Engineering - Industrial Equipments · Founded 1992 · www.rishilaser.com · BSE 526861 · · ISIN INE988D01012
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Business
Rishi Laser Ltd. is an Indian company operating in the Engineering - Industrial Equipments sector. Based on its name, it likely specializes in the design, manufacturing, and sale of laser-based industrial equipment and related machinery. This could include products like laser cutting machines, laser welding machines, laser marking systems, and potentially other industrial automation solutions that utilize laser technology. The core business model involves B2B sales to manufacturing industries, defense, automotive, and other sectors requiring precision material processing. Revenue is generated through equipment sales, installation services, after-sales support, maintenance contracts, and the sale of consumables and spare parts.
Revenue Mix
Specific revenue mix and segment breakdown for Rishi Laser Ltd. are not publicly available without access to their financial reports. However, based on the industry and company name, potential segments could include:
Laser Cutting Machines: For various materials like metal, wood, plastic.
Laser Welding & Marking Systems: Precision joining and engraving solutions.
Automation & Integration: Custom solutions incorporating laser technology into production lines.
Services & Consumables: After-sales support, maintenance, spare parts, and specialized gases or optics.
It is likely that equipment sales form the primary revenue driver, supplemented by recurring revenue from services and consumables.
Industry
The Indian Engineering - Industrial Equipments sector, particularly in laser technology, is characterized by growing demand driven by industrialization and automation. The industry is competitive, featuring both domestic manufacturers and international players (often offering high-end, specialized machinery). Rishi Laser Ltd. likely positions itself by offering solutions tailored to the Indian market, potentially focusing on cost-effectiveness, local service support, and specific application niches. Its positioning relative to peers would depend on its technological capabilities, product range, manufacturing scale, and market reach. Domestic players often compete on price and localized customization, while global players might offer more advanced, premium solutions.
MOAT
Without specific company details, potential competitive advantages (moats) for Rishi Laser Ltd. could include:
Technical Expertise & R&D: Specialization in laser technology, leading to proprietary designs or efficient manufacturing processes.
Service Network: A robust local service and support network in India, which is crucial for industrial machinery and can be a significant differentiator against foreign competitors.
Cost Efficiency: Ability to produce competitive equipment at a lower cost, making it attractive to a price-sensitive market.
Customer Relationships: Long-standing relationships with industrial clients due to reliability and customization capabilities.
Switching Costs: For complex industrial machinery, replacing an existing supplier can involve significant costs and downtime, creating a moderate switching cost moat.
Growth Drivers
Key factors that can drive growth for Rishi Laser Ltd. over the next 3-5 years include:
"Make in India" Initiative: Government focus on boosting domestic manufacturing, leading to increased demand for industrial equipment.
Infrastructure Development: Large-scale infrastructure projects require significant fabrication and processing, driving equipment sales.
Automation & Industry 4.0 Adoption: Growing trend of industries adopting automation and advanced manufacturing technologies for efficiency and precision.
Diversification of End-User Industries: Expanding client base across sectors like automotive, defense, aerospace, electronics, and general engineering.
Technological Advancements: Introduction of more efficient, powerful, or specialized laser systems.
Risks
Key business risks for Rishi Laser Ltd. include:
Economic Downturns: Industrial equipment demand is cyclical and highly sensitive to overall economic health and industrial CAPEX spending.
Intense Competition: From both domestic and international players, leading to pricing pressure and market share battles.
Technological Obsolescence: Rapid advancements in laser technology or alternative processing methods could render existing products less competitive.
Raw Material Price Volatility: Fluctuations in the cost of metals, electronic components, and specialized parts can impact profitability.
Import Dependency: Reliance on imported critical components or intellectual property can expose the company to currency fluctuations and supply chain disruptions.
Skilled Labor Shortage: Difficulty in finding and retaining engineers and technicians skilled in laser technology.
Management & Ownership
As a company in India, Rishi Laser Ltd. is likely promoter-led, meaning the founding family or individuals hold a significant ownership stake and play a crucial role in management. This structure often implies a long-term strategic vision and direct involvement in operations. The quality of management would depend on their experience in the engineering and manufacturing sector, ability to innovate, adapt to market changes, and execute growth strategies. Ownership typically comprises promoters, potentially institutional investors, and the public (if listed).
