Royal Arc Electrodes Ltd.

•

royalarc.in/BSE: -NSE: ROYALARC

Market Cap₹ 176 Cr.

Current Price

High / Low₹ 197 / 126

Stock P/E17.6

Book Value₹ 73

Price to Book2.31

Dividend Yield0.63 %

ROCE18.0 %

ROE13.1 %

Face Value₹ 10

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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 44.9% CAGR over last 5 years
Company is almost debt free
Company has a healthy return on capital (ROCE) of 27.8%
Company has a good return on equity (ROE) track record: 3 Years ROE 20.8%
Company has delivered good sales growth of 21.8% CAGR over last 5 years

CONS

Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.58x)
Equity base is being diluted - shares outstanding up 509.9%
Free cash flow has been persistently negative
Growth is decelerating - 3Y profit CAGR (1.6%) trails the 5Y trend (44.9%)
Though reporting repeated profits, the company pays out little dividend (11.1%)

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

Peer comparison

Capital GoodsCapital GoodsElectrodes & Welding Equipment

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

S.No.	Name
1.	GRAPHITE	724.45	66.45	14153.98	0.97	171.00	28.57	842.00	26.62	4.39	17.10
2.	HEG	705.85	37.96	13621.32	0.48	122.34	16.70	680.79	10.35	8.34	26.60
3.	ESABINDIA	6035.90	173.22	9291.07	1.24	56.14	37.13	421.12	19.63	69.97	18.80
4.	ADOR	1733.55	26.57	3016.86	1.33	27.60	798.73	309.46	22.88	22.31	11.54
5.	DIFFNKG	476.95	32.61	1785.05	0.31	16.68	35.97	110.11	36.49	16.27	16.90
6.	DENORA	819.00	35.65	434.78	0.49	6.39	96.62	35.27	-15.96	9.67	16.14
7.	PANCARBON	425.30	10.63	204.14	2.82	42.57	575.93	111.01	599.06	16.80	23.34
8.	ROYALARC	159.00	17.57	176.49	0.63	—	—	—	—	17.99	—

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

No standalone quarterly results found

We don't have this information yet. Please check back later.

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	64	68	76	65	43	63	97	100	102	116
	59	63	71	61	41	59	83	83	87	101
Operating Profit	5	5	5	5	5	6	16	18	16	17
OPM %	8	8	7	7	11	9	16	18	15	15
Other Income	0	0	0	1	2	2	1	1	1	2
Interest	2	2	2	1	1	1	1	0	0	0
Depreciation	2	2	2	2	2	2	2	2	3	4
	2	2	2	2	2	3	13	16	12	14
Tax %	34	18	29	24	27	24	27	26	25	26
Net Profit	1	1	1	1	2	2	10	12	9	10
EPS	6	8	7	7	9	2	10	13	8	9
Dividend Payout %	0	0	0	0	0	0	0	0	0	11
Minority Interest	0	0	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0
Adjusted EPS	1	2	1	1	2	2	10	13	8	9

COMPOUNDED SALES GROWTH

10 Years:: 6%
5 Years:: 22%
3 Years:: 6%

COMPOUNDED PROFIT GROWTH

10 Years:: 24%
5 Years:: 45%
3 Years:: 2%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: 11%

RETURN ON EQUITY

10 Years:: 16%
5 Years:: 24%
3 Years:: 21%
Last Year:: 13%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
LIABILITIES	-	-	-	-	-	-	-	-	-	-
Equity Capital	2	2	2	2	2	2	2	9	11	11
	12	13	14	15	17	19	29	33	61	70
	8	13	10	8	4	5	0	0	1	0
Trade Payables	10	10	13	7	8	10	8	5	5	2
	16	15	13	7	9	6	6	4	3	8
Total Liabilities	48	53	52	39	40	42	44	52	81	91
ASSETS	-	-	-	-	-	-	-	-	-	-
	18	18	16	15	16	15	14	16	20	25
Capital Work in Progress	1	0	0	0	0	0	0	1	2	5
	0	0	0	0	0	0	1	2	1	2
	12	14	15	11	9	11	6	9	14	13
	0	0	0	0	0	0	0	21	21	26
Cash & Bank	1	4	2	1	0	0	3	1	19	14
	17	18	18	13	15	17	19	2	3	6
Total Assets	48	53	52	39	40	42	44	52	81	91
Total Debt	22	25	20	12	8	8	1	0	1	0
Net Working Capital	8	8	9	8	8	9	17	24	49	50
Contingent Liabilities	3	4	2	3	2	1	1	1	0	0
Book Value per Share	73.70	81.57	88.48	95.02	103.66	114.16	166.73	45.49	64.66	73.21
Face Value	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	6	3	5	6	7	2	13	6	5	8
Cash from Investing	-2	-1	-0	1	-3	-1	-2	-6	-7	-11
Cash from Financing	-5	1	-6	-8	-5	-2	-7	-2	20	-1
	-0	3	-1	-2	-0	-0	3	-2	18	-5
Free Cash Flow	4	2	5	6	7	2	13	1	-3	-4
OCF / Net Profit	5.78	2.08	4.15	5.06	4.29	1.13	1.32	0.46	0.54	0.75
Cumulative 5-Year FCF	0	0	0	0	24	21	32	27	19	8

