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Rishabh Instruments Ltd share Price Today

Company details

434.15
448.05
380.00
635.40
6M Return -25.19%
1Y Return -1.66%
Mkt Cap.(Cr) 1,663.36
Volume 110,959
Div Yield 0.00%
OI
-
OI Chg %
-
Volume 110,959

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Electrical Equipment/Products company Rishabh Instruments announced Q3FY24 & 9MFY24 results:

Financial Performance Overview

  • Revenue Growth: Revenue increased by 19% YoY in Q3FY24 to Rs 1,593 million and for 9MFY24, it rose by 30% to Rs 5,118 million.
  • Gross Margin: Gross margin remained stable in Q3FY24 at 54.8% compared to 54.7% in Q3FY23. For 9MFY24, there was a slight decline to 56.8%.
  • Adjusted EBITDA: Adjusted EBITDA showed a decrease of 40% YoY in Q3FY24 at Rs 137 million. However, for 9MFY24, it increased by 42% to Rs 835 million.
  • Profit After Tax (PAT): PAT fell by 59% YoY in Q3FY24 to Rs 73 million. On the other hand, for 9MFY24, PAT increased by 9% to Rs 376 million.

Business Segment Performance

  • Standalone Business: The standalone business showed a marginal increase in revenue in Q3FY24 to Rs 458 million from Rs 457 million in Q3FY23. The 9MFY24 revenue grew by 23% YoY to Rs 1,655 million.
  • Lumel (SA): Recorded a significant revenue increase of 37% YoY in Q3FY24 to Rs 485 million and saw a 43% growth to Rs 1,336 million for 9MFY24.
  • Lumel (Alucast): Revenue for Q3FY24 rose by 16% YoY to Rs 589 million, and for 9MFY24, there was a 29% increase to Rs 1,981 million.

Product and Geographic Expansion

  • Product Development: Around 15 new products were added from the company's R&D centers, which contributed approximately 10% to the topline growth.
  • Geographic Revenue Increase: Notable revenue growth is seen from Europe, Poland, and the USA, with a 40% revenue growth in Europe for 9MFY24, a 32% increase from Poland, and a 40% rise from the USA.

Business Outlook & Strategy

  • Operational Efficiency: The company remains focused on enhancing operational efficiency and improving working capital days, which stood at 118 for 9MFY24.
  • Market Penetration: There is a strategic focus to grow market share and penetrate new markets to broadening the customer base, considering the global infrastructure growth.

Commenting on the results, Dinesh Musalekar, CEO of Rishabh Instruments, stated, “During 9MFY24, we achieved a growth of 30% YoY in Revenues to Rs 5,118 million which reinforces the demand for our products both in Electrical and Diecasting business globally as we continue to see top-line growth in all the companies and all the geographies despite a slowdown in major economies across the globe.

The margins and bottom line for our Electronics business have been increasing quite significantly due to the cost optimization efforts to reduce our manufacturing cycle times and cost of materials. However, in the Lumel (Alucast) Aluminium Diecasting business, the profits are low due to the launch of technically challenging projects for the automotive industry in the EV space. These are long-term multi-year contracts and are expected to generate higher revenues and profits once these projects are stabilized over the next few quarters.

During 9MFY24, we have added around 15 new products designed and developed from our R&D Centers in Nashik, Zielona Gora (Poland), and Shanghai (China) in line with our commitment to continuously innovate and introduce new products. We have ~20 products in the pipeline to be added by FY25. These new products added in the last 2 years contributed to around 10% incremental growth to our topline. In our pursuit of enhancing the customer experience, we are actively investing in our R&D facilities to innovate and design, develop, and manufacture products fully in-house. Our primary objective is to enhance our product offerings, leveraging our in-house capabilities to achieve a distinct cost competitiveness. We hold a positive outlook on exploring untapped markets to enhance our existing market share as well as penetrating new markets to broaden our customer base. We have witnessed a positive response from existing customers on the back of our quality norms and this gives us confidence to tap higher market share across geographies. Our operations in India are witnessing favorable momentum, propelled by substantial infrastructure investments from both the public and private sectors.

Despite the economic slowdown in European regions, its impact has been minimal in our industry on the back of higher spending commitments by the government towards clean energy transition. Furthermore, our China business saw strategic introduction of high-quality products which eventually will help us to enhance our local market penetration. The products manufactured by our Chinese subsidiary V&A have high demand in many geographies specifically in Europe and the US.

