Rishabh Digha Steel & Allied Products Ltd

Rishabh Digha Steel & Allied Products Ltd

₹ 47.3 -1.99%
28 Feb - close price
About

Rishabh Digha Steel & Allied Products Ltd (RDSAP) is engaged in manufacturing and trading steel and allied products and performs job work for decoiling, straightening, shearing, and cutting of various sizes of iron and steel coils used in infrastructure, automobiles, consumer durables, and capital goods. [1] [2]

Key Points

Core Processing Services
HR / CR Coil Straightening & De-coiling and,
Cutting of 16mm steel sheets
[1]

Operations in FY21
The Co has discontinued its job-work activity from October 2020 and the management is considering various restructuring plans for the Co. It does not have a committed plan to sell yet.[2]

Key Clients
Ispat Industries Ltd, Arya Ship Breaking Co Private Limited, Delta Iron & Steel Co Private Limited, Jay Ambey Steel Traders, l, Ridhi Sidhi Iron & Steel, etc. are some of the clients of the Co.[1]

Infrastructure
The Co has an industrial unit spread over 5,340 sq. mt. at Taloja, Maharashtra and has a capacity of processing and storage capability of 20,000 metric tonnes per month.[3]

  • Market Cap 26.0 Cr.
  • Current Price 47.3
  • High / Low 53.3 / 15.3
  • Stock P/E
  • Book Value 11.4
  • Dividend Yield 0.00 %
  • ROCE -5.18 %
  • ROE -6.45 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Stock is trading at 4.16 times its book value
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -69.6% over past five years.
  • Company has a low return on equity of -5.21% over last 3 years.
  • Company has high debtors of 365 days.
  • Working capital days have increased from 1,465 days to 2,920 days

* 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: Steel Industry: Steel - Medium / Small

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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
-0.00 -0.00 -0.00 -0.00 -0.00 -0.00 0.01 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00
0.20 0.16 0.11 0.16 0.13 0.20 0.12 0.16 0.14 0.15 0.15 0.15 0.14
Operating Profit -0.20 -0.16 -0.11 -0.16 -0.13 -0.20 -0.11 -0.16 -0.14 -0.15 -0.15 -0.15 -0.14
OPM % -1,100.00%
0.13 0.07 0.08 0.08 0.08 0.08 0.10 0.10 0.10 0.02 0.07 0.07 0.10
Interest -0.00 -0.00 -0.00 -0.00 0.01 0.01 -0.00 -0.00 0.02 0.03 0.02 0.03 0.01
Depreciation 0.04 0.05 0.05 0.05 0.05 0.01 0.04 0.04 0.04 0.05 0.08 0.04 0.03
Profit before tax -0.11 -0.14 -0.08 -0.13 -0.11 -0.14 -0.05 -0.10 -0.10 -0.21 -0.18 -0.15 -0.08
Tax % -0.00% 14.29% -0.00% -0.00% -0.00% -0.00% -0.00% -0.00% -0.00% 4.76% -0.00% -0.00% -0.00%
-0.11 -0.13 -0.07 -0.13 -0.11 -0.14 -0.05 -0.10 -0.09 -0.20 -0.18 -0.15 -0.08
EPS in Rs -0.20 -0.24 -0.13 -0.24 -0.20 -0.26 -0.09 -0.18 -0.16 -0.36 -0.33 -0.27 -0.15
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
4.61 1.98 1.07 1.12 1.65 1.92 3.84 3.93 2.52 0.40 -0.00 0.01 0.00
2.00 1.55 1.32 1.38 1.72 1.86 2.24 2.28 2.22 0.93 0.59 0.56 0.59
Operating Profit 2.61 0.43 -0.25 -0.26 -0.07 0.06 1.60 1.65 0.30 -0.53 -0.59 -0.55 -0.59
OPM % 56.62% 21.72% -23.36% -23.21% -4.24% 3.12% 41.67% 41.98% 11.90% -132.50% -5,500.00%
0.52 0.65 0.64 0.79 0.72 0.55 0.59 0.50 0.52 0.45 0.32 0.31 0.26
Interest -0.00 0.01 -0.00 0.04 0.03 0.03 0.01 -0.00 0.03 0.01 0.03 0.05 0.09
Depreciation 0.29 0.28 0.28 0.21 0.19 0.18 0.18 0.18 0.17 0.18 0.15 0.16 0.20
Profit before tax 2.84 0.79 0.11 0.28 0.43 0.40 2.00 1.97 0.62 -0.27 -0.45 -0.45 -0.62
Tax % 34.15% 30.38% 27.27% 39.29% 18.60% 30.00% 27.50% 28.93% 35.48% 7.41% 2.22% 2.22%
1.87 0.55 0.09 0.16 0.35 0.27 1.44 1.40 0.40 -0.25 -0.44 -0.44 -0.61
EPS in Rs 3.41 1.00 0.16 0.29 0.64 0.49 2.62 2.55 0.73 -0.46 -0.80 -0.80 -1.11
Dividend Payout % 44.04% 99.82% 610.00% 343.12% 156.86% 305.00% 76.25% 78.43% -0.00% -0.00% -0.00% -0.00%
Compounded Sales Growth
10 Years: -41%
5 Years: -70%
3 Years: -84%
TTM: -100%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: -61%
Stock Price CAGR
10 Years: 8%
5 Years: 5%
3 Years: 32%
1 Year: 136%
Return on Equity
10 Years: 3%
5 Years: 2%
3 Years: -5%
Last Year: -6%

