Ratnamani Metals & Tubes Ltd

About [ edit ]

Ratnamani Metals & Tubes is engaged in the manufacturing of stainless steel pipes and tubes and carbon steel pipes at Kutch, Indrad and Chhatral in the state of Gujarat.

  • Market Cap 8,528 Cr.
  • Current Price 1,825
  • High / Low 2,145 / 790
  • Stock P/E 36.5
  • Book Value 388
  • Dividend Yield 0.66 %
  • ROCE 24.1 %
  • ROE 19.0 %
  • Face Value 2.00

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 17.79%
  • Debtor days have improved from 76.28 to 52.31 days.

Cons

Peer comparison

Sector: Steel Industry: Steel - Medium / Small

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
609 730 728 687 588 610 756 629 578 577 441
519 614 628 588 485 494 648 533 504 495 361
Operating Profit 90 116 101 99 103 117 108 96 74 82 80
OPM % 15% 16% 14% 14% 18% 19% 14% 15% 13% 14% 18%
Other Income 17 11 11 3 11 22 15 14 13 14 14
Interest 5 4 4 2 4 6 6 6 5 6 6
Depreciation 16 16 16 15 14 14 15 15 14 14 13
Profit before tax 87 107 93 85 96 118 102 90 67 76 74
Tax % 33% 35% 32% 25% 35% 35% 1% 25% 26% 25% 19%
Net Profit 58 69 63 63 63 76 101 67 50 57 60
EPS in Rs 12.34 14.83 13.43 13.52 13.42 16.36 21.62 14.41 10.64 12.14 12.87

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
1,688 1,718 1,412 1,767 2,755 2,583 2,225
1,388 1,431 1,155 1,501 2,348 2,159 1,893
Operating Profit 300 287 257 266 407 424 331
OPM % 18% 17% 18% 15% 15% 16% 15%
Other Income 26 16 14 32 41 62 55
Interest 9 6 6 10 15 21 23
Depreciation 54 57 60 61 62 59 56
Profit before tax 262 240 205 228 371 406 307
Tax % 34% 31% 30% 33% 32% 24%
Net Profit 173 165 144 152 253 308 234
EPS in Rs 37.12 35.37 30.83 32.48 54.13 65.81 50.06
Dividend Payout % 15% 16% 18% 18% 17% 18%
Compounded Sales Growth
10 Years:%
5 Years:9%
3 Years:22%
TTM:-16%
Compounded Profit Growth
10 Years:%
5 Years:12%
3 Years:29%
TTM:-23%
Stock Price CAGR
10 Years:31%
5 Years:29%
3 Years:23%
1 Year:107%
Return on Equity
10 Years:%
5 Years:16%
3 Years:17%
Last Year:19%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
9 9 9 9 9 9 9
Reserves 900 1,036 1,178 1,299 1,513 1,700 1,805
Borrowings 39 23 0 79 65 252 171
279 250 226 360 465 584 438
Total Liabilities 1,227 1,319 1,414 1,747 2,053 2,545 2,424
425 446 448 445 440 500 486
CWIP 42 48 38 47 179 371 452
Investments 20 24 74 0 203 155 569
740 801 854 1,255 1,231 1,518 917
Total Assets 1,227 1,319 1,414 1,747 2,053 2,545 2,424

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
148 155 134 -73 554 215
-52 -11 -104 21 -360 -358
-74 -179 -28 42 -56 47
Net Cash Flow 23 -35 3 -10 137 -96

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 25% 19% 18% 26% 24%
Debtor Days 48 83 110 115 61 52
Inventory Turnover 3.63 2.85 2.57 3.34 2.40

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
60.09 60.09 60.09 60.09 60.09 60.09 60.09 60.16 60.16 60.16 60.16 60.16
13.49 13.49 13.49 11.66 11.35 11.26 9.65 9.72 9.68 9.64 10.09 11.21
6.56 6.63 6.86 8.76 9.29 9.80 11.46 12.21 13.78 14.09 14.38 14.26
19.86 19.79 19.56 19.49 19.27 18.85 18.80 17.91 16.38 16.11 15.36 14.36

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