Rapicut Carbides Ltd (RAPICUT)

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Rapicut Carbides Ltd (RAPICUT) · mywealthgrid

About

Rapicut Carbides Ltd manufactures carbides and industrial products within the industrials sector. The company is a micro-cap with ₹177.23 Cr market capitalization and quarterly revenues ranging ₹3–10 Cr. Recent financial performance shows significant earnings volatility across quarters, indicating operational challenges or demand cyclicality.

Face value: ₹10

Market cap

₹146 Cr

P/E

—

P/B

6.7×

Dividend yield

ROE

10%

ROCE

12.5%

Debt / equity

OPM

3.1%

EPS (TTM)

₹-1.5

Book value

₹40.4

52-week high

—

52-week low

—

Key insights

Company research notes and source-linked reviews

Key risks

Severe profitability erosion: current ROE -11.23% and OPM -2.48%, with PE unavailable. No dividends paid since Sep 2019.
Extreme quarterly volatility: revenue ranges ₹3.14 Cr (Jun 2020) to ₹10.29 Cr (Mar 2021); operating margins swing -11.15% to +6.43%. Verify whether cyclical demand, operational issues, or structural weaknesses drive instability.
Minimal institutional interest: FII 0%, DII 0.19% on ₹177.23 Cr market cap. Micro-cap status limits capital access and analyst coverage.
Industrial sector cyclicality: manufacturing demand is sensitive to economic cycles and capital spending; verify current and forward demand exposure for carbide and tool products.

Generated analysis · source review pending

Growth drivers

Revenue return to ₹10.29 Cr (Mar 2021) at prior 3.89% OPM would restore ₹0.29 Cr profitability and positive EPS.
Operating margin expansion to 6%+ levels achieved in Sep 2019 and Jun 2019 would deliver significant earnings uplift across the ₹7–10 Cr revenue base.
Moderate debt-to-equity of 0.34 provides capacity for capex or working-capital expansion; verify if management plans production scaling or new product lines.
Verify if industrial-sector tailwinds in infrastructure capex or manufacturing activity are benefiting carbide/tool demand, given company achieved ₹10.29 Cr revenue and ₹0.29 Cr profit in Mar 2021.

Generated analysis · source review pending

2,157 historical price candles were omitted because the exchange source has not been verified.

₹269.8-8.9%1Y

Quick read

rule-based

Pros

+Revenue CAGR of 28% over the last 5 years
+Almost debt-free (debt/equity 0)

Cons

−Low return on equity of 0.3% (3-yr avg)
−Thin operating margin of 3.1%

Research score

Structured signal from quality, growth, valuation and momentum.

68/100

Business quality: 34
Growth: 96
Valuation: 74

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	33	42	43	46	34	28	36	40	60	42	96
COGS	-20	-26	-25	-30	-23	19	26	30	46	29	79
Gross profit	—	—	—	—	—	9	10	10	14	13	18
	50	62	63	72	56	9	10	10	12	14	15
	3	5	5	5	1	-0	0	-0	1	-1	3
OPM %	10%	12.3%	12.5%	10.4%	2.2%	-1.1%	0.4%	-0.6%	2.4%	-2.5%	3.1%
Depreciation	1	1	1	1	1	1	1	1	1	1	1
Interest	0	0	0	0	0	0	0	0	0	1	1
	0	—	—	—	—	0	0	0	0	0	0
Profit before tax	2	4	4	4	-0	-1	-1	-1	1	-2	2
Tax	1	1	1	1	-0	-0	0	0	0	0	0
Tax %	38.8%	32.2%	26.5%	23.9%	-81%	-32.2%	65.6%	20.4%	12.5%	3.6%	2.4%
	1	3	3	3	-0	-1	-1	-1	0	-2	2
PAT margin %	4.3%	7%	7.4%	6.1%	-0.2%	-2.9%	-2.9%	-3.4%	0.8%	-5.6%	2.1%
EPS (₹)	2.7	5.5	4.9	4.9	-0.2	-1.5	-2	-2.5	0.9	-4.3	3.8
EPS adjusted (₹)	—	—	—	—	-0.2	-1.5	-2	-2.5	0.9	-4.3	3.8
	44.4%	27.2%	37%	30.4%	—	—	—	—	0%	—	—
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

