Rites

₹643.2 5.7 | 0.9%

WEBSITE BSE:541556 NSE : RITES 10 May, 16:01

Market Cap ₹15456 Cr.

Stock P/E 33.5

P/B 5.7

Current Price ₹643.2

Book Value ₹ 112.7

Face Value 10

52W High ₹826.2

Dividend Yield 3.19%

52W Low ₹ 364.9

Edit Ratio

Rites Research see more...

Overview Inc. Year: 1974Industry: Engineering

RITES Ltd, collectively with its subsidiaries, offers consultancy, engineering, and project management services in the field of railways, highways, airports, ports, ropeways, urban transport, inland waterways, and renewable electricity. The business enterprise operates through four segments: Consultancy Services; Leasing of Railway Rolling Stock & Equipments; Export of Rolling Stock, Equipments and spares; and Turnkey Construction Projects. It is involved within the survey and feasibility research, unique design and engineering, project control consultancy, third party inspection, quality warranty, production supervision, leasing and export of locomotives and rolling stock, and electricity control activities; and operation, upkeep, and rehabilitation of locomotives and rolling stock. The organisation also constructs railway infrastructure; undertakes electrification works and modernization of railway workshops on a turnkey foundation, and civil production works; and generates electricity from wind generators and solar plants. In addition, it gives services inside the area of structure and planning, bridges and tunnel engineering, environmental/city engineering, electric engineering, financial control, geo-technology, industrial engineering, records generation, substances system management, privatization and concession tasks, railway electrification, rolling inventory design, signal and telecommunication, surveys, and schooling applications. The company serves governments, public quarter undertakings, corporations and business institutions, personal enterprises, and other Apex organizations in India, Asia, Africa, and the United States. RITES Ltd incorporated in 1974 and is primarily based in Gurugram, India.

Rites Share Price

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Peer Comparison

Rites 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	766	775	766	605	659	677	687	544	582	683
Other Income	23	16	22	32	25	26	19	18	26	17
Total Income	789	792	788	637	684	703	706	563	609	700
Total Expenditure	539	579	562	426	478	484	495	383	445	514
Operating Profit	249	212	226	211	206	219	210	180	164	186
Interest	2	3	2	1	1	2	2	1	1	2
Depreciation	14	15	24	15	17	19	17	16	14	15
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	234	195	200	195	188	198	191	163	149	169
Provision for Tax	60	51	58	50	48	52	52	43	40	42
Profit After Tax	174	144	141	144	140	146	139	120	109	127
Adjustments	-5	-6	-5	-7	-8	-6	-7	-12	-8	-7
Profit After Adjustments	169	139	137	138	132	140	132	108	101	120
Adjusted Earnings Per Share	7	5.8	5.7	5.7	5.5	5.8	5.5	4.5	4.2	5

Rites Profit & Loss

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	1097	1017	1102	1351	1497	2047	2474	1905	2662	2628	2496
Other Income	160	154	192	210	154	193	261	100	83	102	80
Total Income	1257	1171	1294	1561	1651	2241	2735	2005	2745	2730	2578
Total Expenditure	853	689	737	993	1080	1471	1814	1356	1938	1883	1837
Operating Profit	404	481	557	568	571	769	921	649	807	847	740
Interest	2	2	1	14	13	9	7	6	7	7	6
Depreciation	20	27	35	38	36	38	47	52	66	67	62
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	382	453	518	505	519	730	874	593	735	774	672
Provision for Tax	122	150	178	167	162	240	241	148	197	203	177
Profit After Tax	260	303	340	337	357	490	633	444	539	571	495
Adjustments	0	-0	-2	-9	-14	-20	-17	-12	-22	-29	-34
Profit After Adjustments	260	303	338	328	342	470	616	432	516	542	461
Adjusted Earnings Per Share	10.4	12.1	13.6	13.1	13.7	18.8	24.6	18	21.5	22.6	19.2

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	-1%	2%	12%	0%
Operating Profit CAGR	5%	-3%	8%	0%
PAT CAGR	6%	-3%	10%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	59%	39%	28%	NA%
ROE Average	22%	21%	22%	21%
ROCE Average	31%	28%	30%	29%

Rites Balance Sheet

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	1402	1629	1883	2038	2214	2422	2633	2392	2489	2604
Minority's Interest	5	15	26	44	57	72	81	88	106	115
Borrowings	16	22	111	76	48	40	33	25	17	0
Other Non-Current Liabilities	138	150	162	200	215	116	251	207	166	268
Total Current Liabilities	2116	1852	2206	2413	2584	2705	2908	3095	3013	2954
Total Liabilities	3677	3668	4388	4771	5117	5354	5906	5806	5791	5941
Fixed Assets	209	221	419	405	401	477	590	584	560	552
Other Non-Current Assets	668	668	518	534	400	331	297	412	569	557
Total Current Assets	2800	2778	3452	3832	4316	4546	5018	4810	4662	4832
Total Assets	3677	3668	4388	4771	5117	5354	5906	5806	5791	5941

Rites Cash Flow

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	394	286	444	429	406	145	169	117	813	809
Cash Flow from Operating Activities	333	-94	463	555	410	164	317	516	310	560
Cash Flow from Investing Activities	-397	291	-570	-58	-459	137	38	184	53	-15
Cash Flow from Financing Activities	-42	-38	38	-215	-217	-279	-419	-708	-440	-483
Net Cash Inflow / Outflow	-106	159	-68	282	-267	22	-64	-9	-78	62
Closing Cash & Cash Equivalent	286	450	426	713	145	169	117	119	809	1048

