Rasi Electrodes Ltd - Stock Valuation and Financial Performance

BSE: 531233 | NSE: | Electrodes & Welding Equipment | Small Cap

Rasi Electrodes Share Price

21.90 -0.72 -3.18%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Rasi Electrodes

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Rasi Electrodes stock performance -

mw4me loader
P/E Ratio (SA):
24.17
Market Cap:
70.4 Cr.
52-wk low:
11.3
52-wk high:
32.9

Is Rasi Electrodes Ltd an attractive stock to invest in?

1. Is Rasi Electrodes Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Rasi Electrodes Ltd is a below average quality company.

2. Is Rasi Electrodes Ltd undervalued or overvalued?

The key valuation ratios of Rasi Electrodes Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Rasi Electrodes Ltd a good buy now?

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.

10 Year X-Ray of Rasi Electrodes:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Rasi Electrodes Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 6.1%6.2%5.4%4.6%5.3%5.4%3.5%5.5%7.2%9.7%-
Value Creation
Index
-0.6-0.6-0.6-0.7-0.6-0.6-0.8-0.6-0.5-0.3-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 20.623.323.126.834.247.44639.568.487.584
Sales YoY Gr.-12.8%-0.9%16.3%27.6%38.5%-3.1%-14.2%73.3%28%-
Adj EPS 0.20.30.30.30.30.30.20.40.710.9
YoY Gr.-31.8%13.8%-18.2%7.4%13.8%-39.4%100%65%45.5%-
BVPS (₹) 4.866.66.877.37.57.98.59.510.2
Adj Net
Profit
0.60.910.90.910.61.32.133
Cash Flow from Ops. 3-3.30-0.5-0.31.54.4-2.4-3.97.5-
Debt/CF from Ops. 1.4-1333.8-8.9-22.13.70.6-2.3-2.50.4-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 17.4%20.7%24%28%
Adj EPS 17.8%27.1%68.7%45.5%
BVPS7.9%6.1%8.1%11.3%
Share Price 12.2% 39.1% 83.1% 78.2%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
4.85.65.24.14.24.62.75.38.110.79.6
Op. Profit
Mgn %
7.38.59.57.94.75.83.15.844.54.5
Net Profit
Mgn %
2.73.94.53.22.72.21.43.233.43.5
Debt to
Equity
0.40.20.30.20.30.30.10.20.40.1-
Working Cap
Days
19119124025422317217221014912157
Cash Conv.
Cycle
14012114416114311312116112410549

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 9.60%

Sales growth is growing at healthy rate in last 3 years 23.95%

Net Profit is growing at healthy rate in last 3 years 68.69%

Sales growth is not so good in last 4 quarters at -1.66%

Latest Financials - Rasi Electrodes Ltd.

Standalone Consolidated
TTM EPS (₹) 0.9 -
TTM Sales (₹ Cr.) 84 -
BVPS (₹.) 10.2 -
Reserves (₹ Cr.) 25 -
P/BV 2.23 -
PE 24.17 -
From the Market
52 Week Low / High (₹) 11.25 / 32.90
All Time Low / High (₹) 0.45 / 32.90
Market Cap (₹ Cr.) 70.4
Equity (₹ Cr.) 6.2
Face Value (₹) 2
Industry PE 20.8

Management X-Ray of Rasi Electrodes:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Rasi Electrodes

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales20.6423.2923.0826.8434.2447.4345.9639.4568.3887.53
Operating Expenses 19.1721.3220.9824.7332.8944.7644.7537.1765.7183.67
Manufacturing Costs1.592.052.452.753.334.365.033.135.067.71
Material Costs15.2916.4715.3018.2625.4535.8133.3630.1955.3770.11
Employee Cost 1.431.791.942.392.522.772.942.343.093.61
Other Costs 0.871.011.291.341.591.833.421.512.192.24
Operating Profit 1.471.972.092.111.352.671.212.282.673.86
Operating Profit Margin (%) 7.1%8.5%9.1%7.8%3.9%5.6%2.6%5.8%3.9%4.4%
Other Income 0.380.550.790.620.880.600.920.851.251.45
Interest 0.620.440.380.490.710.680.460.370.460.46
Depreciation 0.400.600.800.820.680.820.880.750.680.68
Exceptional Items 0000000000
Profit Before Tax 0.831.481.701.420.841.770.782.012.794.17
Tax 0.270.540.690.56-0.010.750.270.660.741.16
Profit After Tax 0.560.941.010.850.851.020.511.362.053.01
PAT Margin (%) 2.7%4.0%4.4%3.2%2.5%2.2%1.1%3.4%3.0%3.4%
Adjusted EPS (₹)0.20.30.30.30.30.30.20.40.71.0
Dividend Payout Ratio (%)0%33%31%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 11.8818.3920.6421.0221.8422.8123.2724.4726.4329.42
Share Capital 4.976.166.236.236.236.236.236.236.236.23
Reserves 6.9112.2314.4214.8015.6116.5817.0518.2420.2123.20
Minority Interest0000000000
Debt4.113.175.344.475.475.662.465.479.563.18
Long Term Debt0000000000
Short Term Debt4.113.175.344.475.475.662.465.479.563.18
Trade Payables0.420.760.170.440.941.281.290.730.140.02
Others Liabilities 1.022.941.621.480.981.061.391.982.152
Total Liabilities 17.4325.2627.7727.4129.2330.8128.4132.6538.2834.63

