Ratnamani Metals & Tubes Ltd (RATNAMANI) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Ratnamani Metals & Tubes has upheld a distinguished position at the forefront of India's steel tube and pipe industry. Since its inception in 1983, the company is just not only manufacturing products but also delighting customers through its unmatched quality. The company supplies tubes and pipes in accordance with appropriate International Standards as well as Customer Specifications in a large variety of steel grades and dimensions. Client specific requirements on technical parameters are offered on request. The company ensures high degree of flexibility in production-planning to meet Customer’s urgent delivery requirements. The company's unflinching commitment to quality and services has ensured client loyalty.

Over the span of time, the company 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. The company has an impressive clientele comprising of major public, private and joint sector companies across the globe, who are leaders in their respective segments. The company has deployed proven and well accepted technologies and is continuously upgrading and modifying the production and testing facilities so as to keep pace with innovations / improvements in the field. 

Business area of the company

Ratnamani Metals & Tubes is engaged in the manufacturing of stainless steel pipes and tubes and carbon steel pipes. The company’s state-of-the-art manufacturing facilities produce high-quality tubes and pipes that conform to international standards. The company caters both domestic and international markets.

Product Lines

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

Milestones

1985-1999

• The company commenced production of Stainless Steel Welded Pipes & Seamless Tubes, as twin smallscale units.
• Established facilities for manufacturing Stainless Steel Electric Fusion Welded (EFW) Pipes.
• Listed on the Bombay Stock Exchange (BSE) & Ahmedabad Stock Exchange (ASE).
• Commenced production of Submerged Arc Welded (SAW) Pipes.
• Received API 5L Monogramming License.
• Commenced production of Stainless Steel Tubes for Automobile Exhaust System.

2000-2014

• Installed the first mobile plant for the Narmada Canal Pipeline Project under the Government of Gujarat.
• Achieved Quality Management System accredited to ISO 9002 under Lloyd’s Register Quality Assurance (LRQA).
• Received recognition as a well-known Tube/Pipe Maker under IBR.
• Received Pressure Equipment Directive (PED) certification.
• Received approval from Nuclear Power Corporation of India Limited for supplying Critical Instrumentation Seamless Tubes for Primary Piping of Nuclear Reactors.
• Upgradation of ISO 9002 Quality System to ISO 9001:2000.
• Implemented Environment, Health & Safety (EHS) policy throughout the organisation.
• Enhancement of current capacity by establishing new manufacturing facility - the New Unit at Kutch, Gujarat.
• Commenced manufacturing of Welded Cold Drawn Duplex Steel Tubes as per SA 789/UNS31803 and UNS32205.
• Received Vendor Approval from Saudi Aramco and SABIC for Stainless Steel Seamless Tubes.
• Enhanced Stainless Steel Cold Finishing capacity at the Indrad facility.
• Received vendor approval from Saudi Aramco for Stainless Steel Seamless and Welded Pipes and Titanium Welded Tubes.
• Developed a facility to manufacture 8NPS and 10NPS diameter pipes in LSAW.
• Received the first order from the LNG sector to supply stainless steel seamless pipes with coating.
• Successfully executed an order for a prestigious project of ITER.

2015-2019

• Upgraded LSAW Pipe manufacturing facility up to 32 mm thickness (earlier capacity was 25 mm thickness).
• Received the highest order bookings in the Company’s history for the Stainless-Steel division, LSAW division, and HSAW division.
• Initiated work on setting up a hot extrusion facility of 20,000 tonnes for large-diameter seamless stainless-steel pipes.
• RMTL announced the expansion of its LSAW capacity from 40ktpa to 120ktpa, driven by strong demand.

2020-2025

• Installed & commissioned a state-of-the-art Hot Extrusion press of 4,500 MT force to produce stainless steel/Nickel alloy seamless pipes up to 10-inch diameter.
• Installed & commissioned a state-of-the-art L-SAW Plant to produce Line Pipe. An additional finishing line was added for carbon steel ERW pipes.
• Achieved the highest order bookings ever in the Stainless Steel division and the CS Pipes Division.
• Booked the single largest order of Oil & Gas in the history of Ratnamani from a domestic pipeline project.
• Received approval for the new LSAW facility for manufacturing API X-70 Grade Line Pipes.
• Received approval for Hot Induction Bends from ONGC, opening a new market segment.
• Received international approvals from NEOM, Saudi Arabia & National Gas Company, Trinidad and Tobago, for Ratnamani Kutch Carbon Steel facility.
• Received KIWA certification virtual audit successfully.
• Achieved the highest ever turnover with highest ever profit.
• Acquisition of a subsidiary Company engaged in high-precision forged and turned bearing rings, gear blanks and other similar bearing components.
• Largest ever order of Carbon Steel Coated Pipes for water supply.
• Commissioning of Solar Power project of 15 MW for Captive use.
• NADCAP approval for heat treatment & NDT and IATF approvals in the Stainless Steel division.
• Received BIS Certificate for Stainless Steel Pipes and Tubes.
• Joint venture agreement with Technoenergy AG, Switzerland for setting up manufacturing facilities for production of various high end application products, through a subsidiary company in India.
• Setting up a marketing office in Abu Dhabi, UAE, through a subsidiary company.
• Setting up of an exclusive trading house to import and distribute various categories of stainless-steel products in Europe, manufactured by the Company, through a subsidiary company.
• First in India, commercial production of a hydrogen-compliant pipeline.
• Highest ever export contribution in the total revenue in the FY25 and highest order book for exports as on April 1, 2025.
• First order for Sour Service (transporting Sour Crude).
• Joint Venture with Tamimi group, a local partner for setting up a manufacturing facility for seamless products in the Kingdom of Saudi Arabia to serve KSA / GCC Customers.