Rashi Peripherals Limited (RPTECH)
₹866.25 +1.34% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Rashi Peripherals' revenue was ₹5,102 Cr (+61.9% year on year, +13.7% on the previous quarter), and net profit ₹105 Cr (+68.7% year on year); the operating margin was 3.0%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹5,102 | +61.9% | +13.7% |
| Operating profit | ₹155 | +49.3% | +16.8% |
| Net profit | ₹105 | +68.7% | +20.2% |
| EPS (₹) | 15.59 | +67.5% | +22.0% |
| Operating margin | 3.0% | — | — |
RPTECH delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 46.12% of the RPTECH shares traded on NSE were taken to delivery, against the stock's own 20-session average of 44.05%. That is close to its usual level.
Delivery in the last 5 sessions: 38.9% · 44.1% · 51.2% · 49.9% · 46.1%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Rashi Peripherals Limited announced that one of its Joint Statutory Auditors, M/s. Deloitte Haskins & Sells LLP, has ceased holding office effective October 16, 2026. The cessation occurred as the auditor became no longer eligible under Section 141(3)(e) of the Companies Act, 2013, and applies concurrently to wholly owned subsidiary Rashi Semiconductor Solutions Private Limited. The second Joint Statutory Auditor, M/s. Pipara & Co. LLP, remains in office, and the company has begun identifying a replacement firm to fill the casual vacancy.
- Deloitte Haskins & Sells LLP ceased as Joint Statutory Auditor effective October 16, 2026
- Cessation triggered due to disqualification under Section 141(3)(e) of the Companies Act, 2013
- Concurrent cessation as Statutory Auditor of wholly owned subsidiary Rashi Semiconductor Solutions Private Limited
- M/s. Pipara & Co. LLP continues as the Joint Statutory Auditor for the remaining tenure
Rashi Peripherals Limited (RPTECH) announced the voting results and Scrutinizer's Report for its 37th Annual General Meeting held on September 09, 2026. A total of 7 resolutions were approved by shareholders with requisite majority, including the adoption of FY26 financial statements, declaration of final dividend, and re-appointment of statutory auditors. Notably, shareholders also passed special resolutions approving an enhancement in borrowing limits under Section 180(1)(c) and creation of security/charge under Section 180(1)(a). Overall voter turnout stood at 71.64% of total outstanding shares (47,576,342 votes polled).
- All 7 resolutions passed with requisite majority during the 37th AGM held on September 09, 2026
- Overall voter turnout was 71.64% with 47,576,342 votes polled out of 66,405,746 shares
- Special resolutions approved enhancement in borrowing limits under Section 180(1)(c) and creation of charge on assets under Section 180(1)(a) (99.99% votes in favour)
- Final dividend declaration for FY26 approved with 98.22% votes in favour
- Revision in remuneration terms of Managing Director Mr. Kapal Suresh Pansari approved with 99.99% votes in favour
Rashi Peripherals conducted its 37th Annual General Meeting (AGM) on September 9, 2026, through video conferencing. Key resolutions placed before shareholders include the declaration of a dividend of Rs 2 per equity share (face value Rs 5) for FY26. Shareholders also considered special resolutions to approve an enhancement in borrowing limits under Section 180(1)(c) and corresponding asset charges under Section 180(1)(a). The meeting concluded at 13:46 IST, with voting results to be disclosed post scrutiny.
- 37th Annual General Meeting held on September 9, 2026, concluding at 13:46 p.m. IST
- Proposed dividend of Rs 2 per equity share of face value Rs 5 for FY26
- Special resolutions tabled for enhancement in borrowing limits under Section 180(1)(c) and creation of charge on assets under Section 180(1)(a)
- Remote e-voting took place from September 5 to September 8, 2026, with scrutinizer appointed
CRISIL has reaffirmed its credit ratings for Rashi Peripherals Limited's bank loan facilities while reviewing an enhanced total facility quantum of ₹2,782.5 crore (up from ₹2,024 crore). The long-term rating is reaffirmed at 'Crisil AA-/Stable' and the short-term rating at 'Crisil A1+'. The ₹758.5 crore increase in rated bank facilities supports the company's expanding distribution operations and working capital requirements. The rating letter remains valid until March 31, 2027.
