R M Drip & Sprinklers Systems Ltd (RMDRIP) — share price & stock analysis
From losses in FY19 and FY22 to record profits — the comeback is real, the price knows it.
R M Drip & Sprinklers Systems Ltd (RMDRIP) trades at ₹19.9 as of 1 July 2026, down 40% over the past year — trailing NIFTY 500 for 22 weeks. The machine reads this as turnaround: from losses in FY19 and FY22 to record profits — the comeback is real, the price knows it. the price is in Stage 4 — declining, 13 weeks in; the business cycle reads DEEP CYCLICAL / EXPANSION. Fundamentals-momentum score: 38/100 (deteriorating).
Data as of 1 July 2026 · every number traces to its Screener source column · not investment advice.
- Market cap
- ₹852 Cr
- P/E
- 24.4×
- ROE
- 36.6%
- Book value / share
- ₹2.6
- Revenue (FY26)
- ₹197 Cr
- Profit after tax (FY26)
- ₹35 Cr
- Weinstein stage
- Stage 4 (13 weeks)
- Data as of
- 1 July 2026
Profits swing violently in this business — real losses in FY19 and FY22. That is what “deep cyclical” means: the same company looks brilliant at the top of its cycle and broken at the bottom.net_profit
Where the clock stands now: earnings sit at 100% of their historical range, margins are near the top of their band, and valuation history is thin. That reads as EXPANSION — the comfortable middle — but the records are already on the table; from here the bet is that they keep coming.net_profit
2 of the 5 things we track are currently moving the right way — most of the dashboard is red.
Where the levels actually stand: ROCE 37% — a high-quality engine; debt moderate (0.49× equity); margins near the top of their band. Momentum says which way things are moving; these say where they are.
Read this number for what it is: it measures the DIRECTION of change, not the quality of the business. A mediocre business getting better scores high here; a great one having a soft quarter scores low. Profit, sales and margins count double.
The price is in a downtrend — fighting it is expensive
STAGE 4 · DECLINING · 13 WEEKSPrice trends have a life cycle: they base (1), advance (2), top out (3) and decline (4). This chart is in Stage 4: declining — 13 weeks so far, confirmed.stage
The price is below its falling 200-day average — history says most of the damage in stocks happens here. Cheap can get cheaper in Stage 4.dma_200
Trailing NIFTY 500 for 22 weeks — relative strength is the market’s live opinion, and right now it is against it.rs_mansfield
