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Rites Ltd

RITES NSE

Key Fundamentals

MicrocapCivil ConstructionConstruction
Market Cap
₹10,569 Cr
Volatility
Moderate
P/E Ratio
25.26
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

Insights

Beta

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

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38 extracted metrics + investor summaries across FY15–FY26.

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Tapetide Score

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

Technical Indicators

Key Insights

Strengths

3
  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 102%

Weaknesses

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

Growth Rate

Revenue Growth
3.94% ↗
Net Income Growth
6.93% ↗
Cash Flow Change
47.62% ↗
ROE
-15.33% ↗
ROCE
-15.60% ↗
EBITDA Margin (Avg.)
-18.27% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 18d 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 15d 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

  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

  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
2,218
2,415
2,458
Expenses
664
871
1,005
1,071
1,469
1,811
1,353
1,933
1,869
1,792
1,675
1,861
1,903
Operating Profit
348
347
347
427
578
663
552
729
759
661
543
554
555
OPM %
34%
29%
26%
28%
28%
27%
29%
27%
29%
27%
24%
23%
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
4
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%
115%
—
Figures in ₹ Crores

Balance Sheet

  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
3,238
Total Liabilities
3,605
4,511
4,799
5,170
5,426
5,903
5,837
5,842
5,991
5,664
6,121
5,926
Fixed Assets
212
476
406
402
478
590
584
560
552
535
884
868
CWIP
26
34
5
2
4
4
15
58
101
174
48
88
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
4,866
Total Assets
3,605
4,511
4,799
5,170
5,426
5,903
5,837
5,842
5,991
5,664
6,121
5,926
Figures in ₹ Crores

Cash Flow

  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
126
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
30
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
79
Figures in ₹ Crores

Ratios

  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
122
141
Inventory Days
32
—
—
22
302
11
—
81
96
—
—
11
Days Payable
408
—
—
184
572
144
—
105
589
—
—
105
Cash Conversion Cycle
-239
161
125
-47
-161
-9
112
77
-367
134
122
47
Working Capital Days
-464
-427
-449
-454
-297
-240
-335
-234
-219
-203
-279
-174
ROCE %
30%
28%
21%
24%
30%
33%
23%
29%
30%
25%
22%
22%

Shareholding Pattern

As of Jun 2026
Promoters 72.20%
Public 13.94%
DIIs 8.75%
FIIs 3.43%
Others 1.69%
Total 100.01%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
72.20%
72.20%
72.20%
72.20%
72.20%
72.20%
72.20%
72.20%
72.20%
72.20%
72.20%
72.20%
72.20%
72.20%
72.20%
72.20%
72.20%
72.20%
72.20%
72.20%
72.20%
72.20%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
4.18%
3.50%
3.19%
3.34%
3.33%
3.47%
3.52%
3.46%
3.47%
3.43%
DIIs
15.43%
16.15%
16.50%
16.67%
16.87%
17.25%
17.56%
15.78%
15.90%
15.25%
12.63%
12.20%
11.10%
10.78%
9.64%
8.83%
8.67%
8.64%
8.66%
8.64%
8.70%
8.75%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
7.67%
7.67%
7.41%
7.12%
6.86%
6.59%
5.56%
6.99%
6.32%
6.97%
8.36%
9.42%
9.51%
10.78%
12.32%
13.25%
13.59%
13.48%
13.80%
13.85%
13.94%
13.94%
Others
4.70%
3.97%
3.88%
4.00%
4.07%
3.96%
4.67%
5.03%
5.58%
5.58%
6.80%
6.17%
3.02%
2.73%
2.65%
2.38%
2.21%
2.21%
1.82%
1.85%
1.68%
1.69%
No. of Shareholders
1,11,737
1,07,655
1,00,837
97,539
1,02,238
1,01,761
95,236
1,11,693
1,11,701
1,23,074
1,45,094
1,62,986
2,35,296
2,65,984
3,31,164
3,91,469
4,11,725
4,02,334
4,03,176
3,92,562
3,86,213
3,79,928

Documents

Frequently Asked Questions about Rites Ltd

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 is listed on the Indian stock exchanges. It is listed on NSE: RITES and BSE: 541556. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Rites Ltd belong to?
Rites Ltd operates in the Construction sector within the Civil Construction industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Rites Ltd?
Rites Ltd has a market capitalisation of approximately ₹10568.96 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Rites Ltd?
The Price-to-Earnings (PE) ratio of Rites Ltd is 25.26. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Rites Ltd?
Over the past 52 weeks, Rites Ltd has traded between a low of ₹175 and a high of ₹280.9. This range helps investors understand the stock's price volatility and recent trading levels.
Does Rites Ltd pay dividends?
Yes, Rites Ltd has a dividend yield of 0.63%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Rites Ltd?
Rites Ltd has a Return on Equity (ROE) of 15.41%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Rites Ltd on Tapetide?
On Tapetide, you can view Rites Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

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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