Raghav Productivity Enhancers Ltd

About

RPEL is engaged in the manufacturing of quartz based ramming mass, quartz powder and tundish board. It sells its products
under the brand name of “Raghav”. We are a company that is blindly trusted by customers who require to use our offerings as refractory material in induction furnace. [1]

Key Points

Key Customers
Key customers for RPEL include R.L. Steel, Mahalakshmi TMT and Varsana SPA, to whom the company supplies ramming mass, silica ramming mixes, quartz etc.[1]

See full details
  • Market Cap 849 Cr.
  • Current Price 780
  • High / Low 1,008 / 145
  • Stock P/E 54.6
  • Book Value 90.7
  • Dividend Yield 0.06 %
  • ROCE 22.8 %
  • ROE 17.2 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company is expected to give good quarter

Cons

  • Stock is trading at 8.61 times its book value
  • The company has delivered a poor sales growth of 6.89% over past five years.
  • Promoter holding has decreased over last 3 years: -3.65%

Peer comparison

Sector: Steel Industry: Steel - Medium / Small

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
15.30 15.19 16.76 16.78 17.93 15.04 9.07 14.90 19.37 21.13 20.61 23.88
11.16 12.55 12.88 12.75 13.47 12.05 7.70 11.52 15.08 15.39 14.71 18.19
Operating Profit 4.14 2.64 3.88 4.03 4.46 2.99 1.37 3.38 4.29 5.74 5.90 5.69
OPM % 27.06% 17.38% 23.15% 24.02% 24.87% 19.88% 15.10% 22.68% 22.15% 27.17% 28.63% 23.83%
Other Income 0.03 0.01 0.03 0.05 0.12 0.10 0.07 0.02 0.09 0.06 0.41 0.95
Interest 0.36 0.46 0.24 0.22 0.20 0.23 0.16 0.19 0.19 0.05 -0.00 0.06
Depreciation 0.38 0.50 0.43 0.45 0.48 0.48 0.52 0.53 0.54 0.56 0.56 0.55
Profit before tax 3.43 1.69 3.24 3.41 3.90 2.38 0.76 2.68 3.65 5.19 5.75 6.03
Tax % 25.66% -2.96% 23.77% 23.75% 32.82% 25.63% 23.68% 29.48% 27.67% 21.39% 25.57% 24.54%
Net Profit 2.55 1.73 2.46 2.60 2.62 1.76 0.58 1.90 2.64 4.08 4.28 4.55
EPS in Rs 2.54 1.72 2.45 2.59 2.61 1.75 0.58 1.89 2.63 3.75 3.94 4.18

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
6 11 17 22 38 46 42 47 56 67 65 85
6 10 16 20 35 42 36 37 43 51 50 63
Operating Profit 0 0 1 2 3 5 6 10 13 16 15 22
OPM % 4% 4% 5% 7% 7% 10% 14% 21% 23% 23% 23% 25%
Other Income -0 -0 -0 -0 0 0 0 0 0 0 0 2
Interest 0 0 0 1 1 2 1 1 2 1 1 0
Depreciation 0 0 0 0 0 1 1 1 2 2 2 2
Profit before tax 0 0 1 1 1 2 4 8 10 13 12 21
Tax % 90% 42% 36% 31% 32% 43% 33% 26% 21% 27% 25%
Net Profit 0 0 0 0 1 1 3 6 8 9 9 16
EPS in Rs 0.50 2.80 6.80 9.40 2.17 1.84 2.51 5.81 8.01 9.39 8.45 14.50
Dividend Payout % -0% -0% -0% -0% -0% -0% -0% -0% -0% -0% 6%
Compounded Sales Growth
10 Years:27%
5 Years:7%
3 Years:11%
TTM:49%
Compounded Profit Growth
10 Years:98%
5 Years:47%
3 Years:16%
TTM:127%
Stock Price CAGR
10 Years:%
5 Years:71%
3 Years:95%
1 Year:365%
Return on Equity
10 Years:22%
5 Years:23%
3 Years:22%
Last Year:17%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Sep 2021
0 0 0 0 3 5 7 7 10 10 11 11
Reserves 1 3 3 3 5 3 11 17 22 32 54 88
Borrowings 1 2 10 15 14 13 12 10 8 6 -0 6
1 1 1 3 4 8 7 8 11 12 10 14
Total Liabilities 3 6 14 23 26 30 38 42 51 60 75 118
1 1 1 1 10 13 12 22 22 28 28 27
CWIP -0 -0 1 7 -0 0 7 -0 1 0 0 0
Investments -0 -0 -0 -0 -0 -0 0 0 -0 -0 0 12
2 5 11 14 16 16 18 20 27 32 47 79
Total Assets 3 6 14 23 26 30 38 42 51 60 75 118

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
-1 -2 -5 4 -1 7 1 7 7 8 11
-0 -0 -1 -6 -1 -4 -7 -3 -3 -5 -13
1 3 7 4 1 -3 7 -3 -4 -2 8
Net Cash Flow -0 0 0 1 -1 -0 -0 -0 -0 -0 7

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 72 104 99 131 116 93 102 101 106 113 103
Inventory Days 39 79 48 38 37 32 52 77 125 114 149
Days Payable 52 35 15 83 53 62 54 53 78 71 75
Cash Conversion Cycle 60 148 132 86 99 63 100 124 153 156 177
Working Capital Days 70 133 216 158 111 68 106 105 117 133 131
ROCE % 13% 10% 10% 12% 19% 19% 28% 31% 32% 23%

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
73.26 73.26 73.26 73.26 73.26 73.26 73.26 73.26 73.26 69.61 69.61 69.61
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.04 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00
26.74 26.74 26.74 26.74 26.64 26.74 26.74 26.70 26.74 30.39 30.39 30.39

Documents