BSE: 531233 | NSE: | Electrodes & Welding Equipment | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Rasi Electrodes Ltd is a below average quality company.
The key valuation ratios of Rasi Electrodes Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Rasi Electrodes Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 9.8% | 8.5% | 7.4% | 5.9% | 8.8% | 4.6% | 8.6% | 9.9% | 13.5% | 13.1% | - |
| Value Creation Index ⓘ | -0.3 | -0.4 | -0.5 | -0.6 | -0.4 | -0.7 | -0.4 | -0.3 | 0.0 | -0.1 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 23.3 | 23.1 | 26.8 | 34.2 | 47.4 | 46 | 39.5 | 68.4 | 87.5 | 83.8 | 85 |
| Sales YoY Gr. | - | -0.9% | 16.3% | 27.6% | 38.5% | -3.1% | -14.2% | 73.3% | 28% | -4.2% | - |
| Adj EPS ⓘ | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.2 | 0.4 | 0.7 | 1 | 1 | 1.2 |
| YoY Gr. | - | 13.8% | -18.2% | 7.4% | 13.8% | -39.4% | 100% | 65% | 45.5% | 4.2% | - |
| BVPS (₹) ⓘ | 6 | 6.6 | 6.8 | 7 | 7.3 | 7.5 | 7.9 | 8.5 | 9.5 | 10.5 | 11.1 |
| Adj Net Profit ⓘ | 0.9 | 1 | 0.9 | 0.9 | 1 | 0.6 | 1.3 | 2.1 | 3 | 3.1 | 4 |
| Cash Flow from Ops. ⓘ | -3.3 | 0 | -0.5 | -0.3 | 1.5 | 4.4 | -2.4 | -3.9 | 7.5 | 4.4 | - |
| Debt/CF from Ops. ⓘ | -1 | 333.8 | -8.9 | -22.1 | 3.7 | 0.6 | -2.3 | -2.5 | 0.4 | 0.3 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 15.3% | 12.1% | 28.6% | -4.2% | ||||
| Adj EPS ⓘ | 14.7% | 24.8% | 35.7% | 4.2% | ||||
| BVPSⓘ | 6.4% | 7.4% | 10% | 10.8% | ||||
| Share Price | 8.3% | 63.1% | 49.5% | 33.2% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 5.6 | 5.2 | 4.1 | 4.2 | 4.6 | 2.7 | 5.3 | 8.1 | 10.7 | 10.1 | 10.8 |
| Op. Profit Mgn % ⓘ | 8.5 | 9.5 | 7.9 | 4.7 | 5.8 | 3.1 | 5.8 | 4 | 4.5 | 4.9 | 5.4 |
| Net Profit Mgn % ⓘ | 3.9 | 4.5 | 3.2 | 2.7 | 2.2 | 1.4 | 3.2 | 3 | 3.4 | 3.7 | 4.2 |
| Debt to Equity ⓘ | 0.2 | 0.3 | 0.2 | 0.3 | 0.3 | 0.1 | 0.2 | 0.4 | 0.1 | 0 | 0 |
| Working Cap Days ⓘ | 191 | 240 | 254 | 223 | 172 | 172 | 210 | 149 | 121 | 119 | 65 |
| Cash Conv. Cycle ⓘ | 121 | 144 | 161 | 143 | 113 | 121 | 161 | 124 | 105 | 97 | 58 |
Return on Equity has increased versus last 3 years average to 10.80%
Sales growth is growing at healthy rate in last 3 years 28.56%
Net Profit is growing at healthy rate in last 3 years 35.72%
Sales growth is not so good in last 4 quarters at 2.15%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 1.2 | - |
| TTM Sales (₹ Cr.) | 85.4 | - |
| BVPS (₹.) ⓘ | 11.1 | - |
| Reserves (₹ Cr.) ⓘ | 28 | - |
| P/BV ⓘ | 2.84 | - |
| PE ⓘ | 27.18 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 18.00 / 45.24 |
| All Time Low / High (₹) | 0.45 / 45.24 |
| Market Cap (₹ Cr.) | 98.1 |
| Equity (₹ Cr.) | 6.2 |
| Face Value (₹) | 2 |
| Industry PE ⓘ | 34.9 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 23.29 | 23.08 | 26.84 | 34.24 | 47.43 | 45.96 | 39.45 | 68.38 | 87.53 | 83.83 |
| Operating Expenses ⓘ | 21.32 | 20.98 | 24.73 | 32.89 | 44.76 | 44.75 | 37.17 | 65.71 | 83.67 | 79.75 |
| Manufacturing Costs | 2.05 | 2.45 | 2.75 | 3.33 | 4.36 | 5.03 | 3.13 | 5.06 | 7.71 | 8.09 |
| Material Costs | 16.47 | 15.30 | 18.26 | 25.45 | 35.81 | 33.36 | 30.19 | 55.37 | 70.11 | 65.70 |
| Employee Cost | 1.79 | 1.94 | 2.39 | 2.52 | 2.77 | 2.94 | 2.34 | 3.09 | 3.61 | 3.92 |
| Other Costs ⓘ | 1.01 | 1.29 | 1.34 | 1.59 | 1.83 | 3.42 | 1.51 | 2.19 | 2.24 | 2.04 |
