Rajratan Global Wire

₹598.7 6.8 | 1.1%

WEBSITE BSE:517522 NSE : RAJ GLO WIR 10 May, 16:01

Market Cap ₹3039 Cr.

Stock P/E 42.3

P/B 6.2

Current Price ₹598.7

Book Value ₹ 97

Face Value 2

52W High ₹880.2

Dividend Yield 0.33%

52W Low ₹ 578

Edit Ratio

Rajratan Global Wire Research see more...

Overview Inc. Year: 1988Industry: Auto Ancillary

Rajratan Global Wire Ltd (RGWL) is engaged in production of steel wires. It,thru its subsidiary, Rajratan Thai Wire Company Ltd, is engaged within the business of producing and sale of tire bead wire. The Company, thru its subsidiary, Swaraj Technocrafts Pvt. Ltd., is in production of wiredrawing machinery and tools. Its tire bead wire is utilized in all sorts of automobile tires, tires of earth moving system's and aircrafts. The Company's high carbon steel cord packages include mechanical spring, high performance spring, mattress spring and lacing wire, hose reinforcement, bedding and seating, wire rope and cable, conveyor belt, automotive cable-outer and inner, metal fiber, and cut wire shot for shot blasting and pinning.

Rajratan Global Wire Share Price

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Peer Comparison

Rajratan Global Wire Quarterly Results

#(Fig in Cr.)	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Net Sales	222	248	251	225	200	219	204	214	233	240
Other Income	1	1	1	2	-1	1	1	1	-0	1
Total Income	222	248	253	227	199	220	205	216	233	241
Total Expenditure	174	200	199	187	162	186	179	180	198	205
Operating Profit	48	48	54	40	37	35	26	35	34	35
Interest	4	4	4	4	4	4	5	5	5	4
Depreciation	4	4	4	4	5	5	4	4	5	5
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	40	40	46	31	28	26	17	26	24	26
Provision for Tax	7	3	11	8	6	6	5	6	5	6
Profit After Tax	33	37	35	23	22	20	12	19	20	20
Adjustments	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	33	37	35	23	22	20	12	19	20	20
Adjusted Earnings Per Share	6.5	7.3	6.8	4.6	4.3	4	2.4	3.8	3.9	4

Rajratan Global Wire Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	252	283	274	283	283	345	493	480	547	893	895	891
Other Income	2	1	1	1	2	5	2	1	2	2	3	3
Total Income	254	283	275	284	286	349	495	481	548	895	899	895
Total Expenditure	232	259	249	241	242	311	440	412	454	711	733	762
Operating Profit	22	24	26	43	43	38	54	69	94	184	165	130
Interest	14	15	14	15	11	9	11	13	13	15	17	19
Depreciation	7	8	7	7	7	8	9	12	14	16	18	18
Exceptional Income / Expenses	0	0	0	0	0	2	0	0	0	0	0	0
Profit Before Tax	1	1	5	21	25	23	34	44	66	153	130	93
Provision for Tax	3	3	3	5	7	6	7	11	13	28	30	22
Profit After Tax	-2	-2	2	16	19	17	27	33	53	124	100	71
Adjustments	-0	-0	0	0	-0	0	0	0	0	0	0	0
Profit After Adjustments	-2	-2	2	16	19	17	27	33	53	124	100	71
Adjusted Earnings Per Share	-0.4	-0.4	0.4	3.2	3.7	3.4	5.3	6.5	10.5	24.5	19.7	14.1

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	0%	23%	21%	14%
Operating Profit CAGR	-10%	34%	34%	22%
PAT CAGR	-19%	45%	43%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-24%	41%	57%	55%
ROE Average	26%	32%	28%	18%
ROCE Average	27%	30%	26%	20%

Rajratan Global Wire Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	53	51	51	67	96	115	142	173	227	341	439
Minority's Interest	1	1	1	0	0	0	0	0	0	0	0
Borrowings	34	22	27	14	8	4	40	54	59	54	86
Other Non-Current Liabilities	9	9	8	8	4	7	8	11	11	10	12
Total Current Liabilities	121	140	137	119	126	136	148	147	155	237	226
Total Liabilities	218	222	224	209	235	262	338	385	451	642	764
Fixed Assets	109	105	103	100	115	129	168	229	242	281	325
Other Non-Current Assets	7	5	5	8	4	7	37	12	14	52	164
Total Current Assets	102	112	116	101	116	126	133	144	195	309	276
Total Assets	218	222	224	209	235	262	338	385	451	642	764

Rajratan Global Wire Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	3	7	1	6	3	3	6	0	0	3	1
Cash Flow from Operating Activities	25	21	20	34	32	39	48	51	39	122	162
Cash Flow from Investing Activities	-7	1	-4	-8	-15	-18	-71	-45	-27	-96	-169
Cash Flow from Financing Activities	-14	-28	-12	-28	-17	-18	22	-7	-10	-28	10
Net Cash Inflow / Outflow	4	-6	4	-3	-0	3	-2	-0	3	-2	2
Closing Cash & Cash Equivalent	7	1	6	3	3	6	4	0	3	1	3

