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INVESTMENT INSIGHTS

Check Before You Invest : BN Rathi Securities Ltd

BSE: 523019 NSE: ISIN: INE710D01028
  |   Sector:  BFSI   |   Industry:  Finance - Stock Broking

Snapshot

Q.1 Which industry/sub-sector does BN Rathi Securities Ltd belong to?
BN Rathi Securities Ltd belongs to the BFSI sector, operating specifically within the Finance - Stock Broking segment.
Q.2 Is BN Rathi Securities Ltd a good quality company?
BN Rathi Securities Ltd is a quality company, based on a 10-year financial track record.
Q.3 Is BN Rathi Securities Ltd undervalued or overvalued?
BN Rathi Securities Ltd appears Fair, as its key valuation ratios are in line with their past averages.
Q.4 Is BN Rathi Securities Ltd a good buy now?
BN Rathi Securities Ltd is not a good buy now, based on weak price trend analysis suggesting prices may fall. However, you need to check its quality and valuation before making a decision

Performance Analysis

Q.1 Revenue growth of BN Rathi Securities Ltd?
BN Rathi Securities Ltd revenue growth is 2.7% for FY-2025, which is below its 5-year CAGR of 15.68%, indicating slower growth.
Q.2 Return on capital employed (ROCE) of BN Rathi Securities Ltd?
BN Rathi Securities Ltd Return on capital employed is 22.4% for FY-2025, which is below its 5-year historical median of 24.9%. The current ROCE is above its estimated weighted average cost of capital (WACC) of 14%, indicating value creation.
Q.3 Return on Asset of BN Rathi Securities Ltd?
BN Rathi Securities Ltd Return on Asset is 5%, which is in line with its 5-year historical median of 5%, indicating stable asset utilization efficiency.
Q.4 Return on Equity (ROE) of BN Rathi Securities Ltd?
BN Rathi Securities Ltd Return on equity is 15.5% for FY-2025, which is below its 5-year historical median of 17.4%, indicating the business is making worse use of its shareholders capital.
Q.5 Cash conversion cycle of BN Rathi Securities Ltd?
BN Rathi Securities Ltd Cash conversion cycle is 84 days, above its 5-year historical median of -800 days, indicating deteriorated working capital management. However, you need to compare this with its peers in the industry.
Current Level 5-year
Historic Median
Asset Turnover 0.25 0.27
ROE 15.5 17.4
ROCE 22.4 24.9
Cash Conversion Cycle 84 days -800 days
Q.6 Gross Profit margin of BN Rathi Securities Ltd?
BN Rathi Securities Ltd Gross profit margin which is the profit after deduction of direct costs, is 29% for FY-2025, which is above its 5-year median of 26.8%, indicating increasing margins.
Q.7 Operating Profit Margin of BN Rathi Securities Ltd?
BN Rathi Securities Ltd Operating Profit Margin which is the profit after deduction of all operating costs, is 9.4% for FY-2025, which is in line with its 5-year median of 9.71% indicating stable margins.
Q.8 Net Profit Margin of BN Rathi Securities Ltd?
BN Rathi Securities Ltd Net Profit Margin is 20.33% for FY-2025, is above with its 5-year median of 18.53%, indicating increasing margins.
Current Level 5-year
Historic Median
Gross Profit Margin 29 26.8
Operating Profit Margin 9.4 9.71
Net Profit Margin 20.33 18.53
Q.9 Debt to Equity ratio of BN Rathi Securities Ltd?
BN Rathi Securities Ltd Debt-to-Equity ratio is 0.00, which is lower with the industry average of 0.11, indicating lower debt levels in the industry.
Q.10 Debt to cash flow from operations of BN Rathi Securities Ltd?
BN Rathi Securities Ltd Debt to cash flow from operations is 0, which is at a healthy level.

Ownership & governance

Q.1 Promoter shareholding and pledge status of BN Rathi Securities Ltd?
Promoters hold 46.76% of the BN Rathi Securities Ltd, with 0.00% of their stake pledged, indicating no pledge risk.

Peer comparison (industry-wise, mcap)

Q.1 Revenue growth of BN Rathi Securities Ltd vs industry peers?
BN Rathi Securities Ltd revenue CAGR is 15.68%, compared to the industry median CAGR of 18.37%, indicating slower growth and losing its market share.
Profit Metrics
Current Level 5-year
Industry Median
Revenue Growth 2.7 18.4
Gross Profit Growth -1.3 24.6
Operating Profit Growth -21.2 28.8
Net Profit Growth -4.6 NAN
Operating Efficiency
Current Level 5-year
Industry Median
Asset Turnover 0.25 0.26
ROE 15.5 8.05
ROCE 22.4 10.2
Cash Conversion Cycle (days) 83.82 -107

Valuation & price assessment

Q.1 Stock return of BN Rathi Securities Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 16.4% based on the current price.
Q.2 What return has the stock given over the last decade?
9Y 5Y 3Y 1Y
Share Price
CAGR		 16.4% 25.4% 21% -33.5%
Q.3 Valuation ratios of BN Rathi Securities Ltd vs historical?
The current P/E is similar that its historical median.
Q.4 How do the current valuation ratios compare with 5-year historical median and industry numbers?
Valuation Ratios Current 5-year
Historic Median		 5-year
Industry Median
Price to Earnings 8.14 8.29 20.01
Price to Book 0.92 0.98 1.64
Price to Sales 1.7 1.50 5.20
EV to EBITDA -3.42 -3.73 6.89

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