Rajratan Global Wire financials and balance sheet

NSE: RAJRATANBSE: 517522Auto ComponentsSmall Cap

₹372.75₹10.55 (2.75%)BSE ₹372.70

Share price at the NSE close on 23 Oct 2026. Previous close ₹383.30.

52-week range of traded prices to 23 Oct 2026

₹323.90Low, 30 Mar 2026₹563.95High, 5 Aug 2026

Market cap: ₹1,892 Cr1,123rd largest listed
P/E: 22.7
P/B: 2.8
Dividend yield: 0.54%
ROE: 12.9%
ROCE: 11.5%
Debt to equity: 0.60
Volume, NSE: 2,46,44340.7% delivered

10 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.Rajratan Global Wire annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings

Operating and net margin, per cent

Operating margin
Net margin

The years either side of a change of basis do not compare. From the year to Mar 2018, the company's revenue for that year, ₹349 Cr, differs from its quarters added, ₹354 Cr.

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue1,157
Materials and goods−703
Employee costs−55
Other expenses−259
Operating profit140
Depreciation−28
Other income+6.1
One-off items0.0
Finance costs−28
Profit before tax89
Tax−19
Net profit70

What the company owns

Plant, investments and other assets₹762 Cr
Receivables₹255 Cr
Inventory₹104 Cr
Cash and bank₹37 Cr

What pays for it: net worth and liabilities

Net worth₹650 Cr
Borrowings₹324 Cr
Owed to suppliers₹139 Cr
Other liabilities₹46 Cr

Profit and loss

Consolidated, ₹ crore, years to March.Rajratan Global Wire quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019Filed 14 May	Mar 2020Filed 23 May	Mar 2021Filed 24 Apr	Mar 2022Filed 23 Apr	Mar 2023Filed 25 Apr	Mar 2024Filed 23 Apr	Mar 2025Filed 10 Jun	Mar 2026Filed 21 Apr
Revenue from operations	289	349	493	480	547	893	895	890	935	1,157
	248	315	440	412	454	711	733	763	808	1,017
Materials and goods bought	167	222	331	294	337	537	551	581	589	703
Employee costs	20	–	24	27	28	33	36	39	43	55
Other expenses	61	–	86	92	90	142	146	143	176	259
Operating profit before depreciation	41	33	52	68	92	182	162	128	127	140
Operating margin	14.2%	9.6%	10.6%	14.2%	16.9%	20.3%	18.1%	14.3%	13.6%	12.1%
Materials, % of revenue	57.9%	–	67.1%	61.1%	61.6%	60.1%	61.5%	65.3%	63.0%	60.8%
Employee costs, % of revenue	6.9%	–	4.9%	5.6%	5.1%	3.7%	4.1%	4.3%	4.6%	4.7%
Other expenses, % of revenue	21.0%	–	17.4%	19.1%	16.4%	15.9%	16.3%	16.0%	18.9%	22.4%
Depreciation and amortisation	7	8	9	12	14	16	18	18	23	28
Operating profit after depreciation	33	26	43	56	78	166	144	110	104	111
Other income	2	5	2	1	2	2	3	3	2	6
Finance costs	11	9	11	13	13	15	17	20	28	28
Profit before one-off items and tax	25	22	34	44	66	153	130	94	77	89
One-off items	0	2	0	0	0	0	0	0	0	0
Profit before tax	25	23	34	44	66	153	130	94	77	89
	4	6	7	11	13	28	30	22	19	19
Current tax	–	–	6	8	14	29	28	21	14	14
Deferred tax	–	–	1	3	−1	−1	2	1	5	5
	21	17	27	33	53	124	100	72	59	70
Belonging to the company's shareholders	21	17	27	33	53	–	100	72	59	70
Other comprehensive income	–	–	1	2	0	−2	8	−8	18	32
Total comprehensive income	–	–	28	35	53	123	109	63	77	102
Net margin	7.3%	4.9%	5.4%	6.9%	9.7%	13.9%	11.2%	8.1%	6.3%	6.1%

Materials, employee costs and other expenses are shown for the years they add up to operating expenses; for the year to Mar 2018 they do not, so they are left blank. Belonging to the company's shareholders is left blank for the year to Mar 2022: the filing's split of the profit between the company's shareholders and the other owners of its subsidiaries is contradicted by its own figures, which do not prove which line is the shareholders'.

