R M Drip & Sprinklers Systems Ltd

R M Drip & Sprin Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

R M Drip & Sprinklers Systems Ltd

₹ 165 6.45%
26 Jul - close price
Company website NSE - SME: RMDRIP
About

Incorporated in 1996, R M Drip & Sprinklers Systems Ltd manufactures micro irrigation systems[1]

Key Points

Business Overview:[1][2]
Company designs and manufactures micro irrigation equipment and components. It assists farmers in designing and installation of Sprinkler and Drip Irrigations systems. It is also Original Equipment supplier to many irrigation companies and various irrigation sub assembly manufacturers. Company has a dealer network in Maharashtra, Madhya Pradesh, Gujarat, Karnataka and Uttar Pradesh, Bihar and Jharkhand with Greaves Cotton Ltd

Website NSE - SM
  • Market Cap ₹ 412 Cr.
  • Current Price ₹ 165
  • High / Low ₹ 165 / 41.0
  • Stock P/E 76.2
  • Book Value ₹ 23.6
  • Dividend Yield 0.00 %
  • ROCE 36.8 %
  • ROE 42.5 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 24.5% CAGR over last 5 years
  • Debtor days have improved from 324 to 108 days.
  • Company's working capital requirements have reduced from 323 days to 117 days

Cons

  • Stock is trading at 7.01 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Promoter holding has decreased over last quarter: -9.11%
  • Promoter holding is low: 13.9%
  • Company has a low return on equity of 11.6% over last 3 years.
  • Earnings include an other income of Rs.3.15 Cr.

* 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: Plastic products Industry: Plastics Products

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Half Yearly Results

Figures in Rs. Crores

Sep 2019 Mar 2020 Sep 2020 Mar 2021 Sep 2021 Mar 2022 Sep 2022 Mar 2023 Sep 2023 Mar 2024
7.35 15.89 3.34 14.87 5.63 12.29 3.79 7.16 8.34 41.92
6.20 13.18 3.77 12.47 6.54 10.58 6.59 5.31 7.06 37.73
Operating Profit 1.15 2.71 -0.43 2.40 -0.91 1.71 -2.80 1.85 1.28 4.19
OPM % 15.65% 17.05% -12.87% 16.14% -16.16% 13.91% -73.88% 25.84% 15.35% 10.00%
0.29 0.20 0.29 0.14 0.29 0.41 0.00 2.86 0.01 3.14
Interest 0.55 0.41 0.52 0.43 0.46 0.46 0.43 0.51 0.15 0.20
Depreciation 0.69 0.69 0.56 0.60 0.59 0.52 0.44 0.45 0.56 0.58
Profit before tax 0.20 1.81 -1.22 1.51 -1.67 1.14 -3.67 3.75 0.58 6.55
Tax % 0.00% -43.65% 0.00% 11.92% 35.93% -16.67% 0.00% 0.00% 0.00% 26.26%
0.20 2.61 -1.22 1.33 -2.27 1.33 -3.66 3.75 0.58 4.83
EPS in Rs 0.30 3.90 -1.82 1.99 -3.39 1.99 -5.47 5.61 0.46 3.20
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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
2.54 3.07 5.32 11.73 28.34 42.63 22.29 23.24 18.21 17.92 10.95 50.27
2.19 2.79 5.22 10.36 24.98 37.90 25.75 19.37 16.23 17.11 11.89 44.80
Operating Profit 0.35 0.28 0.10 1.37 3.36 4.73 -3.46 3.87 1.98 0.81 -0.94 5.47
OPM % 13.78% 9.12% 1.88% 11.68% 11.86% 11.10% -15.52% 16.65% 10.87% 4.52% -8.58% 10.88%
0.03 0.02 0.76 0.02 0.38 0.27 0.84 0.48 0.43 0.69 2.87 3.15
Interest 0.15 0.15 0.16 0.50 0.87 1.18 1.33 0.96 0.96 0.92 0.96 0.35
Depreciation 0.12 0.11 0.23 0.41 0.93 1.55 1.47 1.38 1.16 1.11 0.89 1.14
Profit before tax 0.11 0.04 0.47 0.48 1.94 2.27 -5.42 2.01 0.29 -0.53 0.08 7.13
Tax % 36.36% 25.00% 46.81% 33.33% 29.90% 31.28% 0.37% -39.30% 62.07% 77.36% 62.50% 24.12%
0.08 0.03 0.24 0.32 1.36 1.57 -5.44 2.80 0.11 -0.94 0.03 5.41
EPS in Rs 80.00 30.00 5.00 2.29 5.71 2.35 -8.13 4.19 0.16 -1.41 0.04 3.59
Dividend Payout % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years: 32%
5 Years: 18%
3 Years: 40%
TTM: 359%
Compounded Profit Growth
10 Years: 68%
5 Years: 25%
3 Years: 266%
TTM: 17933%
Stock Price CAGR
10 Years: %
5 Years: 63%
3 Years: 96%
1 Year: 267%
Return on Equity
10 Years: 6%
5 Years: 12%
3 Years: 12%
Last Year: 42%

