Ratnamani Metals & Tubes Ltd
₹2,319.85-₹8.75 (-0.4%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹15,320 Cr
- P/E
- 24.6x
- EV / EBITDA
- 16.2x
- Revenue
- ₹4,876 Cr
- Net margin
- 12.7%
- ROCE
- 26.7%
Price chart
Technical chartScreen technicals →-4.1% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- -14.8%
- 3M
- -2.8%
- 6M
- -12.2%
- 1Y
- -4.1%
- 5Y
- +59.3%
52-week range
Day change -₹8.75 (-0.4%) from ₹2,329 to ₹2,320 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in RATNAMANI, bought on each weekday since 2021.
AI Summary
Indian StockStrengths1
- Healthy return on equity of 18.9%
Concerns0
Rule-based from financial data. Not advice.
About the company
Ratnamani Metals & Tubes Limited manufactures and sells stainless steel pipes and tubes, and carbon steel pipes in India and internationally.
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Ratnamani Metals & Tubes Limited manufactures and sells stainless steel pipes and tubes, and carbon steel pipes in India and internationally. The company's stainless-steel products include seamless heat exchanger tubes, boiler tubes, instrumentation tubes, seamless pipes, heater pipes, seamless integral low-finned tubes, hollow bars, and coil tubes; and welded tubes and pipes, such as titanium welded tubes, seam-welded integral low, finned tubes, coil tubes, square and rectangular pipes, stainless steel 3lpe / pp /, and aro coated pipes. It also provides nickel alloy seamless heat exchanger and instrumentation tubes, and nickel alloy seamless pipes; titanium welded tubes; induction bending; and carbon steel products, such as high frequency electric resistance and submerged arc welded pipes. In addition, the company offers pipe coating solutions comprising external three-layer polyethylene/polypropylene coating and single/dual-layer fusion bonded epoxy coating; and internal coating solutions, such as internal liquid epoxy and cement mortar lining coatings. Further, it is involved in the generation of power from windmills. The company offers its products for various industries and applications, such as oil and gas exploration, LNG, food and dairy, fertilizer plants, thermal, solar and nuclear plants, defence, automobile, chemical, power plants, CNG, sugar, pulp and paper, petrochemicals and refineries, atomic energy, aerospace, desalination plants, pharmaceutical, marine, cross-country pipeline for gas and water, pipes for engineering purpose, booster compressors and dispensers, water distribution pipelines, plumbing and heating, city gas distribution, structural pipe systems, sewerage, dredging pipes, mining pipes, air duct pipes, high mast pipes for windmill towers, and general purpose applications. The company was incorporated in 1983 and is headquartered in Ahmedabad, India.
- Sector
- Materials
- Shares outstanding
- 7.0 Cr shares
- ISIN
- INE703B01027
- BSE code
- 520111
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹15,320 Cr
- P/E
- 24.6x
- P/B
- 4.0x
- EV / EBITDA
- 16.2x
- EV / Sales
- 3.1x
- P/S
- 3.2x
- Earnings yield
- 4.1%
- 52-week high
- ₹3,111.45
- 52-week low
- ₹1,965.40
Profitability
- Operating margin
- 18.2%
- Net margin
- 12.7%
- EBITDA margin
- 19.1%
- ROE
- 18.9%
- ROCE
- 26.7%
- ROA
- 16.1%
- Dividend payout
- 16.0%
- Tax rate
- 25.0%
- Other income, % of PBT
- 5.7%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹4,876 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 1.4%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 13.2%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹920 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 16.0%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -5.1%
- Net profit CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 14.6%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹489 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 54.3%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹14.0 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 6.1%
Solvency and efficiency
- Current ratio
- 5.22
- Debt / Equity
- 0.02
- Debt / Assets
- 0.01
- Debt / EBITDA
- 0.06
- Interest coverage
- 32.37
- Financial leverage
- 1.18
- CFO / Net profit
- 0.80
- Cash / Market cap
- 16.2%
- Cash per share
- ₹353.48
- Asset turnover
- 1.27
- Fixed asset turnover
- 5.03
- Capital intensity
- 0.20
- Debtor days
- 68 days
- Inventory turnover
- 2.50
- Cash conversion cycle
- 178 days
Where the revenue went
Of every ₹100 of FY2025 revenue, ₹12 was left as net profit.
