Ratnamani Metals & Tubes Ltd
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.
Valuation
Profitability
Returns
Solvency
AI Summary
Indian StockRule-based from financial data. Not advice.
Historically, Apr has averaged the highest return (+7.3%); Dec the lowest (-5.7%).
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -5.0%Negative MonthJan 2026: -4.98% | +8.5%Positive MonthFeb 2026: +8.54% | -10.4%Negative MonthMar 2026: -10.40% | +20.1%Positive MonthApr 2026: +20.10% | -2.9%Negative MonthMay 2026: -2.87% | -2.1%Negative MonthJun 2026: -2.13% | -6.1%*Negative MonthJul 2026: -6.13% | β | β | β | β | β |
| 2025 | -10.2%Negative MonthJan 2025: -10.23% | -14.4%Negative MonthFeb 2025: -14.40% | +5.7%Positive MonthMar 2025: +5.74% | +3.9%Positive MonthApr 2025: +3.93% | +5.8%Positive MonthMay 2025: +5.79% | +3.1%Positive MonthJun 2025: +3.11% | -9.4%Negative MonthJul 2025: -9.35% | -9.9%Negative MonthAug 2025: -9.86% | +0.8%Neutral MonthSep 2025: +0.85% | +0.7%Neutral MonthOct 2025: +0.73% | -2.2%Negative MonthNov 2025: -2.21% | +0.3%Neutral MonthDec 2025: +0.29% |
| 2024 | +6.4%Positive MonthJan 2024: +6.41% | -14.6%Negative MonthFeb 2024: -14.64% | -8.7%Negative MonthMar 2024: -8.70% | +13.1%Positive MonthApr 2024: +13.06% | +7.8%Positive MonthMay 2024: +7.80% | +6.2%Positive MonthJun 2024: +6.24% | +0.3%Neutral MonthJul 2024: +0.27% | +1.8%Neutral MonthAug 2024: +1.82% | -0.5%Neutral MonthSep 2024: -0.47% | +0.1%Neutral MonthOct 2024: +0.10% | -6.2%Negative MonthNov 2024: -6.25% | -7.8%Negative MonthDec 2024: -7.78% |
| 2023 | +13.8%Positive MonthJan 2023: +13.84% | -1.5%Neutral MonthFeb 2023: -1.54% | -9.7%Negative MonthMar 2023: -9.67% | +8.9%Positive MonthApr 2023: +8.87% | +7.7%Positive MonthMay 2023: +7.72% | -1.9%Neutral MonthJun 2023: -1.91% | +18.2%Positive MonthJul 2023: +18.17% | -1.4%Neutral MonthAug 2023: -1.41% | -1.8%Neutral MonthSep 2023: -1.80% | +6.4%Positive MonthOct 2023: +6.42% | +34.6%Positive MonthNov 2023: +34.59% | -9.7%Negative MonthDec 2023: -9.69% |
| 2022 | -2.2%Negative MonthJan 2022: -2.23% | +17.4%Positive MonthFeb 2022: +17.44% | +16.3%Positive MonthMar 2022: +16.32% | -9.7%Negative MonthApr 2022: -9.65% | +12.6%Positive MonthMay 2022: +12.59% | -6.4%Negative MonthJun 2022: -6.38% | +2.9%Positive MonthJul 2022: +2.94% | +9.7%Positive MonthAug 2022: +9.75% | +1.5%Neutral MonthSep 2022: +1.46% | +9.0%Positive MonthOct 2022: +9.00% | -6.0%Negative MonthNov 2022: -5.97% | +0.7%Neutral MonthDec 2022: +0.73% |
| 2021 | β | β | β | β | β | +5.9%Positive MonthJun 2021: +5.89% | +5.3%Positive MonthJul 2021: +5.32% | +0.4%Neutral MonthAug 2021: +0.40% | +0.5%Neutral MonthSep 2021: +0.49% | -1.5%Neutral MonthOct 2021: -1.47% | +2.8%Positive MonthNov 2021: +2.83% | -12.1%Negative MonthDec 2021: -12.07% |
| AvgΒ±SD |
Each cell is the percentage change in closing price from the end of the prior month to the end of this month. The bottom row shows the average return for that calendar month across the selected years, plus or minus one standard deviation β the range that historically contained roughly two-thirds of outcomes. Past monthly patterns are not a forecast of future returns.
This aggregates every month by calendar position β all Januaries together, all Februaries together, and so on β to show whether a given month has leaned positive or negative historically. βSimpleβ counts each month as +1 or β1. βWeightedβ gives larger moves more influence: +2 above +10%, β2 below β10%. With only 6 years of history for this asset, each monthβs score reflects a small number of observations β read it as a historical tendency, not a reliable seasonal pattern.
This tracks a running tally across the assetβs full price history: each month adds or subtracts based on whether it was positive or negative. A rising line means more positive months than negative so far; a flattening or falling line means recent months have leaned negative. This measures historical month-to-month consistency, not expected future performance.
Year-to-date return is calculated by dividing each dayβs closing price by the price on January 1st of that year (or the assetβs first available price if it began trading mid-year). The custom average line shows the mean YTD return at each calendar day across the selected years. The standard deviation band shows the range within which returns have historically fallen β at 1 SD, roughly two-thirds of years; at 2 SD, roughly 95%. Past year-to-date patterns do not predict future returns. The average and standard deviation band are computed from the year set chosen in βAverage fromβ, which is independent of which year lines are displayed. The current in-progress year is excluded from these calculations, since a partial year is not comparable to complete ones. Election-cycle groupings follow the US presidential calendar and are offered only for US and crypto assets.