Fixed Assets

Gross Block6.9510.1611.1811.4911.9313.7614.8714.8715.1816.31
Accumulated Depreciation3.203.884.685.506.086.887.768.408.899.58
Net Fixed Assets3.756.296.505.995.856.877.126.476.296.74
CWIP 00.1300.04000.0400.010
Investments 0.180.020.790.760.470.440.210.320.540.51
Inventories3.093.934.865.215.676.346.358.7011.609.25
Trade Receivables5.206.286.247.989.4410.3910.1011.9115.2114.49
Cash Equivalents 2.762.672.970.730.980.600.511.110.510.33
Others Assets2.455.956.406.706.826.164.094.154.123.32
Total Assets 17.4325.2627.7727.4129.2330.8128.4132.6538.2834.63

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 2.95-3.250.02-0.50-0.251.544.38-2.42-3.907.50
PBT 0.831.481.701.420.841.770.782.012.794.17
Adjustment 0.630.630.671.040.981.121.220.560.730.90
Changes in Working Capital 2.06-4.99-2.02-2.43-1.75-0.712.66-4.54-6.723.56
Tax Paid 000-0.53-0.31-0.64-0.28-0.46-0.70-1.14
Cash Flow From Investing Activity -0.61-2.83-1.34-0.360.20-1.43-0.810.39-0.34-0.85
Capex -0.80-3.21-1.02-0.30-0.49-1.84-1.120-0.52-1.12
Net Investments 00.17-0.77-0.280.220.010.030.12-0.090
Others 0.190.210.460.220.480.390.280.280.260.27
Cash Flow From Financing Activity -1.095.981.63-1.380.29-0.49-3.662.633.63-6.84
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0000000000
Interest Paid 000-0.49-0.71-0.68-0.46-0.37-0.46-0.46
Dividend Paid -0.280-0.360000000
Others -0.815.981.99-0.8910.19-3.2034.09-6.38
Net Cash Flow 1.26-0.090.31-2.240.25-0.38-0.090.60-0.61-0.19
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)56.215.164.093.954.572.235.688.0410.76
ROCE (%)8.999.818.497.45.878.794.618.569.8513.49
Asset Turnover Ratio1.281.20.960.971.211.581.551.291.932.4
PAT to CFO Conversion(x)5.27-3.460.02-0.59-0.291.518.59-1.78-1.92.49
Working Capital Days
Receivable Days858289979376811027262
Inventory Days66506368584650705443
Payable Days14131161011141230

Rasi Electrodes Ltd Stock News

Rasi Electrodes Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Rasi Electrodes on 28-Mar-2024 16:01 is ₹21.90.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 16:01 the market cap of Rasi Electrodes stood at ₹70.42.
The latest P/E ratio of Rasi Electrodes as of 28-Mar-2024 16:01 is 24.17.
The latest P/B ratio of Rasi Electrodes as of 28-Mar-2024 16:01 is 2.23.
The 52-week high of Rasi Electrodes is ₹32.90 and the 52-week low is ₹11.25.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Rasi Electrodes is ₹83.96 ( Cr.) .

About Rasi Electrodes Ltd

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

  • Mild Steel
  • Pipe Welding
  • Low Hydrogen
  • Stainless Steel
  • Cast Iron
  • Hard Facing
  • Cutting & Gouging

Low Heat Input Welding Alloys

  • For Steels
  • For Disimilar Steels
  • For Cast Iron
  • For Stainless Steels
  • For Copper & Non Ferrous Alloys
  • For Nickel & Nickel Alloys
  • For HardSurfacing & Wear Resistant
  • For Cutting & Gouging

CCMS Wires

MIG/TIG Wires

Flux Cored Wires

SAW Wires & Flux

Welding Rectifier

Welding Transformer

Silver Brazing Wires

MIG/MAG Machines

Achievements/ recognition:

Certification:

  • Det Norske Veritas Management System Certificate.ISO 9001:2000
  • Det Norske Veritas Type Approval Certificate.
  • BHEL - Bharat Heavy Electricals Limited – Trichy.
  • Directorate General of Quality Assurance Controllerate of Quality Assurance (Metals)
  • Indian Register of Shipping.
  • Bureau Veritas.
  • Engineers India Limited.
  • IBR.
  • DGS&D.
  • Bureau of Indian Standrds (ISI).
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