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Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	32.8%	28.8%	24.5%	23.1%	30%	18.2%
EBITDA margin %	10.4%	2.2%	-1.1%	0.4%	-0.6%	2.4%	-2.5%	3.1%
EBIT margin %	8.5%	-0.3%	-3.9%	-1.5%	-2.1%	1.5%	-3.7%	2.5%
PAT margin %	6.1%	-0.2%	-2.9%	-2.9%	-3.4%	0.8%	-5.6%	2.1%
Working capital
Receivable days	—	—	92	105	96	53	57	24
Inventory days	—	—	284	224	214	153	220	179
Payable days	—	—	108	71	81	64	36	47
NWC days	—	—	269	258	229	142	240	156
Leverage
Current ratio	—	—	3.76	3.13	2.47	2.67	2.36	1.38
Debt to EBITDA	—	—	—	16.69	—	0.86	—	0
Debt to equity	—	—	0	0.1	0.16	0.06	0.34	0
Interest coverage	17.1	-0.2	-7.6	-3.9	-2.9	2.2	-1.6	4.5
Asset turnover	—	—	0.89	1.12	1.16	1.79	1.32	1.47
Return ratios
Return on assets %	—	—	-2.6%	-3.3%	-4%	1.5%	-7.3%	3.1%
Return on capital employed %	—	—	-4.3%	-2.1%	-3.6%	4.6%	-6.4%	12.5%
Return on equity %	—	—	-3.5%	-4.7%	-6.3%	2.2%	-11.9%	9.5%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	40.46%	40.46%	40.46%	40.46%	40.46%	40.46%	40.46%	40.46%	40.46%	41.72%	41.72%	41.72%
FII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	0.03%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.19%	0.19%	0.19%	0.19%
	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	59.51%	59.53%	59.53%	59.53%	59.53%	59.53%	59.53%	59.53%	59.35%	58.09%	58.09%	58.09%
No. of shareholders	—	—	—	—	—	—	—	—	4,187	4,045	4,035	4,006

Promoter holding up 1.26 percentage points since Sep 2023.

8 deals · 29 Dec 2021 – 26 Aug 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
26 Aug 2026	MAHENDRA GIRDHARILAL WADHWANI	Bulk	BSE	Sell	34,745	₹370.80	₹1.29 Cr
2 Jul 2025	SARAS INVESTMENT	Bulk	BSE	Sell	64,660	₹127.87	₹0.83 Cr
16 Jul 2024	OCEAN INVESTMENTS PRIVATE TRUST	Bulk	BSE	Buy	35,000	₹171.17	₹0.60 Cr
18 Oct 2023	SARAS INVESTMENT	Bulk	BSE	Buy	46,500	₹75.24	₹0.35 Cr
18 Oct 2023	RIDHI SIDHI DISTRIBUTORS PVT. LTD.	Bulk	BSE	Sell	30,000	₹75.24	₹0.23 Cr
17 Oct 2023	SARAS INVESTMENT	Bulk	BSE	Buy	43,500	₹71.52	₹0.31 Cr
29 Dec 2021	GUBBI VIJAYAKUMAR NAGABRAHMA	Bulk	BSE	Sell	52,576	₹52.69	₹0.28 Cr
29 Dec 2021	MILIND KISHORE MADHANI HUF	Bulk	BSE	Buy	30,000	₹53.10	₹0.16 Cr

1–8 of 8

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Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Abhishek Vipinchandra GamiChairperson & Managing Director
Nrupang Bhumitra DholakiaIndependent Director
Mr. Kishore Dindayal SharmaNon Executive Independent Director
Smt. Shruti Abhishek GamiNon-Executive - Non-Independent Woman Director
Mr. Atul Ravindra GargIndependent Director
Mr. Kamlesh ShindeCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Rapicut Carbides Ltd. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

58 announcementsExport CSV

29 Sept 2026, 4:03 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

4 Sept 2026, 1:23 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

3 Sept 2026, 8:00 pmCompany Update

Dispatch Of Letter To Shareholders Whose Email Addresses Are Not Available For Providing Details To Access The Annual Report For FY 2025-26.

General PDF

2 Sept 2026, 9:15 pmOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

2 Sept 2026, 9:07 pmAGM/EGM

49Th Annual General Meeting Of The Company Will Be Held On Saturday, 26Th September, 2026 At 12.30 Pm IST Through Video Conferencing / Other Audio Visual Means.

AGM PDF

1 Sept 2026, 12:43 pmCompany Update

Newspaper Publication Of 49Th Annual General Meeting Of The Company.

General PDF

31 Aug 2026, 6:42 pmCompany Update

Typographical Error In The Submission Made By The Company Pertaining To Outcome Of Board Meeting Held On 31St August, 2026 And Submission Pertaining To Appointment Of Statutory Auditors Submitted On 31St August, 2026.

General PDF

31 Aug 2026, 3:31 pmCompany Update

Appointment Of Secretarial Auditors Of The Company.

