Rama Steel Tubes Ltd

₹ 4.25 -1.85%

01 Sep - close price

ramasteel.com BSE: 539309 NSE: RAMASTEEL

About

Incorporated in 1974, Rama steel tubes is one of the leading manufacturers of Steel Pipes & Tubes, Rigid PVC & G.I. Pipes and square section products in India. ^[1]

Key Points

Product Portfolio
The company's product range includes MS ERW black pipes from 15mm to 800 mm diameter pipes and G.I. Pipes from 15mm to 150 mm NB in light, medium, and heavy sizes, Hollow Sections, Structural Steels, Scaffolding, Electricity Poles, Casing Swaged Poles, and other Structural Steel Products. ^[1] ^[2]

Website BSE NSE - BE

Market Cap ₹ 695 Cr.
Current Price ₹ 4.25
High / Low ₹ 11.6 / 3.43
Stock P/E 53.7
Book Value ₹ 2.92
Dividend Yield 0.00 %
ROCE 5.57 %
ROE 2.99 %
Face Value ₹ 1.00

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Pros

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Promoter holding has decreased over last quarter: -1.71%
Promoter holding is low: 34.2%
Company has a low return on equity of 5.44% over last 3 years.
Earnings include an other income of Rs.9.70 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Industrials Capital Goods Industrial Products Iron & Steel Products

Part of BSE Industrials BSE 1000

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	312.52	203.33	262.39	268.27	216.64	263.05	275.17	293.20	268.13	320.45	289.38	246.15	223.34
	296.38	191.18	245.16	254.81	205.23	262.47	270.20	281.14	266.56	315.54	283.14	241.87	217.25
Operating Profit	16.14	12.15	17.23	13.46	11.41	0.58	4.97	12.06	1.57	4.91	6.24	4.28	6.09
OPM %	5.16%	5.98%	6.57%	5.02%	5.27%	0.22%	1.81%	4.11%	0.59%	1.53%	2.16%	1.74%	2.73%
	2.04	1.13	1.78	0.51	0.96	9.40	5.43	1.59	10.07	2.10	2.34	4.22	1.04
Interest	7.19	3.94	7.27	2.84	3.23	2.66	2.87	2.91	2.98	3.23	2.87	3.39	1.70
Depreciation	1.42	1.33	1.45	1.45	1.73	1.40	1.37	1.37	1.47	1.40	1.48	1.46	1.63
Profit before tax	9.57	8.01	10.29	9.68	7.41	5.92	6.16	9.37	7.19	2.38	4.23	3.65	3.80
Tax %	22.05%	17.98%	13.31%	21.07%	16.33%	27.03%	9.90%	28.71%	31.15%	57.98%	57.92%	-3.84%	-43.16%
	7.46	6.58	8.92	7.65	6.20	4.31	5.55	6.67	4.95	1.00	1.78	3.79	5.44
EPS in Rs	0.05	0.04	0.06	0.05	0.04	0.03	0.04	0.04	0.03	0.01	0.01	0.03	0.03
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	192	242	260	377	504	353	470	768	1,337	1,047	1,048	1,124	1,079
	187	227	240	354	488	344	452	726	1,285	987	1,019	1,107	1,058
Operating Profit	6	15	20	22	16	9	18	42	51	59	29	17	22
OPM %	3.0%	6%	8%	6%	3.3%	2.5%	3.9%	5%	3.9%	6%	2.8%	1.5%	2.0%
	3	3	4	5	5	6	8	9	8	5	17	19	10
Interest	5	6	8	6	9	10	8	11	20	21	12	12	11
Depreciation	2	3	3	2	3	3	3	4	5	6	6	6	6
Profit before tax	1	9	13	18	9	2	15	36	35	38	29	17	14
Tax %	22%	30%	28%	31%	11%	80%	16%	24%	22%	20%	21%	37%
	1	6	9	13	8	0	12	27	27	30	23	11	12
EPS in Rs	0.01	0.05	0.08	0.10	0.07	0.00	0.10	0.22	0.19	0.19	0.15	0.08	0.08
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	3%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	17%
5 Years:	19%
3 Years:	-6%
TTM:	-2%

