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Ratnamani Metals & Tubes Limited RATNAMANI NSEINFRA

Basic Materials · Steel · India
https://www.ratnamani.com

Ratnamani Metals & Tubes Limited manufactures and sells stainless steel pipes and tubes, and carbon steel pipes in India and internationally. The company's stainless-steel products include seamless heat exchanger tubes, boiler tubes, instrumentation tubes, seamless pipes, heater pipes, seamless integral low-finned tubes, hollow bars, and coil tubes; and welded tubes and pipes, such as titanium welded tubes, seam-welded integral low, finned tubes, coil tubes, square and rectangular pipes, stainless steel 3lpe / pp /, and aro coated pipes. It also provides nickel alloy seamless heat exchanger and instrumentation tubes, and nickel alloy seamless pipes; titanium welded tubes; induction bending; and carbon steel products, such as high frequency electric resistance and submerged arc welded pipes. In addition, the company offers pipe coating solutions comprising external three-layer polyethylene/polypropylene coating and single/dual-layer fusion bonded epoxy coating; and internal coating solutions, such as internal liquid epoxy and cement mortar lining coatings. Further, it is involved in the generation of power from windmills. The company offers its products for various industries and applications, such as oil and gas exploration, LNG, food and dairy, fertilizer plants, thermal, solar and nuclear plants, defence, automobile, chemical, power plants, CNG, sugar, pulp and paper, petrochemicals and refineries, atomic energy, aerospace, desalination plants, pharmaceutical, marine, cross-country pipeline for gas and water, pipes for engineering purpose, booster compressors and dispensers, water distribution pipelines, plumbing and heating, city gas distribution, structural pipe systems, sewerage, dredging pipes, mining pipes, air duct pipes, high mast pipes for windmill towers, and general purpose applications. The company was incorporated in 1983 and is headquartered in Ahmedabad, India.

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₹2,552.70
-10.12% 1Y

Market & Price

Market Cap
₹17,892.38 Cr
Current Price
₹2,552.70
High / Low (52W)
₹3,046.20 / ₹1,946.40
Beta
0.34

Valuation

Stock P/E
37.04
Industry PE
23.81
Forward P/E
26.21
PEG Ratio
-
Book Value
₹586.82
Price to Book
4.35
P/S
3.98
EV/EBITDA
23.20
Dividend Yield
0.39%

Profitability & Returns

ROCE
16.32%
ROE
13.58%
ROA
7.60%
Profit Margin
10.74%
Op Margin
10.96%
EPS (Latest Qtr)
₹14.92
EPS (TTM)
₹68.92

Balance Sheet & Liquidity

Debt/Equity
0.07
Quick Ratio
1.99
Current Ratio
3.92
Debt
₹315.08 Cr
Total Assets
₹5,387.60 Cr
Current Assets
₹3,406.38 Cr
Working Capital
₹2,537.51 Cr

Ownership

Promoter Holding
67.24%
Chg in Prom Hold
-
FII / Inst Holding
25.93%
Chg in FII Hold
-

Financial Snapshot

Enterprise Value
₹17,575.39 Cr
Total Revenue (TTM)
₹4,493.96 Cr
EBITDA
₹757.73 Cr
Free Cash Flow
₹66.17 Cr
Operating Cash Flow
₹936.01 Cr
Shares Outstanding
₹7.01 Cr
Gross Margin
40.36%
Payout Ratio
20.35%

Growth (CAGR)

Revenue 5Y
0.24%
Profit 5Y
-1.86%
Revenue (YoY)
-36.80%
Earnings (YoY)
-48.50%

PROS

  • Generates positive free cash flow.
  • In a confirmed uptrend (50-DMA above 200-DMA).

CONS

  • Earnings shrank at -1.9% CAGR over 5 years.

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Basic Materials).

#NameCMP ₹P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 RATNAMANI Ratnamani Metals & Tubes Limited NSEINFRA 2,552.70 37.04 ₹17,892.38 Cr 0.39% 16.32% 13.58% 0.24% -1.86%
2 ULTRACEMCO UltraTech Cement Limited NIFTY50NSEINFRA 11,482.00 41.32 ₹3.38 L Cr 0.67% 11.90% 10.59% 12.40% 17.26%
3 JSWSTEEL JSW Steel Limited NIFTY50NSEAIINFRA 1,278.00 14.01 ₹3.12 L Cr 0.56% 19.15% 27.26% 3.61% 75.28%
4 HINDZINC Hindustan Zinc Limited NSEINFRA 632.95 19.34 ₹2.67 L Cr 3.32% 62.35% 76.94% 5.61% 9.58%
5 TATASTEEL Tata Steel Limited NIFTY50NSEAIINFRA 208.02 28.34 ₹2.59 L Cr 1.92% 11.32% 11.16% -1.59% 7.21%
6 HINDALCO Hindalco Industries Limited NIFTY50NSEAIINFRA 1,126.70 18.73 ₹2.52 L Cr 0.44% 9.50% 10.29% 7.40% 9.87%
7 GRASIM Grasim Industries Limited NIFTY50NSEINFRA 3,122.40 42.74 ₹2.12 L Cr 0.32% 4.00% 6.29% 14.63% -10.06%
8 SOLARINDS Solar Industries India Limited NSEINFRA 18,247.00 98.04 ₹1.65 L Cr 0.06% 29.51% 31.33% 13.27% 30.36%
9 PIDILITIND Pidilite Industries Limited NSEINFRA 1,482.80 61.73 ₹1.51 L Cr 0.67% 28.48% 23.52% 7.50% 24.36%
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Quarterly Results

Figures in INR.

