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R.J. Shah & Co. Ltd.

R.J. Shah & Co. Ltd.

RJSHAH.BO
R.J. Shah & Co. Ltd.IN flagBombay Stock Exchange
528.05
INR
- -
- -
147.91MMarket Cap
R.J. Shah & Co. Ltd.
RJSHAH.BO
(Bombay Stock Exchange)

Recent

price

528.05

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
121.95
48.05
159.96
116.56
92.64
29.03
518.96
- -
157.09
557.54
- -
- -
9.73
- -
373.45
- -
9.67
Revenue per Share
74.81
8.62
15.96
16.44
16.61
3.49
164.63
13.4
98.72
224.08
18.63
19.47
20.66
133.39
205.44
- -
85.88
Basic EPS, GAAP
16.05
-27.49
-14.83
- -
- -
-20.27
283.98
- -
59.46
351.15
-56.8
-72.08
-48.74
-166.02
75.17
- -
- -
Free Cash Flow per Basic Share
1.58
9.8
1.62
- -
- -
1.45
1.02
- -
1.81
6.03
10
2.5
2.5
2.5
2.5
- -
- -
Dividend per Share
71.47
74.78
85.42
- -
10
107.3
256.2
10
385
599.48
606.32
621.51
637.88
766.98
10
- -
9.99
Book Value per Share
544.69
548.63
559.87
- -
583.37
585.42
737.25
772.45
868.72
1,086.14
1,094.14
1,110.49
1,128.01
1,258.26
1,459.19
- -
1,540.7
Tangible Book Value per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Basic Weighted Avg Shares
34
13
45
33
26
8
145
- -
44
156
- -
- -
3
- -
105
3
3
Sales/Revenue/Turnover
95.42
-4.63
4.91
25.26
31.75
-49.28
40.29
- -
64.34
39.68
- -
- -
-293.32
- -
57.9
397.05
397.05
Operating Margin (%)
2
2
1
1
2
2
1
1
1
1
1
1
1
1
1
1
1
Depreciation Expense
21
2
4
5
5
1
46
4
28
63
5
5
6
37
58
24
24
Net Income, GAAP
33.32
30.56
30.91
32.42
31.98
29.98
33.17
24.95
28.02
25.45
26.57
28.94
27.09
15.88
25.35
25.62
25.62
Effective Tax Rate (%)
61.34
17.93
9.98
14.1
17.93
12.02
31.72
- -
62.84
40.19
- -
- -
212.41
- -
55.01
888.3
888.34
Profit Margin (%)
141
125
132
- -
145
145
167
196
225
294
-5
-4
1
28
77
21
21
Working Capital
9
4
3
- -
3
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
LT Debt
153
154
157
- -
163
164
207
216
243
304
306
311
316
352
409
432
432
Total Equity
14.22
-0.26
0.89
6.46
6.27
-1.58
19.78
-2.02
8.42
16.15
-2.7
-2.38
-1.79
-1.89
11.51
1.85
1.85
Return on Invested Capital (%)
87.23
7.28
11.56
23.23
51.31
6.31
74.06
9.65
42.35
42.47
3.43
3.48
3.59
18.42
48.37
166.54
16.84
Return on Capital (%)
129.6
11.78
19.92
38.49
332.31
5.95
90.58
10.07
49.98
45.52
3.09
3.17
3.28
18.99
52.88
859.44
17.6
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
12
- -
12
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
- -
- -
- -
Market Capitalization
168
148
148

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
32
- -
48
Cash, Cash Equivalents & STI
7
- -
9
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
30
Total Current Liabilities
35
- -
27
Payables & Accruals
- -
- -
- -
ST Debt
12
- -
12
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
10.52%
7.25%
5.68%
Free Cash Flow
- -
-17.97%
-179.72%
Net Income, GAAP
574.96%
110.44%
-58.17%
Sales/Revenue/Turnover
- -
- -
-97.41%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
105
105
2026
- -
- -
- -
3
3

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
4.03
5.02
4.21
- -
133.39
2025
4.2
5.63
3.9
191.71
205.44
2026
6.3
0.26
7.92
71.46
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
2.5
2025
- -
- -
- -
- -
2.5
2026
- -
- -
- -
- -
- -
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Business
R.J. Shah & Co. Ltd. (RJSHAH.BO) engages in civil engineering construction, specializing in tunnels and civil works for hydroelectric projects, railways, irrigation projects, and atomic energy facilities primarily in India. Incorporated in 1957 and headquartered in Mumbai, Maharashtra, the company executes engineering, procurement, and construction (EPC) contracts or civil works with hydro-mechanical packages for small- and medium-sized hydroelectric projects; it undertakes underground works including tunnels, cavern shafts, and inclined tunnels for government departments, semi-government entities, electricity boards, railways, atomic power stations, and irrigation authorities. The company maintains a near debt-free balance sheet with operations focused on challenging terrains and contributes to over 800 MW of hydroelectric power generation historically, employing 13 staff as of recent reports. Recent developments include a strong fiscal 2025 performance with revenue of INR 10.5 crore and profit of INR 5.67 crore, alongside routine corporate governance actions such as the annual general meeting outcome in September 2025 and compliance filings under SEBI regulations; working capital days expanded to 262 amid high debtor days of 358, while ROCE reached 19.98% and ROE stood at 15.1%.