Micro Steel

Rasi Electrodes Ltd.

RASIELEC

₹19.77

-1.93% (-0.39)

Market Cap

₹62 Cr.

P/E

22.49

Rasi Electrodes Ltd.
Overview
Financials
Benchmarking
Shareholding

Rasi Electrodes Ltd.

Rasi Electrodes Ltd.
Overview
Financials
Benchmarking
Shareholding

Price
Growth Table
Balance Sheet
Profit & Loss
Cash Flow
Cash Flow Analysis
Ratios
Quarterly Results
Reverse DCF

FAQs on Rasi Electrodes Ltd. Shareprice

Has the share price of Rasi Electrodes grown faster than its competition?

Rasi Electrodes has given lower returns compared to its competitors.
Rasi Electrodes has grown at ~3.93% over the last 10yrs while peers have grown at a median rate of 21.03%

Is Rasi Electrodes stock expensive?

Rasi Electrodes is expensive when considering the EV/EBIDTA, however latest PE is < 3 yr avg PE.
Latest PE of Rasi Electrodes is 22.49, while 3 year average PE is 22.86.
Also latest EV/EBITDA of Rasi Electrodes is 15.59 while 3yr average is 14.88.

View FAQ's On Business

Growth Table

Rasi Electrodes Ltd.
Mahavir Industries
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Royal Arc Electrodes
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In %	1yr	2yr	3yr	4yr	5yr	6yr	7yr	8yr	9yr	10yr
Share Price CAGR	-25.28	11.02	27.14	33.63	55.85	30.68	21.46	15.69	10.35	3.93
TTM EPS CAGR	-15.08	-4.59	8.95	35.72	41.25	18.51	13.41	22.94	11.60	10.40
Sales CAGR	-2.85	-3.54	6.00	19.87	12.12	9.43	13.49	14.83	14.85	13.26
PAT Margin (Abs Growth)	0.39	0.83	0.39	2.70	1.67	1.35	0.65	-0.12	0.17	1.36
PE CAGR	-12.01	16.36	16.70	-1.54	10.34	10.27	7.10	-5.90	-1.12	-5.86
CFO CAGR	-41.37	—	—	0.08	23.38	—	—	102	—	4.06

* Share price and PE growth are updated everyday. All other fields are as of latest financial year end. EPS adjusted for bonus and splits.

Balance Sheet

Rasi Electrodes Ltd.
Mahavir Industries
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Royal Arc Electrodes
Loading...

In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Assets	27.77	27.41	29.23	30.81	28.41	32.65	38.28	34.63	37.13	39.13
Non Current Assets	7.23	5.93	6.08	7.01	7.32	6.49	6.31	6.72	7.06	6.68
Net Block	6.50	5.99	5.85	6.87	7.12	6.47	6.29	6.74	6.88	6.48
Capital Work in Progress	0.00	0.04	0.00	0.00	0.04	0.00	0.01	0.00	0.00	—
Intangible Assets Under Development	—	—	—	—	—	—	—	—	—	—
Long Term Investments	0.79	—	—	—	—	—	—	—	—	—
Current Assets	20.47	21.38	23.37	23.93	21.26	26.18	31.98	27.89	30.25	32.45
Inventory	4.86	5.21	5.67	6.34	6.35	8.70	11.60	9.25	7.56	7.41
Accounts Receivable	6.24	7.98	9.44	10.39	10.10	11.91	15.21	14.49	14.44	14.16
Short Term Investments	—	0.76	0.47	0.44	0.21	0.32	0.54	0.51	0.75	2.09
Cash & Bank Balances	2.97	0.73	0.98	0.60	0.51	1.11	0.51	0.33	2.08	5.16
Liabilities	27.77	27.41	29.23	30.81	28.41	32.65	38.28	34.63	37.13	39.13
Shareholders Funds	20.66	21.02	21.84	22.81	23.27	24.47	26.43	29.42	32.59	35.27
Share Capital	6.23	6.23	6.23	6.23	6.23	6.23	6.23	6.23	6.23	6.23
Reserves	14.42	14.80	15.61	16.58	17.05	18.24	20.21	23.20	26.36	29.04
Non Current Liabilities	0.33	0.53	0.24	0.40	0.44	0.80	0.92	0.97	0.83	1.08
Secured Loans	—	—	—	—	—	—	—	—	—	—
Unsecured Loans	—	—	—	—	—	—	—	—	—	—
Current Liabilities	6.78	5.86	7.15	7.59	4.70	7.38	10.93	4.24	3.71	2.78
Accounts Payable	0.17	0.44	0.94	1.28	1.29	0.73	0.14	0.02	0.97	0.39
Short Term Loans	5.34	4.47	5.47	5.66	2.46	5.47	9.56	3.18	1.30	1.04

Balance Sheet Snapshot

No data available.

