RS Software (India)

₹247.4 7.5 | 3.1%

WEBSITE BSE:517447 NSE : R.S.SOFTWARE 18 May, 12:50

Market Cap ₹636 Cr.

Stock P/E 35.1

P/B 13.1

Current Price ₹247.4

Book Value ₹ 18.9

Face Value 5

52W High ₹298.6

Dividend Yield 0%

52W Low ₹ 33.2

Edit Ratio

RS Software (India) Research see more...

Overview Inc. Year: 1987Industry: IT - Software

RS Software (India) Limited is a public limited company that is a leading technology solution and services provider focused on the electronic payment industry. Services, such as healthcheck, professional services, consulting, custom application development, quality assurance, testing, maintenance, and support. Portfolio includes has a range of products, such as RS RTPS, RS Digitaledge, RS Realedge, RS Billabhi-Central, RS Billabhi-Bank, RS Intelliedge, RS Intelliedge-Central and RS Intelliedge-Banks, that cater to various segments of the payment industry, such as networks, processors, banks, merchants, payment service providers and national payments infrastructure. Promotors are Raj Jain, who is the chairman and managing director, and Sarita Jain, who is a non-executive director. They hold 39.25% and 1.43% of the shareholding respectively.

RS Software (India) Share Price

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Peer Comparison

RS Software (India) 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	6	4	5	5	8	12	11	11	19	18
Other Income	0	0	0	0	0	0	0	2	0	2
Total Income	6	5	5	5	8	12	11	13	19	20
Total Expenditure	10	8	8	9	8	10	9	10	10	12
Operating Profit	-4	-3	-3	-4	0	3	3	3	10	8
Interest	0	0	0	0	0	0	0	0	0	0
Depreciation	1	1	1	1	1	1	1	1	1	1
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	-5	-4	-4	-5	-1	1	1	2	8	7
Provision for Tax	0	4	0	0	0	0	0	0	0	0
Profit After Tax	-5	-8	-4	-5	-1	1	1	2	8	7
Adjustments	0	0	0	0	0	0	0	0	-0	0
Profit After Adjustments	-5	-7	-4	-5	-1	1	1	2	8	7
Adjusted Earnings Per Share	-1.9	-2.9	-1.5	-1.8	-0.2	0.4	0.6	0.8	3.1	2.6

RS Software (India) 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	318	382	376	190	76	63	65	60	35	28	30	59
Other Income	4	7	12	15	13	9	6	16	2	6	1	4
Total Income	323	389	388	205	89	72	72	77	38	33	31	63
Total Expenditure	269	305	283	186	111	108	103	116	54	41	36	41
Operating Profit	54	84	105	19	-23	-36	-31	-39	-16	-8	-4	24
Interest	1	1	0	0	0	0	1	1	1	0	0	0
Depreciation	3	5	6	4	4	2	3	4	5	4	4	4
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	50	77	99	14	-27	-39	-35	-44	-21	-12	-9	18
Provision for Tax	12	24	32	4	-10	-12	-6	30	0	4	0	0
Profit After Tax	38	54	67	11	-17	-27	-28	-74	-21	-16	-9	18
Adjustments	0	0	0	0	0	1	1	0	0	1	1	0
Profit After Adjustments	38	54	67	11	-17	-26	-27	-74	-21	-15	-8	18
Adjusted Earnings Per Share	15.7	20.9	26.2	4.1	-6.5	-10.3	-10.6	-28.8	-8.2	-5.9	-3.2	7.1

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	7%	-21%	-14%	-21%
Operating Profit CAGR	0%	0%	0%	NAN%
PAT CAGR	0%	0%	0%	NAN%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	602%	105%	55%	11%
ROE Average	-25%	-30%	-34%	-7%
ROCE Average	-24%	-26%	-27%	-1%

RS Software (India) 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	124	176	224	229	214	188	159	77	56	39	30
Minority's Interest	0	0	0	0	2	1	3	1	1	0	0
Borrowings	0	0	0	0	0	0	0	0	8	0	0
Other Non-Current Liabilities	4	5	3	2	-7	-19	-26	2	2	1	3
Total Current Liabilities	15	21	16	22	13	11	11	8	5	7	9
Total Liabilities	143	201	243	254	222	182	147	89	72	48	43
Fixed Assets	12	18	12	9	8	13	12	20	15	10	10
Other Non-Current Assets	39	69	47	44	45	49	43	9	11	4	5
Total Current Assets	92	115	184	202	169	119	92	60	46	33	29
Total Assets	143	201	243	254	222	182	147	89	72	48	43

RS Software (India) 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	22	28	41	81	106	41	36	22	12	12	10
Cash Flow from Operating Activities	8	53	61	19	-39	-37	-30	-41	-15	9	-10
Cash Flow from Investing Activities	2	-33	-10	10	-23	43	17	34	15	-2	6
Cash Flow from Financing Activities	-4	-6	-11	-4	-3	-0	-1	-3	-1	-8	0
Net Cash Inflow / Outflow	6	14	40	24	-64	7	-14	-9	-1	-1	-3
Closing Cash & Cash Equivalent	28	41	81	106	41	48	22	12	12	10	7

