Rattanindia Power Limited (RTNPOWER)

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Rattanindia Power Limited (RTNPOWER) · mywealthgrid

About

Rattanindia Power Limited is a power generation company in the utilities sector with a market cap of ₹4,537.73 Cr and quarterly revenues in the ₹650–800 Cr range. The company experienced a significant operational disruption in September 2025 (net loss of ₹33.02 Cr) but returned to profitability in subsequent quarters with recovered margins.

Face value: ₹10

Market cap

₹3,619 Cr

P/E

32.5×

P/B

0.8×

Dividend yield

ROE

1.1%

ROCE

6.1%

Debt / equity

0.78

OPM

13.6%

EPS (TTM)

₹0.2

Book value

₹8.6

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Operational volatility and earnings instability: September 2025 quarter showed a loss of ₹33.02 Cr with OPM collapsed to 6.5%; root cause and recurrence risk should be verified.

Valuation-earnings disconnect: PE of 40.73 appears elevated relative to ROE of 1.14% and stock's 1-year return of −30.11%, signaling investor uncertainty about sustainable profitability.

Margin compression in recent quarters: OPM declined from peak of 17.51% (Dec 2025) to 14.5% (Jun 2026), suggesting pressures on cost or pricing despite revenue growth.

Sector-wide risks: power generation profitability depends on fuel costs, grid tariff outcomes, and regulatory dispatch rules—verify contract mix and commodity exposure.

Generated analysis · source review pending

Growth drivers

Revenue growth from ₹653.72 Cr (Sep 2025) to ₹798.55 Cr (Jun 2026) reflects 22% expansion over nine months.

Operating margin recovery to 15–17% (Dec 2025–Mar 2026) from trough of 6.5% (Sep 2025) indicates resolution of operational issues.

Consistent profitability across three consecutive quarters (Dec 2025–Jun 2026) with net profits ₹41–54 Cr and positive EPS ₹0.08–0.10 suggests stabilized operations post-disruption.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹6.7-1.9%1Y

Quick read

rule-based

Pros

+Strong return on equity of 70% (3-yr avg)

Cons

−Weak interest coverage of 1.1×

Research score

Structured signal from quality, growth, valuation and momentum.

27/100

Business quality: 19
Growth: 4
Valuation: 59

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 MICROCAP 250 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 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,774	1,560	3,260	3,231	3,364	3,284	2,991
COGS	910	730	2,251	2,239	2,473	2,427	2,315
Gross profit	864	830	1,009	992	891	857	677
	396	190	206	254	245	273	271
	468	640	803	738	646	585	405
OPM %	26.4%	41%	24.6%	22.8%	19.2%	17.8%	13.6%
Depreciation	417	416	414	404	382	241	246
Interest	2,764	2,241	2,342	2,511	2,363	479	461
	2,878	1,074	-28	328	10,976	357	355
Profit before tax	165	-942	-1,981	-1,849	8,876	222	52
Tax	0	0	0	20	-20	0	0
Tax %	0%	0%	0%	1.1%	-0.2%	0%	0%
	165	-942	-1,981	-1,870	8,897	222	52
PAT margin %	9.3%	-60.4%	-60.8%	-57.9%	264.5%	6.8%	1.8%
EPS (₹)	0.5	-1.9	-3.7	-3.5	16.6	0.4	0.1
EPS adjusted (₹)	0.3	-1.8	-3.7	-3.5	16.6	0.4	0.1
Annual report	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	2,750	2,845	2,945	2,953	4,940	5,370	5,370	5,370	5,370	5,370	5,370
Reserves	2,342	1,223	-447	-3,711	-4,510	-5,995	-8,032	-9,903	-1,006	-785	-732
	10,879	13,769	12,660	11,172	10,169	12,238	11,508	10,985	3,538	3,540	3,637
	2,537	3,370	6,211	9,027	8,496	7,003	8,812	10,920	1,664	1,672	1,338
Total equity & liabilities	18,508	21,207	21,370	19,441	19,095	18,615	17,658	17,372	9,566	9,796	9,613
	8,502	10,793	15,011	14,592	14,177	13,995	13,381	13,051	6,412	6,253	6,103
CWIP	6,520	6,339	2,283	2,354	1,584	1,574	1,142	1,110	67	65	21
Investments	70	70	10	193	275	0	4	8	0	0	0
	3,416	4,005	4,066	2,301	3,060	3,046	3,131	3,203	3,087	3,478	3,489
Total assets	18,508	21,207	21,370	19,441	19,095	18,615	17,658	17,372	9,566	9,796	9,613

