Rhetan TMT Ltd

NSE: RHETAN · Iron & Steel Products

52W Range₹15 ₹33

Snapshot

Unlock Rhetan TMT Ltd's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Rhetan TMT Limited is an Indian manufacturer specialising in the production and sale of thermo-mechanically treated (TMT) bars and round bars. Its products are primarily utilised in the construction of residential, commercial, and civil engineering infrastructure projects.

Business Model

The company generates revenue through the manufacturing and direct sale of steel products, serving both the construction and engineering component industries. It leverages its production capabilities to supply materials for large-scale infrastructure and civil engineering applications.

Growth Outlook

Growth is primarily driven by the ongoing expansion of India's infrastructure sector and the increasing demand for high-quality construction materials in urban development projects.

Key Risks

  • Raw Material Price Volatility. Fluctuations in the cost of iron ore and steel scrap can significantly impact the company's operating margins.
  • Cyclicality of Construction Sector. The demand for TMT bars is highly dependent on the health of the real estate and infrastructure industries, which are sensitive to economic cycles.
  • Intense Market Competition. The company faces stiff competition from both large-scale integrated steel producers and numerous unorganised local players.
  • Regulatory and Environmental Risks. Stricter environmental regulations regarding emissions and energy consumption in steel manufacturing could lead to increased compliance costs.

Price

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Key Metrics

REVENUE

₹24 Cr

TTM · standalone

-34.2%YoY

NET PROFIT

₹10 Cr

TTM · standalone

+108.1%YoY

EPS

₹0.19

TTM · standalone

+171.4%YoY

RETURN ON CAPITAL EMPLOYED

42.9%

TTM · standalone

+32.9 ppYoY

P/E

162.5x

Q4 FY26 · standalone

162.5 vs 337.6x5Y avg

EV/EBITDA

165.1x

Q4 FY26 · standalone

165.1 vs 271.3x5Y avg

EBITDA MARGIN

62.0%

TTM · standalone

+41.2 ppYoY

NET PROFIT MARGIN

26.1%

Q4 FY26 · standalone

+18.7 ppYoY

Peers · Iron & Steel Products

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Rhetan TMT LtdRHETAN
1,973162.53165.05-34.2%62.0%37.9%42.9%+81.1%
Vardhman SpecialVSSL
2,24922.8114.18-0.6%11.9%13.3%18.7%+12.1%
Shivalik BimetalSBCL
2,20443.3929.4712.3%25.0%22.6%28.7%+25.2%
Venus PipesVENUSPIPES
2,00036.4819.9621.7%17.3%18.0%28.5%+11.4%
JTL Industries LimitedJTLIND
1,91729.3119.2511.5%7.8%8.0%11.0%-6.3%
MSP Steel & Pow.MSPL
1,64363.0313.36-2.1%6.4%3.4%2.4%+10.7%

As of Q4 FY26

Financials