Rajnandini Metal Ltd.
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ABOUT
AI Sector View
AI GENERATEDMetals & Mining
The sector backdrop is mixed. Iron ore output was very strong at 29.5% YoY (2026-07), but steel slowed to 2.9% YoY (2026-07), finished steel consumption was 8.0% YoY (2026-06), and headline mining production was still -0.9% (Jul/26). FPI outflows of INR -2349 crore over 3 months to 2026-08-31 also argue against an aggressive overweight.
PROS
- Company has a good return on equity (ROE) track record: 3 Years ROE 21.9%
- Latest quarter profit grew 119.6% YoY, showing strong momentum
- Company has delivered good sales growth of 47.4% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.50x)
- Company converts assets efficiently - asset turnover of 6.5x
CONS
- Company is loss-making at the operating / net level
- Promoter holding has decreased over last 2 years: -20.1pp
- Interest coverage is weak at 0.8x - earnings barely cover interest
- Operating cash flow has been negative in recent years
- Contingent liabilities are large at 545.8% of net worth
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| HINDZINC | 593.80 | 14.70 | 250899.44 | 1.68 | 5469.00 | 144.81 | 13747.00 | 81.10 | 69.83 | 58.56 |
| HINDALCO | 1019.00 | 13.96 | 228992.38 | 0.49 | 7013.00 | 75.15 | 84825.00 | 32.06 | 10.45 | 16.43 |
| VEDL | 269.15 | 5.35 | 105248.09 | 12.63 | 7918.00 | 77.65 | 24205.00 | -35.34 | 18.72 | 35.12 |
| HINDCOPPER | 527.45 | 44.87 | 51005.68 | 0.54 | 352.37 | 162.47 | 936.50 | 81.36 | 39.44 | 54.17 |
| VOGL | 36.52 | 0.00 | 14280.74 | 0.00 | 9450.00 | — | 25070.00 | — | 0.00 | 32.47 |
| GRAVITA | 1696.60 | 31.95 | 12522.34 | 0.37 | 106.37 | 14.30 | 1475.06 | 41.84 | 17.18 | 7.44 |
| JAINREC | 291.60 | 27.87 | 10062.70 | 0.00 | 69.41 | 22.79 | 2724.46 | 75.86 | 25.74 | 3.97 |
| CMRGREEN | 220.20 | 22.71 | 4823.60 | 0.00 | 68.18 | — | 3122.73 | 91.98 | 13.41 | 4.33 |
| POCL | 456.85 | 24.44 | 3484.77 | 0.44 | 358.80 | 42.58 | 9348.90 | 55.08 | 23.32 | 5.97 |
| ONIXSOLAR | 462.00 | 28.23 | 1703.30 | 0.00 | 208.97 | — | 945.10 | — | 32.85 | 29.74 |
| ARDEE | 52.75 | 19.63 | 1662.69 | 0.00 | 199.03 | — | 3388.11 | — | 49.04 | 9.90 |
| RAJMET | 3.26 | 43.75 | 90.13 | 0.00 | 0.39 | 119.60 | 51.95 | -29.68 | 8.11 | 2.00 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 266 | 333 | 298 | 316 | 315 | 278 | 233 | 209 | 74 | 71 | 62 | 56 | 52 | |
| 259 | 325 | 292 | 315 | 314 | 277 | 230 | 210 | 75 | 70 | 60 | 54 | 52 | |
| Operating Profit | 7 | 8 | 5 | 1 | 1 | 1 | 2 | -1 | -1 | 1 | 1 | 2 | -0 |
| OPM % | 2.72% | 2.30% | 1.84% | 0.35% | 0.32% | 0.29% | 1.07% | -0.47% | -1.89% | 0.98% | 2.26% | 4.16% | -0.27% |
| 1 | 1 | 3 | 3 | 2 | 1 | 1 | 4 | 1 | 0 | 0 | 0 | 1 | |
| Interest | 2 | 2 | 3 | 4 | 4 | 4 | 3 | 2 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before Tax | 6 | 6 | 5 | 0 | -2 | -2 | 0 | 0 | -2 | 0 | 1 | 2 | 1 |
| Tax % | 19.19% | -9.43% | 26.62% | 42.00% | 24.85% | 25.15% | 35.71% | 9.52% | 19.11% | 76.92% | 33.77% | 31.93% | 25.00% |
| Net Profit | 5 | 6 | 4 | 0 | -1 | -1 | 0 | 0 | -2 | 0 | 1 | 1 | 0 |
| 0.17 | 0.24 | 0.14 | 0.01 | -0.04 | -0.04 | 0.00 | 0.01 | -0.06 | 0.00 | 0.02 | 0.04 | 0.01 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 136 | 127 | 141 | 137 | 148 | 631 | 1,028 | 1,029 | 1,212 | 1,034 | 241 | |
