Rajoo Engineers Ltd.

•

rajoo.comBSE: 522257NSE: RAJOOENG

Market Cap₹ 964 Cr.

Current Price

High / Low₹ 104 / 46

Stock P/E20.0

Book Value₹ 20

Price to Book9.87

Dividend Yield0.28 %

ROCE32.9 %

ROE24.4 %

Face Value₹ 1

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ABOUT

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Capital Goods

Buy

Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.

Confidence

72%

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PROS

Company has delivered good profit growth of 87.4% CAGR over last 5 years
Company is almost debt free
Company has a healthy return on capital (ROCE) of 22.8%
Company has consistently been profitable over the last 5 years
Company has delivered good sales growth of 20.7% CAGR over last 5 years
Operating margins have improved to 18.4% from 12.9%

CONS

Promoter holding has decreased over last 2 years: -5.9pp
Stock is trading at 9.9x its book value
Growth is decelerating - 3Y profit CAGR (32.7%) trails the 5Y trend (87.4%)
Though reporting repeated profits, the company pays out little dividend (6.5%)
Rich enterprise valuation - EV/EBITDA of 29.3x

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Capital GoodsCapital GoodsEngineering - Industrial Equipments

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	BHEL	421.50	60.34	146768.97	0.33	376.71	182.70	7697.72	40.29	9.24	6.69
2.	INDOMIM	947.70	87.83	46861.96	0.62	2401.22	—	12187.42	—	24.48	33.36
3.	THERMAX	3623.50	72.77	43176.29	0.55	21.79	-85.61	2302.73	7.09	15.85	2.98
4.	HONAUT	35564.65	57.06	31444.57	0.31	150.70	20.95	1204.40	1.80	17.04	14.32
5.	JYOTICNC	1018.20	71.98	23156.22	0.00	57.14	-19.99	508.47	23.97	23.88	21.40
6.	INOXINDIA	2230.95	79.60	20284.35	0.09	58.07	-4.98	370.79	9.18	33.54	20.46
7.	AZAD	2869.20	133.33	18529.79	0.00	35.16	19.46	172.60	25.90	12.04	37.29
8.	TRITURBINE	569.00	53.79	18088.42	0.75	51.10	-20.65	442.70	19.23	35.95	11.59
9.	LLOYDSENGG	83.06	57.60	12882.93	0.30	68.23	-77.28	527.15	142.92	17.99	15.04
10.	TEGA	1606.65	571.27	12070.39	0.12	-108.25	-406.36	1723.44	383.99	8.37	3.27
11.	KRN	1627.05	109.86	10650.42	0.00	32.90	164.84	252.32	118.87	16.06	19.44
12.	RAJOOENG	53.98	20.02	964.49	0.28	17.35	15.51	123.07	44.67	32.86	17.73

Detailed Comparison with:

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
	31	54	60	53	51	57	56	90	85	92	88	79	123
	28	46	52	44	44	48	45	71	66	74	65	78	104
Operating Profit	3	7	8	9	7	9	11	18	19	18	22	2	19
OPM %	9.32%	13.39%	12.80%	17.03%	13.98%	16.11%	19.33%	20.57%	21.84%	19.84%	25.42%	1.96%	15.37%
	1	1	1	1	1	1	2	2	2	4	2	2	3
Interest	0	0	0	0	0	0	0	0	0	1	1	1	1
Depreciation	1	1	1	1	1	1	1	1	1	1	3	2	2
Profit before Tax	3	7	8	8	7	9	12	19	19	20	21	2	22
Tax %	22.88%	25.28%	25.65%	26.21%	24.26%	22.67%	22.96%	27.10%	24.46%	32.35%	19.18%	45.83%	22.48%
Net Profit	0	0	0	0	5	8	9	15	15	14	18	18	17
	0.40	0.87	0.99	0.43	0.33	0.48	0.56	0.93	0.92	0.81	0.94	0.09	0.87