Fund Flow Analysis

Increase
Decrease
Total

No data available.

*Data is as of latest FY end

Profit & Loss

Rasi Electrodes Ltd.
Mahavir Industries
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Royal Arc Electrodes
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Sales	23.08	26.84	34.24	47.43	45.96	39.45	68.38	87.53	83.83	81.44
Operating Expenses	20.98	24.73	32.89	44.76	44.75	37.17	65.71	83.67	79.75	77.73
Raw Material	12.89	15.08	21.05	32.66	29.90	25.91	51.36	68.80	60.54	63.44
Others	12.89	15.08	21.05	32.66	29.90	25.91	51.36	68.80	60.54	—
Chemicals	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—
Mild Steel	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—
Material Cost (%)	66.31	68.04	74.33	75.49	72.59	76.52	80.98	80.10	78.37	79.44
Employee Cost	1.94	2.39	2.52	2.77	2.94	2.34	3.09	3.61	3.92	4.86
Power & Fuel Cost	0.01	0.77	1.01	1.25	1.34	0.96	1.29	1.69	1.74	—
Operating Profit	2.09	2.11	1.35	2.67	1.21	2.28	2.67	3.86	4.08	3.71
Other Income	0.79	0.62	0.88	0.60	0.92	0.85	1.25	1.45	1.05	0.87
OPM (%)	9.07	7.85	3.93	5.63	2.63	5.79	3.90	4.41	4.87	4.56
Depreciation and Amortisation	0.80	0.82	0.68	0.82	0.88	0.75	0.68	0.68	0.78	0.68
Interest	0.38	0.49	0.71	0.68	0.46	0.37	0.46	0.46	0.18	0.14
Profit Before Tax	1.70	1.42	0.84	1.77	0.78	2.01	2.79	4.17	4.16	3.77
Tax	0.69	0.56	-0.01	0.75	0.27	0.66	0.74	1.16	0.95	1.03
Net Profit	1.01	0.85	0.85	1.02	0.51	1.36	2.05	3.01	3.20	2.74
Number of shares(Crs)	3.12	3.11	3.11	3.11	3.11	3.11	3.11	3.11	3.11	—
Dividend Payout Ratio(%)	30.91	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