| Operating Profit ⓘ | 1.97 | 2.09 | 2.11 | 1.35 | 2.67 | 1.21 | 2.28 | 2.67 | 3.86 | 4.08 |
| Operating Profit Margin (%) | 8.5% | 9.1% | 7.8% | 3.9% | 5.6% | 2.6% | 5.8% | 3.9% | 4.4% | 4.9% |
| Other Income ⓘ | 0.55 | 0.79 | 0.62 | 0.88 | 0.60 | 0.92 | 0.85 | 1.25 | 1.45 | 1.05 |
| Interest ⓘ | 0.44 | 0.38 | 0.49 | 0.71 | 0.68 | 0.46 | 0.37 | 0.46 | 0.46 | 0.18 |
| Depreciation ⓘ | 0.60 | 0.80 | 0.82 | 0.68 | 0.82 | 0.88 | 0.75 | 0.68 | 0.68 | 0.78 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 1.48 | 1.70 | 1.42 | 0.84 | 1.77 | 0.78 | 2.01 | 2.79 | 4.17 | 4.16 |
| Tax ⓘ | 0.54 | 0.69 | 0.56 | -0.01 | 0.75 | 0.27 | 0.66 | 0.74 | 1.16 | 0.95 |
| Profit After Tax | 0.94 | 1.01 | 0.85 | 0.85 | 1.02 | 0.51 | 1.36 | 2.05 | 3.01 | 3.20 |
| PAT Margin (%) | 4.0% | 4.4% | 3.2% | 2.5% | 2.2% | 1.1% | 3.4% | 3.0% | 3.4% | 3.8% |
| Adjusted EPS (₹) | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.2 | 0.4 | 0.7 | 1.0 | 1.0 |
| Dividend Payout Ratio (%) | 33% | 31% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 18.39 | 20.64 | 21.02 | 21.84 | 22.81 | 23.27 | 24.47 | 26.43 | 29.42 | 32.59 |
| Share Capital ⓘ | 6.16 | 6.23 | 6.23 | 6.23 | 6.23 | 6.23 | 6.23 | 6.23 | 6.23 | 6.23 |
| Reserves ⓘ | 12.23 | 14.42 | 14.80 | 15.61 | 16.58 | 17.05 | 18.24 | 20.21 | 23.20 | 26.36 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 3.17 | 5.34 | 4.47 | 5.47 | 5.66 | 2.46 | 5.47 | 9.56 | 3.18 | 1.30 |
| Long Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Short Term Debt | 3.17 | 5.34 | 4.47 | 5.47 | 5.66 | 2.46 | 5.47 | 9.56 | 3.18 | 1.30 |
| Trade Payables | 0.76 | 0.17 | 0.44 | 0.94 | 1.28 | 1.29 | 0.73 | 0.14 | 0.02 | 0.97 |
| Others Liabilities ⓘ | 2.94 | 1.62 | 1.48 | 0.98 | 1.06 | 1.39 | 1.98 | 2.15 | 2 | 2.27 |
| Total Liabilities ⓘ | 25.26 | 27.77 | 27.41 | 29.23 | 30.81 | 28.41 | 32.65 | 38.28 | 34.63 | 37.13 |
Fixed Assets | ||||||||||
| Gross Block | 10.16 | 11.18 | 11.49 | 11.93 | 13.76 | 14.87 | 14.87 | 15.18 | 16.31 | 17.04 |
| Accumulated Depreciation | 3.88 | 4.68 | 5.50 | 6.08 | 6.88 | 7.76 | 8.40 | 8.89 | 9.58 | 10.16 |
| Net Fixed Assetsⓘ | 6.29 | 6.50 | 5.99 | 5.85 | 6.87 | 7.12 | 6.47 | 6.29 | 6.74 | 6.88 |
| CWIP ⓘ | 0.13 | 0 | 0.04 | 0 | 0 | 0.04 | 0 | 0.01 | 0 | 0 |
| Investmentsⓘ | 0.02 | 0.79 | 0.76 | 0.47 | 0.44 | 0.21 | 0.32 | 0.54 | 0.51 | 0.75 |
| Inventories | 3.93 | 4.86 | 5.21 | 5.67 | 6.34 | 6.35 | 8.70 | 11.60 | 9.25 | 7.56 |
| Trade Receivables | 6.28 | 6.24 | 7.98 | 9.44 | 10.39 | 10.10 | 11.91 | 15.21 | 14.49 | 14.44 |
| Cash Equivalents | 2.67 | 2.97 | 0.73 | 0.98 | 0.60 | 0.51 | 1.11 | 0.51 | 0.33 | 2.08 |
| Others Assetsⓘ | 5.95 | 6.40 | 6.70 | 6.82 | 6.16 | 4.09 | 4.15 | 4.12 | 3.32 | 5.41 |
| Total Assets ⓘ | 25.26 | 27.77 | 27.41 | 29.23 | 30.81 | 28.41 | 32.65 | 38.28 | 34.63 | 37.13 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -3.25 | 0.02 | -0.50 | -0.25 | 1.54 | 4.38 | -2.42 | -3.90 | 7.50 | 4.40 |
| PBT ⓘ | 1.48 | 1.70 | 1.42 | 0.84 | 1.77 | 0.78 | 2.01 | 2.79 | 4.17 | 4.16 |
| Adjustment ⓘ | 0.63 | 0.67 | 1.04 | 0.98 | 1.12 | 1.22 | 0.56 | 0.73 | 0.90 | 0.38 |
| Changes in Working Capital ⓘ | -4.99 | -2.02 | -2.43 | -1.75 | -0.71 | 2.66 | -4.54 | -6.72 | 3.57 | 1 |
