WEBSITE BSE:533608 NSE: RDB RASAYAN Inc. Year: 1995 Industry: Plastic Products My Bucket: Add Stock
Last updated: 10:44
No Notes Added Yet
1. Business Overview
RDB Rasayans Ltd. is an Indian company primarily engaged in the manufacturing and sale of plastic products. While specific product details are not provided, companies in this sector typically produce a range of items such as woven sacks, flexible packaging, plastic films, pipes, or other molded plastic goods. The core business model involves procuring raw plastic polymers (e.g., PP, PE) and converting them through various manufacturing processes (like extrusion, weaving, lamination) into finished plastic products. The company makes money by selling these manufactured plastic goods to various end-user industries (e.g., agriculture, infrastructure, packaging, industrial goods, retail).
2. Key Segments / Revenue Mix
Based on the provided information, the company's primary business segment is "Plastic Products." Specific revenue contribution from different types of plastic products (e.g., woven sacks, films, rigid packaging, etc.) is not detailed in the available information. Therefore, it is assumed the revenue largely stems from its diversified offerings within the plastic products manufacturing domain.
3. Industry & Positioning
The Indian plastic products industry is generally characterized by high fragmentation, significant competition, and dependence on raw material prices (crude oil derivatives). The industry serves a wide array of end-user sectors. RDB Rasayans Ltd. operates within this competitive landscape, likely positioning itself as a manufacturer of specific plastic products, aiming to cater to industrial or consumer packaging needs. Its positioning relative to larger, more diversified players or smaller regional players would depend on its production capacity, product specialization, and market reach.
4. Competitive Advantage (Moat)
Without specific details, RDB Rasayans Ltd.'s competitive advantages (moats) may include:
Cost Efficiency: Potential for economies of scale in manufacturing or efficient production processes.
Established Client Relationships: Long-standing relationships with industrial buyers or distributors.
Distribution Network: An effective sales and distribution network across its target markets in India.
Product Specialization: Expertise in producing niche or specialized plastic products with high barriers to entry.
However, the plastic products industry typically has lower barriers to entry for many standard products, making strong, durable moats less common for undifferentiated products.
5. Growth Drivers
Key factors that can drive growth for RDB Rasayans Ltd. over the next 3-5 years include:
Growing Demand for Packaging: Increase in consumer spending, e-commerce, and organized retail driving demand for various packaging solutions.
Infrastructure Development: Government focus on infrastructure projects (e.g., construction, agriculture) leading to increased demand for plastic pipes, geo-membranes, or other industrial plastic products.
Export Opportunities: Leveraging competitive manufacturing costs to tap into international markets.
Product Innovation & Diversification: Introduction of new products, value-added plastics, or sustainable plastic solutions to meet evolving market needs.
Market Share Gains: Expansion into new geographies or securing new large clients within India.
6. Risks
Highlight key business risks:
Raw Material Price Volatility: Significant fluctuations in crude oil prices directly impact the cost of polymer raw materials, affecting profitability.
Intense Competition: Highly fragmented industry with numerous domestic and international players, leading to pricing pressures.
Regulatory Changes: Potential for stricter environmental regulations, bans on single-use plastics, or extended producer responsibility (EPR) norms, which could impact production and costs.
Economic Slowdown: A downturn in the Indian economy or specific end-user industries could reduce demand for plastic products.
Technology & Product Obsolescence: Failure to innovate or adapt to new manufacturing technologies or product trends could lead to loss of market relevance.
Working Capital Management: High working capital requirements due to inventory management and credit cycles.
7. Management & Ownership
RDB Rasayans Ltd. is typically a promoter-led company, common in India, where the founding family or individuals retain significant ownership and control, often holding key management positions. Specific details regarding the promoters, their experience, or the management team's track record are not provided. The ownership structure would likely show a significant stake held by the promoter group, with the remaining shares held by the public and institutional investors.
