MarketFriction

Ratnamani Metals & Tubes Ltd

NSE RATNAMANI · BSE 520111 · Iron & Steel Products
₹2,619.40 -3.89%
NSE close2026-10-01
52 week range1,936.50 - 3,345.00
Market cap₹19,859 Cr.
P/E45.3
Microcap 250 Price band 20% Delivery 50.3%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,1311,2571,4961,1849711,3161,7151,1521,1921,0661,085972
Expenses8861,0571,2501,0208181,1121,413963980861931809
Operating Profit245200246164154204302188211205154162
OPM %22%16%16%14%16%15%18%16%18%19%14%17%
Other Income11153912201993027134118
Interest111312101477117766
Depreciation242525262627293232333536
Profit before tax221178248140134188276176199177154137
Tax %26%25%22%25%26%29%26%28%22%24%25%22%
Net Profit16413319310699133203127156135116107
EPS in Rs23.3818.9627.4215.0014.3218.7329.5518.8119.4315.6714.9311.72
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,7181,4121,7672,7552,5862,2983,1394,4745,0595,1864,4944,314
Expenses1,4311,1551,5012,3482,1591,8982,6443,6994,1624,3633,7363,582
Operating Profit287257266407427400495776897824758732
OPM %17%18%15%15%16%17%16%17%18%16%17%17%
Other Income1614324159433832736011299
Interest6610152123213145373127
Depreciation576061625957808398108132136
Profit before tax240205228371406363431694828738706668
Tax %31%30%33%32%24%24%25%26%24%27%24%
Net Profit165144152253308276323512625542534514
EPS in Rs23.5820.5521.6536.0843.8739.3746.0372.8388.8577.6168.8561.75
Dividend Payout %16%18%18%17%18%24%20%16%16%18%15%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth10%14%0%-16%
Compounded Profit Growth11%12%-1%-23%
Stock Price CAGR23%14%3%18%
Return on Equity17%17%16%13%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital9999999914141414
Reserves9001,0361,1781,2991,5131,7001,9782,2392,5903,1273,6234,097
Borrowings392307965252207157237153157318
Other Liabilities2792502263604655844225579397261,108957
Total Liabilities1,2271,3191,4141,7472,0532,5452,6172,9623,7804,0204,9035,385
Fixed Assets4254464484454405008658751,1221,1641,3481,611
CWIP4248384717937176107101167190302
Investments202474020315563710913589180644
Other Assets7408018541,2551,2311,5181,0391,8732,4222,6013,1852,828
Total Assets1,2271,3191,4141,7472,0532,5452,6172,9623,7804,0204,9035,385
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity148155134-73554215546-283310511536936
Cash from Investing Activity-52-11-10421-360-358-470418-204-146-388-1,147
Cash from Financing Activity-74-179-2842-5647-79-135-116-193-13059
Net Cash Flow23-353-10137-96-30-1017318-151
Free Cash Flow659469-142389-83417-427173302230452
CFO/OP78%77%81%-0%170%75%151%-33%59%82%87%147%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days48831101156152647082688982
Inventory Days11295141184113185133193156148163174
Days Payable414048625657605546394246
Cash Conversion Cycle119138202237118180137208192177210210
Working Capital Days81118167173789885145123128134148
ROCE %25%19%18%26%24%19%20%27%28%22%18%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters59.77%59.77%59.77%59.77%59.77%59.77%59.77%59.77%59.77%59.77%59.77%59.77%
FIIs12.87%12.77%12.86%12.61%12.70%11.56%11.63%11.28%11.15%11.11%10.60%10.72%
DIIs16.47%16.28%16.14%16.58%16.75%18.74%18.80%19.18%18.79%18.92%19.45%19.13%
Government0.00%0.00%0.00%0.01%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%
Public10.87%11.15%11.22%11.03%10.75%9.92%9.79%9.74%10.26%10.19%10.15%10.37%
No. of Shareholders28,77834,25339,19039,50338,49333,80233,43032,42240,48639,51638,60136,573

