Ratnamani Metals & Tubes Ltd is an India-based holding company engaged in the manufacturing of stainless steel pipes and tubes and carbon steel pipes from its manufacturing facilities in India. The Company is engaged in the manufacturing of iron and steel tubes, tube fittings and pipes, including stainless steel seamless and welded tubes and pipes, nickel alloy seamless tubes, carbon steel welded pipes, alloy steel welded pipes, titanium welded tubes, and induction bend. The Company was incorporated on September 15, 1985, and is providing total piping solutions to a diverse range of industries.
The company offers nickel alloy/stainless steel seamless tubes & pipes, stainless steel welded tubes & pipes, titanium welded tubes, carbon steel pipes, pipe bends, etc. for applications in industries like oil & gas, refineries, thermal power, nuclear power, chemicals, petrochemicals, etc. The Company provides critical tubing and piping solutions to a diverse range of industries and niche markets in core sectors, such as oil and gas, refinery and petrochemical, dairy, chemical and fertilizer, thermal, solar and nuclear power, liquefied natural gas (LNG), desalination, defense, aerospace, chillers and cooling system, pulp and paper industry, automobile, and others.
The firm's manufacturing facilities are located in Kutch, Indrad, and Chhatral in the state of Gujarat. Ratnamani Metals & Tubes has 5,181 total employees. Its segments include Steel Tubes and Pipes, Bearing Rings, and Pipe Spools and Auxiliary Support Systems.
It has a wide range of products such as stainless steel pipes and tubes, carbon steel pipes and tubes, alloy steel pipes and tubes, and structural steel pipes and tubes. Its popular brands include Ratnamani, Ratnamani Power, Ratnamani High Pressure, and Ratnamani Premium.
Ratnamani Metals has a market capitalization of ₹20,276 Crore as of July 2025, which is down 20.1% in 1 year. The Company is almost debt-free. Promoter holding in Ratnamani Metals & Tubes Ltd has remained stable at 59.77% as of March 2025 (unchanged from June 2024).
For the quarter ended March 2025 (Q4 FY25):
- Revenue: ₹1,715.15 Crore as on March 2025 (Q4 FY25).
- Net Profit: ₹203.16 Crore as on March 2025 (Q4 FY25).
- Ratnamani Metals & Tubes Ltd's net profit jumped 7.8% since last year same period to ₹207.14 Crore in Q4 FY2024-2025.
For the quarter ended December 2024 (Q3 FY25):
- Sales rose 4.70% to ₹1,316.30 Crore in the quarter ended December 2024, as against ₹1,257.26 Crore during the previous quarter ended December 2023.
- Net profit of Ratnamani Metals & Tubes declined 1.17% to ₹131.31 Crore in the quarter ended December 2024.
For the quarter ended September 2024 (Q2 FY25):
- Ratnamani Metals & Tubes Ltd's revenue fell -13.23% since last year same period to ₹990.86 Crore.
- Ratnamani Metals & Tubes Ltd's net profit fell -38.75% since last year same period to ₹100.39 Crore.
For the year ended 2024, Ratnamani Metals & Tubes Ltd had posted a profit of ₹625.10 Crore on a total income of ₹5,059.10 Crore. The segment revenue grew by 53% between FY22 and FY24.
The Steel Tubes & Pipes segment comprises 93% of the company's business. It operates in the Steel Tubes and Pipes segment. The company's end market by revenue is India.
Ratnamani Metals & Tubes announced a record date of September 2, 2025, for dividend eligibility, proposing ₹14.00 per share. In the quarter ending March 2024, Ratnamani Metals & Tubes Ltd has declared a dividend of ₹14, translating to a dividend yield of 0.49%.
Crisil Ratings reaffirmed Ratnamani Metals' ratings at 'AA/A1+' with a stable outlook. The company expects revenue growth of 8-10% driven by a strong order book and planned capital expenditure of ₹1,600 Crore for capacity expansion.
The stock has surged nearly 300% over five years, reflecting strong multibagger returns for investors. However, steel pipe companies, including Ratnamani Metals & Tubes Ltd, have faced significant declines in the stock market in 2025, with losses ranging from 8% to 34% over the past year.
100% of analysts recommend a 'BUY' rating for Ratnamani Metals & Tubes Ltd. Average target price of ₹3403.4, suggesting positive sentiment despite recent market challenges.
The company recently faced a setback with the demise of Executive Director Prakashchandra H. Bhat, key leader of Stainless Steel Business, on July 2, 2025.
Ratnamani Metals & Tubes Ltd stands as a significant player in India's specialized steel tubes and pipes industry, with strong fundamentals despite recent market volatility. The company's diverse product portfolio, debt-free status, and strategic expansion plans position it well for long-term growth in the infrastructure and industrial sectors.
