Rites Ltd

Rites Ltd

₹ 760 1.84%
23 Feb - close price
About

Established in 1974, RITES Limited is a public sector enterprise and a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. The company is the only export arm of Indian Railways for providing rolling stock overseas (other than Thailand, Malaysia and Indonesia). [1]

Key Points

Products & Services
Locomotives, Coaches, Wagons and Train Sets (including semi-high-speed train sets) in various gauges- Narrow, Meter, Standard, Cape and Broad.
It also operates in Consultancy, Exports, Leasing and Turnkey / EPC segments, providing services like Management Consultancy on Covering various sectors of Railways, Metros, Airports & Land Ports, Highways, Ropeways, Urban Planning & Infra, etc. [1]

  • Market Cap 18,253 Cr.
  • Current Price 760
  • High / Low 821 / 323
  • Stock P/E 39.6
  • Book Value 107
  • Dividend Yield 2.70 %
  • ROCE 29.7 %
  • ROE 21.3 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 80.8%

Cons

  • Stock is trading at 7.07 times its book value
  • The company has delivered a poor sales growth of 11.9% over past five 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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
454 629 355 766 775 766 605 659 677 687 544 582 683
322 451 258 539 580 562 426 478 484 496 383 445 514
Operating Profit 133 178 97 226 195 204 179 181 193 191 161 138 169
OPM % 29% 28% 27% 30% 25% 27% 30% 27% 29% 28% 30% 24% 25%
26 20 23 23 16 23 32 25 27 19 18 28 19
Interest 2 1 1 2 3 2 1 1 2 2 1 1 2
Depreciation 13 13 13 14 15 24 15 17 19 17 16 14 15
Profit before tax 144 184 106 234 194 201 195 188 199 191 163 150 171
Tax % 27% 23% 26% 26% 26% 29% 26% 26% 26% 27% 26% 27% 25%
105 142 78 174 144 142 145 140 147 139 120 110 129
EPS in Rs 4.26 5.73 3.00 7.03 5.77 5.69 5.72 5.51 5.83 5.49 4.49 4.21 5.00
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
1,096 1,013 1,218 1,351 1,497 2,047 2,474 1,905 2,662 2,628 2,496
816 664 871 1,005 1,071 1,469 1,811 1,353 1,933 1,869 1,837
Operating Profit 280 348 347 347 427 578 663 552 729 759 659
OPM % 26% 34% 29% 26% 28% 28% 27% 29% 27% 29% 26%
127 147 208 210 154 200 268 101 84 103 84
Interest 2 2 1 14 25 10 10 9 13 21 7
Depreciation 20 26 37 38 36 38 47 52 66 67 62
Profit before tax 385 468 518 505 519 730 874 593 735 774 675
Tax % 32% 33% 34% 33% 31% 33% 28% 25% 27% 26%
261 312 340 337 357 490 633 444 539 571 497
EPS in Rs 20.84 24.98 27.09 13.14 13.70 18.78 24.64 17.99 21.49 22.56 19.19
Dividend Payout % 20% 20% 40% 46% 32% 54% 65% 72% 79% 91%
Compounded Sales Growth
10 Years: %
5 Years: 12%
3 Years: 2%
TTM: -8%
Compounded Profit Growth
10 Years: %
5 Years: 10%
3 Years: -4%
TTM: -16%
Stock Price CAGR
10 Years: %
5 Years: 35%
3 Years: 45%
1 Year: 125%
Return on Equity
10 Years: %
5 Years: 21%
3 Years: 20%
Last Year: 21%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 100 100 100 200 200 200 250 240 240 240 240
Reserves 1,325 1,576 1,707 1,838 2,014 2,222 2,383 2,152 2,248 2,363 2,341
0 0 173 83 55 48 47 37 28 5 5
2,211 1,929 2,531 2,678 2,901 2,956 3,262 3,408 3,326 3,381 3,177
Total Liabilities 3,636 3,605 4,511 4,799 5,170 5,426 5,943 5,837 5,842 5,991 5,764
198 212 476 406 402 478 590 584 560 552 542
CWIP 20 26 34 5 2 4 4 15 58 101 130
Investments 228 226 220 328 133 141 261 289 205 130 131
3,190 3,141 3,781 4,060 4,633 4,803 5,088 4,948 5,020 5,208 4,960
Total Assets 3,636 3,605 4,511 4,799 5,170 5,426 5,943 5,837 5,842 5,991 5,764

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-89 463 555 410 164 317 516 310 560
291 -520 -56 -454 139 50 194 62 -12
-38 39 -215 -217 -279 -419 -708 -376 -308
Net Cash Flow 165 -18 284 -261 24 -52 2 -5 239

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 108 137 161 125 114 109 124 112 101 126
Inventory Days 27 32 22 302 20 81 96
Days Payable 165 408 184 572 144 105 589
Cash Conversion Cycle -30 -239 161 125 -47 -161 1 112 77 -367
Working Capital Days -508 -438 -420 -449 -454 -297 -236 -333 -233 -219
ROCE % 30% 28% 21% 24% 30% 33% 23% 29% 30%

Shareholding Pattern

Numbers in percentages

12 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
72.20% 72.20% 72.20% 72.20% 72.20% 72.20% 72.20% 72.20% 72.20% 72.20% 72.20% 72.20%
1.00% 1.01% 1.11% 1.30% 1.45% 1.48% 2.35% 2.61% 3.37% 3.44% 3.98% 3.22%
15.80% 16.25% 16.53% 16.70% 16.89% 17.26% 17.58% 15.78% 15.89% 15.25% 12.72% 12.27%
10.99% 10.54% 10.16% 9.80% 9.46% 9.06% 7.89% 9.42% 8.53% 9.11% 11.10% 12.31%
No. of Shareholders 1,11,7471,07,6551,00,83797,5391,02,2381,01,76195,2361,11,6931,11,7011,23,0741,45,0941,62,986

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

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