RM Drip and Sprinklers System Ltd.

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rmdrip.comBSE: 544456NSE: RMDRIP

Market Cap₹ 892 Cr.

Current Price

High / Low₹ 72 / 15

Stock P/E25.3

Book Value₹ 3

Price to Book14.21

Dividend Yield0.00 %

ROCE44.6 %

ROE41.5 %

Face Value₹ 1

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ABOUT

AI Sector View

AI GENERATED

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%

View full sector analysis →

PROS

Company has delivered good profit growth of 53.5% CAGR over last 5 years
Promoters have been increasing their shareholding - up 7.2pp over 2 years
Company has a healthy return on capital (ROCE) of 24.1%
Company has a good return on equity (ROE) track record: 3 Years ROE 21.4%
Latest quarter profit grew 907.5% YoY, showing strong momentum
Company has delivered good sales growth of 41.2% CAGR over last 5 years

CONS

Operating cash flow has been negative in recent years
Receivables are growing faster than sales - a possible quality concern
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -1.30x)
Total debt has risen sharply - up 340.5% year on year
Stock is trading at 14.2x its book value

* 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	432.80	61.95	150703.70	0.32	376.71	182.70	7697.72	40.29	9.24	6.69
2.	INDOMIM	922.60	85.51	45620.81	0.64	2401.22	—	12187.42	—	24.48	33.36
3.	THERMAX	3729.70	74.90	44441.73	0.54	21.79	-85.61	2302.73	7.09	15.85	2.98
4.	KIRLOSENG	2267.40	60.41	32995.17	0.31	1110.60	699.45	19995.30	1034.94	14.46	15.02
5.	JYOTICNC	1026.55	72.57	23346.12	0.00	57.14	-19.99	508.47	23.97	23.88	21.40
6.	INOXINDIA	2180.15	77.65	19787.80	0.09	58.07	-4.98	370.79	9.18	33.54	20.46
7.	TRITURBINE	572.05	54.07	18185.38	0.74	51.10	-20.65	442.70	19.23	35.95	11.59
8.	AZAD	2765.75	128.52	17861.70	0.00	35.16	19.46	172.60	25.90	12.28	37.29
9.	LLOYDSENGG	84.88	58.86	13165.22	0.29	68.23	-77.28	527.15	142.92	17.99	15.04
10.	TEGA	1552.65	552.07	11664.70	0.13	-1082.52	-3163.59	17234.42	4739.88	8.37	3.27
11.	KENNAMET	4534.30	85.10	9965.59	0.00	31.50	11.31	267.30	12.55	18.99	17.51
12.	RMDRIP	20.84	25.42	892.43	0.00	53.13	900.94	403.89	1225.10	44.64	22.15

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	17	17	48	48	30	31	75	61	403
	14	14	33	33	22	23	52	48	336
Operating Profit	3	3	15	15	9	8	23	13	68
OPM %	16.87%	17.33%	30.96%	31.16%	28.81%	26.65%	30.25%	20.66%	16.83%
	0	0	0	0	0	2	0	0	3
Interest	0	0	1	1	1	1	1	0	12
Depreciation	1	1	1	1	1	1	1	1	9
Profit before Tax	2	2	14	14	7	8	21	12	70
Tax %	27.04%	27.57%	24.93%	25.29%	27.36%	29.73%	32.87%	12.30%	24.05%
Net Profit	2	2	10	10	5	6	14	10	54
	0.86	0.70	0.41	0.41	2.13	2.26	0.56	0.41	0.21

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	12	28	43	22	23	18	18	11	50	130	570
	10	25	38	26	19	16	17	12	45	95	459
Operating Profit	1	3	5	-3	4	2	1	-1	5	36	111
OPM %	11.56%	11.83%	11.12%	-15.53%	16.65%	10.87%	4.51%	-8.54%	10.89%	27.39%	19.53%
	0	0	0	1	0	0	1	3	3	1	5
Interest	0	1	1	1	1	1	1	1	0	2	14
Depreciation	0	1	2	1	1	1	1	1	1	2	11
Profit before Tax	0	2	2	-5	2	0	-1	0	7	32	111
Tax %	32.58%	29.70%	31.01%	-0.31%	-39.17%	62.68%	-77.66%	62.66%	24.18%	25.55%	24.89%
Net Profit	0	1	2	-5	3	0	-1	0	5	24	83
EPS	0.00	0.00	0.00	0.00	0.00	0.16	-1.41	0.04	3.59	9.58	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	5.22%	—

