Concall transcriptJun 2026
Jun 2026 · Transcript
Source: Nse
Rappid Valves (India) Ltd. (RAPPID)
SME CapIndustrials stocks · SME cap · NSE
Rappid Valves (India) Ltd. designs, manufactures, tests, and certifies industrial and marine valves (15mm-600mm) under the 'Rapid' brand. With 19 years of experience, it serves high-demand sectors like Defence (Marine), Shipbuilding, Oil & Gas, Chemicals, and Ethanol, backed by Maharashtra Defence and Aerospace Venture Fund.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals11 Oct 2026 · screener
Latest result01 Jun, 07:57 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Industrials P/E 26.2 (n=537)
Technical timing lens
Trend score and candlestick chart
70Bullishfull bull SMA stack · SMA20 +10.3% / mo · MACD + · near 52W high
Stock trend: 84
Sector RS: 50
Sector 3M: -6.3% vs Nifty 500 -5.6%
Industrials FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
RAPPIDD candles · FIT view+24.9%Latest close ₹361.00 on 2026-10-19
Bar
+0.6%
RSI
59
MACD hist
1.94
52W pos
90%
2026-10-19O ₹359.00H ₹362.00L ₹359.00C ₹361.00Vol 3,600 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
RAPPIDNifty India ManufacturingNifty 500
- RAPPID
- -3.2%
- Nifty 500
- -5.6%
- Nifty India Manufacturing
- -5.8%
- Vs Nifty 500
- +2.4 pp
Chart stats
19 Oct 2026- From 52W high
- -4.7%
- 52W range position
- 90%
- ATR (14)
- 4.5%
- Volume vs 20D
- 0.29x
- Avg traded value
- ₹0.4 Cr
- 20D price channel
- ₹320.1 - ₹379
₹379
₹207 - ₹379
₹16.4
Latest completed session
20-session average
55.1% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, while price trend supports entry. This looks more like momentum/speculation than a clean fundamental investment setup.
Weak U-Score but strong trend: momentum may be ahead of fundamentals.
Suggested next step
Momentum only
Trend is strong but fundamentals do not support a clean investment thesis.
U-Score
Legacy · WATCHLIST37
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad0
Revenue -16.6% · PAT -6.3% YoY
Technical
Bullish70
Price trend and sector-relative-strength timing.
Valuation
Legacy model+26.4%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence60
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 31 Mar 2026
Bad · 0/100Rev -17% YoY · PAT -6% YoY · margin expansion · operating leverage
Filed 31 Mar 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹24.4 Cr | -16.6% | -15.3% |
| EBITDA | ₹4.8 Cr | NDF | -13.2% |
| Operating margin | 19.6% | NDF | +47 bps |
| PAT | ₹3.1 Cr | -6.3% | -8.3% |
| PAT margin | 12.7% | NDF | +97 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 26.40
- P/B
- 3.30
- EV/EBITDA
- 17.25
- Market Cap
- 171.00Cr
Profitability
- ROE
- 13.40%
- ROCE
- 16.20%
- ROA
- 8.60%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 44.71%
- EPS 5Y
- 117.42%
- Revenue 3Y
- 48.00%
- EPS 3Y
- 142.00%
Balance Sheet
- Debt/Equity
- 0.35
- Interest Coverage
- 7.75×
- Altman Z
- 6.62
- Book Value
- 99.60
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 1/5
- OCF
- -10.83 Cr
- EPS TTM
- 12.48
Shareholding
- Promoter Hold
- 51.69%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 72%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 53.2+2.1% vs prev
Net Profit
₹ CrLatest: 6.5+7.3% vs prev
Return on Equity
%Latest: 12.5-6.1% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bullish setupTrend is constructive — long-term uptrend intact. RSI 59.
- Price > SMA20 > SMA50 > SMA200 — full bullish stack.
- SMA20 rising (~9.3% over last month) — short-term momentum positive.
- RSI(14) at 59 — rising, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 5% off 52W high · 74% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
78
RS percentile
Stage 2 UptrendEstablished S2
1M return
-1.3%
3M return
+3.6%
6M return
+27.1%
1Y return
+15.5%
RS 1D
-3
RS 20D
-2
Sector rank
#2
Industry rank
-
Stage evidence
- Price is 24.7% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +4.3%.
