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×

ring plus aqua Limited

350.00
-3.05 %
Scrip Name
RING PLUS
ISIN No.
INE093H01012
PAN No.
AABCR3220M
Face Value
10
No. of Outstanding Shares
7,756,671
Market Capitalization
271.48 Crore

RING PLUS AQUA LIMITED UNLISTED SHARE


ABOUT RING PLUS AQUA LIMITED


RING PLUS AQUA LIMITED is engaged in the business of manufacturing automotive components including Water Pump Gears, Starter Gears, Sheet Metal Pulleys, Flexplates, and Machined Components. The company caters to domestic and international Original Equipment Manufacturers along with after-market customers in a diverse range of industries such as automotive, non-automotive, industrial and power generators, agricultural, off-highway vehicles, earth-moving equipment, and marine applications.


The company’s core strength lies in its strong relationship with global Original Equipment Manufacturers and suppliers. The company has a multi-industry presence with a focus on passenger and commercial vehicle segments, industrial and power generators, and earth-moving equipment.


The manufacturing facilities of Ring Plus Aqua Limited for Ring Gears, Integral Shaft bearings, Flexplates, Sheet Metal Pulley, and machines components are located in the industrial belt of Nashik, Maharashtra. A new manufacturing facility was commissioned in Sinnar, Maharashtra, in May 2019, by further adding around 2 million pieces of capacity for ring gears, making this company the second-largest player (by size) in India.


Ring Plus Aqua Limited exports its products to the USA, Europe, South America, China, Japan, Australia, and Southeast Asia. Exports contribute around 65% to the Total Revenue of the company. The company also serves the JIT (Just In Time) requirements of its customers through their warehouse in the United States.


Ring Plus Aqua Limited serves some of the prominent brands of India. Some of them are Fiat, BMW, Honda, Eicher, Escorts, Ford, Cummins, Tata, and many more.


INCORPORATION DETAILS


CIN

U99999MH1986PLC040885

Registration Date

11 September 1986

Category/Sub-category of the Company

Public Limited Company

Address of the Registered office and contact details

D-3/4, Sinnar Taluka Audyogik Vasahat Maryadit Village Musalgoan, Taluka Sinnar,

Dist. Nasik – 422112, Maharashtra

Contact No. 02551 – 240087

Name, Address and Contact Details of

Registrar and Transfer Agent, if any

Link Intime India Private Limited

C-101, 247 Park, L B S Marg, Vikhroli West,

Mumbai 400083

Tel: 022-49186000

E-mail: rnt.helpdesk@linkintime.co.in

 

PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

Name and Description of main products/services

NIC Code of the product/service

% to the total turnover of the Company

Ring Gears

28140

75.00%

Flexplates

28140

10.00%

Shaft Bearings

28140

15.00%

 

BOARD OF DIRECTORS

Shri Ravikant Uppal (Chairman)

Shri Gautam Hari Singhania

Shri Bhuwan Kumar Chaturvedi

Shri Vipin Agarwal

Shri V. Balasubramanian

Shri Parthiv Kilachand


PARTICULARS OF SUBSIDIARY AND ASSOCIATE COMPANIES

RING PLUS AQUA LIMITED does not have any subsidiary or associate company.

 

RING PLUS AQUA LIMITED UNLISTED SHARE DETAILS


Total Available Shares:

77,56,671

Face Value:

Rs. 10 Per Equity Share

ISIN:

INE093H01012

PAN No.

AABCR3220M

Lot Size:

100 Shares

Last Traded Price

Rs. 370

Market Cap: 

Rs. 287.00 Crore


SHAREHOLDING PATTERN

(As on 31-03-2020)

S. No.

Shareholders’ Name

Number of shares

% of total Shares of the company

1

Scissors Engineering Products Limited (Promoter)

69,08,602

89.07%

2

Public Shareholding

8,48,069

10.93%

 

Total

77,56,671

100.00%


INDUSTRY OUTLOOK

 

India is the 4th largest auto market in the world. India is expected to replace Japan as the third-largest auto market by 2021. In India, the two-wheeler segment dominates the automobile market in terms of volume. Apart from this, India is the largest Tractor manufacturer, 2nd largest bus manufacturer, and 3rd largest heavy trucks manufacturer in the world. India is also a big exporter of automobiles and automotive products and has very strong growth expectations in the future.


In FY 2020, India manufactured 2.63 Crore vehicles and sold 2.15 Crore vehicles. Automobile production at the domestic level increased at a CAGR of 2.36% from FY 2016 to FY 2020 and sales increased at a CAGR of 1.29% for the same period. The Electrical Vehicle market of India is projected to grow at a CAGR of 44% between 2020-2027 and is expected to touch annual sales of 63.4 lakh units by 2027. Indian automotive industry (including component manufacturing) is expected to reach Rs. 16-18trillion by 2026.