What would end it: two Friday closes in a row below the 200-day line. That is the house exit rule — mechanical, no debates.dma_200
Data: Weekly price, moving averages and stage (sampled — full series in the embedded dataset)
| Period | Price (₹) | 200-DMA (₹) | 50-DMA (₹) | Stage |
|---|---|---|---|---|
| Oct 17 | 3.3 | 3.4 | 3.4 | 4 |
| Dec 17 | 4.3 | 3.7 | 4.1 | 2 |
| Feb 18 | 3.3 | 3.8 | 4.0 | 2 |
| Apr 18 | 3.5 | 3.6 | 3.5 | 4 |
| Jun 18 | 3.6 | 3.8 | 4.0 | 2 |
| Aug 18 | 2.8 | 3.5 | 3.1 | 4 |
| Oct 18 | 2.9 | 3.4 | 3.0 | 4 |
| Dec 18 | 2.0 | 3.1 | 2.4 | 4 |
| Feb 19 | 3.0 | 3.0 | 2.7 | 4 |
| Apr 19 | 2.2 | 3.0 | 2.8 | 1 |
| Jun 19 | 1.5 | 2.5 | 1.8 | 4 |
| Sep 19 | 0.9 | 2.1 | 1.2 | 4 |
| Nov 19 | 1.2 | 1.9 | 1.1 | 4 |
| Jan 20 | 1.4 | 1.7 | 1.1 | 4 |
| Mar 20 | 1.0 | 1.6 | 1.3 | 4 |
| May 20 | 2.9 | 1.8 | 2.1 | 2 |
| Jul 20 | 2.9 | 2.3 | 3.0 | 2 |
| Oct 20 | 3.3 | 2.5 | 3.0 | 2 |
| Dec 20 | 3.0 | 2.7 | 3.1 | 2 |
| Feb 21 | 1.9 | 2.5 | 2.2 | 4 |
| Apr 21 | 1.2 | 2.2 | 1.6 | 4 |
| Jun 21 | 1.4 | 1.9 | 1.4 | 4 |
| Sep 21 | 1.1 | 1.7 | 1.3 | 4 |
| Nov 21 | 0.9 | 1.6 | 1.1 | 4 |
| Feb 22 | 0.9 | 1.5 | 1.0 | 4 |
| Apr 22 | 1.0 | 1.3 | 0.9 | 4 |
| Jul 22 | 0.9 | 1.3 | 0.9 | 4 |
| Sep 22 | 0.9 | 1.2 | 0.9 | 4 |
| Dec 22 | 1.0 | 1.1 | 1.0 | 4 |
| Feb 23 | 1.3 | 1.1 | 1.0 | 4 |
| Apr 23 | 3.0 | 1.5 | 2.1 | 2 |
| Jun 23 | 2.9 | 2.0 | 2.9 | 2 |
| Aug 23 | 2.8 | 2.1 | 2.8 | 2 |
| Oct 23 | 3.1 | 2.3 | 2.8 | 2 |
| Dec 23 | 6.1 | 3.1 | 4.6 | 2 |
| Mar 24 | 8.2 | 4.1 | 6.1 | 2 |
| May 24 | 7.8 | 5.0 | 7.3 | 2 |
| Jul 24 | 8.8 | 6.0 | 8.1 | 2 |
| Sep 24 | 12.7 | 7.6 | 10.4 | 2 |
| Nov 24 | 18.7 | 10.2 | 14.6 | 2 |
| Jan 25 | 23.3 | 13.8 | 20.4 | 2 |
| Mar 25 | 23.7 | 16.7 | 22.6 | 2 |
| May 25 | 31.8 | 20.2 | 26.9 | 2 |
| Jul 25 | 34.4 | 24.7 | 31.9 | 2 |
| Sep 25 | 45.6 | 30.5 | 40.5 | 2 |
| Nov 25 | 46.1 | 35.3 | 44.2 | 2 |
| Jan 26 | 58.8 | 40.3 | 49.8 | 2 |
| Mar 26 | 22.0 | 42.2 | 41.3 | 2 |
| May 26 | 17.9 | 35.2 | 24.5 | 4 |
| Jul 26 | 19.9 | 31.9 | 21.0 | 4 |
Losses, then a rebuild: profits are at an all-time high
Over 12 years, sales went from ₹3.0 Cr to ₹197 Cr (about 42% a year), and profit from ₹0.0 Cr to ₹35.0 Cr.revenuenet_profit
The books show real losses in FY19 and FY22 (worst: ₹−5.0 Cr). Everything about today’s cheap-looking numbers must be read against that history — the recovery is what you are buying.net_profit
Data: Revenue by year
| Period | Revenue (₹ Cr) |
|---|---|
| FY14 | 3 |
| FY15 | 5 |
| FY16 | 12 |
| FY17 | 28 |
| FY18 | 43 |
| FY19 | 22 |
| FY20 | 23 |
| FY21 | 18 |
| FY22 | 18 |
| FY23 | 11 |