Fundamentals

Market Cap₹ 19,859 Cr.
Current Price₹ 2,833
Stock P/E45.3
Book Value₹ 586
ROCE17.9 %
ROE12.6 %
Dividend Yield0.35 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)-16%
Compounded Profit Growth (TTM)-23%
Consolidated figures.
Valuation
Market capRs 18,360 Cr
Enterprise valueRs 18,604 Cr
P/E (TTM)42.41x
Price to book4.47x
Price to sales4.26x
EV / EBITDA22.40x
EV / EBIT26.79x
EV / sales4.31x
Price to cash flow19.62x
Earnings yield2.36%
Dividend yield0.38%
P/E, 3-year average32.27x
P/B, 3-year average4.99x
P/E, 5-year average29.81x
P/B, 5-year average4.78x
Profitability
Operating margin (excl. other income)16.86%
Operating margin (incl. other income)19.34%
EBITDA margin19.25%
Pre-tax margin15.48%
Net profit margin10.03%
Net margin, latest quarter8.46%
ROE12.46%
ROCE17.94%
ROA9.38%
ROE, 3-year average16.73%
ROCE, 3-year average22.76%
ROA, 3-year average12.51%
ROE, 5-year average17.29%
ROCE, 5-year average23.11%
ROA, 5-year average12.85%
ROIC (approx.)12.07%
Tax rate24.33%
Other income / net worth2.71%
Growth
Sales growth (latest year)-13.35%
Profit growth (latest year)-11.29%
Sales CAGR, 3 years0.15%
Sales CAGR, 5 years14.35%
Profit CAGR, 3 years-1.86%
Profit CAGR, 5 years11.82%
Sales growth QoQ-10.43%
Profit growth QoQ-21.49%
Sales growth YoY (latest quarter)-15.63%
Profit growth YoY (latest quarter)-37.67%
Per share
EPS (TTM)Rs 61.76
EPS (latest year)Rs 68.85
EPS (latest quarter)Rs 11.72
EPS, 3-year averageRs 78.44
EPS, 5-year averageRs 75.44
Book value per shareRs 586.46
Sales per shareRs 615.47
Cash flow per shareRs 133.54
Free cash flow per shareRs 64.49
Dividend per share (latest year)Rs 10.00
Dividend per share, 3-year averageRs 12.67
Dividend per share, 5-year averageRs 12.80
Dividends
Dividend payout14.53%
Dividend payout, 3-year average16.11%
Dividend payout, 5-year average17.02%
Efficiency
Asset turnover0.83x
Fixed asset turnover2.79x
Inventory turnover2.54x
Inventory days144 days
Debtor days82 days
Debtors turnover4.43x
Creditor days46 days
Cash conversion cycle210 days
Working capital days148 days
Leverage
Total debtRs 318 Cr
Cash and bankRs 74 Cr
Net debtRs 244 Cr
Debt to equity0.08x
Net debt / EBITDA0.29x
Interest coverage26.20x
Current ratio (filing 2026-03-31)3.92x
Quick ratio (filing 2026-03-31)2.45x
Trade payables (filing 2026-03-31)Rs 340 Cr
Owners' fund to total sources76.34%
Debt to assets5.90%
Cash flow
Cash from Operating Activity (latest year)Rs 936 Cr
Cash from Investing Activity (latest year)Rs -1,147 Cr
Cash from Financing Activity (latest year)Rs 59 Cr
Net Cash Flow (latest year)Rs -151 Cr
Free cash flow (latest year)Rs 452 Cr