8. Outlook
The outlook for RDB Rasayans Ltd. is balanced. The company operates in a growing industry supported by India's expanding economy, infrastructure push, and increasing consumption. Potential for growth exists through expanding product offerings, enhancing distribution, and capitalizing on domestic demand for various plastic applications, including packaging. However, the business faces notable headwinds from volatile raw material prices, intense competition, and evolving environmental regulations impacting the plastic industry. Its ability to manage costs, innovate products, and navigate regulatory changes will be crucial for sustained performance.
Our experts help you choose the right stocks based on performance, risk, and growth potential.
Market Cap ₹265 Cr.
Stock P/E 9.8
P/B 1.1
Current Price ₹149.4
Book Value ₹ 136
Face Value 10
52W High ₹192
Dividend Yield 0%
52W Low ₹ 114.5
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 26 | 25 | 26 | 61 | 31 | 27 | 29 | 28 | 34 | 26 |
| Other Income | 4 | 5 | 5 | 6 | 6 | 5 | 6 | 6 | 7 | 6 |
| Total Income | 30 | 30 | 31 | 67 | 36 | 32 | 35 | 34 | 41 | 32 |
| Total Expenditure | 22 | 21 | 23 | 57 | 28 | 24 | 25 | 22 | 26 | 21 |
| Operating Profit | 7 | 9 | 8 | 10 | 8 | 8 | 10 | 12 | 15 | 11 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 7 | 9 | 8 | 10 | 8 | 8 | 10 | 11 | 15 | 11 |
| Provision for Tax | 2 | 2 | 2 | 3 | 2 | 2 | 2 | 3 | 4 | 3 |
| Profit After Tax | 5 | 7 | 6 | 7 | 6 | 6 | 7 | 9 | 11 | 8 |
| Adjustments | 0 | 0 | 0 | 0 | -0 | -0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 5 | 7 | 6 | 7 | 6 | 6 | 7 | 9 | 11 | 8 |
| Adjusted Earnings Per Share | 2.9 | 3.7 | 3.2 | 4.1 | 3.4 | 3.2 | 4.2 | 4.8 | 6.3 | 4.6 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 68 | 63 | 70 | 78 | 89 | 90 | 92 | 123 | 109 | 103 | 148 | 117 |
| Other Income | 9 | 6 | 6 | 9 | 10 | 10 | 10 | 12 | 15 | 17 | 22 | 25 |
| Total Income | 77 | 70 | 76 | 87 | 99 | 100 | 102 | 135 | 124 | 120 | 170 | 142 |
| Total Expenditure | 65 | 61 | 66 | 73 | 84 | 80 | 74 | 106 | 90 | 87 | 133 | 94 |
| Operating Profit | 12 | 9 | 10 | 14 | 15 | 20 | 28 | 29 | 34 | 34 | 37 | 48 |
| Interest | 1 | 1 | 1 | 2 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 9 | 7 | 9 | 12 | 12 | 18 | 27 | 28 | 33 | 32 | 36 | 47 |
| Provision for Tax | 3 | 3 | 3 | 4 | 3 | 6 | 8 | 6 | 8 | 8 | 9 | 12 |
| Profit After Tax | 6 | 4 | 6 | 7 | 9 | 12 | 19 | 22 | 24 | 24 | 26 | 35 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 6 | 4 | 6 | 7 | 9 | 12 | 19 | 22 | 24 | 24 | 26 | 35 |
| Adjusted Earnings Per Share | 3.7 | 2.3 | 3.3 | 4.1 | 5.1 | 6.5 | 10.7 | 12.4 | 13.8 | 13.7 | 14.9 | 19.9 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 44% | 6% | 10% | 8% |
| Operating Profit CAGR | 9% | 8% | 13% | 12% |