We remain highly committed to fostering steady growth over the years through our unwavering dedication to innovation and providing end-to-end solutions to our customers.”

Result PDF

View Other Company Results

Rishabh Instruments Ltd shares SWOT Analysis

Strengths (5)

  • Rising Net Cash Flow and Cash from Operating activity
  • Company with Low Debt
  • Strong cash generating ability from core business - Improving Cash Flow from operation for last 2 years

Weakness (7)

  • Negative profit growth, promoters decreasing shareholding QoQ
  • MFs decreased their shareholding last quarter
  • Inefficient use of capital to generate profits - RoCE declining in the last 2 years

Opportunity (0)

Data not found

Threats (2)

  • Promoter decreasing their shareholding
  • High PE (PE > 40)

Resistance and support

R1 444.5
R2 453.2
R3 458.4
Pivot

439.33

S1 430.6
S2 425.4
S3 416.7
EMA SMA
439.8
454.0
469.0
-
440.4
454.3
481.7
-
Delivery and volume
CLIENT NAME DEAL TYPE ACTION DATE AVG. PRICE QUANTITY EXCHANGE
ASHIKA GLOBAL SECURITIES PRIVATE LIMITED Bulk Purchase 2024-03-26 420.08 216000 NSE
YADUKA FINANCIAL SERVICES LIMITED Bulk Sell 2024-03-26 420.07 216000 NSE
YADUKA FINANCIAL SERVICES LIMITED Bulk Purchase 2024-03-21 428.9 220500 NSE
Name Category Shares
NARENDRA JOHARIMAL GOLIYA PROMOTER 42.61%
Anushree Family Trust - NARENDRA GOLIYA (Trustee), Asha Goliya (Trustee) PROMOTER 9.43%
Rishabh Family Trust - NARENDRA GOLIYA (Trustee), Asha Goliya (Trustee) PROMOTER 9.43%
ASHA NARENDRA GOLIYA PROMOTER 7.86%
RISHABH NARENDRA GOLIYA PROMOTER 0.92%

FINANCIALS

Sales
Operating Profit
Profit after Tax
Equity
Reserves and Surplus
Debt
Sales
Operating Profit
Profit after Tax
PE
Debt/Equity
P BV

Rishabh Instruments Ltd Stocks COMPARISON

Financials( in Cr) Rishabh Instruments Ltd Siemens Ltd ABB India Ltd Bharat Heavy Electricals Ltd CG Power & Industrial Solutions Ltd
Price 435.80 7,538.00 8,544.00 297.05 675.45
% Change -2.06 -2.46 -3.64 -2.80 -1.54
Mcap Cr 1,663.36 268,443.26 181,054.20 103,434.68 103,163.71
Revenue TTM Cr 569.54 19,553.80 10,446.52 23,364.94 6,972.54
Net Profit TTM Cr 49.69 1,961.90 1,242.05 477.39 962.97
PE TTM 42.06 114.96 123.75 366.67 120.79
1 Year Return -1.66 97.97 97.43 240.07 85.31
ROCE 13.74 20.44 30.39 2.44 40.59
ROE 13.40 15.89 22.82 1.54 34.91
INSIDER & INSTITUTIONAL ACTIVITY

Equity Capital: 390.21 Cr FV: 10.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 33,341.08 2,221.69
LAST 3M 102,344.89 -28,029.53
LAST 6M 175,303.31 -12,219.28
LAST 12M 288,302.63 96,022.29

