R J Shah & Company Ltd

₹ 528 0.00%

24 Dec 2025

About

Incorporated in 1957, R.J. Shah & Company Ltd provides Engineering and Construction services^[1]

Key Points

Business Overview:^[1]^[2]
RJSCL is engaged in construction of small and medium size Hydroelectric Project with EPC contract or civil work with Hydro Mechanical works since last several years. It specializes in underground works of tunnels, cavern shafts, inclined tunnels with government and semi governments or various Electricity Boards, Railways, Atomic power Station, Irrigation etc, and receives work receipts is mainly for these works.The company has been instrumental in adding electrical generation of 800 MW+ power in India

Website BSE

Market Cap ₹ 14.8 Cr.
Current Price ₹ 528
High / Low ₹ 660 / 422
Stock P/E 2.56
Book Value ₹ 1,463
Dividend Yield 0.47 %
ROCE 20.0 %
ROE 15.1 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Stock is trading at 0.36 times its book value

Cons

Company has a low return on equity of 6.84% over last 3 years.
Contingent liabilities of Rs.22.4 Cr.
Earnings include an other income of Rs.2.17 Cr.
Company has high debtors of 358 days.
Working capital days have increased from -37.8 days to 262 days

* 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

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	0.27	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	10.46	0.00	0.00	0.00
	0.37	0.00	0.31	0.27	0.35	-0.20	0.30	0.17	0.24	3.64	0.36	0.51	0.15
Operating Profit	-0.10	0.01	-0.31	-0.27	-0.35	0.20	-0.30	-0.17	-0.24	6.82	-0.36	-0.51	-0.15
OPM %	-37.04%	100.00%								65.20%
	0.30	0.53	0.49	0.54	0.56	3.77	0.51	0.42	0.44	0.42	0.64	0.60	0.51
Interest	0.03	0.03	0.00	0.06	0.03	0.04	0.03	0.03	0.04	0.03	0.03	0.04	0.03
Depreciation	0.02	0.03	0.01	0.03	0.01	0.01	0.02	0.02	0.02	0.02	0.02	0.02	0.02
Profit before tax	0.15	0.48	0.17	0.18	0.17	3.92	0.16	0.20	0.14	7.19	0.23	0.03	0.31
Tax %	40.00%	25.00%	29.41%	22.22%	29.41%	14.29%	25.00%	25.00%	28.57%	25.45%	26.09%	66.67%	25.81%
	0.10	0.37	0.11	0.14	0.12	3.37	0.12	0.16	0.11	5.37	0.18	0.01	0.22
EPS in Rs	3.57	13.21	3.93	5.00	4.28	120.31	4.28	5.71	3.93	191.72	6.43	0.36	7.85
Raw PDF

Profit & Loss

Figures in Rs. Crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	3.19	2.60	0.81	14.54	0.00	4.40	15.62	0.00	0.00	0.27	0.00	10.46	10.46
	2.87	2.17	1.03	8.54	0.47	1.53	9.36	1.09	1.00	1.01	0.72	4.33	4.66
Operating Profit	0.32	0.43	-0.22	6.00	-0.47	2.87	6.26	-1.09	-1.00	-0.74	-0.72	6.13	5.80
OPM %	10.03%	16.54%	-27.16%	41.27%		65.23%	40.08%			-274.07%		58.60%	55.45%
	0.63	0.64	0.68	1.18	1.24	1.23	2.37	2.01	1.98	1.75	5.36	1.79	2.17
Interest	0.14	0.14	0.14	0.14	0.14	0.14	0.14	0.14	0.14	0.14	0.14	0.14	0.13
Depreciation	0.13	0.24	0.18	0.14	0.13	0.11	0.08	0.07	0.07	0.07	0.06	0.07	0.08
Profit before tax	0.68	0.69	0.14	6.90	0.50	3.85	8.41	0.71	0.77	0.80	4.44	7.71	7.76
Tax %	32.35%	31.88%	28.57%	33.19%	24.00%	28.05%	25.45%	26.76%	28.57%	26.25%	15.99%	25.29%
	0.46	0.47	0.10	4.61	0.38	2.77	6.28	0.52	0.55	0.58	3.74	5.75	5.78
EPS in Rs	16.42	16.78	3.57	164.58	13.57	98.89	224.21	18.56	19.64	20.71	133.52	205.28	206.36
Dividend Payout %	9.13%	8.94%	28.00%	6.07%	11.05%	5.05%	4.46%	13.46%	12.73%	12.07%	1.87%	1.22%