TTM Values as of Mar 2025

Cash Flow

Rasi Electrodes Ltd.
Mahavir Industries
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Royal Arc Electrodes
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Sep'24
Cash from Operating Activity	0.02	-0.50	-0.25	1.54	4.38	-2.42	-3.90	7.50	4.40	3.87
Profit Before Tax	1.70	1.42	0.84	1.77	0.78	2.01	2.79	4.17	4.16	4.66
Adjustments	0.67	1.04	0.98	1.12	1.22	0.56	0.73	0.90	0.38	0.39
OCF Before Working Capital	2.04	2.46	1.81	2.89	2.01	2.58	3.52	5.07	4.53	5.05
Working Capital Changes	-2.02	-2.43	-1.75	-0.71	2.66	-4.54	-6.72	3.57	1.00	-0.08
Taxes Paid	—	-0.53	-0.31	-0.64	-0.28	-0.46	-0.70	-1.14	-1.13	-1.11
Cash from Investing Activity	-1.34	-0.36	0.20	-1.43	-0.81	0.39	-0.34	-0.85	-0.58	-0.71
Net Fixed Assets Purchased	-1.02	-0.30	-0.49	-1.84	-1.12	-0.00	-0.52	-1.12	-0.86	-0.34
Fixed Assets Purchased	-1.82	-0.32	-0.53	-1.84	-1.12	-0.06	-0.51	-1.12	-0.97	-0.34
Fixed Assets Sold	0.80	0.01	0.04	0.00	-0.00	0.05	-0.00	—	0.10	—
Investment Purchased	-0.77	-0.28	-0.07	—	—	—	-0.09	-0.00	—	—
Investment Sold	—	—	0.29	0.01	0.03	0.12	—	—	0.01	—
Interest Recieved	0.46	0.29	0.47	0.39	0.31	0.27	0.26	0.27	0.27	0.30
Dividends Recieved	—	0.01	0.01	0.00	0.01	0.00	0.00	0.01	0.01	—
Subsidiary Investments	—	—	—	—	—	—	—	—	—	—
Cash from Financing Activity	1.63	-1.38	0.29	-0.49	-3.66	2.63	3.63	-6.84	-2.06	0.21
Proceeds From Shares	—	—	—	—	—	—	—	—	—	—
Net Long Term Borrowings	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Proceeds From Borrowings	—	—	—	—	—	—	—	—	—	—
Repayment From Borrowings	—	—	—	—	—	—	—	—	—	—
Interest Paid	—	-0.49	-0.71	-0.68	-0.46	-0.37	-0.46	-0.46	-0.18	-0.17
Dividend Paid	-0.36	—	—	—	—	—	—	—	—	—
Net Cash Flow	0.31	-2.24	0.25	-0.38	-0.09	0.60	-0.61	-0.18	1.76	3.37
Opening Cash & Cash Equivalents	2.67	2.97	0.73	0.98	0.60	0.51	1.11	0.51	0.33	—
Effect of FX	—	—	—	—	—	—	—	—	—	—
Closing Cash & Cash Equivalents	2.97	0.73	0.98	0.60	0.51	1.11	0.51	0.33	2.08	—
Net Capex (est)	1.02	0.30	0.49	1.84	1.12	0.00	0.52	1.12	0.86	0.34
Free Cash Flow (est)	-1.01	-0.81	-0.74	-0.30	3.26	-2.42	-4.41	6.38	3.53	3.53

Cash Flow Analysis

Increase
Decrease
Total

No data available.

