Rappid Valves (India)Share price, financial results, shareholding and management
- Market cap
- ₹191 cr
- Stock P/E
- 29.5peers 14.9
- Book value
- ₹99.6
- Price to book
- 3.70
- EV / operating profit
- 20.0
- Market cap to sales
- 3.59
- ROCE · FY26
- 16.2%
- ROE · FY26
- 13.4%
- ROE, 3-year average
- 38.3%
- Operating margin · FY26
- 19.4%peers 12.7%
- Sales growth, 3 years
- 48.1%
- Profit growth, 3 years
- 141.5%
- Debt to equity
- 0.35peers 0.80
- Borrowings
- ₹17.8 cr
- Interest cover
- 7.5×
- Cash from business / op. profit
- -105%
- Debtor days
- 170
- Pledged
- 0.00%
- Promoter holding
- 51.73%
- Change in promoter holding
- +0.04 pts
- Shareholders
- 687
- 52-week high / low
- ₹394 / ₹207
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Rappid Valves (India) share price chart
Close on 6 Nov 2026 · +10.54% on the day · Vol 1.81 L
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- +11.5%
- 3 months
- +13.6%
- 6 months
- +40.5%
- 1 year
- +11.2%
- Since IPO
- +65.8%
- Traded a day, 20 days
- ₹0.84 cr
- Taken for delivery
- 82%
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +2% | +7% |
| 3 years, a year | +48% | +142% |
| Latest half, H2 FY26 | -25% | -15% |
About Rappid Valves (India): business, products and customers
Rappid Valves makes valves, the parts that open, close and control the flow of liquids and gases in pipes, for ships, naval shipyards, distilleries, chemical plants and oil and gas sites. It has one factory in Palghar, Maharashtra, and its shares trade on NSE Emerge.
Rappid makes ball, gate, globe, check, butterfly and other valves from 15 mm to 600 mm in steels, bronze and special alloys, under the brand Rapid, and fits bought in actuators to deliver automated valves. Industrial valves are about two thirds of sales and marine valves about one third. Marine work needs type approvals from ship classification bodies before a supplier can even bid, and the company holds approvals and certificates from ClassNK, DNV, API, IBR and UL.
The company buys castings, bars and billets from foundries and then machines, assembles, tests and certifies the valves itself. Shipyard work is won on fixed price tenders and public sector yards allow no price escalation, so when copper and nickel aluminium bronze prices jumped in the second half of FY26 the cost rise fell on Rappid, and it chose to bid less and hold back finished stock while it sought price revisions. Naval orders run over one to three years and yards often collect valves only as ship building progresses, so inventory and receivables swell before cash comes in.
Read more about the business
On the industrial side the company says it supplies more than 75 distilleries and works under annual rate contracts, with Praj alone giving about ₹13 to 14 cr a year. Shipyard customers include Mazagon Dock, Cochin Shipyard, Hindustan Shipyard, Goa Shipyard, GRSE and L&T, and recent orders are mostly for the Indian Navy's Fleet Support Ship programme.
The offer document compares Rappid with three listed valve makers: Atam Valves, Chemtech Industrial Valves and Hawa Engineers, all Indian manufacturers of industrial valves. In export markets the managing director says the main rival is China.
From the offer document (red herring prospectus, 2024), the investor presentations of March and June 2026, the earnings call transcript of June 2026 and order announcements of May to September 2026.
Read the deeper study ↓In its favour
- Sales have grown fast: 48% a year over three years.
To watch
- Revenue growth in FY27 against the managing director's aim of close to 50% (Earnings call, June 2026, p.10).
- Execution of the BHEL Fleet Support Ship order, with three ships due in about a year and two by FY28 (Announcement, 13 June 2026).
- Release of the finished valves held back for a price revision from a private shipyard (Earnings call, June 2026, p.6).
- The change of use of unspent IPO money to working capital, which the company said was in process (Earnings call, June 2026, p.22 and p.23).
- Customers take longer to pay than before: 170 days in FY26, against 79 in FY22.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Rappid Valves (India) revenue and profit growth
Half-yearly results · Profit and lossSales have grown fast. Last year profit grew faster than sales, so the company kept more from each rupee of sales.
SME companies report every six months. In the latest half, sales were lower than in the same half a year before. Profit grew faster than sales.
