---
title: "Radha Madhav Corporation Ltd (RMCL) — Share Price, Financials & Analysis"
symbol: "RMCL"
company: "Radha Madhav Corporation Ltd"
canonical: "https://tapetide.com/stocks/RMCL"
isin: "INE172H01014"
nse_symbol: "RMCL"
bse_code: "532692"
sector: "Industrials"
industry: "Industrial Products"
generated_at: "2026-09-13T18:47:52.158Z"
---

# Radha Madhav Corporation Ltd (RMCL)

Canonical page: https://tapetide.com/stocks/RMCL

## Company

- **NSE Symbol:** RMCL
- **BSE Code:** 532692
- **ISIN:** INE172H01014
- **Sector:** Industrials
- **Industry:** Industrial Products
- **Macro Sector:** Industrials
- **Stock Type:** EQUITY
- **Listed Since:** 2007-11-26
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** rmclindia.co.in

## About

Incorporated in 1994, Radha Madhav Corporation Ltd is a multi material, multi process, multi product packaging solutions provider.

## Latest Price

- **Price:** ₹2
- **Change:** 0 (0%)
- **Open:** ₹2
- **Day High:** ₹2
- **Day Low:** ₹1.9
- **Previous Close:** ₹2
- **Volume:** 0
- **As Of:** 2023-12-21T04:54:24+00:00

## Key Insights

### Strengths

- Company has reduced debt.

### Weaknesses

- Stock is trading at 16.4 times its book value
- Company has low interest coverage ratio.
- Promoter holding is low: 25.0%
- Company has a low return on equity of -156% over last 3 years.
- Company might be capitalizing the interest cost