- Both 3-month and 6-month returns are positive.
50-DMA
price above
200-DMA
price above
S2 entered
04 Aug 2026
S2 age
52 trading sessions
Sector
leading
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
257 observations
19 Oct 2026Value 127.4-3.42%
RS vs Nifty 500127
Valuation & peers
U-Score 37 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 37 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
WATCHLIST
Fundamental score breakdown
U band · WATCHLISTValuation6/30
Growth25/25
Quality3/20
Balance Sheet8/15
Cash Flow0/10
Piotroski
6/9 (+3)
Penalties
-8
Raw sum
37
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
37/100 · legacy band WATCHLIST
Positive drivers
- Fair-value margin of safety is positive at 26.4%.
- Growth contributes 25/25 to the score.
- Balance sheet contributes 8/15 to the score.
Main drags
- Penalty bucket subtracts 8 points.
- Cash flow is weaker at 0/10; verify the latest quarterly trend.
- Quality is weaker at 3/20; verify the latest quarterly trend.
Sector valuation model
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Primary lens
PE, EV/EBITDA, margin of safety, and FCF yield together.
Secondary checks
ROE/ROCE, growth, cash conversion, leverage, promoter risk.
Main risk check
One cheap metric is not enough if quality or cash flow is weak.
PE
26.4
PB
3.3
EV/EBITDA
17.3
ROE
13.4%
ROCE
16.2%
FCF Yield
—
Debt/Equity
0.3
MoS
+26.4%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
37
Previous: 37
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
+26.4%
Previous: +26.4%
Score history
12 stored score snapshots. Latest stored move: +2 points.
20 Oct 2026
v4.3-runtime-valuation
38
38
38
38
38
38
38
38
35
35
35
37
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹167.24
-115.9% MoS
Growth-justified P/E
39.3
Growth-justified Value
₹490.46
+26.4% MoS
PEG
0.21
Comparable companies
Peers
Business-comparable peers in Industrials — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
ATAM
Small
Atam Valves Limited
Industrial Valves
match 77
31
34.2
6.5%
+16%
OVERVALUED
NIKITA
SME
NIKITA GREENTECH RECYCLING Ltd.
Recycling
match 19
40
14.8
7.8%
+63%
WATCHLIST
AARADHYA
SME
Aaradhya Disposal Industries Ltd.
Environmental Services
match 19
32
29.4
11.3%
+25%
WATCHLIST
GLOBALPET
SME
Global Pet Industries Ltd.
Plastics
match 18
35
39.1
9.5%
+22%
WATCHLIST
MEGAFLEX
SME
Mega Flex Plastics Ltd.
Plastics
match 18
44
30.4
10.7%
+33%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis under stressReviewed 2026-08-22T07:21:51.418Z
Management commentary snapshot
FY26 revenue grew 2.13% YoY to Rs 53.23 Cr, with PAT up 7.29% to Rs 6.48 Cr. However, H2 FY26 revenue declined 15.2% QoQ due to a conscious selective bidding approach amid commodity volatility and supply chain disruptions.
The company's H2 FY26 performance shows a significant sequential slowdown and revenue decline, attributed by management to strategic de-risking from commodity volatility. While profitability was protected, the sharp drop in H2 revenue and increased working capital metrics (inventory, receivables) raise concerns about execution and cash flow generation. The thesis is under stress due to these operational challenges and the impact on sequential growth.
Current business mix
Revenue by Industry (FY26)
Latest issuer-disclosed distribution across 8 reported categories.
Ethanol, Breweries and Industrial Wastewater Treatment30.8%
Shipbuilding & Repair24.5%
Chemicals15.4%
EPC & OEM14.9%
Marine8.3%
Steel2.8%
Others2.8%
Fire Safety0.4%
Growth engines
Niche Marine Valves
Marine valves require specialized metallurgy, stringent certifications, and zero-failure execution standards, creating high barriers to entry.
Approved Vendor Status
Empanelled with leading PSU and private shipyards in India, positioning the company to benefit from India’s expanding naval and shipbuilding pipeline.
High-Growth Industry Demand
Strong demand tailwinds from sectors such as Defence Shipbuilding, Oil & Gas, Water Treatment, Ethanol, Chemicals, and Industrial Infrastructure.