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 5.49 5.49 5.49 5.49 5.49 5.49 5.49 5.49 5.49 5.49 5.49 5.49 5.49
Reserves 4.32 4.23 3.71 2.97 2.66 2.84 3.29 3.22 2.21 1.99 1.55 1.11 0.74
-0.00 -0.00 -0.00 -0.00 -0.00 -0.00 0.13 -0.00 0.06 0.04 0.49 1.32 1.63
2.11 1.04 1.13 1.92 1.29 0.24 0.93 0.30 0.22 0.09 0.07 0.08 0.01
Total Liabilities 11.92 10.76 10.33 10.38 9.44 8.57 9.84 9.01 7.98 7.61 7.60 8.00 7.87
3.12 2.87 2.59 2.14 1.95 1.77 1.95 1.91 1.74 1.56 1.59 1.73 1.57
CWIP -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00
Investments 6.69 6.61 6.28 6.13 5.43 5.03 4.63 0.99 4.11 1.06 -0.00 4.14 5.71
2.11 1.28 1.46 2.11 2.06 1.77 3.26 6.11 2.13 4.99 6.01 2.13 0.59
Total Assets 11.92 10.76 10.33 10.38 9.44 8.57 9.84 9.01 7.98 7.61 7.60 8.00 7.87

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
2.19 0.26 0.30 0.58 0.12 -0.00 -0.00 1.58 0.67 1.45 -0.81 0.05
-1.64 0.71 0.29 0.06 0.73 -0.00 -0.00 0.39 -63.28 -11.46 0.80 -0.07
-0.64 -0.96 -0.64 -0.64 -0.44 -0.00 -0.00 -1.46 -1.32 -0.00 -0.00 -0.00
Net Cash Flow -0.09 0.01 -0.05 -0.01 0.41 -0.00 -0.00 0.50 -63.93 -10.01 -0.01 -0.01

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 56.21 71.89 85.28 101.03 141.58 102.66 70.34 70.59 27.52 9.12 365.00
Inventory Days -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00
Days Payable
Cash Conversion Cycle 56.21 71.89 85.28 101.03 141.58 102.66 70.34 70.59 27.52 9.12 365.00
Working Capital Days -15.84 1.84 34.11 3.26 139.36 262.34 192.96 48.30 -0.00 9.12 2,920.00
ROCE % 30.30% 7.58% 0.85% 1.81% 3.73% 5.10% 22.39% 22.36% 7.89% -3.40% -5.58% -5.18%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
73.87% 73.87% 73.87% 73.87% 73.87% 73.87% 73.87% 74.04% 74.12% 74.12% 74.12% 74.12%
26.12% 26.12% 26.12% 26.13% 26.13% 26.13% 26.12% 25.95% 25.87% 25.87% 25.86% 25.87%
No. of Shareholders 1,7401,7401,7021,6951,7021,6921,6951,6941,6941,6911,8131,825

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