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | -137% | 26% | 14% |
| revenue growth | -100% | — | — |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0.01 | 0.02 | -0.02 | 0 | 0 | 0.02 | 0.12 | 0 | 0 | 0 | 0 | 0 |
| Expenses | 0.09 | 0.25 | 0.19 | 1.12 | 0.23 | 0.61 | 1.89 | 0.04 | 1.1 | -0.23 | 0.72 | 0.95 |
| Operating Profit | -0.08 | -0.23 | -0.21 | -1.12 | -0.23 | -0.59 | -1.77 | -0.04 | -1.1 | 0.23 | -0.72 | -0.95 |
| OPM % | -800 | -1150 | — | — | — | -2950 | -1475 | — | — | — | — | — |
| Other Income | 0.05 | 0 | 3.85 | 0 | 0.07 | 0.07 | 3.15 | 0.06 | 0.4 | 0.86 | 0.21 | 0.26 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0.16 | 0.32 | 0.51 | 0.25 | 0.31 | 0.19 | 0.59 | 0.09 | 0.1 | 0.09 | 0.03 | 0.06 |
| Profit before tax | -0.19 | -0.55 | 3.13 | -1.37 | -0.47 | -0.71 | 0.79 | -0.07 | -0.8 | 1 | -0.54 | -0.75 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Profit | -0.19 | -0.55 | 3.14 | -1.37 | -0.47 | -0.71 | 0.79 | -0.07 | -0.8 | 1 | -0.54 | -0.75 |
| EPS in Rs | -0.02 | -0.06 | 0.34 | -0.15 | -0.05 | -0.08 | 0.09 | -0.01 | -0.09 | 0.11 | -0.06 | -0.08 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 217.33 | 533.61 | 34.9 | 0.95 | 0.34 | 0.18 | 0 | 0.14 | 0 | 0 |
| Expenses | 205.85 | 512.99 | 99.25 | 7.98 | 0.79 | 24.21 | 0.43 | 2.5 | 1.62 | 2.54 |
| Operating Profit | 11.48 | 20.62 | -64.35 | -7.03 | -0.45 | -24.03 | -0.43 | -2.36 | -1.62 | -2.54 |
| OPM % | 5.28 | 3.86 | -184.38 | -740 | -132.35 | -13350 | — | -1685.71 | — | — |
| Other Income | 0.22 | 75.14 | 0.99 | 1.18 | 0.79 | 0.02 | 3.85 | 3.22 | 1.52 | 1.73 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1.39 | 1.43 | 1.17 | 1.17 | 1.01 | 0.84 | 0.83 | 0.78 | 0.3 | 0.28 |
| Profit before tax | 10.31 | 94.33 | -64.53 | -7.02 | -0.67 | -24.85 | 2.59 | 0.08 | -0.4 | -1.09 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |
| Net Profit | 10.31 | 94.33 | -64.52 | -7.01 | -0.67 | -24.85 | 2.59 | 0.08 | -0.4 | -1.09 |
| EPS in Rs | 1.19 | 10.93 | -7.07 | -0.77 | -0.07 | -2.72 | 0.28 | 0.01 | -0.04 | -0.12 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 66.34 | 86.34 | 86.34 | 91.3 | 91.3 | 91.3 | 7.81 | 7.81 | 7.81 | 7.81 |
| Reserves | -176.88 | -171.54 | -61.81 | -121.63 | -128.03 | -128.71 | -8.96 | -6.37 | -6.3 | -6.7 |
| Borrowings | 155.9 | 89.58 | 7.88 | 16.52 | 37.74 | 37.66 | 28.81 | 21.04 | 6.69 | 1.46 |
| Other Liabilities | 76.42 | 202.13 | 219.7 | 75.27 | 53.75 | 54.65 | 1.69 | 2.28 | 9.32 | 12.32 |
| Total Liabilities | 121.78 | 206.51 | 252.11 | 61.46 | 54.76 | 54.9 | 29.35 | 24.76 | 17.52 | 14.89 |
| Fixed Assets | 30.04 | 29.19 | 28.36 | 26.73 | 25.57 | 24.55 | 23.71 | 21.86 | 10.17 | 9.87 |
| CWIP | 0 | 0.05 | 2.02 | 2.38 | 2.39 | 2.39 | 1.52 | 1.48 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 91.74 | 177.27 | 221.73 | 32.35 | 26.8 | 27.96 | 4.12 | 1.42 | 7.35 | 5.02 |
| Total Assets | 121.78 | 206.51 | 252.11 | 61.46 | 54.76 | 54.9 | 29.35 | 24.76 | 17.52 | 14.89 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 2.84 | 8.43 | 71.72 | -11.63 | -0.44 | 0.08 | -24.85 | 2.59 | 2.16 | 5.04 |
| Cash from Investing Activity | 0.05 | -0.51 | 0.3 | -0.19 | -0.01 | 0.01 | 0 | -2.55 | 12.38 | 0 |
| Cash from Financing Activity | 3.93 | -13.61 | -74.54 | 9.68 | -0.01 | -0.08 | 0 | 0 | -14.35 | -5.23 |
| Net Cash Flow | 6.82 | -5.69 | -2.53 | -2.14 | -0.46 | 0.02 | -24.85 | 0.04 | 0.18 | -0.19 |
| Free Cash Flow | 2.56 | 7.84 | 69.15 | -11.84 | -0.45 | 0.08 | -24.85 | 2.59 | 14.54 | 5.04 |
| CFO/OP | -122 | 73 | 349 | 18 | 9 | -18 | 103 | -602 | -95 | -306 |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 86.14 | 136.41 | 73.28 | 36.4 | 1871.11 | 6269.41 | 0 | — | 4353.93 | — |
| Inventory Days | 136.41 | 193.22 | 153.28 | 39.98 | 173.65 | — | 3.52 | — | 0 | — |
| Days Payable | 196.83 | 351.79 | 294.59 | 104.56 | 1400.27 | — | 70.42 | — | — | — |
| Cash Conversion Cycle | 25.72 | -22.17 | -68.03 | -28.19 | 644.48 | 6269.41 | -66.9 | — | 4353.93 | — |
| Working Capital Days | -412.77 | -139.38 | 12.64 | -415.93 | -25396.32 | -70412.79 | -54952.78 | — | -11810.36 | — |
| ROCE % | -7.51 | 41.46 | 124 | -693.55 | — | -106.35 | -178.07 | -4.75 | -19.43 | -7.43 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Sep 2020 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 16.32% | 21.23% | 21.23% | 24.95% | 24.95% | 20.07% | 20.07% | 20.07% | 20.07% | 24.95% |
| FIIs | 0.23% | 0.87% | 1.45% | 1.42% | 1.42% | 1.2% | 1.2% | 1.2% | 1.2% | 1.2% |
| DIIs | 0% | 0.2% | 0.49% | 0.54% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 83.45% | 77.7% | 76.83% | 73.08% | 73.63% | 78.71% | 78.72% | 78.71% | 78.72% | 73.84% |
| No. of Shareholders | 12705 | 11565 | 13267 | 13406 | 13604 | 17482 | 17103 | 17102 | 17101 | 17100 |