Export Market Expansion
UL Approval marking entry into US Export Unit and Class NK (Japan) Type approval for Marine Shipbuilding Valves.
Capacity and execution
Export Manufacturing Facility
New manufacturing facility of 6000 sq ft. operational, dedicated to cater to export order requirements.
Inventory Management Facility
Addition of new facility spanning over 9000 sq ft. to streamline inventory management, improve workflow, and ensure faster, more efficient deliveries.
Automated Test Benches & VMC Machine
4 Automated Test Benches and New VMC Machine ordered to speed delivery and scale-up production.
Tailwinds
Defence Shipbuilding Pipeline
Over 60 naval vessels are currently under construction, with another 70-80 planned, spanning destroyers, frigates, submarines, corvettes, and support vessels.
Government Initiatives
Jal Jeevan Mission (₹8.69L Cr) and Maritime India Vision (~₹697 Bn) are driving massive valve demand and shipbuilding targets.
Oil & Gas Sector Expansion
India’s O&G sector is 1 of 8 core industries; upstream/midstream capex rising rapidly, creating demand for precision flow control equipment.
Industrial Automation Growth
India’s industrial automation market is expected to reach USD 19.3 billion by 2025, driving adoption of smart, actuated valve systems.
Headwinds
Commodity Price Volatility
Sharp and unpredictable increases in copper and non-ferrous metal prices created significant uncertainty around future input costs during H2 FY26.
LPG Supply Chain Disruption
Geopolitical tensions arising from the Iran-US conflict created disruption in the LPG supply chain, impacting procurement of metal castings.
Risk radar
Commodity Price Risk
Unpredictable increases in copper and non-ferrous metal prices can expose the company to margin erosion on fixed-price contracts.
Supply Chain Dependency
Disruptions in LPG supply due to geopolitical tensions can impact the procurement of critical metal castings for valve manufacturing.
Working Capital Management
Significant increases in inventories and trade receivables in FY26 indicate higher working capital requirements and potential cash flow strain.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
YoY comparison is essential for assessing overall annual growth and profitability trends. QoQ comparison for H2 FY26 is crucial to understand the immediate impact of management's selective bidding strategy and commodity volatility on sequential performance.
Sector KPIs management disclosed
Order Book
Order Book ₹33 cr as on May’26.
Revenue CAGR (FY23-FY26)
Delivered ~48% Revenue CAGR between FY23–FY26.
Capacity Utilization
85% Capacity Utilisation at Palghar facility.
EBITDA Margin
EBITDA Margin for FY26 was 19.36%.
Management forward view
Prudent Bidding Strategy
RVIL consciously adopted a prudent and selective bidding approach during H2 FY26 to protect profitability and execution quality.
Long-term Value Creation
Management believes protecting profitability during extreme commodity volatility is essential for long-term shareholder value creation.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Commodity Price Stability | Unpredictable increases in H2 FY26. | Stabilization or decline in copper and non-ferrous metal prices. |
| LPG Supply Chain Normalization | Disruption due to geopolitical tensions. | Resolution of supply shortages for metal castings. |
| Order Book Growth | Rs 33 Cr as of May'26, post selective bidding. | Acceleration in order inflows and order book expansion in subsequent quarters. |
| Working Capital Efficiency | Increased inventories and trade receivables in FY26. | Improvement in inventory days and receivables collection period. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
60Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 28th percentile of the scored universe and 24th percentile within Industrials. Main check: cash conversion is weak at 28/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
2 docs text-extracted · 1 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
28th percentile
overall median 67 · Industrials: 24th pctile, median 68 · SME: 32nd pctile, median 64
Evidence depth
Financial-only
2 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
28
weak · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
58
watch · capital discipline
Results
55
watch · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
Trust risks
- ▸Operating cash flow is negative at ₹-11 Cr.
- ▸Only 1 years of positive FCF.
- ▸ROCE trend is -10%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Rappid Valves (India) Ltd.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Investor presentationJun 2026
Jun 2026 · PPT
Source: Nse
Annual reportMar 2026
Mar 2026 · Annual Report 2026
Source: Nse
Annual reportMar 2025
Mar 2025 · Annual Report 2025
Source: Nse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.