R M Drip & Sprinklers Systems Ltd
Incorporated in 1996, R M Drip & Sprinklers Systems Ltd manufactures micro irrigation systems[1]
- Market Cap ₹ 210 Cr.
- Current Price ₹ 139
- High / Low ₹ 141 / 39.0
- Stock P/E 49.1
- Book Value ₹ 19.8
- Dividend Yield 0.00 %
- ROCE 5.10 %
- ROE 0.24 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
Cons
- Stock is trading at 7.01 times its book value
- Promoter holding has decreased over last quarter: -4.63%
- The company has delivered a poor sales growth of -23.8% over past five years.
- Promoter holding is low: 23.0%
- Company has a low return on equity of -2.03% over last 3 years.
- Earnings include an other income of Rs.2.87 Cr.
- Company has high debtors of 497 days.
- Working capital days have increased from 379 days to 539 days
* 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
Sector: Plastic products Industry: Plastics Products
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
2.54 | 3.07 | 5.32 | 11.73 | 28.34 | 42.63 | 22.29 | 23.24 | 18.21 | 17.92 | 10.95 | 15.50 | |
2.19 | 2.79 | 5.22 | 10.36 | 24.98 | 37.90 | 25.75 | 19.37 | 16.23 | 17.11 | 11.89 | 12.37 | |
Operating Profit | 0.35 | 0.28 | 0.10 | 1.37 | 3.36 | 4.73 | -3.46 | 3.87 | 1.98 | 0.81 | -0.94 | 3.13 |
OPM % | 13.78% | 9.12% | 1.88% | 11.68% | 11.86% | 11.10% | -15.52% | 16.65% | 10.87% | 4.52% | -8.58% | 20.19% |
0.03 | 0.02 | 0.76 | 0.02 | 0.38 | 0.27 | 0.84 | 0.48 | 0.43 | 0.69 | 2.87 | 2.87 | |
Interest | 0.15 | 0.15 | 0.16 | 0.50 | 0.87 | 1.18 | 1.33 | 0.96 | 0.96 | 0.92 | 0.96 | 0.66 |
Depreciation | 0.12 | 0.11 | 0.23 | 0.41 | 0.93 | 1.55 | 1.47 | 1.38 | 1.16 | 1.11 | 0.89 | 1.01 |
Profit before tax | 0.11 | 0.04 | 0.47 | 0.48 | 1.94 | 2.27 | -5.42 | 2.01 | 0.29 | -0.53 | 0.08 | 4.33 |
Tax % | 36.36% | 25.00% | 46.81% | 33.33% | 29.90% | 31.28% | -0.37% | -39.30% | 62.07% | -77.36% | 62.50% | |
0.08 | 0.03 | 0.24 | 0.32 | 1.36 | 1.57 | -5.44 | 2.80 | 0.11 | -0.94 | 0.03 | 4.27 | |
EPS in Rs | 80.00 | 30.00 | 5.00 | 2.29 | 5.71 | 2.35 | -8.13 | 4.19 | 0.16 | -1.41 | 0.04 | 5.98 |
Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Compounded Sales Growth | |
---|---|
10 Years: | 16% |
5 Years: | -24% |
3 Years: | -22% |
TTM: | -4% |
Compounded Profit Growth | |
---|---|
10 Years: | -9% |
5 Years: | -55% |
3 Years: | -78% |
TTM: | 283% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | 20% |
3 Years: | 88% |
1 Year: | 197% |
Return on Equity | |
---|---|
10 Years: | 0% |
5 Years: | -5% |
3 Years: | -2% |
Last Year: | 0% |
Balance Sheet
Figures in Rs. Crores
