Rapicut Carbides Ltd

₹ 108 0.05%

22 Nov 10:31 a.m.

About

Incorporated in 1977, Rapicut Carbides Ltd manufactures Tungsten Carbide products used in metal cutting, mining, wear parts and various other industries^[1]

Key Points

Product Profile:^[1]
a) Mining Products:^[2]
Drill Steel Inserts, Octagonal and Square Inserts, Tungsten Carbide Buttons, Bucket Wheel Excavation (BWE) Inserts, Carset/Cross Bits Inserts, Flow Beans/ Nozzles, etc.
b) Wear Parts:^[3]
Tungsten Carbide Seal Rings, Pellets/Nibs, Jute Eyelets, etc.
c) Metal Cutting:^[4]
2000 different varieties of standard tips, apart from custom-built special tips
d) Intermediates:^[5]
Tungsten Metal Powder, Tungsten Carbide Powder, Fused Tungsten Carbide Powder, Ready to Press Powder, etc.
e) Finished Product:^[6]
Stem and seat for High Pressure Control Valve, Tungsten Carbide Seat for pneumatic valve, Scarfing tools and Pressure/ Squeeze Rolls for ERW Tube, Forming tools for various Industry. Company supplies Flats, segments, Bushes, Rods, Brazed Tools etc. for various applications

Website BSE

Market Cap ₹ 58.0 Cr.
Current Price ₹ 108
High / Low ₹ 184 / 65.3
Stock P/E
Book Value ₹ 38.8
Dividend Yield 0.00 %
ROCE 4.00 %
ROE 1.94 %
Face Value ₹ 10.0

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Pros

Debtor days have improved from 84.6 to 52.6 days.
Company's working capital requirements have reduced from 168 days to 114 days

Cons

Stock is trading at 2.78 times its book value
Company has low interest coverage ratio.
Company has a low return on equity of -2.99% over last 3 years.
Company might be capitalizing the interest cost

* 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.

Peer comparison

Sector: Capital Goods-Non Electrical Equipment Industry: Engineering

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	9.00	6.85	12.44	8.07	7.59	8.21	15.70	12.28	15.70	15.26	16.92	10.89	8.95
	9.19	6.94	11.94	7.58	8.09	8.56	15.56	12.55	15.52	14.49	16.14	11.34	9.07
Operating Profit	-0.19	-0.09	0.50	0.49	-0.50	-0.35	0.14	-0.27	0.18	0.77	0.78	-0.45	-0.12
OPM %	-2.11%	-1.31%	4.02%	6.07%	-6.59%	-4.26%	0.89%	-2.20%	1.15%	5.05%	4.61%	-4.13%	-1.34%
	0.00	0.00	0.03	0.00	0.00	0.00	0.00	0.06	0.00	0.03	0.02	0.11	0.02
Interest	0.03	0.02	0.06	0.07	0.05	0.08	0.10	0.05	0.12	0.17	0.14	0.09	0.22
Depreciation	0.16	0.17	0.16	0.14	0.15	0.16	0.15	0.14	0.15	0.12	0.12	0.12	0.12
Profit before tax	-0.38	-0.28	0.31	0.28	-0.70	-0.59	-0.11	-0.40	-0.09	0.51	0.54	-0.55	-0.44
Tax %	0.00%	0.00%	132.26%	0.00%	0.00%	0.00%	209.09%	2.50%	11.11%	7.84%	1.85%	3.64%	6.82%
	-0.39	-0.28	-0.11	0.28	-0.70	-0.59	-0.34	-0.40	-0.10	0.46	0.53	-0.57	-0.47
EPS in Rs	-0.73	-0.52	-0.20	0.52	-1.30	-1.10	-0.63	-0.74	-0.19	0.86	0.99	-1.06	-0.88
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Profit & Loss

Figures in Rs. Crores

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	38.93	37.84	38.18	33.22	41.86	41.68	46.16	33.39	28.01	36.14	39.57	60.16	52.02
	32.57	33.33	33.72	29.88	36.66	36.38	41.39	32.64	28.31	36.01	39.81	58.71	51.04
Operating Profit	6.36	4.51	4.46	3.34	5.20	5.30	4.77	0.75	-0.30	0.13	-0.24	1.45	0.98
OPM %	16.34%	11.92%	11.68%	10.05%	12.42%	12.72%	10.33%	2.25%	-1.07%	0.36%	-0.61%	2.41%	1.88%
	-0.08	-0.01	0.04	0.03	0.18	0.05	0.04	0.03	0.02	0.03	0.01	0.12	0.18
Interest	0.44	0.41	0.54	0.44	0.34	0.24	0.23	0.36	0.14	0.13	0.29	0.48	0.62
Depreciation	0.40	0.59	0.65	0.56	0.66	0.81	0.86	0.84	0.79	0.67	0.60	0.53	0.48
Profit before tax	5.44	3.50	3.31	2.37	4.38	4.30	3.72	-0.42	-1.21	-0.64	-1.12	0.56	0.06
Tax %	36.40%	32.86%	33.23%	38.82%	31.96%	26.28%	23.92%	-80.95%	-33.06%	64.06%	20.54%	12.50%
	3.46	2.35	2.22	1.45	2.98	3.16	2.84	-0.08	-0.82	-1.06	-1.35	0.49	-0.05
EPS in Rs	6.41	4.38	4.13	2.70	5.55	5.88	5.29	-0.15	-1.53	-1.97	-2.51	0.91	-0.09
Dividend Payout %	24.86%	27.42%	29.03%	44.44%	27.03%	30.59%	28.36%	0.00%	0.00%	0.00%	0.00%	0.00%

