Ring Plus Aqua – better known as RPAL. Its primarily involved in manufacturing business and exporting ring gears, flex plates, water pump bearings, machined components both for auto component and engineering products. JK Files & Engineering Limited which is part of a Raymond Group is the holding company of RPAL holding 89.07% capital of the firm.

The Gross Revenue for the fiscal year 2021-22 stood at INR 323.89 crores whereas previous year number was INR 203.69 crores. During the same time, it made profit before tax of Rs. 51.58 crores and shown a remarkable growth from previous year which was INR 28.58 crores.

Financial Highlights (INR Crore)

DESCRIPTION Mar-22 Mar-21 Mar-20 Mar-19 Mar-18 Mar-17
Total Income 324.32 203.78 211.65 262.04 210.07 160.17
PBT 51.58 28.58 25.37 50.43 35.79 10.49
PAT 38.73 22.52 17.98 36.17 26.39 7.71
Cash Flow from Operations 38.88 34.66 39.85 36.61 34.85 30.74
Cash Flow from Investing activities 38.05 -34.18 -36.40 -34.69 -5.72 9.43
Cash Flow from Finance activities -73.91 -2.80 0.26 -3.36 -27.85 -43.37
Debt to Equity 0.08 0.07 0.10 0.11 0.19 0.78
Current Ratio 1.50 1.88 1.64 1.32 1.25 0.88
EPS 49.93 29.03 23.18 46.63 34.02 9.94

Face Value is INR 10/ share.

Product Line along with plants

RPAL has started pilot supplies of new products and increase its product portfolio & its revenue is generated by teaming up with other firms and getting a contract. Apart from that getting incentive while exporting and selling of process waste generates good amount of revenue for the firm. On a hindsight of strong initiatives on increasing share of business with existing customers and new business development, it has strong hold on customers from domestic and foreign markets.

It already started ramping up its resources and geared up to meet this demand and taken up capacity expansion projects for both ring gears and water pump bearings. It continued its focus on operational excellence, relentless cost reduction measures, lean manufacturing practices and improvised supply chain management with tight control on working capital using new tech like IOT based monitoring system, high speed digital multi gauge.

These measures supported them in mitigating the impact on the margins and improving their cash flows. The global surge in automotive demand for passenger and commercial vehicles will be helpful in minting the growth of the firm.

Company’s ring gear product is a success and generates three times more revenue than their other products (pump bearing, flex plates & others). Apart from domestic market, America is the major market for the firm followed by different parts of Europe, Asia & Latin America. This brings down the risk factor very much on the cards considering the fluctuations in FX, commodity prices, interest rates, compliance. To mitigate & take coercive action against the risk, RPAL regularly monitors and assess things on a regular basis.

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Key Personnel

Ravikant Uppal – Chairman

Balasubramanian V - CEO

Sitesh Maheshwari – CFO

For any queries, reach out to: unlisted@rurashfin.com or Call: +91 224157 1111