Rasi Electrodes Ltd
Incorporated in 1995, Rasi Electrodes Ltd manufactures and markets welding electrodes
- Market Cap ₹ 89.4 Cr.
- Current Price ₹ 28.7
- High / Low ₹ 32.9 / 12.7
- Stock P/E 30.9
- Book Value ₹ 9.92
- Dividend Yield 0.00 %
- ROCE 13.5 %
- ROE 10.8 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Debtor days have improved from 83.9 to 60.4 days.
- Company's working capital requirements have reduced from 159 days to 108 days
Cons
- Stock is trading at 2.89 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding is low: 28.0%
- Company has a low return on equity of 8.14% over last 3 years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Capital Goods-Non Electrical Equipment Industry: Electrodes - Welding Equipment
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
24.92 | 23.09 | 20.64 | 23.29 | 23.08 | 26.84 | 34.24 | 47.43 | 45.96 | 39.45 | 68.38 | 87.53 | 83.97 | |
22.10 | 20.81 | 19.13 | 21.31 | 20.89 | 24.68 | 32.63 | 44.70 | 44.55 | 37.17 | 65.63 | 83.64 | 80.22 | |
Operating Profit | 2.82 | 2.28 | 1.51 | 1.98 | 2.19 | 2.16 | 1.61 | 2.73 | 1.41 | 2.28 | 2.75 | 3.89 | 3.75 |
OPM % | 11.32% | 9.87% | 7.32% | 8.50% | 9.49% | 8.05% | 4.70% | 5.76% | 3.07% | 5.78% | 4.02% | 4.44% | 4.47% |
0.81 | 0.19 | 0.34 | 0.55 | 0.69 | 0.57 | 0.62 | 0.54 | 0.71 | 0.85 | 1.17 | 1.42 | 1.15 | |
Interest | 0.68 | 0.75 | 0.62 | 0.44 | 0.38 | 0.49 | 0.71 | 0.68 | 0.46 | 0.37 | 0.46 | 0.46 | 0.27 |
Depreciation | 0.25 | 0.39 | 0.40 | 0.60 | 0.80 | 0.82 | 0.68 | 0.82 | 0.88 | 0.75 | 0.68 | 0.68 | 0.62 |
Profit before tax | 2.70 | 1.33 | 0.83 | 1.49 | 1.70 | 1.42 | 0.84 | 1.77 | 0.78 | 2.01 | 2.78 | 4.17 | 4.01 |
Tax % | 27.78% | 30.83% | 32.53% | 36.91% | 40.59% | 40.14% | -1.19% | 42.37% | 34.62% | 32.84% | 26.62% | 28.06% | |
1.95 | 0.92 | 0.56 | 0.94 | 1.01 | 0.85 | 0.85 | 1.02 | 0.51 | 1.36 | 2.05 | 3.01 | 2.89 | |
EPS in Rs | 0.82 | 0.39 | 0.22 | 0.31 | 0.32 | 0.27 | 0.27 | 0.33 | 0.16 | 0.44 | 0.66 | 0.97 | 0.93 |
Dividend Payout % | 12.21% | 25.87% | 0.00% | 32.77% | 30.84% | 36.65% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Compounded Sales Growth | |
---|---|
10 Years: | 14% |
5 Years: | 21% |
3 Years: | 24% |
TTM: | -2% |
Compounded Profit Growth | |
---|---|
10 Years: | 13% |
5 Years: | 33% |
3 Years: | 80% |
TTM: | -3% |
Stock Price CAGR | |
---|---|
10 Years: | 15% |
5 Years: | 49% |
3 Years: | 92% |
1 Year: | 89% |
Return on Equity | |
---|---|
10 Years: | 6% |
5 Years: | 6% |
3 Years: | 8% |
Last Year: | 11% |
Balance Sheet
Figures in Rs. Crores
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 4.76 | 4.76 | 4.97 | 6.16 | 6.23 | 6.23 | 6.23 | 6.23 | 6.23 | 6.23 | 6.23 | 6.23 | 6.23 |
Reserves | 5.16 | 5.81 | 6.91 | 12.23 | 14.44 | 14.80 | 15.61 | 16.58 | 17.05 | 18.24 | 20.21 | 23.20 | 24.66 |
4.77 | 5.10 | 4.12 | 3.17 | 5.34 | 4.47 | 5.47 | 5.66 | 2.46 | 5.47 | 9.56 | 3.18 | 1.65 | |
