RATNAVEER

Ratnaveer Precision Engineering share price & financials

Price
₹188.99
Market cap
₹2.4k Cr
Sector
Capital Goods
Calls analysed
2
Latest concall · Q4 FY26 · call held 14 May 2026

Ratnaveer Precis Q4 FY26

Operating Cash Flow ₹-48 cr Net Cash Flow ₹203 cr Trade Receivables ₹175 cr Revenue Growth ₹100 cr

What went well

  • Existing business maintained 25%+ CAGR in top line, EBITDA, and PAT for last 3 years.
  • CCL project is first-of-its-kind in India, substituting 100% imports, with production starting November 2026.
  • Significant government support for CCL project with 338 crores approval from ECMS scheme and GEP scheme.

What to watch

  • Reported negative operating cash flow of 48 crores (484 million) for FY26.
  • Increase in trade receivables from 65 crores to 110-175 crores in FY26, attributed to new product launches and credit periods.
Read the full call →

Guidance record · Q4 FY26

what the last two calls moved 18 tracked 1 delivered 3 missed 14 open
  • Revenue delivered said Q2 FY26 Promised: ₹1,050-1,100 crores for FY26 Q4 FY26: Company reported FY26 revenue of ₹1,078 crores, which is within the guided range of ₹1,050-1,100 crores.
  • Inventory Days went quiet said Q2 FY26 Promised: Maintained in between of 110 to 120 days Q4 FY26: Inventory days were not mentioned. However, related working capital metrics like trade receivables have increased significantly in FY26, and operating cash flow was negative.
  • Revenue revised up said Q2 FY26 Promised: ₹1,500 crores as a topline in the next two years Q4 FY26: Management has significantly increased long-term targets, now aiming for a consolidated topline of ₹2,500 crores in the next 3 years. The new guidance for the existing business alone for FY27 is ₹1,350 crores, making the original target conservative.

All 18 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 18.9%, net profit up 20.0% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue230 255 203 265 286 +24%269 +5%249 +23%315 +19%
EBITDA24 21 17 27 28 +17%29 +38%28 +65%32 +19%
Net profit12 11 11 15 15 +25%17 +55%17 +55%18 +20%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +96.8% 1Y

₹150₹200₹250₹300Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 10 Nov 2025Q4 FY26 — 14 May 2026

1Y: ₹146.48 on 10 Sept 2025 → ₹288.3. High ₹310.6 (10 Sept 2026), low ₹131.3 (30 Mar 2026).

How the price took the results

close before → close after

Q4 FY26
+1.2%
14 May
Q2 FY26
+1.2%
10 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 30.7% a year over 3 years, FY23 to FY26. Operating margin widened to 10.5%.

Year endingFY23FY24FY25FY26
Revenue₹479 Cr₹595 Cr₹892 Cr₹1.1k Cr
Operating profit₹46 Cr₹50 Cr₹87 Cr₹112 Cr
Operating margin9.6%8.4%9.8%10.5%
Interest₹13 Cr₹11 Cr₹13 Cr₹20 Cr
Depreciation₹4 Cr₹6 Cr₹17 Cr₹25 Cr
Net profit₹26 Cr₹31 Cr₹47 Cr₹64 Cr
Net margin5.4%5.2%5.3%6.0%
Cash from operations₹0 Cr₹12 Cr₹95 Cr₹-48 Cr
Free cash flow₹-18 Cr₹-54 Cr₹-43 Cr₹-155 Cr
ROCE14.0%13.0%14.0%12.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹4 Cr₹4 Cr₹35 Cr₹49 Cr₹53 Cr₹68 Cr
Reserves₹52 Cr₹62 Cr₹71 Cr₹203 Cr₹369 Cr₹601 Cr
Borrowings₹151 Cr₹191 Cr₹230 Cr₹207 Cr₹214 Cr₹335 Cr
Other liabilities₹49 Cr₹52 Cr₹53 Cr₹57 Cr₹296 Cr₹257 Cr
Total liabilities₹256 Cr₹309 Cr₹389 Cr₹516 Cr₹932 Cr₹1.3k Cr
Fixed assets₹32 Cr₹41 Cr₹50 Cr₹74 Cr₹175 Cr₹242 Cr
Capital work in progress₹3 Cr₹4 Cr₹9 Cr₹45 Cr₹81 Cr₹82 Cr
Investments₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Other assets₹221 Cr₹264 Cr₹330 Cr₹397 Cr₹677 Cr₹937 Cr
Total assets₹256 Cr₹309 Cr₹389 Cr₹516 Cr₹932 Cr₹1.3k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, promoters trimmed −5.23 pp while FIIs added +2.30 pp. The shareholder count grew 3% to 55,925.

