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RKEC Projects Ltd (RKEC)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 0 NSE: RKEC Engineering - Construction | Small Cap | RKEC Projects Share Price

BSE Share Price
Not Listed

RKEC Projects Ltd (RKEC)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 0 NSE: RKEC Engineering - Construction | Small Cap | RKEC Projects Share Price

BSE Share Price
Not Listed
Key Metrics
Valuation Multiples
Market Cap
₹80 Cr.
Current Price
₹0
52-Week Low / High
₹0 / 0
TTM EPS
₹3.7
TTM Sales
₹258 Cr.
Book Value per Share
₹81.4
P/E Ratio
8.40
Lower than its 5-year historical median
Industry PE
29.9
Price to Book (P/B)
0.38
Lower than its 5-year historical median
Price to Sales (P/S)
0.31
Lower than its 5-year historical median
EV/EBITDA
5.35
Lower than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
11.23%
Outperforms industry median
Return on Capital Employed (ROCE)
16.44%
Outperforms industry median
Return on Assets (ROA)
4.01%
Operating Profit Margin
15.3%
Net Profit Margin
5.02%
Gross Profit Margin
9.7%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
16.98%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
1.82%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
0.81%
Asset Quality
Promoter Holding
66.51%
Pledged shares (%) of Promoter's holding (%)
78.51%
Reserves
₹184 Cr.
Equity
₹25.8 Cr.
Face Value
₹10
All Time Low / High
- / -

RKEC Projects stock performance

Key Ratios
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Check Before You Invest

M-Cap below 100cr DeciZen not available

Q.1 Is RKEC Projects Ltd a good quality company?
RKEC Projects 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 RKEC Projects Ltd performance compare with that of its Peers?
Q.1 Revenue growth of RKEC Projects Ltd vs industry peers?
RKEC Projects Ltd revenue CAGR is 6.02%, compared to the industry median CAGR of 0%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of RKEC Projects Ltd?
Promoters hold 66.51% of the RKEC Projects Ltd, with 78.51% of their stake pledged, indicating high pledge risk.
Q.1 Stock return of RKEC Projects Ltd over the last decade?
Over the last 5 year(s), the stock has delivered a CAGR of -12.77% based on the current price.

10 Year X-Ray :

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.
RKEC Projects Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 28.5%74.2%57.9%37.3%33.9%15.9%10.7%19.9%19%16.4%-
Value Creation
Index
1.04.33.11.71.40.1-0.20.40.40.2-

Growth Parameters

Sales 113197240244298202209300341399258
Sales YoY Gr.-75.2%21.5%1.8%22.1%-32.1%3.1%43.8%13.7%17%-
Adj EPS 3.36.18.51016.55.32.65.17.873.7
YoY Gr.-83.2%38.9%17.9%65.1%-67.9%-50.7%93.1%53.4%-9.5%-
BVPS (₹) 26.518.831.24050.155.456.861.970.278.681.4
Adj Net
Profit
3.211.820.42439.712.76.312.118.616.89
Cash Flow from Ops. 24.719.5-247.339.1-35.912.316.317.311.3-
Debt/CF from Ops. 0.60-0.66.81.8-3.111.57.18.718.7-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 15.1%6%24.1%17%
Adj EPS 8.6%-15.8%38.9%-9.5%
BVPS12.8%9.4%11.4%11.9%
Share Price - -18.5% -17.7% -60.1%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
13.438.236.828.236.710.14.78.511.89.44.6
Op. Profit
Mgn %
11.614.516.218.924.117.314.218.417.615.312.7
Net Profit
Mgn %
2.968.59.913.36.3345.54.23.7
Debt to
Equity
0.600.20.50.60.810.80.91.10.1
Working Cap
Days
181143149215240439441324326333889
Cash Conv.
Cycle
659294114112287375271254242261

