Rasi Electrodes Ltd

Rasi Electrodes Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Rasi Electrodes Ltd

₹ 23.4 -2.87%
19 Apr - close price
rasielectrodes.com BSE: 531233
About

Incorporated in 1995, Rasi Electrodes Ltd manufactures and markets welding electrodes

Key Points

Business Overview:[1][2]
Company is registered under MSME category. Company supplies Welding Consumables under the brand name RASI. Its products primarily fall into 2 categories viz., electrodes and copper coated mild steel wires – both of which are used in welding. Company also has plans to enter agro-trading business in future which is likely to be funded through internal accruals

Website BSE
  • Market Cap ₹ 72.8 Cr.
  • Current Price ₹ 23.4
  • High / Low ₹ 32.9 / 12.7
  • Stock P/E 25.2
  • Book Value ₹ 9.92
  • Dividend Yield 0.00 %
  • ROCE 13.5 %
  • ROE 10.8 %
  • Face Value ₹ 2.00
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Debtor days have improved from 83.9 to 60.4 days.
  • Company's working capital requirements have reduced from 159 days to 108 days

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Promoter holding is low: 28.0%
  • Company has a low return on equity of 8.14% 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

Sector: Capital Goods-Non Electrical Equipment Industry: Electrodes - Welding Equipment

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Quarterly Results

Figures in Rs. Crores

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
13.44 14.43 11.79 17.98 17.74 20.87 21.83 22.15 20.67 22.87 18.80 21.55 20.75
12.31 14.17 11.06 17.08 17.12 20.37 20.74 21.16 19.67 22.06 18.13 20.20 19.83
Operating Profit 1.13 0.26 0.73 0.90 0.62 0.50 1.09 0.99 1.00 0.81 0.67 1.35 0.92
OPM % 8.41% 1.80% 6.19% 5.01% 3.49% 2.40% 4.99% 4.47% 4.84% 3.54% 3.56% 6.26% 4.43%
0.14 0.40 0.10 0.32 0.39 0.36 0.12 0.50 0.25 0.54 0.27 0.06 0.28
Interest 0.07 0.18 0.08 0.12 0.10 0.16 0.14 0.09 0.09 0.13 0.07 0.01 0.06
Depreciation 0.22 0.09 0.19 0.19 0.19 0.11 0.17 0.17 0.17 0.17 0.15 0.15 0.15
Profit before tax 0.98 0.39 0.56 0.91 0.72 0.59 0.90 1.23 0.99 1.05 0.72 1.25 0.99
Tax % 25.51% 71.79% 23.21% 25.27% 29.17% 30.51% 25.56% 26.02% 0.00% 35.24% 25.00% 24.80% 25.25%
0.73 0.11 0.44 0.68 0.52 0.41 0.67 0.92 0.99 0.68 0.54 0.93 0.74
EPS in Rs 0.23 0.04 0.14 0.22 0.17 0.13 0.22 0.30 0.32 0.22 0.17 0.30 0.24
Raw PDF

Profit & Loss

Figures in Rs. Crores

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
24.92 23.09 20.64 23.29 23.08 26.84 34.24 47.43 45.96 39.45 68.38 87.53 83.97
22.10 20.81 19.13 21.31 20.89 24.68 32.63 44.70 44.55 37.17 65.63 83.64 80.22
Operating Profit 2.82 2.28 1.51 1.98 2.19 2.16 1.61 2.73 1.41 2.28 2.75 3.89 3.75
OPM % 11.32% 9.87% 7.32% 8.50% 9.49% 8.05% 4.70% 5.76% 3.07% 5.78% 4.02% 4.44% 4.47%
0.81 0.19 0.34 0.55 0.69 0.57 0.62 0.54 0.71 0.85 1.17 1.42 1.15
Interest 0.68 0.75 0.62 0.44 0.38 0.49 0.71 0.68 0.46 0.37 0.46 0.46 0.27
Depreciation 0.25 0.39 0.40 0.60 0.80 0.82 0.68 0.82 0.88 0.75 0.68 0.68 0.62
Profit before tax 2.70 1.33 0.83 1.49 1.70 1.42 0.84 1.77 0.78 2.01 2.78 4.17 4.01
Tax % 27.78% 30.83% 32.53% 36.91% 40.59% 40.14% -1.19% 42.37% 34.62% 32.84% 26.62% 28.06%
1.95 0.92 0.56 0.94 1.01 0.85 0.85 1.02 0.51 1.36 2.05 3.01 2.89
EPS in Rs 0.82 0.39 0.22 0.31 0.32 0.27 0.27 0.33 0.16 0.44 0.66 0.97 0.93
Dividend Payout % 12.21% 25.87% 0.00% 32.77% 30.84% 36.65% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years: 14%
5 Years: 21%
3 Years: 24%
TTM: -2%
Compounded Profit Growth
10 Years: 13%
5 Years: 33%
3 Years: 80%
TTM: -3%
Stock Price CAGR
10 Years: 13%
5 Years: 41%
3 Years: 74%
1 Year: 79%
Return on Equity
10 Years: 6%
5 Years: 6%
3 Years: 8%
Last Year: 11%