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE
EPS (₹)	5.80	7.87	6.91	6.55	8.64	11.66	52.57	13.04	8.11	9.05
Book Value (₹)	73.70	81.57	88.48	95.02	103.66	114.16	166.73	45.49	64.66	73.21
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.00
Cash EPS (₹)	2.94	3.49	3.25	3.11	3.49	4.19	12.27	14.99	10.77	12.22
PROFITABILITY
Operating Margin %	7.39%	7.98%	6.93%	7.35%	11.43%	8.83%	15.99%	17.31%	14.83%	13.30%
Net Margin %	1.50%	2.08%	1.66%	1.85%	3.63%	3.37%	9.87%	12.12%	8.85%	8.66%
ROE %	8.19%	10.13%	8.13%	7.14%	8.70%	20.42%	37.43%	33.39%	15.79%	13.13%
ROCE %	9.86%	9.78%	9.07%	9.23%	11.58%	26.46%	45.27%	44.19%	21.29%	17.99%
	2.18%	2.82%	2.39%	2.61%	3.98%	9.99%	22.17%	25.24%	13.53%	11.68%
EFFICIENCY
Debtor Days	60	69	67	70	91	76	56	68	75	73
Inventory Days	66	70	69	73	83	63	32	28	42	43
Payable Days	0	0	0	0	49	40	49	36	27	14
	126	139	136	143	125	99	38	59	90	103
FINANCIAL HEALTH
Debt to Equity (x)	1.61x	1.71x	1.26x	0.71x	0.44x	0.38x	0.05x	0.00x	0.01x	0.00x
Interest Coverage (x)	1.84x	1.90x	2.03x	2.05x	2.94x	3.88x	22.46x	165.92x	56.99x	58.17x
	1.37x	1.32x	1.34x	1.48x	1.54x	1.49x	2.51x	3.78x	7.39x	6.80x
GROWTH
Revenue Growth %	-0.04%	5.88%	12.15%	-14.84%	-32.87%	0.00%	54.09%	3.27%	1.66%	14.04%
Operating Profit Growth %	-15.56%	5.69%	-4.31%	-9.61%	4.34%	0.00%	178.98%	17.50%	-13.82%	10.69%
Net Profit Growth %	-10.47%	35.73%	-12.19%	-5.23%	31.93%	0.00%	351.05%	26.76%	-25.75%	11.55%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-75.19%	-37.79%	11.55%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	18.62x	18.65x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	2.34x	2.31x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.59%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.47x	9.50x	9.96x

Shareholding Pattern

Numbers in percentages

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025	Mar 2026
	100.00	100.00	100.00	100.00	100.00	72.96	72.96	72.96
	0.00	0.00	0.00	0.00	0.00	7.14	5.24	5.57
	0.00	0.00	0.00	0.00	0.00	0.19	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.00	0.00	0.00	0.00	0.00	19.71	21.79	21.47

Documents

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

No announcements filed.

News

Recent coverage and analyst commentary for ROYALARC

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Royal Arc Electrodes Ltd.