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Ratios

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

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	48.7%	53.2%	30.9%	30.7%	26.5%	26.1%	22.6%
EBITDA margin %	26.4%	41%	24.6%	22.8%	19.2%	17.8%	13.6%
EBIT margin %	2.9%	14.4%	11.9%	10.3%	7.8%	10.5%	5.3%
PAT margin %	9.3%	-60.4%	-60.8%	-57.9%	264.5%	6.8%	1.8%
Working capital
Receivable days	316	457	248	281	224	271	336
Inventory days	262	139	22	22	35	40	32
Payable days	5	13	7	46	24	26	24
NWC days	574	582	262	258	235	284	344
Leverage
Current ratio	0.41	0.33	0.25	0.17	2.28	2.95	2.24
Debt to EBITDA	21.73	19.12	14.33	14.89	5.48	6.05	8.97
Debt to equity	23.67	-19.58	-4.32	-2.42	0.81	0.77	0.78
Interest coverage	0.1	0.6	0.3	0.3	0.3	1.5	1.1
Asset turnover	0.09	0.08	0.18	0.19	0.35	0.34	0.31
Return ratios
Return on assets %	0.9%	-5.1%	-11.2%	-10.8%	93%	2.3%	0.5%
Return on capital employed %	2.2%	12.1%	10.5%	29.8%	7.3%	8.2%	6.1%
Return on equity %	38.4%	150.7%	74.4%	41.3%	203.9%	4.8%	1.1%

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
	44.06%	44.06%	44.06%	44.06%	44.06%	44.06%	44.06%	44.06%	44.06%	44.06%	44.06%	44.06%
	0.48%	0.76%	2.03%	3.7%	4.39%	5.02%	5.25%	4.96%	5.13%	5.22%	5.13%	5.26%
	7.21%	6.95%	6.67%	6.63%	6.58%	6.53%	6.66%	6.67%	6.65%	6.65%	6.62%	6.58%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	48.25%	48.23%	47.24%	45.61%	44.97%	44.39%	44.03%	44.31%	44.16%	44.07%	44.19%	44.1%
No. of shareholders	—	—	—	—	—	—	—	—	20,51,565	19,86,077	19,43,756	19,11,791

Promoter holding up 0 percentage points since Sep 2023.

32 deals · 29 Mar 2022 – 11 Jun 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
11 Jun 2025	AAKRAYA RESEARCH LLP	Bulk	NSE	Buy	3,52,07,571	₹15.41	₹54.25 Cr
11 Jun 2025	AAKRAYA RESEARCH LLP	Bulk	NSE	Sell	3,52,07,443	₹15.42	₹54.29 Cr
11 Jun 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	2,76,39,493	₹15.42	₹42.62 Cr
11 Jun 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	2,76,39,493	₹15.41	₹42.59 Cr
21 May 2024	TOPGAIN FINANCE PRIVATE LIMITED	Bulk	NSE	Sell	3,00,00,000	₹14.09	₹42.27 Cr
21 May 2024	TOPGAIN FINANCE PRIVATE LIMITED	Bulk	NSE	Buy	3,00,00,000	₹13.96	₹41.88 Cr
16 May 2024	MANSI SHARE AND STOCK ADVISORS PVT LTD	Bulk	NSE	Buy	3,76,53,600	₹12.60	₹47.44 Cr
16 May 2024	MANSI SHARE AND STOCK ADVISORS PVT LTD	Bulk	NSE	Sell	2,76,53,595	₹12.59	₹34.82 Cr
7 Feb 2024	INDIABULLS REAL ESTATE LIMITED	Bulk	NSE	Sell	4,21,91,964	₹12.15	₹51.26 Cr
7 Feb 2024	MANSI SHARE AND STOCK ADVISORS PVT LTD	Bulk	NSE	Buy	3,12,69,589	₹12.15	₹37.99 Cr

1–10 of 32

1 / 4

Mr. Rajiv RattanExecutive Director-Chairperson related to Promoter
Mr. Himanshu MathurExecutive Director
Mrs. Pritika PooniaNon-Executive - Independent Director
Mr. Ajay Kumar TandonNon-Executive - Independent Director
Mr. Virender SinghNon-Executive - Independent Director
Mr. Ravi Kumar PakalapatiExecutive Director
Mr. Manish Ratnakar ChitnisChief Financial Officer
Mr. Lalit Narayan MathpatiCompany 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 2 fund houses

Held by these funds

0.13%

of the company's equity

All mutual funds

0.14%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

3 schemes · 2 fund houses

		Shares
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	69.81 L	5.24	0.21%	0.13%	-1.53 L
IB18-Groww Nifty Total Market Index Fund	Groww Mutual Fund	47,792	0.04	0.01%	0.001%	+222
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	7,964	0.01	0.01%	0%	+8

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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.