FCFE (approx.: FCF + change in debt)Rs 612 Cr
Cash from ops / profit, 5 years0.79x
Sales to cash flow4.80x
Statement figures
Net sales (TTM)Rs 4,314 Cr
Net sales (latest year)Rs 4,494 Cr
Sales (latest quarter)Rs 972 Cr
Operating profit excl. other income (latest year)Rs 758 Cr
Operating profit (latest quarter)Rs 162 Cr
Other income (TTM)Rs 99 Cr
EBITDA (TTM)Rs 831 Cr
PBDT (TTM)Rs 804 Cr
Profit before tax (TTM)Rs 668 Cr
Tax (latest year)Rs 172 Cr
Net profit (TTM)Rs 433 Cr
Net profit (latest year)Rs 483 Cr
Net profit (latest quarter)Rs 82 Cr
Depreciation (TTM)Rs 136 Cr
Depreciation (latest quarter)Rs 36 Cr
Interest (TTM)Rs 27 Cr
Cost of goods sold (latest year)Rs 3,236 Cr
Total expenditure (latest year)Rs 3,736 Cr
Total income (latest year)Rs 4,606 Cr
Share capitalRs 14 Cr
ReservesRs 4,097 Cr
Shareholders' fundsRs 4,111 Cr
Total assetsRs 5,385 Cr
Net blockRs 1,611 Cr
Capital work in progressRs 302 Cr
InvestmentsRs 644 Cr
ReceivablesRs 1,013 Cr
InventoryRs 1,275 Cr
Other liabilitiesRs 957 Cr
Shares outstanding (crore)7.01
Ownership
Promoter holding59.77% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 42.4 is at the 85th percentile of its own 9.4-year range (median 32.2, low 15.9, high 51.2).
P/B 4.47 is at the 42th percentile (median 4.65).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodRATNAMANINifty 50Difference
1 week-7.3%-2.8% -4.5 pts
1 month+0.5%-6.8% +7.3 pts
3 months+4.3%-7.6% +11.9 pts
6 months+19.0%+0.4% +18.6 pts
1 year+4.8%-9.9% +14.7 pts
2 years-28.2%-13.6% -14.6 pts
3 years+0.7%+14.2% -13.5 pts
5 years+80.2%+27.9% +52.3 pts
45 mutual fund schemes hold about ₹3,767 Cr. Over three months 9 bought more and 17 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
SBI Small Cap Fund1.33%565 -5%
Kotak Mid Cap Fund0.70%502 -4%
ICICI Pru Multi Asset Allocation Fund0.30%266 -7%
Kotak Small Cap Fund1.27%249 -4%
HSBC Small Cap Fund1.27%242 -5%
Mirae Asset Focused Fund2.98%201 -1%
ICICI Pru Large & Mid Cap Fund0.60%200 -7%
Mirae Asset Focused Fund2.98%198 -1%
ICICI Pru Infrastructure Fund2.11%180 +1%
DSP Small Cap Fund0.73%159 -8%
HSBC Value Fund0.92%141 -2%
Canara Rob Small Cap Fund0.85%124 -4%
ICICI Pru Energy Opportunities Fund1.00%83 +2%
Kotak Balanced Advantage Fund0.44%77 +1%
ICICI Pru Flexi Cap Fund0.24%61 -12%
Tata Business Cycle Fund2.27%59 +48%
UTI Small Cap Fund0.99%52 +48%
ICICI Pru Manufacturing Fund0.71%51 -3%
Mahindra Manulife Small Cap Fund0.83%45 -9%
HSBC Multi Cap Fund0.70%42 -8%
Kotak Infra & Eco Reform Fund1.53%38 -1%
Kotak Infra & Eco Reform Fund1.53%37 -1%
Tata Infrastructure Fund1.51%31 +5%
Tata Infrastructure Fund1.51%31 +5%
Kotak Pioneer Fund0.55%24 -8%