Rajratan Global Wire Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	-0.44	-0.42	0.36	3.24	3.72	3.37	5.26	6.51	10.47	24.5	19.73
CEPS(Rs)	0.95	1.08	1.67	4.54	5.14	4.89	7.07	8.89	13.25	27.56	23.29
DPS(Rs)	0.2	0.2	0.2	0.24	0.3	0.3	0.4	0.4	1.6	2	2
Book NAV/Share(Rs)	10.45	9.97	10.09	13.2	18.16	21.85	27.25	33.37	43.83	67.19	86.58
Core EBITDA Margin(%)	7.29	7.63	8.34	13.75	13.46	9.55	10.63	14.17	16.85	20.26	17.92
EBIT Margin(%)	5.28	5.44	6.39	11.79	11.81	9.22	9.11	11.89	14.57	18.75	16.29
Pre Tax Margin(%)	0.32	0.42	1.65	6.97	8.34	6.73	6.92	9.1	12.12	17.03	14.43
PAT Margin (%)	-0.81	-0.66	0.58	5.34	6.21	4.9	5.42	6.88	9.72	13.87	11.08
Cash Profit Margin (%)	1.75	1.79	2.85	7.56	8.57	7.12	7.28	9.4	12.3	15.6	13.08
ROA(%)	-1.04	-0.92	0.77	7.52	8.53	6.88	8.9	9.14	12.7	22.75	14.24
ROE(%)	-4.1	-3.92	3.37	27.53	23.75	16.83	21.44	21.49	27.12	44.14	25.66
ROCE(%)	8.36	9.99	11.25	21.2	20.45	16.32	18.59	19.33	23.43	39.9	27.04
Receivable days	71.05	69.98	77.81	71.03	74.09	72.13	53.28	59.1	66.9	60.58	64.08
Inventory Days	33.28	33.24	41.96	40.81	37.98	36.34	29.98	32.89	30.83	27.06	33.95
Payable days	42.82	63.76	78.12	66.16	64.17	56.71	40.55	47.56	48.46	55.33	69.1
PER(x)	0	0	18.9	5.27	14.11	13.25	10.83	5.79	14.99	21.19	37.69
Price/Book(x)	0.7	0.7	0.67	1.29	2.89	2.04	2.09	1.13	3.58	7.73	8.59
Dividend Yield(%)	1.17	1.23	1.27	0.6	0.24	0.29	0.3	1.06	1.02	0.39	0.27
EV/Net Sales(x)	0.59	0.52	0.55	0.64	1.26	0.92	0.86	0.7	1.7	3.09	4.39
EV/Core EBITDA(x)	6.88	6.06	5.88	4.27	8.3	8.31	7.81	4.83	9.94	15.05	23.79
Net Sales Growth(%)	0.33	12.01	-3.21	3.39	0.2	21.58	43.04	-2.57	13.81	63.37	0.28
EBIT Growth(%)	-18.01	15.06	13.53	89.69	0.05	-10.64	39.71	27.17	39.45	111.04	-12.44
PAT Growth(%)	-167.23	8.27	184.5	848.43	16.15	-9.6	56.28	23.74	60.76	134.01	-19.47
EPS Growth(%)	-168.57	4.81	184.4	808.15	14.76	-9.44	56.11	23.74	60.76	134.01	-19.47
Debt/Equity(x)	2.22	2.23	2.39	1.47	1.02	0.87	0.99	0.86	0.64	0.4	0.39
Current Ratio(x)	0.84	0.8	0.84	0.85	0.92	0.92	0.9	0.98	1.26	1.3	1.22
Quick Ratio(x)	0.63	0.58	0.56	0.6	0.65	0.66	0.59	0.7	0.93	0.96	0.84
Interest Cover(x)	1.07	1.08	1.35	2.45	3.41	3.71	4.15	4.27	5.95	10.89	8.75
Total Debt/Mcap(x)	3.17	3.19	3.57	1.14	0.35	0.43	0.47	0.76	0.18	0.05	0.05

Rajratan Global Wire Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	65	65	65	65	65	65.1	65.1	65.1	65.1	65.14
FII	0.01	0	0	0.18	0.53	0.62	0.68	0.64	0.73	0.87
DII	8.55	8.06	8.04	8.01	8.15	8.04	8.28	8.42	8.69	7.97
Public	26.44	26.93	26.96	26.82	26.31	26.24	25.95	25.84	25.49	26.02
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	0.66	3.3	3.3	3.3	3.3	3.31	3.31	3.31	3.31	3.31
FII	0	0	0	0.01	0.03	0.03	0.03	0.03	0.04	0.04
DII	0.09	0.41	0.41	0.41	0.41	0.41	0.42	0.43	0.44	0.4
Public	0.27	1.37	1.37	1.36	1.34	1.33	1.32	1.31	1.29	1.32
Others	0	0	0	0	0	0	0	0	0	0
Total	1.02	5.08	5.08	5.08	5.08	5.08	5.08	5.08	5.08	5.08

Pros

Company has delivered good profit growth of 42% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 32%
Company is almost debt free.

Cons

Debtor days have increased from 55.33 to 69.1days.
Stock is trading at 6.2 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.