Balance Sheet

Figures in Rs. Crores

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 4.76 4.76 4.97 6.16 6.23 6.23 6.23 6.23 6.23 6.23 6.23 6.23 6.23
Reserves 5.16 5.81 6.91 12.23 14.44 14.80 15.61 16.58 17.05 18.24 20.21 23.20 24.66
4.77 5.10 4.12 3.17 5.34 4.47 5.47 5.66 2.46 5.47 9.56 3.18 1.65
2.11 2.36 1.46 3.71 1.75 1.91 2.15 2.47 2.83 2.72 2.29 2.02 2.41
Total Liabilities 16.80 18.03 17.46 25.27 27.76 27.41 29.46 30.94 28.57 32.66 38.29 34.63 34.95
2.04 3.35 3.75 6.29 6.50 5.99 5.85 6.87 7.12 6.47 6.29 6.74 7.01
CWIP 0.29 0.00 0.00 0.13 0.00 0.04 0.00 0.00 0.04 0.00 0.01 0.00 0.00
Investments 0.03 0.03 0.18 0.02 0.79 0.76 0.47 0.44 0.21 0.32 0.54 0.51 0.67
14.44 14.65 13.53 18.83 20.47 20.62 23.14 23.63 21.20 25.87 31.45 27.38 27.27
Total Assets 16.80 18.03 17.46 25.27 27.76 27.41 29.46 30.94 28.57 32.66 38.29 34.63 34.95

Cash Flows

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
1.00 1.38 2.95 -3.25 0.02 -0.50 -0.25 1.54 4.38 -2.42 -3.90 7.50
-0.26 -1.23 -0.61 -2.83 -1.34 -0.36 0.20 -1.43 -0.81 0.39 -0.34 -0.85
-0.10 -0.15 -1.08 5.98 1.63 -1.38 0.29 -0.49 -3.66 2.63 3.63 -6.84
Net Cash Flow 0.64 0.00 1.26 -0.09 0.31 -2.24 0.25 -0.38 -0.09 0.60 -0.61 -0.19

Ratios

Figures in Rs. Crores

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 81.29 85.84 91.96 98.42 98.68 108.52 100.63 79.96 80.21 110.19 81.19 60.42
Inventory Days 92.83 114.10 71.02 83.30 109.50 104.14 76.68 64.62 69.48 103.07 74.58 46.29
Days Payable 10.86 16.08 9.65 16.11 3.83 8.80 12.71 13.05 14.11 8.65 0.90 0.10
Cash Conversion Cycle 163.26 183.86 153.33 165.61 204.35 203.87 164.60 131.53 135.57 204.61 154.87 106.62
Working Capital Days 160.53 179.10 171.01 219.88 253.98 251.58 215.76 161.30 145.33 211.41 157.73 108.38
ROCE % 20.44% 13.64% 8.84% 10.01% 8.79% 7.42% 5.19% 9.00% 4.65% 8.19% 9.58% 13.50%

Shareholding Pattern

Numbers in percentages

1 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
27.96% 27.96% 27.96% 27.96% 27.96% 27.96% 27.96% 27.96% 27.96% 27.96% 27.96% 27.96%
72.04% 72.04% 72.04% 72.04% 72.04% 72.04% 72.04% 72.03% 72.05% 72.04% 72.04% 72.04%
No. of Shareholders 3,7704,1584,3395,3426,6536,6197,1386,9056,7116,7617,1629,440

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