Proprietary Limited, a wholly owned subsidiary in Botswana, where the Board approved initiating the closure process; its accounts are also prepared on a liquidation basis.
Other decisions taken at the meeting
- The Board took note that the proposal for formation of a joint venture with NICCL Infrastructure Construction LLC, and contribution of capital in it, is not materializing. This follows the earlier intimation of 25 June 2026 on approval for forming and investing in that JV.
Governance remark in the review report
- The auditors state that the number of independent directors on the Board is less than half of the total strength, as required under Regulation 17(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
How to read this update
- One board meeting carried three separate items: the results, a cash payout to shareholders, and the auditor's notes on the accounts.
- The dividend and the unmodified review conclusion are the routine parts; the Emphasis of Matter items and the board-composition remark are the ones to read carefully, as they describe situations the auditors chose to highlight.
- The JV that will not proceed is a change from an earlier approved plan, and was disclosed as such.
₹94.35 crore-7.7%
Q2 FY26₹102.22 croreQ2 FY27₹94.35 crore
532.20 (₹ in crores)Revenue from operations, quarter
Profit before tax, latest quarter131.01 (₹ in crores)
Profit after tax, year-ago quarter109.10 (₹ in crores)
Profit after tax, quarter97.78 (₹ in crores)
Profit after tax, latest quarter97.06 (₹ in crores)
Profit after tax, standalone₹94.35 crore
Also from RITES
2nd interim dividend of ₹1.90 per share for FY27; Q2 standalone profit at ₹94.35 crore
4 Nov 2026
RITES emerges L-1 lowest bidder for Sri Lanka Railways DMU train sets tender worth ~Rs. 400 crore
2 Nov 2026
RITES to hold Q2FY27 post-results conference call on 5 November 2026, 1100-1200 hrs
2 Nov 2026
More numbers
- 2nd interim dividend per share₹ 1.90 per share
- Dividend as % of paid-up share capital19 % of paid-up share capital
- Revenue from operations, standalone, Q2 FY27₹521.82 crore
- Revenue from operations, standalone, Q2 FY26₹513.79 crore
- Profit after tax, standalone, Q2 FY27₹94.35 crore
- Profit after tax, standalone, Q2 FY26₹102.22 crore
- Investment in IRSDC (under voluntary liquidation)₹48.00 crore
- Interim payment received from IRSDC Liquidator₹47.04 crore
- Total income, latest quarter582.81 (₹ in crores)
- Total income, year-ago quarter578.83 (₹ in crores)
- Total income, previous quarter560.68 (₹ in crores)
- Total comprehensive income, latest quarter98.90 (₹ in crores)
- Total comprehensive income, year-ago quarter113.95 (₹ in crores)
- Total comprehensive income, previous quarter99.80 (₹ in crores)
- Profit after tax, latest quarter97.06 (₹ in crores)
- Profit after tax, year-ago quarter109.10 (₹ in crores)
- Profit after tax, previous quarter97.78 (₹ in crores)
- Revenue from operations, latest quarter556.83 (₹ in crores)
- Revenue from operations, year-ago quarter548.53 (₹ in crores)
- Revenue from operations, previous quarter532.20 (₹ in crores)
- Profit before tax, latest quarter131.01 (₹ in crores)
- Profit before tax, year-ago quarter146.38 (₹ in crores)
- Profit before tax, previous quarter130.56 (₹ in crores)
- second_interim_dividend_per_share₹ 1.90
Source: BSE · 4 Nov 2026
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