Market Performance

The RVNL share price was under pressure in early trade, slipping 3% and touching ₹308. With the quarterly numbers coming in soft, the mood around the stock remained cautious.

What stood out was not just the dip but the broader RVNL share price trend, which now reflects a deeper correction from its recent highs.

In fact, the stock is now:

• 40% below its 1-year high of ₹502
• Down 25.25% for the year
• Continuing a decline that has stretched through November

For many traders tracking the RVNL share price today, the stock’s slide has turned into one of the longest downtrends since its listing.

Q2 Results Pull RVNL Share Price Lower

The story really began after market hours on Tuesday, when the company announced its September quarter numbers. The headline was simple: profit slipped even as revenue grew.

Key Financial Details

• Consolidated Net Profit: ₹230.52 crore
  • Down from ₹286.90 crore (YoY)
  • 20% decline
• Total Income: ₹5,333.36 crore
  • Up from ₹5,136.07 crore (YoY)
• Operating Expenses:
  • ₹5,015 crore (vs ₹4,731 crore YoY)
• EBITDA: ₹217 crore
  • Down from ₹256 crore (YoY)
• EBITDA Margin: 4%, lower by 100 bps YoY

The numbers showed a clear trend: higher operating costs weighed on profitability, even as revenue showed an improvement.

From a quarter-on-quarter view, RVNL did show:

• 72.8% QoQ rise in net profit
• 31% QoQ growth in revenue

But on a year-on-year basis, pressure remained visible — a factor that continued to reflect in the RVNL share price trend.

Order Wins Continue Despite Earnings Pressure

Even as the financials tightened, RVNL continued to add new projects to its book.

The company recently secured an order worth ₹272 crore for the Daund–Solapur section. The scope includes:

• Design
• Supply
• Erection
• Testing and commissioning of a 220/132/55 kV traction substation and related systems

This marked RVNL’s fourth project in under two months, with three more orders bagged in October, including a major infrastructure contract of ₹165.5 crore.

These project wins form a part of the company’s ongoing expansion pipeline, though they didn’t offset the sentiment impact from the weaker quarterly performance.

RVNL Share Price Trend: The Slide Continues

The RVNL share price history shows a sharp reversal over the past few months.

Here’s how the trend has shaped up:

• The stock resumed its decline in October after a brief pause in September.
• November added another 4% drop.
• Shares have remained on a downward path since hitting an all-time high of ₹647

With the RVNL share price today hovering around ₹308, the stock has retraced significantly — marking one of its sharpest corrections since its listing.

Summary

The latest quarter turned into a wake-up moment for RVNL shareholders. Despite healthy revenue growth and continued order wins, the company faced:

• Softer profitability
• Higher operating expenses
• Lower EBITDA and margins

These shifts directly influenced the RVNL share price, driving it down 3% on the day of the results and adding to the broader correction trend.

The stock now sits 40% below its 1-year high and 25% down for the year, marking a tough phase in the RVNL share price trend through 2024.