Rites Limited (RITES) · mywealthgrid

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About

RITES Limited operates in civil construction, Industrials sector, with ₹10,624 Cr market cap. Zero-debt balance sheet and 23% operating margins demonstrate strong financial positioning.

Founded: 1974
Face value: ₹10

Market cap

₹10,068 Cr

P/E

24.1×

P/B

3.8×

Dividend yield

3.8%

ROE

15.4%

ROCE

19.3%

Debt / equity

OPM

22.9%

EPS (TTM)

₹8.7

Book value

₹55.8

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

PE 25.45x high relative to margin volatility: June 2026 OPM fell to 17.16% from 23.36% (Dec 2025), raising cost-control concerns
Revenue lumpiness (₹498–768 Cr quarterly range) with sharp recent drop to ₹498 Cr suggests project delays—verify contract backlog and pipeline
Construction tied to infrastructure spending cycles; verify if RITES depends on government capex or public sector projects and exposure to policy shifts
Stock down 11.89% in 1 year despite healthy ROE signals market skepticism—verify pending project delays, contract losses, or growth concerns

Generated analysis · source review pending

Growth drivers

Zero debt (D/E 0) enables large project bids and execution without leverage constraints
Six dividend announcements in past 12 months signal cash generation and reinvestable surplus
22.94% operating margins support reinvestment without dilution

Generated analysis · source review pending

2,033 historical price candles were omitted because the exchange source has not been verified.

₹209.5+8.9%1Y

Quick read

rule-based

Pros

+High return on capital employed of 20.4%
+Healthy operating margin of 22.9%
+Profit CAGR of 103.2% over the last 5 years
+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 157.3×
+Dividend yield of 3.8%
+Dividend payout of 92.7% of profit
+High promoter holding of 72.2% with no pledge

Cons

−Modest revenue growth of 5.4% a year over the last 5 years

Research score

Structured signal from quality, growth, valuation and momentum.

50/100

Business quality: 70

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.

Part ofNIFTY SMALLCAP 250 NIFTY MIDSMALLCAP 400 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry Compare top 5 side-by-side

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Financials

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

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,103	1,351	1,497	2,047	2,474	1,860	2,662	2,628	2,453	2,218	2,415
COGS	—	—	40	-96	95	-279	151	89	25	-71	43
Gross profit	—	—	1,457	—	2,380	—	2,511	2,540	2,428	—	2,372
	—	—	—	—	1,711	1,634	1,787	1,715	1,778	1,761	1,804
	—	—	—	—	668	505	724	825	650	527	568
OPM %	—	—	—	—	27%	27.2%	27.2%	31.4%	26.5%	23.8%	23.5%
Depreciation	37	38	36	38	47	52	66	146	61	62	66
Interest	—	12	11	8	7	6	7	7	5	6	4
	211	210	154	192	260	145	84	102	86	106	109
Profit before tax	518	—	519	730	874	593	735	774	670	565	608
Tax	—	-155	162	240	241	148	197	203	175	141	153
Tax %	—	—	31.2%	32.9%	27.6%	25%	26.7%	26.2%	26.1%	25%	25.2%
	340	337	357	490	633	444	539	571	495	424	454
PAT margin %	30.9%	24.9%	23.8%	23.9%	25.6%	23.9%	20.2%	21.7%	20.2%	19.1%	18.8%
EPS (₹)	33.9	—	—	—	24.6	17.5	21.5	22.6	19	8	8.5
EPS adjusted (₹)	13.6	13.1	6.9	9.4	12.7	0.3	10.7	11.3	9.5	8	8.5
	0%	—	—	—	64.9%	74.1%	79.1%	90.9%	95%	109.9%	93.1%
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	—

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	100	100	200	200	250	240	240	240	240	481	481
Reserves	1,707	1,785	1,851	2,222	2,383	2,152	2,248	2,363	2,369	2,160	2,201
Minority interest	—	—	—	—	—	88	106	115	112	109	113
	159	111	76	40	33	32	25	0	0	0	0
	2,546	2,435	2,682	2,964	3,269	3,321	3,203	3,253	2,941	3,370	3,132
Total equity & liabilities	4,511	4,430	4,809	5,426	5,935	5,833	5,822	5,972	5,661	6,119	5,926
	475	419	405	477	567	584	560	552	535	596	584
CWIP	33	7	4	2	4	15	58	101	174	48	88
Investments	221	251	328	253	261	289	205	130	109	405	387
	3,782	3,754	4,072	4,694	5,103	4,944	5,000	5,189	4,843	5,071	4,868
Total assets	4,511	4,430	4,809	5,426	5,935	5,833	5,822	5,972	5,661	6,119	5,926

