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Raj Oil Mills Limited (RAJOIL) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of Raj Oil Mills Limited ₹14.04, price ₹42.35, upside -66.9%, quality 51 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? Yes
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Thin data
Sep 24, 2026
Raj Oil Mills Limited
RAJOIL · BSEStretched ValuationStrong overvaluation with only moderate quality.
!Fair value ₹14.04 · Strongly overvalued (−66.9%)
!Quality 51/100
!Mixed Growth (revenue 5y +18.6 %/yr)
!Thin margins · 1.7% net margin (FY2023)
!Negative equity (buybacks among others) · negative free cash flow
!Narrow moat 30/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock
26
valuation models
8 families, DCF to NCAV
37
quality factors
margins, balance sheet, cashflow, debt
6
AI factors
moat, what no ratio measures
2,000+
data points
verified, per stock, median
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range ₹34.72 – ₹100.35 · fair‑value band ₹14.04 – ₹22.14 · the ₹42.35 price screens above the ₹14.04 fair value. Dashed = 300-day average. As of Sep 24, 2026.
Company profile
Raj Oil Mills Limited manufactures and markets edible oils and cakes in India. The company offers edible oils under the Guinea, Cocoraj, Tilraj, and Mustraj brands; and provides oil for using in lamps and diyas under the Divya Shakti brand. Raj Oil Mills Limited was founded in 1943 and is based in Mumbai, India.
Stock analysis
Raj Oil Mills Limited (RAJOIL) currently trades at ₹42.35, while our model-based Fair Value estimate is ₹14.04, 66.9% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹29.09 per share, and 1 of the 12 models we run sit above the ₹42.35 price.
Bear case: the Economic Profit group reads lowest at ₹12.46, and 11 of the 12 models stay below the price. Evidence for this calculation is low.
Scenario range: ₹14.04 (bear) to ₹22.14 (bull), the price of ₹42.35 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 51/100 (solid quality), in the Consumer Non-Cyclicals sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Raj Oil Mills Limited reported revenue of ₹1.4B in FY2023 versus ₹714M in FY2019, a compound +18.4%/yr. Reported net income was ₹24.2M in FY2023.
Key figures
Market cap ₹747M (≈ $7.8M) · P/E ratio 41.0 · P/S ratio 0.71 · Net margin 1.7% · Return on assets (EBIT) −31.4% · Free cash flow −₹135K · Net debt ₹275M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).
What moves the price
The share trades about 31% below its 52-week high and 12% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Non-Cyclicals peers we cover trades at −24% fair-value upside, at −67%, RAJOIL screens richer than that median.
Fair Value models
Bear ₹14.04
Fair Value ₹14.04
Bull ₹22.14
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.
Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
EPV
₹10.79
₹12.46
₹13.91
74
Owner Earnings
₹11.82
₹22.26
₹40.80
73
ROIC Compounder
₹10.79
₹12.46
₹13.91
72
All 12 models by family
DCF Models
Owner Earnings
₹11.82
₹22.26
₹40.80
73
Earnings-Based
Graham-Dodd
₹9.35
₹50.07
₹69.37
63
Lynch FV
₹13.83
₹19.76
₹25.69
61
PEG = 1.0
₹13.83
₹19.76
₹25.69
57
EPV
₹10.79
₹12.46
₹13.91
74
Multiples
P/E Multiple
₹21.65
₹28.86
₹36.08
63
P/S Multiple
₹17.52
₹23.36
₹29.21
58
EV/EBIT
₹16.71
₹22.22
₹27.73
66
EV/EBITDA
₹20.83
₹27.71
₹34.59
67
EV/Revenue
₹11.98
₹17.03
₹22.09
53
Economic Profit
ROIC Compounder
₹10.79
₹12.46
₹13.91
72
Growth Earnings
Growth-Adj P/E
₹20.37
₹29.09
₹37.82
67
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Set up alert →Quality Score breakdown
Overall quality
51/100
Of which business quality 50 · Market factors (momentum, volatility) 27
Profitability
63
Margins and returns on capital today
Quality Growth
56
Are margins and returns improving?
Cashflow
17
Earnings quality: real cash, not paper profit
Fin. Strength
34
Balance sheet, leverage, solvency risk
Investment
69
Disciplined investing over empire-building
Low Volatility
34
Calm price path (market factor)
Momentum
28
Price trend over the last 3–12 months (market factor)
52W Momentum
19
Distance to the 52-week high (market factor)
Net Issuance
82
Share count: buybacks or dilution?
Revenue & earnings trend
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.