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales112.58197.24239.72243.99297.93202.31208.65299.97341.09399.02
Operating Expenses + 99.53168.71200.97197.99226.29167.32178.99244.64281.04337.88
Manufacturing Costs058.2171.2291.2888.3267.0967.3083.9099.44148.58
Material Costs45.3794.54106.2385.26109.9577.3588.49125.28148.21140.93
Employee Cost 8.1012.6015.4513.4018.3514.2017.0118.1421.6332.13
Other Costs 46.063.368.078.059.678.686.1817.3211.7716.23
Operating Profit 13.0528.5438.754671.6434.9929.6655.3360.0561.14
Operating Profit Margin (%) 11.6%14.5%16.2%18.9%24.0%17.3%14.2%18.4%17.6%15.3%
Other Income + 0.922.881.051.472.583.462.173.713.586.85
Exceptional Items -0.05000-13.3300000
Interest 5.328.434.179.3315.9317.0118.7427.1627.3729.16
Depreciation 3.442.743.093.544.143.993.914.978.128.87
Profit Before Tax 5.1720.2532.5434.6140.8117.469.1926.9128.1429.96
Tax 1.987.3212.1910.4710.544.692.9014.788.279.93
Profit After Tax 3.1912.9320.3524.1330.2712.766.2812.1319.8720.03
PAT Margin (%) 2.8%6.6%8.5%9.9%10.2%6.3%3.0%4.0%5.8%5.0%
Adjusted EPS (₹)1.76.78.510.112.65.32.65.18.38.4
Dividend Payout Ratio (%)0%22.40%23.60%19.90%0%22.60%0%0%0%0%

Valuation of RKEC Projects - 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 + 25.6336.2274.7395.98120.09132.86136.26148.56168.43188.46
Share Capital 9.6619.3123.9923.9923.9923.9923.9923.9923.9923.99
Reserves 15.9716.9050.7471.9896.10108.87112.27124.57144.44164.47
Debt +14.980.4215.0348.1565.37107.06137.43111.23138.98195.46
Long Term Debt00.421.201.513.926.0648.9442.8640.3226.70
Short Term Debt14.98013.8346.6461.4510188.4968.3698.66168.76
Minority Interest0000000000
Trade Payables19.4028.9441.3175.0793.8066.5648.1474.0677.39120.01
Others Liabilities 51.2746.8817.7314.4341.875135.7550.7345.6865.21
Total Liabilities 111.28112.46148.80233.63321.14357.49357.59384.57430.49569.14

Fixed Assets

Net Fixed Assets +12.2110.8114.2519.5732.9754.7352.1454.1153.46102.64
Gross Block12.2131.8338.3246.7837.1262.7964.1089.9697.47155.52
Accumulated Depreciation021.0224.0727.214.148.0511.9635.8544.0152.88
CWIP 0009.9722.530.050.059.2027.836.89
Investments 0000.130.010.060000
Inventories47.9531.9015.1044.5271.9971.5373.1092.47110.62196.58
Trade Receivables19.1539.5282.0382.15106.53168.96147.50160.75175.38168.60
Cash Equivalents 23.7322.4918.4333.0544.4337.4465.9627.6133.5247.04
Others Assets 8.257.7318.9844.2342.6824.7118.8540.4429.6847.39
Total Assets 111.28112.46148.80233.63321.14357.49357.59384.57430.49569.14

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 24.7319.50-247.3239.07-35.9412.2716.2817.2511.34
PBT 5.1720.2532.5434.6140.8117.469.1927.1328.1429.96
Adjustment 7.958.275.907.5112.9113.4113.9117.3121.1126.06
Changes in Working Capital 12.88-4.02-50.87-24.32-4.11-62.11-7.92-13.32-23.73-34.75
Tax Paid -1.27-5-11.57-10.47-10.54-4.69-2.90-14.83-8.27-9.93
Cash Flow From Investing Activity + 0.232.05-3.71-33.93-36.573.91-2.795.03-31.08-43.94
Capex -0.580.88-6.53-8.86-17.85-25.74-1.31-6.94-7.47-58.04
Net Investments 00000.13-0.130.06000
Others 0.811.172.82-25.08-18.8429.78-1.5411.97-23.6114.11
Cash Flow From Financing Activity + -5.63-22.9125.4324.790.1130.1915.33-40.5913.1837
Net Proceeds from Shares 0021.050000000
Net Proceeds from Borrowing -0.310.480.770.312.412.1442.89-6.08-2.54-13.62
Interest Paid -5.32-8.40-3.85-5.44-11.33-11.51-12.16-14.38-14.58-19.48
Dividend Paid 00-3.49-2.89-5.780-2.88000
Others -0-14.9810.9532.8114.8139.55-12.51-20.1330.3070.10
Net Cash Flow 19.33-1.36-2.28-1.822.61-1.8424.81-19.28-0.664.40