Balance sheet

Consolidated, ₹ crore, at 31 March. The last column is the half year to Sep 2026, after the latest full year: the balance sheet at its end.

₹ crore	Mar 2019Filed 14 May	Mar 2020Filed 23 May	Mar 2021Filed 24 Apr	Mar 2022Filed 23 Apr	Mar 2023Filed 25 Apr	Mar 2024Filed 23 Apr	Mar 2025Filed 10 Jun	Mar 2026Filed 21 Apr	Sep 2026Half yearFiled 21 Oct
	142	173	227	341	439	493	559	650	686
Share capital	4	10	10	10	10	10	10	10	10
Reserves	138	163	216	331	429	482	549	640	676
	129	137	130	137	171	191	237	324	414
Repayable after a year	40	54	59	54	86	104	115	129	130
Repayable within a year	89	83	70	83	85	86	122	195	284
	142	140	143	212	201	216	267	356	441
Trade payables	36	40	49	116	95	109	131	139	125
Other financial liabilities	9	10	13	0	11	12	5	11	–
Other liabilities	8	6	8	7	6	7	7	6	19
Provisions	1	0	0	0	1	1	1	2	3
Tax owed	–	0	2	6	3	1	1	3	3
	48	65	70	64	99	118	134	153	157
Other financial liabilities	0	0	0	0	–	–	–	–	–
Other liabilities	–	0	0	0	–	1	–	–	–
Provisions	0	0	0	0	1	0	1	1	1
Deferred tax	9	11	11	10	12	13	18	23	26
Total assets	333	378	439	617	739	826	960	1,159	1,284
	206	241	256	333	488	560	612	728	778
Plant in use, after depreciation	168	229	242	281	324	364	532	617	–
Plant being built	32	10	8	30	140	191	72	88	–
Intangible assets	0	0	0	0	0	0	0	2	2
Goodwill	0	0	0	0	0	0	0	0	0
Intangible assets being developed	0	0	0	0	–	0	0	0	0
Investments	0	0	0	0	0	0	0	1	2
Loans given	2	1	0	0	0	0	0	0	0
Other financial assets	–	1	3	18	3	4	4	6	3
Deferred tax	0	0	0	0	–	0	–	–	–
Trade receivables	0	0	0	0	–	–	–	–	9
Other assets	3	0	2	4	20	–	3	13	–
	128	137	183	284	251	267	347	431	507
Inventories	45	41	51	82	86	72	110	104	140
Trade receivables	72	84	117	181	136	154	183	255	282
Cash and cash equivalents	0	0	3	1	3	3	12	23	33
Other bank balances	4	3	5	8	10	12	13	15	15
Loans given	5	2	0	0	0	0	0	0	0
Other financial assets	0	0	0	0	2	2	2	0	1
Tax paid in advance	0	0	0	0	–	24	–	0	–
Other assets	1	7	8	12	14	–	28	34	35
Net debt	124	133	122	128	158	176	213	287	366

Borrowings are counted again inside the liabilities due within a year and after a year. Plant in use and plant being built are given for full years only. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March. The last column is the half year to Sep 2026, after the latest full year: the cash flow over its six months.

₹ crore	Mar 2021Filed 24 Apr	Mar 2022Filed 23 Apr	Mar 2023Filed 25 Apr	Mar 2024Filed 23 Apr	Mar 2025Filed 10 Jun	Mar 2026Filed 21 Apr	Sep 2026Half yearFiled 21 Oct
	36	119	159	106	57	75	9
	49	145	189	129	71	86	16
	−45	−39	26	−1	−57	−58	−75
Receivables	−32	−69	47	−17	−28	−73	−27
Inventories	−10	−31	−4	14	−38	6	−36
Payables	14	66	−19	13	22	9	−14
Other working capital	−18	−5	2	−11	−13	0	2
Tax paid	−13	−25	−31	−23	−14	−12	−8
Capital spending	28	87	166	120	59	106	76
Free cash flow	9	32	−7	−15	−2	−31	−68
	−24	−93	−166	−96	−57	−113	−63
Plant and property sold	0	0	0	1	0	1	0
Interest received	0	1	−1	1	0	0	0
	−10	−28	10	−10	−8	50	65
Borrowings raised	6	0	99	97	107	163	125
Borrowings repaid	0	−5	−64	−78	−60	−77	−35
Interest paid	−13	−15	−16	−19	−29	−28	−15
Dividends paid	0	8	10	10	10	10	10
Shares bought back	0	0	0	0	0	0	0
Shares issued	0	0	0	0	0	0	0
Net change in cash	3	−2	2	0	−7	11	10

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020.

