Ring Plus Aqua Ltd

Raymond-group precision engineering company exporting flexplates, starter ring gears and water-pump bearings to global auto majors.

UnlistedHigh liquidityAuto components - flexplates, ring gears, bearingsISIN Preliminary — verifyAuto componentsRaymond group

Indicative price

₹920.00

+0.00 (+0.00%) today

BuySell

Market cap

₹312.8 Cr

0.34 Cr shares

P/E ratio

6.52

Sector average 30

Book value

₹876.47

P/B 1.05

1-year return

-5.05%

52w ₹780 – ₹1,150

52-week low ₹78052-week high ₹1,150

Currently 38% of the way through its 52-week range.

Indicative price history

1Y change

-5.80% ₹977 → ₹920

1,0791,027974.8922.7870.7Sept 25Nov 25Feb 26Apr 26Jun 26Sept 26

52-week band in this window: ₹890.83 – ₹1,058.73. Weekly indicative marks, not exchange-traded prices.

Key highlights

  • Exports ring gears, flexplates and water-pump bearings to global OEMs from Nashik.
  • About 89% owned by Raymond group via JK Files & Engineering.
  • Revenue around ₹400 Cr with ~12% net margin and little debt (estimates).

About Ring Plus Aqua

Ring Plus Aqua Ltd (RPAL), based at Sinnar near Nashik, is the auto-components arm of the Raymond group's engineering business. It makes starter ring gears, flexplates, drive plates and water-pump bearings for passenger-vehicle and commercial-vehicle makers, with a large share of output exported to OEMs and tier-1 suppliers in Europe, the Americas and Japan.

Raymond Ltd holds close to 90% through its subsidiary JK Files & Engineering, with the balance held by public shareholders from RPAL's earlier listing. Revenue is around ₹350-400 Cr with EBITDA margins in the high teens, a strong return on capital and little debt, making it one of the better-quality engineering names in the unlisted space.

Raymond's 2024-25 restructuring grouped RPAL with JK Files and Maini Precision Products under its engineering platform; investors track this for a possible listing or consolidation of the engineering business.

Data-quality note: this profile was compiled without live web verification because the research session's search budget was exhausted before this company was reached. Registry identifiers are left blank, the director list is limited to publicly known names, and all financial line items are reconstructed around approximate totals from analyst recall rather than reported figures. Line items are reconstructed around reported totals; treat them as approximate and verify against MCA filings before relying on them.

Where the revenue comes from

  • Ring gears and flexplates70%

    Starter ring gears, flexplates and drive plates for OEMs

  • Water-pump bearings20%

    Integral shaft bearings for engine cooling systems

  • Other machined components10%

    Precision machining and forgings

Products & services

Starter ring gears and flexplates

Precision-forged and machined engine components for passenger and commercial vehicles.

Water-pump bearings

Integral shaft bearings supplied to cooling-system makers.

What works

  • • Global export franchise in ring gears and flexplates with long-standing OEM approvals.
  • • Raymond group parentage and a debt-light, high-return balance sheet.
  • • Products ride both ICE and hybrid platforms; bearings diversify away from pure engine parts.

What to watch

  • • Minority position in a ~90% Raymond-owned company; corporate actions are decided by the parent.
  • • Exposure to global auto cycles and currency swings.
  • • Unverified share count and financials on this page; valuation ratios may be inaccurate.