| From | To | Amount |
|---|---|---|
| Sales | Expenses | ₹4,067 Cr |
| Sales | Operating profit | ₹809 Cr |
| Operating profit | Interest | ₹22 Cr |
| Operating profit | Depreciation | ₹92 Cr |
| Operating profit | Profit before tax | ₹695 Cr |
| Other income | Profit before tax | ₹83 Cr |
| Profit before tax | Tax and other | ₹200 Cr |
| Profit before tax | Net profit | ₹578 Cr |
Revenue and net profit
Revenue grew 1.4% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹2,298 Cr | ₹276 Cr |
| FY2022 | ₹3,139 Cr | ₹322 Cr |
| FY2023 | ₹4,370 Cr | ₹514 Cr |
| FY2024 | ₹4,807 Cr | ₹609 Cr |
| FY2025 | ₹4,876 Cr | ₹578 Cr |
Cash flows
FY2025: ₹521 Cr from operations, ₹174 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹545 Cr | ₹75 Cr |
| FY2022 | -₹272 Cr | ₹134 Cr |
| FY2023 | ₹317 Cr | ₹74 Cr |
| FY2024 | ₹489 Cr | ₹380 Cr |
| FY2025 | ₹521 Cr | ₹174 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹4,876 Cr+1.4%1Y
- Net profit
- ₹578 Cr-5.1%1Y
- Cash from operations
- ₹521 Cr
- Free cash flow
- ₹174 Cr-54.2%1Y
- Revenue CAGR, 5Y
- 13.2%
- EBITDA CAGR, 5Y
- 13.7%
- Net profit CAGR, 5Y
- 14.6%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹4,876 Cr | ₹809 Cr | — | ₹578 Cr | ₹521 Cr | ₹174 Cr | 15.6% | +1.4% | -5.1% |
Monthly returns
Month-by-month returns of RATNAMANI across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹4,607 Cr |
| Equity capital | ₹14 Cr |
| Reserves | ₹3,695 Cr |
| Borrowings | ₹15 Cr |
| Other liabilities | ₹883 Cr |
| Assets | ₹4,607 Cr |
| Fixed assets | ₹1,097 Cr |
| Capital work in progress | ₹148 Cr |
| Investments | ₹328 Cr |
| Other assets | ₹3,034 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
RATNAMANI trades at 24.6x earnings against a peer median of 35.5x (a 31% discount).
Not shown (no positive earnings and no EV / Sales): India Cements Ltd.
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| Ratnamani Metals & Tubes LtdRATNAMANIthis companyP/E ↓ discount | ₹15,320 Cr | 24.6x | 4.0x | 18.9% | 16.2x |
| JSW CEMENT LIMITEDJSWCEMENT | ₹16,674 Cr | 86.4x | 2.5x | 8.2% | 20.5x |
| Vinati Organics Ltd.VINATIORGA | ₹16,332 Cr | 35.1x | 5.5x | 13.1% | 31.6x |
| BASF India LtdBASF | ₹15,644 Cr | 40.7x | 4.1x | 17.5% | 15.0x |
| Deepak Fertilizers &PetrochemicalsDEEPAKFERT | ₹15,469 Cr | 40.9x | 4.5x | 9.9% | 29.3x |
| Paradeep Phosphates LimitedPARADEEP | ₹15,412 Cr | 15.8x | 1.9x | 2.8% | 25.5x |
| Anupam Rasayan India LimitedANURAS | ₹15,243 Cr | 119.0x | 4.8x | 4.3% | 47.6x |
| India Cements Ltd.INDIACEM | ₹14,502 Cr | — | 1.5x | -3.8% | 80.0x |
| Jain Resource Recycling LimitedJAINREC | ₹14,273 Cr | 56.3x | — | 43.8% | 54.8x |
| Peer median | — | 35.5x | 3.7x | 12.9% | 19.2x |
Year-to-date ROI
RATNAMANI since 1 January, against earlier years.
Historical volatility
RATNAMANI's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 17.0% |
| FY2022 | 16.0% |
| FY2023 | 17.0% |
| FY2024 | 18.0% |
| FY2025 | 17.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹4,876 Cr |
| Costs | |
| Interest | ₹22 Cr |
| Expenses | ₹4,067 Cr |
| Operating profitOperating Profit | ₹809 Cr |
| Other income and charges | |
| Profit before tax | ₹778 Cr |
| Tax | |
| Net profitNet Profit | ₹578 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹4,607 Cr |
| Equity capitalEquity Capital | ₹14 Cr |
| Reserves | ₹3,695 Cr |
| Borrowings | ₹15 Cr |
| Other liabilitiesOther Liabilities | ₹883 Cr |
| AssetsTotal Assets | ₹4,607 Cr |
| Fixed assetsFixed Assets | ₹1,097 Cr |
| Capital work in progressCWIP | ₹148 Cr |
| Investments | ₹328 Cr |
| Other assetsOther Assets | ₹3,034 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹521 Cr |
| Investing cash flowCash from Investing Activity | -₹347 Cr |
| Financing cash flowCash from Financing Activity | -₹160 Cr |
| Change in cashNet Cash Flow | ₹14 Cr |
Learn while you research
Academy chapters picked for Ratnamani Metals & Tubes Ltd and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Stock Market RisksSmall caps carry concentrated, idiosyncratic risk, learn to manage it.6 min read
- 04 Business Cycles & StocksThese cyclical sectors win and lose in different macro phases.6 min read
- 05 Essential Stock RatiosP/E, P/B, EV/EBITDA, what they mean and when to use each.7 min read
- 06 How to Read a Cash-Flow StatementProfit can be manipulated; cash flow rarely lies.7 min read