Rasandik Engineering Industries India Ltd

Rasandik Engg. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Rasandik Engineering Industries India Ltd

₹ 72.3 -1.05%
05 Jun 3:40 p.m.
rasandik.com BSE: 522207
About

Incorporated in 1986, Rasandik Engineering Industries Ltd is a manufacturer of critical engineering components for autos, household goods (HPD), etc.

Key Points

Business Overview:[1][2]
Company provides engineering solutions, designing and manufacturing delivery of sheet metal components and assemblies
to automobile industry. Company manufactures sheet metal components, press tools and dies for high tensile application in Heavy Commercial Vehicle (HCV), Light Commercial Vehicle (LCV), Passenger Vehicle (PV), tractors and 2-wheeler industry, heavy fabrication for railways. At present, company has 5 divisions viz.
a) Laser Tailor-Welded Blanks
b) Home Product
c) Press Tool Engineering Solutions and Components Manufacturing
d) Electric Vehicles
e) Railway and Heavy Fabrication Division

Product Profile:
a) Tailored Welding Blanks:[3] TWB Parts viz., Shot Gun, Door Inner, Longitudinal Member, Front Tunnel, Three Piece Door
b) Engineering Solutions:[4] Hyperform Draw Analysis, Tractor Body Parts, Point Cloud Data, Surface Model, MUV Wire Frame, hood for MUV
c) Tools & Dies:[5] Skin & Inner Body Components viz. Door Outer, Bonnet Outer, Front Fender, NHTL - Panel Assy. Hood, Renault - Tractor Bonnet, Wheel Arch Inner, Body Chain Case, GM - Extension Reinforcement, G M - Sun Roof
d) BIW Parts:[6] Parts and subassemblies for body-in-white, class A surfaces and closure panels
e) Suspension Parts:[7]
Design and manufacture of structural components of suspension systems, suspension parts and sub-assemblies
f) Fuel Tanks:[8]
Company is a major supplier of fuel tanks
to Indian automobile industry
g) Exhaust Line & CNC Bending:[9] Exhaust Systems for HML - Ambassador Contessa, RTV and ITL - Sonalika Tractor
h) Scissor Jack:[10] 0.7 T, 1.0 T, 1.5T, 2.0T
i) White Goods:[11]
Air-conditioner body stampings and assemblies, refrigerator body stampings and washing machine body stampings

Website BSE
  • Market Cap ₹ 43.2 Cr.
  • Current Price ₹ 72.3
  • High / Low ₹ 133 / 53.0
  • Stock P/E
  • Book Value ₹ 156
  • Dividend Yield 0.00 %
  • ROCE 4.46 %
  • ROE -1.47 %
  • Face Value ₹ 10.0
Edit ratios

Pros

  • Stock is trading at 0.47 times its book value
  • Debtor days have improved from 36.2 to 28.4 days.
  • Company's working capital requirements have reduced from 78.4 days to 59.7 days

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -8.80% over past five years.
  • Company has a low return on equity of -3.38% over last 3 years.
  • Earnings include an other income of Rs.4.47 Cr.

* 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: Auto Ancillaries Industry: Auto Ancillaries