Consolidated, ₹ per share, years to March.Rajratan Global Wire dividend history

₹ per share	Mar 2017	Mar 2018	Mar 2019Filed 14 May	Mar 2020Filed 23 May	Mar 2021Filed 24 Apr	Mar 2022Filed 23 Apr	Mar 2023Filed 25 Apr	Mar 2024Filed 23 Apr	Mar 2025Filed 10 Jun	Mar 2026Filed 21 Apr
	–	–	–	₹6.51	₹10.46	₹24.49	₹19.72	₹14.15	₹11.58	₹13.81
As stated that year	₹48.51	₹39.33	₹61.38	₹32.54	₹52.32	₹24.49	₹19.72	₹14.15	₹11.58	₹13.81
	–	–	–	₹6.51	₹10.46	₹24.49	₹19.72	₹14.15	₹11.58	₹13.81
As stated that year	₹48.51	₹39.33	₹61.38	₹32.54	₹52.32	₹24.49	₹19.72	₹14.15	₹11.58	₹13.81
	–	–	–	–	₹1.60	₹2.00	₹2.00	₹2.00	₹2.00	₹2.00
As declared that year	–	–	–	–	₹8.00	₹2.00	₹2.00	₹2.00	₹2.00	₹2.00
	–	–	–	₹34.18	₹44.64	₹67.16	₹86.58	₹97.06	₹110.14	₹128.17
On that year's share count	–	–	₹327.24	₹170.91	₹223.18	₹67.16	₹86.58	₹97.06	₹110.14	₹128.17
Dividend payout	–	–	–	–	15.3%	–	10.1%	14.1%	17.3%	14.5%
Shareholder yield	–	–	–	–	0.0%	0.3%	0.3%	0.3%	0.7%	0.6%
Market cap at the year end (₹ crore)	267	227	289	191	796	2,618	3,772	2,949	1,488	1,675

Every year is restated for later splits and bonuses, so they do not break the line. The figure the company stated that year is under each line it differs from.

Ratios

Consolidated, years to March.Rajratan Global Wire PE ratio and valuation

Ratio	Mar 2017	Mar 2018	Mar 2019Filed 14 May	Mar 2020Filed 23 May	Mar 2021Filed 24 Apr	Mar 2022Filed 23 Apr	Mar 2023Filed 25 Apr	Mar 2024Filed 23 Apr	Mar 2025Filed 10 Jun	Mar 2026Filed 21 Apr
Revenue growth	–	–	41.3%	−2.6%	13.8%	63.4%	0.3%	−0.5%	5.0%	23.7%
Operating profit growth	–	–	57.2%	29.8%	35.4%	97.1%	−10.8%	−21.2%	−0.6%	10.0%
Net profit growth	–	−18.9%	55.9%	23.7%	60.8%	134.0%	−19.5%	−28.3%	−18.1%	19.2%
Earnings per share growth	–	–	–	–	60.8%	134.0%	−19.5%	−28.2%	−18.2%	19.3%
	–	–	18.8%	20.9%	26.6%	–	25.7%	15.4%	11.2%	11.6%
	–	–	–	2.2 pts	5.6 pts	–	–	−10.2 pts	−4.2 pts	0.4 pts
From the net margin	–	–	–	5.1 pts	8.6 pts	–	–	−7.1 pts	−3.4 pts	−0.4 pts
From asset turnover	–	–	–	−2.1 pts	−0.3 pts	–	–	−2.6 pts	−1.0 pts	0.5 pts
From borrowing	–	–	–	−0.8 pts	−2.7 pts	–	–	−0.5 pts	0.1 pts	0.4 pts
Return on capital employed	–	–	15.9%	18.0%	21.9%	34.8%	23.6%	16.1%	13.0%	11.4%
Cash conversion	–	–	–	–	68.6%	95.8%	158.5%	147.0%	97.1%	106.3%
Interest cover	3.2	3.0	4.0	4.2	5.8	10.8	8.6	5.6	3.7	3.9
Debt to equity	–	–	0.90	0.79	0.57	0.40	0.39	0.39	0.42	0.50
Receivable days	–	–	53	64	78	74	56	63	71	81
Inventory days	–	–	50	51	55	56	57	45	68	54
Payable days	–	–	40	50	53	79	63	68	81	72
Cash conversion cycle, days	–	–	63	65	80	50	50	40	59	62
Working capital days	–	–	52	59	69	60	50	50	70	73
Asset turnover	–	–	1.48	1.35	1.34	1.69	1.32	1.14	1.05	1.09
Assets per rupee of net worth	–	–	2.34	2.25	2.04	1.86	1.74	1.68	1.70	1.75
Sales per rupee of plant	–	–	2.93	2.10	2.26	3.18	2.76	2.45	1.76	1.88
Capital spending to depreciation	–	–	–	–	1.95	5.63	9.17	6.80	2.57	3.75
Plant being built, % of plant in use	–	–	19.0%	4.3%	3.5%	10.6%	43.2%	52.5%	13.6%	14.3%