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
	115	125	161	132	99	170	190	160	197	254	382
	104	111	138	117	92	149	168	146	171	207	321
Operating Profit	11	13	23	14	7	21	23	14	27	47	61
OPM %	9.50%	10.82%	14.31%	10.86%	7.33%	12.30%	11.83%	8.77%	13.52%	18.37%	15.97%
	0	1	1	1	0	1	2	3	4	5	12
Interest	0	1	1	2	2	1	0	0	1	1	3
Depreciation	3	3	3	4	4	4	4	3	4	4	8
Profit before Tax	8	11	20	9	2	17	21	13	26	47	65
Tax %	34.33%	35.63%	32.83%	15.00%	8.67%	29.41%	26.89%	22.88%	25.41%	24.76%	25.04%
Net Profit	5	7	14	8	2	12	15	10	20	35	49
EPS	0.00	0.00	0.00	0.00	0.25	1.96	2.45	1.87	3.42	2.32	—
Dividend Payout %	26.45%	20.44%	11.24%	7.65%	0.00%	0.00%	10.18%	18.75%	7.32%	6.45%	—

COMPOUNDED SALES GROWTH

10 Years:: 8%
5 Years:: 21%
3 Years:: 10%

COMPOUNDED PROFIT GROWTH

10 Years:: 22%
5 Years:: 90%
3 Years:: 36%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: -44%

RETURN ON EQUITY

10 Years:: 15%
5 Years:: 17%
3 Years:: 17%
Last Year:: 24%

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	6	6	6	6	6	6	6	6	6	16
	33	40	57	63	64	77	93	103	121	147
	7	7	15	19	8	3	0	2	2	1
Trade Payables	19	24	27	20	30	25	22	20	30	30
	23	34	51	27	41	46	39	49	69	131
Total Liabilities	87	111	157	135	150	158	160	180	227	324
	18	29	47	47	44	41	39	37	42	55
Capital Work in Progress	6	1	2	1	2	2	3	3	5	1
	2	0	2	2	1	3	17	17	12	16
	16	28	59	46	66	59	57	57	103	130
	0	0	0	0	0	0	0	0	16	15
Cash & Bank	13	11	15	2	11	20	26	44	33	87
	31	41	32	37	27	33	19	23	17	20
Total Assets	87	111	157	135	150	158	160	180	227	324

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
	23	8	20	-5	24	22	29	25	1	71
Cash from Investing	-6	-5	-31	7	-6	-12	-15	-13	-11	-63
Cash from Financing	-4	-1	11	-1	-14	-6	-3	-2	-3	-2
	11	-2	-4	-4	3	-1	7	5	-14	5

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

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	66.56	66.56	66.40	66.40	66.13	60.70	60.70	60.70	60.70
	0.27	0.18	0.04	0.08	0.03	2.25	1.75	1.66	1.22
	0.00	0.00	0.00	0.00	0.00	1.26	0.99	0.77	0.53
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	33.16	33.25	33.56	33.52	33.84	35.80	36.58	36.88	37.55

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-02

Shareholders meeting

2026-09-02 - Rajoo Engineers Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 29, 2026. Intimation of Notice of 39th Annual General Meeting of the Company scheduled to be held on Tuesday, September 29, 2026 at 12.00 p.m. at the Registered Office of the Company (Revised Notice).

2026-09-02

Record Date

2026-09-02 - Rajoo Engineers Limited has informed the Exchange that Record date for the purpose of Dividend is 22-Sep-2026.

2026-09-02

Shareholders meeting

2026-08-31

Appointment

2026-08-31 - Rajoo Engineers Limited has informed the Exchange regarding Appointment of Mrs Hetal Bhavesh Dobariya as Non- Executive Independent Director of the company w.e.f. September 01, 2026.

2026-08-21

Resignation of Director/KMP/SMP

2026-08-21 - Rajoo Engineers Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-08-21

Resignation

2026-08-21 - Rajoo Engineers Limited has informed the Exchange regarding Resignation of Mr Shital Bharatkumar Badshah (DIN: 10039677), as Non- Executive Independent Director of the company effective from close of the business hours on August 21, 2026.

2026-07-24

Press Release

2026-07-24 - Rajoo Engineers Limited has informed the Exchange regarding a press release dated July 24, 2026, titled "Rajoo Engineers Delivers Robust Q1 FY27 Performance Backed by Strong Execution and Healthy Global Demand".

