Rites Ltd

About [ edit ]

RITES is engaged in the business of Export Sales, Consultancy, Inspection Fee, Services for Turnkey Construction Projects.

Key Points [ edit ]
  • Market Cap 6,553 Cr.
  • Current Price 272
  • High / Low 293 / 232
  • Stock P/E 15.2
  • Book Value 99.5
  • Dividend Yield 5.87 %
  • ROCE 23.5 %
  • ROE 17.2 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is providing a good dividend yield of 5.87%.
  • Company has been maintaining a healthy dividend payout of 63.83%

Cons

  • The company has delivered a poor sales growth of 8.83% over past five years.
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
332 443 535 737 538 746 620 571 335 439 449 636
243 294 379 555 407 550 453 407 273 311 322 451
Operating Profit 89 149 156 182 131 196 167 164 63 128 128 185
OPM % 27% 34% 29% 25% 24% 26% 27% 29% 19% 29% 28% 29%
Other Income 58 35 48 59 36 143 47 46 41 61 31 14
Interest 2 2 2 3 1 2 2 2 2 1 2 1
Depreciation 9 9 10 10 11 11 12 13 13 13 13 13
Profit before tax 137 173 192 228 154 326 200 194 90 175 144 184
Tax % 33% 35% 29% 34% 34% 27% 25% 26% 27% 25% 27% 23%
Net Profit 92 108 130 145 98 233 147 139 63 130 102 138
EPS in Rs 3.67 4.31 5.19 5.81 3.92 9.30 5.86 5.56 2.51 5.18 4.26 5.73

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
1,013 1,218 1,351 1,497 2,047 2,474 1,860
664 871 1,005 1,071 1,469 1,811 1,356
Operating Profit 348 347 347 427 578 663 504
OPM % 34% 28% 26% 28% 28% 27% 27%
Other Income 147 209 210 154 200 268 147
Interest 2 1 14 25 10 10 6
Depreciation 26 37 38 36 38 47 52
Profit before tax 468 518 505 519 730 874 593
Tax % 33% 34% 33% 31% 33% 28% 25%
Net Profit 312 339 328 342 470 616 432
EPS in Rs 24.98 27.09 13.14 13.70 18.78 24.64 17.99
Dividend Payout % 20% 40% 46% 32% 54% 65% 72%
Compounded Sales Growth
10 Years:%
5 Years:9%
3 Years:7%
TTM:-25%
Compounded Profit Growth
10 Years:%
5 Years:5%
3 Years:8%
TTM:-30%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:%
1 Year:16%
Return on Equity
10 Years:%
5 Years:19%
3 Years:21%
Last Year:17%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
100 100 200 200 200 250 240
Reserves 1,576 1,707 1,838 2,014 2,222 2,383 2,152
Borrowings 0 173 83 55 48 47 29
1,929 2,531 2,678 2,901 2,956 3,222 3,412
Total Liabilities 3,605 4,511 4,799 5,170 5,426 5,903 5,833
212 476 406 402 478 590 584
CWIP 26 34 5 2 4 4 15
Investments 226 220 328 133 141 261 289
3,141 3,781 4,060 4,633 4,803 5,047 4,944
Total Assets 3,605 4,511 4,799 5,170 5,426 5,903 5,833

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
-89 463 555 410 164 319 516
291 -520 -56 -454 139 49 183
-38 39 -215 -217 -279 -420 -708
Net Cash Flow 165 -18 284 -261 24 -52 -9

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROCE % 28% 22% 25% 31% 34% 23%
Debtor Days 137 161 125 114 109 124 115
Inventory Turnover 0.17 0.09 5.28 2.29 6.02 0.36

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
87.40 87.40 87.40 87.40 87.40 87.40 77.39 72.02 72.02 72.02 72.20 72.20
1.00 0.19 1.07 1.28 1.23 1.08 2.42 2.91 1.50 1.13 1.02 1.00
4.12 5.74 5.38 4.16 3.64 3.56 11.13 16.39 16.57 16.04 16.24 15.80
7.48 6.67 6.15 7.16 7.73 7.96 9.07 8.68 9.91 10.82 10.54 10.99

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