Metric Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue 1,715.15 Cr1,151.62 Cr1,191.69 Cr1,065.83 Cr1,084.82 Cr
Cost of Revenue 1,120.14 Cr706.62 Cr727.04 Cr604.22 Cr642.33 Cr
Gross Profit 595.00 Cr445.00 Cr464.65 Cr461.61 Cr442.49 Cr
Operating Expenses 321.51 Cr288.51 Cr285.44 Cr290.11 Cr323.55 Cr
Operating Income 273.49 Cr156.48 Cr179.21 Cr171.50 Cr118.94 Cr
EBITDA 311.24 Cr218.44 Cr238.15 Cr217.68 Cr195.02 Cr
Interest Expense 6.67 Cr10.99 Cr6.67 Cr7.38 Cr6.29 Cr
Pretax Income 275.94 Cr175.78 Cr199.44 Cr177.08 Cr154.03 Cr
Tax Provision 72.78 Cr48.65 Cr43.40 Cr41.70 Cr38.13 Cr
Net Income 207.13 Cr131.82 Cr136.22 Cr109.85 Cr104.65 Cr
Diluted EPS 28.9818.8019.4315.6614.92

Profit & Loss (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue -4,461.16 Cr5,027.51 Cr5,186.47 Cr4,493.96 Cr
Cost of Revenue -3,056.97 Cr3,451.95 Cr3,372.04 Cr2,680.22 Cr
Gross Profit -1,404.19 Cr1,575.56 Cr1,814.43 Cr1,813.75 Cr
Operating Expenses -711.79 Cr775.73 Cr1,098.63 Cr1,187.62 Cr
Operating Income -692.40 Cr799.83 Cr715.80 Cr626.13 Cr
EBITDA -798.21 Cr955.89 Cr883.14 Cr869.28 Cr
Interest Expense -21.33 Cr30.68 Cr37.43 Cr31.34 Cr
Pretax Income -693.54 Cr827.67 Cr737.99 Cr706.34 Cr
Tax Provision -181.26 Cr202.57 Cr196.42 Cr171.87 Cr
Net Income -510.48 Cr622.79 Cr543.98 Cr482.55 Cr
Diluted EPS -72.8388.8577.2568.81

Compounded Sales Growth

5 Years:0.24%
1 Year:-36.80%

Compounded Profit Growth

5 Years:-1.86%
1 Year:-48.50%

Stock Price Performance

1 Year:-10.12%
6 Months:+11.00%
3 Months:+1.91%
1 Month:-4.62%

Balance Sheet (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets -3,780.28 Cr4,019.83 Cr4,905.97 Cr5,387.60 Cr
Current Assets -2,532.97 Cr2,665.68 Cr3,302.96 Cr3,406.38 Cr
Cash & Equivalents -26.50 Cr202.60 Cr223.70 Cr73.90 Cr
Inventory -1,259.17 Cr1,348.70 Cr1,506.00 Cr1,274.86 Cr
Receivables -1,009.22 Cr941.45 Cr1,265.10 Cr1,013.38 Cr
Total Liabilities -1,104.31 Cr803.63 Cr1,241.34 Cr1,179.89 Cr
Current Liabilities -860.76 Cr600.04 Cr997.18 Cr868.86 Cr
Long Term Debt -57.24 Cr21.06 Cr64.88 Cr163.14 Cr
Total Debt -237.00 Cr152.87 Cr157.40 Cr317.63 Cr
Total Equity -2,603.90 Cr3,140.53 Cr3,637.04 Cr4,110.63 Cr
Shares Outstanding -7.01 Cr7.01 Cr7.01 Cr7.01 Cr

Cash Flows (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow -310.47 Cr511.23 Cr536.22 Cr936.01 Cr
Investing Cash Flow --207.67 Cr-145.26 Cr-397.12 Cr-1,147.64 Cr
Financing Cash Flow --116.08 Cr-192.95 Cr-130.18 Cr59.22 Cr
Capital Expenditure --141.89 Cr-213.04 Cr-329.08 Cr-485.25 Cr
Free Cash Flow -168.59 Cr298.19 Cr207.14 Cr450.75 Cr
Net Change in Cash --13.28 Cr173.02 Cr8.92 Cr-152.41 Cr

Ratios (Annual)

Figures in %.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Gross Margin % -31.5%31.3%35.0%40.4%
Operating Margin % -15.5%15.9%13.8%13.9%
Net Margin % -11.4%12.4%10.5%10.7%
ROE % -19.6%19.8%15.0%11.7%
ROCE % -23.7%23.4%18.3%13.9%

Shareholding Pattern

Insiders
67.24%
Institutions
25.93%
Public Float
79.14%

Analyst View

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