Royal India Corporation Ltd
Incorporated in 1984, Royal India Corporation Ltd is in the business of selling Gold & Gold related products[1]
- Market Cap ₹ 82.5 Cr.
- Current Price ₹ 6.99
- High / Low ₹ 31.0 / 5.81
- Stock P/E 5.16
- Book Value ₹ 8.68
- Dividend Yield 0.00 %
- ROCE 10.7 %
- ROE 38.9 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Stock is trading at 0.81 times its book value
- Company has delivered good profit growth of 22.1% CAGR over last 5 years
- Debtor days have improved from 620 to 38.4 days.
- Promoter holding has increased by 4.47% over last quarter.
Cons
- Earnings include an other income of Rs.4.25 Cr.
- Promoter holding has decreased over last 3 years: -3.45%
* 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.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 132 | 162 | 184 | 284 | 102 | 126 | 201 | 2 | 2 | 37 | 29 | 220 | 175 | |
| 131 | 162 | 183 | 285 | 102 | 127 | 209 | 2 | 3 | 35 | 31 | 207 | 163 | |
| Operating Profit | 0 | 0 | 1 | -1 | -1 | -1 | -8 | 0 | -1 | 3 | -2 | 13 | 12 |
| OPM % | 0% | 0% | 0% | -0% | -1% | -1% | -4% | 8% | -62% | 7% | -8% | 6% | 7% |
| 0 | 0 | 0 | 3 | 0 | 1 | 0 | 0 | 0 | 1 | -2 | 3 | 4 | |
| Interest | 0 | 0 | 0 | 1 | 9 | 9 | 11 | 12 | 13 | 11 | 5 | 4 | -1 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 0 | 0 | 1 | 1 | -10 | -9 | -18 | -11 | -14 | -7 | -9 | 11 | 17 |
| Tax % | 0% | 37% | 39% | 55% | -28% | -30% | -17% | -31% | -42% | -45% | -9% | 6% | |
| 0 | 0 | 0 | 0 | -7 | -6 | -15 | -8 | -8 | -4 | -8 | 11 | 16 | |
| EPS in Rs | 0.06 | 0.10 | 0.19 | 0.16 | -3.01 | -2.61 | -6.60 | -3.35 | -3.45 | -1.61 | -3.57 | 0.99 | 1.45 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 3% |
| 5 Years: | 2% |
| 3 Years: | 399% |
| TTM: | 73% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 47% |
| 5 Years: | 22% |
| 3 Years: | 50% |
| TTM: | 346% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 49% |
| 3 Years: | 39% |
| 1 Year: | -72% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| Last Year: | 39% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| 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 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 109 | 118 |
| Reserves | 14 | 14 | 14 | 11 | 4 | -2 | -17 | -25 | -33 | -37 | -45 | -32 | -16 |
| 6 | 5 | 5 | 44 | 87 | 96 | 108 | 119 | 132 | 137 | 132 | 101 | 0 | |
| 17 | 10 | 55 | 145 | 201 | 221 | 32 | 31 | 31 | 41 | 41 | 47 | 43 | |
| Total Liabilities | 59 | 52 | 97 | 224 | 315 | 339 | 146 | 149 | 153 | 165 | 152 | 225 | 146 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 |
| 59 | 52 | 97 | 224 | 315 | 339 | 146 | 148 | 153 | 164 | 152 | 225 | 144 | |
| Total Assets | 59 | 52 | 97 | 224 | 315 | 339 | 146 | 149 | 153 | 165 | 152 | 225 | 146 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -7 | 7 | -2 | -35 | -38 | -14 | -10 | -11 | -11 | -1 | -2 | -23 | |
| 0 | -0 | 0 | -0 | -2 | -1 | 0 | 0 | -0 | -12 | 7 | -34 | |
| 7 | -6 | 0 | 35 | 41 | 14 | 10 | 11 | 12 | 14 | -5 | 57 | |
| Net Cash Flow | 0 | 2 | -2 | 0 | 2 | -1 | 1 | -0 | 0 | -0 | 0 | 0 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| 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 | 136 | 89 | 183 | 236 | 843 | 757 | 129 | 11,944 | 14,256 | 829 | 994 | 38 |
| Inventory Days | 25 | 0 | 2 | 16 | 213 | 164 | 110 | 55,255 | 548 | 545 | 226 | |
| Days Payable | 46 | 22 | 108 | 186 | 616 | 645 | 59 | 29,050 | 420 | 425 | 60 | |
| Cash Conversion Cycle | 114 | 66 | 78 | 66 | 440 | 275 | 180 | 11,944 | 40,461 | 957 | 1,114 | 204 |
| Working Capital Days | 114 | 76 | 72 | 88 | 345 | 295 | 169 | 15,681 | 18,689 | 837 | 991 | 183 |
| ROCE % | 0% | 1% | 2% | 4% | -0% | 0% | -7% | 0% | -1% | 3% | -4% | 11% |
Documents
Announcements
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 1d
-
Announcement under Regulation 30 (LODR)-Resignation of Director
2d - Ajay Singh Rajawat resigned as Executive Director effective 04-12-2025; no material reasons stated.
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
17 Nov - Extract of un-audited standalone and consolidated financial results if the Company for the quarter ended 30th September 2025 published in Financial Express and Mumbai Lakshadeep.
-
Board Meeting Outcome for Declaration Of Outcome Of The Board Meeting Held On November 14, 2025
14 Nov - Approved unaudited standalone and consolidated Q2/H1 results (30 Sep 2025); Ikerath Joseph Sam appointed.
-
Unaudited Standalone And Consolidated Financial Results For The Quarter And Half-Year Ended 30Th September, 2025
14 Nov - Unaudited standalone and consolidated Q2/H1 results for Sep 30, 2025; approved Nov 14, 2025.
Annual reports
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Financial Year 2025
from bse
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Financial Year 2024
from bse
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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
from bse
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Financial Year 2011
from bse
Business Overview:[1]
RICL is in the wholesale trading of:
a) Gold Bullion
b) Plain gold jewellery
c) Gold coins
d) Medallion
Business Verticals:[2]
a) Stone Mining:
The company has entered the mining sector through a 100% investment in Suryam India Minecorp Limited, targeting high-silica assets with applications across interiors, exteriors, cladding, landscaping, and design elements such as monuments and décor. These materials support export potential in glass, ceramics, refractories, cosmetics, abrasives, and electronics
b) Defence:
The company is foraying in the Defence sector for dealing in electronic warfare, drone technology (UAVs), Robotics & ML besides innovation in conventional warfare weaponry.
c) Gold:
The company is in the business of gold bar sale
d) Real Estate:
The company plans for a real-estate project in Kalyan, Maharashtra, by purchasing development rights for Kalyan Marina Project