Ratnamani Metals & Tubes Ltd - Stock Valuation and Financial Performance

BSE: 520111 | NSE: RATNAMANI | Steel & Iron Products | Small Cap

Ratnamani Metals Share Price

3,684 6.55 0.18%
as on 12-Jul'24 16:01

DeciZen - make an informed investing decision on Ratnamani Metals

Overall Rating
Bole Toh

1. Quality

2. Valuation


3. Price Trend

Ratnamani Metals & Tubes stock performance -

mw4me loader
P/E Ratio (SA):
Market Cap:
25,799.5 Cr.
52-wk low:
52-wk high:

Is Ratnamani Metals & Tubes Ltd an attractive stock to invest in?

1. Is Ratnamani Metals & Tubes Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Ratnamani Metals & Tubes Ltd is a good quality company.

2. Is Ratnamani Metals & Tubes Ltd undervalued or overvalued?

The key valuation ratios of Ratnamani Metals & Tubes Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Ratnamani Metals & Tubes Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Ratnamani Metals & Tubes Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

10 Year X-Ray of Ratnamani Metals:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Ratnamani Metals & Tubes Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

ROCE % 19.2%19%17%13.2%11.6%16.4%17.1%13.7%14.3%19.7%-
Value Creation

Growth Parameters

Growth Parameters Colour Code Guide

Sales 1,3531,6871,7181,4121,7672,7552,5862,2983,1394,3704,807
Sales YoY Gr.-24.7%1.8%-17.8%25.2%55.9%-6.1%-11.1%36.6%39.2%-
Adj EPS 21.323.423.820.620.333.341.138.144.571.286.8
YoY Gr.-9.9%1.7%-13.6%-1.3%63.8%23.3%-7.3%17%59.9%-
BVPS (₹) 109.3129.6149169.3186.6217.1243.7283.4320.6385459.6
Adj Net
Cash Flow from Ops. 160146156135-72.9554215545-272317-
Debt/CF from Ops.


CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 13.9%19.9%19.1%39.2%
Adj EPS 14.3%28.5%20.2%59.9%
Share Price 29.2% 41.4% 38.8% 52.2%

Key Financial Parameters

Performance Ratio Colour Code Guide

Return on
Equity %
Op. Profit
Mgn %
Net Profit
Mgn %
Debt to
Working Cap
Cash Conv.

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 20.60%

Sales growth is growing at healthy rate in last 3 years 19.12%

Net Profit is growing at healthy rate in last 3 years 20.15%

Sales growth is good in last 4 quarters at 11.38%

No data to display

Latest Financials - Ratnamani Metals & Tubes Ltd.

Standalone Consolidated
TTM EPS (₹) 86.8 88.9
TTM Sales (₹ Cr.) 4,807 5,059
BVPS (₹.) 459.6 448.1
Reserves (₹ Cr.) 3,207 3,127
P/BV 8.01 8.21
PE 42.39 41.43
From the Market
52 Week Low / High (₹) 2381.15 / 3923.95
All Time Low / High (₹) 0.61 / 3923.95
Market Cap (₹ Cr.) 25,799
Equity (₹ Cr.) 14
Face Value (₹) 2
Industry PE 30.4

Management X-Ray of Ratnamani Metals:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Ratnamani Metals

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
Operating Expenses 1,0961,3881,4321,1541,5022,3492,1591,8992,6443,608
Manufacturing Costs144137162148215274264238320447
Material Costs8391,1191,1308801,1401,9041,6961,4712,1042,891
Employee Cost 799210098109129145141158194
Other Costs 35414029384154496276
Operating Profit 256299286257265406426399495762
Operating Profit Margin (%) 19.0%17.7%16.6%18.2%15.0%14.7%16.5%17.4%15.8%17.4%
Other Income 14251714334259443831
Interest 10966101521232123
Depreciation 46545760616259578076
Exceptional Items 0000000000
Profit Before Tax 214261240205228371406363431694
Tax 71887561761189987108180
Profit After Tax 143173165144152253307276322514
PAT Margin (%) 10.6%10.2%9.6%10.2%8.6%9.2%11.9%12.0%10.3%11.8%
Adjusted EPS (₹)20.424.623.620.621.736.143.939.446.073.3
Dividend Payout Ratio (%)15%15%16%18%18%17%18%24%14%16%

Balance Sheet

(All Figures are in Crores.)