Compounded Sales Growth
10 Years:	5%
5 Years:	5%
3 Years:	29%
TTM:	0%

Compounded Profit Growth
10 Years:	-16%
5 Years:	-32%
3 Years:	36%
TTM:	97%

Stock Price CAGR
10 Years:	9%
5 Years:	23%
3 Years:	28%
1 Year:	39%

Return on Equity
10 Years:	4%
5 Years:	-3%
3 Years:	-3%
Last Year:	2%

Balance Sheet

Figures in Rs. Crores

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	2.15	5.37	5.37	5.37	5.37	5.37	5.37	5.37	5.37	5.37	5.37	5.37	5.37
Reserves	13.57	11.95	13.39	14.06	17.03	18.67	20.16	19.10	18.13	17.09	16.05	16.53	15.47
	0.19	2.58	2.89	1.73	-1.08	1.38	3.36	1.62	0.06	2.17	3.43	1.25	10.38
	9.06	5.03	7.75	4.94	7.05	9.13	6.90	6.59	7.93	7.67	9.27	10.49	5.74
Total Liabilities	24.97	24.93	29.40	26.10	28.37	34.55	35.79	32.68	31.49	32.30	34.12	33.64	36.96
	3.37	4.90	4.90	4.65	5.72	5.36	4.83	5.10	4.48	3.98	4.36	4.59	4.58
CWIP	0.44	0.01	0.00	0.02	0.05	0.00	0.00	0.00	0.00	0.34	0.40	0.00	0.00
Investments	0.04	0.04	0.04	0.02	0.03	0.04	0.05	0.07	0.08	0.11	0.13	0.15	0.15
	21.12	19.98	24.46	21.41	22.57	29.15	30.91	27.51	26.93	27.87	29.23	28.90	32.23
Total Assets	24.97	24.93	29.40	26.10	28.37	34.55	35.79	32.68	31.49	32.30	34.12	33.64	36.96

Cash Flows

Figures in Rs. Crores

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	6.53	1.01	1.75	3.97	6.73	-0.34	-1.11	4.20	4.86	-4.52	-0.29	2.90
	-1.56	-1.72	-0.45	-0.29	-1.55	-0.36	-0.30	-1.10	-0.27	-0.49	-0.69	-0.35
	-4.91	0.09	-1.18	-2.80	-5.32	0.56	0.85	-3.07	-1.70	1.98	1.03	-2.60
Net Cash Flow	0.06	-0.62	0.11	0.88	-0.15	-0.14	-0.55	0.03	2.90	-3.03	0.04	-0.05

Ratios

Figures in Rs. Crores

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	38.16	42.63	62.71	56.80	35.05	59.81	70.30	73.57	92.13	105.14	96.12	52.60
Inventory Days	213.41	198.13	234.27	245.30	198.38	294.73	249.12	298.81	284.13	223.94	213.94	152.96
Days Payable	76.31	36.76	71.87	34.05	57.67	80.22	51.25	61.60	107.64	71.24	80.60	63.82
Cash Conversion Cycle	175.26	204.00	225.11	268.06	175.77	274.33	268.17	310.78	268.62	257.84	229.46	141.74
Working Capital Days	102.57	135.14	155.25	166.57	126.17	172.25	191.99	225.41	202.37	203.20	186.24	114.06
ROCE %	37.17%	22.01%	18.68%	13.17%	21.66%	19.43%	14.51%	-0.22%	-4.31%	-2.12%	-3.35%	4.00%

Shareholding Pattern

Numbers in percentages

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	33.39%	37.79%	37.79%	39.02%	40.10%	40.28%	40.46%	40.46%	40.46%	40.46%	40.46%	40.46%
	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.01%	0.01%	0.01%	0.01%
	66.59%	62.18%	62.18%	60.96%	59.86%	59.69%	59.51%	59.52%	59.54%	59.53%	59.53%	59.53%
No. of Shareholders	3,685	3,761	3,711	3,749	3,712	3,689	3,664	3,594	3,535	3,783	3,761	3,950

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	35.26%	32.99%	32.99%	32.31%	33.39%	37.79%	40.28%	40.46%	40.46%
	0.06%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.01%	0.01%
	64.67%	66.98%	66.98%	67.66%	66.59%	62.18%	59.69%	59.53%	59.53%
No. of Shareholders	4,488	4,633	4,362	4,214	3,993	3,761	3,689	3,783	3,950

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Rapicut Carbides Ltd

Rapicut Carbides Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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