Rappid Valves (India) half-yearly results
SME companies report every six months · ₹ crore
| H1FY24 | H2FY24 | H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|---|---|
| Sales | 7.25 | 29.26 | 19.62 | 32.51 | 28.82 | 24.41 |
| Expenses | 5.40 | 23.96 | 15.29 | 27.15 | 23.30 | 19.63 |
| Operating profit | 1.85 | 5.30 | 4.33 | 5.36 | 5.53 | 4.78 |
| OPM | 25.5% | 18.1% | 22.1% | 16.5% | 19.2% | 19.6% |
| Interest | 0.65 | 0.56 | 0.60 | 0.52 | 0.56 | 0.77 |
| Depreciation | 0.21 | 0.31 | 0.35 | 0.43 | 0.52 | 0.12 |
| Profit before tax | 1.05 | 4.46 | 3.38 | 4.61 | 4.54 | 4.12 |
| Net profit | 0.81 | 3.31 | 2.39 | 3.64 | 3.38 | 3.10 |
Rappid Valves (India) profit and loss
Full years to March, FY22 to FY26 · ₹ crore, consolidated where reported
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Sales | 12.14 | 16.40 | 36.51 | 52.12 | 53.23 |
| Expenses | 10.20 | 14.07 | 29.16 | 42.19 | 42.93 |
| Operating profit | 1.94 | 2.33 | 7.35 | 9.93 | 10.31 |
| OPM | 16.0% | 14.2% | 20.1% | 19.1% | 19.4% |
| Other income | 0.01 | 0.04 | 0.09 | 0.21 | 0.32 |
| Interest | 1.46 | 1.44 | 1.40 | 1.12 | 1.33 |
| Depreciation | 0.20 | 0.30 | 0.51 | 0.78 | 0.64 |
| Profit before tax | 0.29 | 0.63 | 5.53 | 8.24 | 8.66 |
| Tax rate | 0.0% | 27.0% | 25.3% | 26.7% | 25.2% |
| Net profit | 0.29 | 0.46 | 4.13 | 6.04 | 6.48 |
| EPS ₹ | · | · | · | 11.60 | 12.50 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Rappid Valves (India) profitability
Margins and returns on capitalLast year the company kept about as much from each rupee of sales as the year before. It earns a moderate return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Operating margin | 16.0% | 14.2% | 20.1% | 19.1% | 19.4% |
| Tax rate | 0.0% | 27.0% | 25.3% | 26.7% | 25.2% |
| ROCE | · | 18.3% | 38.1% | 24.3% | 16.2% |
| ROE | · | 32.1% | 78.6% | 22.9% | 13.4% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Rappid Valves (India) debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown. It borrowed much more last year. Its loans are smaller than its own money. Last year the business used more cash than it brought in. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
Rappid Valves (India) balance sheet
At each 31 March · ₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Equity capital | 0.55 | 3.50 | 3.52 | 5.19 | 5.19 |
| Reserves | -0.80 | -0.38 | 3.87 | 40.06 | 46.52 |
| Net worth | -0.25 | 3.12 | 7.39 | 45.25 | 51.71 |
| Borrowings | 9.77 | 9.93 | 15.96 | 8.41 | 17.84 |
| Other liabilities | 2.65 | 3.52 | 6.61 | 6.59 | 5.77 |
| Total liabilities | 12.17 | 16.57 | 29.96 | 60.25 | 75.32 |
| Fixed assets | 3.83 | 4.50 | 6.68 | 9.24 | 10.28 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 |
| Investments | 0.16 | 0.16 | 0.53 | 0.57 | 4.76 |
| Other assets | 8.18 | 11.91 | 22.75 | 50.44 | 60.28 |
