1. At a Glance
From a₹25 stock in 2024to₹3,889 in August 2025, RRP Semiconductor Ltd has pulled off the sort of market magic that makes penny stock promoters drool and regulators reach for their pens. Withno sales last quarter, aP/E ratio of 815, and a promoter holding that’s thinner than a wafer chip, this “semiconductor” story has more drama than a tech startup documentary.
2. Introduction
Once upon a time, this wasG D Trading & Agencies Ltd— a humble, loss-making entity dabbling in odds and ends.Then cameMay 2024, a preferential allotment, a shiny new name, and a bold pivot into the high-stakes world ofsemiconductor manufacturingvia its group company, RRP Electronics.
Investors loved it. Loved it so much, in fact, that the stock didn’t just rise — it strapped on a NASA-grade booster rocket. In one year:
- Price gain: 15,096% (not a typo)
- Promoters: From controlling 74.5% of the company to just 1.28% today
- Quarterly Sales (Q1 FY26): ₹0.00 crore
- Quarterly Profit: –₹0.29 crore
If you think that combo makes no sense, you’re right. But in India’s small-cap wonderland, this is called “narrative investing”.
3. Business Model (WTF Do They Even Do?)
Officially, RRP Semiconductor is inElectronics, Information, and Technology, “dealing in semiconductor & digital chips”. The game plan:
- Set up OSAT (Outsourced Semiconductor Assembly and Test) facilities.
- Manufacture, process, and market advanced digital chips.
- Invest in tech, HR, fixed assets, and new projects (including taking over other companies in the same space).
Unofficially, they’ve yet to show any consistent production or sales that justify the valuation. Instead, the pivot seems to be aboutstorytelling + capital raising + strategic investmentsin group companies.
Think of it like a movie trailer that promises an Avengers-level spectacle but only has the opening credits so far.
4. Financials Overview
| Metric | Latest Qtr (Jun’25) | YoY Qtr (Jun’24) | Prev Qtr (Mar’25) | YoY % | QoQ % |
|---|---|---|---|---|---|
| Revenue | 0.00 | 5.11 | 6.00 | -100.0% | -100.0% |
| EBITDA | -0.14 | 1.82 | 1.46 | -107.7% | -109.6% |
| PAT | -0.29 | 1.68 | -1.59 | -117.3% | +81.8% |
| EPS (₹) | -0.21 | 1.23 | -1.17 | -117.1% | +82.1% |
Commentary:Imagine a restaurant that sold nothing last quarter but still got a Michelin star because itplansto serve food next year. That’s basically the story here.
5. Valuation (Fair Value RANGE only)
P/E Method:EPS (TTM) = ₹4.77Industry P/E (Semiconductors / Tech Mix) = ~36.2Fair Value (P/E-based) = ₹172 – ₹250
EV/EBITDA Method:EV = ₹5,308 CrEBITDA (TTM) = ₹9.75 CrEV/EBITDA Industry Avg = ~20–25Fair Value (EV/EBITDA-based) = ₹195 – ₹245
DCF Method:Given zero current operations last quarter, projections are purely theoretical. Assuming ₹30 Cr steady revenue from FY27 with 20% margins → ₹180–₹230
Fair Value Range (Educational, Not Advice):₹172 – ₹250Disclaimer: This FV range is for educational purposes only and is not investment advice.
6. What’s Cooking – News, Triggers, Drama
- Preferential Issuein May 2024 raised ₹16.23 Cr + loans for OSAT facilities in group company RRP Electronics.
- Name change & business pivot in May–June 2024