50/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+18.4%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+19.2%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+18.6%
Revenue growth 9 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+8.4%
’14
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What shareholders gained per year (last 3 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−4.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−4.4%
Dividend (yield on the price)0.0%
Profit margin 2017 to 2023 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−11% → 2%
RAJOIL screens overvalued: fair value 67% below the price. Compare with FB →
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Food & Tobacco · 25 stocks
Beats the industry median on 3/7 measures
A mixed picture versus its industry peers.
Valuation Multiplesvs Food & Tobacco median · lower = cheaper
Context: sector, industry, market
- Is the Consumer Staples sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Indian Stocks
- Valuation of the India market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Tobacco
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Frequently asked questions
Is Raj Oil Mills Limited (RAJOIL) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ₹14.04 versus a price of ₹42.35, about −67% upside (overvalued).
What is the fair value of RAJOIL?
Our model-based fair value for Raj Oil Mills Limited is ₹14.04 (as of Sep 24, 2026), built from audited fundamentals. The current price: ₹42.35.
What is the quality score of RAJOIL?
Raj Oil Mills Limited has a Quality Score of 51/100. 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 price target for Raj Oil Mills Limited (RAJOIL)?
Our model-based price target is the fair value of ₹14.04 (as of Sep 24, 2026) from 12 valuation models. Cautious scenario ₹14.04, optimistic scenario ₹22.14. It is a calculation from audited fundamentals, not an analyst target.
What is the Raj Oil Mills Limited stock forecast for 2026?
Our models put fair value at ₹14.04, about −67% upside versus a price of ₹42.35 (overvalued). Cautious scenario ₹14.04, optimistic scenario ₹22.14. The calculation is refreshed regularly with new filings.
What is the intrinsic value of Raj Oil Mills Limited (RAJOIL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Raj Oil Mills Limited it is ₹14.04 per share (as of Sep 24, 2026), against a price of ₹42.35. It is the blended result of 12 valuation models (cash flow, earnings, asset, dividend).
Is Raj Oil Mills Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, RAJOIL trades above its calculated fair value: price ₹42.35, fair value ₹14.04, a gap of about −67% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of RAJOIL?
No. The price is what the market pays today (₹42.35); the fair value is what the company's own numbers justify (₹14.04). For Raj Oil Mills Limited the two are ₹28.31 per share apart. That gap is exactly why we show both numbers side by side.
How much is Raj Oil Mills Limited worth?
The market values Raj Oil Mills Limited at about ₹747M (market capitalisation, as of Sep 24, 2026). Per share that is ₹42.35; our models calculate a fair value of ₹14.04 per share.
What do the bullish and bearish scenarios say about RAJOIL?
Our models span a range for Raj Oil Mills Limited: cautious scenario ₹14.04, base ₹14.04, optimistic ₹22.14 per share (as of Sep 24, 2026, price ₹42.35). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of RAJOIL?
Raj Oil Mills Limited trades at a price-to-earnings ratio of 41.0 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹14.04 is built from several models across several years.
How far is RAJOIL from its 52-week high?
Raj Oil Mills Limited trades at ₹42.35, about 31% below its 52-week high of ₹61.02 and 12% above the low of ₹37.77 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of ₹14.04 is for.
Which stocks are comparable to Raj Oil Mills Limited?
From the same area (Consumer Non-Cyclicals) we also value FB, URC, MONDE, CNPF, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Raj Oil Mills Limited stock attractive at the current price?
The data as of Sep 24, 2026: price ₹42.35, calculated fair value ₹14.04 (−67%), Quality Score 51/100, from 12 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of RAJOIL calculated?
We run Raj Oil Mills Limited through 12 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹14.04, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Raj Oil Mills Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Raj Oil Mills Limited (RAJOIL)?
The closing price on Sep 30, 2026 was ₹42.35. Our model-based fair value is ₹14.04, about −67% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Raj Oil Mills Limited right now?
The price sits above even our optimistic bull case (₹22.14). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Raj Oil Mills Limited
How large is the market capitalisation of Raj Oil Mills Limited (RAJOIL)?
The market capitalisation of Raj Oil Mills Limited is ₹747M (≈ $7.8M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Raj Oil Mills Limited (RAJOIL)?
The price-to-sales ratio of Raj Oil Mills Limited is 0.71 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of Raj Oil Mills Limited (RAJOIL)?
The net margin of Raj Oil Mills Limited is 1.7% (fiscal year 2023). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the EBIT return on assets of Raj Oil Mills Limited (RAJOIL)?
On an EBIT basis the return on assets of Raj Oil Mills Limited is −31.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
How much free cash flow does Raj Oil Mills Limited (RAJOIL) generate?
The free cash flow of Raj Oil Mills Limited is −₹135K (fiscal year 2023). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Raj Oil Mills Limited (RAJOIL) carry?
The net debt of Raj Oil Mills Limited is ₹275M (fiscal year 2023). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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