Rasandik Engineering Industries India Ltd

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Rasandik Engineering Industries India Ltd

₹ 56.2 -4.81%
23 Sep - close price
rasandik.com BSE: 522207
About

Incorporated in 1986, Rasandik Engineering Industries India Ltd manufactures sheet metal components and electric 3 wheelers (L-5).[1]

Key Points

Business Overview:[1][2]
REIIL provides engineering solutions specializing in the design and manufacturing of sheet metal components and assemblies for the automobile industry, including dead axles, suspension parts, skin panels, fuel tanks, and motorcycle frames. The company has also developed multiple electric three-wheeler (E-Auto) models under its own brand, Samrat, establishing itself as an OEM in the EV space. Going forward, REIIL's primary focus is on accelerating the growth of its electric vehicle business, particularly in the Three-Wheeler (L-5) category.

Website BSE
  • Market Cap ₹ 33.6 Cr.
  • Current Price ₹ 56.2
  • High / Low ₹ 92.4 / 47.0
  • Stock P/E
  • Book Value ₹ 150
  • Dividend Yield 0.00 %
  • ROCE -3.44 %
  • ROE -7.33 %
  • Face Value ₹ 10.0
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Pros

  • Stock is trading at 0.38 times its book value
  • Company is expected to give good quarter

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -13.2% over past five years.
  • Company has a low return on equity of -10.8% 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

Consumer Discretionary Automobile and Auto Components Auto Components Auto Components & Equipments

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
27.51 21.89 17.88 18.96 17.86 16.30 14.36 13.65 13.87 12.63 22.16 19.02 17.60
27.32 22.56 22.19 21.90 20.23 17.48 13.27 13.02 13.23 12.67 21.32 19.33 16.85
Operating Profit 0.19 -0.67 -4.31 -2.94 -2.37 -1.18 1.09 0.63 0.64 -0.04 0.84 -0.31 0.75
OPM % 0.69% -3.06% -24.11% -15.51% -13.27% -7.24% 7.59% 4.62% 4.61% -0.32% 3.79% -1.63% 4.26%
2.11 9.06 0.00 18.79 6.53 0.00 -9.25 0.21 0.00 0.05 0.04 0.08 0.05
Interest 3.07 2.63 2.23 1.51 0.95 0.89 0.60 0.70 0.74 0.64 0.65 0.60 0.58
Depreciation 1.61 1.61 1.74 1.18 1.48 1.21 1.73 1.52 1.38 1.34 1.32 1.19 1.17
Profit before tax -2.38 4.15 -8.28 13.16 1.73 -3.28 -10.49 -1.38 -1.48 -1.97 -1.09 -2.02 -0.95
Tax % -16.81% 34.22% -23.31% 3.27% 15.61% -14.02% -70.16% -20.29% -24.32% 8.63% -23.85% 29.21% -24.21%
-1.99 2.73 -6.35 12.73 1.46 -2.82 -3.12 -1.11 -1.12 -2.13 -0.83 -2.60 -0.71
EPS in Rs -3.33 4.57 -10.63 21.31 2.44 -4.72 -5.22 -1.86 -1.87 -3.56 -1.39 -4.35 -1.19
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
205.87 194.06 213.75 237.81 265.60 206.57 136.51 206.00 149.55 85.99 62.01 67.44 71.41
188.01 173.76 189.60 211.30 240.25 202.49 123.09 190.59 140.97 93.72 63.84 66.30 70.17
Operating Profit 17.86 20.30 24.15 26.51 25.35 4.08 13.42 15.41 8.58 -7.73 -1.83 1.14 1.24
OPM % 8.68% 10.46% 11.30% 11.15% 9.54% 1.98% 9.83% 7.48% 5.74% -8.99% -2.95% 1.69% 1.74%
16.17 8.71 13.46 5.38 7.80 1.55 2.44 0.74 4.47 29.96 -2.51 0.17 0.22
Interest 14.70 17.76 20.10 16.52 12.57 11.22 9.95 11.46 10.68 9.44 3.14 2.63 2.47
Depreciation 14.23 13.06 13.95 13.85 14.06 13.11 13.34 8.38 7.09 6.15 5.93 5.23 5.02
Profit before tax 5.10 -1.81 3.56 1.52 6.52 -18.70 -7.43 -3.69 -4.72 6.64 -13.41 -6.55 -6.03
Tax % -17.25% -162.43% -38.48% 17.11% 55.37% -82.30% -22.21% -26.29% -30.08% -7.23% -58.39% 2.29%
5.97 1.14 4.93 1.27 2.90 -3.32 -5.77 -2.71 -3.30 7.13 -5.58 -6.69 -6.27
EPS in Rs 12.63 2.41 10.43 2.69 4.85 -5.56 -9.66 -4.54 -5.52 11.93 -9.34 -11.20 -10.49
Dividend Payout % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years: -10%
5 Years: -13%
3 Years: -23%
TTM: 23%
Compounded Profit Growth
10 Years: %
5 Years: -4%
3 Years: 2%
TTM: -675%
Stock Price CAGR
10 Years: 0%
5 Years: -6%
3 Years: -14%
1 Year: -38%
Return on Equity
10 Years: -5%
5 Years: -9%
3 Years: -11%
Last Year: -7%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 4.73 4.73 4.73 4.73 5.98 5.98 5.98 5.98 5.98 5.98 5.98 5.98
Reserves 20.44 21.58 72.85 76.21 101.24 98.05 92.36 89.80 87.14 94.72 89.44 83.43
130.55 137.88 130.05 115.26 94.35 81.26 89.51 87.57 76.35 40.44 24.75 22.15
108.67 80.29 110.35 99.91 101.13 70.17 68.89 67.51 59.50 46.78 39.01 38.65
Total Liabilities 264.39 244.48 317.98 296.11 302.70 255.46 256.74 250.86 228.97 187.92 159.18 150.21
143.65 132.50 207.99 208.63 198.81 186.50 174.37 167.30 145.88 131.02 124.85 119.75
CWIP 37.38 29.28 15.65 6.30 5.78 4.62 3.75 3.34 0.10 0.08 3.39 3.39
Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
83.36 82.70 94.34 81.18 98.11 64.34 78.62 80.22 82.99 56.82 30.94 27.07
Total Assets 264.39 244.48 317.98 296.11 302.70 255.46 256.74 250.86 228.97 187.92 159.18 150.21