Outlook
Rishi Laser Ltd. operates in a promising sector benefiting from India's industrial growth and focus on domestic manufacturing. The increasing adoption of automation and advanced processing technologies provides a strong demand tailwind for laser-based industrial equipment. Potential for growth exists through expanding product lines, increasing market penetration, and leveraging a strong service network. However, the company faces significant competition from both domestic and global players, requiring continuous investment in R&D and manufacturing efficiency to maintain its competitive edge. Economic cycles and raw material price volatility also pose ongoing challenges. Its ability to innovate, offer cost-effective solutions, and provide robust after-sales support will be critical for sustained success.
| #(Fig in Cr.) | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 22 | 28 | 18 | 31 | 35 | 34 | 30 | 34 | 36 | 34 |
| Other Income | 0 | 1 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 |
| Total Income | 23 | 29 | 18 | 31 | 35 | 35 | 31 | 34 | 36 | 34 |
| Total Expenditure | 22 | 26 | 18 | 29 | 33 | 32 | 29 | 32 | 33 | 31 |
| Operating Profit | 1 | 3 | 0 | 1 | 2 | 3 | 2 | 2 | 3 | 3 |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Exceptional Income / Expenses | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -1 | 2 | -1 | -0 | 1 | 1 | 0 | 1 | 2 | 2 |
| Provision for Tax | 0 | -0 | -0 | 0 | -0 | 0 | -0 | 0 | 0 | -0 |
| Profit After Tax | -1 | 2 | -1 | -0 | 1 | 1 | 1 | 1 | 2 | 2 |
| Adjustments | 0 | -0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -1 | 2 | -1 | -0 | 1 | 1 | 1 | 1 | 2 | 2 |
| Adjusted Earnings Per Share | -0.8 | 2.4 | -1.3 | -0.2 | 0.9 | 1 | 0.6 | 0.8 | 1.9 | 2 |
| #(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 | 165 | 122 | 101 | 104 | 96 | 121 | 141 | 92 | 75 | 117 | 134 | 134 |
| Other Income | 6 | 0 | 1 | 0 | 3 | 3 | 3 | 2 | 1 | 2 | 2 | 0 |
| Total Income | 171 | 122 | 102 | 105 | 99 | 123 | 144 | 94 | 76 | 119 | 136 | 135 |
| Total Expenditure | 152 | 119 | 99 | 100 | 91 | 116 | 134 | 94 | 73 | 112 | 126 | 125 |
| Operating Profit | 20 | 4 | 3 | 5 | 8 | 8 | 10 | -0 | 3 | 7 | 11 | 10 |
| Interest | 11 | 8 | 9 | 8 | 5 | 4 | 4 | 3 | 2 | 4 | 3 | 4 |
| Depreciation | 10 | 10 | 10 | 6 | 4 | 4 | 4 | 4 | 4 | 3 | 3 | 4 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 2 | 0 | 0 | 5 | 1 | 0 | 0 | 0 |
| Profit Before Tax | -2 | -15 | -17 | -8 | 1 | -1 | 2 | -3 | -2 | 0 | 5 | 5 |
| Provision for Tax | -1 | -1 | -1 | -0 | 0 | -1 | -2 | -0 | 0 | 0 | -0 | 0 |
| Profit After Tax | -1 | -14 | -16 | -8 | 1 | -0 | 4 | -2 | -2 | 0 | 5 | 6 |
| Adjustments | 0 | 1 | 1 | 0 | 0 | -0 | -0 | -0 | -0 | -0 | 0 | 0 |
| Profit After Adjustments | -1 | -14 | -15 | -8 | 1 | -0 | 3 | -2 | -2 | 0 | 5 | 6 |
| Adjusted Earnings Per Share | -1 | -14.8 | -16.2 | -8.9 | 1 | -0.1 | 3.8 | -2.5 | -2.4 | 0.4 | 5.4 | 5.3 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 15% | 13% | 2% | -2% |
