Riddhi Steel & Tube
Riddhi Steel & Tube
Industrial ProductsKey Fundamentals
SMEIron & Steel ProductsIndustrial ProductsTapetide Score
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Key Insights
Strengths
2- Company has delivered good profit growth of 54.3% CAGR over last 5 years
- Debtor days have improved from 49.2 to 37.6 days.
Weaknesses
4- Stock is trading at 3.49 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 6.95% over past five years.
- Company has a low return on equity of 13.1% over last 3 years.
Growth Rate
Quarterly Results
| Particulars | Mar 2020 | Sep 2020 | Mar 2021 | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 147 | 118 | 210 | 161 | 142 | 161 | 142 | 154 | 174 | 155 | 237 | 247 | 211 |
| Expenses | 139 | 110 | 203 | 152 | 135 | 152 | 134 | 144 | 165 | 145 | 225 | 231 | 198 |
| Operating Profit | 8 | 8 | 7 | 9 | 7 | 9 | 8 | 10 | 9 | 10 | 12 | 16 | 13 |
| OPM % | 5% | 7% | 3.4% | 6% | 5% | 6% | 6% | 6% | 5% | 6% | 5% | 7% | 6% |
| Other Income | 1 | 0 | 1 | 1 | 2 | 1 | 2 | 1 | 2 | 2 | 1 | 2 | 2 |
| Interest | 5 | 5 | 5 | 6 | 6 | 6 | 6 | 6 | 5 | 6 | 6 | 7 | 7 |
| Depreciation | 2 | 2 | 2 | 2 | 2 | 2 | 1 | 2 | 2 | 1 | 2 | 2 | 1 |
| PBT | 1 | 1 | 1 | 2 | 2 | 2 | 3 | 2 | 4 | 5 | 6 | 9 | 6 |
| Tax % | -18% | 26% | 58% | 30% | 42% | 30% | 29% | 0% | 43% | 26% | 26% | 35% | 16% |
| Net Profit | 2 | 1 | 0 | 2 | 1 | 2 | 2 | 2 | 2 | 3 | 4 | 6 | 5 |
| EPS in Rs | 1.33 | 0.72 | 0.33 | 1.25 | 0.75 | 1.25 | 1.49 | 1.98 | 1.89 | 2.72 | 3.4 | 4.9 | 4.32 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 233 | 230 | 235 | 268 | 376 | 291 | 327 | 302 | 303 | 328 | 391 | 458 |
| Expenses | 218 | 214 | 219 | 252 | 357 | 273 | 312 | 286 | 285 | 309 | 369 | 429 |
| Operating Profit | 16 | 16 | 16 | 16 | 19 | 17 | 15 | 17 | 17 | 19 | 22 | 29 |
| OPM % | 7% | 7% | 7% | 6% | 5% | 6% | 4.6% | 6% | 6% | 6% | 6% | 6% |
| Other Income | 0 | 2 | 2 | 1 | 2 | 1 | 2 | 3 | 2 | 3 | 3 | 3 |
| Interest | 9 | 11 | 10 | 9 | 12 | 11 | 11 | 12 | 12 | 12 | 12 | 14 |
| Depreciation | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 3 | 3 | 3 | 3 |
| PBT | 4 | 4 | 4 | 5 | 6 | 4 | 2 | 4 | 5 | 7 | 10 | 16 |
| Tax % | 33% | 34% | 35% | 35% | 14% | 14% | 40% | 36% | 29% | 27% | 26% | 28% |
| Net Profit | 3 | 3 | 3 | 3 | 5 | 3 | 1 | 2 | 3 | 5 | 8 | 11 |
| EPS in Rs | 2.84 | 2.99 | 2.16 | 2.53 | 4.02 | 2.47 | 1.06 | 2 | 2.74 | 3.87 | 6.12 | 9.21 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 6 | 6 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 12 |
| Reserves | 14 | 17 | 26 | 29 | 34 | 37 | 38 | 41 | 44 | 49 | 54 | 61 |
| Borrowings | 75 | 81 | 78 | 83 | 104 | 99 | 107 | 126 | 120 | 132 | 130 | 137 |
| Other Liabilities | 7 | 9 | 12 | 14 | 10 | 9 | 16 | 15 | 11 | 7 | 9 | 6 |
| Total Liabilities | 102 | 112 | 124 | 134 | 155 | 153 | 169 | 190 | 183 | 197 | 201 | 217 |
| Fixed Assets | 19 | 22 | 23 | 26 | 27 | 29 | 30 | 28 | 26 | 24 | 22 | 21 |
| CWIP | 5 | 4 | 3 | 3 | 3 | 3 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 78 | 87 | 98 | 104 | 125 | 121 | 139 | 163 | 157 | 173 | 179 | 196 |
| Total Assets | 102 | 112 | 124 | 134 | 155 | 153 | 169 | 190 | 183 | 197 | 201 | 217 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 6 | 2 | 3 | 12 | 3 | 28 | -3 | -8 | 17 | 9 | 13 | 6 |
| Investing | -2 | -4 | -2 | -6 | -2 | -5 | 1 | 1 | 1 | -1 | 0 | 1 |
| Financing | -5 | 0 | -1 | -7 | -1 | -16 | -3 | 8 | -17 | 1 | -16 | -7 |
| Net Cash Flow | 0 | -2 | 0 | -1 | 1 | 7 | -6 | 1 | 1 | 9 | -4 | 1 |
| Free Cash Flow | 4 | -2 | -1 | 5 | 0 | 22 | -5 | -10 | 16 | 8 | 12 | 4 |
| CFO/OP | 31 | 18 | 28 | 85 | 25 | 162 | -17 | -43 | 107 | 56 | 69 | 34 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 52 | 69 | 71 | 74 | 63 | 72 | 54 | 59 | 75 | 61 | 49 | 38 |
| Inventory Days | 39 | 53 | 50 | 53 | 47 | 42 | 65 | 84 | 83 | 103 | 92 | 109 |
| Days Payable | 1 | 7 | 12 | 15 | 6 | 9 | 16 | 15 | 9 | 3 | 3 | -1 |
| Cash Conversion Cycle | 91 | 116 | 110 | 112 | 104 | 105 | 104 | 129 | 150 | 161 | 139 | 148 |
| Working Capital Days | 32 | 58 | 74 | 68 | 62 | 65 | 94 | 89 | 83 | 70 | 73 | 72 |
| ROCE % | 14% | 15% | 13% | 12% | 13% | 10% | 9% | 9% | 9% | 10% | 12% | 15% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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58 extracted metrics + investor summaries across FY14–FY26.
Documents
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Company Information
Incorporated in 2001, Riddhi Steel and Tube Ltd manufactures ERW mild steel black, galvanized /pre-galvanized round pipes and square/rectangular hollow sections in Ahmedabad for infrastructure, construction, solar, transmission, agriculture, greenhouse and engineering applications.[1]
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