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Rasi Electrodes Ltd (531233)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 531233 NSE: Electrodes & Welding Equipment | Small Cap | Rasi Electrodes Share Price

₹12.60 -0.12 (-0.94%)

As on 02-Jul'26 16:59

Rasi Electrodes Ltd (531233)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 531233 NSE: Electrodes & Welding Equipment | Small Cap | Rasi Electrodes Share Price

₹12.60 -0.12 (-0.94%)

As on 02-Jul'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹39 Cr.
Current Price
₹12.6
52-Week Low / High
₹9 / 22
TTM EPS
₹1.1
TTM Sales
₹72 Cr.
Book Value per Share
₹12.5
P/E Ratio
11.16
Lower than its 5-year historical median
Industry PE
43.1
Price to Book (P/B)
1.01
Lower than its 5-year historical median
Price to Sales (P/S)
0.54
Lower than its 5-year historical median
EV/EBITDA
5.23
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
8.07%
Underperforms industry median
Return on Capital Employed (ROCE)
11.14%
Underperforms industry median
Return on Assets (ROA)
7.20%
Operating Profit Margin
4.9%
Net Profit Margin
3.36%
Gross Profit Margin
5.5%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-2.85%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-9.07%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-14.38%
Asset Quality
Promoter Holding
27.96%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹33 Cr.
Equity
₹6.2 Cr.
Face Value
₹2
All Time Low / High
₹0.45 / 45.24

Rasi Electrodes stock performance

Key Ratios
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Check Before You Invest

M-Cap below 100cr DeciZen not available

Q.1 Is Rasi Electrodes Ltd a good quality company?
Rasi Electrodes Ltd is a quality company, based on a multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Rasi Electrodes Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Rasi Electrodes Ltd vs industry peers?
Rasi Electrodes Ltd revenue CAGR is 12.12%, compared to the industry median CAGR of 7.29%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Rasi Electrodes Ltd?
Promoters hold 27.96% of the Rasi Electrodes Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Rasi Electrodes Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 4.3% based on the current price.

10 Year X-Ray : Login to view analysis.

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

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 8.5%7.4%5.9%8.8%4.6%8.6%9.9%13.5%13.1%11.1%-
Value Creation
Index
-0.4-0.5-0.6-0.4-0.7-0.4-0.30.0-0.1-0.2-

Growth Parameters

Sales 23.126.834.247.44639.568.487.583.881.472
Sales YoY Gr.-16.3%27.6%38.5%-3.1%-14.2%73.3%28%-4.2%-2.9%-
Adj EPS 0.30.30.30.30.20.40.7110.91.1
YoY Gr.--18.2%7.4%13.8%-39.4%100%65%45.5%4.2%-10%-
BVPS (₹) 6.66.877.37.57.98.59.510.511.312.5
Adj Net
Profit
10.90.910.61.32.133.12.84
Cash Flow from Ops. 0-0.5-0.31.54.4-2.4-3.97.54.44.6-
Debt/CF from Ops. 333.8-8.9-22.13.70.6-2.3-2.50.40.30.2-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 15%12.1%6%-2.9%
Adj EPS 11.8%35.1%10.9%-10%
BVPS6.1%8.7%10.1%8.2%
Share Price 6.1% 15.8% -5.3% -35.4%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
5.24.14.24.62.75.38.110.710.18.39.5
Op. Profit
Mgn %
9.57.94.75.83.15.844.54.94.95
Net Profit
Mgn %
4.53.22.72.21.43.233.43.73.54.9
Debt to
Equity
0.30.20.30.30.10.20.40.1000
Working Cap
Days
24025422317217221014912111911888
Cash Conv.
Cycle
144161143113121161124105979483

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales23.0826.8434.2447.4345.9639.4568.3887.5383.8381.44
Operating Expenses + 20.9824.7332.8944.7644.7537.1765.7183.6779.7577.73
Manufacturing Costs2.452.753.334.365.033.135.067.718.098.40
Material Costs15.3018.2625.4535.8133.3630.1955.3770.1165.7062.73
Employee Cost 1.942.392.522.772.942.343.093.613.924.26
Other Costs 1.291.341.591.833.421.512.192.242.042.34
Operating Profit 2.092.111.352.671.212.282.673.864.083.71
Operating Profit Margin (%) 9.1%7.8%3.9%5.6%2.6%5.8%3.9%4.4%4.9%4.6%
Other Income + 0.790.620.880.600.920.851.251.451.050.87
Exceptional Items 0000000000
Interest 0.380.490.710.680.460.370.460.460.180.14
Depreciation 0.800.820.680.820.880.750.680.680.780.68
Profit Before Tax 1.701.420.841.770.782.012.794.174.163.77
Tax 0.690.56-0.010.750.270.660.741.160.951.03
Profit After Tax 1.010.850.851.020.511.362.053.013.202.74
PAT Margin (%) 4.4%3.2%2.5%2.2%1.1%3.4%3.0%3.4%3.8%3.4%
Adjusted EPS (₹)0.30.30.30.30.20.40.71.01.00.9
Dividend Payout Ratio (%)30.90%0%0%0%0%0%0%0%0%0%

