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10 Yrs X-Ray 
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Analyst Note 
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About
Rama Phosphates Ltd (RAMAPHO)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 524037 NSE: RAMAPHO Fertilizers | Small Cap | Rama Phosphates Share Price
₹125.70 -1.45 (-1.14%)
As on 07-Jul'26 16:01
Rama Phosphates Ltd (RAMAPHO)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 524037 NSE: RAMAPHO Fertilizers | Small Cap | Rama Phosphates Share Price
₹125.70 -1.45 (-1.14%)
As on 07-Jul'26 16:01
Key Metrics
Valuation Multiples
Market Cap
₹450 Cr.
Current Price
₹125.7
52-Week Low / High
₹103 / 216
TTM EPS
₹14.9
TTM Sales
₹893 Cr.
Book Value per Share
₹96.3
P/E Ratio
8.54
In line with its 5-year historical median
Industry PE
16
Price to Book (P/B)
1.32
Lower than its 5-year historical median
Price to Sales (P/S)
0.50
Lower than its 5-year historical median
EV/EBITDA
6.48
Higher than its 5-year historical median
Dividend Yield
0.2%
Profitability Efficiency
Return on Equity (ROE)
4.84%
Underperforms industry median
Return on Capital Employed (ROCE)
9.39%
In line with industry median
Return on Assets (ROA)
2.17%
Operating Profit Margin
5.9%
Net Profit Margin
1.84%
Gross Profit Margin
4.5%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
23.3%
Operating Profit Growth (1 Year)
-
-
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
75.00%
Pledged shares (%) of Promoter's holding (%)
13.33%
Reserves
₹323 Cr.
Equity
₹17.7 Cr.
Face Value
₹5
All Time Low / High
₹0.28 / 258.50
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Quality
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Valuation
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Price Trend
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Is Rama Phosphates Ltd a good quality company?
Rama Phosphates Ltd is a average quality company, based on a somewhat consistent 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 Rama Phosphates Ltd performance compare with that of its Peers?
Revenue growth of Rama Phosphates Ltd vs industry peers?
Rama Phosphates Ltd revenue CAGR is 10.65%, compared to the industry median CAGR of 8.22%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Rama Phosphates Ltd?
Promoters hold 75.00% of the Rama Phosphates Ltd, with 13.33% of their stake pledged, indicating high pledge risk.
Stock return of Rama Phosphates Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 15.2% 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 endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
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.
Rama Phosphates Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
Value Creation ⓘ
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 12.9% | 11.9% | 9.1% | 21.4% | 13.4% | 29.4% | 39.1% | 17.1% | -6.7% | 9.4% | - |