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities
Consultancy - Domestic	1,242.01	498.99	0	0
Turnkey Construction Projects	602.4	9.73	0	0
Export Sale	316.25

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Ratios

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

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	96.2%	—	94.3%	96.6%	99%	—	98.2%
EBITDA margin %	—	26.7%	27.1%	27.2%	31.4%	26.5%	23.2%	22.9%
EBIT margin %	—	24.8%	24.3%	24.7%	25.8%	24%	20.4%	20.2%
PAT margin %	23.9%	25.6%	23.9%	20.2%	21.7%	20.2%	19.1%	18.8%
Working capital
Receivable days	109	124	115	101	126	134	122	141
Inventory days	—	41	77	287	127	73	17	293
Payable days	—	33	80	438	1,244	3,238	78	2,709
NWC days	—	132	112	-49	-990	-3,032	60	-2,276
Leverage
Current ratio	1.68	1.73	1.55	1.55	1.64	1.65	1.53	1.67
Debt to EBITDA	—	0.05	0.06	0.03	0	0	0	0
Debt to equity	0.02	0.01	0.01	0.01	0	0	0	0
Interest coverage	19.2	126.2	99.4	102.3	110.9	143.3	96.3	157.3
Asset turnover	0.38	0.42	0.32	0.46	0.44	0.43	0.36	0.41
Return ratios
Return on assets %	9%	10.7%	7.6%	9.3%	9.6%	8.7%	6.9%	7.7%
Return on capital employed %	5.9%	30.4%	20.7%	26.7%	26.8%	22.7%	19.1%	19.3%
Return on equity %	20.2%	24%	18.6%	21.6%	21.9%	19%	16%	16.9%

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
	72.2%	72.2%	72.2%	72.2%	72.2%	72.2%	72.2%	72.2%	72.2%	72.2%	72.2%	72.2%
	3.98%	3.21%	4.18%	3.5%	3.19%	3.34%	3.33%	3.47%	3.52%	3.46%	3.47%	3.43%
	12.72%	12.28%	11.1%	10.78%	9.64%	8.83%	8.67%	8.64%	8.66%	8.64%	8.7%	8.75%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	11.1%	12.31%	12.52%	13.52%	14.97%	15.63%	15.8%	15.69%	15.62%	15.7%	15.63%	15.62%
No. of shareholders	—	—	—	—	—	—	—	—	4,03,176	3,92,562	3,86,213	3,79,928

Promoter holding up 0 percentage points since Sep 2023.

41 deals · 13 Jul 2022 – 7 Jul 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
7 Jul 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Sell	53,47,602	₹237.73	₹127.13 Cr
7 Jul 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Buy	53,47,602	₹237.52	₹127.02 Cr
7 Jul 2026	QE SECURITIES LLP	Bulk	NSE	Sell	43,58,013	₹236.00	₹102.85 Cr
7 Jul 2026	QE SECURITIES LLP	Bulk	NSE	Buy	43,47,541	₹237.62	₹103.31 Cr
7 Jul 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Buy	32,66,363	₹237.03	₹77.42 Cr
7 Jul 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Sell	32,66,363	₹237.14	₹77.46 Cr
7 Jul 2026	JUMP TRADING FINANCIAL INDIA PRIVATE LIMITED	Bulk	NSE	Sell	29,53,484	₹237.44	₹70.13 Cr
7 Jul 2026	JUMP TRADING FINANCIAL INDIA PRIVATE LIMITED	Bulk	NSE	Buy	29,53,484	₹237.21	₹70.06 Cr
1 Jul 2026	QE SECURITIES LLP	Bulk	NSE	Buy	45,30,603	₹229.68	₹104.06 Cr
1 Jul 2026	QE SECURITIES LLP	Bulk	NSE	Sell	45,30,508	₹229.22	₹103.85 Cr

