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Swing Capital

Raghav Productivity Enhancers Ltd

NSE: RPEL BSE: 539837

RPEL is engaged in manufacturing of quartz based ramming mass, quartz powder, and tundish board. It sells its products under the brand name of “Raghav”. [1]

₹866
52W: ₹561 — ₹1066
PE 136 · Book ₹44.4 · +1850% vs book
Market Cap₹3,977 Cr
Stock P/E136Price to Earnings
ROCE19.8%Return on Capital
ROE15.2%Return on Equity
Div. Yield0.12%Face Value ₹10

Strengths

  • +Company is almost debt free.

Weaknesses

  • −Stock is trading at 19.4 times its book value
  • −Working capital days have increased from 199 days to 297 days

Shareholding Pattern

Promoters62.91%
FIIs0.36%
DIIs0%
Public36.73%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters62.92%62.92%62.92%62.92%62.91%▼0.062.91%62.91%62.91%
FIIs0.04%0.01%▼0.00.05%▲0.00.18%▲0.10.14%▼0.00.15%▲0.00.11%▼0.00.36%▲0.3
DIIs0%0%0%0%0%0%0%0%
Public37.04%37.08%▲0.037.03%▼0.036.91%▼0.136.96%▲0.136.94%▼0.036.98%▲0.036.73%▼0.3

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales27.3331.528.9526.3631.328.7731.8622.9528.2831.23
Expenses18.2922.2721.5120.0523.5621.1223.3116.9519.7321.08
Operating Profit9.049.237.446.317.747.658.5568.5510.15
OPM %33.08%29.3%25.7%23.94%24.73%26.59%26.84%26.14%30.23%32.5%
Net Profit6.336.685.354.675.775.66.679.056.357.1
EPS ₹1.381.461.171.021.261.221.451.971.381.55

AI Insights

Revenue Trend

Mar 2026 revenue at ₹114Cr, down 0.9% YoY. OPM at 29%.

Debt Position

Borrowings at ₹0Cr. Debt-to-equity ratio: 0.00x. Healthy balance sheet.

Capex Cycle

CWIP at ₹2Cr (7% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 0% (+0.00pp change). FIIs: 0.36% (+0.36pp change). Promoters hold 62.91%.

Margin & Efficiency

ROCE improving from 12% (Mar 2015) to 20% (Mar 2026). Working capital days: 297.

Valuation

PE 136x with 19.8% ROCE. Price is 1850% above book value of ₹44.4. Dividend yield: 0.12%.

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