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RITES

RITES NSE

Key Fundamentals

MicrocapCivil ConstructionConstruction
Market Cap
₹9,996 Cr
Volatility
Moderate
P/E Ratio
24.12
EBITDA
₹554 Cr
Return on Equity
15.41%
Debt to Equity
0
Book Value
₹55.79
EPS
₹17.74
52W High
₹280.9
52W Low
₹175

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

3
  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 91.4%

Weaknesses

1
  • The company has delivered a poor sales growth of 4.86% over past five years.

Growth Rate

Revenue Growth
3.94% higher than 3Y
Net Income Growth
6.93% higher than 3Y
Cash Flow Change
47.62% higher than 3Y
ROE
-15.33% lower than 3Y
ROCE
-15.6% higher than 3Y
EBITDA Margin (Avg.)
-18.27% higher than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 44d ago
AI opinion · based on fundamentals
Risk medium

RITES Ltd is a nearly debt-free PSU consultancy firm with a market cap of ₹10,403 Cr trading at a PE of 23x. The company maintains a dividend payout exceeding 100% with a yield of 2.39-3.47%, but has experienced negative 3-year profit CAGR of -9% and a stock price decline of -15% over the past year.

Bull Case 8
  • Company is virtually debt-free, providing financial resilience and flexibility for future project execution
  • Dividend yield of 2.39-3.47% is attractive, supported by a payout ratio of 102% demonstrating shareholder-friendly capital allocation
  • 10-year ROE average of 18% indicates consistent long-term capital efficiency despite recent moderation
  • 5-year stock CAGR of 10% shows reasonable long-term wealth creation track record
  • TTM sales growth has recovered to 9%, reversing the negative 3-year sales CAGR of -3%
  • TTM profit growth of 7% signals a return to positive earnings momentum after a period of decline
  • Price-to-book ratio of 3.91x is reasonable for an asset-light consultancy model with consistent ROE of 15-18%
  • Company has been actively reducing debt, further strengthening its already clean balance sheet
Bear Case 8
  • 3-year compounded profit growth is deeply negative at -9%, indicating sustained earnings deterioration over the medium term
  • Stock has declined -15% over the past 1 year, reflecting weak market sentiment and possible structural concerns
  • 5-year compounded sales growth of only 5% and past-five-year reported growth of 4.86% is significantly below infrastructure sector growth rates
  • 5-year compounded profit CAGR is negative at -1%, meaning the company has failed to grow earnings over a half-decade period
  • ROE has declined from 18% (5-year and 10-year average) to 15% in the last year, suggesting reducing return efficiency
  • PE of 23x appears elevated relative to negative 3-year and 5-year profit growth, implying limited margin of safety
  • 3-year stock CAGR of -2% shows the stock has destroyed value for medium-term holders even before adjusting for inflation
  • Dividend payout ratio exceeding 100% may be unsustainable if earnings do not recover, potentially limiting reinvestment capacity

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 42d ago
Headwinds 1
  • Fine for board non-compliance Jul 9

    Rites fined ₹94,400 by stock exchanges for failing to appoint a woman director. Company cited delays due to government appointment procedures.

Positives 3
  • USD 35.82 mn locomotive order Jul 6

    Rites won a USD 35.82 million order from Volantis Asset Finance for supplying locomotives, to be executed in 20 months.

  • Rs 79.22 cr Patna Metro order Jul 11

    RITES secured a Rs 79.22 crore consultancy order from Patna Metro Rail Corporation with a project duration of 68 months.

  • MoU with MECON for infra Jul 20

    RITES and MECON signed an MoU to jointly explore business in transport, infrastructure, and industrial sectors across domestic and international markets.

Neutral 2
  • New senior management appointment Jul 17

    Shri Vinod Kumar Paswan appointed as Group General Manager (Civil) on deputation. Shri Alok Bansal ceases to be part of senior management.

  • Independent director tenure ends Jul 6

    Dr. Dineshananda Goswami ceases as Independent Director on July 7, 2026, after completing his one-year tenure.

