Ratnamani Metals & Tubes Ltd

Ratnamani Metals & Tubes Ltd

₹ 3,145 -0.01%
04 Mar 4:01 p.m.
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

Product Portfolio & revenue split
The company's product portfolio comprises Nickel Alloy/ Stainless steel seamless tubes & pipes, stainless steel welded tubes & pipes, titanium welded tubes, carbon steel pipes, etc. [1] In Q3FY22, 77% of the revenues were generated from the carbon steel segment and remaining 23% from the stainless steel segment. [2]

  • Market Cap 22,034 Cr.
  • Current Price 3,145
  • High / Low 3,939 / 1,916
  • Stock P/E 35.4
  • Book Value 402
  • Dividend Yield 0.38 %
  • ROCE 27.3 %
  • ROE 21.0 %
  • Face Value 2.00

Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 27.5% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 20.2%

Cons

  • Stock is trading at 7.82 times its book value

* 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

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
442 696 526 712 927 974 977 900 1,099 1,499 1,175 1,131 1,257
361 537 441 600 796 806 846 755 900 1,199 969 886 1,057
Operating Profit 81 159 85 111 131 169 131 145 199 301 206 245 200
OPM % 18% 23% 16% 16% 14% 17% 13% 16% 18% 20% 18% 22% 16%
12 9 8 9 11 10 9 10 7 7 9 11 15
Interest 6 6 5 5 5 6 5 5 8 14 10 11 13
Depreciation 13 15 19 19 19 23 19 19 20 25 24 24 25
Profit before tax 74 147 68 96 118 149 116 132 178 268 181 221 178
Tax % 19% 25% 26% 26% 24% 25% 25% 25% 25% 28% 25% 26% 25%
60 109 50 72 89 112 87 99 134 193 135 164 133
EPS in Rs 8.58 15.61 7.19 10.20 12.71 15.92 12.39 14.09 19.02 27.33 19.10 23.38 18.96
Raw PDF

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 TTM
1,688 1,718 1,412 1,767 2,755 2,586 2,298 3,139 4,474 5,062
1,388 1,431 1,155 1,501 2,348 2,159 1,898 2,644 3,699 4,110
Operating Profit 300 287 257 266 407 427 400 495 776 952
OPM % 18% 17% 18% 15% 15% 16% 17% 16% 17% 19%
26 16 14 32 41 59 43 38 32 41
Interest 9 6 6 10 15 21 23 21 31 47
Depreciation 54 57 60 61 62 59 57 80 83 98
Profit before tax 262 240 205 228 371 406 363 431 694 848
Tax % 34% 31% 30% 33% 32% 24% 24% 25% 26%
173 165 144 152 253 308 276 323 512 625
EPS in Rs 24.74 23.58 20.55 21.65 36.08 43.87 39.37 46.03 72.83 88.77
Dividend Payout % 15% 16% 18% 18% 17% 18% 24% 20% 16%
Compounded Sales Growth
10 Years: %
5 Years: 20%
3 Years: 20%
TTM: 28%
Compounded Profit Growth
10 Years: %
5 Years: 27%
3 Years: 18%
TTM: 44%
Stock Price CAGR
10 Years: 40%
5 Years: 39%
3 Years: 34%
1 Year: 41%
Return on Equity
10 Years: %
5 Years: 18%
3 Years: 17%
Last Year: 21%

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 Sep 2023
Equity Capital 9 9 9 9 9 9 9 9 14 14
Reserves 900 1,036 1,178 1,299 1,513 1,700 1,978 2,239 2,590 2,805
39 23 0 79 65 252 207 157 237 177
279 250 226 360 465 584 422 557 939 721
Total Liabilities 1,227 1,319 1,414 1,747 2,053 2,545 2,617 2,962 3,780 3,717
425 446 448 445 440 500 865 875 1,122 1,112
CWIP 42 48 38 47 179 371 76 107 101 153
Investments 20 24 74 0 203 155 637 109 135 157
740 801 854 1,255 1,231 1,518 1,039 1,873 2,422 2,296
Total Assets 1,227 1,319 1,414 1,747 2,053 2,545 2,617 2,962 3,780 3,717

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
148 155 134 -73 554 215 546 -283 310
-52 -11 -104 21 -360 -358 -470 418 -208
-74 -179 -28 42 -56 47 -79 -135 -116
Net Cash Flow 23 -35 3 -10 137 -96 -3 0 -13

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
Debtor Days 48 83 110 115 61 52 64 70 82
Inventory Days 112 95 141 184 113 185 133 193 156
Days Payable 41 40 48 62 56 57 60 55 46
Cash Conversion Cycle 119 138 202 237 118 180 137 208 192
Working Capital Days 86 121 167 190 86 104 85 151 136
ROCE % 25% 19% 18% 26% 24% 19% 20% 27%

Shareholding Pattern

Numbers in percentages

1 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
60.16% 60.16% 60.16% 60.16% 60.16% 60.16% 60.10% 60.10% 60.06% 59.77% 59.77% 59.77%
11.21% 11.92% 11.92% 12.01% 12.13% 12.28% 12.51% 12.51% 12.77% 12.79% 12.87% 12.77%
14.26% 14.06% 15.27% 16.02% 16.26% 16.36% 16.25% 16.34% 16.39% 16.45% 16.47% 16.28%
14.36% 13.85% 12.65% 11.81% 11.45% 11.20% 11.14% 11.03% 10.76% 10.99% 10.87% 11.15%
No. of Shareholders 12,16116,75716,35216,31016,83018,74420,28720,18427,40326,56128,77834,253

* 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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Documents

Concalls