Ratnamani Metals & Tubes Ltd logo

Ratnamani Metals & Tubes Ltd

RATNAMANI NSE

Key Fundamentals

SmallcapIron & Steel ProductsIndustrial Products
Market Cap
₹16,842 Cr
Volatility
Moderate
P/E Ratio
38.36
EBITDA
₹880 Cr
Return on Equity
12.7%
Debt to Equity
0.08
Book Value
₹586.46
EPS
₹84.75
52W High
₹3,345
52W Low
₹1,936.5

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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39 extracted metrics + investor summaries across FY15–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

1
  • Company is almost debt free.

Growth Rate

Revenue Growth
-12.01% ↗
Net Income Growth
-1.31% ↗
Cash Flow Change
74.56% ↗
ROE
-14.07% ↘
ROCE
-17.74% ↘
EBITDA Margin (Avg.)
13.25% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 5d ago
AI opinion · based on fundamentals
Risk medium

Ratnamani Metals & Tubes Ltd is a nearly debt-free industrial products company with a market cap of ₹16,067 Cr trading at a PE of 30.5x. The company has delivered strong long-term growth (10-year sales CAGR of 10%, profit CAGR of 11%) but is currently experiencing a significant near-term slowdown with TTM sales declining 16% and profits falling 23%.

Bull Case 7
  • Company is almost debt-free, providing financial resilience and flexibility to fund growth without dilution or interest burden
  • Strong long-term wealth creation track record with 10-year stock CAGR of 20%, significantly outperforming broader indices
  • Consistent ROE of 17% over 5-year and 10-year periods demonstrates sustained capital efficiency and competitive moat in stainless steel and carbon steel tubes/pipes
  • 10-year compounded sales growth of 10% and profit growth of 11% indicate a structurally growing business benefiting from oil & gas, power, and infrastructure capex cycles
  • 5-year compounded sales growth of 14% and profit growth of 12% show acceleration in medium-term business momentum prior to the current slowdown
  • Price-to-book ratio of 3.81x is reasonable for a company with 17% long-term ROE, suggesting the market is not excessively pricing in future growth
  • Dividend yield of 0.45% while modest, reflects a consistent capital return policy even during a cyclical downturn in earnings
Bear Case 8
  • TTM sales have declined 16% year-over-year, signalling a sharp demand slowdown or order execution challenges in the near term
  • TTM profit has dropped 23%, a steeper fall than revenue indicating margin compression alongside volume decline
  • 3-year compounded sales growth is flat at 0% and profit growth is negative at -1%, suggesting the slowdown is not merely a one-quarter blip
  • PE of 30.5x is elevated for a company currently delivering negative earnings growth, implying the stock is priced for a recovery that may or may not materialise
  • Last year ROE has declined to 13% from a 5-year average of 17%, a 400 basis point deterioration reflecting lower profitability
  • Stock has delivered negative returns over 1-year (-5%) and 3-year (-6%) CAGR, indicating sustained underperformance and potential de-rating
  • Being in the industrial/capital goods segment, the company is inherently cyclical and dependent on oil & gas and infrastructure capex which can be lumpy and policy-driven
  • Dividend yield of only 0.45% provides minimal downside support for investors during periods of earnings decline

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 19h ago
Headwinds 1
  • Q1FY27 profit falls 15.8% Aug 08

    Consolidated net profit dropped 15.8% to ₹1,070.25M in Q1FY27. Standalone profits fell sharply by 62.7% due to weak domestic demand.

Positives 3
  • Order book over ₹2,000 crore Aug 08

    Despite weak Q1 results, the order book expanded to over ₹2,000 crore, indicating potential revenue recovery ahead.

  • Subsidiary EBITDA rising Aug 08

    Subsidiary-level EBITDA rose in Q1FY27, partially offsetting the standalone profit decline and showing diversification benefits.

  • Healthy FY26 EBITDA margins Jul 21

    FY26 consolidated revenue stood at ₹4,493.96 Crores with EBITDA margins at 19.6% and PAT of ₹534.47 Crores, with ₹10 dividend declared.

Neutral 1
  • 42nd AGM on August 18 Jul 21

    Ratnamani Metals scheduled its 42nd AGM for August 18, 2026, with ₹10 per share dividend on the agenda.