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
-10.64 7.25 24.94 36.72 9.95 24.45 2.57 12.05 13.31 2.40 4.65 2.22
-3.85 -1.42 -2.91 -4.86 -2.56 -0.65 -0.11 0.59 8.10 42.55 13.76 2.25
14.32 -11.76 -22.13 -29.77 -9.62 -23.76 -2.39 -12.93 -21.41 -44.93 -18.45 -4.43
Net Cash Flow -0.17 -5.93 -0.10 2.10 -2.23 0.04 0.06 -0.30 0.00 0.02 -0.04 0.03
Free Cash Flow -15.20 5.54 22.53 31.59 7.87 23.99 2.24 11.17 21.56 44.86 18.28 4.36
CFO/OP -58% 38% 106% 141% 45% 564% 18% 79% 153% -31% -242% 209%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 34.13 36.04 38.88 41.90 47.37 26.33 50.70 29.38 28.46 26.44 23.72 22.19
Inventory Days 115.45 130.44 130.49 91.88 106.75 105.61 203.07 128.40 156.65 179.91 167.54 123.37
Days Payable 58.98 63.56 89.80 76.57 78.78 65.99 103.96 57.80 56.14 67.59 109.45 72.76
Cash Conversion Cycle 90.60 102.91 79.58 57.21 75.34 65.95 149.80 99.98 128.97 138.77 81.81 72.80
Working Capital Days -111.25 -107.87 -85.28 -81.85 -39.39 -74.46 -66.44 -45.80 -81.52 -46.56 -67.34 -67.65
ROCE % 14.25% 9.93% 12.76% 8.93% 9.54% -3.87% 1.35% 4.18% 1.15% -8.27% -5.56% -3.44%

Insights

In beta
Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Installed Capacity - Sheet Metal Components
MT

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Installed Capacity - Tailor Welded Blanks
MT
Number of Operational Plants
count
Permanent Employees on Rolls
count
Maruti Suzuki (MSIL) Share of Revenue
%
Sheet Metal Revenue Share
%
Tailor Welded Blanks (TWB) Revenue Share
%
Top 5 Customer Share of Sales
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
53.10% 53.10% 53.10% 53.10% 53.10% 53.10% 53.10% 53.10% 53.10% 53.10% 53.10% 53.10%
1.10% 1.10% 1.10% 1.10% 1.10% 1.10% 1.10% 1.10% 1.10% 1.10% 1.10% 1.10%
0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.00%
45.74% 45.75% 45.75% 45.73% 45.74% 45.75% 45.74% 45.75% 45.74% 45.74% 45.74% 45.80%
No. of Shareholders 5,0885,1355,1835,2025,2625,2875,2145,2515,3795,3385,2915,239

* 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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Concalls

  • Dec 2017
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