Ratnamani Metals & Tubes Limited

NSE: RATNAMANI · Iron & Steel Products

52W Range₹1,937 ₹3,345

Snapshot

Unlock Ratnamani Metals & Tubes Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Ratnamani Metals & Tubes Limited is a manufacturer of stainless steel and carbon steel pipes and tubes, catering to diverse industrial sectors including oil and gas, power, and infrastructure. The company also provides specialised coating solutions and operates wind power generation assets.

Business Model

The company generates revenue through the manufacturing and sale of high-performance piping solutions and value-added coating services. It leverages a broad industrial client base and maintains operational diversification through its wind energy power generation segment.

  • Incorporation Year:1983

Growth Outlook

Growth is driven by sustained demand from critical infrastructure sectors such as oil and gas, nuclear power, and water distribution. The company continues to expand its product portfolio through advanced metallurgical solutions and specialised coating technologies.

Key Risks

  • Raw Material Price Volatility. Fluctuations in the prices of nickel, steel, and other raw materials can significantly impact operating margins.
  • Cyclical Industrial Demand. The company's performance is heavily dependent on capital expenditure cycles in the oil, gas, and power sectors.
  • Geopolitical and Trade Risks. As an exporter, the company faces risks related to international trade barriers, tariffs, and global economic instability.
  • Regulatory Compliance. Stringent environmental and safety regulations in the manufacturing and energy sectors may increase compliance costs.

Price

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Key Metrics

REVENUE

₹4,494 Cr

TTM · consolidated

-13.4%YoY

NET PROFIT

₹534 Cr

TTM · consolidated

-1.3%YoY

EPS

₹68.85

TTM · consolidated

-10.9%YoY

RETURN ON EQUITY

14.2%

TTM · consolidated

-2.4 ppYoY

RETURN ON CAPITAL EMPLOYED

18.2%

TTM · consolidated

-3.7 ppYoY

P/E

38.0x

Q4 FY26 · consolidated

38.0 vs 34.9x5Y avg

EV/EBITDA

21.1x

Q4 FY26 · consolidated

21.1 vs 25.1x5Y avg

EBITDA MARGIN

19.6%

TTM · consolidated

+2.6 ppYoY

NET PROFIT MARGIN

10.7%

Q4 FY26 · consolidated

-1.1 ppYoY

DEBT TO EQUITY

0.1x

Q4 FY26 · consolidated

+0.03xYoY

Peers · Iron & Steel Products

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Ratnamani Metals & Tubes LimitedRATNAMANI
15,91638.0221.12-13.4%19.6%14.2%18.2%-7.6%
Welspun Corp Ltd.WELCORP
21,20427.5019.0020.0%14.1%20.5%20.8%+85.4%
Godawari Power & Ispat Ltd.GPIL
17,60318.8811.980.1%25.0%15.6%20.8%+32.2%
Gallantt Ispat LimitedGALLANTT
13,00334.1821.902.9%17.6%16.4%19.9%+16.8%
Usha Martin Ltd.USHAMART
12,18931.0319.556.2%21.0%16.1%20.2%+31.1%
Jindal Saw Ltd.JINDALSAW
11,71517.549.27-14.1%12.9%7.9%11.8%+17.3%

As of Q4 FY26

Financials