Below is a structured extraction and summary of the relevant and actionable financial information from RailTel Corporation of India Limited’s results filing dated October 29, 2025.
1. Auditor’s Note
- The Limited Review Report by Lunawat & Co. is unqualified.
- No qualifications, concerns, or issues were raised.
- The review was conducted as per applicable standards (SRE 2410).
- Financial results of 3 branches (Eastern, Western, Southern) were reviewed by branch auditors; their reports were relied upon.
- Conclusion: The unaudited financial results are prepared in accordance with Ind AS and SEBI regulations and contain no material misstatements.
2. Financial Performance
Periods Covered:
- Latest Quarter: Q2 FY26 (July-Sept 2025) — 30.09.2025
- Immediately Preceding Quarter: Q1 FY26 (April-June 2025) — 30.06.2025
- Same Quarter Previous Year: Q2 FY25 (July-Sept 2024) — 30.09.2024
- Half Year Ended: H1 FY26 (Apr-Sept 2025) and H1 FY25 (Apr-Sept 2024)
- Full Financial Year: FY25 (Apr 2024-Mar 2025)
Key Financials (Rs. in Lakhs)
| Particulars | Q2 FY26 (Sep 30, 2025) | Q1 FY26 (Jun 30, 2025) | Q2 FY25 (Sep 30, 2024) | H1 FY26 (Apr-Sep 2025) | H1 FY25 (Apr-Sep 2024) | FY25 (Mar 31, 2025) |
|---|---|---|---|---|---|---|
| Revenue from Operations | 95,136 | 74,381 | 81,319 | 1,69,517 | 1,10,160 | 3,47,750 |
| Other Income | 1,438 | 1,435 | 1,902 | 2,873 | 3,847 | 7,354 |
| Total Income | 96,574 | 75,816 | 86,251 | 1,72,390 | 1,44,007 | 3,55,104 |
| Total Expenses | 84,431 | 67,227 | 75,460 | 1,51,658 | 1,24,786 | 3,12,754 |
| Profit before Exceptional Items & Tax | 12,143 | 8,589 | 10,791 | 20,732 | 19,221 | 42,350 |
| Exceptional Items | 1,613 | (342) | 1,378 | 1,271 | 3,130 | 2,172 |
| Profit before Tax | 10,530 | 8,931 | 9,413 | 19,461 | 16,091 | 40,178 |
| Tax Expense (Current + Deferred) | 2,923 (3,152 - 229) | 2,321 (2,055 + 266) | 2,149 (2,409 - 260) | 5,244 (5,207 + 37) | 3,960 (4,243 - 283) | 10,059 (12,145 - 2,086 + 138) |
| Net Profit (PAT) | 7,607 | 6,610 | 7,264 | 14,217 | 12,131 | 29,981 |
| Other Comprehensive Income (Net of Tax) | (97) | (97) | (51) | (194) | (103) | (387) |
| Total Comprehensive Income | 7,510 | 6,513 | 7,213 | 14,023 | 12,028 | 29,594 |
| EPS (Basic & Diluted, Rs.) | 2.37 | 2.06 | 2.26 | 4.43 | 3.78 | 9.34 |
| Paid-up Equity Share Capital (Rs. 10 face value) | 32,094 | 32,094 | 32,094 | 32,094 | 32,094 | 32,094 |
Margins (approximate):
| Metric | Q2 FY26 | Q1 FY26 | Q2 FY25 | H1 FY26 | H1 FY25 | FY25 |
|---|---|---|---|---|---|---|
| EBITDA (Total Income - Expenses + Depreciation + Finance Cost) | Not explicitly given; can be approximated: | |||||
| EBITDA = Total Income - (Expenses excluding Depreciation & Finance Cost) | ||||||
| Depreciation + Finance Cost Q2 FY26 = 4,687 + 56 = 4,743 | ||||||
| Total Expenses = 84,431 | ||||||
| Expenses excluding Depreciation & Finance Cost = 84,431 - 4,743 = 79,688 | ||||||
| EBITDA = 96,574 - 79,688 = 16,886 lakhs approx. | Similar calculation applies | |||||
| Operating Profit (PBT before exceptional items) | 12,143 | 8,589 | 10,791 | 20,732 | 19,221 | 42,350 |
| Net Profit Margin (%) | 7,607 / 96,574 = 7.9% | 6,610 / 75,816 = 8.7% | 7,264 / 86,251 = 8.4% | 14,217 / 1,72,390 = 8.25% | 12,131 / 1,44,007 = 8.4% | 29,981 / 3,55,104 = 8.4% |
3. Detailed Notes / Management Commentary
- The results are unaudited but reviewed by statutory auditors with limited review.
- The company follows Indian Accounting Standard 34 (Ind AS 34) for interim reporting.
- No changes in accounting policies or material adjustments reported.
- The Board declared an interim dividend of Rs. 1/- per share (10%) for FY 2025-26.
- Figures for previous periods have been regrouped/recast for comparability.
- No caveats or qualifications in auditor’s report.
- No specific commentary on NPAs, slippages, or financial services metrics (not applicable).
- The company operates primarily in two segments: Telecom Services and Project Work Services.