Ratios

= Dominant Factor

Rasi Electrodes Ltd.
Mahavir Industries
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Royal Arc Electrodes
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	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Operational Ratios
Quick Ratio	2.82	2.30	2.76	2.48	2.32	3.17	2.37	1.86	4.40	6.11
Liquid Assets (Crs)	14.90	15.61	16.17	17.71	17.59	14.91	17.49	20.38	18.64	22.69
Current Liabilities (Crs)	5.29	6.78	5.86	7.15	7.59	4.70	7.38	10.93	4.24	3.71
Current Ratio	3.56	3.02	3.65	3.27	3.15	4.52	3.55	2.93	6.58	8.14
Current Assets (Crs)	18.82	20.47	21.38	23.37	23.93	21.26	26.18	31.98	27.89	30.25
Current Liabilities (Crs)	5.29	6.78	5.86	7.15	7.59	4.70	7.38	10.93	4.24	3.71
Interest Coverage Ratio	4.39	5.43	3.89	2.18	3.61	2.69	6.45	7.08	10.15	23.59
EBIT (Crs)	1.92	2.08	1.91	1.55	2.45	1.25	2.38	3.25	4.63	4.34
Interest Expenses (Crs)	0.44	0.38	0.49	0.71	0.68	0.46	0.37	0.46	0.46	0.18
Fixed Asset Turnover	2.29	2.06	2.34	2.87	3.45	3.09	2.65	4.50	5.36	4.92
Net Sales (Crs)	23.29	23.08	26.84	34.24	47.43	45.96	39.45	68.38	87.53	83.83
Fixed Assets (Crs)	10.16	11.18	11.49	11.93	13.76	14.87	14.87	15.18	16.31	17.04
Cash Conversion Cycle	121	144	161	143	113	118	159	124	105	96.80
Inventory Days	49.80	62.75	68.44	57.98	46.22	50.40	69.59	54.17	43.47	36.58
Days Receivable	81.54	89.44	96.70	92.87	76.28	81.37	102	72.37	61.93	62.98
Days Payable	9.85	7.77	4.34	7.94	9.04	14.04	12.21	2.86	0.42	2.77
Debt to Equity Ratio	0.16	0.26	0.21	0.25	0.25	0.11	0.22	0.36	0.11	0.04
Total Debt (Crs)	3.17	5.34	4.47	5.47	5.66	2.46	5.47	9.56	3.18	1.30
Shareholders Equity (Crs)	19.74	20.66	21.02	21.84	22.81	23.27	24.47	26.43	29.42	32.59
Free Cash Flow/Sales (%)	-27.72	-4.37	-3.00	-2.16	-0.63	7.09	-6.15	-6.45	7.29	4.22
Free Cash Flow(est) (Crs)	-6.46	-1.01	-0.81	-0.74	-0.30	3.26	-2.42	-4.41	6.38	3.53
Net Sales (Crs)	23.29	23.08	26.84	34.24	47.43	45.96	39.45	68.38	87.53	83.83
Profitability Ratios
Gross Margin (%)	29.28	33.69	31.96	25.67	24.51	27.41	23.48	19.02	19.90	21.63
Op Profit Margin (%)	8.46	9.07	7.85	3.93	5.63	2.63	5.79	3.90	4.41	4.87
Operating Profit (Crs)	2.52	2.88	2.73	2.23	3.27	2.13	3.13	3.92	5.31	5.13
Net Sales (Crs)	23.29	23.08	26.84	34.24	47.43	45.96	39.45	68.38	87.53	83.83
Net Profit Margin (%)	4.03	4.36	3.17	2.47	2.15	1.12	3.44	2.99	3.43	3.82
Net Profit (Crs)	0.94	1.01	0.85	0.85	1.02	0.51	1.36	2.05	3.01	3.20
Net Sales (Crs)	23.29	23.08	26.84	34.24	47.43	45.96	39.45	68.38	87.53	83.83
ROCE (%)	9.61	9.90	8.84	7.02	10.56	5.27	9.44	11.86	15.22	12.99
EBIT (Crs)	1.92	2.08	1.91	1.55	2.45	1.25	2.38	3.25	4.63	4.34
Capital Employed (Crs)	19.97	20.99	21.55	22.08	23.21	23.72	25.27	27.36	30.39	33.42
Return on Assets (%)	3.72	3.63	3.11	2.90	3.31	1.81	4.15	5.35	8.68	8.63
Net Profit (Crs)	0.94	1.01	0.85	0.85	1.02	0.51	1.36	2.05	3.01	3.20
Total Assets (Crs)	25.26	27.77	27.41	29.23	30.81	28.41	32.65	38.28	34.63	37.13
ROIC (%)	5.01	4.44	3.72	3.20	4.72	0.94	4.27	5.45	7.61	8.10
Op Profit after Taxes (Crs)	0.87	0.77	0.77	0.68	1.07	0.22	1.03	1.46	2.29	2.54
Invested Capital (Crs)	17.28	17.23	20.82	21.10	22.61	23.21	24.16	26.85	30.07	31.33
ROE (%)	4.76	4.87	4.05	3.88	4.47	2.21	5.54	7.74	10.22	9.83
Net Profit Margin (%)	4.03	4.36	3.17	2.47	2.15	1.12	3.44	2.99	3.43	3.82
Asset Turnover ratio	0.92	0.83	0.98	1.17	1.54	1.62	1.21	1.79	2.53	2.26
Equity Multiplier	1.28	1.34	1.30	1.34	1.35	1.22	1.33	1.45	1.18	1.14
Adjusted EPS	0.30	0.32	0.27	0.27	0.33	0.17	0.44	0.66	0.97	1.03
Valuation Ratios
P/E	52.54	25.41	26.10	20.18	12.82	11.97	9.26	12.05	12.32	21.26
Price to Book	2.68	1.24	1.06	0.78	0.57	0.26	0.51	0.93	1.26	2.09
EV/EBITDA	19.75	9.70	9.52	9.69	5.55	3.82	5.39	8.60	7.52	13.13
Dividend Yield (%)	0.62	1.22	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Quarterly Results

