Ratnamani Metals & Tubes Ltd

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Ratnamani Metals & Tubes Ltd

₹ 2,264 0.58%
12 Aug 1:18 p.m.
ratnamani.com BSE: 520111 NSE: RATNAMANI
About

Ratnamani Metals & Tubes Ltd is engaged in the manufacturing of stainless steel pipes and tubes and carbon steel pipes from its manufacturing facilities in India.[1]

Key Points

Business Segments
1) Steel Tubes & Pipes (93%): [1] The company offers nickel alloy/stainless steel seamless tubes & pipes, stainless steel welded tubes & pipes, titanium welded tubes, carbon steel pipes, pipe bends, etc for applications in industries like oil & gas, refineries, thermal power, nuclear power, chemicals, petrochemicals, etc. The segment revenue grew by 53% between FY22 and FY24. [2]

Website BSE NSE
  • Market Cap ₹ 15,872 Cr.
  • Current Price ₹ 2,264
  • High / Low ₹ 3,345 / 1,900
  • Stock P/E 45.3
  • Book Value ₹ 582
  • Dividend Yield 0.44 %
  • ROCE 15.4 %
  • ROE 11.3 %
  • Face Value ₹ 2.00
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Pros

  • Company is almost debt free.

Cons

  • The company has delivered a poor sales growth of 9.93% over past five years.

* 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 Nifty Total Market BSE Industrials BSE 1000 Nifty Smallcap 500 Nifty Microcap 250

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

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
1,112 1,072 1,199 1,424 1,110 898 1,294 1,575 1,062 940 794 893 741
913 831 1,005 1,184 956 749 1,080 1,283 871 800 658 771 661
Operating Profit 199 240 194 240 155 149 214 292 192 140 136 122 80
OPM % 18% 22% 16% 17% 14% 17% 17% 19% 18% 15% 17% 14% 11%
8 13 13 13 12 20 14 38 35 34 10 35 25
Interest 5 6 7 9 5 9 4 4 4 3 1 2 1
Depreciation 21 20 21 21 22 22 23 24 27 27 28 29 30
Profit before tax 182 226 179 222 139 137 200 301 195 144 118 126 73
Tax % 25% 25% 25% 24% 24% 25% 27% 25% 26% 25% 25% 26% 26%
137 169 134 168 105 102 146 225 145 108 88 93 54
EPS in Rs 19.49 24.16 19.18 23.99 15.02 14.62 20.77 32.06 20.68 15.44 12.54 13.25 7.71
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

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
1,687 1,718 1,412 1,767 2,755 2,586 2,298 3,139 4,370 4,807 4,876 3,689 3,368
1,388 1,431 1,154 1,501 2,348 2,159 1,898 2,644 3,608 3,933 4,067 3,100 2,890
Operating Profit 299 287 257 266 407 426 400 495 762 874 809 590 478
OPM % 18% 17% 18% 15% 15% 16% 17% 16% 17% 18% 17% 16% 14%
25 16 14 32 41 59 43 38 31 46 83 115 105
Interest 9 6 6 10 15 21 23 21 23 27 22 10 7
Depreciation 54 57 60 61 62 59 57 80 76 84 92 111 114
Profit before tax 261 240 205 228 371 406 363 431 694 810 778 583 461
Tax % 34% 31% 30% 33% 32% 24% 24% 25% 26% 25% 26% 26%
173 165 144 152 253 308 276 322 514 609 578 434 343
EPS in Rs 24.61 23.57 20.58 21.65 36.08 43.87 39.36 45.99 73.34 86.83 82.46 61.91 48.94
Dividend Payout % 15% 16% 18% 18% 17% 18% 24% 20% 16% 16% 17% 16%
Compounded Sales Growth
10 Years: 8%
5 Years: 10%
3 Years: -5%
TTM: -30%
Compounded Profit Growth
10 Years: 10%
5 Years: 10%
3 Years: -5%
TTM: -43%
Stock Price CAGR
10 Years: 20%
5 Years: 10%
3 Years: -5%
1 Year: -3%
Return on Equity
10 Years: 16%
5 Years: 16%
3 Years: 16%
Last Year: 11%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

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 9 9 9 9 9 9 9 9 14 14 14 14
Reserves 899 1,035 1,178 1,299 1,513 1,699 1,977 2,238 2,685 3,207 3,695 4,067
39 23 0 79 65 252 207 157 159 53 15 13
278 250 226 359 465 584 422 557 712 512 883 538
Total Liabilities 1,226 1,317 1,413 1,746 2,052 2,544 2,616 2,961 3,570 3,786 4,607 4,632
425 446 448 445 440 500 865 875 941 955 1,097 1,276
CWIP 42 48 38 47 179 371 76 107 87 158 148 185
Investments 20 24 74 0 203 155 637 109 244 198 328 820
739 799 853 1,254 1,230 1,518 1,038 1,871 2,298 2,475 3,034 2,351
Total Assets 1,226 1,317 1,413 1,746 2,052 2,544 2,616 2,961 3,570 3,786 4,607 4,632

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
146 156 135 -73 554 215 545 -272 317 489 521 976
-52 -11 -104 21 -360 -358 -470 406 -243 -109 -347 -1,024
-74 -179 -28 42 -56 47 -79 -135 -83 -208 -160 -106
Net Cash Flow 20 -34 4 -10 137 -96 -3 -0 -9 172 14 -154
Free Cash Flow 62 94 70 -142 389 -82 416 -415 192 316 309 678
CFO/OP 78% 77% 81% -0% 170% 75% 151% -30% 61% 81% 87% 193%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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 48 83 110 115 61 52 64 70 81 68 97 82
Inventory Days 112 95 141 184 113 185 133 193 151 146 141 159
Days Payable 41 40 48 62 56 57 60 55 41 35 30 26
Cash Conversion Cycle 119 138 202 237 118 180 137 208 190 178 208 216
Working Capital Days 82 118 167 173 78 98 85 145 125 134 145 172
ROCE % 30% 25% 19% 18% 26% 24% 19% 20% 27% 27% 22% 15%

Insights

In beta
Mar 2016 Mar 2017 Mar 2018 Apr 2019 Jul 2020 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Total Employees
Number of Employees

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Number of Countries Exported To
Count
Export Revenue Share of Total Revenue
% of Total Revenue
Stainless Steel Installed Capacity
Tonnes Per Annum (TPA)
Carbon Steel Installed Capacity
Tonnes Per Annum (TPA)
Ravi Technoforge Revenue
INR Crores
Order Book (Standalone)
INR Crores
Ratnamani Finow Spooling Solutions (RFSS) Revenue
INR Crores

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Shareholding Pattern

Numbers in percentages

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
59.77% 59.77% 59.77% 59.77% 59.77% 59.77% 59.77% 59.77% 59.77% 59.77% 59.77% 59.77%
12.87% 12.77% 12.86% 12.61% 12.70% 11.56% 11.63% 11.28% 11.15% 11.11% 10.60% 10.72%
16.47% 16.28% 16.14% 16.58% 16.75% 18.74% 18.80% 19.18% 18.79% 18.92% 19.45% 19.13%
0.00% 0.00% 0.00% 0.01% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
10.87% 11.15% 11.22% 11.03% 10.75% 9.92% 9.79% 9.74% 10.26% 10.19% 10.15% 10.37%
No. of Shareholders 28,77834,25339,19039,50338,49333,80233,43032,42240,48639,51638,60136,573

* 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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