RAMASTEEL
Rama Steel Tubes financials
- Market cap
- ₹643 Cr
- Sector
- Capital Goods
Quarterly results
Q1 FY27: revenue down 28.3%, net profit down 34.9% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 220 | 225 | 237 | 243 | 279 +27% | 244 +9% | 188 −21% | 174 −28% |
| EBITDA | -3 | 1 | 8 | 1 | 4 +215% | 5 +261% | 1 −85% | 4 +612% |
| Net profit | 3 | 4 | 4 | 6 | 3 −3% | 4 −7% | 1 −67% | 4 −35% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −61.7% 1Y
1Y: ₹10.25 on 10 Sept 2025 → ₹3.93. High ₹11.01 (11 Dec 2025), low ₹3.63 (30 Mar 2026).
Financials, as filed
Revenue fell 9.2% a year over 3 years, FY23 to FY26. Operating margin narrowed to 1.1%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹1.3k Cr | ₹794 Cr | ₹840 Cr | ₹954 Cr |
| Operating profit | ₹41 Cr | ₹37 Cr | ₹10 Cr | ₹10 Cr |
| Operating margin | 3.2% | 4.6% | 1.2% | 1.1% |
| Interest | ₹17 Cr | ₹12 Cr | ₹7 Cr | ₹7 Cr |
| Depreciation | ₹4 Cr | ₹4 Cr | ₹5 Cr | ₹4 Cr |
| Net profit | ₹27 Cr | ₹23 Cr | ₹14 Cr | ₹15 Cr |
| Net margin | 2.1% | 2.9% | 1.7% | 1.5% |
| Cash from operations | ₹-48 Cr | ₹-7 Cr | ₹15 Cr | ₹19 Cr |
| Free cash flow | ₹-89 Cr | ₹-16 Cr | ₹23 Cr | ₹18 Cr |
| ROCE | 12.0% | 11.0% | 5.0% | 6.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹8 Cr | ₹8 Cr | ₹47 Cr | ₹154 Cr | ₹164 Cr | ₹164 Cr |
| Reserves | ₹80 Cr | ₹90 Cr | ₹163 Cr | ₹137 Cr | ₹303 Cr | ₹255 Cr |
| Borrowings | ₹76 Cr | ₹118 Cr | ₹128 Cr | ₹100 Cr | ₹126 Cr | ₹58 Cr |
| Other liabilities | ₹28 Cr | ₹54 Cr | ₹32 Cr | ₹94 Cr | ₹252 Cr | ₹73 Cr |
| Total liabilities | ₹193 Cr | ₹271 Cr | ₹370 Cr | ₹486 Cr | ₹843 Cr | ₹549 Cr |
| Fixed assets | ₹38 Cr | ₹36 Cr | ₹79 Cr | ₹83 Cr | ₹109 Cr | ₹73 Cr |
| Capital work in progress | ₹2 Cr | ₹6 Cr | ₹1 Cr | ₹1 Cr | ₹3 Cr | ₹4 Cr |
| Investments | ₹14 Cr | ₹13 Cr | ₹17 Cr | ₹14 Cr | ₹10 Cr | ₹105 Cr |
| Other assets | ₹140 Cr | ₹215 Cr | ₹273 Cr | ₹388 Cr | ₹721 Cr | ₹366 Cr |
| Total assets | ₹193 Cr | ₹271 Cr | ₹370 Cr | ₹486 Cr | ₹843 Cr | ₹549 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, promoters trimmed −13.66 pp while the public added +11.42 pp. The shareholder count shrank 10% to 8,08,539.
- Promoters
- 34.2%
- FIIs
- 2.7%
- Public
- 63.1%
Since Jun 2025
- Promoters −13.66 pp
- Public +11.42 pp
- FIIs +2.24 pp
How it drifted, 12 quarters
Over this window promoters fell from 57.1% to 34.2% — −23.0 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 57.1%, FIIs 0.3%, DIIs 0.7%, Public 41.8%.Dec '23: Promoters 57.2%, FIIs 0.3%, DIIs 0.6%, Public 41.8%.Mar '24: Promoters 56.7%, FIIs 0.1%, Public 43.2%.Jun '24: Promoters 56.3%, FIIs 0.1%, Public 43.6%.Sep '24: Promoters 48.0%, FIIs 0.2%, Public 51.9%.Dec '24: Promoters 48.0%, FIIs 0.1%, Public 52.0%.Mar '25: Promoters 48.0%, FIIs 0.4%, Public 51.6%.Jun '25: Promoters 47.8%, FIIs 0.5%, Public 51.7%.Sep '25: Promoters 37.8%, FIIs 5.5%, Public 56.8%.Dec '25: Promoters 37.8%, FIIs 5.7%, Public 56.5%.Mar '26: Promoters 35.9%, FIIs 5.7%, Public 58.4%.Jun '26: Promoters 34.2%, FIIs 2.7%, Public 63.1%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Rama Steel Tubes Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Naresh Kumar Bansal | 17.10% | unchanged |
| Nikhil Naresh Bansal | 6.22% | unchanged |
| Kumud Bansal | 3.17% | unchanged |
| Richi Bansal | 2.92% | unchanged |
| Ebisu Global Opportunities Fund Limited FPI fund | 2.44% | unchanged |
| Krati Bansal | 2.06% | unchanged |
| TARUN DHIR (Partner of M/s Arun Enterprises) | 1.83% | −1.71 pp |
| Murli Infratech Llp | 1.71% | unchanged |
| Kanika Bansal | 0.51% | unchanged |
| Charanjit Lal Dhir | 0.23% | unchanged |
| TARUN DHIR (Partner of M/s Dhir Enterprises) | 0.14% | unchanged |
| Sangeeta Dhir | 0.01% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
What the price assumes
Growth trapTo justify its price of ₹4, this stock must grow earnings at 43% every year for 7 years. Our analysis caps realistic growth at ~-41%. At that growth it is worth ₹0 — downside of 99%.
- Growth the price implies
- 43.5% a year
- for 7 years, fading to 4%
- It has actually compounded at
- -38.3% a year
- net profit, FY23–FY26 · EPS -40.8%
- The gap
- 0.8 pp
- -99% downside if it only repeats history
Learn to analyse Rama Steel Tubes Limited
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