1–10 of 41

1 / 5

Mr. RAHUL MITHALExecutive Director-Chairperson-CEO-MD
Mr. Mahesh SreenivasanChief Risk Officer
Mr. DEEPAK TRIPATHIExecutive Director
Mr. KRISHNA GOPAL AGARWALExecutive Director
Mr. PREM SINGH MEENAExecutive Director
Mr. JAYANT KUMARNon-Executive - Nominee Director
Mr. ATUL SINGHNon-Executive - Nominee Director
Mr. RAJBIR SHARMANon-Executive - Independent Director
Mr. DINESHANANDA GOSWAMINon-Executive - Independent Director
Mr. Nikhil AgarwalCompany 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.

Portfolio month

Schemes holding

across 8 fund houses

Held by these funds

2.14%

of the company's equity

All mutual funds

2.32%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

30 schemes · 8 fund houses

		Shares
SMALL CAP FUND	Nippon India Mutual Fund	92 L	200.96	0.24%	1.914%	-0
IB32-Groww Nifty India Railways PSU ETF	Groww Mutual Fund	2.58 L	5.63	3.31%	0.054%	+32,589
Nifty Smallcap 250 Index Fund	Nippon India Mutual Fund	2.14 L	4.66	0.13%	0.044%	+2,611
Nifty Smallcap250 Quality 50 Index Fund	DSP Mutual Fund	1.42 L	3.1	0.98%	0.029%	-131
Nifty Smallcap 250 Index Fund	SBI Mutual Fund	1.09 L	2.37	0.13%	0.023%	+1,213
IB31-Groww Nifty India Railways PSU IndexNEW	Groww Mutual Fund	91,105	1.99	3.32%	0.019%	—
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	78,667	1.72	0.13%	0.016%	+714
Nifty Smallcap 250 Index Fund	ICICI Prudential Mutual Fund	47,867	1.05	0.13%	0.01%	+971

1–8 of 30

1 / 4

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Documents

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

Announcements

Clarification with respect to Movement in Volume of Shares1 Oct 2026 · General
The Exchange has sought clarification from RITES Ltd on October 1, 2026, with reference to Movement in Volume.<BR><BR>The reply is awaited.1 Oct 2026 · Clarification
Intimation for Closure of Trading Window for the quarter and half year ending on September 30, 202628 Sept 2026 · Closure of Trading Window
Update regarding Major Order Secured

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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

