Rajputana Stainless Ltd.

•

rajputanastainless.comBSE: 544731NSE: RSL

Market Cap₹ 1,584 Cr.

Current Price

High / Low₹ 193 / 102

Stock P/E31.8

Book Value₹ 46

Price to Book4.07

Dividend Yield0.26 %

ROCE31.7 %

ROE30.2 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Metals & Mining

Hold

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.

Confidence

61%

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PROS

Company has delivered good profit growth of 55.6% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 32.5%
Company has a healthy return on capital (ROCE) of 29.9%
Latest quarter profit grew 144.2% YoY, showing strong momentum
Company has delivered good sales growth of 16.6% CAGR over last 5 years
Operating margins have improved to 7.9% from 4.1%

CONS

Receivables are growing faster than sales - a possible quality concern
Equity base is being diluted - shares outstanding up 100.0%
Contingent liabilities are large at 75.4% of net worth

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

Peer comparison

Metals & MiningIron & SteelSteel/Sponge Iron/Pig Iron

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

S.No.	Name
1.	JINDALSTEL	1147.50	43.06	117055.11	0.17	843.80	-43.60	15482.13	25.93	8.92	17.18
2.	LLOYDSME	1807.60	21.35	101751.06	0.06	1733.89	170.25	7354.40	209.39	27.59	38.26
3.	JAIBALAJI	68.67	21.39	6264.43	0.00	26.48	-82.71	1353.35	-13.06	9.63	5.31
4.	RSL	189.50	31.79	1583.61	0.26	20.20	144.24	306.54	23.65	31.72	9.37
5.	STEELXIND	12.03	395.28	1534.45	0.00	150.26	—	2697.14	—	11.97	12.70
6.	SALSTEEL	80.19	93.39	1160.88	0.00	30.90	419.21	873.70	584.99	4.89	15.51
7.	VRAJ	124.80	11.46	411.62	0.00	11.51	51.65	193.83	40.14	10.52	11.17
8.	VASWANI	45.16	0.00	148.78	0.00	2.52	—	91.74	—	9.77	5.72

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2024	Mar 2025	Jun 2025	Dec 2025	Mar 2026	Jun 2026
	233	248	231	251	255	307
	214	230	218	227	231	282
Operating Profit	20	18	14	24	24	25
OPM %	8.40%	7.31%	6.03%	9.39%	9.22%	8.14%
	1	1	1	0	2	2
Interest	4	5	5	5	6	2
Depreciation	3	2	2	2	2	2
Profit before Tax	14	12	15	17	17	27
Tax %	30.49%	31.65%	24.84%	26.33%	24.35%	25.84%
Net Profit	10	8	11	12	13	20
	1.39	1.20	1.62	1.79	1.88	2.42

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
	222	191	368	428	432	428	766	948	910	932	1,044
	214	198	349	408	409	406	736	904	850	858	958
Operating Profit	7	-7	19	19	23	22	30	44	59	74	86
OPM %	3.36%	-3.67%	5.21%	4.51%	5.21%	5.12%	3.93%	4.63%	6.53%	7.92%	8.24%
	9	6	7	7	1	2	2	3	6	5	6
Interest	12	13	12	12	12	12	11	11	14	16	17
Depreciation	4	5	4	4	4	4	7	7	8	9	9
Profit before Tax	1	-19	10	10	8	7	14	29	42	55	76
Tax %	-85.17%	31.97%	37.84%	58.72%	42.19%	69.81%	37.59%	15.86%	25.27%	27.06%	25.41%
Net Profit	2	-13	7	4	4	2	9	24	32	40	57
EPS	0.62	-3.71	1.89	1.23	1.02	0.65	1.26	3.49	9.18	5.78	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 14%
5 Years:: 17%
3 Years:: 7%

COMPOUNDED PROFIT GROWTH

10 Years:: 33%
5 Years:: 56%
3 Years:: 66%

STOCK PRICE CAGR

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

RETURN ON EQUITY

10 Years:: 14%
5 Years:: 26%
3 Years:: 32%
Last Year:: 30%

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	34	34	34	34	34	34	34	34	34	69
	23	11	17	21	26	28	23	47	78	83
	100	100	96	68	73	69	92	91	74	94
Trade Payables	15	35	51	85	83	97	107	98	103	132
	44	28	30	24	20	25	25	27	35	43
Total Liabilities	217	208	228	232	237	253	281	297	324	420
	55	61	58	55	54	57	55	53	70	70
Capital Work in Progress	10	0	0	2	3	0	1	15	0	2
	0	2	1	0	1	2	4	1	0	3
	94	102	86	90	97	110	113	88	104	133
	0	0	0	0	0	0	0	0	89	150
Cash & Bank	8	6	5	6	7	0	6	7	9	11
	51	38	78	80	74	84	102	133	50	52
Total Assets	217	208	228	232	237	253	281	297	324	420

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
	31	12	17	30	21	19	3	32	31	7
Cash from Investing	-12	-1	-1	-15	-2	-3	-6	-13	-6	-12
Cash from Financing	-17	-13	-16	-11	-14	-20	8	-12	-25	5
	2	-2	-1	0	1	-7	-0	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

Shareholding Pattern

Numbers in percentages

	Sep 2014	Mar 2026	Jun 2026
	21.16	57.03	57.09
	0.00	4.30	6.30
	0.00	0.18	0.12
Government	0.00	0.00	0.00
	78.84	38.50	36.49

Documents

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

2026-09-08

Credit Rating

2026-09-08 - Rajputana Stainless Limited has informed the Exchange about Credit Rating

2026-09-07

Outcome of Board Meeting

2026-09-07 - Rajputana Stainless Limited has informed the Exchange regarding Outcome of Board Meeting held on September 07, 2026.

