Rajratan Global Wire Ltd

Rajratan Global Wire Ltd

₹ 581 -1.43%
28 Mar - close price
About

Rajratan Global Wire Ltd was established in 1989, it manufactures bead wire, high-carbon steel wire with specialisation in TBW, which is bronze-coated and used in tyres and drawn steel wire (known as black wire), used in automobile, construction and engineering industries. [1][2]

Key Points

Product Offerings
Tyre Bead wire: Used in all kinds of automobile tyres, tyres of earth-moving equipment, and aircraft. It prevents vibration during driving and is required for the safety, strength, and durability of tyres. [1]
High Carbon steel wire: Used in automobile, construction, and engineering industries. It is also known as a black wire.[2]

  • Market Cap 2,949 Cr.
  • Current Price 581
  • High / Low 920 / 578
  • Stock P/E 51.4
  • Book Value 63.8
  • Dividend Yield 0.34 %
  • ROCE 29.3 %
  • ROE 25.7 %
  • Face Value 2.00

Pros

  • Company has delivered good profit growth of 55.9% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 26.9%
  • Company has been maintaining a healthy dividend payout of 17.0%
  • Debtor days have improved from 77.6 to 62.0 days.
  • Company's working capital requirements have reduced from 63.4 days to 44.3 days

Cons

  • Stock is trading at 9.11 times its book value

* 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: Steel Industry: Steel - Medium / Small

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
103 117 118 141 136 144 166 152 133 161 141 138 138
86 94 94 112 108 117 130 125 107 132 117 113 116
Operating Profit 18 23 24 30 28 27 36 27 26 29 24 26 22
OPM % 17% 19% 20% 21% 20% 19% 22% 18% 19% 18% 17% 19% 16%
0 0 0 0 0 0 1 1 0 0 0 0 0
Interest 2 3 3 3 3 3 3 3 4 3 4 4 4
Depreciation 2 2 2 2 2 2 2 2 2 3 2 2 2
Profit before tax 14 18 20 25 23 22 31 22 20 24 18 20 16
Tax % 30% 11% 25% 29% 25% 15% 26% 27% 27% 27% 26% 26% 26%
10 16 15 18 17 19 23 16 15 17 13 15 12
EPS in Rs 1.91 3.24 2.91 3.49 3.39 3.75 4.51 3.14 2.89 3.43 2.57 2.91 2.40
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

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
183 197 232 239 207 177 218 315 286 337 540 612 578
163 176 210 218 182 156 199 281 240 275 431 494 477
Operating Profit 19 21 22 21 25 20 19 34 46 63 109 118 101
OPM % 11% 11% 10% 9% 12% 11% 9% 11% 16% 19% 20% 19% 17%
1 1 1 1 1 2 4 2 2 1 1 2 1
Interest 8 9 9 9 8 7 6 8 9 9 12 14 15
Depreciation 4 4 4 3 3 3 3 4 5 7 8 10 10
Profit before tax 9 10 10 10 15 12 13 24 33 47 90 97 78
Tax % 32% 31% 30% 33% 34% 32% 34% 23% 30% 22% 24% 27%
6 7 7 6 10 8 9 19 23 37 69 71 57
EPS in Rs 1.17 1.34 1.42 1.25 1.89 1.62 1.73 3.67 4.55 7.28 13.54 13.96 11.31
Dividend Payout % 9% 6% 6% 7% 5% 8% 7% 5% 9% 22% 15% 14%
Compounded Sales Growth
10 Years: 12%
5 Years: 23%
3 Years: 29%
TTM: -3%
Compounded Profit Growth
10 Years: 26%
5 Years: 56%
3 Years: 45%
TTM: -21%
Stock Price CAGR
10 Years: 55%
5 Years: 59%
3 Years: 55%
1 Year: -21%
Return on Equity
10 Years: 19%
5 Years: 24%
3 Years: 27%
Last Year: 26%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

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 4 4 4 4 4 4 4 10 10 10 10 10
Reserves 60 66 73 78 87 98 107 124 138 175 235 296 314
62 56 54 66 52 56 47 75 84 83 85 117 162
22 30 39 39 18 15 22 42 39 45 82 99 107
Total Liabilities 148 156 170 187 161 173 180 245 271 313 412 522 593
47 44 43 41 40 49 50 78 116 127 167 185 181
CWIP 1 0 0 0 3 1 4 19 10 7 17 101 153
Investments 24 28 34 39 39 39 38 38 38 51 51 51 51
77 84 93 107 80 84 88 110 107 128 177 186 208
Total Assets 148 156 170 187 161 173 180 245 271 313 412 522 593

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
17 15 17 8 14 19 18 29 33 32 85 105
-5 -5 -8 -7 -5 -7 -5 -48 -34 -28 -69 -114
-10 -7 -14 3 -12 -13 -12 19 1 -2 -18 9
Net Cash Flow 2 4 -5 4 -3 -0 1 1 -0 2 -2 -0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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 91 95 103 100 82 103 88 71 78 94 76 62
Inventory Days 38 30 33 44 42 43 41 43 50 44 39 46
Days Payable 30 51 63 60 19 15 25 43 47 47 71 67
Cash Conversion Cycle 99 74 73 84 105 131 104 71 81 91 44 40
Working Capital Days 94 80 84 83 87 122 94 59 72 89 56 44
ROCE % 14% 15% 15% 13% 16% 13% 11% 18% 19% 23% 34% 29%

Shareholding Pattern

Numbers in percentages

2 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
65.00% 65.00% 65.00% 65.00% 65.00% 65.00% 65.01% 65.01% 65.10% 65.10% 65.10% 65.10%
0.00% 0.02% 0.00% 0.01% 0.00% 0.00% 0.18% 0.53% 0.62% 0.68% 0.65% 0.73%
9.53% 9.21% 8.70% 8.55% 8.06% 8.04% 8.01% 8.15% 8.03% 8.28% 8.42% 8.69%
25.47% 25.77% 26.29% 26.44% 26.93% 26.96% 26.81% 26.31% 26.23% 25.95% 25.83% 25.48%
No. of Shareholders 6,1478,33416,45817,97926,71034,76260,37670,06472,33075,94378,08673,913

* 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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Documents

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