1

Board meeting to consider results24 Jul 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

3 announcementsExport CSV

28 Sept 2026, 1:09 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

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Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	48.7%	53.2%	30.9%	30.7%	26.5%	26.1%	22.6%
EBITDA margin %	26.4%	41%	24.6%	22.8%	19.2%	17.8%	13.6%
EBIT margin %	2.9%	14.4%	11.9%	10.3%	7.8%	10.5%	5.3%
PAT margin %	9.3%	-60.4%	-60.8%	-57.9%	264.5%	6.8%	1.8%
Working capital
Receivable days	316	457	248	281	224	271	336
Inventory days	262	139	22	22	35	40	32
Payable days	5	13	7	46	24	26	24
NWC days	574	582	262	258	235	284	344
Leverage
Current ratio	0.41	0.33	0.25	0.17	2.28	2.95	2.24
Debt to EBITDA	21.73	19.12	14.33	14.89	5.48	6.05	8.97
Debt to equity	23.67	-19.58	-4.32	-2.42	0.81	0.77	0.78
Interest coverage	0.1	0.6	0.3	0.3	0.3	1.5	1.1
Asset turnover	0.09	0.08	0.18	0.19	0.35	0.34	0.31
Return ratios
Return on assets %	0.9%	-5.1%	-11.2%	-10.8%	93%	2.3%	0.5%
Return on capital employed %	2.2%	12.1%	10.5%	29.8%	7.3%	8.2%	6.1%
Return on equity %	38.4%	150.7%	74.4%	41.3%	203.9%	4.8%	1.1%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Jsw Energy LimitedJSWENERGYJSWENERGY	₹88,925 Cr	₹1,64,771 Cr	₹18,965 Cr	₹10,149 Cr	53.3%	₹1,967 Cr	14.6%	8.6%	7.7%	28
Ntpc Green Energy LimitedNTPCGREENNTPCGREEN	₹76,755 Cr	₹1,06,013 Cr	₹3,285 Cr	₹2,860 Cr	86.6%	₹607 Cr	18.2%	3.3%	2.8%	-32
Nhpc LimitedNHPCNHPC	₹72,073 Cr	₹1,24,207 Cr	₹12,210 Cr	₹5,787 Cr	45.1%	₹3,797 Cr	36.3%	4.4%	9.3%	77
Nlc India LimitedNLCINDIANLCINDIA	₹35,109 Cr	₹62,911 Cr	₹18,381 Cr	₹6,125 Cr	32%	₹3,367 Cr	21.6%	8.2%	17.5%	171
Acme Solar Holdings LimitedACMESOLARACMESOLAR	₹30,577 Cr	₹49,565 Cr	₹2,370 Cr	₹2,058 Cr	88%	₹603 Cr	24.6%	8.5%	10.4%	63
Sjvn LimitedSJVNSJVN	₹22,757 Cr	₹54,860 Cr	₹5,005 Cr	₹3,492 Cr	74%	₹639 Cr	14.2%	5.9%	4.5%	100
Nava LimitedNAVANAVA	₹15,652 Cr	₹17,873 Cr	₹4,310 Cr	₹1,656 Cr	40%	₹756 Cr	24.2%	12.5%	9.6%	178
Juniper Green Energy LimitedJNPRJNPR	₹15,263 Cr	₹28,184 Cr	₹719 Cr	₹606 Cr	84.3%	₹40 Cr	5.6%	—	1.2%	—
Clean Max Enviro Energy Solutions LimitedCLEANMAXCLEANMAX	₹15,234 Cr	₹27,644 Cr	₹1,913 Cr	₹1,132 Cr	59.2%	₹94 Cr	4.5%	6.4%	2.6%	-1,192
Vedanta Power LimitedVEDPOWERVEDPOWER	₹12,814 Cr	₹18,646 Cr	₹5,453 Cr	₹1,040 Cr	19.1%	₹-1,713 Cr	-31.4%	11%	-88.4%	76
Jaiprakash Power Ventures LimitedJPPOWERJPPOWER	₹10,143 Cr	₹13,523 Cr	₹5,756 Cr	₹1,525 Cr	24.6%	₹641 Cr	8.1%	6.9%	3.6%	93
Reliance Power LimitedRPOWERRPOWER	₹8,028 Cr	₹22,840 Cr	₹7,690 Cr	₹2,361 Cr	31%	₹-319 Cr	-4.4%	6.1%	-2.1%	139

Date	Category	Subject	Filing
28 Sept 2026, 1:09 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
3 Sept 2026, 12:21 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
2 Sept 2026, 9:45 pm	Others Reg. 34 (1) Annual Report	Reg. 34 (1) Annual Report.	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	11	1,206	215	836	610	736	934	1,015	1,306	410	372
	-108	-493	-107	-161	-91	101	55	-5	-462	87	66
	169	-722	-235	-801	-476	-795	-952	-977	-902	-440	-605
Net cash flow	—	—	—	—	—	42	37	33	-58	57	-168
Free cash flow	—	—	-279	—	595	733	919	985	1,207	293	294
CFO / Operating profit %	—	—	—	—	130.4%	115.1%	116.3%	137.6%	202.2%	70.1%	91.8%

Rattanindia Power Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

1

Announcements

1

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Compounded sales growth

Compounded profit growth

Return on equity

Rattanindia Power Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

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

Board meetings1

Announcements

Board meetings1

Ratio timeline

Not in the F&O segment

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

1

1