| FY24 | 50 |
| FY25 | 131 |
| FY26 | 197 |
Data: Profit by year
| Period | Profit after tax (₹ Cr) |
|---|---|
| FY14 | 0 |
| FY15 | 0 |
| FY16 | 0 |
| FY17 | 1 |
| FY18 | 2 |
| FY19 | -5 |
| FY20 | 3 |
| FY21 | 0 |
| FY22 | -1 |
| FY23 | 0 |
| FY24 | 5 |
| FY25 | 24 |
| FY26 | 35 |
Data: OPM % by year
| Period | OPM % (%) |
|---|---|
| FY14 | 0.0 |
| FY15 | 0.0 |
| FY16 | 8.3 |
| FY17 | 10.7 |
| FY18 | 11.6 |
| FY19 | -13.6 |
| FY20 | 17.4 |
| FY21 | 11.1 |
| FY22 | 5.6 |
| FY23 | -9.1 |
| FY24 | 10.0 |
| FY25 | 27.5 |
| FY26 | 26.4 |
Sales jumped 27% last quarter — the 4th straight quarter of growth
Mar 26 sales were ₹61.1 Cr, up 27% on the same quarter last year.revenue
That makes 4 quarters of growth in a row — this is a trend, not a blip.revenue
Data: Quarterly sales
| Period | Revenue (₹ Cr) | YoY growth (%) |
|---|---|---|
| Mar 18 | 22.0 | – |
| Jun 24 | 17.0 | – |
| Sep 24 | 17.0 | – |
| Dec 24 | 48.0 | – |
| Mar 25 | 48.0 | – |
| Jun 25 | 30.0 | 79.2 |
| Sep 25 | 31.0 | 79.8 |
| Dec 25 | 75.0 | 55.0 |
| Mar 26 | 61.0 | 26.7 |
Margins are compressing — 31% → 21% in a year
Of every ₹100 of sales, the company keeps ₹21.0 as operating profit (a year ago it kept ₹31.1).opm_pct
Zoom out and this is the page's quiet hero: annual operating margin bottomed at −9.1% in FY23 and has been rebuilt to 26.4% — that recovery, not sales alone, is what powers the profit growth elsewhere on this page.operating_profit
The gross margin barely moved (43% → 45%), so the change came from running costs — overheads are growing faster than sales.gpm_pctopm_pct
Data: Three margins, quarterly
| Period | Gross (%) | Operating (%) | Net (%) |
|---|---|---|---|
| Sep 22 | -15.3 | -73.9 | -96.6 |
| Mar 23 | 48.3 | 25.8 | 52.4 |
| Sep 23 | 73.7 | 15.4 | 7.0 |
| Mar 24 | 33.9 | 10.0 | 11.5 |
| Jun 24 | 41.6 | 16.9 | 10.0 |
| Sep 24 | 41.9 | 17.5 | 10.6 |
| Dec 24 | 42.9 | 30.9 | 21.3 |
| Mar 25 | 42.9 | 31.1 | 21.3 |
| Jun 25 | 46.6 | 28.8 | 17.4 |
| Sep 25 | 47.0 | 26.9 | 18.4 |
| Dec 25 | 42.7 | 30.2 | 18.8 |
| Mar 26 | 45.0 | 21.0 | 16.4 |
Profit is treading water
Mar 26 profit after tax was ₹10.0 Cr, down 3% year on year.net_profit
Data: Quarterly profit after tax
| Period | PAT (₹ Cr) | YoY growth (%) |
|---|---|---|
| Mar 18 | 2.0 | – |
| Jun 24 | 2.0 | – |
| Sep 24 | 2.0 | – |
| Dec 24 | 10.0 | – |
| Mar 25 | 10.0 | – |
| Jun 25 | 5.0 | 212.4 |
| Sep 25 | 6.0 | 213.1 |
| Dec 25 | 14.0 | 36.8 |
| Mar 26 | 10.0 | -2.8 |
The single biggest driver was margins giving way.