TL;DR: Ratnamani Metals faces near-term pressure from weak domestic demand, evidenced by a 15.8% profit decline in Q1FY27 and a sharp 62.7% standalone drop. However, a robust order book above ₹2,000 crore and healthy FY26 EBITDA margins of 19.6% provide a cushion. Subsidiary performance is improving, offering diversification. The trend may stabilize if domestic demand recovers and the strong order pipeline converts to revenue in coming quarters.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
1,175
1,131
1,257
1,496
1,184
971
1,316
1,715
1,152
1,192
1,066
1,085
972
Expenses
969
886
1,057
1,250
1,020
818
1,112
1,413
963
980
861
931
809
Operating Profit
206
245
200
246
164
154
204
302
188
211
205
154
162
OPM %
18%
22%
16%
16%
14%
16%
15%
18%
16%
18%
19%
14%
17%
Other Income
9
11
15
39
12
20
19
9
30
27
13
41
18
Interest
10
11
13
12
10
14
7
7
11
7
7
6
6
Depreciation
24
24
25
25
26
26
27
29
32
32
33
35
36
PBT
181
221
178
248
140
134
188
276
176
199
177
154
137
Tax %
25%
26%
25%
22%
25%
26%
29%
26%
28%
22%
24%
25%
22%
Net Profit
135
164
133
193
106
99
133
203
127
156
135
116
107
EPS in Rs
19.1
23.38
18.96
27.42
15
14.32
18.73
29.55
18.81
19.43
15.67
14.93
11.72
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
1,688
1,718
1,412
1,767
2,755
2,586
2,298
3,139
4,474
5,059
5,186
4,494
4,314
Expenses
1,388
1,431
1,155
1,501
2,348
2,159
1,898
2,644
3,699
4,162
4,363
3,736
3,582
Operating Profit
300
287
257
266
407
427
400
495
776
897
824
758
732
OPM %
18%
17%
18%
15%
15%
16%
17%
16%
17%
18%
16%
17%
17%
Other Income
26
16
14
32
41
59
43
38
32
73
60
112
99
Interest
9
6
6
10
15
21
23
21
31
45
37
31
27
Depreciation
54
57
60
61
62
59
57
80
83
98
108
132
136
PBT
262
240
205
228
371
406
363
431
694
828
738
706
668
Tax %
34%
31%
30%
33%
32%
24%
24%
25%
26%
24%
27%
24%
—
Net Profit
173
165
144
152
253
308
276
323
512
625
542
534
514
EPS in Rs
24.74
23.58
20.55
21.65
36.08
43.87
39.37
46.03
72.83
88.85
77.61
68.85
61.75
Div. Payout %
15%
16%
18%
18%
17%
18%
24%
20%
16%
16%
18%
15%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
9
9
9
9
9
9
9
9
14
14
14
14
Reserves
900
1,036
1,178
1,299
1,513
1,700
1,978
2,239
2,590
3,127
3,623
4,097
Borrowings
39
23
0
79
65
252
207
157
237
153
157
318
Other Liabilities
279
250
226
360
465
584
422
557
939
726
1,108
957
Total Liabilities
1,227
1,319
1,414
1,747
2,053
2,545
2,617
2,962
3,780
4,020
4,903
5,385
Fixed Assets
425
446
448
445
440
500
865
875
1,122
1,164
1,348
1,611
CWIP
42
48
38
47
179
371
76
107
101
167
190
302
Investments
20
24
74
0
203
155
637
109
135
89
180
644
Other Assets
740
801
854
1,255
1,231
1,518
1,039
1,873
2,422
2,601
3,185
2,828
Total Assets
1,227
1,319
1,414
1,747
2,053
2,545
2,617
2,962
3,780
4,020
4,903
5,385
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
148
155
134
-73
554
215
546
-283
310
511
536
936
Investing
-52
-11
-104
21
-360
-358
-470
418
-204
-146
-388
-1,147
Financing
-74
-179
-28
42
-56
47
-79
-135
-116
-193
-130
59
Net Cash Flow
23
-35
3
-10
137
-96
-3
0
-10
173
18
-151
Free Cash Flow
65
94
69
-142
389
-83
417
-427
173
302
230
452
CFO/OP
78
77
81
0
170
75
151
-33
59
82
87
147
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
48
83
110
115
61
52
64
70
82
68
89
82
Inventory Days
112
95
141
184
113
185
133
193
156
148
163
174
Days Payable
41
40
48
62
56
57
60
55
46
39
42
46
Cash Conversion Cycle
119
138
202
237
118
180
137
208
192
177
210
210
Working Capital Days
81
118
167
173
78
98
85
145
123
128
134
148
ROCE %
—
25%
19%
18%
26%
24%
19%
20%
27%
28%
22%
18%