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
Equity Capital 0.01 0.01 0.48 1.40 2.38 6.69 6.69 6.69 6.69 6.69 6.69 15.08
Reserves 0.36 0.39 0.80 1.12 1.46 9.49 4.05 6.85 6.96 6.02 6.05 20.43
1.26 1.33 2.60 4.15 12.24 9.92 8.70 8.29 8.77 7.81 7.56 5.81
0.61 0.55 1.32 3.63 7.70 6.36 7.50 5.40 6.39 10.13 8.54 25.46
Total Liabilities 2.24 2.28 5.20 10.30 23.78 32.46 26.94 27.23 28.81 30.65 28.84 66.78
0.74 0.69 3.07 2.74 8.18 8.17 7.29 6.29 6.97 5.88 4.97 10.07
CWIP 0.02 0.00 0.00 0.24 0.14 0.09 0.18 0.00 0.00 0.00 0.00 0.03
Investments 0.03 0.03 0.03 0.04 0.11 0.11 0.06 0.06 0.06 0.06 0.00 0.00
1.45 1.56 2.10 7.28 15.35 24.09 19.41 20.88 21.78 24.71 23.87 56.68
Total Assets 2.24 2.28 5.20 10.30 23.78 32.46 26.94 27.23 28.81 30.65 28.84 66.78

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
0.01 0.19 0.60 0.98 2.51 -6.48 1.55 1.76 2.87 0.95 -4.24 -13.72
-0.39 -0.02 -2.23 -2.20 -6.29 -1.40 0.12 0.29 -1.43 0.61 2.93 -6.19
0.36 -0.09 1.68 1.86 4.53 7.53 -2.36 -2.15 -0.60 -2.60 1.11 20.38
Net Cash Flow -0.01 0.07 0.05 0.63 0.74 -0.36 -0.69 -0.10 0.85 -1.04 -0.20 0.48

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 68.98 87.98 75.47 90.86 86.03 134.77 207.31 224.28 298.05 367.44 497.00
Inventory Days 197.92 109.29 54.96 78.92 138.79 85.35 76.22 100.38 117.43 131.21 139.59
Days Payable 133.66 76.30 76.73 121.49 77.05 55.42 80.24 102.92 117.00 187.44 263.36
Cash Conversion Cycle 133.24 120.97 53.69 48.29 147.78 164.70 203.29 221.74 298.48 311.21 373.23
Working Capital Days 116.40 109.38 53.52 31.43 85.13 137.76 182.42 217.84 285.63 313.26 539.00
ROCE % 11.31% 9.27% 18.58% 24.70% 16.36% -17.96% 14.39% 5.65% 1.82% 5.10%

Shareholding Pattern

Numbers in percentages

1 Recently
Mar 2020Sep 2020Mar 2021Sep 2021Mar 2022Sep 2022Mar 2023Apr 2023Sep 2023Dec 2023Mar 2024Jun 2024
61.00% 61.00% 60.23% 60.23% 60.29% 59.36% 51.91% 33.79% 27.60% 22.97% 22.97% 13.86%
39.00% 39.01% 39.78% 39.78% 39.72% 40.64% 48.09% 66.21% 72.40% 77.03% 77.03% 86.14%
No. of Shareholders 3922893013323413623533653573453071,071

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