Data: Where the profit change came from (Mar 25 → Mar 26)
| Component | Effect (₹ Cr) |
|---|---|
| PAT Mar 25 | 10 |
| More sales | +4 |
| Thinner margins | −6 |
| Other income | −0 |
| Depreciation | −0 |
| Interest | +0 |
| Tax | +2 |
| PAT Mar 26 | 10 |
Profits on paper, cash lagging behind
Over the last 3 profitable years, the business reported ₹64.0 Cr of profit and collected ₹−54.0 Cr of operating cash — about -84% conversion (2 loss years excluded — a negative denominator would flatter the ratio).operating_cash_flownet_profit
The wrinkle is the latest year: FY26 collected ₹−13.0 Cr against ₹35.0 Cr of reported profit — about -37%. One year isn’t a trend, but it is the line to watch.operating_cash_flownet_profit
Data: Cash collected vs profit reported (annual)
| Period | Operating cash flow (₹ Cr) | Profit after tax (₹ Cr) |
|---|---|---|
| FY14 | 0.0 | 0.0 |
| FY15 | 1.0 | 0.0 |
| FY16 | 1.0 | 0.0 |
| FY17 | 3.0 | 1.0 |
| FY18 | -6.0 | 2.0 |
| FY19 | 2.0 | -5.0 |
| FY20 | 2.0 | 3.0 |
| FY21 | 3.0 | 0.0 |
| FY22 | 1.0 | -1.0 |
| FY23 | -2.0 | 0.0 |
| FY24 | -14.0 | 5.0 |
| FY25 | -27.0 | 24.0 |
| FY26 | -13.0 | 35.0 |
The cash cycle is tightening — money comes home faster
One rupee now takes about 268 days to go out the door as materials and come back as collected cash — down from 333 days the year before.cash_conversion_cycle
The biggest mover: customers paying faster (301 → 253 days).debtor_days
Data: Days of cash locked up (annual)
| Period | Customers owe (debtor days) (days) | Stock on shelf (inventory days) (days) | We owe suppliers (payable days) (days) |
|---|---|---|---|
| FY14 | 88.0 | 109 | 76.0 |
| FY15 | 75.0 | 55.0 | 77.0 |
| FY16 | 91.0 | 79.0 | 121 |
| FY17 | 86.0 | 139 | 77.0 |
| FY18 | 135 | 85.0 | 55.0 |
| FY19 | 207 | 76.0 | 80.0 |
| FY20 | 224 | 100 | 103 |
| FY21 | 298 | 117 | 117 |
| FY22 | 367 | 131 | 187 |
| FY23 | 497 | 140 | 263 |
| FY24 | 275 | 138 | 144 |
| FY25 | 301 | 95.0 | 63.0 |
| FY26 | 253 | 114 | 98.0 |
The asset base keeps compounding — this company builds
The productive asset base has gone from ₹1.0 Cr (FY14) to ₹22.0 Cr, with another ₹3.0 Cr of capacity under construction right now.fixed_assetscwip
The build is bigger than the cash engine: investing outflows (₹24.0 Cr) exceeded operating cash (₹−54.0 Cr) over the last 3 years — the difference comes from debt or shareholders.investing_cash_flowoperating_cash_flow
Data: Assets in place vs under construction (annual)
| Period | Fixed assets (₹ Cr) | Under construction (CWIP) (₹ Cr) |
|---|---|---|
| FY14 | 1.0 | 0.0 |
| FY15 | 3.0 | 0.0 |
| FY16 | 3.0 | 0.0 |
| FY17 | 8.0 | 0.0 |
| FY18 | 8.0 | 0.0 |
| FY19 | 7.0 | 0.0 |
| FY20 | 6.0 | 0.0 |
| FY21 | 7.0 | 0.0 |
| FY22 | 6.0 | 0.0 |
| FY23 | 5.0 | 0.0 |
| FY24 | 10.0 | 0.0 |
| FY25 | 18.0 | 1.0 |
| FY26 | 22.0 | 3.0 |
Debt is present but comfortable
For every ₹100 shareholders have put in (and left in), the company has borrowed ₹49 — total borrowings have grown from ₹1.0 Cr to ₹54.0 Cr over the window.borrowings
Data: Total borrowings (annual)
| Period | Borrowings (₹ Cr) |
|---|---|
| FY14 | 1.0 |
| FY15 | 3.0 |
| FY16 | 4.0 |
| FY17 | 12.0 |
| FY18 | 10.0 |
| FY19 | 9.0 |
| FY20 | 8.0 |
| FY21 | 9.0 |
| FY22 | 8.0 |
| FY23 | 8.0 |
| FY24 | 6.0 |
| FY25 | 26.0 |
| FY26 | 54.0 |
Data: Debt vs shareholders’ money (annual)
| Period | Debt ÷ equity (x) |
|---|---|
| FY14 | 100 |
| FY15 | 2.0 |
| FY16 | 2.0 |
| FY17 | 4.0 |
| FY18 | 0.6 |
| FY19 | 0.8 |
| FY20 | 0.6 |
| FY21 | 0.6 |
| FY22 | 0.6 |
| FY23 | 0.6 |
| FY24 | 0.2 |
| FY25 | 0.3 |
| FY26 | 0.5 |
Every ₹100 kept in the business earns ₹37 — a high-quality engine
Return on capital employed is 37.0% (a year ago: 44.0%). This is the single best test of business quality: what the company earns on the money it keeps.roce_pct
Data: Returns on capital (annual)
| Period | ROCE (%) |
|---|---|
| FY14 | 11.0 |
| FY15 | 9.0 |
| FY16 | 19.0 |
| FY17 | 25.0 |
| FY18 | 16.0 |
| FY19 | -18.0 |
| FY20 | 14.0 |
| FY21 | 6.0 |
| FY22 | 2.0 |
| FY23 | 5.0 |
| FY24 | 22.0 |
| FY25 | 44.0 |
| FY26 | 37.0 |
Big money is quietly accumulating
Promoters hold 21.1% (up 7.2 points over 8 quarters). Foreign funds own 3.9%, domestic funds 0.1%.promoters_pctfiis_pctdiis_pct
Institutions buying while the story develops is the market’s quiet vote of confidence — they meet management, you don’t.
