Rungta Irrigation Ltd (530449)

Chemicals · Plastic products · NSE · Updated 2 September 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹51 ↓ 17.87% (1Y)

🎯 Key Takeaways

Rungta Irrigation Ltd appears to be in a mature, cash-generative phase with declining revenue trends and no dividends paid over five years, despite recent profitability spikes. The company operates in plastic products within the chemicals sector, showing stable governance but limited growth reinvestment signals, likely serving as a cash cow rather than a high-growth entity.
Revenue grew 14.8% QoQ to ₹23 in Q4FY13.
⚠️ 1) Heavy reliance on a single ₹70 crore related party transaction with RISPL, which accounts for 38.64% of turnover, raises concerns about transaction

Market Cap

₹102

P/B Ratio

1.33

Debt/Equity

0.25

Promoter

41.6%

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📖 The Story

Rungta Irrigation Ltd appears to be in a mature, cash-generative phase with declining revenue trends and no dividends paid over five years, despite recent profitability spikes. The company operates in plastic products within the chemicals sector, showing stable governance but limited growth reinvestment signals, likely serving as a cash cow rather than a high-growth entity.

📰 What's Happening

The most recent development is the 42nd AGM scheduled for September 29, 2026, where shareholders will vote on key governance matters including the approval of a ₹70 crore related party transaction with Rungta Irrigation Systems Private Limited (RISPL), representing 38.64% of turnover, and a ₹45 crore unsecured loan from Gladiolus Finance Consultants. The board also saw approval of Whole-Time Director remuneration packages and the reappointment of the secretarial auditor for five years at ₹75,000 plus taxes. Management emphasized compliance with SEBI norms and strategic focus on government irrigation initiatives like PMKSY, with no new strategic initiatives disclosed beyond routine governance updates.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Mar 2012	Dec 2012	Mar 2013
Revenue	26	20	23
Operating Profit	1	1	1
OPM %	2.0%	4.0%	4.4%
Net Profit	0	0	1
EPS	₹0.25	₹0.04	₹0.60

Financial trends indicate revenue contraction of 17.4% to ₹18,117.63 lakhs in FY25-26, yet net profit surged 281% in Q4 2026, suggesting improved cost control or margin recovery despite shrinking top-line performance. However, operating cash flow turned negative at ₹-14 crore in March 2025, while financing activities generated ₹16 crore, implying reliance on debt or fund raises to sustain operations. The company has maintained stable equity and reserves over the years with modest borrowing increases, but the disconnect between revenue decline and profitability spikes warrants scrutiny of underlying operational efficiency or one-time gains driving net income.

🔮 Management Outlook & What's Next

Management has not provided forward-looking strategic guidance beyond reaffirming compliance with SEBI norms and continued focus on government irrigation schemes like PMKSY during the AGM commentary. No new growth targets, capital allocation plans, or margin improvement roadmaps were disclosed, with the emphasis placed on procedural approvals and governance continuity rather than future business expansion or performance expectations.

Extracted from official company announcements. Not StockFin.ai's opinion.

🏦 Balance Sheet (₹ Cr)

Item	Mar 2012	Mar 2013	Mar 2017
Equity Capital	12	11	9
Reserves	44	45	68
Borrowings	11	9	19
Total Liabilities	90	89	113
Fixed Assets	0	0	11
Investments	23	23	34
Total Assets	90	89	113

The balance sheet shows a conservative capital structure with equity of ₹9 crore and reserves of ₹68 crore as of March 2017, alongside manageable borrowings of ₹19 crore, resulting in total assets of ₹113 crore. Long-term trends indicate stable equity base and reserves growth from ₹45 crore to ₹68 crore between 2013 and 2017, while borrowings rose gradually from ₹11 crore to ₹19 crore, suggesting incremental capital reliance without aggressive deleveraging or large-scale asset expansion.

💰 Cash Flow Statement (₹ Cr)

Item	Mar 2025
Operating	-14
Investing	-1
Financing	+16
Net Cash Flow	+0

👥 Shareholding Pattern

Category	Q2FY26	Q3FY26	Q4FY26	Q1FY27
Promoters	41.6%	41.6%	41.6%	41.6%
FII	0.0%	0.0%	0.0%	0.0%
DII	0.0%	0.0%	0.0%	0.0%
Public	6.4%	6.4%	6.3%	6.3%
# Shareholders	4,020	3,986	3,996	4,000

Shareholding remains highly concentrated with promoter holding steady at 41.59% over the last four quarters, while institutional ownership (FII and DII) remains negligible at 0%, and public shareholding is minimal at approximately 6.35% with over 3,980 shareholders. There are no signs of institutional accumulation or exit activity, and the shareholder base appears static, which may limit liquidity and reduce market sensitivity to corporate developments.

⚖️ Peer Comparison — Plastic products

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
SUPREMEIND	45,398	44.0	22.1%	16.7%	0.00
ASTRAL	40,535	70.4	20.0%	14.2%	0.04
SHAILY	14,945	84.5	33.8%	32.3%	0.34
FINPIPE	9,633	15.6	12.7%	9.9%	0.07
TIMETECHNO	9,411	18.5	20.9%	17.2%	0.22
KINGFA	8,169	36.2	39.9%	31.0%	0.05
SAFARI	7,500	45.4	19.8%	14.8%	0.00
VIPIND	4,312	—	-43.7%	-130.7%	1.42
RESPONIND	4,002	39.5	7.5%	6.5%	0.12
PRINCEPIPE	3,223	31.0	8.0%	6.5%	0.17

🔗 Peer Stock Analyses

SUPREMEIND ASTRAL SHAILY FINPIPE TIMETECHNO

⚠️ Risk Factors

1) Heavy reliance on a single ₹70 crore related party transaction with RISPL, which accounts for 38.64% of turnover, raises concerns about transaction fairness and concentration risk if the partnership deteriorates. 2) Persistent revenue decline of 17.4% in FY25-26 despite profitability spikes suggests potential margin sustainability issues or accounting volatility, especially with negative operating cash flow in March 2025. 3) Zero institutional or DII ownership and a fragmented public shareholder base of over 4,000 may lead to low liquidity and heightened volatility on trading days.

📋 Recent Filings

🧠 Analyst's Read

The company exhibits characteristics of a financially stable but stagnant entity, where governance compliance and routine approvals dominate over strategic innovation or growth initiatives. Investors should monitor the outcome of the AGM resolutions, particularly the RPT approvals, and assess whether the recent profitability surge can be sustained amid declining revenues and negative operating cash flow without further operational clarification.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-02.

Editorial & Data Transparency Notice

This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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