| PAT CAGR | 8% | 6% | 17% | 16% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 22% | 18% | 12% | 22% |
| ROE Average | 13% | 14% | 16% | 13% |
| ROCE Average | 18% | 19% | 21% | 17% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 59 | 63 | 69 | 76 | 85 | 97 | 116 | 138 | 162 | 186 | 213 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 1 | 1 | 1 | 3 | 2 | 1 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1 | 1 | 2 | 2 | 2 | 3 | 3 | 2 | 2 | 2 | 2 |
| Total Current Liabilities | 20 | 12 | 18 | 24 | 23 | 14 | 21 | 17 | 12 | 14 | 13 |
| Total Liabilities | 81 | 77 | 90 | 106 | 112 | 114 | 140 | 157 | 176 | 203 | 228 |
| Fixed Assets | 12 | 11 | 14 | 14 | 13 | 13 | 13 | 14 | 13 | 13 | 12 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 2 | 2 | 3 | 2 | 2 | 4 | 4 |
| Total Current Assets | 69 | 65 | 76 | 92 | 97 | 99 | 124 | 141 | 161 | 186 | 212 |
| Total Assets | 81 | 77 | 90 | 106 | 112 | 114 | 140 | 157 | 176 | 203 | 228 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 0 | 0 | 0 | 1 | 1 | 0 | 0 | 7 | 0 | 1 | 0 |
| Cash Flow from Operating Activities | 4 | 2 | -4 | -12 | -1 | 2 | -3 | -6 | 45 | -76 | -12 |
| Cash Flow from Investing Activities | -5 | 5 | -0 | 8 | 8 | 8 | 3 | 6 | -39 | 74 | 12 |
| Cash Flow from Financing Activities | 1 | -7 | 5 | 3 | -7 | -11 | 6 | -5 | -5 | 1 | -0 |
| Net Cash Inflow / Outflow | 0 | -0 | 1 | -0 | -0 | 0 | 6 | -6 | 1 | -1 | 0 |
| Closing Cash & Cash Equivalent | 0 | 0 | 1 | 1 | 0 | 0 | 7 | 0 | 1 | 0 | 0 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 3.66 | 2.35 | 3.26 | 4.14 | 5.09 | 6.5 | 10.73 | 12.45 | 13.76 | 13.68 | 14.94 |
| CEPS(Rs) | 4.16 | 2.83 | 3.74 | 4.75 | 5.72 | 7.15 | 11.37 | 13.15 | 14.49 | 14.39 | 15.6 |
| DPS(Rs) | 0.5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 33.2 | 35.77 | 39.01 | 43.15 | 48.22 | 54.69 | 65.42 | 77.89 | 91.64 | 105.27 | 120.22 |
| Core EBITDA Margin(%) | 3.4 | 3.29 | 5.53 | 6.76 | 5.78 | 10.67 | 20.07 | 13.75 | 17.76 | 15.97 | 10.24 |
| EBIT Margin(%) | 14.26 | 11.11 | 11.95 | 16.87 | 15.45 | 21.02 | 29.36 | 22.62 | 30.01 | 31.4 | 24.31 |
| Pre Tax Margin(%) | 12.4 | 9.72 | 11.04 | 14.73 | 13.84 | 19.62 | 29.03 | 22.42 | 29.9 | 31.25 | 24.23 |
| PAT Margin (%) | 8.65 | 5.95 | 7.31 | 9.37 | 10.09 | 12.82 | 20.57 | 17.93 | 22.27 | 23.48 | 17.84 |
| Cash Profit Margin (%) | 9.84 | 7.17 | 8.39 | 10.75 | 11.34 | 14.11 | 21.81 | 18.94 | 23.45 | 24.7 | 18.62 |
| ROA(%) | 8.6 | 5.25 | 6.93 | 7.51 | 8.27 | 10.17 | 14.94 | 14.85 | 14.62 | 12.79 | 12.29 |
| ROE(%) | 11.6 | 6.8 | 8.71 | 10.08 | 11.13 | 12.63 | 17.87 | 17.38 | 16.23 | 13.89 | 13.25 |
| ROCE(%) | 16.01 | 10.93 | 12.36 | 14.89 | 14.24 | 18.99 | 24.01 | 20.75 | 21.54 | 18.53 | 18 |
| Receivable days | 45.87 | 48.12 | 46.45 | 51.11 | 47.45 | 50.53 | 56.73 | 52.4 | 63.25 | 57.93 | 38.97 |
