Rama Steel Tubes Ltd

₹ 13.2 -1.05%

12 Dec 4:00 p.m.

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
Company is into manufacturing and trading steel tubes and pipes and galvanised iron pipes. Its product range includes MS ERW black pipes and galvanised iron pipes in light, medium and heavy sizes. ^[1] ^[2]

Website BSE NSE

Market Cap ₹ 2,055 Cr.
Current Price ₹ 13.2
High / Low ₹ 17.6 / 9.90
Stock P/E 78.1
Book Value ₹ 2.26
Dividend Yield 0.00 %
ROCE 12.4 %
ROE 9.96 %
Face Value ₹ 1.00

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Pros

Company has reduced debt.
Company has delivered good profit growth of 28.3% CAGR over last 5 years

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Promoter holding has decreased over last quarter: -8.37%
Company has a low return on equity of 14.0% over last 3 years.
Company's cost of borrowing seems high

* 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

Sector: Steel Industry: Steel - Medium / Small

Part of BSE Industrials BSE SmallCap BSE Allcap

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	192.99	184.98	251.90	240.02	347.24	350.25	399.24	312.52	203.33	262.39	268.27	216.64	263.05
	183.77	175.85	236.26	233.71	339.57	340.68	371.59	296.38	191.18	245.16	254.81	205.23	262.47
Operating Profit	9.22	9.13	15.64	6.31	7.67	9.57	27.65	16.14	12.15	17.23	13.46	11.41	0.58
OPM %	4.78%	4.94%	6.21%	2.63%	2.21%	2.73%	6.93%	5.16%	5.98%	6.57%	5.02%	5.27%	0.22%
	2.97	2.97	-0.92	3.60	3.33	7.10	-5.33	2.04	1.13	1.78	0.51	0.96	9.40
Interest	2.50	2.89	3.25	3.84	4.06	5.69	6.62	7.19	3.94	7.27	2.84	3.23	2.66
Depreciation	1.08	1.13	1.08	1.06	1.18	1.23	1.25	1.42	1.33	1.45	1.45	1.73	1.40
Profit before tax	8.61	8.08	10.39	5.01	5.76	9.75	14.45	9.57	8.01	10.29	9.68	7.41	5.92
Tax %	17.65%	30.69%	28.78%	15.57%	10.94%	20.00%	19.24%	22.05%	17.98%	13.31%	21.07%	16.33%	27.03%
	7.09	5.60	7.40	4.23	5.13	7.80	11.67	7.46	6.58	8.92	7.65	6.20	4.31
EPS in Rs	0.06	0.04	0.06	0.03	0.04	0.05	0.08	0.05	0.04	0.06	0.05	0.04	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	TTM
	192	242	260	377	504	353	470	768	1,337	1,047	1,010
	187	227	240	354	488	344	452	726	1,285	987	968
Operating Profit	6	15	20	22	16	9	18	42	51	59	43
OPM %	3%	6%	8%	6%	3%	2%	4%	5%	4%	6%	4%
	3	3	4	5	5	6	8	9	8	5	13
Interest	5	6	8	6	9	10	8	11	20	21	16
Depreciation	2	3	3	2	3	3	3	4	5	6	6
Profit before tax	1	9	13	18	9	2	15	36	35	38	33
Tax %	22%	30%	28%	31%	11%	80%	16%	24%	22%	20%
	1	6	9	13	8	0	12	27	27	30	27
EPS in Rs	0.01	0.05	0.08	0.10	0.07	0.00	0.10	0.22	0.19	0.19	0.18
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	3%	0%	0%

Compounded Sales Growth
10 Years:	%
5 Years:	16%
3 Years:	31%
TTM:	-20%

Compounded Profit Growth
10 Years:	%
5 Years:	28%
3 Years:	33%
TTM:	-18%

Stock Price CAGR
10 Years:	%
5 Years:	94%
3 Years:	62%
1 Year:	3%

Return on Equity
10 Years:	%
5 Years:	12%
3 Years:	14%
Last Year:	10%

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	Sep 2024
Equity Capital	1	7	8	8	8	8	8	8	47	154	155
Reserves	18	18	44	70	79	79	92	118	204	181	196
	56	58	57	63	90	83	85	138	193	145	96
	21	23	26	11	24	67	62	94	252	254	223
Total Liabilities	96	107	135	153	200	238	248	358	695	734	670
	12	17	26	42	41	41	51	57	106	110	103
CWIP	6	1	1	0	1	7	4	6	1	1	6
Investments	13	12	2	2	5	7	8	8	13	6	6
	65	77	106	109	154	183	184	288	574	617	555
Total Assets	96	107	135	153	200	238	248	358	695	734	670

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
	3	5	-7	5	-17	30	25	-35	-96	18
	-7	-2	-1	-9	-3	-7	-10	-9	-53	-1
	9	-5	10	6	17	-17	-6	41	143	-13
Net Cash Flow	5	-1	1	2	-3	6	9	-3	-6	5

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
Debtor Days	21	36	46	37	47	75	41	50	64	76
Inventory Days	55	54	84	37	40	61	62	53	58	51
Days Payable	5	26	25	5	15	67	43	37	63	88
Cash Conversion Cycle	71	64	105	69	72	69	60	67	58	38
Working Capital Days	65	67	95	82	84	96	69	77	79	119
ROCE %		19%	22%	20%	12%	7%	13%	21%	15%	12%

Shareholding Pattern

Numbers in percentages

14 Recently

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	62.33%	70.46%	70.46%	65.40%	65.40%	65.11%	63.91%	57.14%	57.22%	56.70%	56.33%	47.97%
	0.59%	0.38%	2.76%	4.49%	3.33%	2.74%	2.16%	0.33%	0.33%	0.08%	0.05%	0.17%
	0.00%	0.71%	0.71%	0.66%	0.66%	0.67%	0.63%	0.69%	0.59%	0.00%	0.00%	0.00%
	37.08%	28.45%	26.07%	29.44%	30.60%	31.48%	33.30%	41.83%	41.84%	43.24%	43.61%	51.87%
No. of Shareholders	7,521	27,026	19,273	24,278	33,592	54,997	59,608	71,733	74,086	1,64,880	2,79,751	8,51,948

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	59.52%	60.28%	60.40%	61.28%	62.33%	70.46%	65.11%	56.70%	47.97%
	0.00%	0.29%	0.00%	0.00%	0.00%	0.38%	2.74%	0.08%	0.17%
	0.70%	2.17%	0.00%	0.00%	0.00%	0.71%	0.67%	0.00%	0.00%
	39.78%	37.26%	39.60%	38.72%	37.67%	28.45%	31.48%	43.24%	51.87%
No. of Shareholders	2,947	4,193	3,641	3,805	3,376	27,026	54,997	1,64,880	8,51,948

* 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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Nov 2022
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Sep 2021

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Aug 2016

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