General PDF

Date	Category	Subject	Filing
29 Sept 2026, 4:03 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
4 Sept 2026, 1:23 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	32.8%	28.8%	24.5%	23.1%	30%	18.2%
EBITDA margin %	10.4%	2.2%	-1.1%	0.4%	-0.6%	2.4%	-2.5%	3.1%
EBIT margin %	8.5%	-0.3%	-3.9%	-1.5%	-2.1%	1.5%	-3.7%	2.5%
PAT margin %	6.1%	-0.2%	-2.9%	-2.9%	-3.4%	0.8%	-5.6%	2.1%
Working capital
Receivable days	—	—	92	105	96	53	57	24
Inventory days	—	—	284	224	214	153	220	179
Payable days	—	—	108	71	81	64	36	47
NWC days	—	—	269	258	229	142	240	156
Leverage
Current ratio	—	—	3.76	3.13	2.47	2.67	2.36	1.38
Debt to EBITDA	—	—	—	16.69	—	0.86	—	0
Debt to equity	—	—	0	0.1	0.16	0.06	0.34	0
Interest coverage	17.1	-0.2	-7.6	-3.9	-2.9	2.2	-1.6	4.5
Asset turnover	—	—	0.89	1.12	1.16	1.79	1.32	1.47
Return ratios
Return on assets %	—	—	-2.6%	-3.3%	-4%	1.5%	-7.3%	3.1%
Return on capital employed %	—	—	-4.3%	-2.1%	-3.6%	4.6%	-6.4%	12.5%
Return on equity %	—	—	-3.5%	-4.7%	-6.3%	2.2%	-11.9%	9.5%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Indo-Mim LimitedINDOMIMINDOMIM	₹62,891 Cr	₹63,981 Cr	₹4,193 Cr	₹1,071 Cr	25.5%	₹534 Cr	12.7%	29.6%	21.3%	—
Aditya Infotech LimitedCPPLUSCPPLUS	₹44,797 Cr	₹44,910 Cr	₹4,883 Cr	₹709 Cr	13.4%	₹477 Cr	8.7%	33.8%	25.5%	61
Syrma Sgs Technology LimitedSYRMASYRMA	₹33,121 Cr	₹33,474 Cr	₹5,464 Cr	₹610 Cr	11.3%	₹402 Cr	7.2%	18.7%	15%	48
Honeywell Automation India LimitedHONAUTHONAUT	₹29,454 Cr	₹29,454 Cr	₹4,703 Cr	₹637 Cr	12.9%	₹551 Cr	11.2%	16.7%	12.4%	-12
Jyoti Cnc Automation LimitedJYOTICNCJYOTICNC	₹23,470 Cr	₹24,320 Cr	₹2,191 Cr	₹535 Cr	25.2%	₹322 Cr	16.1%	25.3%	18.2%	359
Kaynes Technology India LimitedKAYNESKAYNES	₹22,773 Cr	₹23,648 Cr	₹3,899 Cr	₹609 Cr	15.8%	₹346 Cr	10%	15.4%	9.6%	193
Lmw LimitedLMWLMW	₹17,706 Cr	₹17,706 Cr	₹3,374 Cr	₹219 Cr	5.3%	₹175 Cr	4.1%	6.4%	4.6%	23
Tega Industries LimitedTEGATEGA	₹15,721 Cr	₹16,039 Cr	₹3,059 Cr	₹231 Cr	13.7%	₹21 Cr	8.4%	8.5%	5.9%	153
Lloyds Engineering Works LimitedLLOYDSENGGLLOYDSENGG	₹14,553 Cr	₹14,587 Cr	₹1,611 Cr	₹229 Cr	14.5%	₹163 Cr	15.2%	17.5%	16.4%	184
Kennametal India LimitedKENNAMETKENNAMET	₹9,411 Cr	₹9,411 Cr	₹991 Cr	₹179 Cr	18.1%	₹114 Cr	11.5%	24.5%	18.5%	170
Dynamatic Technologies LimitedDYNAMATECHDYNAMATECH	₹9,354 Cr	₹9,883 Cr	₹1,675 Cr	₹200 Cr	11.3%	₹42 Cr	2%	12.3%	4.3%	142
Standard Engineering Technology LimitedSETLSETL	₹8,318 Cr	₹8,376 Cr	₹849 Cr	₹129 Cr	15.4%	₹89 Cr	10.7%	15.5%	10.7%	335

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	5	5	5	5	5	5	5
Reserves	—	18	17	16	17	14	16
	—	0	2	3	1	7	0
	—	8	8	9	10	6	44
Total equity & liabilities	—	32	32	34	34	32	66
	5	4	4	4	5	5	5
CWIP	—	0	0	0	0	0	1
Investments	—	0	0	0	0	0	0
	—	27	28	29	29	27	59
Total assets	—	32	32	34	34	32	66

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	5	-5	-0	3	-4	12
	-0	-0	-1	-0	-1	-1
	-2	2	1	-3	5	-7
Net cash flow	3	-3	0	-0	0	3
Free cash flow	5	-5	-1	2	-5	10
CFO / Operating profit %	—	—	—	200%	—	393.7%

Compounded sales growth

7 years: 11%
5 years: 28%
3 years: 35%
1 year: 129%

Compounded profit growth

7 years: -5%
5 years: —
3 years: —
1 year: —

Return on equity

7 years: -2%
5 years: -2%
3 years: -0%
Last year: 10%

Rapicut Carbides Ltd

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Dividends12

Board meetings1

Bonus issues1

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

12

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