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Ratnamani Metals & Tubes share price & results

Ratnamani Metals & Tubes Limited· Capital Goods· Industrials

Results to
Jun 2026
Latest analysed call
Q4 FY26
Ownership as of
Sept 2026

Largest Indian maker of stainless steel pipes & tubes; also produces carbon steel welded pipes.

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Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue741 ₹ crore−30.2% YoYQuarterly, as filedQuarter to Jun 2026Revenue from operations as filed.
Operating margin11.0 %−7.0 pts YoYOperating profit / revenueQuarter to Jun 2026For the quarter; a change is in percentage points.
Net profit54.0 ₹ crore−62.8% YoYQuarterly, as filedQuarter to Jun 2026Profit after tax as filed.
Return on equity11.30 %−3.4 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin10.06 %+5.6 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)-16.28 %−15.9 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Jun 2026

Guidance

What management said, and what became of it

4 of 7 judged targets kept · 7 open · verdicts reflect calls analysed to Q4 FY26.

Ratnamani Metals & Tubes Limited management guidance track record on Inve: 14 targets tracked across analysed earnings calls (4 achieved, 3 missed, 7 open).

TargetOriginal wordingSaidLatest callVerdict
Annualized Standalone EBITDA Margin16% to 18%Q2 FY24Q4 FY26:FY26 target met. Management reiterated guidance for FY27 at '16% plus/minus 1%'.
Call transcript, Q4 FY26 · 18 May 2026		Achieved
Orissa Plant Phase-II CommissioningEnd of FY25Q4 FY24Q4 FY26:The deadline of 'end of FY26' for Phase-II commissioning has passed. No confirmation of completion was provided in the call.
Call transcript, Q4 FY26 · 18 May 2026		Ghosted
Saudi JV Operational TimelineDecember 2026
Call transcript, Q4 FY25 · 19 May 2025		Q4 FY25Q4 FY26:Timeline for trials pushed from Dec 2026 to 'within March 2027', with a potential further 3-month spillage.
Call transcript, Q4 FY26 · 18 May 2026		Delayed

Source: Inve Guidance Tracker for Ratnamani Metals & Tubes Limited · to Q4 FY26

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

3 of Ratnamani Metals & Tubes Limited's 14 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 11 more targets are in the full ledger.

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Price

₹2,344 +0.52% · +₹12.1

Last close 27 Oct 2026 · NSE · INR · Source: Inve

Performance −4.0% 1Y

₹2.0k₹2.2k₹2.4k₹2.6k₹2.8kOct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Oct 26Q2 FY26 — 10 Nov 2025Q4 FY26 — 18 May 2026

1Y: ₹2,442.8 on 24 Oct 2025 → ₹2,344. High ₹2,888.6 (14 May 2026), low ₹1,946.4 (11 Feb 2026).

Previous close
₹2,331.9
Market cap
₹16.4k Cr
52-week range
₹1,946.4 – ₹2,888.6
One year
−8.72%
Price to earnings (TTM to Jun 2026)
37.46×
Return on equity (TTM to Jun 2026)
11.30%

Overview

Symbol
NSE:RATNAMANI
Industry
Industrials
Exchange
NSE
Currency
INR

What Ratnamani Metals & Tubes Limited does

Based on the company's own presentations, annual report and earnings calls.

Ratnamani Metals & Tubes manufactures stainless steel and carbon steel pipes and tubes across four plants in Gujarat and Odisha, serving oil & gas, refining, power, chemicals, pharma and other process industries in India and over 35 countries. It earns revenue by selling seamless and welded stainless steel pipes/tubes and welded carbon steel pipes (LSAW, HSAW, CSAW, HFW) with coating solutions to EPC contractors, process licensors and end clients. Through subsidiaries, it has diversified into precision-forged bearing rings for automotive and industrial applications (Ravi Technoforge) and high-integrity pipe spool fabrication for nuclear and thermal power projects (Ratnamani Finow Spooling Solutions, a JV with Switzerland's Technoenergy AG/FINOW GmbH).

Segments

  • Stainless Steel Pipes & Tubes
  • Carbon Steel Welded Pipes
  • Bearing Rings & Auto Components (Ravi Technoforge)
  • Pipe Spooling Solutions (Ratnamani Finow Spooling Solutions)
Manufacturing facilities
4 (Kutch, Chhatral & Indrad in Gujarat; Sundargarh in Odisha)
Market position — Stainless Steel pipes & tubes
Largest manufacturer in India
Market position — Carbon Steel welded pipes
One of the largest manufacturers in India
Employees
3,300+
Export footprint
Products exported to 35+ countries
Industries served
20+
Founded 1983Headquarters Kutch, Gujarat, India Company website

How the price took the results

close before → close after

Q4 FY26
−8.4%
18 May
Q2 FY26
+0.9%
10 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

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