BSE: 522207
RASANDIK ENGINEERING INDUSTRIE
Manufactures auto components and equipment, with operating plants in Haryana, Uttar Pradesh, and Maharashtra, alongside a stalled capital project at Singur, West Bengal that remains on the books as capital work-in-progress. Revenue from operations for FY26 was Rs. 6,767.78 lakhs, up from Rs. 6,217.64 lakhs in FY25, against a net loss of Rs. 669.14 lakhs. Raw materials account for 71.1% of revenue, with employees at 11.4%, other operating costs at 15.3%, and depreciation at 7.7%. Statutory auditors have flagged going concern risks, citing net current liabilities of Rs. 1,567.95 lakhs and contingent liabilities of Rs. 746.63 lakhs related to EPCG export obligations; a letter of financial support has been provided by the promoter and Managing Director. The company is also working to monetise plant equipment held for sale valued at Rs. 400 lakhs. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Auto Components & Equipment. Loss-making auto components manufacturer with going concern flagged by auditors
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 207 | 150 | 86 | 62 | 68 |
| EBITDA (ex other income) | 15 | 7 | (7) | (11) | 1 |
| margin % | 7.4 | 4.4 | (8.2) | (17.8) | 1.7 |
| Owners' profit | (3) | (3) | 7 | (6) | (7) |
| EPS, as reported (₹) | (4.53) | (5.52) | 11.93 | (9.35) | (11.20) |
| ROE % · ROCE % | (2.8) · 5.3 | (3.5) · 4.6 | 7.1 · 12.2 | (5.9) · (8.8) | (7.5) · (3.5) |
| Debt / equity (x) | 0.91 | 0.82 | 0.40 | 0.26 | 0.25 |
| Cash from operations | 12 | 13 | 2 | 5 | 1 |
| Capex | (1) | (3) | (1) | (1) | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 16 | 14 | 14 | 14 | 13 | 22 | 19 | 18 |
| Profit before tax | (3) | (10) | (1) | (1) | (2) | (1) | (2) | (1) |
| Net profit | (3) | (3) | (1) | (1) | (2) | (1) | (3) | (1) |
| EPS (₹) | (4.72) | (5.22) | (1.85) | (1.88) | (3.57) | (1.39) | (4.36) | (1.20) |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SAMVRDHNA MTHRSN INTL LTD | 1,69,176 | 38.6 | 3.87 | 15.1 | 9.4 | 8.2 | 17.1 | 9.0 |
| BOSCH LIMITED | 1,39,756 | 59.1 | 9.41 | 34.3 | 18.7 | 24.1 | 15.6 | 17.9 |
| BHARAT FORGE LTD | 83,937 | 118.9 | 8.78 | 30.3 | 11.4 | 13.2 | 21.6 | 8.8 |
| UNO MINDA LIMITED | 63,520 | 52.8 | 8.75 | 29.1 | 17.7 | 15.7 | 25.3 | 10.4 |
| SCHAEFFLER INDIA LIMITED | 56,735 | 45.3 | 9.23 | — | 10.4 | 14.1 | — | 19.4 |
| SONA BLW PRECISION FRGS L | 54,705 | 78.5 | 8.92 | 47.5 | 10.3 | 12.9 | — | 25.1 |
| TUBE INVEST OF INDIA LTD | 41,237 | 67.9 | 2.90 | 15.9 | 7.9 | 12.4 | 30.3 | 10.6 |
| ENDURANCE TECHNO. LTD. | 32,484 | 33.5 | 4.75 | 15.9 | 13.9 | 15.6 | 17.4 | 13.2 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 0.4 | 3.2 | 3 of 117 | 98% |
| ROCE | (5.9) | 12.6 | 121 of 125 | 3% |
| ROE | (7.5) | 11.7 | 114 of 117 | 3% |
| Debt / Equity | 0.3 | 0.3 | 55 of 117 | 53% |
| EBITDA margin | 4.5 | 12.2 | 108 of 118 | 9% |
| Revenue growth | 26.9 | 20.2 | 38 of 113 | 67% |
| Profit growth | 36.4 | 24.4 | 45 of 115 | 61% |
| Market cap | 34 | 1460 | 120 of 126 | 5% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 16 Oct 2026 · Reg 74(5) Compliance Certificate for Q2 FY26-27 | compliance | minimal | — | — |
| 28 Sept 2026 · Trading Window Closed Ahead of Q2 Results | compliance | minimal | — | — |
| 17 Aug 2026 · Newspaper publication of Q1 FY27 unaudited financial results | compliance | minimal | — | — |
| 14 Aug 2026 · Q1 loss narrows but going concern flag remains; revenue up 27% YoY | results | high | — | — |
| 14 Aug 2026 · Q1 FY27 results: revenue up 27 percent, loss narrows, going concern flagged | results | high | — | — |
| 7 Aug 2026 · Board meeting on Aug 14, 2026 to approve Q1 FY27 results | results | low | — | — |
| 31 Jul 2026 · Consolidated Scrutinizer Report of 42nd AGM held on July 31, 2026 | compliance | minimal | — | — |
| 31 Jul 2026 · 42nd AGM held via video conferencing; e-voting results awaited | board shareholder meetings | low | — | — |
| 14 Jul 2026 · 42nd AGM on July 31, 2026; book closure July 24-31 | board shareholder meetings | low | — | — |
| 14 Jul 2026 · 42nd AGM notice sent to shareholders without registered email IDs | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.