TL;DR: RITES is on a solid order-winning streak in July with both domestic metro consultancy and international locomotive supply contracts adding to its pipeline. The MoU with MECON broadens its addressable market. The only headwind is a minor regulatory fine for board composition non-compliance, which poses negligible financial risk but flags governance gaps. Overall trend is positive with growing order visibility across segments.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
544
582
683
643
486
541
576
602
490
549
609
768
532
Expenses
383
445
514
467
380
435
458
417
376
419
466
600
418
Operating Profit
161
138
169
176
106
106
117
186
114
130
142
168
115
OPM %
30%
24%
25%
27%
22%
20%
20%
31%
23%
24%
23%
22%
22%
Other Income
18
28
19
27
25
22
44
27
24
35
30
35
33
Interest
1
1
2
0
1
2
1
1
1
1
1
1
1
Depreciation
16
14
15
16
14
15
16
17
15
17
17
16
17
PBT
163
150
171
187
115
111
144
195
122
146
154
186
131
Tax %
26%
27%
25%
27%
21%
26%
24%
27%
25%
25%
25%
25%
25%
Net Profit
120
110
129
137
90
82
109
141
91
109
115
139
98
EPS in Rs
2.25
2.1
2.5
2.62
1.64
1.52
2.08
2.76
1.67
2.04
2.12
2.7
1.81
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
1,013
1,218
1,351
1,497
2,047
2,474
1,905
2,662
2,628
2,453
2,196
2,415
2,458
Expenses
664
871
1,005
1,071
1,469
1,811
1,353
1,933
1,869
1,792
1,653
1,832
1,903
Operating Profit
348
347
347
427
578
663
552
729
759
661
543
583
555
OPM %
34%
29%
26%
28%
28%
27%
29%
27%
29%
27%
25%
24%
23%
Other Income
147
208
210
154
200
268
101
84
103
92
118
123
132
Interest
2
1
14
25
10
10
9
13
21
21
34
33
3
Depreciation
26
37
38
36
38
47
52
66
67
61
62
66
67
PBT
468
518
505
519
730
874
593
735
774
670
565
608
617
Tax %
33%
34%
33%
31%
33%
28%
25%
27%
26%
26%
25%
25%
—
Net Profit
312
340
337
357
490
633
444
539
571
495
424
454
461
EPS in Rs
12.49
13.55
6.57
6.85
9.39
12.32
9
10.74
11.28
9.48
8.01
8.54
8.67
Div. Payout %
20%
40%
46%
32%
54%
65%
72%
79%
91%
95%
94%
85%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
100
100
200
200
200
250
240
240
240
240
481
481
Reserves
1,576
1,707
1,838
2,014
2,222
2,383
2,152
2,248
2,363
2,369
2,160
2,201
Borrowings
0
173
83
55
48
47
37
28
5
8
9
7
Other Liabilities
1,929
2,531
2,678
2,901
2,956
3,222
3,408
3,326
3,381
3,047
3,472
3,242
Total Liabilities
3,605
4,511
4,799
5,170
5,426
5,903
5,837
5,842
5,991
5,664
6,121
5,930
Fixed Assets
212
476
406
402
478
590
584
560
552
535
884
867
CWIP
26
34
5
2
4
4
15
58
101
174
48
89
Investments
226
220
328
133
141
261
289
205
130
109
117
104
Other Assets
3,141
3,781
4,060
4,633
4,803
5,047
4,948
5,020
5,208
4,846
5,072
4,870
Total Assets
3,605
4,511
4,799
5,170
5,426
5,903
5,837
5,842
5,991
5,664
6,121
5,930
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
-89
463
555
410
164
319
516
310
560
432
637
327
Investing
291
-520
-56
-454
139
49
194
62
163
-315
-205
-35
Financing
-38
39
-215
-217
-279
-420
-708
-376
-483
-504
-405
-424
Net Cash Flow
165
-18
284
-261
24
-52
2
-5
239
-387
27
-131
Free Cash Flow
-196
269
540
348
12
207
436
168
424
295
505
266
CFO/OP
15
186
208
138
70
80
112
68
98
99
148
75
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
137
161
125
114
109
124
112
101
126
134
123
141
Inventory Days
32
—
—
22
302
11
—
81
96
—
—
63
Days Payable
408
—
—
184
572
144
—
105
589
—
—
520
Cash Conversion Cycle
-239
161
125
-47
-161
-9
112
77
-367
134
123
-317
Working Capital Days
-464
-427
-449
-454
-297
-240
-335
-234
-219
-203
-282
-173
ROCE %
30%
28%
21%
24%
30%
33%
23%
29%
30%
25%
22%
23%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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63 extracted metrics + investor summaries across FY07–FY27.

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Shareholding Pattern

Others1.69%Promot.72.20%FIIs3.43%DIIs8.75%Public13.94%As ofJun 2026

Documents

Frequently Asked Questions about RITES

What does Rites Ltd do?
Established in 1974, RITES Limited is a public sector enterprise and a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. The company is the only export arm of Indian Railways for providing rolling stock overseas (other...
Where is Rites Ltd (RITES) listed?
Rites Ltd trades as RITES on the NSE and under code 541556 on the BSE.
Which sector does Rites Ltd belong to?
Rites Ltd is classified under the Construction sector, in the Civil Construction industry.
What is the market capitalisation of Rites Ltd?
Rites Ltd has a market capitalisation of ₹9,996 Cr, which places it in the Mid Cap band.
What is the PE ratio of Rites Ltd?
Rites Ltd trades at a PE ratio of 24.12, on earnings per share of ₹17.74, against a book value of ₹55.79 per share.
What is the 52-week high and low of Rites Ltd?
Over the last 52 weeks Rites Ltd has traded between ₹175 and ₹280.9.
Does Rites Ltd pay dividends?
Rites Ltd has a dividend yield of 0.66%.
What is the Return on Equity (ROE) of Rites Ltd?
Rites Ltd reported a return on equity of 15.41%. Its debt-to-equity ratio is 0.00.

Company Information

Established in 1974, RITES Limited is a public sector enterprise and a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. The company is the only export arm of Indian Railways for providing rolling stock overseas (other than Thailand, Malaysia and Indonesia). [1]

Website rites.com
CEO Mr. Rahul Mithal
Employees 1,793
Listed 2018-07-02
Face Value ₹ 10
Issued Size 48,06,03,774

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