BSE: 543978 | NSE: RATNAVEER | Steel & Iron Products | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Ratnaveer Precision Engineering Ltd is a below average quality company.
The key valuation ratios of Ratnaveer Precision Engineering 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 Ratnaveer Precision Engineering 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'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|
| ROCE % ⓘ | 12.7% | 10.9% | 10.8% | 14.5% | 12.9% | - |
| Value Creation Index ⓘ | -0.1 | -0.2 | -0.2 | 0.0 | -0.1 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | ||||||
| Sales ⓘ | 297 | 360 | 427 | 480 | 595 | 769 |
| Sales YoY Gr. | - | 21.1% | 18.7% | 12.4% | 24.1% | - |
| Adj EPS ⓘ | 2 | 1 | 2.8 | 7.3 | 6.2 | 7.5 |
| YoY Gr. | - | -50.3% | 178.2% | 158.7% | -14.4% | - |
| BVPS (₹) ⓘ | 15.6 | 17.3 | 20.2 | 30.5 | 51.9 | 64.4 |
| Adj Net Profit ⓘ | 6.6 | 3.3 | 9.1 | 25.2 | 30.2 | 40 |
| Cash Flow from Ops. ⓘ | 7 | 13.6 | -15.5 | 0.5 | 12.4 | - |
| Debt/CF from Ops. ⓘ | 19.9 | 11.1 | -12.3 | 488.3 | 16.8 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | 18.3% | 24.1% | ||||
| Adj EPS ⓘ | NA | NA | 83.3% | -14.4% | ||||
| BVPSⓘ | NA | NA | 44.3% | 70.2% | ||||
| Share Price | - | - | - | 62.5% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 12.9 | 6.1 | 14.9 | 29.3 | 16.9 | 12.9 |
| Op. Profit Mgn % ⓘ | 8.3 | 5.5 | 6.5 | 9.6 | 8.4 | 9.3 |
| Net Profit Mgn % ⓘ | 2.2 | 0.9 | 2.1 | 5.3 | 5.1 | 5.2 |
| Debt to Equity ⓘ | 2.7 | 2.7 | 2.9 | 2.2 | 0.8 | 0.1 |
| Working Cap Days ⓘ | 0 | 203 | 191 | 207 | 195 | 106 |
| Cash Conv. Cycle ⓘ | 0 | 138 | 129 | 148 | 144 | 48 |
Sales growth is growing at healthy rate in last 3 years 18.30%
Net Profit is growing at healthy rate in last 3 years 83.30%
Debt to equity has declined versus last 3 years average to 0.82
Sales growth is good in last 4 quarters at 52.41%
Return on Equity has declined versus last 3 years average to 12.90%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 7.5 | - |
| TTM Sales (₹ Cr.) | 769 | - |
| BVPS (₹.) ⓘ | 64.4 | - |
| Reserves (₹ Cr.) ⓘ | 289 | - |
| P/BV ⓘ | 2.90 | - |
| PE ⓘ | 24.95 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 107.00 / 273.20 |
| All Time Low / High (₹) | 107.00 / 273.20 |
| Market Cap (₹ Cr.) | 989 |
| Equity (₹ Cr.) | 53.1 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 22.2 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|
| Sales | 297 | 360 | 427 | 480 | 595 |
| Operating Expenses ⓘ | 272 | 340 | 399 | 434 | 545 |
| Manufacturing Costs | 19 | 22 | 25 | 24 | 18 |
| Material Costs | 241 | 306 | 355 | 392 | 512 |
| Employee Cost | 7 | 7 | 8 | 8 | 7 |
| Other Costs ⓘ | 6 | 5 | 12 | 10 | 8 |
| Operating Profit ⓘ | 25 | 20 | 28 | 46 | 50 |
| Operating Profit Margin (%) | 8.3% | 5.5% | 6.4% | 9.5% | 8.4% |
| Other Income ⓘ | 2 | 4 | 2 | 1 | 7 |
| Interest ⓘ | 14 | 12 | 12 | 12 | 12 |
| Depreciation ⓘ | 2 | 3 | 4 | 4 | 6 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 10 | 10 | 13 | 31 | 39 |
| Tax ⓘ | 3 | 4 | 4 | 6 | 8 |
| Profit After Tax | 7 | 5 | 9 | 25 | 31 |
| PAT Margin (%) | 2.4% | 1.5% | 2.2% | 5.2% | 5.2% |
| Adjusted EPS (₹) | 2.2 | 1.7 | 2.9 | 7.2 | 6.4 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 51 | 56 | 66 | 106 | 252 | |||||
| Share Capital ⓘ | 4 | 4 | 4 | 35 | 49 | |||||
| Reserves ⓘ | 47 | 52 | 62 | 71 | 203 | |||||
| Minority Interest | 0 | 0 | 0 | 0 | 0 | |||||
| Debt | 136 | 147 | 189 | 228 | 204 | |||||
| Long Term Debt | 29 | 22 | 31 | 34 | 34 | |||||
| Short Term Debt | 107 | 125 | 158 | 194 | 170 | |||||
| Trade Payables | 36 | 36 | 41 | 37 | 44 | |||||
| Others Liabilities ⓘ | 19 | 17 | 13 | 17 | 16 | |||||
| Total Liabilities ⓘ | 242 | 256 | 309 | 389 | 516 | |||||
Fixed Assets | ||||||||||
| Gross Block | 38 | 50 | 63 | 76 | 106 | |||||
| Accumulated Depreciation | 16 | 19 | 22 | 26 | 32 | |||||
| Net Fixed Assetsⓘ | 22 | 32 | 41 | 50 | 74 | |||||
| CWIP ⓘ | 4 | 3 | 4 | 9 | 45 | |||||
| Investmentsⓘ | 0 | 0 | 0 | 0 | 0 | |||||
| Inventories | 115 | 136 | 171 | 206 | 245 | |||||
| Trade Receivables | 64 | 33 | 40 | 63 | 45 | |||||
| Cash Equivalents | 18 | 19 | 20 | 30 | 60 | |||||
| Others Assetsⓘ | 20 | 33 | 33 | 31 | 48 | |||||
| Total Assets ⓘ | 242 | 256 | 309 | 389 | 516 | |||||
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 7 | 14 | -16 | 0 | 12 |
| PBT ⓘ | 10 | 10 | 13 | 31 | 39 |
| Adjustment ⓘ | 15 | 13 | 15 | 30 | 15 |
| Changes in Working Capital ⓘ | -16 | -6 | -41 | -56 | -35 |
| Tax Paid ⓘ | -3 | -3 | -3 | -4 | -7 |
