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Ratnamani Metals & Tubes Limited (RATNAMANI.NS)

INR2,603.60 +16.90 (+0.65%)
IN NSE Basic Materials Steel
Address The First, A & B Wing 380015
Ahmedabad, IN
CEO Manoj Prakash Sanghvi
Website ratnamani.com
IPO 2006-05-09
ISIN INE703B01027

Explore sections of this company profile

Also trades on Bombay Stock Exchange · RATNAMANI.BO (INR) National Stock Exchange of India · RATNAMANI.NS (INR)
Description

Ratnamani Metals & Tubes Limited operates as a manufacturer and international supplier of diverse stainless steel and carbon steel piping and tubing solutions. The company's stainless steel offerings encompass seamless and welded pipes and tubes, various heat exchanger tubes (including specialized nickel alloy and titanium variants), and precision instrumentation seamless tubes. For carbon steel, they produce pipes using advanced techniques like high-frequency electric resistance welding and submerged arc welding. In addition to core manufacturing, Ratnamani provides comprehensive coating services, including external options such as three-layer polyethylene/polypropylene and dual-layer fusion bonded epoxy, alongside internal applications like food-grade epoxy, polyurethane, coal tar epoxy, and cement lining. They also offer induction bending services and contribute to power generation through windmills. Their products and services are crucial for a broad spectrum of industries, including oil and gas, thermal power, chemicals, fertilizers, sugar, paper, automotive, aeronautics, refineries, nuclear power, petrochemicals, water distribution, food and dairy, pharmaceuticals, defense, infrastructure, shipbuilding, pumping stations, and space. Founded in 1983, the company is headquartered in Ahmedabad, India.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
INR2,603.60 +16.90 (+0.65%)
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Volume Profile
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Liquidity & share structure
Average Volume
49.1K
Beta
0.30
Float Shares
21.05M
Free Float %
30.0%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-6.91% -5.98% +9.25% +24.84% +10.12% +12.96% -5.54% +14.29% +111.45% +691.81% +4,484.04%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
2,603.60
DCF (Unlevered) 1,038.40 -60.1%
DCF (Levered) 4,496.81 +72.7%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 80% Bullish
Rating 2026-05 Change
Strong Buy 0 0
Buy 4 0
Hold 1 0
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
11.43
Safe zone
Piotroski F-Score
7 / 9
Strong
MOAT Score
5 / 10
Developing
Composite Rating
C
Overall Score
2 / 5
Medium
DCF Score
4 / 5
High
ROE Score
1 / 5
Low
ROA Score
1 / 5
Low
D/E Score
1 / 5
Low
P/E Score
2 / 5
Medium
P/Book Score
1 / 5
Low
Operational MOAT
✗ Below peers
  • ✗
    Revenue growth Steel: +1.2%
    -12.7% Q1'26: -35.2% (vs Q1'25)
  • ✗
    EPS growth Steel: +17.4%
    -10.9% Q1'26: -48.5% (vs Q1'25)
  • ✓
    FCF margin FCF growth · Steel: +44.2%
    +16.1% ★ Q1'26: +46.5% (vs Q1'25)
  • ✗
    EBIT margin Steel: +5.8%
    +13.9% ★ Q1'26: +11.0% (vs Q1'25)
  • ✗
    ROIC Steel: +4.3%
    +12.4% ★ Q1'26: +9.4% (vs Q1'25)
  • ✓
    Share dilution Steel: +0.0%
    -0.4% ★ Q1'26: -1.9% (vs Q1'25)
  • ✓
    Debt / EBITDA Net debt/EBITDA · Steel: 0.57×
    0.42× ★ Q1'26: 0.52× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
▶ WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.74) × ERP
WACC = 98% × Ke + 2% × Kd (9.9%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
—
Intrinsic value (base): 1,038.40 Current price: 2,603.60
Enterprise Value: — Equity Value: — Terminal Value: — TV as % of EV: —