| Receivables | · | · | · | 19.23 | 24.83 |
| Inventory | · | · | · | 16.17 | 26.68 |
| Cash | · | · | · | 9.49 | 2.51 |
| Trade payables | · | · | · | 4.12 | 2.77 |
Rappid Valves (India) cash flow
₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Cash from operations | 1.14 | -0.43 | -2.48 | -12.82 | -10.83 |
| Cash from investing | -0.04 | -0.91 | -2.66 | -3.22 | -5.59 |
| Cash from financing | -1.28 | 1.66 | 6.06 | 24.31 | 9.43 |
| Net cash flow | -0.18 | 0.32 | 0.92 | 8.27 | -6.99 |
| Capital spending | · | · | · | 3.38 | 1.79 |
Working capital
Days
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Debtor days | 79 | 73 | 83 | 135 | 170 |
| Inventory days | 187 | 215 | 159 | 155 | 258 |
| Days payable | 91 | 75 | 51 | 40 | 27 |
| Cash conversion cycle | 175 | 213 | 191 | 250 | 402 |
| Working capital days | -71 | -4 | 59 | 181 | 233 |
Rappid Valves (India) peers and competitors
Listed SME companies in the same industryBy sales, Rappid Valves (India) is number 121 of the 156 listed SME companies in industrial products.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Phychem Technologies | 47 | 11.5 | 56.5 | 4.1 | 10.8% | 0.43 |
| Anand Seamless | 82 | 14.9 | 56 | 5.5 | 18.3% | 1.44 |
| Maks Energy Solutions India | 10 | 14.9 | 54.1 | 0.7 | 5.5% | 1.02 |
| Jiwanram Sheoduttrai Industries | 10 | 9.6 | 53.9 | 1 | -0.9% | 0.68 |
| Rappid Valves (India) | 191 | 29.5 | 53.2 | 6.5 | 19.4% | 0.35 |
| Manas Polymers and Energies | 55 | 6.4 | 53 | 8.5 | 24.1% | 0.54 |
| Kalana Ispat | 26 | 26.6 | 51.8 | 1 | 2.2% | 0.05 |
| KVS Castings | 134 | 19.0 | 51.4 | 7.1 | 21.6% | 0.38 |
| Diksha Polymers | 97 | 23.6 | 51.3 | 4.1 | 14.6% | 1.77 |
| Pentagon Rubber | 66 | 35.9 | 50.9 | 1.8 | 9.5% | 0.92 |
| Advance Technoforge | 50 | 12.3 | 50 | 4.1 | 15.5% | 1.26 |
| Median of the 10 others | 53 | 14.9 | 52.4 | 4.1 | 12.7% | 0.80 |
Rappid Valves (India) shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company, a little more than in the first filing shown. Foreign and Indian funds own a noticeable share. The number of shareholders has come down.
Rappid Valves (India) shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Sep 24 | Mar 25 | Sep 25 | Mar 26 | Sep 26 | |
|---|---|---|---|---|---|
| Promoters | 51.13% | 51.58% | 51.64% | 51.69% | 51.73% |
| Foreign investors (FIIs) | 3.11% | 0.17% | - | - | - |
| Indian institutions (DIIs) | 13.47% | 10.77% | 8.66% | 9.73% | 11.16% |
| HNIs (over ₹2 lakh each) | 8.48% | 11.64% | 14.15% | 12.84% | 13.10% |
| Small holders (up to ₹2 lakh) | 13.47% | 17.50% | 17.73% | 19.75% | 18.78% |
| Companies and others | 10.34% | 8.34% | 7.82% | 5.99% | 5.23% |
| Number of shareholders | 1,107 | 702 | 687 | 724 | 687 |
The named holders are at 30 Sept 2026, beside 31 March 2026, each under the group the pattern files them in.