| Cash Flow From Investing Activity ⓘ | -9 | -11 | -12 | -17 | -63 |
| Capex | -10 | -12 | -13 | -18 | -66 |
| Net Investments | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 1 | 1 | 1 | 1 | 3 |
| Cash Flow From Financing Activityⓘ | 5 | -2 | 28 | 27 | 80 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 115 |
| Net Proceeds from Borrowing ⓘ | -4 | -7 | 8 | 3 | 0 |
| Interest Paid ⓘ | -14 | -12 | -12 | -12 | -12 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 23 | 17 | 31 | 36 | -23 |
| Net Cash Flow ⓘ | 3 | 1 | 1 | 11 | 29 |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 14.14 | 10.19 | 15.53 | 29.18 | 17.36 | |||||
| ROCE (%) | 12.68 | 10.88 | 10.83 | 14.51 | 12.87 | |||||
| Asset Turnover Ratio | 1.22 | 1.44 | 1.51 | 1.38 | 1.32 | |||||
| PAT to CFO Conversion(x) | 1 | 2.8 | -1.78 | 0 | 0.39 | Working Capital Days | ||||
| Receivable Days | 79 | 49 | 31 | 39 | 33 | |||||
| Inventory Days | 142 | 127 | 131 | 143 | 138 | |||||
| Payable Days | 55 | 43 | 40 | 37 | 29 | |||||
Ratnaveer Precision Engineering was incorporated under the provisions of the Companies Act, 1956 as ‘Ratnaveer Stainless Products Private Limited’ on February 20, 2002, as a private limited company vide Certificate of Incorporation issued by Registrar of Companies, Dadra & Nagar Haveli, Gujarat. Subsequently the name of the company was changed to ‘Ratnaveer Metals Private Limited’ vide Special Resolution passed by the shareholders of the company at their Extra-Ordinary General Meeting held on May 28, 2018, and a fresh Certificate of Incorporation was granted by the Registrar of Companies on May 30, 2018. Pursuant to the conversion of the company into a public limited company and the name was changed to ‘Ratnaveer Metals Limited’ vide Special Resolution passed by the shareholders of the company at the Annual General Meeting held on September 27, 2018 and a fresh Certificate of Incorporation dated October 11, 2018 was issued by the Registrar of Companies. Further, the name of the company was changed to ‘Ratnaveer Precision Engineering Limited’ vide Special Resolution passed by the shareholders of the company at their Extra-Ordinary General Meeting held on October 12, 2022, and a fresh Certificate of Incorporation was granted by the Registrar of Companies on November 01, 2022.
Ratnaveer Precision Engineering is a stainless steel (SS) product manufacturer focused on producing finished sheets, washers, solar roofing hooks, pipes and tubes. Stainless steel is a value-added product with high corrosion resistant properties. Higher levels of chromium and additions of other alloy elements enhance the corrosion resistance. Compared to traditional steel, stainless-steel has higher resistance to corrosion, superior aesthetic finish and higher life span. These features have helped in increasing the popularity of stainless-steel across the world. Globally, cold rolled flat products are the largest produced stainless-steel product in the world, followed by hot rolled coils, and steel wire rods & bars. The company operates out of four manufacturing units, out of which two (Unit-I and Unit-II) are located at GIDC, Savli, Vadodara, Gujarat, one (Unit-III) is located at Waghodia, Vadodara, Gujarat and the other one (Unit-IV) is located at GIDC, Vatva, Ahmedabad, Gujarat. Its manufacturing units are strategically located with availability of transportation, which facilitates convenient transportation of its products.
Its products find application across various industries including automotive, solar power, wind energy, power plants, oil & gas, pharmaceuticals, sanitary & plumbing, instrumentation, electro mechanics, architecture, building & construction, electrical appliances, transportation, kitchen appliances, chimney liners, etc. its products are used in both commercial and residential sector and are sold within India and overseas. It is focused at consistently expanding its product portfolio by developing new designs. It constantly engages with its customers through marketing via personal interactions with them. Its sales team works closely with its customers to obtain their insights and feedback about the upcoming trends in the industry which enables it to develop and improve its products to fulfil the requirements of the market.
Business area of the company
The company is engaged in the manufacturing and selling of diverse range of stainless steel products.
Products of the company
Awards, accreditation & recognitions
History and milestones
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