- Total bank loan facilities rated increased to ₹2,782.5 crore from ₹2,024 crore
- Long-term bank facilities reaffirmed at 'Crisil AA-/Stable'
- Short-term bank facilities reaffirmed at 'Crisil A1+'
- Enhanced bank limit represents an addition of ₹758.5 crore in rated credit lines
- Rating review valid till March 31, 2027
Rashi Peripherals Limited has completed the transaction under the Business Transfer Agreement (BTA) dated August 31, 2026, with Rashi Semiconductor Solutions Private Limited. The company confirmed that all conditions precedent and necessary requirements have been fulfilled. This marks the formal closure of the transaction first disclosed on August 4, 2026. Specific deal consideration and carve-out assets were not restated in this filing.
- Completed transaction under the Business Transfer Agreement dated August 31, 2026
- Agreement executed between Rashi Peripherals (Seller) and Rashi Semiconductor Solutions Private Limited (Purchaser)
- Fulfilled all conditions precedent following initial intimation on August 4, 2026
- Financial consideration and asset details not disclosed in the current filing
Independent Director Mr. Anil Khandelwal has resigned from RPTECH's Board effective August 24, 2026, citing severe corporate governance divergences. In a detailed letter, he highlighted that professional due-diligence assignments for an acquisition were granted to firms associated with two Independent Directors (including the Audit Committee Chairman) without disclosure or recusal. He also flagged concerns over process integrity within the Nomination & Remuneration Committee regarding KMP compensation and director selection.
- Resignation of Independent Director Mr. Anil Khandelwal effective August 24, 2026
- Stepped down as Chairman of Stakeholders' Relationship Committee and member of NRC and CSR committees
- Alleged undisclosed acquisition due-diligence assignments awarded to firms tied to 2 Independent Directors, including the Audit Committee Chair
- Flagged lack of independence and process integrity in NRC decisions regarding director selection and KMP compensation
Rashi Peripherals Limited has issued a physical communication to shareholders without registered email addresses, providing the web-link to the Annual Report for FY 2025-26 as per SEBI regulations. The company's 37th Annual General Meeting (AGM) is scheduled to take place on September 9, 2026, at 12:30 PM IST via Video Conferencing. The cut-off date for dispatching this communication to unregistered members was August 7, 2026. This is a routine statutory and compliance filing with no operational or financial impact.
- 37th Annual General Meeting scheduled for Wednesday, September 9, 2026, at 12:30 PM IST via VC/OAVM
- Physical intimation letter sent to shareholders with unregistered email addresses as on August 7, 2026
- Annual Report for FY 2025-26 made accessible via company web portal per Regulation 36(1)(b)
- Filing submitted to BSE and NSE on August 17, 2026
Rashi Peripherals has issued the notice for its 37th Annual General Meeting (AGM) scheduled for September 9, 2026. Key ordinary resolutions include the declaration of a final dividend of Rs 2 per equity share (FV Rs 5) for FY26 and the re-appointment of Deloitte Haskins & Sells LLP as statutory auditors for a second 5-year term. In addition, the company is seeking shareholder approval via a special resolution to increase its borrowing limit under Section 180(1)(c) from Rs 3,500 crore to Rs 5,000 crore to support business operations and working capital requirements.
- 37th AGM to be held on September 9, 2026, through Video Conferencing
- Final dividend of Rs 2 per equity share of face value Rs 5 proposed for FY26
- Special resolution to enhance borrowing limits from Rs 3,500 crore to Rs 5,000 crore
- Proposed re-appointment of Deloitte Haskins & Sells LLP as statutory auditors for a 5-year term (2026-2031)
Rashi Peripherals (RPTECH) reported a robust Q1 FY27 with consolidated revenue growing 61.9% YoY to ₹5,100 cr and PAT rising 69.5% to ₹105 cr. The company is executing a strategic pivot from pure distribution to integrated solutions, evidenced by the acquisition of VDA Infosolutions and a new 74:26 semiconductor JV with Japan's Restar Corporation. Management has set a conservative revenue target of $100 million (approx. ₹830 cr) for the semiconductor JV within three years. Operating efficiency remains strong with record annualized ROCE of 19.5% and a disciplined working capital cycle of 56 days.