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Mar 2007
actual 		Mar 2008
actual 		Mar 2011
actual 		Mar 2012
actual 		Mar 2013
actual 		Mar 2014
actual 		Mar 2015
actual 		Mar 2016
actual 		Mar 2017
actual 		Mar 2018
actual 		Mar 2019
actual 		Mar 2020
actual 		Mar 2021
actual 		Mar 2022
actual 		Mar 2023
actual 		Mar 2024
actual 		Mar 2025
actual 		Mar 2026
5 Rev. Ana.
4 EPS Ana. 		Mar 2027
5 Rev. Ana.
5 EPS Ana. 		Mar 2028
5 Rev. Ana.
5 EPS Ana.
Revenue
3.16B
est: 5.81B (-45.6%)
8.34B
est: 8.45B (-1.4%)
8.14B
est: 9.57B (-14.9%)
11.93B
est: 12.11B (-1.4%)
11.54B
est: 11.93B (-3.3%)
12.74B
est: 12.63B (+0.9%)
16.22B
est: 17.22B (-5.8%)
17.18B
est: 16.16B (+6.3%)
14.13B
est: 15.48B (-8.7%)
17.67B
est: 17.14B (+3.1%)
27.55B
est: 26.92B (+2.3%)
25.86B
est: 26.67B (-3.0%)
22.89B
est: 22.36B (+2.4%)
31.22B
est: 31.16B (+0.2%)
44.61B
est: 40.07B (+11.3%)
50.28B
est: 50.61B (-0.7%)
51.46B
est: 50.27B (+2.4%)
50.09B
46.93B – 52.21B
-0.4% YoY
58.09B
51.55B – 62.08B
+16.0% YoY
65.69B
57.68B – 69.02B
+13.1% YoY
EBITDA
717.98M
est: 1.03B (-30.4%)
1.93B
est: 1.44B (+33.5%)
1.71B
est: 1.63B (+4.8%)
1.95B
est: 1.87B (+4.0%)
2.53B
est: 1.67B (+51.1%)
2.66B
est: 2.65B (+0.3%)
3.22B
est: 3.06B (+5.4%)
3.00B
est: 2.87B (+4.5%)
2.69B
est: 2.77B (-2.8%)
2.95B
est: 3.09B (-4.6%)
4.42B
est: 4.87B (-9.2%)
4.80B
est: 4.64B (+3.6%)
4.40B
est: 4.22B (+4.3%)
5.28B
est: 5.56B (-4.9%)
7.98B
est: 6.79B (+17.6%)
9.56B
est: 8.46B (+12.9%)
8.70B
est: 9.06B (-3.9%)
9.02B
8.45B – 9.40B
-0.5% YoY
10.46B
9.28B – 11.17B
+16.0% YoY
11.82B
10.38B – 12.42B
+13.1% YoY
EBIT
562.09M
est: 904.67M (-37.9%)
1.69B
est: 1.64B (+2.6%)
1.31B
est: 1.86B (-29.6%)
1.52B
est: 1.47B (+3.9%)
2.10B
est: 1.52B (+38.1%)
2.20B
est: 2.11B (+4.4%)
2.68B
est: 2.68B (-0.1%)
2.43B
est: 2.52B (-3.4%)
2.09B
est: 2.43B (-13.8%)
2.34B
est: 2.23B (+5.3%)
3.80B
est: 3.23B (+17.6%)
4.22B
est: 3.47B (+21.8%)
3.84B
est: 3.02B (+27.2%)
4.48B
est: 3.97B (+13.0%)
7.15B
est: 4.84B (+47.6%)
8.58B
est: 6.04B (+42.1%)
7.63B
est: 7.96B (-4.1%)
7.92B
7.42B – 8.25B
-0.5% YoY
9.18B
8.15B – 9.81B
+16.0% YoY
10.38B
9.12B – 10.91B
+13.1% YoY
Net Income
335.43M
est: 989.31M (-66.1%)
900.25M
est: 934.41M (-3.7%)
821.14M
est: 1.06B (-22.4%)
1.11B
est: 1.04B (+7.3%)
1.36B
est: 929.28M (+46.3%)
1.43B
est: 1.44B (-0.8%)
1.73B
est: 1.82B (-4.7%)
1.65B
est: 1.59B (+4.2%)
1.44B
est: 1.61B (-10.3%)
1.52B
est: 1.62B (-6.6%)
2.53B
est: 2.36B (+7.0%)
3.08B
est: 2.54B (+21.3%)
2.76B
est: 2.51B (+10.1%)
3.23B
est: 3.30B (-2.1%)
5.10B
est: 4.03B (+26.8%)
6.23B
est: 5.02B (+24.0%)
5.44B
est: 5.43B (+0.3%)
6.11B
5.54B – 6.37B
+12.5% YoY
6.69B
6.34B – 7.23B
+9.5% YoY
7.61B
7.35B – 7.93B
+13.8% YoY
SGA
277.30M
est: 277.26M (+0.0%)
368.42M
est: 1.19B (-69.1%)
293.53M
est: 1.35B (-78.2%)
474.60M
est: 1.16B (-59.1%)
1.10B
est: 1.37B (-20.3%)
1.44B
est: 1.23B (+17.3%)
927.22M
est: 822.20M (+12.8%)
1.01B
est: 771.80M (+31.2%)
1.00B
est: 744.13M (+34.6%)
1.11B
est: 2.28B (-51.2%)
1.31B
est: 4.09B (-67.9%)
1.48B
est: 3.23B (-54.0%)
1.45B
est: 2.65B (-45.3%)
1.62B
est: 3.48B (-53.6%)
2.12B
est: 4.25B (-50.1%)
2.61B
est: 5.31B (-50.7%)
3.18B
est: 2.78B (+14.3%)
2.77B
2.59B – 2.89B
-0.5% YoY
3.21B
2.85B – 3.43B
+16.0% YoY
3.63B
3.19B – 3.82B
+13.1% YoY
EPS
4.97
est: 14.05 (-64.6%)
13.34
est: 21.67 (-38.5%)
11.99
est: 19.04 (-37.0%)
16.01
est: 20.34 (-21.3%)
19.53
est: 29.59 (-34.0%)
20.49
est: 27.82 (-26.3%)
24.76
est: 25.86 (-4.3%)
23.58
est: 22.52 (+4.7%)
20.55
est: 22.61 (-9.1%)
21.65
est: 21.54 (+0.5%)
36.08
est: 34.85 (+3.5%)
43.88
est: 42.84 (+2.4%)
39.38
est: 33.40 (+17.9%)
46.03
est: 46.67 (-1.4%)
72.83
est: 64.60 (+12.7%)
88.85
est: 93.13 (-4.6%)
77.27
est: 81.38 (-5.1%)
86.70
78.64 – 90.53
+6.5% YoY
94.93
90.08 – 102.68
+9.5% YoY
108.05
104.36 – 112.58
+13.8% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-15 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-05-14 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-05-13 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-05-12 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-05-11 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-05-08 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-05-07 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-05-06 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-05-05 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-05-04 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-04-30 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-04-29 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-04-28 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-04-27 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-04-24 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-04-23 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-04-22 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-04-21 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-04-20 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-04-17 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-04-16 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
6.44B
OE per share TTM
91.64
Owner's Yield
3.41%
Maintenance CapEx ratio
120.48%
Maint CapEx / Avg PPE
32.1%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
—
Total invested
—
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

