RATNAVEER - Precision engineering company playing good in industrial sector

NSE: RATNAVEER

BSE: 543978

RATNAVEER Precision Engineering Ltd is into Marine, Defence, Bullet Train, Railways, Long Transportation and Aero Space.

Based in GIDC Vadodara, Gujarat (SAVLI)

As on July with market capitalisation of INR 1481 crore (source: screener)

Stock P/E 21.9

Face Value of Rs. 10

RATNAVEER has reported good 1st quarterly result of fy 26-27 with increased sales turnover and OPM of 10% and increase in EPS.

Promotor holding as on Jun-26 is 45.49%

FIIs Holding 3.53%

DIIs Holding 2.00%

Public Holding 48.98%

Their product list includes Stainless Steel Washer, Solar Mounting Hooks, Finishing Sheets, SS Tube and Pipes, Retaining Ring, Toothhed Lock Washer, Circlip, Spring Washer and Copper Clad Laminates. 

 Their annual capacity is 6000 Metric Tonnes Per Annum.

Company is ISO 9001 certified and their motto is Customer First including promise to provide world class products to their customers.

Growth Company delivers good profit growth of increased CAGR in last five years.

Promotors are buying and increasing their share.

Working capital requirement has reduced.

CWIP is increasing Year on Year.

ROCE on average is more than 10%

Their office address is as below;

Office : 703/704, "OCEAN",Sarabhai Compound,Near Center Square Mall,Dr.Vikram Sarabhai Road,Vadodara, Gujarat 390023.

Peers:

Jindal Saw

Ratnamani Metals

Godawari Power

APL Apollo Tubes

Kalyan Jewellers — 3-Year Investment Analysis

 NSE: KALYANKJIL

Investment horizon: FY27–FY29

₹ crore	FY25	FY26	Growth
Revenue	25,045	35,743	43%
EBITDA	1,517	2,491	64%
PAT	714	1,350	89%
EBITDA margin	6.1%	7.0%	+90 bps
PAT margin	2.9%	3.8%	+90 bps
ROCE	15.9%	24.3%	Strong improvement
ROE	19.8%	28.8%	Strong improvement

Existing stores are generating higher sales.

The company has demonstrated strong same-store growth in recent quarters.

The franchisee provides much of the capital.

Kalyan operates the store and earns the economics.

This allows Kalyan to expand much faster than if it had to fund every store itself.

Good Opportunity:

There are:

• Local family jewellers
• Regional chains
• National chains
• Organised players
• Online brands

Interestingly, younger customers increasingly want:

• Lightweight jewellery
• Daily-wear jewellery
• Online discovery
• Lower-ticket products
• Contemporary designs

Kalyan has a significant Middle East presence.

This provides geographic diversification.

But I wouldn't assign the same valuation to the international business as the Indian business.

Why?

Middle East jewellery demand is affected by:

• Gold prices
• Oil economy
• Geopolitics
• expatriate income
• local consumer confidence

The India business should remain the primary investment thesis.

Scenario	FY29 EPS	P/E	Indicative FY29 price
🔴 Bear	₹24	22x	₹530
🟡 Base	₹30	25x	₹750
🟢 Bull	₹35	28x	₹980

⭐ Final rating

Business quality: 9/10

3-year growth potential: 9/10

Financial improvement: 8.5/10

Risk: 6.5/10

Valuation at ~₹600: 6.5–7/10

Overall 3-year investment rating: 🟢 8/10

My preferred strategy: ACCUMULATE ON CORRECTIONS rather than chase the stock after a sharp rally.

Note: Not an invitation to invest

Ratnaveer Precision Engineering — Future Perspective

 NSE: RATNAVEER

Parameter	My assessment
Business growth	🟢 Strong
Revenue growth	🟢 Strong
Profit growth	🟢 Strong
Product diversification	🟢 Improving
Industry opportunity	🟢 Positive
Export opportunity	🟢 Positive
Margins	🟡 Moderate
Debt/finance cost	🟠 Watch
Cash-flow quality	🔴 Weak currently
Working capital	🔴 High
Promoter holding	🟡 Needs monitoring
Valuation	🟡 Reasonable, not cheap
3–5 year potential	🟢 Good, if execution remains strong

Ratnaveer manufactures stainless-steel products including:

• Stainless-steel finishing sheets
• Stainless-steel washers
• Stainless-steel tubes
• Solar mounting hooks
• Other precision stainless-steel products

The company describes itself as India's largest producer/exporter of stainless-steel washers, and has manufacturing facilities around Vadodara.