- Consolidated revenue increased 61.9% YoY to ₹5,100 cr, representing ~32.5% of total TTM revenue in a single quarter
- Net profit (PAT) grew 69.5% YoY to ₹105 cr with a diluted EPS of ₹15.25
- Announced a 74% majority stake JV with Restar Corporation targeting $100 million revenue in 3 years
- Annualized ROCE and ROE reached record levels of 19.5% and 19.8% respectively
- Working capital cycle maintained at 56 days despite significant scale-up in operations
Rashi Peripherals Limited has uploaded the audio recording of its earnings call held on August 5, 2026, following the release of its unaudited financial results for the quarter ended June 30, 2026. The company, which reported a TTM revenue of ‡15,691 Cr and a PAT of ‡283 Cr for FY26, uses these calls to discuss its 15% expected growth rate and expansion into new brands like Samsung and LG. This filing is a standard regulatory requirement under SEBI LODR Regulations to ensure equitable access to management commentary.
- Earnings call conducted on August 5, 2026, at 10:00 a.m. IST
- Discussion focused on unaudited financial results for the quarter ended June 30, 2026
- Company maintains a TTM revenue base of ‡15,691 Cr with a thin OPM of 2.93%
- Top five principals contribute 70% to 75% of total sales, a key discussion point for risk management
Rashi Peripherals (RPTECH) delivered a strong start to FY27, reporting Q1 revenue of ₹4,832.2 Cr, a 58.3% increase over the previous year. Profitability showed improvement with PAT reaching ₹104.6 Cr and PAT margins expanding to 2.05% from the FY26 average of 1.78%. The company is strategically pivoting towards higher-margin enterprise services through an investment in VDA Infosolutions and a new AI infrastructure partnership with WEKA.io. Despite the growth, the business remains a high-volume, low-margin operation with an EBITDA margin of 3.04%.
- Revenue from operations grew 58.3% YoY to ₹4,832.2 Cr in Q1-FY27
- EBITDA margin improved to 3.04% in Q1-FY27 compared to 2.90% for the full year FY26
- Personal Computing & Enterprise Solutions (PES) segment contributed ₹3,384.7 Cr to quarterly revenue
- Lifestyle and IT Essentials (LIT) segment revenue stood at ₹1,717.2 Cr for the quarter
- Expanded physical footprint to 57 branches and 706 locations across India
Rashi Peripherals (RPTECH) delivered a robust Q1 FY27, with revenue surging 61.9% YoY to ₹5,101.9 crore, representing approximately 32.5% of its total FY26 revenue in a single quarter. Net profit grew 69.5% YoY to ₹104.6 crore, driven by strong demand for ICT products and strategic expansion. The company also announced a 67% stake acquisition in VDA Infosolutions to pivot toward high-value enterprise technology and digital infrastructure. While growth was high, EBITDA margins saw a slight contraction of 24 bps to 3.04%.
- Revenue reached an all-time high of ₹5,101.9 crore, a 61.9% increase compared to the same quarter last year.
- Net Profit surged 69.5% YoY to ₹104.6 crore, with Diluted EPS rising to ₹15.25 from ₹9.30.
- Announced the acquisition of a 67% stake in VDA Infosolutions to enhance enterprise technology capabilities.
- Partnered with WEKA to expand into AI, machine learning, and high-performance computing (HPC) workloads.
- Expanded physical distribution network by opening 2 new branches in Udaipur and Dhule.