2026-07-24

Investor Presentation

2026-07-24 - Rajoo Engineers Limited has informed the Exchange about Investor Presentation

2026-07-22

Copy of Newspaper Publication

2026-07-22 - Rajoo Engineers Limited has informed the Exchange about Copy of Newspaper Publication of Unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026.

News

Recent coverage and analyst commentary for RAJOOENG

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Rajoo Engineers Ltd.

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Free 5nance Account

Name

BHEL

421.50

60.34

146768.97

0.33

376.71

182.70

7697.72

40.29

9.24

6.69

INDOMIM

947.70

87.83

46861.96

0.62

2401.22

—

12187.42

—

24.48

33.36

THERMAX

3623.50

72.77

43176.29

0.55

21.79

-85.61

2302.73

7.09

15.85

2.98

HONAUT

35564.65

57.06

31444.57

0.31

150.70

20.95

1204.40

1.80

17.04

14.32

JYOTICNC

1018.20

71.98

23156.22

0.00

57.14

-19.99

508.47

23.97

23.88

21.40

INOXINDIA

2230.95

79.60

20284.35

0.09

58.07

-4.98

370.79

9.18

33.54

20.46

AZAD

2869.20

133.33

18529.79

0.00

35.16

19.46

172.60

25.90

12.04

37.29

TRITURBINE

569.00

53.79

18088.42

0.75

51.10

-20.65

442.70

19.23

35.95

11.59

LLOYDSENGG

83.06

57.60

12882.93

0.30

68.23

-77.28

527.15

142.92

17.99

15.04

TEGA

1606.65

571.27

12070.39

0.12

-108.25

-406.36

1723.44

383.99

8.37

3.27

KRN

1627.05

109.86

10650.42

0.00

32.90

164.84

252.32

118.87

16.06

19.44

RAJOOENG

53.98

20.02

964.49

0.28

17.35

15.51

123.07

44.67

32.86

17.73

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

123

104

Operating Profit

OPM %

9.32%

13.39%

12.80%

17.03%

13.98%

16.11%

19.33%

20.57%

21.84%

19.84%

25.42%

1.96%

15.37%

Interest

Depreciation

Profit before Tax

Tax %

22.88%

25.28%

25.65%

26.21%

24.26%

22.67%

22.96%

27.10%

24.46%

32.35%

19.18%

45.83%

22.48%

Net Profit

0.40

0.87

0.99

0.43

0.33

0.48

0.56

0.93

0.92

0.81

0.94

0.09

0.87

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

115

125

161

132

170

190

160

197

254

382

104

111

138

117

149

168

146

171

207

321

Operating Profit

OPM %

9.50%

10.82%

14.31%

10.86%

7.33%

12.30%

11.83%

8.77%

13.52%

18.37%

15.97%

Interest

Depreciation

Profit before Tax

Tax %

34.33%

35.63%

32.83%

15.00%

8.67%

29.41%

26.89%

22.88%

25.41%

24.76%

25.04%

Net Profit

EPS

0.00

0.25

1.96

2.45

1.87

3.42

2.32

—

Dividend Payout %

26.45%

20.44%

11.24%

7.65%

0.00%

10.18%

18.75%

7.32%

6.45%

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

103

121

147

Trade Payables

131

Total Liabilities

111

157

135

150

158

160

180

227

324

Capital Work in Progress

103

130

Cash & Bank

Total Assets

111

157

135

150

158

160

180

227

324

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-5

Cash from Investing

-6

-5

-31

-6

-12

-15

-13

-11

-63

Cash from Financing

-4

-1

-14

-6

-3

-2

-3

-2

-4

-1

-14

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

66.56

66.40

66.13

60.70

0.27

0.18

0.04

0.08

0.03

2.25

1.75

1.66

1.22

0.00

1.26

0.99

0.77

0.53

Government

0.00

33.16

33.25

33.56

33.52

33.84

35.80

36.58

36.88

37.55

Rajoo Engineers Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Rajoo Engineers Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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