Promoters
45.5%
FIIs
3.5%
DIIs
2.0%
Public
49.0%

Since Jun 2025

  • Promoters −5.23 pp
  • FIIs +2.30 pp
  • DIIs +2.00 pp

How it drifted, 12 quarters

Over this window the public went from 34.0% to 49.0% — +14.9 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 55.5%, FIIs 10.5%, DIIs 0.0%, Public 34.0%.Dec '23: Promoters 55.5%, FIIs 3.8%, DIIs 0.0%, Public 40.7%.Mar '24: Promoters 55.5%, FIIs 0.1%, DIIs 0.0%, Public 44.4%.Jun '24: Promoters 55.5%, FIIs 1.2%, DIIs 0.0%, Public 43.3%.Sep '24: Promoters 50.7%, FIIs 0.7%, DIIs 0.4%, Public 48.2%.Dec '24: Promoters 50.7%, FIIs 2.4%, DIIs 0.3%, Public 46.6%.Mar '25: Promoters 50.7%, FIIs 1.8%, DIIs 0.2%, Public 47.2%.Jun '25: Promoters 50.7%, FIIs 1.2%, Public 48.0%.Sep '25: Promoters 50.7%, FIIs 1.3%, DIIs 0.1%, Public 47.9%.Dec '25: Promoters 42.6%, FIIs 8.3%, DIIs 2.6%, Public 46.5%.Mar '26: Promoters 42.7%, FIIs 7.3%, DIIs 2.5%, Public 47.4%.Jun '26: Promoters 45.5%, FIIs 3.5%, DIIs 2.0%, Public 49.0%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 2 holders trimming and 2 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Ratnaveer Precision Engineering Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Vijay Ramanlal Sanghavi 42.89%+1.53 pp
Chungath Karunakaran Padma Kumar 3.15%−0.81 pp
Seema Vijay Sanghavi 2.59%+1.21 pp
Trade Delta Llp 1.78%newly disclosed
Astorne Capital Vcc - Arven FPI fund1.47%−2.43 pp
Taurus Flexi Cap Fund Mutual fund1.16%newly disclosed
Saint Capital Fund FPI fund1.12%unchanged
Rinika Harishkumar Mehta 0.00%unchanged
Ratnaveer StainlessInox LLC 0.00%unchanged
Ratnveer Industries 0.00%unchanged
Ratnaravi Metal Impex 0.00%unchanged
Ratnaveer Ventures Private Limited 0.00%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Attractive

To justify its price of ₹288, this stock must grow earnings at 23% every year for 7 years. Our analysis caps realistic growth at ~31%. At that growth it is worth ₹427 — upside of 48%.

Growth the price implies
22.8% a year
for 7 years, fading to 4%
It has actually compounded at
30.7% a year
net profit, FY23–FY26
The gap
-0.1 pp
48% downside if it only repeats history
Price today ₹288.3 Value at the reference growth ₹426.82

Change the assumptions yourself →

All earnings calls (2)

Read the Q4 FY26 call →

Learn to analyse Ratnaveer Precision Engineering Limited

Guides on how to read this kind of business and the numbers that matter.