Riddhi Corporate Services Ltd
Incorporated in 2010, Riddhi Corporate Services Ltd offers solutions under document management, inbound and outbound contact centre, data entry, software development, verification services and recruitment services[1]
- Market Cap ₹ 81.9 Cr.
- Current Price ₹ 69.0
- High / Low ₹ 83.0 / 56.2
- Stock P/E 5.50
- Book Value ₹ 61.7
- Dividend Yield 0.69 %
- ROCE 13.6 %
- ROE 21.6 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Stock is trading at 1.08 times its book value
- Company is expected to give good quarter
- Company has delivered good profit growth of 58.8% CAGR over last 5 years
Cons
- Tax rate seems low
- Earnings include an other income of Rs.17.5 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
Information Technology Information Technology IT - Services IT Enabled Services
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 23 | 27 | 42 | 67 | 20 | 50 | 81 | 86 | 109 | 200 | 167 | 255 | 368 | |
| 20 | 23 | 36 | 65 | 19 | 47 | 77 | 82 | 94 | 162 | 137 | 226 | 344 | |
| Operating Profit | 3 | 4 | 5 | 3 | 1 | 3 | 4 | 4 | 15 | 39 | 30 | 29 | 24 |
| OPM % | 11% | 14% | 13% | 4% | 7% | 6% | 4% | 4% | 14% | 19% | 18% | 12% | 7% |
| 0 | 0 | 0 | 2 | 1 | 1 | -2 | 4 | 8 | 1 | 5 | 12 | 18 | |
| Interest | 0 | 0 | 0 | 1 | 1 | 1 | 0 | 1 | 4 | 9 | 8 | 7 | 7 |
| Depreciation | 1 | 0 | 0 | 1 | 0 | 0 | 0 | 3 | 11 | 20 | 19 | 19 | 18 |
| Profit before tax | 2 | 4 | 5 | 4 | 1 | 3 | 1 | 5 | 8 | 11 | 8 | 15 | 17 |
| Tax % | 53% | 24% | 39% | 40% | 31% | 24% | 154% | 35% | 26% | 24% | 32% | 12% | |
| 1 | 3 | 3 | 2 | 1 | 3 | -1 | 3 | 6 | 8 | 5 | 14 | 15 | |
| EPS in Rs | 3.07 | 0.82 | 2.26 | -0.48 | 2.72 | 5.13 | 7.10 | 4.33 | 11.42 | 12.52 | |||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 9% | 0% | 0% | 10% | 0% | 11% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 25% |
| 5 Years: | 26% |
| 3 Years: | 33% |
| TTM: | 74% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 17% |
| 5 Years: | 59% |
| 3 Years: | 29% |
| TTM: | 168% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | -14% |
| 3 Years: | -47% |
| 1 Year: | 10% |
| Return on Equity | |
|---|---|
| 10 Years: | 16% |
| 5 Years: | 16% |
| 3 Years: | 17% |
| Last Year: | 22% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.01 | 0.01 | 0.01 | 2 | 3 | 11 | 11 | 11 | 11 | 12 | 12 | 12 | 12 |
| Reserves | 2 | 5 | 8 | 8 | 20 | 14 | 14 | 17 | 23 | 40 | 44 | 57 | 61 |
| 2 | 1 | 2 | 3 | 6 | 4 | 5 | 8 | 141 | 125 | 110 | 94 | 43 | |
| 10 | 13 | 12 | 17 | 4 | 8 | 10 | 15 | 28 | 21 | 29 | 31 | 52 | |
| Total Liabilities | 14 | 19 | 22 | 30 | 34 | 38 | 40 | 51 | 203 | 198 | 196 | 194 | 169 |
| 1 | 1 | 1 | 1 | 1 | 1 | 2 | 9 | 140 | 120 | 104 | 97 | 50 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 9 | 11 | 24 | 22 | 14 | 21 | 24 | 35 | 0 | 0 | 0 |
| 13 | 18 | 11 | 18 | 10 | 15 | 24 | 21 | 39 | 43 | 91 | 96 | 119 | |
| Total Assets | 14 | 19 | 22 | 30 | 34 | 38 | 40 | 51 | 203 | 198 | 196 | 194 | 169 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 4 | 3 | 4 | 0 | -3 | 5 | -1 | 6 | 12 | -19 | 22 | 37 | |
| -1 | -0 | -6 | -1 | -12 | 2 | 5 | -10 | -4 | -11 | -8 | -9 | |
| 1 | -0 | 0 | 0 | 15 | -2 | 0 | -2 | -10 | 30 | -14 | -23 | |
| Net Cash Flow | 4 | 2 | -2 | -0 | 0 | 5 | 4 | -6 | -1 | 0 | -0 | 5 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 123 | 130 | 86 | 89 | 91 | 20 | 19 | 13 | 60 | 26 | 81 | 61 |
| Inventory Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 123 | 130 | 86 | 89 | 91 | 20 | 19 | 13 | 60 | 26 | 81 | 61 |
| Working Capital Days | -27 | -30 | -21 | -1 | -43 | -30 | -17 | -37 | -48 | -16 | 51 | 28 |
| ROCE % | 76% | 76% | 69% | 42% | 10% | 16% | 16% | 13% | 11% | 11% | 9% | 14% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Resignation of Statutory Auditors
15 Nov - Statutory auditor Jain Kedia & Sharma resigned effective November 14, 2025; resignation letter attached.
-
Board Meeting Outcome for OUTCOME OF THE BOARD MEETING HELD ON 14Th NOVEMBER 2025
14 Nov - Approved unaudited Q2 results to 30 Sep 2025; appointed Kalpeshbhai Shukla as additional independent director.
- Financial Results For Quarter Ended 30Th September 2025 14 Nov
-
Announcement under Regulation 30 (LODR)-Change in Directorate
14 Nov - Board approved unaudited Q2 results (30 Sep 2025) and appointed Kalpeshbhai Shukla as additional independent director.
-
Statement Of Deviation And/Or Variation In Utilization Of Public Issue Proceeds Pursuant To Regulation 32 Of SEBI (Listing Obligations And Disclosures Requirements) Regulation, 2015
14 Nov - Reg 32 filing: no deviation; IPO Rs12.35Cr, Preferential Rs7.0356Cr; funds largely unutilized.
Business Overview:[1]
RCSL is a part of Riddhi Group. It is an ISO 9001:2015, ISO 27001:2013 & CMMi Level-3 certified company which provides solutions under Document Management, inbound and outbound Contact Centre, Data Entry, Software Development, Verification Services and Recruitment Services. It offers global logistics solutions for the transit needs of various companies and individuals