COMPOUNDED SALES GROWTH

10 Years:: 37%
5 Years:: 41%
3 Years:: 94%

COMPOUNDED PROFIT GROWTH

10 Years:: 58%
5 Years:: 54%
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: 82%
3 Years:: 100%
1 Year:: -52%

RETURN ON EQUITY

10 Years:: 12%
5 Years:: 12%
3 Years:: 21%
Last Year:: 41%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	1	2	7	7	7	7	7	7	15	25
	1	1	9	4	7	7	6	6	20	55
	4	13	10	10	9	8	7	8	8	26
Trade Payables	2	3	3	4	3	3	5	6	12	13
	1	4	2	3	1	4	5	2	13	36
Total Liabilities	10	24	32	27	27	28	31	29	68	155
	3	8	8	7	6	7	6	5	10	17
Capital Work in Progress	0	0	0	0	0	0	0	0	0	1
	0	0	0	0	0	0	0	0	0	2
	2	5	5	4	3	3	4	3	11	18
	0	0	0	0	0	0	0	0	38	107
Cash & Bank	1	2	1	1	0	1	0	0	1	0
	5	8	17	15	17	17	20	21	8	9
Total Assets	10	24	32	27	27	28	31	29	68	155

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	1	3	-5	2	2	3	1	-2	-14	-22
Cash from Investing	-2	-6	-1	0	0	-1	1	3	-6	-11
Cash from Financing	2	5	8	-2	-2	-1	-3	-1	20	33
	1	1	-0	-1	-0	1	-1	-0	0	-0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	2.31	5.73	2.34	-8.13	4.19	0.16	-1.41	0.04	3.59	9.58
Book Value (₹)	17.99	16.13	24.18	16.05	20.24	20.40	18.99	19.04	23.55	32.00
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.50
Cash EPS (₹)	0.13	0.41	0.27	-0.35	0.36	0.11	0.01	0.08	0.25	0.62
PROFITABILITY
Operating Margin %	11.75%	13.19%	11.75%	-11.77%	18.74%	13.24%	8.38%	17.62%	10.89%	27.39%
Net Margin %	2.75%	4.82%	3.68%	-24.41%	12.07%	0.60%	-5.27%	0.26%	10.76%	18.36%
ROE %	17.02%	42.93%	15.66%	-40.43%	23.11%	0.80%	-7.16%	0.23%	22.43%	41.45%
ROCE %	18.51%	24.71%	16.39%	-17.98%	14.43%	5.67%	1.81%	5.10%	22.43%	44.65%
	4.17%	8.01%	5.58%	-18.32%	10.49%	0.40%	-3.21%	0.10%	11.18%	21.45%
EFFICIENCY
Debtor Days	62	62	96	233	212	292	335	549	192	203
Inventory Days	32	44	46	74	53	59	68	116	52	40
Payable Days	80	69	51	77	112	127	141	256	108	60
	14	37	91	229	153	224	262	408	136	184
FINANCIAL HEALTH
Debt to Equity (x)	1.65x	3.19x	0.61x	0.81x	0.61x	0.64x	0.61x	0.59x	0.16x	0.32x
Interest Coverage (x)	1.96x	3.23x	2.92x	-3.07x	3.10x	1.30x	0.42x	1.08x	21.38x	19.07x
	1.10x	1.32x	2.25x	1.72x	1.96x	1.87x	1.60x	2.03x	2.19x	2.34x
GROWTH
Revenue Growth %	117.90%	140.89%	50.46%	-47.72%	4.24%	-21.61%	-1.64%	-38.86%	358.91%	159.29%
Operating Profit Growth %	60.68%	170.32%	34.03%	-152.38%	265.97%	-44.61%	-37.72%	28.48%	346.72%	321.80%
Net Profit Growth %	34.02%	322.53%	14.87%	-447.09%	151.55%	-96.12%	-967.46%	103.06%	0.00%	342.24%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	8205.79%	166.95%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	38.74x	47.48x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	5.90x	14.21x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.11%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	24.92x	31.94x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jul 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	13.86	13.86	13.88	17.78	21.06	21.06	21.06	21.06	21.06
	0.00	0.00	2.00	2.12	2.97	3.01	2.50	3.85	4.24
	0.00	0.00	0.00	0.00	0.35	0.35	0.35	0.10	0.10
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	86.14	86.14	84.12	80.10	75.62	75.57	76.09	75.00	74.60

Documents

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

2026-09-02

Outcome of Board Meeting

2026-09-02 - R M Drip and Sprinklers Systems Limited has informed the Exchange regarding Outcome of Board Meeting held on September 02, 2026.

2026-08-17

Copy of Newspaper Publication

2026-08-17 - R M Drip and Sprinklers Systems Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-14

Outcome of Board Meeting

2026-08-14 - R M Drip and Sprinklers Systems Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-08-07

Resignation of Director/KMP/SMP

2026-08-07 - R M Drip and Sprinklers Systems Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-08-07

Cessation

2026-08-07 - R M Drip and Sprinklers Systems Limited has informed the Exchange regarding Cessation of Ms Gracy Vijay Kale as Company Secretary & Compliance Officer of the company w.e.f. August 14, 2026.

2026-07-20

Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-20 - R M Drip and Sprinklers Systems Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-06-27

Trading Window

2026-06-27 - R M Drip and Sprinklers Systems Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015

2026-06-12

Disclosure under SEBI Takeover Regulations

2026-06-12 - Mr. Nivrutti Pandurang Kedar has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

2026-06-09

Disclosure under SEBI Takeover Regulations

2026-06-09 - Mr. Nivrutti Pandurang Kedar has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

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