Rites Ratios

#	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	10.43	12.15	13.57	13.14	13.7	18.78	24.64	17.99	21.49	22.56
CEPS(Rs)	11.23	13.22	15.04	15.02	15.72	21.13	27.22	20.64	25.14	26.54
DPS(Rs)	5.3	6.2	13.6	6.65	5.5	12.75	16	13	17	20.5
Book NAV/Share(Rs)	56.19	65.31	75.53	81.52	88.54	96.88	105.33	99.54	103.56	108.36
Core EBITDA Margin(%)	22.22	32.19	33.09	26.5	24.92	25.15	23.97	25.31	24.78	24.82
EBIT Margin(%)	35.01	44.74	47.13	38.35	31.81	32.27	31.99	27.57	25.42	26.02
Pre Tax Margin(%)	34.86	44.58	47.02	37.34	31	31.87	31.72	27.29	25.17	25.79
PAT Margin (%)	23.71	29.81	30.89	24.94	21.32	21.38	22.98	20.46	18.44	19.03
Cash Profit Margin (%)	25.53	32.42	34.04	27.78	23.49	23.06	24.69	22.84	20.69	21.25
ROA(%)	9.59	8.25	8.45	7.36	7.21	9.35	11.25	7.59	9.29	9.73
ROE(%)	25.68	20.01	19.38	17.19	16.77	21.13	25.05	17.68	22.07	22.42
ROCE(%)	34.16	28.4	27.87	25.13	24.24	31.2	34.29	23.48	30.07	30.52
Receivable days	83.87	121.74	149.28	134.45	101.37	85.83	96.23	120.02	82.76	100.16
Inventory Days	18.49	18.62	9.37	8.35	6.52	9.11	7.65	24.95	25.3	9.1
Payable days	221.2	532.14	260.55	117.5	178.98	397.22	177.75	1471.99	138.57	470.74
PER(x)	0	0	0	0	0	11.03	9.98	13.37	12.23	15.72
Price/Book(x)	0	0	0	0	0	2.14	2.34	2.42	2.54	3.27
Dividend Yield(%)	0	0	0	0	0	4.92	6.51	5.4	6.47	5.78
EV/Net Sales(x)	-1.77	-1.84	-2.12	-1.93	-2.23	0.84	1.04	1.29	1.14	1.93
EV/Core EBITDA(x)	-4.81	-3.88	-4.19	-4.58	-5.86	2.24	2.8	3.79	3.77	5.99
Net Sales Growth(%)	53.47	-7.28	8.38	22.65	10.8	36.73	20.85	-23	39.71	-1.26
EBIT Growth(%)	487.65	18.48	14.17	-0.19	2.66	38.39	19.28	-32.11	24.24	5.2
PAT Growth(%)	396.1	16.6	12.29	-0.95	5.78	36.56	29.3	-29.85	21.54	6.01
EPS Growth(%)	156.49	16.51	11.69	-3.2	4.29	37.09	31.22	-26.99	19.43	4.97
Debt/Equity(x)	0.06	0.06	0.06	0.04	0.03	0.02	0.02	0.01	0.01	0
Current Ratio(x)	1.32	1.5	1.56	1.59	1.67	1.68	1.73	1.55	1.55	1.64
Quick Ratio(x)	1.3	1.5	1.56	1.59	1.67	1.64	1.72	1.46	1.51	1.63
Interest Cover(x)	232.67	280.78	440.08	37.86	39.47	80.87	120.28	99.27	102.39	110.93
Total Debt/Mcap(x)	0	0	0	0	0	0.01	0.01	0.01	0	0

Rites Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	72.2	72.2	72.2	72.2	72.2	72.2	72.2	72.2	72.2	72.2
FII	1.3	1.45	1.48	2.35	2.61	3.38	3.45	3.98	3.21	4.18
DII	16.69	16.89	17.26	17.57	15.78	15.9	15.24	12.72	12.28	11.09
Public	9.8	9.46	9.06	7.88	9.41	8.53	9.11	11.1	12.31	12.53
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	17.35	17.35	17.35	17.35	17.35	17.35	17.35	17.35	17.35	17.35
FII	0.31	0.35	0.36	0.56	0.63	0.81	0.83	0.96	0.77	1
DII	4.01	4.06	4.15	4.22	3.79	3.82	3.66	3.06	2.95	2.67
Public	2.35	2.27	2.18	1.89	2.26	2.05	2.19	2.67	2.96	3.01
Others	0	0	0	0	0	0	0	0	0	0
Total	24.03	24.03	24.03	24.03	24.03	24.03	24.03	24.03	24.03	24.03

Pros

Company has a good return on equity (ROE) track record: 3 Years ROE 21%
Company has reduced debt.
Company is almost debt free.

Cons

Debtor days have increased from 138.57 to 470.74days.
Stock is trading at 5.7 times its book value.
The company has delivered a poor profit growth of 9% over past five years.

* 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.

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Rites

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Rites Research see more...

Overview Inc. Year: 1974Industry: Engineering

Rites Share Price

Alert Data

Quarterly Price

Peer Comparison

Rites Quarterly Results

Rites Profit & Loss

Growth Rates

Rites Balance Sheet

Rites Cash Flow

Rites Ratios

Rites Shareholding Pattern

Rites News

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