4. Segment Information
Revenue & Profit Before Tax by Segment (Rs. in Lakhs)
| Segment | Q2 FY26 | Q1 FY26 | Q2 FY25 | H1 FY26 | H1 FY25 | FY25 |
|---|---|---|---|---|---|---|
| Telecom Services | 36,753 | 33,476 | 33,809 | 70,229 | 66,586 | 1,36,253 |
| Project Work Services | 58,383 | 40,905 | 50,540 | 99,288 | 73,574 | 2,11,497 |
| Total Revenue | 95,136 | 74,381 | 84,349* | 1,69,517 | 1,40,160 | 3,47,750 |
*Note: Slight difference in Q2 FY25 revenue from operations (81,319 lakhs in main table vs 84,349 lakhs in segment table) likely due to classification.
| Segment | Q2 FY26 | Q1 FY26 | Q2 FY25 | H1 FY26 | H1 FY25 | FY25 |
|---|---|---|---|---|---|---|
| Telecom Services PBT | 10,247 | 6,879 | 8,310 | 17,126 | 14,894 | 30,295 |
| Project Work Services PBT | 2,290 | 2,160 | 1,700 | 4,450 | 2,658 | 9,403 |
| Total Segment PBT | 12,537 | 9,039 | 10,010 | 21,576 | 17,552 | 39,698 |
Less:
- Other Unallocable Expenditure (Net) | 2,178 | 94 | 609 | 2,272 | 1,509 | (38)
- Finance Cost | 56 | 58 | 55 | 114 | 152 | 311
Add:
- Finance Income | 227 | 44 | 67 | 271 | 200 | 753
Resulting Profit Before Tax matches reported figures.
Segment Assets & Liabilities (Rs. in Lakhs)
| Segment | Assets (Sep 30, 2025) | Liabilities (Sep 30, 2025) | Capital Employed (Sep 30, 2025) |
|---|---|---|---|
| Telecom Services | 2,28,558 | 1,46,078 | 82,480 |
| Project Work Services | 2,15,054 | 1,37,650 | 77,404 |
| Unallocable | 62,167 | 10,794 | 51,373 |
| Total | 5,05,779 | 2,94,522 | 2,11,257 |
5. Capex, Projects, and Corporate Activity
-
Capital Expenditure:
- Purchase of Tangible & Intangible Assets including CWIP during H1 FY26: Rs. 12,822 lakhs (vs Rs. 9,434 lakhs in H1 FY25).
- Property, Plant & Equipment increased to Rs. 96,510 lakhs as of Sep 30, 2025 (from Rs. 75,271 lakhs a year ago).
-
Projects:
- Project Work Services revenue increased significantly (Rs. 99,288 lakhs in H1 FY26 vs Rs. 73,574 lakhs in H1 FY25), indicating ongoing/planned project execution.
-
Impairments / Write-downs:
- No explicit mention of impairments or write-downs in the report.
-
Acquisitions / Disposals / Restructuring:
- No disclosures on acquisitions, disposals, mergers, or restructuring.
-
Dividend:
- Interim dividend declared at Rs. 1/- per share (10% of paid-up capital).
6. Standalone vs Consolidated
- The results presented are Standalone financial results.
- No consolidated financials provided or referenced.
Additional Notes
- Cash Flow Highlights (H1 FY26 vs H1 FY25):
| Particulars | H1 FY26 (Rs. Lakhs) | H1 FY25 (Rs. Lakhs) |
|---|---|---|
| Net Profit after Tax | 14,217 | 12,131 |
| Net Cash from Operating Activities (after exceptional items) | (21,518) (outflow) | (23,664) (outflow) |
| Net Cash from Investing Activities | 2,065 (inflow) | 11,206 (inflow) |
| Net Cash from Financing Activities | (6,208) (outflow) | (7,554) (outflow) |
| Cash & Cash Equivalents at period end | 5,143 | 4,753 |
- The company’s cash and cash equivalents decreased significantly compared to FY25 end (Rs. 30,804 lakhs at Mar 31, 2025).
Summary for Investment Analysis Team
| Aspect | Key Points |
|---|---|
| Auditor’s Opinion | Unqualified limited review report; no issues or qualifications. |
| Financial Performance | Q2 FY26 revenue Rs. 95,136 lakhs (+17% QoQ, +17% YoY); H1 FY26 revenue Rs. 1,69,517 lakhs (+22% YoY). Net profit Rs. 7,607 lakhs in Q2 FY26 (+15% QoQ, +5% YoY). EPS at Rs. 2.37 for Q2 FY26. |
| Margins | Net profit margin steady ~8.3-8.7%. Operating profit before exceptional items improved QoQ and YoY. |
| Segment Performance | Telecom Services stable growth; Project Work Services showing strong growth (+35% YoY in H1 revenue). Telecom segment contributes ~41% of revenue; Project Work ~59%. |
| Balance Sheet | Total assets Rs. 5,05,779 lakhs; capital employed increased to Rs. 2,11,257 lakhs. Significant increase in Property, Plant & Equipment. |
| Capex & Projects | Capex of Rs. 12,822 lakhs in H1 FY26, higher than previous year. Project execution ramping up. |
| Dividend | Interim dividend declared at Rs. 1/- per share (10%). |
| Cash Flow | Operating cash outflow of Rs. 21,518 lakhs in H1 FY26; cash balance declined sharply from FY25 end. |
| Accounting / Policy Changes | None reported. |
| Standalone Results Only | No consolidated financials provided. |
This information provides a comprehensive view of RailTel’s recent financial performance, segment dynamics, capital expenditure, and liquidity position for informed investment decision-making.