Compounded Profit Growth
10 Years:	8%
5 Years:	0%
3 Years:	-22%
TTM:	-40%

Stock Price CAGR
10 Years:	11%
5 Years:	6%
3 Years:	-31%
1 Year:	-60%

Return on Equity
10 Years:	9%
5 Years:	8%
3 Years:	5%
Last Year:	3%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	1	7	8	8	8	8	8	8	47	154	155	164
Reserves	18	18	44	70	79	79	92	118	204	181	209	314
	56	58	57	63	90	83	85	138	193	145	89	130
	21	23	26	11	24	67	62	94	252	254	305	283
Total Liabilities	96	107	135	153	200	238	248	358	695	734	758	890
	12	17	26	42	41	41	51	57	106	110	103	109
CWIP	6	1	1	0	1	7	4	6	1	1	10	4
Investments	13	12	2	2	5	7	8	8	13	6	5	11
	65	77	106	109	154	183	184	288	574	617	640	767
Total Assets	96	107	135	153	200	238	248	358	695	734	758	890

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	3	5	-7	5	-17	30	25	-35	-96	18	51	-109
	-7	-2	-1	-9	-3	-7	-10	-9	-53	-1	3	-9
	9	-5	10	6	17	-17	-6	41	143	-13	-66	118
Net Cash Flow	5	-1	1	2	-3	6	9	-3	-6	5	-12	-0
Free Cash Flow	-2	3	-20	-6	-20	23	14	-46	-146	9	51	-113
CFO/OP	65%	41%	-19%	41%	-75%	351%	139%	-75%	-172%	53%	196%	-622%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	21	36	46	37	47	75	41	50	64	76	85	98
Inventory Days	55	54	84	37	40	61	62	53	58	51	47	45
Days Payable	5	26	25	5	15	67	43	37	63	88	106	90
Cash Conversion Cycle	71	64	105	69	72	69	60	67	58	38	26	53
Working Capital Days	-3	10	39	40	36	33	26	26	35	78	85	91
ROCE %		19%	22%	20%	12%	7%	13%	21%	15%	12%	7%	6%

Insights

In beta

Mar 2016

Mar 2017

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Mar 2023

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Mar 2025

Sales Volume
MT

xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xxx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xxx,xxx.xx	xxx,xxx.xx	xxx,xxx.xx	xxx,xxx.xx
	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xxx,xxx.xx	xxx,xxx.xx	xxx,xxx.xx
	xxx	xxx	xxx	xxx		xxx	xxx	xxx	xxx
	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx		xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx
		xxx	xxx	xxx	xxx	xxx	x,xxx	x,xxx	x,xxx
		xx.xx	xx.xx	xx.xx		xx.xx	xx.xx	xx.xx	xx.xx
xx.xx	xx.xx	xx.xx		xx.xx	xx.xx	xx.xx
	xx.xx	x.xx	xx.xx	xx.xx		xx.xx

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Production Volume
MT

Dealer / Distributor Network
count

Installed Capacity
MTPA

Number of SKUs
count

Capacity Utilization
%

Export Revenue Contribution
%

Galvanized Pipes Share of Revenue
% ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

3 Recently

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	57.14%	57.22%	56.70%	56.33%	47.97%	47.97%	47.97%	47.84%	37.76%	37.76%	35.89%	34.18%
	0.33%	0.33%	0.08%	0.05%	0.17%	0.07%	0.44%	0.46%	5.45%	5.73%	5.71%	2.70%
	0.69%	0.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	41.83%	41.84%	43.24%	43.61%	51.87%	51.98%	51.60%	51.70%	56.79%	56.52%	58.39%	63.12%
No. of Shareholders	71,733	74,086	1,64,880	2,79,751	8,51,948	8,50,598	8,42,661	8,97,389	8,58,278	8,17,808	8,08,104	8,08,539

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	59.52%	60.28%	60.40%	61.28%	62.33%	70.46%	65.11%	56.70%	47.97%	35.89%	34.18%
	0.00%	0.29%	0.00%	0.00%	0.00%	0.38%	2.74%	0.08%	0.44%	5.71%	2.70%
	0.70%	2.17%	0.00%	0.00%	0.00%	0.71%	0.67%	0.00%	0.00%	0.00%	0.00%
	39.78%	37.26%	39.60%	38.72%	37.67%	28.45%	31.48%	43.24%	51.60%	58.39%	63.12%
No. of Shareholders	2,947	4,193	3,641	3,805	3,376	27,026	54,997	1,64,880	8,42,661	8,08,104	8,08,539

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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