| Value Creation Index ⓘ | -0.1 | -0.2 | -0.4 | 0.5 | -0.1 | 1.1 | 1.8 | 0.2 | -1.5 | -0.3 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 389 | 382 | 373 | 607 | 448 | 580 | 878 | 875 | 603 | 744 | 893 |
| Sales YoY Gr. | - | -1.8% | -2.4% | 62.7% | -26.1% | 29.5% | 51.3% | -0.4% | -31.1% | 23.3% | - |
| Adj EPS ⓘ | 2.5 | 1.9 | 1.4 | 6 | 5 | 11.5 | 19.4 | 11.9 | -9.1 | 3.5 | 14.9 |
| YoY Gr. | - | -25.4% | -28.2% | 342.2% | -16.6% | 130.5% | 68.8% | -38.4% | -175.9% | NA | - |
| BVPS (₹) ⓘ | 34.5 | 36.8 | 38 | 42.8 | 47 | 57.8 | 76.3 | 87.4 | 78.1 | 81.9 | 96.3 |
| Adj Net Profit ⓘ | 8.9 | 6.6 | 4.8 | 21.1 | 17.6 | 40.6 | 68.6 | 42.2 | -32 | 12.4 | 53 |
| Cash Flow from Ops. ⓘ | 17.9 | 12.2 | 13.2 | 20.7 | 26.1 | 44.5 | -8.6 | -36.3 | -5.1 | 39.9 | - |
| Debt/CF from Ops. ⓘ | 3 | 4.2 | 3.6 | 1.3 | 0.9 | 0.1 | -6.4 | -3.1 | -27.9 | 3.1 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 7.5% | 10.7% | -5.4% | 23.3% | ||||
| Adj EPS ⓘ | 3.7% | -6.8% | -43.5% | NA | ||||
| BVPSⓘ | 10.1% | 11.8% | 2.4% | 4.8% | ||||
| Share Price | 15.1% | -2.3% | 1.8% | -4.3% | ||||
Key Financial Parameters ⓘ
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 7.5 | 5.3 | 3.6 | 14.8 | 11.1 | 21.9 | 29 | 14.6 | -9.7 | 3.4 | 16.7 |
| Op. Profit Mgn % ⓘ | 6.7 | 5.5 | 4.8 | 7.1 | 6 | 10.5 | 12.5 | 8.5 | -3.6 | 5.9 | 9.8 |
| Net Profit Mgn % ⓘ | 2.3 | 1.7 | 1.3 | 3.5 | 3.9 | 7 | 7.8 | 4.8 | -5.3 | 1.7 | 5.9 |
| Debt to Equity ⓘ | 0.4 | 0.4 | 0.4 | 0.2 | 0.1 | 0 | 0.2 | 0.4 | 0.5 | 0.4 | 0 |
| Working Cap Days ⓘ | 224 | 244 | 242 | 144 | 192 | 144 | 118 | 162 | 259 | 210 | 93 |
| Cash Conv. Cycle ⓘ | 33 | 41 | 54 | 36 | 54 | 42 | 41 | 60 | 111 | 83 | 44 |
Profit And Loss
(All Figures are in Crores.)| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 389 | 382 | 373 | 607 | 448 | 580 | 878 | 875 | 603 | 744 |
| Operating Expenses ⓘ + | 364 | 361 | 355 | 566 | 425 | 520 | 769 | 802 | 625 | 700 |
| Operating Profit ⓘ | 25 | 21 | 18 | 40 | 24 | 61 | 110 | 73 | -21 | 44 |
| Operating Profit Margin (%) | 6.4% | 5.5% | 4.7% | 6.7% | 5.3% | 10.5% | 12.5% | 8.3% | -3.6% | 5.9% |
| Other Income ⓘ + | 1 | 4 | 2 | 1 | 2 | 3 | 6 | 1 | 2 | 4 |
| Interest ⓘ | 11 | 9 | 8 | 8 | 3 | 2 | 11 | 9 | 13 | 13 |
| Depreciation ⓘ | 4 | 3 | 3 | 3 | 4 | 5 | 11 | 10 | 9 | 8 |
| Profit Before Tax ⓘ | 12 | 13 | 8 | 31 | 22 | 57 | 94 | 55 | -41 | 26 |
| Tax ⓘ | 4 | 4 | 3 | 11 | 4 | 15 | 24 | 14 | -10 | 12 |
| Profit After Tax | 8 | 9 | 5 | 19 | 18 | 42 | 70 | 41 | -31 | 14 |
| PAT Margin (%) | 2.1% | 2.2% | 1.5% | 3.2% | 3.9% | 7.3% | 8.0% | 4.7% | -5.2% | 1.8% |
| Adjusted EPS (₹) | 2.3 | 2.4 | 1.5 | 5.5 | 5.0 | 11.9 | 19.8 | 11.6 | -8.8 | 3.9 |
| Dividend Payout Ratio (%) | 17.50% | 20.80% | 32.80% | 9.10% | 10% | 8.40% | 5.10% | 4.30% | 0% | 6.50% |
Valuation of Rama Phosphates - Standalone
Analyst's Notes
No data found!