Rappid Valves (India) study: the business from its own documents
Read from 8 of the company's own documentsRappid Valves (India) so far
From the company's own record
- 30 Sept 2024Listed on NSE Emerge at ₹222
- 13 Aug 2026Order worth ₹2.84 cr
- 21 Sept 2026Order worth ₹0.85 cr
- 30 Sept 2026Promoters at 51.73%
- 16 Dec 2024Highest close since listing, ₹424.75
Rappid Valves (India) key facts from the filings
Each figure with the document it comes from
- Revenue FY26
- ₹53.2 cr
- Revenue from operations, up 2.1% from ₹52.1 cr, with profit after tax of ₹6.5 cr and an EBITDA margin of 19.4%.Investor presentation, June 2026, p.31 and p.32
- Second half FY26
- ₹24.4 cr
- Revenue in the second half of FY26, against ₹32.5 cr a year earlier, as the company cut back bidding during the metal price jump.Investor presentation, June 2026, p.28 and p.32
- Order book
- ₹54.4 cr
- Orders in hand on 21 September 2026, up from ₹33 cr of firm purchase orders in May 2026.Announcement, 21 September 2026, p.1; Investor presentation, June 2026, p.20
- BHEL navy order
- ₹18.1 cr
- Order from BHEL in June 2026 for valves and components for the Indian Navy's five Fleet Support Ships, three within about a year and two by FY28.Announcement, 13 June 2026, p.1 and p.2
- Largest end use
- 30.8%
- Share of FY26 revenue from ethanol, breweries and industrial wastewater; shipbuilding and repair gave 24.5% and marine 8.3%.Investor presentation, June 2026, p.29
Show 5 more facts
- Metal price
- ₹1,250 → ₹1,650 per kg
- Rise in nickel aluminium bronze prices described by the managing director, on contracts with no price escalation.Earnings call, June 2026, p.6 and p.8
- Inventory
- ₹26.7 cr
- Inventory at March 2026, up from ₹16.2 cr; the company said about ₹10 cr of finished valves were held back pending a price revision.Investor presentation, June 2026, p.33; Earnings call, June 2026, p.6
- Borrowings
- ₹17.8 cr
- Short term borrowings at March 2026, more than double the ₹8.4 cr a year earlier, while cash fell to ₹2.5 cr from ₹9.5 cr.Investor presentation, June 2026, p.33
- Top ten customers
- 87.8%
- Share of FY24 revenue from the ten largest customers, down from 99.8% in FY22; no later figure is disclosed.Offer document, p.36
- Plant headroom
- About ₹120 cr
- Yearly revenue the managing director says the 45,000 sq ft Palghar plant can support; the presentation shows 85% utilisation, which the company says depends on valve sizes.Earnings call, June 2026, p.5 and p.11; Investor presentation, June 2026, p.18
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
The managing director said on the June 2026 call that growth in FY27 should be close to 50% or more, given the order book, and that about 80% of the previous year's revenue was already booked as orders by the first quarter. The company says it needs no new capacity up to about ₹120 cr of revenue, is adding machines and test benches, and is trying to move unused IPO money to working capital. Its order book stood at about ₹54.4 cr on 21 September 2026, much of it for the Indian Navy's Fleet Support Ship programme.
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
Rappid earns its money machining and testing certified valves for shipyards and process plants, with approvals that keep many smaller makers out of marine tenders.
Its weak spots are fixed price contracts that leave it exposed to metal prices, a few large customers, and cash tied up in stock and slow paying shipyard work.
WatchCan it set its own prices?Shipyard tenders fix the price for long periods with no escalation, so rising metal costs squeeze it unless it stops bidding.
AverageHow strong is it against rivals?Marine approvals are a real barrier to entry, but the industrial side competes with other Indian makers and exports compete with China.
WatchWho are its customers?Repeat customers in shipyards and distilleries, but a handful of them carry most of the revenue.
WatchDoes it need a lot of money?The plant needs little new spending, but stock and receivables have grown fast and borrowing has doubled.
StrongCan it keep finding new work?Orders have built up quickly since the year closed, led by naval shipbuilding programmes.
WatchDo good and bad years swing a lot?Results move with metal prices, foundry supply and how fast shipyards take delivery, so half years can differ sharply.
Who runs Rappid Valves (India)?
Promoters, directors and officers; tap a name for the background
GVGaurav Vijay DalalPromoter, Chairman and Managing Director · holds 48.08%
Holds a bachelor's programme in mechanical engineering and a diploma in mechanical engineering from Rajiv Gandhi Institute of Management and Technology. A promoter and director since the company was formed in 2002, with over two decades in valve manufacturing; leads product development, strategic planning and customer relationships, and is a director of Manray Foundation.
Offer document, p.189; Investor presentation, June 2026, p.24LPLohiya Padma MadhusudanNon-Executive Director
Holds a bachelor's in electronics and telecommunications engineering from Amravati University and a master's in engineering from the University of Pune; 13 years teaching engineering, including at D.Y. Patil College of Engineering, and now runs an interior design and photography practice. On the board since June 2024.