Shareholding Pattern

As of Jun 2026
Promoters 59.77%
DIIs 19.13%
FIIs 10.72%
Public 8.61%
Others 1.75%
Government 0.02%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Jul 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
60.16%
60.16%
60.16%
60.16%
60.16%
60.16%
60.16%
60.10%
60.10%
60.06%
59.77%
59.77%
59.77%
59.77%
59.77%
59.77%
59.77%
59.77%
59.77%
59.77%
59.77%
59.77%
59.77%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
12.87%
0.00%
12.87%
12.61%
12.71%
11.55%
11.62%
11.28%
11.15%
11.11%
10.60%
10.72%
DIIs
14.19%
14.01%
15.10%
15.85%
16.09%
16.29%
16.24%
16.18%
16.34%
16.39%
16.40%
16.47%
16.17%
16.13%
16.58%
16.76%
18.74%
18.80%
19.19%
18.79%
18.92%
19.45%
19.13%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.01%
0.02%
0.02%
0.02%
0.02%
0.02%
0.02%
0.02%
0.02%
Public
12.52%
11.65%
10.75%
9.94%
9.65%
9.41%
9.41%
9.27%
9.23%
8.96%
9.12%
9.06%
9.09%
9.29%
9.18%
8.96%
8.28%
8.14%
8.13%
8.47%
8.37%
8.31%
8.61%
Others
13.12%
14.17%
13.98%
14.05%
14.10%
14.14%
14.19%
14.44%
14.33%
14.58%
14.71%
1.82%
14.97%
1.93%
1.84%
1.79%
1.64%
1.64%
1.62%
1.79%
1.82%
1.84%
1.75%
No. of Shareholders
12,161
16,557
16,352
16,310
16,830
18,744
18,906
20,287
20,184
27,403
26,561
28,778
34,253
39,190
39,503
38,493
33,802
33,430
32,422
40,486
39,516
38,601
36,573

Documents

Frequently Asked Questions about Ratnamani Metals & Tubes Ltd

What does Ratnamani Metals & Tubes Ltd do?
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]
Where is Ratnamani Metals & Tubes Ltd (RATNAMANI) listed?
Ratnamani Metals & Tubes Ltd is listed on the Indian stock exchanges. It is listed on NSE: RATNAMANI and BSE: 520111. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Ratnamani Metals & Tubes Ltd belong to?
Ratnamani Metals & Tubes Ltd operates in the Industrial Products sector within the Iron & Steel Products industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Ratnamani Metals & Tubes Ltd?
Ratnamani Metals & Tubes Ltd has a market capitalisation of approximately ₹16842.41 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Ratnamani Metals & Tubes Ltd?
The Price-to-Earnings (PE) ratio of Ratnamani Metals & Tubes Ltd is 38.36. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Ratnamani Metals & Tubes Ltd?
Over the past 52 weeks, Ratnamani Metals & Tubes Ltd has traded between a low of ₹1,936.5 and a high of ₹3,345. This range helps investors understand the stock's price volatility and recent trading levels.
Does Ratnamani Metals & Tubes Ltd pay dividends?
Yes, Ratnamani Metals & Tubes Ltd has a dividend yield of 0.42%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Ratnamani Metals & Tubes Ltd?
Ratnamani Metals & Tubes Ltd has a Return on Equity (ROE) of 12.70%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Ratnamani Metals & Tubes Ltd on Tapetide?
On Tapetide, you can view Ratnamani Metals & Tubes Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

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]

Website ratnamani.com
CEO Mr. Prakash Mishrimal Sanghvi
Employees 3,165
Listed 2006-05-09
Face Value ₹ 2
Issued Size 7,00,92,000

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