Rajoo Engineers Ltd

About

Rajoo Engineers Limited was incorporated in 1986 and is promoted by Mr. C.N. Doshi and Mr. R.N. Doshi. It manufactures plastic-extrusion machinery in Gujarat. The company designs and manufactures machines and offers customised solutions as per customer's requirement.
The head office of the co. is in Gujarat.[1]

Key Points

Products & Platforms
Mono & Multilayer Blown Film Lines: Foilextm, etc.
Mono & Multilayer Extrusion Coating & Lamination Line: Lamextm
Cross Lamination Film Line: Multifoil -X, etc. [1] [2] [3]

See full details
  • Market Cap 150 Cr.
  • Current Price 24.4
  • High / Low 35.5 / 8.75
  • Stock P/E 14.9
  • Book Value 12.8
  • Dividend Yield 0.00 %
  • ROCE 20.0 %
  • ROE 14.1 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Debtor days have improved from 40.08 to 27.24 days.

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 7.34% over past five years.
  • Company has a low return on equity of 9.70% for last 3 years.

Peer comparison

Sector: Engineering Industry: Engineering

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
24.73 30.36 37.48 19.71 21.10 26.82 25.91 24.44 29.32 42.16 56.10 32.93
22.38 24.14 34.22 17.86 19.07 24.73 24.56 21.51 25.16 36.77 50.06 30.92
Operating Profit 2.35 6.22 3.26 1.85 2.03 2.09 1.35 2.93 4.16 5.39 6.04 2.01
OPM % 9.50% 20.49% 8.70% 9.39% 9.62% 7.79% 5.21% 11.99% 14.19% 12.78% 10.77% 6.10%
Other Income 0.79 0.07 0.04 0.07 0.06 0.13 -0.12 0.15 0.16 0.33 0.17 0.46
Interest 0.73 0.69 0.40 0.67 0.51 0.46 0.45 0.29 0.30 0.23 0.17 0.10
Depreciation 0.93 0.97 0.94 0.95 0.95 0.95 0.93 0.88 0.87 0.86 0.84 0.85
Profit before tax 1.48 4.63 1.96 0.30 0.63 0.81 -0.15 1.91 3.15 4.63 5.20 1.52
Tax % 39.19% 25.70% -41.33% 20.00% 25.40% 24.69% 193.33% 27.23% 24.76% 28.73% 35.58% 30.26%
Net Profit 0.90 3.44 2.78 0.25 0.46 0.62 0.14 1.39 2.36 3.30 3.35 1.06
EPS in Rs 0.15 0.56 0.45 0.04 0.07 0.10 0.02 0.23 0.38 0.54 0.54 0.17

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
73 75 79 91 101 117 107 111 145 122 93 152 161
66 70 72 85 93 106 97 99 124 108 86 134 143
Operating Profit 7 5 7 5 8 11 10 12 21 14 7 19 18
OPM % 9% 7% 9% 6% 7% 9% 9% 11% 15% 12% 8% 12% 11%
Other Income 1 3 0 0 0 0 0 1 1 1 0 1 1
Interest 0 1 2 1 1 0 0 1 1 2 2 1 1
Depreciation 1 2 2 2 2 3 3 2 3 4 4 3 3
Profit before tax 7 6 4 3 5 8 7 10 18 9 2 15 14
Tax % 34% 34% 31% 33% 33% 32% 35% 36% 34% 15% 9% 30%
Net Profit 4 4 3 2 3 5 5 6 12 8 1 10 10
EPS in Rs 1.30 1.01 0.76 0.46 0.60 0.90 0.79 1.08 1.96 1.28 0.24 1.69 1.63
Dividend Payout % 22% 28% 37% 30% 34% 28% 32% 23% 13% 8% 0% 0%
Compounded Sales Growth
10 Years:7%
5 Years:7%
3 Years:2%
TTM:63%
Compounded Profit Growth
10 Years:11%
5 Years:17%
3 Years:-5%
TTM:286%
Stock Price CAGR
10 Years:9%
5 Years:7%
3 Years:-7%
1 Year:178%
Return on Equity
10 Years:13%
5 Years:13%
3 Years:10%
Last Year:14%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
3 4 4 4 6 6 6 6 6 6 6 6
Reserves 15 20 22 23 25 28 31 38 54 60 61 72
Borrowings 2 13 18 19 0 4 7 7 15 19 8 3
26 23 25 17 44 35 34 55 74 42 65 64
Total Liabilities 47 59 68 62 74 74 78 105 149 127 141 146
15 19 17 17 20 20 18 29 47 47 43 41
CWIP 0 0 0 0 0 2 6 1 2 1 2 2
Investments 0 0 1 1 6 7 3 2 2 2 2 2
32 40 51 45 48 45 50 73 98 77 94 102
Total Assets 47 59 68 62 74 74 78 105 149 127 141 146

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
13 -11 -3 1 14 2 17 8 14 -9 22 15
-8 -6 -0 -1 -7 -4 -6 -7 -30 7 -6 -10
-1 12 4 -5 -4 0 -4 -1 11 -1 -14 -6
Net Cash Flow 4 -5 0 -4 2 -2 8 1 -4 -3 3 -0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 40 53 35 30 36 59 44 79 9 47 46 27
Inventory Days 51 136 212 166 123 72 63 136 240 207 429 214
Days Payable 87 134 147 67 93 68 83 133 115 99 214 90
Cash Conversion Cycle 3 55 101 130 66 62 24 82 133 155 261 152
Working Capital Days -13 72 105 118 13 34 31 36 33 109 86 52
ROCE % 39% 23% 14% 9% 15% 23% 19% 23% 31% 14% 5% 20%

Shareholding Pattern

Numbers in percentages

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
65.80 65.80 65.80 65.80 65.80 65.80 65.80 65.80 65.80 65.80 65.84 65.84
0.33 0.33 0.24 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.01 0.00 0.02 0.01 0.00 0.00 0.00 0.00 0.00 0.00
33.87 33.87 33.95 34.19 34.18 34.19 34.19 34.19 34.19 34.19 34.15 34.15

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