Ratnaveer Precision Engineering 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 delivered good profit growth of 45.4% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 20.6%
- Company has consistently been profitable over the last 5 years
- Company has delivered good sales growth of 24.6% CAGR over last 5 years
- Operating margins have improved to 9.7% from 6.4%
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.05x)
CONS
- Promoter holding has decreased over last 2 years: -10.0pp
- Equity base is being diluted - shares outstanding up 1204.4%
- Free cash flow has been persistently negative
- Though reporting repeated profits, the company pays out little dividend (0.0%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| JSWSTEEL | 1309.00 | 12.92 | 320109.92 | 0.54 | 4696.00 | 112.58 | 47364.00 | 11.55 | 20.67 | 19.60 |
| TATASTEEL | 183.65 | 20.78 | 229258.67 | 2.18 | 2385.24 | 18.82 | 60794.29 | 15.26 | 12.70 | 15.40 |
| SAIL | 196.00 | 18.95 | 80958.30 | 1.20 | 1644.05 | 120.80 | 26245.67 | 1.25 | 7.08 | 15.92 |
| WELCORP | 2646.15 | 30.23 | 69802.96 | 0.19 | 1047.88 | 200.11 | 4081.12 | 14.91 | 23.94 | 32.17 |
| JSL | 737.80 | 18.72 | 60825.68 | 0.54 | 768.66 | 7.56 | 11278.54 | 10.50 | 19.19 | 12.09 |
| APLAPOLLO | 2151.00 | 48.59 | 59724.32 | 0.40 | 263.11 | 10.94 | 5606.71 | 12.07 | 31.83 | 7.34 |
| SHYAMMETL | 1081.75 | 26.88 | 30195.09 | 0.42 | 350.73 | 20.66 | 5455.09 | 23.45 | 13.88 | 14.03 |
| JINDALSAW | 310.70 | 30.41 | 19869.52 | 0.64 | 90.79 | -78.15 | 4452.31 | 9.00 | 10.38 | 8.79 |
| RATNAMANI | 2666.75 | 43.18 | 18691.78 | 0.38 | 107.03 | -15.82 | 971.63 | -15.63 | 18.01 | 16.69 |
| SARDAEN | 506.95 | 15.81 | 17863.97 | 0.39 | 478.13 | 9.50 | 1608.04 | -1.07 | 17.76 | 41.59 |
| GPIL | 239.75 | 20.01 | 16140.90 | 0.42 | 222.37 | 2.75 | 1750.47 | 32.29 | 20.20 | 19.36 |
| RATNAVEER | 287.10 | 37.47 | 2409.53 | 0.00 | 18.24 | — | 314.63 | 54.91 | 14.30 | 10.23 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,177 | 1,425 | 1,932 | 1,420 | 2,042 | 2,300 | 2,546 | 2,031 | 2,646 | 2,859 | 2,693 | 2,490 | 3,146 | |
| 1,075 | 1,339 | 1,808 | 1,411 | 1,874 | 2,131 | 2,419 | 1,929 | 2,470 | 2,678 | 2,521 | 2,355 | 2,966 | |
| Operating Profit | 102 | 86 | 124 | 9 | 168 | 169 | 127 | 102 | 177 | 181 | 172 | 134 | 181 |
| OPM % | 8.63% | 6.00% | 6.43% | 0.66% | 8.24% | 7.35% | 4.99% | 5.01% | 6.68% | 6.32% | 6.38% | 5.39% | 5.75% |
| 5 | 9 | 10 | 46 | 6 | 13 | 5 | 16 | 3 | 20 | 0 | 73 | 38 | |
| Interest | 34 | 32 | 34 | 20 | 48 | 41 | 38 | 0 | 34 | 39 | 52 | 80 | 67 |
| Depreciation | 10 | 14 | 18 | 16 | 30 | 35 | 41 | 65 | 59 | 64 | 62 | 69 | 74 |
| Profit before Tax | 107 | 94 | 134 | 56 | 174 | 182 | 132 | 118 | 180 | 201 | 172 | 207 | 219 |
| Tax % | 23.09% | 15.35% | 31.01% | -0.48% | 28.31% | 32.50% | 14.36% | 9.23% | 16.74% | 23.21% | 1.70% | 17.89% | 16.63% |
| Net Profit | 82 | 80 | 93 | 56 | 125 | 123 | 113 | 107 | 149 | 154 | 169 | 170 | 182 |
| 2.37 | 1.95 | 2.27 | 1.37 | 3.06 | 2.44 | 2.24 | 2.13 | 2.97 | 3.07 | 3.11 | 2.94 | 2.61 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| 297 | 360 | 427 | 480 | 595 | 892 | 11,187 | |
| 272 | 340 | 399 | 434 | 545 | 805 | 10,520 | |
| Operating Profit | 25 | 20 | 28 | 46 | 50 | 86 | 667 |
| OPM % | 8.27% | 5.54% | 6.45% | 9.51% | 8.40% | 9.69% | 5.96% |
| 2 | 4 | 2 | 1 | 7 | 4 | 132 | |
| Interest | 14 | 12 | 12 | 12 | 12 | 13 | 238 |
| Depreciation | 2 | 3 | 4 | 4 | 6 | 17 | 268 |
| Profit before Tax | 10 | 10 | 13 | 31 | 39 | 61 | 799 |
| Tax % | 29.76% | 43.07% | 29.55% | 18.46% | 20.57% | 22.82% | 15.40% |
| Net Profit | 7 | 5 | 9 | 25 | 31 | 47 | 676 |
| EPS | 17.69 | 13.43 | 23.30 | 7.22 | 6.40 | 8.82 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 25%
- 3 Years:
- 28%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- 45%
- 3 Years:
- 70%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- 113%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 17%
- 3 Years:
- 21%
- Last Year:
- 15%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 4 | 4 | 4 | 35 | 48 | 53 |
| 47 | 52 | 62 | 71 | 203 | 310 | |
| 136 | 147 | 189 | 228 | 204 | 188 | |
