Rathi Bars Ltd

Rathi Bars Ltd

₹ 42.5 -1.67%
28 Feb - close price
About

Incorporated in 1993, Rathi Bars Ltd manufactures reinforcement steel bars (TMT) and Low Carbon Billets[1]

Key Points

Product Profile:[1]
a) Rathi Shaktiman:
These are steel bars of Fe 500 grade made as per IS 1786-2008 and are available in a range from 8mm to 32mm suitable for all
types of requirement. Installed capacity of over 1000 tons per day
b) Rathi Shaktiman Excel:
It is India’s first unique double-66-pattern design equivalent to British Standard B500C Steels Bars. It has lower impurities and high bond and tensile strength

  • Market Cap 69.4 Cr.
  • Current Price 42.5
  • High / Low 56.4 / 19.0
  • Stock P/E 18.6
  • Book Value 56.5
  • Dividend Yield 0.00 %
  • ROCE 5.52 %
  • ROE 2.90 %
  • Face Value 10.0

Pros

  • Stock is trading at 0.75 times its book value
  • Company is expected to give good quarter

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • Company has a low return on equity of 2.99% 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: 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
84.50 102.76 103.82 139.53 112.67 137.82 128.91 80.40 73.92 198.42 169.76 172.03 134.42
80.90 99.90 101.16 136.05 109.43 133.94 125.54 77.33 70.62 193.90 165.52 167.63 130.27
Operating Profit 3.60 2.86 2.66 3.48 3.24 3.88 3.37 3.07 3.30 4.52 4.24 4.40 4.15
OPM % 4.26% 2.78% 2.56% 2.49% 2.88% 2.82% 2.61% 3.82% 4.46% 2.28% 2.50% 2.56% 3.09%
0.01 0.30 0.01 0.01 0.01 0.05 0.16 0.36 0.20 0.26 0.16 0.11 0.45
Interest 0.93 0.94 0.86 1.11 1.18 1.17 1.07 1.18 1.35 1.78 1.83 1.80 2.17
Depreciation 1.53 1.61 1.37 1.32 1.34 1.81 1.49 1.49 1.49 2.08 1.59 1.72 1.60
Profit before tax 1.15 0.61 0.44 1.06 0.73 0.95 0.97 0.76 0.66 0.92 0.98 0.99 0.83
Tax % 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%
1.15 0.61 0.44 1.05 0.73 0.95 0.97 0.76 0.67 0.91 0.99 1.00 0.83
EPS in Rs 0.70 0.37 0.27 0.64 0.45 0.58 0.59 0.47 0.41 0.56 0.61 0.61 0.51
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
282 281 272 236 209 186 247 410 383 324 494 482 675
275 272 264 227 202 179 239 401 371 312 481 467 657
Operating Profit 7 9 8 10 7 7 7 8 12 12 13 15 17
OPM % 2% 3% 3% 4% 3% 4% 3% 2% 3% 4% 3% 3% 3%
1 0 2 1 1 1 0 0 0 0 0 0 1
Interest 3 4 4 4 2 2 2 2 4 3 4 5 8
Depreciation 2 2 3 6 5 4 4 5 6 6 6 7 7
Profit before tax 3 3 3 1 1 2 2 3 3 3 3 3 4
Tax % 4% 33% 26% 76% -3% 38% 35% 32% 5% 24% 10% 22%
3 2 2 0 1 1 1 2 3 2 3 3 4
EPS in Rs 1.81 1.31 1.49 0.14 0.91 0.59 0.86 1.15 1.67 1.41 1.75 1.58 2.29
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 6%
5 Years: 14%
3 Years: 8%
TTM: 60%
Compounded Profit Growth
10 Years: 2%
5 Years: 13%
3 Years: -2%
TTM: 11%
Stock Price CAGR
10 Years: 31%
5 Years: 25%
3 Years: 32%
1 Year: 91%
Return on Equity
10 Years: 2%
5 Years: 3%
3 Years: 3%
Last Year: 3%

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 16 16 16 16 16 16 16 16 16 16 16 16 16
Reserves 53 55 57 58 59 60 61 64 66 69 71 74 76
28 35 34 31 23 15 12 29 41 47 65 72 66
24 25 31 30 29 21 19 18 20 20 22 22 19
Total Liabilities 121 131 139 135 128 112 110 127 143 152 175 185 177
32 30 32 27 22 22 25 36 38 43 42 42 42
CWIP 1 4 4 6 9 13 11 10 13 10 9 7 7
Investments 9 16 23 20 12 0 0 0 0 1 1 1 1
79 81 80 83 85 77 72 80 91 100 123 136 128
Total Assets 121 131 139 135 128 112 110 127 143 152 175 185 177

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
-8 7 14 6 15 -3 10 -1 2 3 -9 3
7 -10 -10 2 4 4 -6 -14 -11 -6 -4 -5
0 4 -5 -8 -10 -11 -4 15 9 3 14 2
Net Cash Flow -1 0 -1 0 8 -9 -0 0 0 -0 0 0

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 61 61 61 71 70 75 60 44 56 66 52 60
Inventory Days 22 25 28 34 34 63 39 14 15 23 23 13
Days Payable 20 19 21 22 23 46 35 11 13 15 9 9
Cash Conversion Cycle 63 66 69 83 81 93 64 47 58 74 65 65
Working Capital Days 74 76 70 86 86 117 84 59 72 95 79 89
ROCE % 6% 7% 6% 4% 4% 3% 4% 4% 6% 5% 5% 6%

Shareholding Pattern

Numbers in percentages

2 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
64.01% 64.01% 64.01% 64.01% 64.01% 64.01% 64.01% 64.01% 64.01% 64.01% 64.01% 64.01%
35.99% 35.99% 35.99% 35.99% 35.99% 35.99% 36.00% 35.99% 36.00% 35.99% 35.99% 35.99%
No. of Shareholders 7,1856,9667,0217,1959,0908,7938,5028,2918,1357,9658,1158,249

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