Offer document, p.190DGDinesh Gopal MundadaIndependent Director
A practising Chartered Accountant and Fellow of ICAI and an insolvency professional; earlier at Tata Communications and Gulf Bridge International, and a partner at DMKH & Co. since 2015, with 18 years of experience. On the board since May 2024.
Offer document, p.189 and p.190DPDayaram PaliwalIndependent Director
Self employed, appointed an independent director for five years from May 2024.
Offer document, p.189DBDipesh Bhalchandra DalviChief Financial Officer
Holds a commerce degree in accounting and finance and a Master of Management Studies from the University of Mumbai; earlier in accounts at Premium Chick Feeds, Bhageria Industries and Shreeshail Chemicals, and in the company's accounts team from 2021 to 2022. Chief Financial Officer since May 2024.
Offer document, p.198; Investor presentation, June 2026, p.25Rappid Valves (India) latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹24.4 cr (-25%), net profit ₹3.1 cr (-15%) on H2 FY25.
- Shareholding, 30 Sept 2026: promoters 51.69% to 51.73%.
- 21 Sept 2026: order worth ₹0.85 cr announced.
- 13 Aug 2026: order worth ₹2.84 cr announced.
Rappid Valves (India) announcements
64 on record, latest first; each opens the filing on the exchange
- Certificate under SEBI (Depositories and Participants) Regulations, 2018Certificate under SEBI (Depositories and Participants) Regulations, 2018PDF ↗
- Shareholders meetingSrutinizers report on the 24th Annual General Meeting held on September 24, 2026. Further, the company has informed the Exchange regarding voting resultsPDF ↗
- Trading WindowClosure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015PDF ↗
- AppointmentOf Nishtha Khandelwal as Secretarial Auditor of the company w.e.f. April 01, 2026PDF ↗
- Shareholders meetingProceedings of 24th Annual General Meeting held on September 24, 2026PDF ↗
- Updates'Rappid Valves (India) Limited has informed the Exchange regarding Strategic Business Update.'PDF ↗
- Bagging/Receiving of orders/contractsBagging/Receiving of orders/contractsPDF ↗
- Shareholders meetingNotice of 24th Annual General Meeting to be held on September 24, 2026PDF ↗
- Bagging/Receiving of orders/contractsBagging/Receiving of orders/contractsPDF ↗
- Updates'Rappid Valves (India) Limited submits the Business Update for Quarter ended June 30 2026PDF ↗
- General UpdatesGeneral Business Update for Quarter ended June 30 2026PDF ↗
- Certificate under SEBI (Depositories and Participants) Regulations, 2018For the quarter ended 30th June 2026PDF ↗
Rappid Valves (India) annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
- 30 June 2026 ↗read
- 26 May 2026 ↗read
- 30 June 2026 ↗read
- 9 March 2026 ↗read
Rappid Valves (India) share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Rappid Valves (India)'s data · 9
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (51,91,984 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter pledge figures are within possible limits in every shareholding pattern shown.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- ✓Earnings per share moves in line with profit across the years shown.
- ✓Revenue and profit are reported for every year shown, FY22 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Rappid Valves (India)
What does Rappid Valves (India) do?
Rappid Valves makes valves, the parts that open, close and control the flow of liquids and gases in pipes, for ships, naval shipyards, distilleries, chemical plants and oil and gas sites. It has one factory in Palghar, Maharashtra, and its shares trade on NSE Emerge.
What is the share price of Rappid Valves (India)?
₹368 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Rappid Valves (India)?
₹191 cr at the close on 6 Nov 2026, on 51,91,984 shares.
What is the P/E of Rappid Valves (India)?
29.5 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Rappid Valves (India)'s revenue and profit?
Revenue ₹53 cr and profit after tax ₹6 cr in FY26.
Who are the promoters of Rappid Valves (India)?
Gaurav Vijay Dalal; promoters held 51.73% at 30 Sept 2026.
What was the IPO price of Rappid Valves (India)?
₹222 a share; it listed on 30 Sept 2024.
What is Rappid Valves (India)'s website?
www.rappidvalves.in
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Built from 2 earnings call transcripts, 2 investor presentations, 2 annual reports, 1 offer document, 1 result filing, 64 exchange announcements, 5 shareholding patterns and 5 years of reported results. Every figure carries its source; where the documents are silent, the page says so.