RS Software (India) 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)	15.66	20.92	26.24	4.13	-6.46	-10.28	-10.57	-28.8	-8.24	-5.88	-3.17
CEPS(Rs)	17.09	23.06	28.4	5.75	-5.02	-9.66	-9.67	-27.2	-6.36	-4.52	-1.8
DPS(Rs)	1.75	3	3.25	1	0	0	0	0	0	0	0
Book NAV/Share(Rs)	50.87	68.66	87.22	89.24	83.1	73.09	61.9	30.02	21.67	15.27	11.86
Core EBITDA Margin(%)	15.58	20.03	24.8	1.86	-46.05	-70.84	-56.78	-92.3	-51.06	-49.77	-18.12
EBIT Margin(%)	15.9	20.52	26.42	7.82	-34.81	-60.9	-51.97	-71.87	-58.25	-43.58	-27.7
Pre Tax Margin(%)	15.6	20.29	26.32	7.57	-35.03	-61.3	-52.85	-73.32	-59.72	-43.89	-28.82
PAT Margin (%)	11.92	14.03	17.9	5.59	-22.18	-42.67	-43.07	-122.82	-59.74	-57.53	-28.82
Cash Profit Margin (%)	13.01	15.47	19.38	7.78	-16.95	-39.14	-38.03	-115.99	-46.11	-42.26	-15.35
ROA(%)	29.89	31.16	30.34	4.27	-7.1	-13.43	-17.15	-62.87	-26.46	-26.52	-19.07
ROE(%)	36	35.84	33.71	4.68	-7.62	-13.48	-16.23	-62.67	-31.88	-33.35	-24.9
ROCE(%)	47.49	52.26	49.75	6.56	-11.93	-19.18	-19.59	-36.67	-29.37	-23.33	-23.9
Receivable days	37.4	40.42	45.38	62.27	76.41	69.32	45.21	35.92	82.18	93.6	28.73
Inventory Days	0	0	0	0	0	0	0	0	0	0	0
Payable days	0	0	0	1015.62	363.31	3545.26	320.35	621.41	530.79	409.15	1034.52
PER(x)	4.14	4.15	6.51	19.83	0	0	0	0	0	0	0
Price/Book(x)	1.28	1.26	1.96	0.92	1.14	0.69	0.46	0.37	1.12	2.02	1.87
Dividend Yield(%)	2.7	3.46	1.9	1.22	0	0	0	0	0	0	0
EV/Net Sales(x)	0.41	0.47	0.95	0.55	2.68	1.49	0.78	0.27	1.66	2.51	1.65
EV/Core EBITDA(x)	2.4	2.16	3.41	5.51	-9.06	-2.61	-1.67	-0.41	-3.71	-8.88	-11.58
Net Sales Growth(%)	20.5	20.03	-1.43	-49.52	-59.93	-16.68	3.1	-7.82	-41.18	-22.37	9.46
EBIT Growth(%)	42.28	54.89	26.94	-85.06	-278.33	-45.77	12.02	-27.48	52.33	41.92	30.43
PAT Growth(%)	31.42	41.28	25.76	-84.25	-259.08	-60.31	-4.07	-162.85	71.39	25.25	45.16
EPS Growth(%)	24.45	33.61	25.42	-84.26	-256.35	-59.22	-2.75	-172.56	71.39	28.59	46.15
Debt/Equity(x)	0	0	0	0	0.01	0	0	0	0.14	0	0
Current Ratio(x)	6.29	5.52	11.38	9.02	12.94	10.4	8.72	7.6	8.67	4.66	3.19
Quick Ratio(x)	6.29	5.52	11.38	9.02	12.94	10.4	8.72	7.6	8.67	4.66	3.19
Interest Cover(x)	53.68	89.18	262.26	31.51	-157.82	-151.3	-59.35	-49.75	-39.65	-143.84	-24.66
Total Debt/Mcap(x)	0	0	0	0	0.01	0	0	0	0.12	0	0

RS Software (India) Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	40.67	40.67	40.67	40.67	40.67	40.67	40.67	40.67	40.67	40.67
FII	2.22	2.21	1.95	1.95	1.95	1.95	1.95	1.95	1.95	0.99
DII	0.06	0.06	0.06	0.06	0.06	0.06	0.06	0.06	0.06	0.06
Public	57.04	57.06	57.32	57.32	57.32	57.32	57.32	57.32	57.32	58.27
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	1.05	1.05	1.05	1.05	1.05	1.05	1.05	1.05	1.05	1.05
FII	0.06	0.06	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.03
DII	0	0	0	0	0	0	0	0	0	0
Public	1.47	1.47	1.47	1.47	1.47	1.47	1.47	1.47	1.47	1.5
Others	0	0	0	0	0	0	0	0	0	0
Total	2.57	2.57	2.57	2.57	2.57	2.57	2.57	2.57	2.57	2.57

Pros

Company is almost debt free.

Cons

Promoter holding is low: 40.67%.
Company has a low return on equity of -30% over the last 3 years.
Debtor days have increased from 409.15 to 1034.52days.
Stock is trading at 13.1 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.