| Tax Paid ⓘ | 0 | 0 | -0.53 | -0.31 | -0.64 | -0.28 | -0.46 | -0.70 | -1.14 | -1.13 |
| Cash Flow From Investing Activity ⓘ | -2.83 | -1.34 | -0.36 | 0.20 | -1.43 | -0.81 | 0.39 | -0.34 | -0.85 | -0.58 |
| Capex | -3.21 | -1.02 | -0.30 | -0.49 | -1.84 | -1.12 | 0 | -0.52 | -1.12 | -0.86 |
| Net Investments | 0.17 | -0.77 | -0.28 | 0.22 | 0.01 | 0.03 | 0.12 | -0.09 | 0 | 0.01 |
| Others ⓘ | 0.21 | 0.46 | 0.22 | 0.48 | 0.39 | 0.28 | 0.28 | 0.26 | 0.27 | 0.28 |
| Cash Flow From Financing Activityⓘ | 5.98 | 1.63 | -1.38 | 0.29 | -0.49 | -3.66 | 2.63 | 3.63 | -6.84 | -2.06 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | 0 | 0 | -0.49 | -0.71 | -0.68 | -0.46 | -0.37 | -0.46 | -0.46 | -0.18 |
| Dividend Paid ⓘ | 0 | -0.36 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 5.98 | 1.99 | -0.89 | 1 | 0.19 | -3.20 | 3 | 4.09 | -6.38 | -1.88 |
| Net Cash Flow ⓘ | -0.09 | 0.31 | -2.24 | 0.25 | -0.38 | -0.09 | 0.60 | -0.61 | -0.18 | 1.76 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 6.21 | 5.16 | 4.09 | 3.95 | 4.57 | 2.23 | 5.68 | 8.04 | 10.76 | 10.33 |
| ROCE (%) | 9.81 | 8.49 | 7.4 | 5.87 | 8.79 | 4.61 | 8.56 | 9.85 | 13.49 | 13.06 |
| Asset Turnover Ratio | 1.2 | 0.96 | 0.97 | 1.21 | 1.58 | 1.55 | 1.29 | 1.93 | 2.4 | 2.34 |
| PAT to CFO Conversion(x) | -3.46 | 0.02 | -0.59 | -0.29 | 1.51 | 8.59 | -1.78 | -1.9 | 2.49 | 1.38 | Working Capital Days |
| Receivable Days | 82 | 89 | 97 | 93 | 76 | 81 | 102 | 72 | 62 | 63 |
| Inventory Days | 50 | 63 | 68 | 58 | 46 | 50 | 70 | 54 | 43 | 37 |
| Payable Days | 13 | 11 | 6 | 10 | 11 | 14 | 12 | 3 | 0 | 3 |
Rasi Electrodes Ltd came into being in the year 1994 and started commercial production for MMAW/SMAW electrodes in end of December 1994, under the brand name of Rasi. With well equipped plant & machineries, Laboratory and qualified cum experienced staff to produce Quality Products.
The company was incorporated for manufacturing of MMAW electrodes & marketing of welding consumables under the brand name of Rasi with well equipped plant & machineries, Laboratory and qualified cum experienced staff to produce Quality Products.
From the beginning the company has strived to offer its customers quality in its products, such as Mild Steel, Low Hydrogen, Hard Facing, Stainless Steel, Cast Iron, Cutting and Gouging electrodes and Low Heat Input Welding Alloys (Repair and Maintenance Electrodes)
The electrodes manufacturing, testing machinery and equipments are procured keeping in mind their capability to produce stringent quality products of desired quality meeting not only national and international standards but also meeting specific customer quality requirements.
Their technical service staff helps the customers in studying the welding applications, selection of appropriate electrodes and the procedures, training of welding personal with the aim of achieving customer satisfaction.
They offer a complete range of welding Solutions.
Product range of the company includes:
Conventional
Low Heat Input Welding Alloys
CCMS Wires
MIG/TIG Wires
Flux Cored Wires
SAW Wires & Flux
Welding Rectifier
Welding Transformer
Silver Brazing Wires
MIG/MAG Machines
Achievements/ recognition:
Certification:
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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