Ratnamani Metals and Tubes Ltd

Crisil Ratings stated that the rating Revenue increased by 3% year-on-year in fiscal 2025, supported by volume growth as realisations remained muted due to lower commodity prices. EBITDA margin declined to 15.8% in fiscal 2025, from 18.2% in fiscal 2024, due to change in product mix with increase in orders from water applications that have lower profitability compared to oil and gas applications. The company's revenue is expected to increase by 8-10% over the medium term, driven by healthy order book position of Rs 2,000 crore, ramping up of increased production capacity and scaling up of revenue from subsidiaries. Meanwhile, the operating margin may sustain at 16-18%. The company plans to undertake a capital expenditure (capex) of Rs 1,600 crore, of which Rs 844 crore will be towards capacity expansion at helical submerged arc welding/longitudinal submerged arc welding (HSAW/LSAW) capacity at its existing plants and Rs 764 crore towards incremental capacity in subsidiaries. The capex at the company (standalone level) will be funded by internal cash accrual with major capex (nearly 64%) expected to be completed in fiscal 2026 and remaining by fiscal 2027. The capex in group companies - viz. Ravi Technoforge and Ratnamani Finow Spooling Solutions - and joint venture (JV) in Saudi will be funded by mix of debt and equity and should be completed by fiscal 2027. The capital structure of the company continues to be healthy and the debt coverage remains healthy as well. Ratios may remain healthy over the medium term as well. Financial and liquidity risk profiles are expected to remain strong, aided by healthy cash accrual against debt obligation of only Rs 40-50 crore over the medium term. The ratings continue to reflect the strong business risk profile of Ratnamani, supported by market leadership in the stainless steel Fs and pipes (SSTP) segment, diversified revenue and healthy financial risk profile as reflected in low gearing and comfortable debt protection metrics. These strengths are partially offset by large working capital requirement and susceptibility to slowdown in end-user industries. Ratnamani Metals and Tubes manufactures a wide range of welded and seamless SSTP (installed capacity of 61,500 TPA) and carbon steel pipes (5,10,000 TPA) of LSAW, HSAW, circumferential seam submerged arc welded and ERW pipes. The scrip shed 0.70% to currently trade at Rs 2887.60 on the BSE. Powered by Capital Market - Live

Ratnamani Metals & Tubes announced that the Board of Directors of the Company at its meeting held on 16 May 2025, inter alia, have recommended the final dividend of Rs 14 per equity Share (i.e. 700%) , subject to the approval of the shareholders.Powered by Capital Market - Live

Net profit of Ratnamani Metals & Tubes rose 7.80% to Rs 207.14 crore in the quarter ended March 2025 as against Rs 192.16 crore during the previous quarter ended March 2024. Sales rose 14.67% to Rs 1715.15 crore in the quarter ended March 2025 as against Rs 1495.71 crore during the previous quarter ended March 2024. For the full year,net profit declined 12.65% to Rs 543.98 crore in the year ended March 2025 as against Rs 622.79 crore during the previous year ended March 2024. Sales rose 2.52% to Rs 5186.47 crore in the year ended March 2025 as against Rs 5059.10 crore during the previous year ended March 2024. ParticularsQuarter EndedYear EndedMar. 2025Mar. 2024% Var.Mar. 2025Mar. 2024% Var. Sales1715.151495.71 15 5186.475059.10 3 OPM %17.6216.42 -15.8817.73 - PBDT304.57272.75 12 845.71925.21 -9 PBT275.94247.79 11 737.99827.67 -11 NP207.14192.16 8 543.98622.79 -13 Powered by Capital Market - Live

Ratnamani Metals & Tubes will hold a meeting of the Board of Directors of the Company on 16 May 2025.Powered by Capital Market - Live

Ratnamani Metals & Tubes Ltd is up for a third straight session today. The stock is quoting at Rs 2687.5, up 5.55% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.51% on the day, quoting at 22451.5. The Sensex is at 74122.32, up 0.53%. Ratnamani Metals & Tubes Ltd has slipped around 3.02% in last one month. Meanwhile, Nifty Metal index of which Ratnamani Metals & Tubes Ltd is a constituent, has slipped around 3.52% in last one month and is currently quoting at 8685.2, up 2.34% on the day. The volume in the stock stood at 1.61 lakh shares today, compared to the daily average of 22006 shares in last one month.The PE of the stock is 34.25 based on TTM earnings ending December 24.Powered by Capital Market - Live

Net profit of Ratnamani Metals & Tubes declined 1.17% to Rs 131.31 crore in the quarter ended December 2024 as against Rs 132.87 crore during the previous quarter ended December 2023. Sales rose 4.70% to Rs 1316.30 crore in the quarter ended December 2024 as against Rs 1257.26 crore during the previous quarter ended December 2023. ParticularsQuarter EndedDec. 2024Dec. 2023% Var. Sales1316.301257.26 5 OPM %15.4915.93 - PBDT215.06202.83 6 PBT188.12178.13 6 NP131.31132.87 -1 Powered by Capital Market - Live

Ratnamani Metals & Tubes Ltd dropped for a fifth straight session today. The stock is quoting at Rs 2530.4, down 2.91% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is up around 0.14% on the day, quoting at 23104.35. The Sensex is at 76395.31, up 0.13%.Ratnamani Metals & Tubes Ltd has lost around 15.73% in last one month.Meanwhile, Nifty Metal index of which Ratnamani Metals & Tubes Ltd is a constituent, has increased around 4.41% in last one month and is currently quoting at 8213.55, up 1.08% on the day. The volume in the stock stood at 26527 shares today, compared to the daily average of 26102 shares in last one month.The PE of the stock is 35.74 based on TTM earnings ending September 24.Powered by Capital Market - Live

Ratnamani Metals & Tubes will hold a meeting of the Board of Directors of the Company on 12 February 2025.Powered by Capital Market - Live

Ratnamani Metals & Tubes Ltd dropped for a fifth straight session today. The stock is quoting at Rs 2811.35, down 1.61% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 0.96% on the day, quoting at 22871.55. The Sensex is at 75485.37, down 0.93%.Ratnamani Metals & Tubes Ltd has lost around 12.16% in last one month.Meanwhile, Nifty Metal index of which Ratnamani Metals & Tubes Ltd is a constituent, has eased around 3.96% in last one month and is currently quoting at 8438.8, down 2.01% on the day. The volume in the stock stood at 15196 shares today, compared to the daily average of 33005 shares in last one month.The PE of the stock is 39.28 based on TTM earnings ending September 24.Powered by Capital Market - Live

Net profit of Ratnamani Metals & Tubes declined 38.75% to Rs 100.39 crore in the quarter ended September 2024 as against Rs 163.89 crore during the previous quarter ended September 2023. Sales declined 14.13% to Rs 971.33 crore in the quarter ended September 2024 as against Rs 1131.21 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales971.331131.21 -14 OPM %15.8021.65 - PBDT159.48244.71 -35 PBT133.58221.12 -40 NP100.39163.89 -39 Powered by Capital Market - Live