2.11 | 2.36 | 1.46 | 3.71 | 1.75 | 1.91 | 2.15 | 2.47 | 2.83 | 2.72 | 2.29 | 2.02 | 2.41 | |
Total Liabilities | 16.80 | 18.03 | 17.46 | 25.27 | 27.76 | 27.41 | 29.46 | 30.94 | 28.57 | 32.66 | 38.29 | 34.63 | 34.95 |
2.04 | 3.35 | 3.75 | 6.29 | 6.50 | 5.99 | 5.85 | 6.87 | 7.12 | 6.47 | 6.29 | 6.74 | 7.01 | |
CWIP | 0.29 | 0.00 | 0.00 | 0.13 | 0.00 | 0.04 | 0.00 | 0.00 | 0.04 | 0.00 | 0.01 | 0.00 | 0.00 |
Investments | 0.03 | 0.03 | 0.18 | 0.02 | 0.79 | 0.76 | 0.47 | 0.44 | 0.21 | 0.32 | 0.54 | 0.51 | 0.67 |
14.44 | 14.65 | 13.53 | 18.83 | 20.47 | 20.62 | 23.14 | 23.63 | 21.20 | 25.87 | 31.45 | 27.38 | 27.27 | |
Total Assets | 16.80 | 18.03 | 17.46 | 25.27 | 27.76 | 27.41 | 29.46 | 30.94 | 28.57 | 32.66 | 38.29 | 34.63 | 34.95 |
Cash Flows
Figures in Rs. Crores
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
1.00 | 1.38 | 2.95 | -3.25 | 0.02 | -0.50 | -0.25 | 1.54 | 4.38 | -2.42 | -3.90 | 7.50 | |
-0.26 | -1.23 | -0.61 | -2.83 | -1.34 | -0.36 | 0.20 | -1.43 | -0.81 | 0.39 | -0.34 | -0.85 | |
-0.10 | -0.15 | -1.08 | 5.98 | 1.63 | -1.38 | 0.29 | -0.49 | -3.66 | 2.63 | 3.63 | -6.84 | |
Net Cash Flow | 0.64 | 0.00 | 1.26 | -0.09 | 0.31 | -2.24 | 0.25 | -0.38 | -0.09 | 0.60 | -0.61 | -0.19 |
Ratios
Figures in Rs. Crores
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 81.29 | 85.84 | 91.96 | 98.42 | 98.68 | 108.52 | 100.63 | 79.96 | 80.21 | 110.19 | 81.19 | 60.42 |
Inventory Days | 92.83 | 114.10 | 71.02 | 83.30 | 109.50 | 104.14 | 76.68 | 64.62 | 69.48 | 103.07 | 74.58 | 46.29 |
Days Payable | 10.86 | 16.08 | 9.65 | 16.11 | 3.83 | 8.80 | 12.71 | 13.05 | 14.11 | 8.65 | 0.90 | 0.10 |
Cash Conversion Cycle | 163.26 | 183.86 | 153.33 | 165.61 | 204.35 | 203.87 | 164.60 | 131.53 | 135.57 | 204.61 | 154.87 | 106.62 |
Working Capital Days | 160.53 | 179.10 | 171.01 | 219.88 | 253.98 | 251.58 | 215.76 | 161.30 | 145.33 | 211.41 | 157.73 | 108.38 |
ROCE % | 20.44% | 13.64% | 8.84% | 10.01% | 8.79% | 7.42% | 5.19% | 9.00% | 4.65% | 8.19% | 9.58% | 13.50% |
Documents
Announcements
- COMPLIANCE CERTIFICATE ISSUED BY PCS UNDER REG 40 FYE 31.3.2024 2d
- Compliance Certificate Issued By RTA And Company Secretary FYE 31.3.2024 18 Apr
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
18 Apr - Compliance Certificate issued by RTA FQE 31.3.2024 - DP Compliance
- Postal Ballot Notice Dated 29.03.2024 To Be Sent To Shareholders 4 Apr
- Shareholder Meeting / Postal Ballot-Notice of Postal Ballot 1 Apr
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Financial Year 2009
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Business Overview:[1][2]
Company is registered under MSME category. Company supplies Welding Consumables under the brand name RASI. Its products primarily fall into 2 categories viz., electrodes and copper coated mild steel wires – both of which are used in welding. Company also has plans to enter agro-trading business in future which is likely to be funded through internal accruals