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
39.02 8.72 33.37 39.39 55.36 43.20 52.42 53.73 57.24 53.35 43.08 26.84 26.75
41.33 8.82 30.57 35.29 48.84 39.61 48.54 50.24 52.97 48.56 39.59 26.52 26.77
Operating Profit -2.31 -0.10 2.80 4.10 6.52 3.59 3.88 3.49 4.27 4.79 3.49 0.32 -0.02
OPM % -5.92% -1.15% 8.39% 10.41% 11.78% 8.31% 7.40% 6.50% 7.46% 8.98% 8.10% 1.19% -0.07%
0.54 0.02 0.27 0.10 2.04 0.18 0.16 0.00 0.40 0.01 4.75 0.12 -0.41
Interest 2.72 2.26 2.59 2.46 2.52 2.70 2.98 2.89 2.71 2.55 2.79 2.53 2.81
Depreciation 3.27 3.27 3.36 3.38 3.33 3.18 1.13 2.07 2.00 1.82 1.84 1.64 1.78
Profit before tax -7.76 -5.61 -2.88 -1.64 2.71 -2.11 -0.07 -1.47 -0.04 0.43 3.61 -3.73 -5.02
Tax % 93.69% 25.85% 22.92% 26.83% 33.21% 24.64% 28.57% 24.49% 175.00% 25.58% 21.88% 25.20% 27.49%
Net Profit -0.49 -4.16 -2.21 -1.20 1.81 -1.58 -0.05 -1.11 0.03 0.32 2.81 -2.79 -3.64
EPS in Rs -0.82 -6.96 -3.70 -2.01 3.03 -2.64 -0.08 -1.86 0.05 0.54 4.70 -4.67 -6.09
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
221 241 189 206 194 214 238 266 207 137 206 150
204 208 167 188 174 190 211 240 202 123 191 141
Operating Profit 17 33 22 18 20 24 27 25 4 13 15 9
OPM % 8% 14% 12% 9% 10% 11% 11% 10% 2% 10% 7% 6%
1 1 1 16 9 13 5 8 2 2 1 4
Interest 17 16 16 15 18 20 17 13 11 10 11 11
Depreciation 13 13 14 14 13 14 14 14 13 13 8 7
Profit before tax -13 4 -8 5 -2 4 2 7 -19 -7 -4 -5
Tax % -11% 24% 27% -17% 162% -38% 17% 55% 82% 22% 26% 30%
Net Profit -14 3 -5 6 1 5 1 3 -3 -6 -3 -3
EPS in Rs -29.33 6.79 -11.62 12.63 2.41 10.43 2.69 4.85 -5.56 -9.66 -4.54 -5.52
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: -5%
5 Years: -9%
3 Years: -10%
TTM: -27%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 17%
TTM: 49%
Stock Price CAGR
10 Years: 14%
5 Years: -16%
3 Years: 26%
1 Year: -21%
Return on Equity
10 Years: 0%
5 Years: -2%
3 Years: -3%
Last Year: -1%

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
5 5 5 5 5 5 5 6 6 6 6 6
Reserves 17 20 15 20 22 73 76 101 98 92 90 87
98 96 102 131 138 130 115 94 81 90 88 76
163 163 151 109 80 110 100 101 70 69 68 56
Total Liabilities 283 284 273 264 244 318 296 303 255 257 251 225
170 162 159 144 132 208 209 199 186 174 167 146
CWIP 36 39 39 37 29 16 6 6 5 4 3 0
Investments 0 0 0 0 0 0 0 0 0 0 0 0
78 83 75 83 83 94 81 98 64 79 80 79
Total Assets 283 284 273 264 244 318 296 303 255 257 251 225

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
38 22 11 -11 7 25 37 10 24 3 12
-26 -5 -4 -4 -1 -3 -5 -3 -1 -0 1
-18 -17 -4 14 -12 -22 -30 -10 -24 -2 -13
Net Cash Flow -5 -0 3 -0 -6 -0 2 -2 0 0 -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 41 39 41 34 36 39 42 47 26 51 29 28
Inventory Days 84 91 105 115 130 130 92 107 106 203 128 143
Days Payable 110 93 78 59 64 90 77 79 66 104 58 56
Cash Conversion Cycle 14 37 68 91 103 80 57 75 66 150 100 115
Working Capital Days -115 -95 -120 -20 2 10 9 39 22 102 74 60
ROCE % 4% 17% 7% 14% 10% 13% 9% 10% -4% 1% 4% 4%

Shareholding Pattern

Numbers in percentages

Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
46.30 46.30 46.52 49.92 49.92 53.10 53.10 53.10 53.10 53.10 53.10 53.10
0.00 1.26 1.26 1.26 1.26 1.26 1.26 1.10 1.10 1.10 1.10 1.10
1.31 0.05 0.05 0.05 0.05 0.05 0.05 0.06 0.06 0.05 0.05 0.05
52.40 52.40 52.17 48.77 48.77 45.59 45.59 45.74 45.74 45.75 45.74 45.74

* 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.

Click on the line-items to see the names of individual entities.

Documents

Announcements

Annual reports

Credit ratings

Concalls

  • Dec 2017
    Transcript
    Notes
    PPT