RITES Limited — Investor Meet, 14-08-2025: Analysts/Institutional Investor Meet/Con. Call Updates

RITES' Q1 results were flat, but management expects improvement from Q2, aiming to surpass last year's performance with ~20% EBITDA and ~15% PAT margins for FY26. The INR 8,800 crore order book, with INR 3,500 crore in new orders, is now focused on expeditious execution. Consultancy grew 7%, boosting Q1 EBITDA. Key export orders (Mozambique, Bangladesh, and new African locomotive conversions) are progressing, with revenue recognition expected soon. Turnkey projects are primarily project management, not EPC. RITES maintains a strong cash position (INR 800 Cr cash) and plans consistent dividend payouts.