| Trade Payables | 36 | 36 | 41 | 37 | 44 | 121 |
| 19 | 17 | 13 | 18 | 16 | 75 | |
| Total Liabilities | 242 | 256 | 309 | 389 | 516 | 746 |
| 22 | 32 | 41 | 50 | 74 | 186 | |
| Capital Work in Progress | 4 | 3 | 4 | 9 | 45 | 54 |
| 115 | 136 | 171 | 206 | 245 | 293 | |
| 0 | 0 | 0 | 0 | 45 | 66 | |
| Cash & Bank | 18 | 19 | 20 | 30 | 60 | 66 |
| 84 | 66 | 73 | 94 | 48 | 82 | |
| Total Assets | 242 | 256 | 309 | 389 | 516 | 746 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 10 | 17 | -13 | 5 | 12 | 95 | |
| Cash from Investing | -9 | -11 | -12 | -17 | -63 | -136 |
| Cash from Financing | 5 | -2 | 28 | 27 | 80 | 47 |
| 3 | 1 | 1 | 11 | 29 | 6 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| PER SHARE | ||||||
| EPS (₹) | 17.69 | 13.43 | 23.30 | 7.22 | 6.40 | 8.82 |
| Book Value (₹) | 125.08 | 138.40 | 161.74 | 30.51 | 51.94 | 68.52 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | 2.93 | 2.49 | 4.11 | 8.34 | 7.57 | 12.00 |
| PROFITABILITY | ||||||
| Operating Margin % | 8.27% | 5.54% | 6.45% | 9.51% | 8.40% | 9.69% |
| Net Margin % | 2.42% | 1.52% | 2.22% | 5.22% | 5.22% | 5.25% |
| ROE % | 14.14% | 10.19% | 15.53% | 29.18% | 17.36% | 15.21% |
| ROCE % | 12.68% | 10.88% | 10.83% | 14.51% | 12.87% | 14.30% |
| 2.97% | 2.19% | 3.36% | 7.18% | 6.86% | 7.42% | |
| EFFICIENCY | ||||||
| Debtor Days | 79 | 49 | 31 | 39 | 33 | 23 |
| Inventory Days | 142 | 127 | 131 | 143 | 138 | 110 |
| Payable Days | 55 | 43 | 40 | 37 | 29 | 40 |
| 165 | 134 | 123 | 146 | 142 | 93 | |
| FINANCIAL HEALTH | ||||||
| Debt to Equity (x) | 2.74x | 2.67x | 2.89x | 2.17x | 0.82x | 0.54x |
| Interest Coverage (x) | 1.73x | 1.80x | 2.15x | 3.50x | 4.23x | 5.78x |
| 1.32x | 1.24x | 1.24x | 1.34x | 1.74x | 1.62x | |
| GROWTH | ||||||
| Revenue Growth % | 0.00% | 21.13% | 18.70% | 12.37% | 24.10% | 49.80% |
| Operating Profit Growth % | 0.00% | -8.44% | 19.48% | 61.82% | 21.23% | 58.63% |
| Net Profit Growth % | 0.00% | -24.09% | 73.49% | 164.29% | 23.98% | 50.77% |
| 0.00% | -24.09% | 73.49% | -69.02% | -11.30% | 37.84% | |
| VALUATION | ||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 18.04x | 15.47x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 2.22x | 1.99x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 4.74x | 5.59x | 6.03x | 4.98x | 12.42x | 9.44x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-04 - Ratnaveer Precision Engineering Limited has informed the Exchange about Copy of Newspaper Publication regarding intimation of dispatching of notice of Annual General Meeting
2026-09-03 - Ratnaveer Precision Engineering Limited has informed the Exchange about Cut of date for the Annual General Meeting and Date of Annual General Meeting.
2026-09-03 - Ratnaveer Precision Engineering Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 26, 2026
2026-09-01 - Ratnaveer Precision Engineering Limited has informed the Exchange about Copy of Newspaper Publication regarding intimation of AGM date.
2026-08-29 - Ratnaveer Precision Engineering Limited has informed the Exchange about Copy of Newspaper Publication for completion of dispatch of Letter of Offer and Application form to the shareholders of the Company for Right Issue.
2026-08-26 - Ratnaveer Precision Engineering Limited has informed the Exchange about Letter of Offer for Right Issue.
2026-08-26 - Ratnaveer Precision Engineering Limited has informed the Exchange regarding Outcome of Board Meeting held on August 26, 2026 with redpect to approval for schedule of the Right Issue, Approval of Letter of Offer and issue related materials, Noting of allotment of ISIN for the purpose of Credit of Right Entitlement.
2026-08-20 - Ratnaveer Precision Engineering Limited has informed the Exchange regarding Appointment of Ms Bhadresh K Mehta & Co, Chartered Accountants as Internal Auditor of the company w.e.f. August 20, 2026 for financial year 2026-27.
2026-08-20 - Ratnaveer Precision Engineering Limited has informed the Exchange regarding Appointment of Ms Ashish Bhavsar & Associates as Cost Auditors of the company w.e.f. August 20, 2026 for the financial year 2026-27.
News
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