| Inventory Days | 41.81 | 31.93 | 13.63 | 10.92 | 20.18 | 18.18 | 8.54 | 8.67 | 11.63 | 12.89 | 10.03 |
| Payable days | 29.65 | 27.33 | 18.82 | 22.25 | 31.49 | 39.29 | 28.6 | 16.22 | 20.44 | 22.48 | 12.02 |
| PER(x) | 4.63 | 8.31 | 11.13 | 16.73 | 10.42 | 4.74 | 5.21 | 7.51 | 5.57 | 10.75 | 8.06 |
| Price/Book(x) | 0.51 | 0.55 | 0.93 | 1.61 | 1.1 | 0.56 | 0.85 | 1.2 | 0.84 | 1.4 | 1 |
| Dividend Yield(%) | 2.95 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.22 | 0.23 | 1.07 | 1.79 | 0.94 | 0.63 | 1.09 | 1.33 | 0.95 | 2.37 | 1.32 |
| EV/Core EBITDA(x) | 1.28 | 1.65 | 7.32 | 9.83 | 5.6 | 2.84 | 3.56 | 5.64 | 3.06 | 7.27 | 5.24 |
| Net Sales Growth(%) | -7.6 | -6.89 | 11.01 | 11.6 | 14.09 | 0.52 | 2.91 | 33.14 | -11.03 | -5.7 | 43.77 |
| EBIT Growth(%) | 151.47 | -27.43 | 21.65 | 39.84 | 4.53 | 36.75 | 43.7 | 2.59 | 18.02 | -1.34 | 11.34 |
| PAT Growth(%) | 295.58 | -35.92 | 38.91 | 27.15 | 22.75 | 27.81 | 65.08 | 16.04 | 10.49 | -0.57 | 9.24 |
| EPS Growth(%) | 295.59 | -35.92 | 38.91 | 27.15 | 22.75 | 27.8 | 65.08 | 16.04 | 10.49 | -0.57 | 9.24 |
| Debt/Equity(x) | 0.21 | 0.12 | 0.19 | 0.25 | 0.15 | 0.03 | 0.08 | 0.03 | 0 | 0 | 0 |
| Current Ratio(x) | 3.49 | 5.66 | 4.25 | 3.8 | 4.18 | 7.2 | 5.77 | 8.25 | 13.3 | 13.04 | 16.23 |
| Quick Ratio(x) | 3.08 | 5.29 | 4.16 | 3.68 | 3.88 | 7.05 | 5.66 | 8.05 | 13.01 | 12.77 | 15.91 |
| Interest Cover(x) | 7.64 | 7.98 | 13.02 | 7.91 | 9.56 | 15.03 | 88.99 | 112.88 | 280.21 | 216.73 | 274.54 |
| Total Debt/Mcap(x) | 0.42 | 0.21 | 0.2 | 0.15 | 0.14 | 0.06 | 0.1 | 0.03 | 0 | 0 | 0 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 69.83 | 69.83 | 69.83 | 69.83 | 69.83 | 69.83 | 69.83 | 69.83 | 69.83 | 69.83 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 30.17 | 30.17 | 30.17 | 30.17 | 30.17 | 30.17 | 30.17 | 30.17 | 30.17 | 30.17 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 1.24 | 1.24 | 1.24 | 1.24 | 1.24 | 1.24 | 1.24 | 1.24 | 1.24 | 1.24 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.53 | 0.53 | 0.53 | 0.53 | 0.53 | 0.53 | 0.53 | 0.53 | 0.53 | 0.53 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.77 | 1.77 | 1.77 | 1.77 | 1.77 | 1.77 | 1.77 | 1.77 | 1.77 | 1.77 |
* The pros and cons are machine generated.
You May Also Know About
Looking to buy unlisted shares or need guidance on the investment process? Our expert Private Equity Advisors are here to assist you with accurate information, real-time pricing, and seamless execution.
Want to sell unlisted shares, liquidate your ESOPs, or understand the step-by-step process of liquidation? Connect with our Buying Team for smooth coordination, quick evaluations, and end-to-end support.
Planning to build or grow your portfolio? For Mutual Fund investments, PMS solutions, tailored portfolio creation, and overall wealth management, our dedicated Wealth Team is ready to guide you.