| Operating Profit CAGR | 57% | 0% | 7% | -6% |
| PAT CAGR | 0% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 7% | 30% | 58% | 20% |
| ROE Average | 39% | 7% | 6% | -9% |
| ROCE Average | 34% | 17% | 14% | 7% |
| #(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 | 50 | 36 | 21 | 19 | 35 | 35 | 37 | 34 | 32 | 40 | 45 |
| Minority's Interest | 3 | 2 | 1 | -0 | -0 | -0 | -0 | 0 | 0 | 0 | 0 |
| Borrowings | 14 | 14 | 9 | 28 | 26 | 19 | 10 | 8 | 6 | 4 | 0 |
| Other Non-Current Liabilities | 4 | 3 | 2 | 2 | 5 | 5 | 3 | 5 | 6 | 9 | 5 |
| Total Current Liabilities | 79 | 75 | 80 | 36 | 38 | 46 | 54 | 43 | 42 | 41 | 35 |
| Total Liabilities | 149 | 131 | 113 | 85 | 104 | 104 | 105 | 89 | 86 | 94 | 84 |
| Fixed Assets | 73 | 64 | 55 | 39 | 57 | 56 | 53 | 52 | 47 | 56 | 54 |
| Other Non-Current Assets | 7 | 7 | 5 | 5 | 7 | 7 | 6 | 5 | 5 | 2 | 2 |
| Total Current Assets | 69 | 59 | 53 | 41 | 40 | 42 | 46 | 32 | 34 | 31 | 27 |
| Total Assets | 149 | 131 | 113 | 85 | 104 | 104 | 105 | 89 | 86 | 94 | 84 |
| #(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 | 2 | 1 | 1 | 2 | 1 | 3 | 0 | 2 | 4 | 1 |
| Cash Flow from Operating Activities | 24 | 9 | 8 | 2 | 8 | 12 | 5 | 4 | 2 | 8 | 5 |
| Cash Flow from Investing Activities | -1 | -2 | 1 | 1 | -3 | -1 | -0 | 1 | 3 | -7 | 6 |
| Cash Flow from Financing Activities | -24 | -8 | -9 | -2 | -7 | -9 | -7 | -4 | -4 | -4 | -10 |
| Net Cash Inflow / Outflow | -1 | -1 | -0 | 1 | -1 | 2 | -2 | 1 | 2 | -3 | 1 |
| Closing Cash & Cash Equivalent | 2 | 1 | 1 | 2 | 1 | 3 | 0 | 2 | 4 | 1 | 2 |
| # | 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) | -0.98 | -14.83 | -16.17 | -8.85 | 1.02 | -0.13 | 3.8 | -2.53 | -2.4 | 0.35 | 5.38 |
| CEPS(Rs) | 10.31 | -4.07 | -5.78 | -2.42 | 5.38 | 4.24 | 7.89 | 1.98 | 1.66 | 3.65 | 8.46 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 55.06 | 39.45 | 23.26 | 20.14 | 37.94 | 13.56 | 16.23 | 12.63 | 10.84 | 11.26 | 16.34 |
| Core EBITDA Margin(%) | 7.42 | 2.54 | 1.8 | 3.95 | 4.85 | 4.08 | 4.86 | -2.75 | 2.21 | 4.31 | 6.3 |
| EBIT Margin(%) | 4.94 | -5.01 | -6.58 | -0.79 | 5.49 | 3.04 | 4.09 | 0.51 | 0.45 | 3.33 | 5.8 |
| Pre Tax Margin(%) | -0.96 | -11.12 | -15.22 | -7.31 | 0.97 | -0.61 | 1.3 | -2.76 | -2.75 | 0.35 | 3.45 |
| PAT Margin (%) | -0.66 | -10.56 | -14.16 | -7.21 | 0.89 | -0.08 | 2.48 | -2.46 | -2.96 | 0.28 | 3.68 |
| Cash Profit Margin (%) | 5.05 | -2.79 | -4.84 | -1.92 | 4.69 | 3.17 | 5.14 | 1.98 | 2.04 | 2.86 | 5.8 |
| ROA(%) | -0.78 | -10.15 | -12.74 | -8.43 | 0.99 | -0.1 | 3.36 | -2.33 | -2.52 | 0.36 | 5.56 |
| ROE(%) | -2.42 | -33.12 | -53.97 | -41.86 | 3.51 | -0.43 | 25.59 | -17.05 | -20.48 | 3.2 | 38.96 |
| ROCE(%) | 7.97 | -6.93 | -8.78 | -1.36 | 9.3 | 6.98 | 15.51 | 1.53 | 1.34 | 16.52 | 34.09 |
| Receivable days | 78.93 | 94.4 | 98.54 | 85.94 | 86.16 | 72.33 | 70.34 | 94.44 | 90.44 | 51.85 | 40.93 |
| Inventory Days | 46.78 | 59.91 | 70.53 | 48.33 | 38.65 | 35.54 | 33.31 | 47.82 | 48.59 | 31.58 | 27.06 |
