Ratnabhumi Developers Ltd
Incorporated in 2007, Ratnabhumi Developers Ltd is in the business of construction of buildings and other construction related services and renting services[1]
- Market Cap ₹ 277 Cr.
- Current Price ₹ 202
- High / Low ₹ 258 / 88.0
- Stock P/E 50.4
- Book Value ₹ 31.5
- Dividend Yield 0.00 %
- ROCE 10.4 %
- ROE 15.1 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company has delivered good profit growth of 73.9% CAGR over last 5 years
Cons
- Stock is trading at 6.42 times its book value
- 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 5.76% over last 3 years.
- Contingent liabilities of Rs.266 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
Consumer Discretionary Realty Realty Residential, Commercial Projects
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| 0.97 | 4.06 | -1.08 | -11.82 | -7.91 | 209.45 | 81.12 | |
| 0.37 | 3.06 | -3.37 | -18.76 | -23.47 | 189.50 | 60.57 | |
| Operating Profit | 0.60 | 1.00 | 2.29 | 6.94 | 15.56 | 19.95 | 20.55 |
| OPM % | 61.86% | 24.63% | 1,431.25% | 3,154.55% | 5,557.14% | 9.52% | 25.33% |
| 0.00 | 0.09 | 0.00 | 0.01 | 0.79 | 1.36 | 0.95 | |
| Interest | 0.03 | 0.03 | 2.56 | 7.04 | 15.60 | 14.97 | 13.60 |
| Depreciation | 0.02 | 0.01 | 0.03 | 0.13 | 0.79 | 1.01 | 0.88 |
| Profit before tax | 0.55 | 1.05 | -0.30 | -0.22 | -0.04 | 5.33 | 7.02 |
| Tax % | 34.55% | 22.86% | -13.33% | -4.55% | -200.00% | 24.58% | |
| 0.36 | 0.82 | 0.17 | 0.23 | 0.26 | 5.73 | 5.49 | |
| EPS in Rs | 0.26 | 0.60 | 0.12 | 0.17 | 0.19 | 4.18 | 4.01 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 193% |
| 3 Years: | % |
| TTM: | -55% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 74% |
| 3 Years: | 223% |
| TTM: | 67% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 31% |
| 3 Years: | 16% |
| 1 Year: | 90% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 4% |
| 3 Years: | 6% |
| Last Year: | 15% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 13.70 | 13.70 | 13.70 | 13.70 | 13.70 | 13.70 | 13.70 |
| Reserves | 20.09 | 20.90 | 21.07 | 21.31 | 21.43 | 27.17 | 29.41 |
| 0.50 | 0.56 | 41.64 | 109.06 | 193.54 | 119.94 | 130.05 | |
| 0.18 | 0.21 | 22.11 | 75.86 | 116.73 | 41.92 | 21.29 | |
| Total Liabilities | 34.47 | 35.37 | 98.52 | 219.93 | 345.40 | 202.73 | 194.45 |
| 0.02 | 0.02 | 0.14 | 0.31 | 6.14 | 5.16 | 4.74 | |
| CWIP | 0.00 | 0.00 | 0.00 | 2.31 | 0.00 | 0.00 | 0.00 |
| Investments | 27.98 | 27.03 | 0.66 | 3.02 | 14.86 | 18.85 | 23.65 |
| 6.47 | 8.32 | 97.72 | 214.29 | 324.40 | 178.72 | 166.06 | |
| Total Assets | 34.47 | 35.37 | 98.52 | 219.93 | 345.40 | 202.73 | 194.45 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| -2.24 | 3.30 | -63.95 | -59.56 | -49.05 | 89.81 | |
| 2.02 | -3.35 | 29.98 | -5.19 | -15.72 | -0.65 | |
| 0.22 | 0.03 | 38.52 | 60.38 | 65.64 | -88.55 | |
| Net Cash Flow | 0.00 | -0.01 | 4.55 | -4.37 | 0.87 | 0.62 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 56.44 | 13.49 | -54.07 | -4.32 | -6.46 | 2.25 |
| Inventory Days | 555.56 | 384.48 | ||||
| Days Payable | 7.33 | 6.07 | ||||
| Cash Conversion Cycle | 56.44 | 561.72 | -54.07 | -4.32 | -6.46 | 380.66 |
| Working Capital Days | 2,396.96 | 352.41 | 23,853.43 | 4,247.22 | 9,057.63 | 229.21 |
| ROCE % | 3.11% | 4.05% | 6.19% | 8.35% | 10.42% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
14 Feb - Extract of Unaudited Consolidated Financials for the Quarter ended December 31,2025, published today in the newspaper Viz Financial Express (English) and Financial Express (Gujarati)
-
Results- Financial Results For The Quarter Ended December 31, 2025
13 Feb - Ratnabhumi Developers approved unaudited standalone and consolidated Q3 results for quarter ended Dec 31, 2025; LR report.
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Board Meeting Outcome for Outcome Of Meeting Of Board Held On Friday, February 13, 2026
13 Feb - Board approved unaudited standalone and consolidated results for quarter ended December 31, 2025.
-
Announcement under Regulation 30 (LODR)-Credit Rating
12 Feb - Infomerics assigned IVR BBB-; Stable to Rs.151 crore long-term bank facilities dated Feb 10, 2026.
-
Shareholder Meeting / Postal Ballot-Scrutinizer"s Report
7 Feb - Voting results and scrutinizer report of 02nd EGM held 07-Feb-2026 submitted and uploaded.
Business Overview:[1]
RDL is a real estate development company and a part of the Ahmedabad-based Ratna group. All the projects of RDL are in the vicinity of Ahmedabad. The company has executed a total of 22 residential
and commercial projects to date and is currently executing three mixed- development projects under the brand Turquoise.