RAJNANDINI METAL LIMITED

Financials Rajnandini Metal Limited

Equities

RAJMET

INE00KV01022

Specialty Mining & Metals

Market Closed - NSE India S.E. Other stock markets 07:43:49 2024-05-10 EDT			5-day change	1st Jan Change
10.6 ^INR	-1.85%		-6.19%	+0.47%

01-15	Rajnandini Metal Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023	CI
2023	Rajnandini Metal Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023	CI

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023
Capitalization ¹	162.2	161.6	1,087	6,332	3,097
Enterprise Value (EV) ¹	414.1	560.8	1,512	6,824	3,808
P/E ratio	15.5 x	14 x	21.5 x	63.1 x	22.6 x
Yield	-	-	-	-	-
Capitalization / Revenue	0.12 x	0.11 x	0.17 x	0.62 x	0.3 x
EV / Revenue	0.3 x	0.38 x	0.24 x	0.66 x	0.37 x
EV / EBITDA	12.2 x	14.2 x	14.2 x	37.7 x	14.3 x
EV / FCF	-5.48 x	-7.14 x	-26.2 x	-75.3 x	-16.7 x
FCF Yield	-18.3%	-14%	-3.81%	-1.33%	-5.98%
Price to Book	1.22 x	1.11 x	5.56 x	21.4 x	7.47 x
Nbr of stocks (in thousands)	276,480	276,480	276,480	276,480	276,480
Reference price ²	0.5867	0.5844	3.933	22.90	11.20
Announcement Date	19-07-01	20-08-07	21-07-26	22-08-10	23-08-24

¹INR in Million²INR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2018	2019	2020	2021	2022	2023
Net sales ¹	1,409	1,368	1,484	6,309	10,282	10,289
EBITDA ¹	32.09	33.91	39.51	106.8	180.8	265.7
EBIT ¹	30.78	32.5	36.39	98.43	169.4	253.8
Operating Margin	2.18%	2.38%	2.45%	1.56%	1.65%	2.47%
Earnings before Tax (EBT) ¹	15.39	15.4	16.18	70.38	141.5	211.2
Net income ¹	10.29	10.45	11.59	50.67	100.2	136.8
Net margin	0.73%	0.76%	0.78%	0.8%	0.97%	1.33%
EPS ²	0.0508	0.0378	0.0418	0.1831	0.3627	0.4948
Free Cash Flow ¹	6.585	-75.62	-78.49	-57.61	-90.64	-227.8
FCF margin	0.47%	-5.53%	-5.29%	-0.91%	-0.88%	-2.21%
FCF Conversion (EBITDA)	20.52%	-	-	-	-	-
FCF Conversion (Net income)	64.02%	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-
Announcement Date	18-07-02	19-07-01	20-08-07	21-07-26	22-08-10	23-08-24

¹INR in Million²INR

Estimates

Balance Sheet Analysis

Fiscal Period: March	2018	2019	2020	2021	2022	2023
Net Debt ¹	207	252	399	425	491	711
Net Cash position ¹	-	-	-	-	-	-
Leverage (Debt/EBITDA)	6.466 x	7.428 x	10.1 x	3.975 x	2.717 x	2.677 x
Free Cash Flow ¹	6.59	-75.6	-78.5	-57.6	-90.6	-228
ROE (net income / shareholders' equity)	13.5%	9.78%	8.32%	29.7%	40.8%	38.5%
ROA (Net income/ Total Assets)	4.76%	5.18%	4.42%	8.07%	10.7%	12.8%
Assets ¹	216.2	201.6	262.3	628	934.1	1,068
Book Value Per Share ²	0.4000	0.4800	0.5200	0.7100	1.070	1.500
Cash Flow per Share ²	0.0100	0.0100	0	0	0	0.0100
Capex ¹	0.1	71	71	46.5	15.9	111
Capex / Sales	0.01%	5.19%	4.78%	0.74%	0.15%	1.08%
Announcement Date	18-07-02	19-07-01	20-08-07	21-07-26	22-08-10	23-08-24

¹INR in Million²INR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Nonferrous Metal Processing

	1st Jan change	Capi.
RAJNANDINI METAL LIMITED	+0.47%	35.08M
VSMPO-AVISMA CORPORATION	-.--%	7.12B
ZHEJIANG HUAYOU COBALT CO., LTD	-8.65%	7.07B
CHINA RARE EARTH RESOURCES AND TECHNOLOGY CO., LTD.	+7.73%	4.38B
PANGANG GROUP VANADIUM & TITANIUM RESOURCES CO., LTD.	-3.05%	4.09B
YUNNAN COPPER CO.,LTD	+31.77%	3.98B
WESTERN SUPERCONDUCTING TECHNOLOGIES CO., LTD.	-18.99%	3.88B
CHINA NONFERROUS MINING CORPORATION LIMITED	+47.95%	3.79B
AURUBIS AG	-3.99%	3.35B
ZHE JIANG HAI LIANG CO., LTD	-18.39%	2.52B

Nonferrous Metal Processing

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Financials Rajnandini Metal Limited

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