Compounded Sales Growth
10 Years:	15%
5 Years:	-8%
3 Years:	%
TTM:	%

Compounded Profit Growth
10 Years:	28%
5 Years:	-2%
3 Years:	123%
TTM:	54%

Stock Price CAGR
10 Years:	%
5 Years:	%
3 Years:	9%
1 Year:	6%

Return on Equity
10 Years:	8%
5 Years:	5%
3 Years:	7%
Last Year:	15%

Balance Sheet

Figures in Rs. Crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	0.28	0.28	0.28	0.28	0.28	0.28	0.28	0.28	0.28	0.28	0.28	0.28	0.28
Reserves	15.73	16.07	16.12	21.34	21.36	24.05	30.14	30.37	30.82	31.32	34.96	40.59	40.70
	1.23	1.23	1.23	1.23	1.23	1.23	1.23	1.23	1.23	1.23	1.23	1.23	1.23
	2.23	2.18	1.87	1.31	1.39	1.12	0.59	0.31	0.21	0.25	5.08	2.66	2.24
Total Liabilities	19.47	19.76	19.50	24.16	24.26	26.68	32.24	32.19	32.54	33.08	41.55	44.76	44.45
	1.44	1.09	0.88	1.35	1.21	1.07	0.92	0.84	0.77	0.97	0.78	0.73	0.69
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.02	0.02	0.03	0.02	0.02	0.02	0.02	0.02	0.00	0.00	0.50	0.50	0.50
	18.01	18.65	18.59	22.79	23.03	25.59	31.30	31.33	31.77	32.11	40.27	43.53	43.26
Total Assets	19.47	19.76	19.50	24.16	24.26	26.68	32.24	32.19	32.54	33.08	41.55	44.76	44.45

Cash Flows

Figures in Rs. Crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-0.39	-0.65	-0.57	8.10	-0.90	1.67	9.85	-1.58	-1.97	-1.06	-4.63	-1.80
	0.72	0.65	0.67	0.99	1.23	1.19	2.39	2.00	1.98	1.41	4.89	1.76
	-0.04	-0.04	-0.04	-0.16	-0.34	-0.19	-0.30	-0.42	-0.21	-0.21	-0.21	-0.21
Net Cash Flow	0.29	-0.05	0.06	8.92	-0.01	2.67	11.93	0.01	-0.19	0.15	0.05	-0.25

Ratios

Figures in Rs. Crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	561.80	685.08	1,996.23	0.00		0.00	0.00			0.00		358.02
Inventory Days							21.90					0.00
Days Payable							0.66
Cash Conversion Cycle	561.80	685.08	1,996.23	0.00		0.00	21.24			0.00		358.02
Working Capital Days	738.01	986.90	3,158.83	75.31		320.20	-26.41			-337.96		262.41
ROCE %	4.80%	4.77%	1.53%	34.78%	2.80%	16.48%	29.75%	2.68%	2.68%	2.61%	2.97%	19.98%

Insights

In beta

Mar 2016

Mar 2017

Mar 2018

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Median Remuneration Growth Rate
%

x.xx	xx.xx	xx.xx		-xx.xx	-xx.xx	xx.xx
xx,xxx	xx,xxx	x		x	xx	xx
xxx	xxx	xxx	xx	xx	xx
xxx.xx	x,xxx,xxx.xx			xxx.xx	xxx.xx	x.xx

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Number of Confirmed Employees
Number

Rooftop Solar Panel Capacity
kW

Historical Power Contribution to National Grid
MW

Shareholding Pattern

Numbers in percentages

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	52.52%	52.52%	52.52%	52.52%	52.52%	52.52%	52.52%	52.52%	52.52%	52.52%	52.52%	52.89%
	1.79%	1.79%	1.79%	1.79%	1.79%	1.79%	1.79%	1.79%	1.79%	1.79%	1.79%	1.79%
	45.69%	45.69%	45.68%	45.69%	45.69%	45.69%	45.70%	45.69%	45.70%	45.70%	45.69%	45.32%
No. of Shareholders	252	238	235	247	249	242	248	243	248	249	246	240

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Dec 2025
	52.52%	52.52%	52.52%	52.52%	52.52%	52.52%	52.52%	52.52%	52.52%	52.89%
	1.79%	1.79%	1.79%	1.79%	1.79%	1.79%	1.79%	1.79%	1.79%	1.79%
	45.70%	45.70%	45.70%	45.70%	45.70%	45.70%	45.69%	45.69%	45.70%	45.32%
No. of Shareholders	348	347	295	251	250	254	252	249	248	240

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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R J Shah & Company Ltd

R J Shah & Company Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

Documents

Announcements

Annual reports