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Rasi Electrodes Limited (531233) Fair Value & Analysis

Industrial Goods · IN · Market cap ₹85.0M

RE Rasi Electrodes Limited 531233 · BSE
Price₹12.17
Fair Value₹16.39
Upside+34.7%
Quality63/100
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Healthy Growth
Thin margins · 0.2% net margin
generates free cash flow
1.96% dividend yield
Ranks above peers (8/13)
Narrow moat 12/100
Evidence: High Range ₹12.30 – ₹21.03 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 5 days ago

A solid business, screening 35% undervalued on our models.

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What matters now

  • Solid quality (63/100) at a price below fair value, the discount is the argument here, not the business quality.
  • Our model range runs from ₹12.30 (bear) to ₹21.03 (bull), base ₹16.39. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 63/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

₹43.35 ₹3.47 Fair Value ₹16.39 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹3.47 – ₹43.35 · fair‑value band ₹12.30 – ₹21.03 · the ₹12.17 price screens below the ₹16.39 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Rasi Electrodes Limited (531233) currently trades at ₹12.17, while our model-based Fair Value estimate is ₹16.39, implying the stock looks roughly 34.7% undervalued today. The Quality Score stands at 63/100 (solid quality), in the Industrial Goods sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Rasi Electrodes Limited generated revenue of ₹341M at a net margin of 0.2%. Revenue declined 21.1% year over year. It earns a return on equity of 0.3%. Net debt stands at ₹31.3M. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹12.30 (bear case) to ₹21.03 (bull case); at ₹12.17, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 46% below its 52-week high and 31% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrial Goods peers we cover trades at -43% fair-value upside, at 35%, 531233 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income ₹9.54 ₹9.94 ₹10.41 76
Growth DCF ₹16.12 ₹21.02 ₹26.66 72
Gordon GGM ₹0.8600 ₹1.45 ₹1.88 70
All 26 models by family
DCF Models
FCF DCF ₹16.03 ₹21.64 ₹28.44 38
Owner Earnings ₹9.94 ₹13.38 ₹17.55 31
5Y Revenue Exit ₹11.89 ₹16.48 ₹22.04 39
5Y EBITDA Exit ₹12.78 ₹18.11 ₹24.06 41
5Y P/E Exit ₹15.93 ₹23.89 ₹31.99 38
10Y Revenue Exit ₹13.41 ₹17.57 ₹22.68 36
10Y EBITDA Exit ₹14.08 ₹18.53 ₹23.96 37
10Y P/E Exit ₹15.79 ₹21.93 ₹29.04 35
Earnings-Based
Graham-Dodd ₹7.68 ₹21.71 ₹28.58 54
Lynch FV ₹4.41 ₹6.30 ₹8.19 50
PEG = 1.0 ₹4.41 ₹6.30 ₹8.19 46
EPV ₹6.53 ₹7.29 ₹7.90 59
Dividend Discount
Gordon GGM ₹0.8600 ₹1.45 ₹1.88 70
DDM Multi-Stage ₹0.8600 ₹1.25 ₹1.56 61
Multiples
P/E Multiple ₹17.79 ₹23.72 ₹29.65 63
P/S Multiple ₹14.40 ₹19.20 ₹24.00 58
P/B Multiple ₹14.40 ₹19.20 ₹24.00 55
EV/EBIT ₹12.70 ₹16.85 ₹21.00 53
EV/EBITDA ₹11.60 ₹15.37 ₹19.15 54
EV/Revenue ₹9.14 ₹12.95 ₹16.75 43
Asset-Based
NCAV (Graham) ₹6.24 ₹8.36 ₹12.48 50
Growth DCF
Growth DCF ₹16.12 ₹21.02 ₹26.66 72
Rev-Margin DCF ₹11.89 ₹16.74 ₹22.27 67
Economic Profit
Residual Income ₹9.54 ₹9.94 ₹10.41 76
ROIC Compounder ₹6.53 ₹7.29 ₹7.90 67
Growth Earnings
Growth-Adj P/E ₹14.24 ₹20.34 ₹26.45 68

Widest divergence: Growth Earnings (₹20.34) versus Dividend Discount (₹1.25). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) ₹341M
Revenue growth (YoY) -21.1%
Net margin 0.2%
Return on equity 0.3%
Free cash flow ₹60.4M FY2026
P/E ratio 41.2 as of Jul 4, 2026
More key figures
Operating margin -0.9%
EPS (TTM) ₹0.0230
Dividend yield 2.0%
EPS growth (YoY) -22.7%
Net debt ₹31.3M FY2023

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 63/100

Of which business quality 67 · Market factors (momentum, volatility) 32

Profitability 60
Margins and returns on capital today
Quality Growth 38
Are margins and returns improving?
Cashflow 68
Earnings quality: real cash, not paper profit
Fin. Strength 81
Balance sheet, leverage, solvency risk
Investment 74
Disciplined investing over empire-building
Low Volatility 72
Calm price path (market factor)
Momentum 18
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Rasi Electrodes Limited manufactures and markets arc welding electrodes and copper coated mild steel wires for use in engineering and fabrication industries in India.