Rashi Peripherals delivered its highest-ever quarterly performance in Q1 FY27, with revenue surging 61.9% YoY to ₹5,101.9 Cr. Net profit grew 69.5% YoY to ₹104.6 Cr, a significant jump compared to the ₹87 Cr reported in the preceding March 2026 quarter. While EBITDA margins saw a slight compression of 24 bps to 3.04%, the company announced a strategic 67% stake acquisition in VDA Infosolutions to pivot toward high-value enterprise technology. The quarter also marked a new partnership with WEKA to address AI and high-performance computing markets.
- Revenue reached a record ₹5,101.9 Cr, representing a 61.9% YoY growth.
- Net Profit increased 69.5% YoY to ₹104.6 Cr, contributing ~37% of the previous TTM PAT in one quarter.
- Announced acquisition of a 67% stake in VDA Infosolutions to expand digital infrastructure capabilities.
- EBITDA grew 50% YoY to ₹155.3 Cr, despite a marginal dip in EBITDA margin to 3.04%.
- Expanded physical footprint by opening two new branches in Udaipur and Dhule.
Rashi Peripherals (RPTECH) has approved a strategic reorganization to transfer its Embedded Business to a new wholly-owned subsidiary, Rashi Semiconductor Solutions Private Limited, via a slump sale. Simultaneously, the company is forming a strategic joint venture with Japan-based Restar Corporation to scale this specialized business segment. The board also approved the unaudited financial results for the quarter ended June 30, 2026. This move signals a focused push into the semiconductor solutions market with a global partner.
- Transfer of Embedded Business to Rashi Semiconductor Solutions Private Limited on a slump sale basis.
- Formation of a strategic Joint Venture with Restar Corporation, Japan, for the embedded business.
- Approval of unaudited standalone and consolidated financial results for the quarter ended June 30, 2026.
- Reorganization includes transfers from both the Indian parent and the Singapore subsidiary to dedicated entities.
- Board meeting held on August 4, 2026, to finalize these strategic decisions.
Rashi Peripherals has finalized August 14, 2026, as the record date for its recommended final dividend of ₹2 per equity share for FY26. This dividend, originally proposed by the board on May 14, 2026, is subject to shareholder approval at the upcoming Annual General Meeting (AGM). At the current market price of ₹870.9, the dividend yield is approximately 0.23%. The company reported a strong TTM PAT of ₹283 Cr, making this a conservative payout representing roughly 4.7% of its TTM EPS.
- Final dividend of ₹2 per equity share of face value ₹5 recommended for FY26.
- Record date for determining shareholder eligibility fixed as Friday, August 14, 2026.
- Dividend payment to be dispatched within 30 days from the date of the Annual General Meeting.
- The payout follows a fiscal year where revenue reached ₹15,691 Cr with a 2.9% operating margin.
Financial Performance
Revenue Growth by Segment
The core business is expected to grow at 15% YoY. Personal-computing devices, peripherals, and components are the dominant segments, contributing 85% to 90% of total sales. Total operating income reached INR 13,833.37 Cr in FY25, representing a 28.9% growth compared to INR 10,731 Cr in FY24.
Geographic Revenue Split
The company operates primarily in India with a significant international presence through its Singapore-based subsidiary, Rashi Peripherals Pte. Ltd (RPTE). While specific percentage splits per region are not disclosed, the Singapore entity is a key distributor of ICT products for the group.
Profitability Margins
Operating margins have historically ranged between 2.6% and 2.7%. In FY24, the operating margin was 2.64%, which slightly dipped to 2.37% in H1FY25. The company targets a long-term PAT margin of 1.5%, having delivered 1.24% (INR 133 Cr) in FY24 and 1.33% (INR 123.07 Cr) in FY23.
EBITDA Margin
Operating profitability improved to 3.5% in Q1FY26. The company expects to sustain operating margins between 2.8% and 2.9% over the medium term by optimizing operational efficiencies and managing product mix.
Capital Expenditure
The company has no major debt-funded capital expenditure or acquisitions planned over the medium term. It maintains a nil term debt obligation, with cash accruals expected to exceed INR 200 Cr per annum to cushion liquidity.