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)13.2941.836.6928.2728.0210.094.678.5212.5311.23
ROCE (%)28.5374.1957.8737.2733.8615.9210.7219.9419.0316.44
Asset Turnover Ratio1.351.761.841.281.070.60.580.810.840.8
PAT to CFO Conversion(x)7.751.51-1.180.31.29-2.821.951.340.870.57
Working Capital Days
Receivable Days55.2054.3092.50122.80115.60248.50276.80187.50179.80157.30
Inventory Days104.3073.9035.8044.6071.40129.50126.50100.70108.70140.50
Payable Days118.6064.1063.90123.30151192.6056.9031.9066133.90

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *59.9259.9259.9276.7478.9578.9578.9570.5770.5778.51
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

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Announcements

RKEC Projects Ltd FAQs

The current trading price of RKEC Projects on 01-Jan-1970 05:30 is ₹0.00.

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 31-Dec-1969 the market cap of RKEC Projects stood at ₹79.66 Cr

The latest P/E ratio of RKEC Projects as of 31-Dec-1969 is 8.40.

The latest P/B ratio of RKEC Projects as of 31-Dec-1969 is 0.38.

The 52-week high of RKEC Projects is ₹0.00 and the 52-week low is ₹0.00.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of RKEC Projects is ₹258 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that RKEC Projects Ltd is a good quality company.

The key valuation ratios of RKEC Projects Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of RKEC Projects Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About RKEC Projects Ltd

RKEC Projects was originally incorporated on April 01, 2005 as ‘RKEC Projects Private Limited’ vide under the provisions of the Companies Act, 1956 with the Registrar of Companies, Andhra Pradesh, Hyderabad. The Company after its incorporation takeover the running business of a proprietorship firm of their Promoter Radhakrishna Garapati with effect from April 01, 2006 ‘RK Engineers & Contractors’. Further, the Company was converted into a Public Limited Company pursuant to Shareholders Resolution passed at the Extra Ordinary General Meeting of the Company held on October 31, 2016 and the name of company was changed to ‘RKEC Projects Limited’ vide a fresh Certificate of incorporation dated November 10, 2016, issued by the Registrar of Companies, Hyderabad.

They are a construction company primarily engaged in the business of Civil Construction such as construction of Highways, roads and bridges. During the last decade, they have undertaken and successfully completed many construction projects in India covering states of Andhra Pradesh, Tamil Nadu, Gujarat, Odisha, Rajasthan and Maharashtra. In addition to them, they have expanded their presence to three more states, Kerala, Uttar Pradesh and Manipur, with their ongoing projects. They have been able to achieve their targets by fusing tremendous engineering knowledge with groundbreaking skills, experienced team, binding an optimum mix of men, machine and materials across diverse projects.

Business area of the Company

Their core business is designing and undertaking construction projects such as Bridges, Ports, dams, high-rise structures, airports, cross water, roads, highways, Oil and gas Pipelines, complexes and environmental structures across India. They have attained good reputation among their clients because of the track record, experienced members and a proven strength on delivery norms across its all spectrum of services. They have entered into projects for diverse range of clients including Defence sector, Railways, Ports, Adani Port, Vedanta , IVRCL , Rashtriya Ispat Nigam and ESSAR.

Major events and milestones:

  • 2005-06: Incorporation of the Company in the name and style of ‘RKEC Projects Private Limited’.
  • 2006-07: The Company took over the running business of the proprietorship firm of one of the Promoter Radhakrishna Garapati being carried on under the name and style of ‘RK Engineers & Contractors’.
  • 2012-13: The Company has undertaken an extra business activity of ‘Facility Management’ which was subsequently closed down in the next financial year.
  • 2015-16: Conversion of Company from Private Limited to Public Limited.
  • 2015-16: Completed Construction of Second Liquid Chemical/POL Berth Off Pir Pau, Mumbai worth Rs 29.20 Crores.
  • 2016-17: Received a Major Project of Construction of Coastal Berth Project at Jawaharlal Nehru Port Trust worth Rs 143.32 Crores.
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