Balance Sheet
(All Figures are in Crores.)| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 122 | 130 | 134 | 151 | 166 | 204 | 270 | 309 | 353 | 371 | |
| Debt + | 53 | 51 | 47 | 27 | 24 | 5 | 55 | 111 | 143 | 122 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 87 | 92 | 75 | 82 | 85 | 74 | 60 | 81 | 96 | 102 | |
| Others Liabilities ⓘ | 31 | 28 | 23 | 32 | 24 | 28 | 58 | 34 | 34 | 39 | |
| Total Liabilities ⓘ | 293 | 301 | 279 | 292 | 299 | 311 | 443 | 534 | 626 | 634 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 34 | 32 | 31 | 33 | 43 | 72 | 79 | 77 | 168 | 164 | |
| CWIP ⓘ | 4 | 4 | 5 | 13 | 20 | 5 | 14 | 20 | 23 | 25 | |
| Investments ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Inventories | 54 | 65 | 85 | 98 | 107 | 117 | 177 | 177 | 215 | 209 | |
| Trade Receivables | 78 | 74 | 56 | 57 | 48 | 38 | 21 | 63 | 75 | 60 | |
| Cash Equivalents | 5 | 4 | 5 | 5 | 6 | 8 | 6 | 6 | 10 | 12 | |
| Others Assets ⓘ | 118 | 121 | 96 | 86 | 76 | 70 | 145 | 191 | 135 | 163 | |
| Total Assets ⓘ | 293 | 301 | 279 | 292 | 299 | 311 | 443 | 534 | 626 | 634 | |
Cash Flow
(All Figures are in Crores.)| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 18 | 12 | 13 | 21 | 26 | 44 | -9 | -36 | -5 | 40 |
| Cash Flow From Investing Activity ⓘ + | -2 | -1 | -3 | -12 | -21 | -21 | -32 | -8 | -11 | -4 |
| Cash Flow From Financing Activity ⓘ + | -14 | -12 | -10 | -9 | -5 | -23 | 40 | 45 | 16 | -36 |
| Net Cash Flow ⓘ | 1 | -1 | 1 | -0 | 0 | -0 | -0 | 0 | -0 | -0 |
Financial Ratio
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 6.79 | 6.74 | 4.08 | 13.59 | 11.14 | 22.74 | 29.56 | 14.15 | -10.62 | 4.84 |
| ROCE (%) | 12.87 | 11.93 | 9.06 | 21.4 | 13.37 | 29.42 | 39.09 | 17.05 | -6.7 | 9.39 |
| Asset Turnover Ratio | 1.38 | 1.29 | 1.29 | 2.12 | 1.52 | 1.9 | 2.33 | 1.79 | 1.04 | 1.18 |
| PAT to CFO Conversion(x) | 2.25 | 1.33 | 2.6 | 1.11 | 1.44 | 1.05 | -0.13 | -0.88 | N/A | 2.86 |
| Working Capital Days | ||||||||||
| Receivable Days | 61.40 | 72.70 | 63.60 | 34.10 | 42.70 | 27.20 | 12.40 | 17.60 | 41.70 | 33.10 |
| Inventory Days | 68.40 | 57 | 73.10 | 55.10 | 83.30 | 70.40 | 61.10 | 73.80 | 118.60 | 104.10 |
| Payable Days | 120 | 129.40 | 125.60 | 65.90 | 102.80 | 75.20 | 44 | 41.20 | 68.50 | 70.90 |
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 13.33 | 13.33 | 13.33 | 13.33 | 13.33 | 13.33 | 13.33 | 13.33 | 13.33 | 13.33 |
* Pledged shares as % of Promoter's holding (%)
Top 5 Mutual Funds Holding
Last Visited Stocks
Announcements
Rama Phosphates Ltd FAQs
The current trading price of Rama Phosphates on 07-Jul-2026 16:01 is ₹125.7.
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 06-Jul-2026 the market cap of Rama Phosphates stood at ₹449.9 Cr
The latest P/E ratio of Rama Phosphates as of 06-Jul-2026 is 8.54.
The latest P/B ratio of Rama Phosphates as of 06-Jul-2026 is 1.32.
The 52-week high of Rama Phosphates is ₹216.0 and the 52-week low is ₹103.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Rama Phosphates is ₹893 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Rama Phosphates Ltd is a average quality company.
