Rama Phosphates Limited (RPL) was incorporated on September 4, 1984, as a profit-making entity belonging to the Ramsinghani Group. The company operates in the Fertilizer, Sulphuric Acid, Micro Nutrients, and Soya Oil Manufacturing sectors, with production units strategically located in Indore (MP), Udaipur (Rajasthan), Nimbahera (Rajasthan), and Pune (Maharashtra). RPL is listed on both NSE and BSE, trading under the symbol RAMAPHO on NSE and BSE code 524037.
Rama Phosphates operates as a diversified chemical and fertilizer manufacturing company with a strong focus on agricultural inputs and industrial chemicals. It has established itself as a significant player in the agricultural chemicals sector, catering to India's growing demand for fertilizers and crop nutrients.
The company operates through three main business divisions:
- Fertilizer Division: This is the core of Rama Phosphates' operations, manufacturing 66,000 tpa of Single Super Phosphate (SSP) fertilizers and 33,000 tpa of Sulphuric Acid. The product profile includes Fortified Fertilizers (Zinacated & Boronated Single Super Phosphate in Powder and Granule form), Mixed Fertilizers (NPK of various grades), Water Soluble Complex Fertilizers, Micronutrients (Magnesium Sulphate), Insecticides, and Soil Conditioners. Fertilizers are sold under the brands Girnar and Suryaphool.
- Chemicals Division: Produces Sulphuric Acid 98%, Oleum 23%, and Linear Alkyl Benzene Sulphonic Acid (Labsa). This division is based in Indore and Pune.
- Oil Division: Engaged in the extraction of Soya Bean Crude Oil, Soya De-Oiled Cake, Soya Refined Edible Oil, and Lecithin. This vertical integration allows the company to leverage synergies across different agricultural value chains.
The market capitalization of Rama Phosphates Ltd (RAMAPHO) was ₹414.52 Cr as of April 17, 2025. The company has demonstrated mixed but improving financial performance in recent quarters.
- Q3 FY2024-25 (December 2024): Reported a Net Profit of ₹3.66 crore, a significant improvement from a net loss of ₹29.74 crore in the previous year's quarter (December 2023). Sales rose by 54.62% to ₹179.62 crore from ₹116.17 crore in the same period last year.
- Q2 FY2024-25 (September 2024): Net profit increased by 359.70% to ₹3.08 crore compared to ₹0.67 crore in the prior year's quarter. Sales rose by 22.17% to ₹209.46 crore from ₹171.45 crore.
Key Financial Metrics (as of recent dates):
- Annual Revenue: ₹729 Cr (FY2024)
- Annual Profit: ₹11.2 Cr (FY2024)
- P/E Ratio: -13.34 (indicating current losses or negative earnings)
- P/B Ratio: 1.17
- 52-Week High: ₹124.50
- 52-Week Low: ₹72.28
The stock has demonstrated significant volatility, characteristic of the cyclical fertilizer and chemicals industry. Over the past five years, the company has recorded a sales growth of -0.12%. The trading range between the 52-week high and low indicates the stock's sensitivity to market conditions and sector-specific developments.
- Promoter Holding: Increased to 75.00% as of September 2024, maintaining its level from December 2023, indicating strong management commitment.
- Promoter Pledging: Stands at 13.33% as of December 2024.
- Key Management: H D Ramsinghani is the Chairman, and Bhavna Dave is the Company Secretary.
- Corporate Actions: The Board approved a sub-division of equity shares on November 13, 2024, from face value of ₹10 each to ₹5 each.
Rama Phosphates Ltd (RAMAPHO) belongs to the Materials sector and the Fertilizers & Agro Chemicals sub-sector. The company operates in a highly regulated and competitive market where government policies, subsidy structures, and agricultural trends significantly impact business performance.
Key Competitors/Peers: Nova Agritech, Nagarjuna Fert., Aries Agro, Basant Agro Tech, Teesta Agro Ind., Phosphate Co.
The agricultural chemicals industry in India continues to benefit from government initiatives aimed at improving crop productivity and food security. Rama Phosphates, with its diversified product portfolio and established manufacturing capabilities, is well-positioned to participate in this growth while managing the inherent cyclicality of the business.