12 announcementsExport CSV

1 Oct 2026, 4:58 pmCompany Update

Clarification With Respect To Movement In Volume Of Shares

General PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	96.2%	—	94.3%	96.6%	99%	—	98.2%
EBITDA margin %	—	26.7%	27.1%	27.2%	31.4%	26.5%	23.2%	22.9%
EBIT margin %	—	24.8%	24.3%	24.7%	25.8%	24%	20.4%	20.2%
PAT margin %	23.9%	25.6%	23.9%	20.2%	21.7%	20.2%	19.1%	18.8%
Working capital
Receivable days	109	124	115	101	126	134	122	141
Inventory days	—	41	77	287	127	73	17	293
Payable days	—	33	80	438	1,244	3,238	78	2,709
NWC days	—	132	112	-49	-990	-3,032	60	-2,276
Leverage
Current ratio	1.68	1.73	1.55	1.55	1.64	1.65	1.53	1.67
Debt to EBITDA	—	0.05	0.06	0.03	0	0	0	0
Debt to equity	0.02	0.01	0.01	0.01	0	0	0	0
Interest coverage	19.2	126.2	99.4	102.3	110.9	143.3	96.3	157.3
Asset turnover	0.38	0.42	0.32	0.46	0.44	0.43	0.36	0.41
Return ratios
Return on assets %	9%	10.7%	7.6%	9.3%	9.6%	8.7%	6.9%	7.7%
Return on capital employed %	5.9%	30.4%	20.7%	26.7%	26.8%	22.7%	19.1%	19.3%
Return on equity %	20.2%	24%	18.6%	21.6%	21.9%	19%	16%	16.9%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Larsen & ToubroLTLT	₹5,05,996 Cr	₹6,27,679 Cr	₹2,90,137 Cr	₹28,950 Cr	10.2%	₹16,590 Cr	6.6%	15.4%	15.5%	-142
Rail Vikas Nigam LimitedRVNLRVNL	₹41,075 Cr	₹45,888 Cr	₹20,825 Cr	₹891 Cr	3.8%	₹900 Cr	4.3%	10.2%	9%	66
Kalpataru Projects International LimitedKPILKPIL	₹23,167 Cr	₹26,474 Cr	₹27,380 Cr	₹2,277 Cr	8.3%	₹1,136 Cr	3.8%	20.3%	14.6%	-94
Nbcc (India) LimitedNBCCNBCC	₹20,898 Cr	₹20,898 Cr	₹12,752 Cr	₹656 Cr	4.8%	₹743 Cr	5.8%	29.3%	26.2%	-7,663
Irb Infrastructure Developers LimitedIRBIRB	₹20,533 Cr	₹40,541 Cr	₹7,686 Cr	₹4,182 Cr	52.1%	₹954 Cr	11.1%	6.1%	4.2%	67
Cemindia Projects LimitedCEMPROCEMPRO	₹20,254 Cr	₹21,120 Cr	₹10,185 Cr	₹1,058 Cr	10.2%	₹602 Cr	5.9%	44.8%	28.2%	-110
Engineers India LimitedENGINERSINENGINERSIN	₹17,577 Cr	₹17,577 Cr	₹3,878 Cr	₹750 Cr	17.7%	₹784 Cr	17.6%	28.8%	23.8%	-22
Techno Electric & Engineering Company LimitedTECHNOETECHNOE	₹11,614 Cr	₹11,686 Cr	₹3,356 Cr	₹469 Cr	14.2%	₹431 Cr	14.6%	13.6%	12%	-33
Ircon International LimitedIRCONIRCON	₹10,369 Cr	₹16,033 Cr	₹9,241 Cr	₹771 Cr	8.4%	₹524 Cr	6.5%	7.8%	9.2%	-469
Rites LimitedRITESRITES	₹10,068 Cr	₹10,068 Cr	₹2,458 Cr	₹555 Cr	22.9%	₹417 Cr	18.8%	19.3%	15.4%	-2,276
Welspun Enterprises LimitedWELENTWELENT	₹10,026 Cr	₹11,998 Cr	₹3,544 Cr	₹716 Cr	20.7%	₹308 Cr	10.9%	17.3%	12.5%	-422
Kec International LimitedKECKEC	₹9,912 Cr	₹15,015 Cr	₹23,506 Cr	₹1,599 Cr	7.1%	₹554 Cr	2.6%	23.1%	10.5%	-132

Date	Category	Subject	Filing
1 Oct 2026, 4:58 pm	Company Update General	Clarification With Respect To Movement In Volume Of Shares	PDF
1 Oct 2026, 3:10 pm	Company Update Clarification	Clarification sought from RITES Ltd	—
28 Sept 2026, 11:11 am	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
22 Sept 2026, 2:06 pm	Company Update Award of Order / Receipt of Order	Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order	PDF
18 Sept 2026, 6:38 pm	Company Update General	Intimation Of ESG Rating By Niche Ninety Nine Capability And Certifications (OPC) Private Limited	PDF
8 Sept 2026, 9:36 pm	Company Update General	Appointment Of Statutory Auditors By Comptroller & Auditor General Of India For The Financial Year 2026-27	PDF
4 Sept 2026, 3:03 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
3 Sept 2026, 5:58 pm	Others Business Responsibility and Sustainability Reporting (BRSR)	Business Responsibility and Sustainability Reporting (BRSR)	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	463	555	410	164	317	516	310	735	106	651	166
	-570	-58	-459	137	38	183	53	-15	11	-219	126
	39	-215	-217	-279	-419	-708	-440	-483	-504	-405	-424
Net cash flow	-18	284	-261	24	-52	-9	-78	237	-387	27	-131
Free cash flow	—	—	—	—	—	436	168	599	-32	519	104
CFO / Operating profit %	—	—	—	—	48%	102.3%	42.8%	89.1%	16.3%	126.5%	30%

Rites Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

31

1

2

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

CONSULTANCY-ABROAD · revenue

Rites Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Dividends31

Board meetings1

Bonus issues2

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

CONSULTANCY-ABROAD · revenue

31

1

2