Red flags

F-score 5 of 8
explainDebt up, profit down Borrowings up 102% while net profit fell in 2026
lookAuditor change Auditor change 2026-05-15: Ratnamani Metals & Tubes Limited has informed the Exchange regarding Change in Auditors of the company.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2025-06-25Babulal M. Sanghvi Jointly with ShPromotersother166,500Inter-se-Transfer
2025-06-25Jayanti M. Sanghvi Jointly with ShPromotersother50,000Inter-se-Transfer
2025-06-25Shantilal Mishrimal Sanghvi JointlPromotersother41,500Inter-se-Transfer
2025-06-25Prakash M. Sanghvi Jointly with RaPromotersother75,000Inter-se-Transfer
2024-12-09Prashant J. Sanghvi Jointly with SPromotersother1,165,110Inter-se-Transfer
2024-12-09Jigar Prakash Sanghvi Jointly withPromotersother1,134,480Inter-se-Transfer
2024-12-09Shantaben Babulal Sanghvi Jointly Promotersother962,758Inter-se-Transfer
2024-12-09Prakash M. Sanghvi Jointly with RePromotersother9,832,606Inter-se-Transfer
2024-12-09Jayanti M. Sanghvi Jointly with ShPromotersother4,919,761Inter-se-Transfer
2024-12-09Shantilal Mishrimal Sanghvi JointlPromotersother3,027,770Inter-se-Transfer
2024-12-09Reshmidevi P. Sanghvi Jointly withPromotersother2,345,625Inter-se-Transfer
2024-12-09Pavan Sanghvi Jointly with Vimla SPromotersother2,242,775Inter-se-Transfer
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹972 Cr -15.6% vs Jun 2025. Net profit ₹107 Cr -15.7%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-08-11Dividend - Rs 10 Per Share
2025-09-02Dividend - Rs 14 Per Share
2024-08-20Annual General Meeting/Dividend - Rs 14 Per Share
2023-07-27Annual General Meeting/Dividend - Rs 12 Per Share
2022-08-01Annual General Meeting/Dividend - Rs 9.33 Per Share
2022-06-30Bonus 1:20.6667
2021-09-17 Annual General Meeting/Dividend - Rs 14 Per Share
2020-08-19 Annual General Meeting
2020-03-17 Interim Dividend - Rs 12 Per Share
2019-08-01 Dividend - Rs 9 Per Share
2018-08-01 Annual General Meeting/Dividend- Rs 6 Per Share (Purpose Revised)
2017-09-04 Annual General Meeting/Dividend - Rs 5.50 Per Share
2016-08-12 Annual General Meeting
2016-03-17 Interim Dividend - Rs 5.50/- Per Share (Purpose Revised)
2015-09-15 Annual General Meeting/ Dividend - Rs 5.50/- Per Share
2014-09-04Annual General Meeting / Dividend - Rs 4.50/- Per Share
2013-08-01Annual General Meeting / Dividend - Rs 4/- Per Share
2012-09-13Annual General Meeting And Dividend Rs.3/- Per Share
2011-08-04Annual General Meeting And Dividend Rs.2.50 Per Share
2010-08-18Annual General Meeting And Dividend Rs.2.20 Per Share
2009-09-03Agm/Div-Fin 1.40+Spl 0.40
2008-11-06Fv Split Rs.10/- To Rs.2/0.2000
2008-09-11Agm/Dividend-70%
2007-08-23Agm/Div-Rs.5/- Per Sh
2006-08-31Agm/Div-Rs.2.50/- Per Sh
DateTypeWhat it says
2026-09-10Credit RatingCredit Rating
2026-08-31UpdatesESG rating/score by CRISIL ESG Ratings & Analytics Limited .
2026-08-24Order winBagging/Receiving of orders/contracts
2026-08-22Shareholder meetingWith copy of minutes of Annual General Meeting held on August 18, 2026
2026-08-19Shareholder meetingVoting results.
2026-08-18Shareholder meetingProceedings of Annual General Meeting held on August 18, 2026
2026-08-07Investor PresentationInvestor Presentation
2026-08-07Board meeting outcomeRatnamani Metals & Tubes Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-21Shareholder meetingNotice of Annual General Meeting to be held on August 18, 2026
2026-06-23UpdatesIntimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the subscription to shares of Ratna...
2026-06-17Record DateRecord date for the purpose of Dividend & Meeting is 11-Aug-2026.
2026-06-17General UpdatesCut-off date / record date for remote e-voting for the ensuing 42nd Annual General Meeting.
2026-06-10UpdatesCommunication to the Shareholders of the Company for Deduction of Tax at Source (TDS) on Dividend payment during the Financial Year 2026-27 and Updati...
2026-06-05Disclosure under SEBI TakeovShanti M Sanghvi has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial ...
2026-05-25Disclosure under SEBI TakeovJAYANTI M. SANGHVI has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantia...
2026-05-22Disclosure under SEBI TakeovM. N. SANGHVI FAMILY TRUST      has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of Indi...
2026-05-22Disclosure under SEBI TakeovPRAKASH M. SANGHVI has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantia...
2026-05-20Concall / analyst meetTranscript
2026-05-18Concall / analyst meetLink of Recording
2026-05-16Investor PresentationInvestor Presentation
2026-05-15Change in AuditorsChange in Auditors of the company.
2026-05-15Record DateRecord date for the purpose of Dividend is 11-Aug-2026.
2026-05-15DividendBoard of Directors at its meeting held on May 15, 2026, recommended Final Dividend of Rs. 10 per equity share.
2026-05-15Board meeting outcomeRatnamani Metals & Tubes Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-05-13Concall / analyst meetSchedule of meet
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Ratnamani Metals & Tubes Ltd?

Ratnamani Metals & Tubes Ltd (RATNAMANI) has a market capitalisation of Rs 19,859 Cr. at the 2026-10-01 close.

What is the P/E ratio of Ratnamani Metals & Tubes Ltd?

Ratnamani Metals & Tubes Ltd trades at a P/E of 45.3 on trailing twelve-month profit, at the 2026-10-01 close.

What were Ratnamani Metals & Tubes Ltd's latest quarterly results?

In the Jun 2026 quarter, Ratnamani Metals & Tubes Ltd sales was Rs 972 Cr (-15.6% vs Jun 2025) and net profit was Rs 107 Cr.

What is the 52-week high and low of Ratnamani Metals & Tubes Ltd?

The 52-week high is Rs 3,345.00 and the 52-week low is Rs 1,936.50.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03