Data: Who holds the shares, quarterly
| Period | Promoters (%) | Foreign funds (%) | Domestic funds (%) |
|---|---|---|---|
| Apr 23 | 33.8 | 0.0 | 0.0 |
| Sep 23 | 27.6 | 0.0 | 0.0 |
| Dec 23 | 23.0 | 0.0 | 0.0 |
| Mar 24 | 23.0 | 0.0 | 0.0 |
| Jun 24 | 13.9 | 0.0 | 0.0 |
| Sep 24 | 13.9 | 0.0 | 0.0 |
| Dec 24 | 13.9 | 2.0 | 0.0 |
| Mar 25 | 17.8 | 2.1 | 0.0 |
| Jun 25 | 21.1 | 3.0 | 0.4 |
| Sep 25 | 21.1 | 3.0 | 0.4 |
| Dec 25 | 21.1 | 2.5 | 0.4 |
| Mar 26 | 21.1 | 3.9 | 0.1 |
Strong on the data — worth the deeper look if the story keeps its promises
The numbers lean positive, and the price is roughly fair to the delivery so far.
Best thing in the data: cash generation rising (₹−27.0 Cr → ₹−13.0 Cr).operating_cash_flow
Biggest worry: debt moving the wrong way (0.33× → 0.49×).borrowings
One dissent worth hearing: our technicals lens reads negative — “bearish MA stacking (Price < DMA50 < DMA200). momentum accelerating (1M: 2.2%)”. When a lens disagrees with the committee, it is usually pointing at the thing that breaks first.
Machine-written research from Screener data — every number traces to its source column. Sector Alpha is not a SEBI-registered investment adviser; nothing here is a recommendation to buy or sell. Not investment advice.
Straight answers from the data
What does R M Drip & Sprinklers Systems Ltd do?
Incorporated in 1996, R M Drip & Sprinklers Systems Ltd manufactures micro irrigation systems[1]. It is listed in the Plastics - Drip Irrigation sector with a market capitalisation of ₹852 Cr.
What is R M Drip & Sprinklers Systems Ltd's share price?
As of 1 July 2026, R M Drip & Sprinklers Systems Ltd trades at ₹19.9, down 40% over the past year, with a market capitalisation of ₹852 Cr. Trailing NIFTY 500 for 22 weeks. Prices are weekly closes from Screener data; this page refreshes with each weekly update.
What is R M Drip & Sprinklers Systems Ltd's share price target?
Sector Alpha does not publish broker-style price targets. Our discounted-cash-flow model estimates R M Drip & Sprinklers Systems Ltd's intrinsic value at ₹17.0 per share under base assumptions (bear ₹7.0, bull ₹17.0), against the current price of ₹19.9 — a 1% margin of safety. The current price already implies roughly 11% annual earnings growth. These are model estimates, not forecasts — treat them as one input alongside the valuation history below, not as a target.
What did R M Drip & Sprinklers Systems Ltd report in its latest quarterly results?