Equity and Liabilities

Shareholders Fund 7659081,0441,1871,3081,5221,7081,9862,2472,699
Share Capital 99999999914
Reserves 7568991,0351,1781,2991,5131,6991,9772,2382,685
Minority Interest0000000000
Long Term Debt16800001761469645
Short Term Debt57221407965441050
Trade Payables152127123116193292264243315328
Others Liabilities 157160136110167173351240303448
Total Liabilities 1,1481,2261,3171,4131,7462,0522,5442,6162,9613,569

Fixed Assets

Gross Block7497844995606166717891,2091,2971,431
Accumulated Depreciation30835953112171231289344422490
Net Fixed Assets442425446448445440500865875941
CWIP 13424838471793717610787
Investments 542024740203155637109244
Trade Receivables278223390425558462370403601967
Cash Equivalents 437611155142173544233
Others Assets6597104741173711544116105
Total Assets 1,1481,2261,3171,4131,7462,0522,5442,6162,9613,569

Cash Flow

(All Figures are in Crores.)
Cash Flow From Operating Activity 160146156135-73554215545-272317
PBT 214261240205228371406363431694
Adjustment 43494053505745487385
Changes in Working Capital -33-77-58-50-279265-130190-653-313
Tax Paid -65-87-66-74-72-139-106-57-122-148
Cash Flow From Investing Activity -109-51-10-10221-360-357-470406-243
Capex -79-84-61-66-70-165-298-129-144-125
Net Investments -432231-4775-203-79-376528-128
Others 1411201116820342210
Cash Flow From Financing Activity -85-74-179-2842-5647-79-135-83
Net Proceeds from Shares 2000000000
Net Proceeds from Borrowing -40-8-9-900200-15-50-50
Interest Paid -6-6-3-4-6-10-13-19-17-17
Dividend Paid -19-25-510-26-28-980-65-65
Others -22-35-116-1474-19-42-44-249
Net Cash Flow -3421-335-10137-95-40-9
ROE (%)20.2620.6216.9212.9412.1717.8819.0414.9415.2320.79
ROCE (%)27.5630.124.4518.7718.4725.9124.0918.6519.7427.34
Asset Turnover Ratio1.321.481.431.081.131.471.
PAT to CFO Conversion(x)1.120.840.950.94-0.482.190.71.97-0.840.62
Working Capital Days
Receivable Days6752621011006758615863
Inventory Days6262647893761011109693
Payable Days55454050494660634841

Ratnamani Metals & Tubes Ltd Stock News

Ratnamani Metals & Tubes Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Ratnamani Metals on 12-Jul-2024 16:01 is ₹3,684.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 12-Jul-2024 16:01 the market cap of Ratnamani Metals stood at ₹25,799.5.
The latest P/E ratio of Ratnamani Metals as of 12-Jul-2024 16:01 is 42.39.
The latest P/B ratio of Ratnamani Metals as of 12-Jul-2024 16:01 is 8.01.
The 52-week high of Ratnamani Metals is ₹3,924 and the 52-week low is ₹2,381.2.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Ratnamani Metals is ₹4,807 ( Cr.) .

About Ratnamani Metals & Tubes Ltd

Since its inception in 1983, Ratnamani Metals & Tubes Ltd. is just not only manufacturing products but also delighting customers through its unmatched quality.

Over the span of time, Ratnamani has grown to become a multi-location, multi-product company providing critical tubing and piping solutions to diverse range of industries & niche markets in core sectors Viz., Oil & Gas, Refinery & Petrochemical, Dairy, Chemical & Fertilizer, Thermal, Solar & Nuclear Power, LNG, Desalination, Defense, Aerospace, Chillers & Cooling system, Pulp & Paper Industry, Automobile etc. Ratnamani has an impressive clientele comprising of major public, private and joint sector companies across the globe, who are leaders in their respective segments.

Business area of the company

The company is engaged in the manufacturing of stainless steel pipes and tubes and carbon steel pipes at Kutch, Indrad and Chhatral in the state of Gujarat. The company caters both domestic and international markets.