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Name

GRAPHITE

724.45

66.45

14153.98

0.97

171.00

28.57

842.00

26.62

4.39

17.10

HEG

705.85

37.96

13621.32

0.48

122.34

16.70

680.79

10.35

8.34

26.60

ESABINDIA

6035.90

173.22

9291.07

1.24

56.14

37.13

421.12

19.63

69.97

18.80

ADOR

1733.55

26.57

3016.86

1.33

27.60

798.73

309.46

22.88

22.31

11.54

DIFFNKG

476.95

32.61

1785.05

0.31

16.68

35.97

110.11

36.49

16.27

16.90

DENORA

819.00

35.65

434.78

0.49

6.39

96.62

35.27

-15.96

9.67

16.14

PANCARBON

425.30

10.63

204.14

2.82

42.57

575.93

111.01

599.06

16.80

23.34

ROYALARC

159.00

17.57

176.49

0.63

—

17.99

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

100

102

116

101

Operating Profit

OPM %

Other Income

Interest

Depreciation

Tax %

Net Profit

EPS

Dividend Payout %

Minority Interest

Share of Associates

Adjusted EPS

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

LIABILITIES

Equity Capital

Trade Payables

Total Liabilities

ASSETS

Capital Work in Progress

Cash & Bank

Total Assets

Total Debt

Net Working Capital

Contingent Liabilities

Book Value per Share

73.70

81.57

88.48

95.02

103.66

114.16

166.73

45.49

64.66

73.21

Face Value

10.00

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Cash from Investing

-2

-1

-0

-3

-1

-2

-6

-7

-11

Cash from Financing

-5

-6

-8

-5

-2

-7

-2

-1

-0

-1

-2

-0

-2

-5

Free Cash Flow

-3

-4

OCF / Net Profit

5.78

2.08

4.15

5.06

4.29

1.13

1.32

0.46

0.54

0.75

Cumulative 5-Year FCF

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

PER SHARE

EPS (₹)

5.80

7.87

6.91

6.55

8.64

11.66

52.57

13.04

8.11

9.05

Book Value (₹)

73.70

81.57

88.48

95.02

103.66

114.16

166.73

45.49

64.66

73.21

Dividend per Share (₹)

0.00

1.00

Cash EPS (₹)

2.94

3.49

3.25

3.11

3.49

4.19

12.27

14.99

10.77

12.22

PROFITABILITY

Operating Margin %

7.39%

7.98%

6.93%

7.35%

11.43%

8.83%

15.99%

17.31%

14.83%

13.30%

Net Margin %

1.50%

2.08%

1.66%

1.85%

3.63%

3.37%

9.87%

12.12%

8.85%

8.66%

ROE %

8.19%

10.13%

8.13%

7.14%

8.70%

20.42%

37.43%

33.39%

15.79%

13.13%

ROCE %

9.86%

9.78%

9.07%

9.23%

11.58%

26.46%

45.27%

44.19%

21.29%

17.99%

2.18%

2.82%

2.39%

2.61%

3.98%

9.99%

22.17%

25.24%

13.53%

11.68%

EFFICIENCY

Debtor Days

Inventory Days

Payable Days

126

139

136

143

125

103

FINANCIAL HEALTH

Debt to Equity (x)

1.61x

1.71x

1.26x

0.71x

0.44x

0.38x

0.05x

0.00x

0.01x

0.00x

Interest Coverage (x)

1.84x

1.90x

2.03x

2.05x

2.94x

3.88x

22.46x

165.92x

56.99x

58.17x

1.37x

1.32x

1.34x

1.48x

1.54x

1.49x

2.51x

3.78x

7.39x

6.80x

GROWTH

Revenue Growth %

-0.04%

5.88%

12.15%

-14.84%

-32.87%

0.00%

54.09%

3.27%

1.66%

14.04%

Operating Profit Growth %

-15.56%

5.69%

-4.31%

-9.61%

4.34%

0.00%

178.98%

17.50%

-13.82%

10.69%

Net Profit Growth %

-10.47%

35.73%

-12.19%

-5.23%

31.93%

0.00%

351.05%

26.76%

-25.75%

11.55%

0.00%

-75.19%

-37.79%

11.55%

VALUATION

P/E (x)

0.00x

18.62x

18.65x

P/B (x)

0.00x

2.34x

2.31x

Dividend Yield %

0.00%

0.59%

0.00x

0.47x

9.50x

9.96x

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Sep 2025

Mar 2026

100.00

72.96

0.00

7.14

5.24

5.57

0.00

0.19

0.00

Government

0.00

19.71

21.79

21.47

Royal Arc Electrodes 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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Royal Arc Electrodes Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI