R M Drip & Sprinklers Systems Ltd

R M Drip & Sprinklers Systems Ltd

₹ 135 -2.81%
19 Apr - close price
About

Incorporated in 1996, R M Drip & Sprinklers Systems Ltd manufactures micro irrigation systems[1]

Key Points

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

  • Market Cap 204 Cr.
  • Current Price 135
  • High / Low 149 / 39.0
  • Stock P/E 47.7
  • 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 6.81 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

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Half Yearly Results

Figures in Rs. Crores

Sep 2019 Mar 2020 Sep 2020 Mar 2021 Sep 2021 Mar 2022 Sep 2022 Mar 2023 Sep 2023
7.35 15.89 3.34 14.87 5.63 12.29 3.79 7.16 8.34
6.20 13.18 3.77 12.47 6.54 10.58 6.59 5.31 7.06
Operating Profit 1.15 2.71 -0.43 2.40 -0.91 1.71 -2.80 1.85 1.28
OPM % 15.65% 17.05% -12.87% 16.14% -16.16% 13.91% -73.88% 25.84% 15.35%
0.29 0.20 0.29 0.14 0.29 0.41 0.00 2.86 0.01
Interest 0.55 0.41 0.52 0.43 0.46 0.46 0.43 0.51 0.15
Depreciation 0.69 0.69 0.56 0.60 0.59 0.52 0.44 0.45 0.56
Profit before tax 0.20 1.81 -1.22 1.51 -1.67 1.14 -3.67 3.75 0.58
Tax % 0.00% -43.65% 0.00% 11.92% -35.93% -16.67% 0.00% 1.33% 0.00%
0.20 2.61 -1.22 1.33 -2.27 1.33 -3.66 3.69 0.58
EPS in Rs 0.30 3.90 -1.82 1.99 -3.39 1.99 -5.47 5.52 0.46
Raw PDF

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: 27%
3 Years: 90%
1 Year: 174%
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%

Shareholding Pattern

Numbers in percentages

Sep 2019Mar 2020Sep 2020Mar 2021Sep 2021Mar 2022Sep 2022Mar 2023Apr 2023Sep 2023Dec 2023Mar 2024
60.97% 61.00% 61.00% 60.23% 60.23% 60.29% 59.36% 51.91% 33.79% 27.60% 22.97% 22.97%
39.03% 39.00% 39.01% 39.78% 39.78% 39.72% 40.64% 48.09% 66.21% 72.40% 77.03% 77.03%
No. of Shareholders 396392289301332341362353365357345307

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