Product Lines

  • Stainless Steel
  • Nickel Alloy
  • Titanium Welded Tubes
  • Carbon Steel
  • Coating Solutions
  • Induction Bending


  • 1983: Year of establishment.
  • 1985: Commenced production of stainless steel welded pipes & seamless tubes, as a twin small-scale units.
  • 1991: Established facilities for manufacturing stainless steel electric fusion welded [EFW] pipes.
  • 1993: Listed on Mumbai (BSE) & Ahmedabad Stock Exchange (ASE) 
  • 1995: Commenced production of submerged arc welded [SAW] pipes
  • 1997: Received API 5L Monogramming License
  • 1999: Commenced production of stainless steel tubes for sutomobile exhaust systems.
  • 2000: First Mobile plant, for Narmada Canal Pipe Line Project under Government of Gujarat.
  • 2001: Quality Management System accredited to ISO 9002 Under Lloyd’s Register Quality Assurance (LRQA).  Addition of API 2B Monogramming License
  • 2002: AD 2000 - Merkblatt W 0 Certification Under RWTUV Recognition as a well known Tube / Pipe Maker Under IBR
  • 2003: Pressure Equipment Directive [PED] Certification Under LRQA - Approval from Nuclear Power Corporation of India Limited for the Supply of Critical Instrumentation Seamless Tubes & Primary Piping for Nuclear Reactors - Up-gradation of ISO 9002 Certification to ISO 9001-2000 under LRQA 
  • 2004: Delivered Duplex Stainless Steel Seamless Tubes as per SA 789 / UNS 31803 and UNS 32205 - Officially Implemented Safety, Health & Environment Policy [SHE] - Enhancement of current capacity by establishing new manufacturing facilities at Kutch, Gujarat
  • 2005: Commenced manufacturing of Welded Cold Drawn Duplex Steel Tubes as per SA 789 / UNS 31803 and UNS 32205.
  • 2008: Vendor Approval with Saudi Aramco for Stainless Steel Seamless Tubes and SABIC
  • 2008: Successfully executed the order of Titanium Welded Tubes
  • 2008: Delivered Stainless Steel Welded HP Heater Tubes for 5 x 800MW (first UMPP) power project
  • 2008: Hot Extrusion of Duplex Mother Pipes
  • 2009: 3 LPE coating and internal coating plant installed for pipes from 6' to 64' diameter Pipes 2009 ERW plant upgraded for the size from 16' to 18' diameter
  • 2013: Hot Extrusion of UNS S32750, UNS N08825, UNS N08800 and 904L
  • 2013: Enhanced Stainless Steel Cold Finishing capacity at Indrad works
  • 2013: Received Vendor Approval from Saudi Aramco for Stainless Steel Seamless and Welded Pipes, Titanium Welded Tubes
  • 2013: Supply of 20 KM of DSS Pipes with 3LPP coating
  • 2013: Supply of Stainless Steel Seamless Tubes for Brahmos Aerospace in size 3 mm OD x 0.5 mm THK and above
  • 2013: 146' diameter HSAW Pipes manufactured
  • 2014: Supplied Stainless Steel Seamless Tubes for Aerospace industry to Snecma, France
  • 2014: Successfully executed order for prestigious project of ITER
  • 2014: Hot Extrusion and Cold Finishing of Nickel Alloy UNS N06625 for Refinery and UNS N08800 for Nuclear sector
  • 2014: Received first order from LNG sector for Supply of Stainless Steel Seamless Pipes with painting
  • 2014: Breakthrough in USA market for Supply of Stainless Steel Seamless & Welded Pipes for DOW Chemicals & Exxon Mobil’s Baytown Project
  • 2014: Developed ERW pipes of 18 meters in length at Kutch works and successfully executed 152 km ERW pipe order in 18 meters length for transport of ethane gas for a reputed chemical company in USA
  • 2014: 3 LPE coating and internal coating plant upgraded from 64' to 120' diameter pipes
  • 2014: Developed facility to manufacture 8NPS and 10NPS Diameter pipes in LSAW.
  • 2015: Developed LSAW Pipes Manufacturing facility up-to 32 mm thickness (Earlier Capacity was 25 mm thickness)
  • 2016: Supplied 24 meter long Seamless Tubes in size 12.7 mm OD with Special Chemistry for Heat Tracing application
  • 2017: Supply of Stainless Steel Welded Piggable Pipes
  • 2017: Breakthrough in LNG sector for Supply of Stainless Steel Welded Pipes
  • 2017: Supply of Stainless Steel Seamless Tubes for CNG Sector
  • 2017: Highest Order booking in Company’s History for the Stainless Steel Division
  • 2017: Highest Order booking in Company’s History for the LSAW Division
  • 2017: Highest Order booking in Company’s History for the HSAW Division
  • 2017: Introduced Induction Bending Facility for the pipe size ranging from 4” to 48” diameter
  • 2018: Ratnamani Metals & Tubes Ltd receives domestic order of Rs 82 crore
  • 2019: The company has received a domestic order for supply of welded carbon steel pipes
  • 2020: the Company became an approved supplier of Condenser Tubes in stainless steel as well as in titanium to one of the major international Atomic energy corporation
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