### Quarterly

| Category | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 20.07% | 20.07% | 20.07% | 20.07% | 20.07% | 20.07% | 20.07% | 20.07% | 20.07% | 20.07% | 20.07% | 24.95% |
| FIIs | 1.2% | 1.2% | 1.2% | 1.2% | 1.2% | 1.2% | 1.2% | 1.2% | 1.2% | 1.2% | 1.2% | 1.2% |
| Public | 78.73% | 78.72% | 78.72% | 78.71% | 78.71% | 78.71% | 78.71% | 78.71% | 78.71% | 78.72% | 78.72% | 73.84% |
| No. of Shareholders | 16894 | 17103 | 17103 | 17102 | 17102 | 17102 | 17102 | 17102 | 17102 | 17102 | 17101 | 17100 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 13 / 5 / 1

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 8.26 | Buy |
| EMA (10) | 8.23 | Buy |
| SMA (20) | 6.87 | Buy |
| EMA (20) | 7.43 | Buy |
| SMA (50) | 6.52 | Buy |
| EMA (50) | 6.96 | Buy |
| SMA (100) | 7.41 | Buy |
| EMA (100) | 7.38 | Buy |
| SMA (200) | 8.55 | Buy |
| EMA (200) | 8.39 | Buy |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 69.1 | Neutral |
| MACD (12,26,9) | 0.84 | Buy |
| Stochastic (14,3,3) | 82.54 | Sell |
| ADX (14) | 52.26 | Buy |
| Williams %R (14) | -32.14 | Neutral |
| ATR (14) | 0.34 | High Volatility |
| ROC (12) | 43.33 | Buy |
| Stoch RSI (14) | 46.41 | Neutral |
| UO (7,14,28) | 64.62 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-04 | [Outcome Of Board Meeting](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a5426ff6-00cc-4c88-9dc0-b485c3a54e46.pdf) |
| 2026-09-04 | [In Supersession To Our Letter Dated September 1 2026 Please Find Enclosed Notice Of The Annual General Meeting With Few Typographical Correction](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ac6cc3fb-28bf-4f28-81b9-9e7d44640522.pdf) |
| 2026-09-02 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=99f4b00c-ec77-4b36-8fae-b31745bee062.pdf) |
| 2026-09-02 | [Notice Of AGM](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=214dfc8d-94c5-44dc-9910-c43cd9a9e004.pdf) |
| 2026-09-02 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=11d4a0ea-5b0d-4223-b45b-9283b623f815.pdf) |
| 2026-08-31 | [Board Meeting Outcome for Outcome Of Board Meeting](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c4d25f64-edb1-45a3-b950-91057a66e738.pdf) |
| 2026-08-24 | [Board Meeting Intimation for Intimation Of Board Meeting](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=48bf1825-d623-4dcb-87df-bb0d930e5e8f.pdf) |
| 2026-08-17 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=344b015a-610d-4209-803e-00c79e3ec702.pdf) |
| 2026-08-14 | [Outcome Of Board Meeting](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c8a37b8f-cbd5-4163-87e7-e07dab2865ec.pdf) |
| 2026-08-14 | [Board Meeting Outcome for Outcome Of Board Meeting](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=84a848d8-c0dc-49bd-ac8f-7dffd7e9ac82.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 6 Apr - Promoter Vijay Patel disclosed no share encumbrance as of March 31, 2026. | [Disclosure Under Regulation 31(4) Of SEBI (SAST) Regulations, 2011 6 Apr - Promoter Vijay Patel disclosed no share encumbrance as of March 31, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/4db71e6d-619b-4cac-ba33-a414912cad8f.pdf) |
| 23 Jan - Acquisition of Phytoatomy Private Limited remains pending; no control acquired as of Jan 23, 2026. | [The Proposed Acquisition Of Phytoatomy Private Limited Is Still Under Process And Has Not Been Completed As On Date. Accordingly, The Company Has Not Acquired Control Or Shareholding In Phytoatomy Private Limited 23 Jan - Acquisition of Phytoatomy Private Limited remains pending; no control acquired as of Jan 23, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3a9e2bbd-032b-4ae7-9560-d5842ee00e5f.pdf) |