Rishabh Instruments Ltd Information

Stock PE (TTM)
42.06
Promoter Holding
70.25%
Book Value
146.2702
ROCE
13.74%
ROE
13.4%
Description
  • Rishabh Instruments Ltd. was incorporated as a Private Limited Company with the name "Rishabh Instruments Private Limited", under the Companies Act, 1956, dated October 6, 1982, granted by the ROC. Pursuant to conversion of the Company into Public Limited on September 8, 2022, name of the Company was changed to "Rishabh Instruments Limited" and the RoC issued a fresh certificate of incorporation on September 22, 2022. The Company is a global energy efficiency solution company focused on electrical automation, metering and measurement, precision engineered products, with diverse applications across industries including power, automotive and industrial sectors. The Company supply a wide range of electrical measurement and process optimization equipment, and are vertically integrated player involved in designing, developing, manufacturing and supplying electrical automation devices; metering, control and protection devices; portable test and measuring instruments; and solar string inverters. In addition, it manufacture and supply aluminium high pressure die casting through Subsidiary, Lumel Alucast. It also provide certain manufacturing services which include mould design and manufacturing, EMI/EMC testing services, Electronic Manufacturing Services, and software solutions (e.g., MARC). Electrical automation products include energy management software, transducers and isolators, paperless recorders (chartless) and dataloggers, temperature and humidity recorders, I/O converters and temperature controllers among others. Their metering, control and protection devices consist of analog panel meters, rotary cam switches, current transformers, shunts, digital panel meters, multifunction meters, multi-load monitoring meters, power quality meters, power quality analyzers, power factor controllers, LV and MV relays, genset controllers, synchronizing units, power supply and battery chargers among others. Under portable test and measuring instruments portfolio, the Company manufacture various categories of digital multimeters, digital clamp meters, digital insulation testers, digital earth testers and environmental products such as ultrasonic level/thickness meter, digital luxmeter, non-contact tachometers, DB meter, submarine cable fault locator among others. Apart from these, it also manufacture solar string inverters in India designed for use in photovoltaic installations connected to the grid. In terms of aluminium high pressure die castings, we serve global automation, automotive and other industries with our inhouse designed tools (which include die casting moulds and CNC fixtures) and various post casting processes such as high precision machining, surface treatment and heat treatment. The Company provide complete aluminium high pressure die casting solutions for customers requiring close tolerance fabrication such as automotive compressor manufacturers and automation high precision flow meters manufacturers, machining and finishing of precision components. The Company is diversified in terms of end users of products, serving industrial (FMCG, pharmaceutical, cement, steel, railways), power (generation, transmission and distribution, renewable energy, oil and gas), OEM industries (transformer, motor, cable and special machine manufacturers) and new applications (data centre, laboratories, semiconductors, consumer electronics, and building automation). The Company was founded in 1982 by Narendra Joharimal Goliya who is the Promoter. In 1983, the Company entered into an agreement for technical assistance with a Germany based company. In 1993, it entered into a distributorship agreement with Larsen & Toubro Limited. In 1997, it entered into an agreement for technical assistance with M/s Gossen - Metrawatt GmbH. In 1998, the Company increased Manufacturing Facility I at Nashik. In 2002, it entered into a technology transfer agreement with a Germany based company. In 2008, it entered into an agreement with a company based out of United Kingdom for production of audio / video recording equipments. The Company acquired Lubuskie Zaklady Aparat�w Elektrycznych "Lumel" Sp�lka akcyjna in Fiscal 2012. Lumel supplied aluminium die casting to the automotive industry. In 2016, it entered into an intellectual property agreement with an Italy based company wherein it assigned intellectual property rights in respect of APV centralised inverters, APV cabinets, APV-S string inverters and string boxes. In 2020, Lumel SA built a manufacturing facility for electronics manufacturing and further acquired a division of product from Relpol S.A. In 2021, the Company received M-SIPs approval from the Government of India. The Company has filed Draft Prospectus and is planning to raise capital from Public by raising Rs.75 crores through Fresh Issue and 9417500 Equity Shares through Offer For Sale.

No Data Found

AGM Date (Month) :
Face Value Equity Shares : 10
Market Lot Equity Shares : 1
BSE Code : 543977
NSE Code : RISHABH
Book Closure Date (Month) :
BSE Group : B
ISIN : INE0N2P01017

FAQ’s on Rishabh Instruments Ltd Shares

You can buy Rishabh Instruments Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Rishabh Instruments Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of Jun 19, 2024 03:58 PM the closing price of Rishabh Instruments Ltd was Rs.435.80.

The latest PE ratio of Rishabh Instruments Ltd as of Jun 19, 2024 03:58 PM is 42.06

The latest PB ratio of Rishabh Instruments Ltd as of Jun 19, 2024 03:58 PM is 0.34

The 52-week high of Rishabh Instruments Ltd share price is Rs. 635.40 while the 52-week low is Rs. 380.00

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of Jun 19, 2024 03:58 PM, the market cap of Rishabh Instruments Ltd stood at Rs. 1,663.36.

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