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 0.01 | 0.01 | 0.48 | 1.40 | 2.38 | 6.69 | 6.69 | 6.69 | 6.69 | 6.69 | 6.69 | 12.55 |
Reserves | 0.36 | 0.39 | 0.80 | 1.12 | 1.46 | 9.49 | 4.05 | 6.85 | 6.96 | 6.02 | 6.05 | 12.32 |
1.26 | 1.33 | 2.60 | 4.15 | 12.24 | 9.92 | 8.70 | 8.29 | 8.77 | 7.81 | 7.56 | 5.69 | |
0.61 | 0.55 | 1.32 | 3.63 | 7.70 | 6.36 | 7.50 | 5.40 | 6.39 | 10.13 | 8.54 | 7.02 | |
Total Liabilities | 2.24 | 2.28 | 5.20 | 10.30 | 23.78 | 32.46 | 26.94 | 27.23 | 28.81 | 30.65 | 28.84 | 37.58 |
0.74 | 0.69 | 3.07 | 2.74 | 8.18 | 8.17 | 7.29 | 6.29 | 6.97 | 5.88 | 4.97 | 7.64 | |
CWIP | 0.02 | 0.00 | 0.00 | 0.24 | 0.14 | 0.09 | 0.18 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Investments | 0.03 | 0.03 | 0.03 | 0.04 | 0.11 | 0.11 | 0.06 | 0.06 | 0.06 | 0.06 | 0.00 | 0.00 |
1.45 | 1.56 | 2.10 | 7.28 | 15.35 | 24.09 | 19.41 | 20.88 | 21.78 | 24.71 | 23.87 | 29.94 | |
Total Assets | 2.24 | 2.28 | 5.20 | 10.30 | 23.78 | 32.46 | 26.94 | 27.23 | 28.81 | 30.65 | 28.84 | 37.58 |
Cash Flows
Figures in Rs. Crores
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|
0.01 | 0.19 | 0.60 | 0.98 | 2.51 | -6.48 | 1.55 | 1.76 | 2.87 | 0.95 | -4.24 | |
-0.39 | -0.02 | -2.23 | -2.20 | -6.29 | -1.40 | 0.12 | 0.29 | -1.43 | 0.61 | 2.93 | |
0.36 | -0.09 | 1.68 | 1.86 | 4.53 | 7.53 | -2.36 | -2.15 | -0.60 | -2.60 | 1.11 | |
Net Cash Flow | -0.01 | 0.07 | 0.05 | 0.63 | 0.74 | -0.36 | -0.69 | -0.10 | 0.85 | -1.04 | -0.20 |
Ratios
Figures in Rs. Crores
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 68.98 | 87.98 | 75.47 | 90.86 | 86.03 | 134.77 | 207.31 | 224.28 | 298.05 | 367.44 | 497.00 |
Inventory Days | 197.92 | 109.29 | 54.96 | 78.92 | 138.79 | 85.35 | 76.22 | 100.38 | 117.43 | 131.21 | 139.59 |
Days Payable | 133.66 | 76.30 | 76.73 | 121.49 | 77.05 | 55.42 | 80.24 | 102.92 | 117.00 | 187.44 | 263.36 |
Cash Conversion Cycle | 133.24 | 120.97 | 53.69 | 48.29 | 147.78 | 164.70 | 203.29 | 221.74 | 298.48 | 311.21 | 373.23 |
Working Capital Days | 116.40 | 109.38 | 53.52 | 31.43 | 85.13 | 137.76 | 182.42 | 217.84 | 285.63 | 313.26 | 539.00 |
ROCE % | 11.31% | 9.27% | 18.58% | 24.70% | 16.36% | -17.96% | 14.39% | 5.65% | 1.82% | 5.10% |
Business Overview:[1][2]
Company designs and manufactures micro irrigation equipment and components. It assists farmers in designing and installation of Sprinkler and Drip Irrigations systems. It is also Original Equipment supplier to many irrigation companies and various irrigation sub assembly manufacturers. Company has a dealer network in Maharashtra, Madhya Pradesh, Gujarat, Karnataka and Uttar Pradesh, Bihar and Jharkhand with Greaves Cotton Ltd