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Swing Capital

Rhetan TMT Ltd

NSE: RHETAN BSE: 543590

Rhetan TMT Ltd (RHETAN) is a Diversified company listed on NSE: RHETAN | BSE: 543590. With a market cap of ₹2,216 Cr and ROCE of 10.9%, ROE of 10.2%, it operates in the Indian Diversified sector.

₹27.8
52W: ₹14.5 — ₹31.5
PE 215 · Book ₹1.36 · +1944% vs book
Market Cap₹2,216 Cr
Stock P/E215Price to Earnings
ROCE10.9%Return on Capital
ROE10.2%Return on Equity
Div. Yield0%Face Value ₹1

Strengths

  • +Company has delivered good profit growth of 140% CAGR over last 5 years

Weaknesses

  • −Stock is trading at 19.1 times its book value
  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −The company has delivered a poor sales growth of -14.0% over past five years.
  • −Company has a low return on equity of 6.17% over last 3 years.
  • −Company might be capitalizing the interest cost
  • −Earnings include an other income of Rs.8.52 Cr.
  • −Company has high debtors of 365 days.
  • −Working capital days have increased from 835 days to 1,409 days

Shareholding Pattern

Promoters62.11%
FIIs0.86%
DIIs0%
Public37.01%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters62.11%62.11%62.11%62.11%62.11%62.11%62.11%62.11%
FIIs0%0.15%▲0.10%▼0.10%0%0%0.63%▲0.60.86%▲0.2
DIIs0%0%0%0%0%0%0%0%
Public37.88%37.72%▼0.237.88%▲0.237.88%37.89%▲0.037.87%▼0.037.24%▼0.637.01%▼0.2

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales12.1117.8919.354.956.386.495.044.766.158.49
Expenses10.2916.5717.71.824.159.514.433.663.765.95
Operating Profit1.821.321.653.132.23-3.020.611.12.392.54
OPM %15.03%7.38%8.53%63.23%34.95%-46.53%12.1%23.11%38.86%29.92%
Net Profit1.030.960.812.271.390.480.762.874.452.22
EPS ₹0.010.010.010.030.020.010.010.040.060.03

AI Insights

Revenue Trend

Mar 2026 revenue at ₹24Cr, down 35.1% YoY. OPM at 27%.

Debt Position

Borrowings at ₹42Cr. Debt-to-equity ratio: 1.45x. High leverage — monitor closely.

Capex Cycle

CWIP at ₹6Cr (38% of fixed assets). Significant capex underway — growth runway building.

Institutional Flow

DIIs: 0% (+0.00pp change). FIIs: 0.86% (+0.86pp change). Promoters hold 62.11%.

Margin & Efficiency

ROCE improving from 0% (Mar 2011) to 11% (Mar 2026). Working capital days: 1409.

Valuation

PE 215x with 10.9% ROCE. Price is 1944% above book value of ₹1.36. Dividend yield: 0%.

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