| 2 Feb - Board meeting on Feb 11, 2026 to approve standalone unaudited results for quarter ended Dec 31, 2025. | [Board Meeting Intimation for Intimation Of Board Meeting 2 Feb - Board meeting on Feb 11, 2026 to approve standalone unaudited results for quarter ended Dec 31, 2025.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a4be2aff-554e-415e-9472-852440ca653f.pdf) |
| 16 Apr - Company disclosed it is not a large corporate under SEBI debt framework. | [Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 16 Apr - Company disclosed it is not a large corporate under SEBI debt framework.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a0dc992d-a965-4671-9064-f50d11e452c8.pdf) |
| 16 Apr - Company confirms it is not a Large Corporate for FY 2025-26. | [Format of the Annual Disclosure to be made by an entity identified as a LC - Annexure B2 16 Apr - Company confirms it is not a Large Corporate for FY 2025-26.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a99fae0d-c911-417c-a3b5-0e68adf0e384.pdf) |
| 14 Apr - Regulation 74(5) compliance certificate for quarter ended March 31, 2026. | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 14 Apr - Regulation 74(5) compliance certificate for quarter ended March 31, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/bfab595a-894c-4ddb-b913-407d03f7b2f8.pdf) |
| 11 Feb - Board approved Q3FY2026 standalone unaudited results: profit Rs10.02mn, EPS Rs1.28; trading window opens Feb 14, 2026. | [Board Meeting Outcome for Outcome Of Board Meeting 11 Feb - Board approved Q3FY2026 standalone unaudited results: profit Rs10.02mn, EPS Rs1.28; trading window opens Feb 14, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c1b0ac2e-eaf5-4227-9420-ab12783850e3.pdf) |
| — | [Closure of Trading Window 24 Mar](https://www.bseindia.com/xml-data/corpfiling/AttachHis/22e27e50-f7fe-4134-b1fe-c2721421e810.pdf) |
| — | [Announcement under Regulation 30 (LODR)-Newspaper Publication 14 Feb](https://www.bseindia.com/xml-data/corpfiling/AttachHis/9eafca35-dfd2-4a62-b145-77817e8b3f2f.pdf) |
| — | [Unaudited Financial Result For The Quarter Ended December 31, 2025 11 Feb](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1a82fd3b-29e1-4b3f-8c55-dbadb9c57789.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2010 from nse](https://archives.nseindia.com/annual_reports/AR_RMCL_2009_2010_13092010120000.zip) |
| from bse | [Annual Report 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/0dd41b7e-b889-45d9-97fb-15a603c7adc1.pdf) |
| from bse | [Annual Report 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a6e0bddc-a99f-44fa-b4ea-8d568d9d5ff4.pdf) |
| from bse | [Annual Report 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/096e59d3-bcad-49d8-817d-32462f266bc7.pdf) |
| from bse | [Annual Report 2023 from bse](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=096e59d3-bcad-49d8-817d-32462f266bc7.pdf) |
| from bse | [Annual Report 2022 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ea3330ac-94d8-40b9-b681-4f1afe01efbb.pdf) |
| from bse | [Annual Report 2022 from bse](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ea3330ac-94d8-40b9-b681-4f1afe01efbb.pdf) |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d56b85ba-1884-4b89-9d97-5b148b9d4159.pdf) |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d56b85ba-1884-4b89-9d97-5b148b9d4159.pdf) |
| from bse | [Annual Report 2020 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/df501445-7ca6-4487-9906-b2f10ff162cd.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:47:52.158Z.