Valuation of Rasi Electrodes - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 20.6421.0221.8422.8123.2724.4726.4329.4232.5935.27
Share Capital 6.236.236.236.236.236.236.236.236.236.23
Reserves 14.4214.8015.6116.5817.0518.2420.2123.2026.3629.04
Debt +5.344.475.475.662.465.479.563.181.301.04
Long Term Debt0000000000
Short Term Debt5.344.475.475.662.465.479.563.181.301.04
Minority Interest0000000000
Trade Payables0.170.440.941.281.290.730.140.020.970.39
Others Liabilities 1.621.480.981.061.391.982.1522.272.23
Total Liabilities 27.7727.4129.2330.8128.4132.6538.2834.6337.1338.93

Fixed Assets

Net Fixed Assets +6.505.995.856.877.126.476.296.746.886.48
Gross Block11.1811.4911.9313.7614.8714.8715.1816.3117.0417.25
Accumulated Depreciation4.685.506.086.887.768.408.899.5810.1610.77
CWIP 00.04000.0400.01000
Investments 0.790.760.470.440.210.320.540.510.752.09
Inventories4.865.215.676.346.358.7011.609.257.567.41
Trade Receivables6.247.989.4410.3910.1011.9115.2114.4914.4414.16
Cash Equivalents 2.970.730.980.600.511.110.510.332.085.16
Others Assets 6.406.706.826.164.094.154.123.325.413.64
Total Assets 27.7727.4129.2330.8128.4132.6538.2834.6337.1338.93

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 0.02-0.50-0.251.544.38-2.42-3.907.504.404.57
PBT 1.701.420.841.770.782.012.794.174.163.77
Adjustment 0.671.040.981.121.220.560.730.900.380.30
Changes in Working Capital -2.02-2.43-1.75-0.712.66-4.54-6.723.5711.53
Tax Paid 0-0.53-0.31-0.64-0.28-0.46-0.70-1.14-1.13-1.04
Cash Flow From Investing Activity + -1.34-0.360.20-1.43-0.810.39-0.34-0.85-0.58-1.10
Capex -1.02-0.30-0.49-1.84-1.12-0-0.52-1.12-0.86-0.34
Net Investments -0.77-0.280.220.010.030.12-0.09-00.01-1.18
Others 0.460.220.480.390.280.280.260.270.280.42
Cash Flow From Financing Activity + 1.63-1.380.29-0.49-3.662.633.63-6.84-2.06-0.40
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0000000000
Interest Paid 0-0.49-0.71-0.68-0.46-0.37-0.46-0.46-0.18-0.14
Dividend Paid -0.36000000000
Others 1.99-0.8910.19-3.2034.09-6.38-1.88-0.26
Net Cash Flow 0.31-2.240.25-0.38-0.090.60-0.61-0.181.763.07

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)5.164.093.954.572.235.688.0410.7610.338.07
ROCE (%)8.497.45.878.794.618.569.8513.4913.0611.14
Asset Turnover Ratio0.960.971.211.581.551.291.932.42.342.14
PAT to CFO Conversion(x)0.02-0.59-0.291.518.59-1.78-1.92.491.381.67
Working Capital Days
Receivable Days89.4096.7092.9076.3081.40101.8072.4061.906364.10
Inventory Days62.8068.405846.2050.4069.6054.2043.5036.6033.50
Payable Days11.106.109.9011.301412.202.900.402.804

Management X-Ray

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 (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Rasi Electrodes Ltd FAQs

The current trading price of Rasi Electrodes on 02-Jul-2026 16:59 is ₹12.60.

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 01-Jul-2026 the market cap of Rasi Electrodes stood at ₹39.22 Cr

The latest P/E ratio of Rasi Electrodes as of 01-Jul-2026 is 11.16.

The latest P/B ratio of Rasi Electrodes as of 01-Jul-2026 is 1.01.

The 52-week high of Rasi Electrodes is ₹22.45 and the 52-week low is ₹9.27.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Rasi Electrodes is ₹72.02 ( Cr.) .

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 Fair 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.

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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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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