₹ crore	FY24	FY25	FY26	Growth
Revenue	~595	~892	~1,069	19.8% YoY FY26
Net Profit	~31	~47	~64	37.4% YoY FY26
EPS	~₹7.61	₹9.31	₹11.11	19.3%
Operating Profit	~47	~69	~87	Strong

 

A sustainable 15–20% revenue growth + 20%+ earnings growth story can still generate attractive shareholder returns if valuation remains reasonable.

Category	Jun-26
Promoters	45.49%
FIIs	3.53%
DIIs	2.00%
Public/others	48.98%

Semiconductor stock Moship has reported poor performacne of Q1 FY 26-27

 Dear Readers,

Much hyped darling stock of Semiconductor line i.e. Moschip Technlogies Ltd has dissappointed shareholders in Q1 performance which is very poor when compared to previous quarters.

Total sales of Q1 stands at 101.15 crore whereas Mar-26 quarter was 138.42 crore. OPM % is also reducing QnQ. Profit before tax is less than a crore i.e. 20 lakhs.

EPS is mere 0.20 which is very poor and disappointing for a company like semiconductor giant Moschip Technologies Ltd.

Considering good market notion, we had expected very good result, however company has given poor performance and numbers are not looking good, at least for first quarter of FY 26-27.

source: screener

We hope company will recover this poor performance in next quarter and give good result going forward.

Market has not recovered from Iran conflict and numbers of Moschip has given bad feeling to shareholders of semiconductor company.

 

Millworks Techno BSE SME IPO listed at 99%

 Millworks listed at premium and almost doubled investor's money.

Company is based in Bengaluru and is into precision engineering for components, sheet metal which is going to be used for railways, defence and also semiconductor industry.

Company has got order on hand worth more than 65 crore.

Investors are allowed to do their own research and see if they can do their own due diligence of this stock which may turn their money for good return in future. However be cautious that this is SME Company.

Company's paid up capital is Rs. 12.77 crore and price band was 470.00

Company listed with market cap of Rs. 583 and change crore.

Millworks yet to pay any dividend and it may pay in future based on company's performance and future numbers of EPS and growth.

Sambhv Steel Tubes Ltd - Research and future scaling of business

 Sambhv Steel Tubes established in financial year 2018 and since then company is scaling steadily.

Company is in production of products which are in finished in nature and pipes in black and hollow section tubes along with pipes which are galvanized iron (GI). They use intermediate product like slabs, rolled hot hr coil and iron which is sponge in nature.

As on Jul-2026 company has market cap of 3511 crore in INR and book value is INR 35.8.

ROCE @ 19.1% and ROCE 18.5% With equity of Rs. 295 crore as on Mar 2026 company is looking good for future potential.

Sambhv steel tubes is believed to give good business in coming fy of 27-28.

Share holding pattern of Sambhv Steel is consistent and maintaining good numbers. DIIs holding increased during Mar-2026 and Jun-2026 data is awaiting.

Public holding is 39.24% and FII 1.52% as on Mar-2026.

Shadowfax Technologies Ltd का स्टॉक विश्लेषण

व्यवसाय: टेक्नोलॉजी आधारित थर्ड-पार्टी लॉजिस्टिक्स (पार्सल डिलीवरी, क्विक कॉमर्स, हाइपरलोकल फुलफिलमेंट, क्रिटिकल लॉजिस्टिक्स, डार्क स्टोर्स)

स्थापना: 2015, मुख्यालय बेंगलुरु।

ग्राहक: ई-कॉमर्स, फूड मार्केटप्लेस, क्विक कॉमर्स और मोबिलिटी कंपनियाँ।

नेटवर्क: ~4,519 टचपॉइंट्स, 15,166 पिन-कोड कवरेज, ~45 लाख वर्ग फुट ऑपरेशनल स्पेस।

राजस्व (FY26): ₹4,202 करोड़ (+69% वार्षिक वृद्धि)।

शुद्ध लाभ (FY26): ₹111.7 करोड़ (+1,637% वार्षिक वृद्धि)।

5-वर्ष CAGR: राजस्व +43.7%, लाभ +59.4%।

EBITDA मार्जिन (Q3 FY26): 5.7%।

फ्री कैश फ्लो (9M FY26): ₹61 करोड़।