Ritesh Properties & Industries Ltd

₹ 42.1 -0.24%
27 Jan - close price
About

Ritesh Properties & Industries Ltd was incorporated in 1987, it is engaged in the development of an approved Integrated Industrial Park on the land situated at Ludhiana and engaged in the business of Trading of Fabrics, Real Estate, Shares, Derivatives, Options, Forex, commodities and other Financial instruments. Mr Sanjeev Arora is the Chairman-Cum-MD of the co. [1] [2]

Key Points

Journey
Co. was incorporated in 1987. It started its business in agricultural products as its main activity. The co. has since diversified its business and entered the real estate business and is engaged in the development of an approved integrated Industrial Park on the land situated at Ludhiana. In FY20, RPIL started Trading Shares, Derivatives, Options, Forex commodities and other Financial instruments. During the same period, the company has entered into partnership ventures in which it will be developing the affordable housing projects in Ludhiana and the project is already under process. [1]

Revenue
Trading in securities, derivatives and financial instruments: 57%
Textile: 42%
Real Estate Activities: 1% [2]

Merger and Amalgamation
As part of the group restructuring, the Board in September 2018, approved the Scheme of Amalgamation for the merger of three Group Companies, viz. Ritesh Spinning Mills Limited, Ritesh Impex Private Limited, H B Fibres Limited with Ritesh Properties and Industries Limited.
As a result of the implementation of this amalgamation, the four group companies have been dissolved without winding up. [1][3]

Issue of OFCD
The co. has got approval to issue 42 lakhs Unsecured Optionally Fully Convertible Debentures aggregating to Rs. ~9 crores- convertible into 42 lakh equity shares on a preferential basis. [4]

Current Real-Estate Projects:
Co. is currently engaged in the development of Hampton Homes, a part of a 40-acre township, which already has the fully functional Hampton Court Business Park.
The total built-up area of the project is 1.4 lakh sq mtr and comprises affordable housing and a commercial building. [5][6]

Acquisition
An Open Offer for the Acquisition of 26% of the expanded equity share capital of Ritesh Properties And Industries Limited from the public shareholders of the FindocFinvest Private Limited has been made. [7]

  • Market Cap 1,083 Cr.
  • Current Price 42.1
  • High / Low 58.0 / 32.2
  • Stock P/E 26.3
  • Book Value 4.52
  • Dividend Yield 0.00 %
  • ROCE %
  • ROE %
  • Face Value 1.00

Pros

  • Promoter holding has increased by 1.41% over last quarter.

Cons

  • Stock is trading at 9.32 times its book value
  • Earnings include an other income of Rs.13.5 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: Textiles Industry: Textiles - Products

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2021 Mar 2022 Jun 2022
58.00 40.96 24.29
52.33 34.08 21.16
Operating Profit 5.67 6.88 3.13
OPM % 9.78% 16.80% 12.89%
8.43 2.14 1.04
Interest 0.27 0.32 0.19
Depreciation 0.15 0.12 0.12
Profit before tax 13.68 8.58 3.86
Tax % 12.43% -18.30% -30.31%
Net Profit 11.99 10.14 5.04
EPS in Rs 0.87 0.24 0.08
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2022
11 2 1 1 9 11 3 14 14 13 50 185
3 7 7 3 5 11 2 13 13 12 48 157
Operating Profit 9 -5 -5 -2 4 -0 1 0 1 1 2 28
OPM % 76% -233% -417% -267% 47% -1% 45% 4% 6% 10% 3% 15%
-0 0 0 1 1 1 1 2 2 1 1 13
Interest 0 1 0 0 0 0 0 0 0 0 0 1
Depreciation 0 0 1 1 1 1 0 0 0 0 0 1
Profit before tax 8 -6 -6 -2 4 -1 1 3 2 2 2 40
Tax % 9% -2% -2% 0% 4% -16% 6% 9% 0% 0% 0% -1%
Net Profit 7 -6 -6 -2 4 -1 1 2 2 2 2 40
EPS in Rs 0.78 -0.51 -0.52 -0.17 0.31 -0.05 0.09 0.20 0.20 0.15 0.18 1.66
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 33%
5 Years: 30%
3 Years: %
TTM: %
Compounded Profit Growth
10 Years: 54%
5 Years: 81%
3 Years: %
TTM: %
Stock Price CAGR
10 Years: 52%
5 Years: 111%
3 Years: 236%
1 Year: -3%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: %

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2022
9 12 12 12 12 12 12 12 12 12 12 24
Reserves 6 2 -4 -5 -1 -1 -1 2 4 15 17 86
23 15 20 21 1 1 1 0 0 0 1 11
4 8 9 10 31 56 55 41 30 27 31 68
Total Liabilities 42 37 37 38 42 66 66 54 46 54 60 190
3 7 6 6 6 6 6 6 5 2 2 4
CWIP 0 0 0 0 0 0 0 0 0 0 0 0
Investments 1 1 1 0 0 0 0 0 1 0 19 11
38 30 29 31 36 60 61 48 40 53 39 175
Total Assets 42 37 37 38 42 66 66 54 46 54 60 190

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2022
-7 -10 -4 -0 6 -4 -1 8 7 3 -3
0 -3 -1 1 1 -5 1 3 2 -0 18
18 4 3 -0 -7 10 0 -10 -11 0 -16
Net Cash Flow 11 -9 -2 1 -0 0 0 1 -2 4 -0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2022
Debtor Days 406 79 96 111 12 8 170 51 64 7 68 123
Inventory Days 513 3,751 2,487 1,846 1,615 2,041 1,866 1,717 555 126 252
Days Payable 1,584 7,604 4,349 3,127 1,641 1,945 1,726 1,527 471 85 6
Cash Conversion Cycle 406 -992 -3,757 -1,750 -1,269 -18 266 191 254 92 108 369
Working Capital Days 723 3,155 4,629 5,860 -419 506 2,068 255 114 15 37 287
ROCE % -14% -20% -3% 20% -2% 15% 11% 10% 9% 8%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
52.48 52.48 52.48 52.48 52.48 52.48 52.48 70.25 71.74 71.74 71.74 73.15
0.00 0.00 0.00 0.00 0.30 4.12 4.12 2.06 2.01 2.26 2.26 2.19
0.09 0.09 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
47.43 47.43 47.52 47.52 47.23 43.40 43.40 27.69 26.25 26.01 26.01 24.66

* 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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