In its most recent reported quarter (Q4 FY26, quarter ended March 2026): Mar 26 sales were ₹61.1 Cr, up 27% on the same quarter last year. Mar 26 profit after tax was ₹10.0 Cr, down 3% year on year. Figures are from Screener-scraped quarterly filings; the page updates when the next quarter is filed.
Is R M Drip & Sprinklers Systems Ltd growing?
Sales jumped 27% last quarter — the 4th straight quarter of growth. Mar 26 sales were ₹61.1 Cr, up 27% on the same quarter last year.
Are R M Drip & Sprinklers Systems Ltd's profits growing?
Profit is treading water. Mar 26 profit after tax was ₹10.0 Cr, down 3% year on year.
What are R M Drip & Sprinklers Systems Ltd's operating margins?
Margins are compressing — 31% → 21% in a year. In the most recent quarter, of every ₹100 of sales, the company keeps ₹21.0 as operating profit (a year ago it kept ₹31.1).
What is R M Drip & Sprinklers Systems Ltd's long-term growth record?
Revenue grew from ₹3 Cr in FY14 to ₹197 Cr in FY26 — a 41.7% compound annual growth rate over 12 years. Profit CAGR is not meaningful across this span — the company reported losses in FY19, FY22.
Is R M Drip & Sprinklers Systems Ltd stock in an uptrend?
The price is in a downtrend — fighting it is expensive. R M Drip & Sprinklers Systems Ltd is in Stage 4 — declining, 13 weeks in (confirmed). Stages follow Stan Weinstein's four-phase read of weekly price against the 200-day average: basing (1), advancing (2), topping (3), declining (4).
Why is R M Drip & Sprinklers Systems Ltd stock falling?
The price is down 40% over the past year and the chart is in Weinstein Stage 4 (declining) — trading below its 200-day average.
Is R M Drip & Sprinklers Systems Ltd beating the NIFTY 500?
No — trailing NIFTY 500 for 22 weeks, as of 1 July 2026. Relative strength is measured weekly against the NIFTY 500 (Mansfield RS): a positive reading means the stock has outperformed the index over the trailing window, week after week.
Where is R M Drip & Sprinklers Systems Ltd in its business cycle?
The data reads R M Drip & Sprinklers Systems Ltd as a deep cyclical business currently in its expansion phase — earnings at an all-time high for this company. Profits swing violently in this business — real losses in FY19 and FY22. That is what “deep cyclical” means: the same company looks brilliant at the top of its cycle and broken at the bottom.
Who owns R M Drip & Sprinklers Systems Ltd — what is the promoter holding?
Promoters hold 21.1% (up 7.2 points over 8 quarters). Foreign funds own 3.9%, domestic funds 0.1%. Institutions buying while the story develops is the market’s quiet vote of confidence — they meet management, you don’t. Shareholding is from Screener's quarterly filings data.
Does R M Drip & Sprinklers Systems Ltd have too much debt?
Debt is present but comfortable. For every ₹100 shareholders have put in (and left in), the company has borrowed ₹49 — total borrowings have grown from ₹1.0 Cr to ₹54.0 Cr over the window.
What is the bull case for R M Drip & Sprinklers Systems Ltd?
From losses in FY19 and FY22 to record profits — the comeback is real, the price knows it. Best thing in the data: cash generation rising (₹−27.0 Cr → ₹−13.0 Cr). Sales jumped 27% last quarter — the 4th straight quarter of growth.
What is the bear case for R M Drip & Sprinklers Systems Ltd — what could break the story?
Biggest worry: debt moving the wrong way (0.33× → 0.49×). Two quarters of sales reversing would kill this story. The nearest-term thing to watch: if quarterly growth slips below 13%, the story weakens. This falsification condition is stated up front so the thesis can be checked against incoming quarters, not defended after the fact.
Is R M Drip & Sprinklers Systems Ltd a stock worth studying right now?
Sector Alpha does not publish buy or sell recommendations — this is a research read, not advice. What the data says: strong on the data — worth the deeper look if the story keeps its promises. The numbers lean positive, and the price is roughly fair to the delivery so far. Across the 7-model scorecard the composite research signal is study deeper at 62% confidence. This is machine-written research compiled from Screener data — every number traces to its source — and it is not investment advice. Do your own diligence.