| 134 | 124 | 138 | 133 | 144 | 620 | 1,010 | 1,009 | 1,191 | 1,030 | 237 | |
| Operating Profit | 3 | 3 | 3 | 3 | 4 | 11 | 18 | 19 | 21 | 3 | 4 |
| OPM % | 1.98% | 2.17% | 2.19% | 2.48% | 2.66% | 1.69% | 1.75% | 1.89% | 1.77% | 0.32% | 1.79% |
| 0 | 0 | 0 | 0 | 0 | 1 | 1 | 10 | 8 | 8 | 1 | |
| Interest | 2 | 2 | 2 | 2 | 2 | 4 | 4 | 7 | 11 | 13 | 3 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before Tax | 1 | 1 | 1 | 2 | 2 | 7 | 14 | 21 | 17 | -3 | 3 |
| Tax % | 52.09% | 31.06% | 33.16% | 32.14% | 28.37% | 28.12% | 29.19% | 35.23% | 12.31% | 20.22% | 33.12% |
| Net Profit | 0 | 1 | 1 | 1 | 1 | 5 | 10 | 14 | 15 | -2 | 2 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 4.12 | 5.43 | 0.50 | 0.55 | -0.08 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 20.21% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 25%
- 5 Years:
- 47%
- 3 Years:
- 0%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- -19%
- 3 Years:
- -32%
- 1 Year:
- -29%
RETURN ON EQUITY
- 10 Years:
- 18%
- 5 Years:
- 27%
- 3 Years:
- 22%
- Last Year:
- -4%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4 | 4 | 4 | 6 | 6 | 12 | 18 | 28 | 28 | 28 |
| 2 | 3 | 4 | 7 | 8 | 7 | 11 | 14 | 29 | 29 | |
| 22 | 22 | 22 | 25 | 40 | 43 | 51 | 72 | 100 | 44 | |
| Trade Payables | 6 | 13 | 8 | 1 | 8 | 26 | 25 | 23 | 5 | 43 |
| 0 | 0 | 0 | 0 | 0 | 1 | 2 | 9 | 8 | 4 | |
| Total Liabilities | 34 | 43 | 38 | 40 | 63 | 90 | 108 | 146 | 170 | 148 |
| 0 | 1 | 1 | 7 | 17 | 25 | 25 | 35 | 34 | 33 | |
| Capital Work in Progress | 0 | 0 | 0 | 1 | 5 | 0 | 0 | 0 | 1 | 2 |
| 8 | 6 | 5 | 8 | 17 | 23 | 44 | 62 | 97 | 93 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 25 | 11 | |
| Cash & Bank | 0 | 0 | 1 | 1 | 1 | 0 | 2 | 1 | 1 | 1 |
| 26 | 36 | 31 | 24 | 24 | 42 | 36 | 49 | 12 | 9 | |
| Total Assets | 34 | 43 | 38 | 40 | 63 | 90 | 108 | 146 | 170 | 148 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -2 | 2 | 2 | 2 | 2 | 7 | -2 | 4 | -20 | 62 | |
| Cash from Investing | -0 | -0 | 0 | 0 | -14 | -4 | -0 | -9 | 2 | 5 |
| Cash from Financing | 2 | -2 | -2 | 1 | 12 | -1 | 5 | 11 | 17 | -67 |
| -0 | -0 | 0 | 3 | -0 | -0 | 0 | 0 | -0 | -0 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-07 - Rajnandini Metal Limited has informed the Exchange regarding Letter to those Shareholders whose e-mail ID is not registered with the Company, containing weblink and the exact path, to access the Annual Report for FY 2025-26.
2026-09-07 - Rajnandini Metal Limited has informed the Exchange about Copy of Newspaper Publication
2026-09-05 - Rajnandini Metal Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 28, 2026
2026-09-01 - Rajnandini Metal Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-14 - Rajnandini Metal Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-13 - Appointment of Internal and Cost Auditor for FY 2026-27
2026-08-13 - Rajnandini Metal Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-17 - Rajnandini Metal Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
2026-07-09 - Rajnandini Metal Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018
News
Recent coverage and analyst commentary for RAJMET
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