| Payable days | 98.04 | 147.87 | 160.44 | 133.1 | 163.71 | 159.8 | 154.66 | 246.67 | 265.46 | 147.85 | 118.7 |
| PER(x) | 0 | 0 | 0 | 0 | 26.48 | 0 | 5.53 | 0 | 0 | 47.93 | 4.37 |
| Price/Book(x) | 0.25 | 0.38 | 0.51 | 0.99 | 0.71 | 1.77 | 1.29 | 0.41 | 0.98 | 1.49 | 1.44 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.41 | 0.53 | 0.65 | 0.53 | 0.59 | 0.39 | 0.27 | 0.2 | 0.26 | 0.24 | 0.2 |
| EV/Core EBITDA(x) | 3.45 | 17.28 | 24.76 | 11.25 | 7.15 | 6.06 | 4.06 | -45.56 | 6.68 | 4.03 | 2.52 |
| Net Sales Growth(%) | -10.45 | -26.2 | -17.3 | 3.47 | -7.8 | 25.33 | 17.06 | -34.83 | -18.91 | 57.31 | 14.32 |
| EBIT Growth(%) | -27 | -174.28 | -7.34 | 87.42 | 736.47 | -35.4 | 54.3 | -91.87 | -28.02 | 1058.9 | 98.87 |
| PAT Growth(%) | -393.22 | -1073.05 | -9.5 | 46.32 | 111.23 | -110.82 | 3555.03 | -164.54 | 2.28 | 114.69 | 1422.64 |
| EPS Growth(%) | -306.8 | -1417.95 | -9.07 | 45.26 | 111.52 | -112.56 | 3065.45 | -166.68 | 5.04 | 114.58 | 1434.27 |
| Debt/Equity(x) | 1.15 | 1.42 | 2.59 | 2.09 | 0.93 | 2.2 | 1.31 | 1.31 | 1.38 | 1.28 | 0.47 |
| Current Ratio(x) | 0.87 | 0.79 | 0.67 | 1.12 | 1.06 | 0.92 | 0.85 | 0.76 | 0.82 | 0.77 | 0.79 |
| Quick Ratio(x) | 0.59 | 0.49 | 0.41 | 0.83 | 0.75 | 0.66 | 0.6 | 0.51 | 0.6 | 0.5 | 0.53 |
| Interest Cover(x) | 0.84 | -0.82 | -0.76 | -0.12 | 1.22 | 0.83 | 1.47 | 0.16 | 0.14 | 1.12 | 2.47 |
| Total Debt/Mcap(x) | 4.64 | 3.75 | 5.06 | 2.1 | 1.31 | 1.24 | 1.02 | 3.21 | 1.41 | 0.86 | 0.32 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 15.84 | 15.84 | 15.84 | 15.84 | 15.84 | 16.16 | 16.16 | 16.16 | 16.16 | 16.12 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 84.16 | 84.16 | 84.16 | 84.16 | 84.16 | 83.84 | 83.84 | 83.84 | 83.84 | 83.88 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 | 0.16 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.77 | 0.77 | 0.77 | 0.77 | 0.77 | 0.77 | 0.77 | 0.77 | 0.77 | 0.84 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.92 | 0.92 | 0.92 | 0.92 | 0.92 | 0.92 | 0.92 | 0.92 | 0.92 | 1 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | +15% | +13% | +2% | -2% |
| Operating Profit CAGR | +57% | — | +7% | -6% |
| PAT CAGR | — | — | — | — |
| Share Price CAGR | +7% | +30% | +58% | +20% |
| ROE Average | +39% | +7% | +6% | -9% |
| ROCE Average | +34% | +17% | +14% | +7% |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 15.84 | 15.84 | 15.84 | 15.84 | 15.84 | 16.16 | 16.16 | 16.16 | 16.16 | 16.12 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 84.16 | 84.16 | 84.16 | 84.16 | 84.16 | 83.84 | 83.84 | 83.84 | 83.84 | 83.88 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 | 0.16 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.77 | 0.77 | 0.77 | 0.77 | 0.77 | 0.77 | 0.77 | 0.77 | 0.77 | 0.84 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.92 | 0.92 | 0.92 | 0.92 | 0.92 | 0.92 | 0.92 | 0.92 | 0.92 | 1 |
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