Full company description

Rasi Electrodes Limited manufactures and markets arc welding electrodes and copper coated mild steel wires for use in engineering and fabrication industries in India. It offers cast iron, cutting and couging, general purpose mild steel welding, hard surfacing welding, low hydrogen and creep resistance, non-ferrous, pipe welding, tungsten, and stainless steel welding electrodes. The company also provides low heat input welding alloys for cast iron, copper and non-ferrous alloys, cutting and gouging, dissimilar steels, nickel and nickel alloys, stainless steels, hard facing and wear resistance, and steel. In addition, it offers copper coated mild steel, low alloy high tensile, stainless steel, and zero-copper mild steel welding wires; aluminium and brazing filler, mild steel and low alloy, and stainless steel filler wires; and sub arc welding wires and welding flux. Further, the company provides angle grinders and cutting machines, as well as tungsten rods; arc and MIG welding, plasma cutting, and TIG welding machines; and carbon steel, stainless still, and hard facing flux cored wires, low alloy high tensile, and metal cored wires. It markets and sells its products under the RASI brand for public sector undertakings, larger private sector engineering conglomerates, and other original equipment manufacturers. Rasi Electrodes Limited was founded in 1994 and is based in Chennai, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Rasi Electrodes Limited reported revenue of ₹720M in FY2026 versus ₹684M in FY2022, a compound +1.3%/yr. Reported net income was ₹35.2M in FY2026, compounding +14.5%/yr from FY2022.

Growth Quality 86/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
₹720M
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+6.0%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+12.1%
Avg. growth/yr (11Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+13.3%
Revenue +1.3%/yr
FY22 ₹684M
FY23 ₹875M
FY24 ₹838M
FY25 ₹814M
FY26 ₹720M
Net income +14.5%/yr
FY22 ₹20.5M
FY23 ₹30.1M
FY24 ₹32.0M
FY25 ₹27.4M
FY26 ₹35.2M

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Cite: Fair Value Calculator (2026). "Rasi Electrodes Limited Fair Value". https://www.fairvalue-calculator.com/stock/531233

Peer Group

Industrial Goods · 22 stocks

How this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Machine Tools & Accessories” was too small, so the broader sector is used.)

Quality Score 63 · Top 25%
Fair Value upside +38% · Top 25%
Return on equity (TTM) 0% · Above median
Return on assets -1% · Bottom 25%
Net margin (TTM) 0% · Below median
Operating margin (TTM) -1% · Below median
Revenue growth -21% · Above median
Dividend yield (TTM) 2.0% · Top 25%

Valuation Multiples vs Industrial Goods median · lower = cheaper

P/E (TTM) 41.2× · Pricier than 75% of peers
P/B 0.22× · Cheaper than median
P/S (TTM) 0.25× · Cheaper than median
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 12.9× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 84 · sector 0
FUTURE 0 · sector 0
PAST 1 · sector 0
HEALTH 0 · sector 98
DIVIDEND 39 · sector 2

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Machine Tools & Accessories stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
ESAB India Limited 500133 ₹6,241 ₹2,116 -66%
Frontier Springs Limited 522195 ₹1,510 ₹190.81 -87%
DHP India Limited 531306 ₹533.30 ₹466.45 -13%
Fluidomat Limited 522017 ₹898.65 ₹515.90 -43%
Austin Engineering Company 522005 ₹122.40 ₹161.49 +32%
Solitaire Machine Tools Limited 522152 ₹108.60 ₹62.19 -43%
Hittco Tools Limited 531661 ₹11.33 ₹15.35 +35%
Shree Cement Limited 500387 ₹25,410 ₹4,548 -82%
Siemens Limited 500550 ₹4,019 ₹892.67 -78%
Bharat Electronics Limited 500049 ₹404.00 ₹294.84 -27%

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Frequently asked questions

Is Rasi Electrodes Limited (531233) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹16.39 versus a price of ₹12.17, about +35% (undervalued).
What is the fair value of 531233?
Our model-based fair value for Rasi Electrodes Limited is ₹16.39 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹12.17.
What is the quality score of 531233?
Rasi Electrodes Limited has a Quality Score of 63/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Rasi Electrodes Limited (531233)?
Rasi Electrodes Limited reported trailing-twelve-month revenue of about ₹341M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 531233?
The net profit margin of Rasi Electrodes Limited is about 0.2%, meaning it keeps roughly 0.2% of revenue as net income. Based on the latest reported figures.
Does Rasi Electrodes Limited pay a dividend?
Rasi Electrodes Limited currently shows a dividend yield of about 1.96% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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