The key valuation ratios of Rama Phosphates 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 Semi Strong which suggest that the price of Rama Phosphates Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
About Rama Phosphates Ltd
Rama Phosphates (RPL) is a leading manufacturer of phosphatic fertilizers in India, specializing in Single Super Phosphate (SSP). It operates as a public limited company, with its shares listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The company has diversified manufacturing divisions, including Fertilizers, Chemicals, and Soya Edible Oil.
RPL's manufacturing units are strategically located in regions with the highest consumption of phosphatic fertilizers in India. The company produces a wide range of fertilizers in both powder and granular forms, as well as chemicals such as Sulphuric Acid and Oleum, and micronutrients like Magnesium Sulphate. Its oil division focuses on the extraction of soybean oil and the production of value-added products such as Lecithin.
The company holds a strong position in the fertilizer industry through its leading brands, “Girnar” and “Suryaphool”. Built on a foundation of integrity, RPL is committed to continuously enhancing its products and services while contributing to sustainable agricultural growth. The company ensures the availability of fertilizers across the country at affordable prices and provides a one-stop solution for the diverse needs of Indian farmers.
Business area of the company
The company is an agrochemical solutions provider and one of the leading manufacturers of phosphatic fertilizers in India. It is engaged in the manufacturing of fertilizers, sulphuric acid, micronutrients, and soya oil.
Products
- Fertilizers and Micronutrients
- Chemical
- Oil
Milestones/ Awards/ Achievements
- 1987: Fertilizer plant with capacity of 165000 MT PA
- 1987: First acid plant at Indore
- 1992: Soya seeds crushing plant at Indore with capacity of 120000 MT
- 1995: Fertilizer plant with capacity of 132000 MT PA
- 1995: Acid plant at Pune
- 1996: Fertilizer plant with capacity of 132000 MT PA at Udaipur
- 2001: Difficult phase of the Company with negative net worth and was referred to BIFR
- 2009: Turnaround phase for the Company and it was back on the Growth Path
- 2010: Expansion of fertilizer plant from 132000 MT PA to 181000 MT PA at Udaipur
- 2016: Expansion of fertilizer plant from 165000 MT PA to 250000 MT PA at Indore
- 2017: Greenfield Micro-Nutrient plant at Indore
- 2020: Greenfield LABSA plant at Udaipur
- 2021: Second acid plant at Indore
- 2021: Solar Plant at Udaipur
- 2021: Expansion of fertilizer plant from capacity of 180000 MT PA to 250000 MT PA
- 2021: New product launch at Pune unit
- 2022: Exited from CDR
- 2022: New plant at Nimbahera on long term lease with capacity of 66000 MT PA
- 2022: Purchased highly automated Plant & Machinery for SSP plant for Dhule project
- 2022: Purchased 54 acre MIDC land at Dhule for a new green field project
- 2022: Won Best Production Performance award for Single Super
- 2022: Phosphate (SSP) fertilizer plant by Fertilizer Association of India (FAI) for the 5th time.
- 2022: Improved rating from ICRA for BBB+/Stable to ICRA A-/Stable for long term limits and short-term ratings have been upgraded from ICRA A2 to ICRA A2+
- 2023: New SSF & GSSP plant at Indore
- 2023: New SSF plant at Udaipur
- 2023: Received Environmental Clearance (EC) for Dhule project
- 2023: Release of 41% of pledged shares of promoter group
- 2024: Automation in production process
- 2024: NABL Accredited Quality Control Laboratory in Indore & Udaipur
- 2024: ISO Accreditation
- 2024: 6th time FAI Award for “BEST PRODUCTION PERFORMANCE” amongst 105 Industries
- 2024: Introduced Magnesium Fortified Boron Zinc SSP - Introduced Traded Products like “BORON”, “PDM”, “CALCI N”, “WATER SOLUBLE FERTILIZER”
- 2025: Introduced Uro Super & Neemo First time Imported MOP
- 2025: Certificate of Appreciation was awarded to Udaipur Unit in recognition for appreciable achievement in Occupational Safety & Health during 2021 -2023 on January 17, 2025.
- 2025: Nimbahera Unit received “State Safety Award - 2025” at the hands of the Chief Inspector of Factories & Boilers - Government of Rajasthan on March 4, 2025.
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