1. At a Glance
RRP Semiconductor is the stock market equivalent of a reality TV contestant—no track record, plenty of drama, and somehow a cult following. From ₹25 lows to ₹3,889 highs, the share price has skyrocketed15,096% in one year. On paper, it’s a “semiconductor player” with OSAT dreams. In reality, it was a sleepy trading company that just rebranded itself with a shiny “chip” tag. With aP/E of 815, aPrice-to-Book of 313, and promoter holding of just1.28%, this company is either India’s Nvidia-in-the-making or a penny-stock bubble that could pop faster than MAGGI cooks.
2. Introduction
Let’s roll back. Till 2023, this company was calledG D Trading & Agencies Ltd. Its financials could bore an accountant to sleep. Then in 2024, it pulled a Bollywood-level makeover: new name, new business verticals, preferential allotments, promises of OSAT facilities, and fresh management. The “semiconductor wave” was too hot to ignore, so why not ride it?
Investors fell for it. From less than ₹30, the stock sprinted to nearly ₹4,000—minting overnight millionaires and giving Dalal Street its own meme-stock moment. But here’s the twist: theactual revenue for FY25 was ₹26.5 Cr, profit after tax a mere₹6.5 Cr, and the latest quarter (Q1 FY26) reportedzero revenuewithloss of ₹0.29 Cr.
So how do you reconcile 15,000% price return with 0% sales growth this quarter? Simple. Hope, hype, and a dash of herd mentality. This isn’t a semiconductor fab yet—it’s a semiconductor fantasy wrapped in SEBI filings.
3. Business Model (WTF Do They Even Do?)
The official narrative goes like this:
- Semiconductor & Digital Chips:Through group company RRP Electronics Ltd, they want to set up OSAT (Outsourced Semiconductor Assembly & Test) facilities—basically, packaging and testing chips.
- Preferential Issue (May 2024):Raised ₹16.23 Cr via 1.35 Cr shares. Proceeds + loan of ₹6.35 Cr were earmarked for OSAT plant expenses, buying equipment, redeeming preference shares, and paying off old loans.
- Diversification:Claims of venturing into electronics devices, consulting, services, and trading related to semiconductors.
Translation: they want to do everything from fabless chip design to selling consultancy. The issue? Building even a modest OSAT line
costs thousands of crores. RRP raised just ₹16 Cr—barely enough for office interiors at a “semiconductor startup.”
4. Financials Overview
| Metric | Latest Qtr (Jun ’25) | YoY Qtr (Jun ’24) | Prev Qtr (Mar ’25) | YoY % | QoQ % |
|---|---|---|---|---|---|
| Revenue | ₹0.00 Cr | ₹0.38 Cr | ₹6.00 Cr | -100% | -100% |
| EBITDA | -₹0.14 Cr | ₹0.08 Cr | ₹1.46 Cr | Loss | Loss |
| PAT | -₹0.29 Cr | ₹0.08 Cr | -₹1.59 Cr | -117% | +82% |
| EPS (₹) | -0.21 | 0.08 | -1.17 | – | – |
Commentary:This quarter, revenue disappeared entirely, PAT went red, and EPS went back to negative. Yet the stock trades like it’s Apple + TSMC + Nvidia combined.
5. Valuation (Fair Value RANGE only)
- P/E Method:EPS (TTM) ₹4.77, CMP ₹3,889 → P/E = 815. Sector avg ~36. FV = ₹170–₹250.
- EV/EBITDA:EV ₹5,308 Cr / EBITDA ₹9.37 Cr = 544x. FV = ₹100–₹200.
- DCF:With ₹6.5 Cr profit and heroic 30% growth assumptions, FV = ₹200–₹300.
Fair Value Range:₹170–₹300“This FV range is for educational purposes only and is not investment advice.”
6. What’s Cooking – News, Triggers, Drama
- OSAT Buzz:Ambition to set up India’s semiconductor backend facility. Whether this will happen or not is anyone’s guess.
- Management Shuffle:Old promoter Somani resigned, new MD Mr. Manas Palo appointed (July 2025). CFO seat also warmed by Ms. Sejal Patel.
- Preferential Issue:Money partly used for OSAT dreams, partly for loan repayment.
- Promoter Exit:Holding dropped from 74.5% to 1.28%. That’s not “skin in