Historical Performance
Revenue, profitability, and cash flow trends (βΉ Crores)
Revenue (10Y)
Operating Income (10Y)
Net Profit (10Y)
Operating Margin % (10Y)
Dividend Payout % (10Y)
Free Cash Flow (10Y)
Growth Summary
Latest fiscal year: Mar 2025
Historical Growth
Year-by-year revenue, profitability, and cash flow (βΉ Crores, last 10 years)
| Year | Revenue | Op. Income | Net Profit | CFO | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|---|
| Mar 2025 | βΉ4.88 K Cr | β | βΉ578.00 Cr | β | β | 15.6% | 1.4% | -5.1% |
| Mar 2024 | βΉ4.81 K Cr | β | βΉ609.00 Cr | β | β | 18.9% | 10.0% | 18.5% |
| Mar 2023 | βΉ4.37 K Cr | β | βΉ514.00 Cr | β | β | 19.0% | 39.2% | 59.6% |
| Mar 2022 | βΉ3.14 K Cr | β | βΉ322.00 Cr | β | β | 14.3% | 36.6% | 16.7% |
| Mar 2021 | βΉ2.30 K Cr | β | βΉ276.00 Cr | β | β | 13.9% | -11.1% | -10.4% |
| Mar 2020 | βΉ2.59 K Cr | β | βΉ308.00 Cr | β | β | 18.0% | -6.1% | 21.7% |
| Mar 2019 | βΉ2.75 K Cr | β | βΉ253.00 Cr | β | β | 16.6% | 55.9% | 66.4% |
| Mar 2018 | βΉ1.77 K Cr | β | βΉ152.00 Cr | β | β | 11.6% | 25.1% | 5.6% |
| Mar 2017 | βΉ1.41 K Cr | β | βΉ144.00 Cr | β | β | 12.1% | -17.8% | -12.7% |
| Mar 2016 | βΉ1.72 K Cr | β | βΉ165.00 Cr | β | β | 15.8% | 1.8% | -4.6% |
Financial Statements
Income statement, balance sheet, and cash flow (βΉ Crores, as reported)
Consolidated Figures in USD Millions.
| Unnamed: 0 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue / Net Sales | 1,353 | 1,687 | 1,718 | 1,412 | 1,767 | 2,755 | 2,586 | 2,298 | 3,139 | 4,370 | 4,807 | 4,876 | 4,870 |
| Total Expenses | 1,094 | 1,388 | 1,431 | 1,154 | 1,501 | 2,348 | 2,159 | 1,898 | 2,644 | 3,608 | 3,933 | 4,067 | 4,033 |
| EBIT / Operating Profit | 259 | 299 | 287 | 257 | 266 | 407 | 426 | 400 | 495 | 762 | 874 | 809 | 837 |
| OPM % | 19% | 18% | 17% | 18% | 15% | 15% | 16% | 17% | 16% | 17% | 18% | 17% | 17% |
| Other Income | 11 | 25 | 16 | 14 | 32 | 41 | 59 | 43 | 38 | 31 | 46 | 83 | 120 |
| Finance Costs | 10 | 9 | 6 | 6 | 10 | 15 | 21 | 23 | 21 | 23 | 27 | 22 | 15 |
| Depreciation & Amortisation | 46 | 54 | 57 | 60 | 61 | 62 | 59 | 57 | 80 | 76 | 84 | 92 | 101 |
| Profit Before Tax | 214 | 261 | 240 | 205 | 228 | 371 | 406 | 363 | 431 | 694 | 810 | 778 | 841 |
| Tax % | 33% | 34% | 31% | 30% | 33% | 32% | 24% | 24% | 25% | 26% | 25% | 26% | - |
| Net Profit / PAT | 143 | 173 | 165 | 144 | 152 | 253 | 308 | 276 | 322 | 514 | 609 | 578 | 623 |
| EPS (βΉ) | 20.40 | 24.61 | 23.57 | 20.58 | 21.65 | 36.08 | 43.87 | 39.36 | 45.99 | 73.34 | 86.83 | 82.46 | 88.95 |
| Dividend Payout % | 15% | 15% | 16% | 18% | 18% | 17% | 18% | 24% | 20% | 16% | 16% | 17% | - |
Peer Comparison
Materials sector peers, ranked by market cap
| Company | Market Cap | Revenue | P/E | P/B | EV/EBITDA | Rev G 1Y |
|---|---|---|---|---|---|---|
| Ratnamani Metals & Tubes Ltdthis co. | βΉ15.32 K Cr | βΉ4.88 K Cr | 24.60 | 3.96 | 16.17 | 1.4% |
| UltraTech Cement Ltd | βΉ3.55 L Cr | βΉ71.89 K Cr | 48.60 | 5.02 | 27.23 | 4.7% |
| JSW Steel Limited | βΉ2.88 L Cr | βΉ1.28 L Cr | 38.00 | 3.45 | 14.23 | -5.5% |
| Asian Paints Ltd. | βΉ2.77 L Cr | βΉ29.55 K Cr | 69.60 | 14.50 | 35.04 | -5.4% |
| Hindustan Zinc Ltd. | βΉ2.66 L Cr | βΉ33.97 K Cr | 25.50 | 19.57 | 18.58 | 17.4% |
| Coal India Limited | βΉ2.64 L Cr | βΉ1.59 K Cr | 12.40 | 13.24 | 16.33 | 5.1% |
| Vedanta Limited | βΉ2.49 L Cr | βΉ74.30 K Cr | 26.50 | 3.37 | 12.82 | 5.0% |
| Industry Average | β | βΉ10.75 K Cr | 47.54 | 5.23 | 30.19 | 121.8% |