Rasi Electrodes Ltd.
Mahavir Industries
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Royal Arc Electrodes
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In Rs. Cr.	Dec'22	Mar'23	Jun'23	Sep'23	Dec'23	Mar'24	Jun'24	Sep'24	Dec'24	Mar'25
Net Sales	20.67	22.87	18.80	21.55	20.75	22.74	21.25	20.63	19.33	20.23
Operating Expenses	19.68	22.06	18.13	20.19	19.82	21.61	19.92	19.39	18.99	19.42
Increase/Decrease in Stock	-0.64	0.08	-0.22	0.53	-0.37	-0.45	0.29	0.67	0.18	0.12
Raw Material	17.16	18.55	14.74	16.26	15.34	16.72	16.73	15.65	15.47	15.60
Employee Cost	1.12	1.15	1.04	1.04	1.23	1.21	1.14	1.15	1.27	1.29
Selling and Distribution Expenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Electricity, Power & Fuel Cost	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Gen_AdminExpenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Miscellaneous Expenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Profit	0.99	0.82	0.67	1.35	0.93	1.13	1.33	1.24	0.34	0.81
Other Income	0.25	0.54	0.27	0.06	0.28	0.44	0.07	0.29	0.25	0.26
Interest	0.09	0.13	0.07	0.01	0.06	0.04	0.04	0.03	0.04	0.03
PBDT	1.16	1.22	0.87	1.40	1.14	1.53	1.35	1.51	0.54	1.04
Depreciation and Amortization	0.17	0.17	0.15	0.15	0.15	0.33	0.20	0.20	0.20	0.07
Profit Before Tax	0.99	1.05	0.72	1.25	0.99	1.20	1.16	1.31	0.34	0.97
Tax	-0.00	0.37	0.16	0.32	0.25	0.23	0.06	0.51	0.17	0.30
Profit After Tax	0.99	0.68	0.56	0.93	0.74	0.97	1.09	0.80	0.17	0.67
Exceptional Items	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Profit	0.99	0.68	0.56	0.93	0.74	0.97	1.09	0.80	0.17	0.67
Quarterly Ratios
EPS	0.32	0.22	0.18	0.30	0.24	0.31	0.35	0.26	0.06	0.21
Operating Profit Margin	4.81	3.57	3.57	6.28	4.46	4.96	6.26	6.00	1.74	3.99
Net Profit Margin	4.80	2.97	2.98	4.32	3.58	4.27	5.14	3.89	0.90	3.30

Reverse DCF

Earnings

Discount Rate (%)

Terminal Multiple

5 YEAR

10 YEAR

20 YEAR

30.20%

Implied Growth Rate over a 5 year period*

10.00%

Implied Growth Rate over a 10 year period*

3.90%

Implied Growth Rate over a 20 year period*

*Implied Growth calculated using Newton-Raphson method.

Learn how to use Reverse DCF

FAQs on Rasi Electrodes Ltd. Financials

How strong is Rasi Electrodes balance sheet?

Balance sheet of Rasi Electrodes is strong.
It shouldn't have solvency or liquidity issues.

Is the debt of Rasi Electrodes increasing or decreasing?

The net debt of Rasi Electrodes is decreasing.
Latest net debt of Rasi Electrodes is -₹4.11 Crs as of Mar-25.
This is less than Mar-24 when it was -₹2.84 Crs.

Is the profitablity of Rasi Electrodes improving?

The profit is oscillating.
The profit of Rasi Electrodes is ₹2.74 Crs for TTM, ₹3.2 Crs for Mar 2024 and ₹3.01 Crs for Mar 2023.

Does Rasi Electrodes pay decent dividends?

The company seems to be paying a very low dividend.
Investors need to see where the company is allocating its profits.
Rasi Electrodes latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%

How has Rasi Electrodes allocated its funds?

Companies resources are majorly tied in miscellaneous assets

View FAQ's On Shareholding

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Rasi Electrodes Ltd.

Rasi Electrodes Ltd.

Has the share price of Rasi Electrodes grown faster than its competition?

Is Rasi Electrodes stock expensive?

How strong is Rasi Electrodes balance sheet?

Is the debt of Rasi Electrodes increasing or decreasing?

Is the profitablity of Rasi Electrodes improving?

Does Rasi Electrodes pay decent dividends?

How has Rasi Electrodes allocated its funds?

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