Credit Rating & Borrowing
CRISIL Ratings maintains a Stable/Positive outlook. Finance costs were reduced by 27.6% to INR 77.54 Cr in FY25 from INR 107.14 Cr in FY24. Interest coverage was healthy at 2.65 times in FY24 and improved to 5.92 times by September 2024.
Operational Drivers
Raw Materials
As a distributor, the 'raw materials' are finished ICT products including personal computers, notebooks, mobile phones, wearables, IT consumables, storage products, and networking gear.
Import Sources
Products are sourced globally from principals, with the Singapore subsidiary (RPTE) acting as a key hub for international procurement and distribution.
Key Suppliers
The company is highly dependent on five major principals: Lenovo, Asus, Hewlett-Packard (HP), SanDisk, and Western Digital.
Capacity Expansion
Not applicable as the company follows a distribution and service-led model rather than a manufacturing model.
Raw Material Costs
Cost of goods sold is the primary expense. Inventory levels increased by INR 175.11 Cr in FY25 to support the 28.9% revenue growth.
Manufacturing Efficiency
Efficiency is driven by working capital management; bank limit utilization was moderate at 63.46% for the 12 months through July 2025.
Logistics & Distribution
Distribution is managed through a diversified geographical footprint; costs are controlled through resource optimization and bulk purchase discounts from vendors.
Strategic Growth
Expected Growth Rate
15%
Growth Strategy
Growth is targeted through adding new vendors (recently Samsung and LG), expanding the product basket into wearables and mobile phones, and bidding for large-scale projects like the Yotta deal. The company is also developing a software services division, currently in the startup phase.
Products & Services
Laptops, desktops, smartphones, wearables, printers, networking products, storage devices, UPS, and inverters.
Brand Portfolio
Lenovo, Asus, HP, SanDisk, Western Digital, Samsung, and LG.
New Products/Services
Recent addition of Samsung and LG brands; revenue from these new brands is on an increasing trend. A new software division is currently at the design board stage.
Market Expansion
Expansion is focused on deepening the domestic IT hardware distribution footprint and leveraging the Singapore subsidiary for broader ICT product reach.
Market Share & Ranking
Established market position in the Indian IT hardware distribution business, which is characterized as oligopolistic.
Strategic Alliances
Maintains long-standing distributorship and after-sales service relationships with global IT principals.
External Factors
Industry Trends
The IT distribution industry is growing due to healthy demand for technology products, though it remains a low-margin, high-volume business with intense competition.
Competitive Landscape
Faces stiff competition from larger established players and newer, less-established brands that provide price competition.
Competitive Moat
Moat is sustained by long-term relationships with top-tier global brands and a robust risk management framework (price protection and forex hedging) that is difficult for smaller players to replicate.
Macro Economic Sensitivity
Sensitive to global IT spending cycles and demand for personal computing hardware.
Consumer Behavior
Increasing consumer demand for mobile phones, wearables, and updated personal computing devices drives volume growth.
Geopolitical Risks
Susceptible to global supply chain disruptions and trade policies affecting the import of ICT components from international principals.
Regulatory & Governance
Industry Regulations
Complies with the Companies Act, 2013 and standard internal financial controls; auditors confirmed effective operation of controls as of March 31, 2025.
Taxation Policy Impact
The company paid net income taxes of INR 36.80 Cr in FY25, compared to INR 49.67 Cr in FY24.
Risk Analysis
Key Uncertainties
The primary uncertainty is the performance and market share of the top 5 principals, which account for over 70% of sales. A decline in their market position would directly impact the company.
Geographic Concentration Risk
Heavy concentration in the Indian market, though partially diversified through the Singapore subsidiary.
Third Party Dependencies
70% to 75% of revenue is dependent on five suppliers: Lenovo, Asus, HP, SanDisk, and Western Digital.
Technology Obsolescence Risk
High risk due to the rapid pace of change in IT hardware; mitigated by the continuous addition of new vendors and product categories.
Credit & Counterparty Risk
Managed through stringent credit assessment and provisioning policies, including selling against post-dated cheques to minimize bad debt risks.