FY 2021 was one of the toughest years in the history of the Indian automotive industry due to the outbreak of the COVID 19 pandemic. The Automobile industry was already facing headwinds due to the slowing economy was stopped completely due to nationwide lockdown in 2020. The Indian automotive industry in FY 2021 registered a decline of 13.6%. However, the last 2 quarters have been relatively better than the first 2 quarters of FY 2021. The 4th Quarter of FY 2021 registered an increase of 25.89% in total sales of automobiles when compared to the 3rd quarter of FY 2021. The Passenger Vehicle segment saw a total decline of 2.24% in FY 2021. However, the Passenger Vehicle segment performance in the 4th quarter improved strongly with a year-on-year increase of 42.4%.


For the Auto component, the scenario is the same as the automobiles. Sales of the automotive components sharply fell in the first 2 quarters of FY 2021. Later in the 3rd and 4th quarter of FY 2021, the market started picking up the sales.


The Indian automotive industry is expected to book growth in FY 2022. However, it is projected that the passenger vehicle segment will reach the levels of FY 2019 only in FY 2023-24. ICRA, a rating agency, expects domestic auto component industry revenue to grow by 16-18% in FY 2020. The outlook for the auto component industry has changed from Negative to Stable backed by an increase in demand across Original Equipment manufacturers, replacements, and exports.

 

PROFIT & LOSS STATEMENT OF RING PLUS AQUA LIMITED(In Rs. Lakhs)

 

PARTICULARS

FY 2020

FY 2019

FY 2018

FY 2017

Revenue from Operations

20,822.85

25,838.47

21,764.06

16,431.46

EBITDA

3,344.64

5,505.92

3,919.43

2,053.07

EBITDA margins

16.06%

21.31%

18.01%

12.49%

Finance Cost

57.35

58.46

194.06

527.49

Depreciation

1,001.15

769.79

744.18

694.58

Other Income

251.35

365.77

612.29

274.99

Profit/Loss before Tax and Exceptional items

2,537.49

5,043.44

3,593.48

1,105.99

Exceptional items

0.00

0.00

0.00

51.72

Total Tax

739.24

1,426.47

934.11

273.68

Profit After Tax (PAT) 

1,798.25

3,616.98

2,659.37

780.59

PAT margins

8.53%

13.80%

11.88%

4.67%

EPS

23.18

46.63

34.28

10.73

 

BALANCE SHEET OF RING PLUS AQUA LIMITED (In Rs. Lakhs)

PARTICULARS

31st March 2020

31st March 2019

ASSETS



NON CURRENT ASSETS



Tangible assets

8,976.97

8,399.57

Intangible assets

7.59

13.89

Financial assets

31.27

27.67

Tax assets

363.44

301.49

Other non current assets

257.65

435.12

TOTAL NON CURRENT ASSETS

9,636.92

9,177.74

CURRENT ASSETS



Inventories

3,305.40

4,587.62

Financial assets

3,157.48

768.22

Trade receivables

3,097.74

3,588.36

Cash and cash equivalent

402.88

31.30

Other current assets

590.21

1,409.97

TOTAL CURRENT ASSETS

10,553.71

10,385.47

TOTAL ASSETS

20,190.63

19,563.21

EQUITY AND LIABILITIES



EQUITY



Equity Share Capital

775.67

775.67

Other Equity

12,456.37

10,590.41

TOTAL EQUITY

13,232.04

11,366.08

LIABILITIES



NON-CURRENT LIABILITIES



Borrowings

35.53

76.65

Tax liabilities

504.39

257.80

TOTAL NON CURRENT LIABILITIES

539.92

334.45

CURRENT LIABILITIES



Borrowings

1,201.86

1,059.00

Trade payables

3,747.66

5,510.83

Other financial liabilities

550.35

337.97

Other current liabilities

537.24

626.03

Provisions

381.56

328.85

TOTAL CURRENT LIABILITIES

6,418.67

7,862.68

TOTAL LIABILITIES

6,958.59

8,197.13

TOTAL EQUITY AND LIABILITIES

20,190.63

19,563.21

 

DIVIDEND HISTORY

Particulars

2020

2019

2018

Dividend (final + interim) (In Rs.)

Nil

Nil

Nil

Retained Earnings (Consolidated) (In Rs. Lakhs)

10,511.70

8,705.74

5,129.39

 

PERFORMANCE OF THE COMPANY FOR FY 2020

Revenue from operations of the company decreased by 19.41% from Rs. 25,838.47 lakhs in FY 2019 to Rs. 20,822.85 lakhs in FY 2020.


EBITDA of the company decreased significantly by 39.25% from Rs. 5,505.92 lakhs in FY 2019 to Rs. 3,344.64 lakhs in FY 2020. EBITDA margins of the company decreased from 21.31% in FY 2019 to 16.06% in FY 2020.


Profit After Tax of the company sharply fell by 50.28% from Rs. 3,616.98 lakhs in FY 2019 to Rs. 1,798.25 lakhs in FY 2020. PAT margins of the company declined from 13.80% in FY 2019 to 8.53% in FY 2020.


The Current Ratio of the company as of 31st March 2020 was 1.64.


Total borrowings of the company as of 31st March 2020 stood at Rs. 1,237.39 lakhs. The debt to Equity ratio of the company as of 31st March 2020 stood at 0.09.


The book value per equity share of the company as of 31st March 2020 was Rs. 171.


The company has not given any dividends for the past three years.


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