ETF Ownership

Top ETFs holding this stock Held by 13 ETFs in our universe
# ETF Weight Est. AUM exposure TER
1 Vanguard FTSE All-World ex-US Small-Cap ETF VSS 0.01% 1.89M 0.06%
2 Vanguard FTSE Emerging Markets Shares ETF VGE.AX 0.00% 62.2K 0.48%
3 Vanguard FTSE Emerging Markets All Cap Index ETF VEE.TO 0.00% 140.3K 0.26%
4 Vanguard FTSE Emerging Markets ETF VWO 0.00% 6.92M 0.06%
5 Vanguard Total International Stock ETF VXUS 0.00% 7.75M 0.05%
6 Vanguard Total World Stock ETF VT 0.00% 461.1K 0.06%
7 Vanguard FTSE Global All Cap ex Canada Index ETF VXC.TO 0.00% 11.1K 0.22%
8 Vanguard All-Equity ETF Portfolio VEQT.TO 0.00% 33.5K 0.22%
9 Vanguard Growth ETF Portfolio VGRO.TO 0.00% 18.0K 0.22%
10 Vanguard Balanced ETF Portfolio VBAL.TO 0.00% 7.9K 0.22%

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
2.14M
Shares Outstanding
70.09M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Prakash Mishrimal Sanghvi Chairman & MD 249M male
Jayantilal Mishrimal Sanghvi Joint MD & Executive Director 172M male
Shantilal Mishrimal Sanghvi Whole Time Director 146M male
Vimal Katta Senior Vice President of Finance & Accounts and Chief Financial Officer 11M male
Manoj Prakash Sanghvi Whole Time Director & Chief Executive Officer 8M male
Prashant Jayantilal Sanghvi Whole Time Director & Business Head of L.S.A.W. 7M male
Manjindersingh Randhawa Business Head of Stainless Steel Division — male
Rajanikant S. Patel Senior Vice President of Manufacturing — male
Dhirendra Mohan Sharma Business Head of Carbon Steel (Line Pipes Products) — male
Anil C. Maloo Company Secretary, Compliance Officer & Legal Head — male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits

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