Revenue growth and operating profit growth are left blank for the year to Mar 2018: between the two periods the company restated its earlier figures, so the two are on different bases and the change is not worked out. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year: 6.6%
Cash from operations against operating profit: 53.4%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	–	16.2%	8.9%
Profit growth, yearly rate	–	5.7%	−11.2%
Return on equity, average	–	16.0%	12.7%
Return on capital employed, average	–	19.8%	13.5%
Operating margin, average	14.4%	15.7%	13.3%
Net margin, average	8.0%	9.1%	6.8%
Asset turnover, average	–	1.26	1.09
Cash conversion cycle, days, average	–	52	54
Interest cover, average	5.3	6.5	4.4
Debt to equity, average	–	0.42	0.44

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	515	237	75
Cash from investing	−525	−265	−113
Cash from financing	14	32	50
Capital spending	539	286	106
Dividends paid	49	30	10
Shares bought back	0	0	0
Shares issued for cash	0	0	0
Borrowings raised	466	367	163
Borrowings repaid	284	215	77

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	–	–	7	8	4	4	6	8
Altman Z-scorePublished threshold 1.81	–	–	3.36	2.93	4.89	8.93	10.31	7.72	4.47	4.16
Beneish M-scorePublished threshold −1.78	–	–	–	–	−1.91	−1.24	−2.38	−2.44	−2.64	−2.21
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	–	–	10.02	18.61	15.88	7.93	6.55	10.23
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	–	–	1.13	1.29	1.39	1.18
Receivables growth less revenue growthOur threshold 0 percentage points	–	–	–	19.22	25.44	−8.18	−24.94	13.86	13.12	16.25
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	–	–	2.65	8.71	1.14	2.65	−21.93	51.96	−25.10
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	–	–	1.13	0.14	0.53	0.31	1.11	0.52	0.39
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	–	0.14	0.31	0.55	2.27	3.33	0.38	0.78
Effective tax ratePublished threshold 17.16 per cent	15.93	27.19	21.68	24.41	19.80	18.55	23.19	23.42	23.99	21.30
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	–	–	2.12	−0.84	−1.13	6.33	7.55

A threshold marked as ours has no published figure; it is the line we read the check against.

Credit ratings

An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.

Date	Agency	Borrowing rated	Rating	Outlook	Amount, ₹ Cr
2 Jul 2026	CRISIL Ratings Limited (opens in a new tab)	Bank Facilities	Crisil A1Review, Re-affirm		95
2 Jul 2026	CRISIL Ratings Limited (opens in a new tab)	Bank Facilities	Crisil A+Review, Other	Stable	155.25
18 Jun 2026	ICRA Limited (opens in a new tab)	Fund-based-Term loan	[ICRA]A+New, New	Stable	178.27
18 Jun 2026	ICRA Limited (opens in a new tab)	Non-fund based-Others	[ICRA]A1New, New		0.36
18 Jun 2026	ICRA Limited (opens in a new tab)	Fund-based-Export packing credit	[ICRA]A1New, New		20
18 Jun 2026	ICRA Limited (opens in a new tab)	Non-fund based-Letter of credit	[ICRA]A1New, New		95
18 Jun 2026	ICRA Limited (opens in a new tab)	Fund-based-Cash credit	[ICRA]A+Review, Re-affirm	Stable	125.25
5 Jun 2026	ICRA Limited (opens in a new tab)	Unallocated limits-Unallocated limits	[ICRA]A+ /[ICRA]A1New, New	Stable	4.75

The latest rating on each borrowing. The agency's name opens its reasoning for the rating.