2026-09-07

Disclosure of material issue

2026-09-07 - Rajputana Stainless Limited has informed regarding Disclosure of material issue

2026-09-01

Copy of Newspaper Publication

2026-09-01 - Rajputana Stainless Limited has informed the Exchange about Copy of Newspaper Publication of notice of 35th AGM , Cut-off/Record Date, E-voting and Dividend information.

2026-08-31

Shareholders meeting

2026-08-31 - Rajputana Stainless Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 23, 2026

2026-08-14

Copy of Newspaper Publication

2026-08-14 - Rajputana Stainless Limited has informed the Exchange about Copy of Newspaper Publication of Unaudited Financial Results for the Quarter and three months ended on June 30, 2026.

2026-08-13

Statement of deviation(s) or variation(s) under Reg. 32

2026-08-13 - Rajputana Stainless Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32

2026-08-13

Statement of deviation(s) or variation(s) under Reg. 32

2026-08-13 - Rajputana Stainless Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32

2026-08-12

Change in Management

2026-08-12 - Rajputana Stainless Limited has informed the Exchange about change in Management.Re-Appointment of Statutory Auditor M/s Ruparel & Bavadiya, Chartered Accountants.Appointment of Secretarial Auditor M/s Kavita Khatri & Associates, Company Secretaries. Appointment of Cost Auditor M/s Y S Thakar & Co, Cost Accountants.Appointment of Internal Auditor M/s Jain & Hindocha, Chartered Accountants.

News

Recent coverage and analyst commentary for RSL

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Rajputana Stainless Ltd.

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Name

JINDALSTEL

1147.50

43.06

117055.11

0.17

843.80

-43.60

15482.13

25.93

8.92

17.18

LLOYDSME

1807.60

21.35

101751.06

0.06

1733.89

170.25

7354.40

209.39

27.59

38.26

JAIBALAJI

68.67

21.39

6264.43

0.00

26.48

-82.71

1353.35

-13.06

9.63

5.31

RSL

189.50

31.79

1583.61

0.26

20.20

144.24

306.54

23.65

31.72

9.37

STEELXIND

12.03

395.28

1534.45

0.00

150.26

—

2697.14

—

11.97

12.70

SALSTEEL

80.19

93.39

1160.88

0.00

30.90

419.21

873.70

584.99

4.89

15.51

VRAJ

124.80

11.46

411.62

0.00

11.51

51.65

193.83

40.14

10.52

11.17

VASWANI

45.16

0.00

148.78

0.00

2.52

—

91.74

—

9.77

5.72

Dec 2024

Mar 2025

Jun 2025

Dec 2025

Mar 2026

Jun 2026

233

248

231

251

255

307

214

230

218

227

231

282

Operating Profit

OPM %

8.40%

7.31%

6.03%

9.39%

9.22%

8.14%

Interest

Depreciation

Profit before Tax

Tax %

30.49%

31.65%

24.84%

26.33%

24.35%

25.84%

Net Profit

1.39

1.20

1.62

1.79

1.88

2.42

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

222

191

368

428

432

428

766

948

910

932

1,044

214

198

349

408

409

406

736

904

850

858

958

Operating Profit

-7

OPM %

3.36%

-3.67%

5.21%

4.51%

5.21%

5.12%

3.93%

4.63%

6.53%

7.92%

8.24%

Interest

Depreciation

Profit before Tax

-19

Tax %

-85.17%

31.97%

37.84%

58.72%

42.19%

69.81%

37.59%

15.86%

25.27%

27.06%

25.41%

Net Profit

-13

EPS

0.62

-3.71

1.89

1.23

1.02

0.65

1.26

3.49

9.18

5.78

—

Dividend Payout %

0.00%

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

100

Trade Payables

107

103

132

Total Liabilities

217

208

228

232

237

253

281

297

324

420

Capital Work in Progress

102

110

113

104

133

150

Cash & Bank

102

133

Total Assets

217

208

228

232

237

253

281

297

324

420

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Cash from Investing

-12

-1

-15

-2

-3

-6

-13

-6

-12

Cash from Financing

-17

-13

-16

-11

-14

-20

-12

-25

-2

-1

-7

-0

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Sep 2014

Mar 2026

Jun 2026

21.16

57.03

57.09

0.00

4.30

6.30

0.00

0.18

0.12

Government

0.00

78.84

38.50

36.49

Rajputana Stainless 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

Rajputana Stainless 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