RACL Geartech

₹1268 -32.3 | 2.5%

WEBSITE BSE:520073 NSE : RACLGEAR 10 May, 16:01

Market Cap ₹1367 Cr.

Stock P/E 33.7

P/B 7

Current Price ₹1268

Book Value ₹ 182.4

Face Value 10

52W High ₹1525

Dividend Yield 0.12%

52W Low ₹ 931

Edit Ratio

RACL Geartech Research see more...

Overview Inc. Year: 1983Industry: Auto Ancillary

RACL Geartech Ltd, formerly Raunaq Automotive Components Ltd, is an totally India-based agency, that's engaged in automotive gears and additives business. The Company is in production of gears, shafts and different automotive thing components. The Company, thru its manufacturing unit, produces automotive additives in the discipline of bikes and scooters, 3 wheeler passenger, 4 wheeler passenger, cargo motors, agricultural equipment, tractors, all-terrain vehicle (ATV), and light and heavy business vehicles, among others. The Company additionally manufactures sub-assemblies, commercial gears for electrical switch gears and circuit breakers, and winches and cranes. The Company's products include Transmission Gears & Shafts, Reduction Gears Trains CVT Gear Boxes, Engine Timing Gears, Sub-Assemblies, Sprockets & Ratchets, Precision Machined Parts, Synchronizing Cones & Rings and Industrial Gears. The Company's production plants are located at Uttar Pradesh.

RACL Geartech Share Price

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Peer Comparison

RACL Geartech Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	69	75	70	78	88	97	95	88	102	113
Other Income	1	0	3	3	3	3	1	1	2	2
Total Income	70	75	73	81	90	100	96	90	103	115
Total Expenditure	54	59	57	63	67	73	73	66	78	86
Operating Profit	16	16	16	18	23	27	24	23	25	29
Interest	2	3	4	5	5	6	5	5	6	6
Depreciation	4	4	4	4	5	5	5	7	6	6
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	10	9	7	8	13	16	14	12	14	17
Provision for Tax	3	1	2	2	3	4	4	3	3	5
Profit After Tax	7	8	5	6	10	12	10	9	10	12
Adjustments	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	7	8	5	6	10	12	10	9	10	12
Adjusted Earnings Per Share	6	7	4.6	5.6	9.2	11.1	8.9	8.1	9.5	11.1

RACL Geartech Profit & Loss

#(Fig in Cr.)	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	190	212	204	271	358	398
Other Income	1	1	4	4	9	6
Total Income	191	213	208	275	367	404
Total Expenditure	159	171	153	214	277	303
Operating Profit	32	42	55	61	91	101
Interest	6	8	8	12	21	22
Depreciation	8	11	16	16	19	24
Exceptional Income / Expenses	0	0	0	0	0	0
Profit Before Tax	17	22	30	33	51	57
Provision for Tax	8	5	7	9	14	15
Profit After Tax	10	17	23	24	37	41
Adjustments	-0	-1	0	-1	-0	0
Profit After Adjustments	9	16	24	23	37	41
Adjusted Earnings Per Share	9.5	15.7	22.2	21.7	34.5	37.6

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	32%	19%	0%	0%
Operating Profit CAGR	49%	29%	0%	0%
PAT CAGR	54%	30%	0%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	35%	72%	78%	60%
ROE Average	25%	23%	21%	21%
ROCE Average	22%	20%	19%	19%

RACL Geartech Balance Sheet

#(Fig in Cr.)	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	66	85	108	131	167
Minority's Interest	0	0	0	0	0
Borrowings	31	31	52	71	85
Other Non-Current Liabilities	14	18	15	16	18
Total Current Liabilities	87	94	104	140	181
Total Liabilities	199	228	278	359	452
Fixed Assets	95	108	140	178	227
Other Non-Current Assets	2	2	10	11	19
Total Current Assets	103	117	128	170	206
Total Assets	199	228	278	359	452

RACL Geartech Cash Flow

#(Fig in Cr.)	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	1	1	1	1	1
Cash Flow from Operating Activities	19	33	39	11	60
Cash Flow from Investing Activities	-31	-26	-49	-55	-76
Cash Flow from Financing Activities	11	-7	10	44	17
Net Cash Inflow / Outflow	-0	0	0	-0	2
Closing Cash & Cash Equivalent	1	1	1	1	3

RACL Geartech Ratios

#	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	9.5	15.74	22.23	21.68	34.46
CEPS(Rs)	17.28	26.2	37.02	36.74	52.06
DPS(Rs)	0	1	1	1	1.5
Book NAV/Share(Rs)	64.65	78.96	100.2	121.88	155.34
Core EBITDA Margin(%)	16.16	19.36	25.06	21.09	22.79
EBIT Margin(%)	12.49	14.29	19.01	16.71	20.12
Pre Tax Margin(%)	9.13	10.32	14.85	12.14	14.35
PAT Margin (%)	5.14	7.99	11.54	8.81	10.45
Cash Profit Margin (%)	9.35	13.3	19.6	14.61	15.67
ROA(%)	4.91	7.96	9.29	7.51	9.24
ROE(%)	14.7	22.39	24.32	19.97	25.05
ROCE(%)	15.64	18.66	19.87	17.74	21.68
Receivable days	97.78	89.93	97.64	88.89	82.23
Inventory Days	69.19	66.6	75.22	66.74	77.46
Payable days	122.57	108.27	141.06	116.34	111.18
PER(x)	7.24	3.44	11.02	28.41	26.43
Price/Book(x)	1.07	0.69	2.45	5.05	5.86
Dividend Yield(%)	0	1.85	0.41	0.16	0.16
EV/Net Sales(x)	0.82	0.69	1.82	3.02	3.3
EV/Core EBITDA(x)	4.9	3.51	6.73	13.41	13.02
Net Sales Growth(%)	0	11.78	-4.11	33.2	32.07
EBIT Growth(%)	0	27.98	27.56	17.03	59.08
PAT Growth(%)	0	73.67	38.41	1.78	56.56
EPS Growth(%)	0	65.61	41.25	-2.47	58.9
Debt/Equity(x)	1.28	1.04	1	1.24	1.21
Current Ratio(x)	1.18	1.24	1.23	1.21	1.13
Quick Ratio(x)	0.77	0.8	0.82	0.81	0.61
Interest Cover(x)	3.72	3.59	4.57	3.65	3.49
Total Debt/Mcap(x)	1.2	1.52	0.41	0.25	0.21

RACL Geartech Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	53.4	53.45	53.45	53.41	53.39	53.38	53.35	53.35	53.34	53.31
FII	0.08	0.08	0.09	0.07	0.07	0.07	0.07	0.07	0.07	0.07
DII	0	0	0	0	0	0	0	0	0	0
Public	46.51	46.47	46.46	46.51	46.53	46.54	46.57	46.57	46.58	46.62
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	0.58	0.58	0.58	0.58	0.58	0.58	0.58	0.58	0.58	0.57
FII	0	0	0	0	0	0	0	0	0	0
DII	0	0	0	0	0	0	0	0	0	0
Public	0.5	0.5	0.5	0.5	0.5	0.5	0.5	0.5	0.5	0.5
Others	0	0	0	0	0	0	0	0	0	0
Total	1.08	1.08	1.08	1.08	1.08	1.08	1.08	1.08	1.08	1.08

Pros

Company has a good return on equity (ROE) track record: 3 Years ROE 23%
Debtor days have improved from 116.34 to 111.18days.

Cons

Stock is trading at 7 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.