Rajasthan Tube Manufacturing Company (BSE: RAJTUBE) had a P/E of 18.0× on 6 Nov 2026, below the industry P/E of 19.9×, and the shares are 80% below their 52-week high. Sales fell 45% a year over 3 years while net profit grew 9.0%, with ROCE of 19% and ROE of 13%, though net profit is above operating profit, which points to a one-off gain. It is a small-cap company with a market cap of ₹42 Cr, ranked 122nd of 150 Steel companies by market cap; the shares fell 77% over the past year.
- ₹9.58
- ₹9.73
- ₹9.15
- ₹9.58
- 29.3K
Health check
- ReturnsBehind
−77.4% over a year, better than 0 of 7 peers.
- Price tagDistorted
A one-off gain inflates profit, so P/E isn’t comparable right now.
- GrowthSlow
Sales −44.6%, profit +9.0% a year over 3 years.
- ProfitabilityAverage
ROCE 19.2% vs peer median 18.7%.
- Balance sheetFair
Piotroski 7 of 9.
- Red flags3 to check
Quarterly sales down 99.6% on a year ago.
Small cap
Defensive
Key metrics
- Market cap
- ₹42 Cr
- Small cap
- P/E
- 18.0
- Industry 19.9
- Price to book
- 4.05
- Peers 2.28
- Dividend yield
- 0.00%
- ROE
- 13.2%
- Peers 23.4%
- ROCE
- 19.2%
- Peers 18.7%
- Debt to equity
- n/a
- Debt ₹0.00 Cr
- EPS (TTM)
- ₹0.52
- OPM (TTM)
- 57.6%
- Net margin 65.3%
- Sales growth
- −99.6%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 11.63
- EV/EBITDA 8.8
Strengths and risks
Risks to check
- Quarterly sales down 99.6% on a year ago.
- Net profit is above operating profit, so a one-off gain is likely flattering earnings.
- 80% below its 52-week high.
About Rajasthan Tube Manufacturing Company
Rajasthan Tube Manufacturing Company Limited manufactures, trades in, and sells steel tubes and pipes in India. The company offers black and galvanized ERW steel tubes and pipes that are used in various applications, such as, water mains and sewerage systems, agriculture and irrigation, tube-wells, natural gas, LPG and oil refinery piping. It also provides hot rolled steel sheets for making tubular products, including hot rolled coils, pipes, LPG…
- Headquarters
- Jaipur
- Sector
- Basic Materials
- ISIN
- INE497E01020
- Website
- rajtube.com
Price range
- Avg volume (3M)
- 40.9K
- 1-year return
- minus 77.4%
- From 52-week high
- minus 79.7%
Peers · Steel
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| JSWSTEELJSW Steel | 1,357.10 | plus 0.11% | 3,31,265 | 11.7 | 12.2 | 18.7% | 17.7% | 0.62 | 3.6% | plus 14.7% |
| TATASTEELTata Steel | 186.30 | plus 2.36% | 2,32,397 | 21.1 | 9.1 | 11.3% | 15.2% | 0.89 | −1.6% | plus 1.5% |
| JINDALSTELJindal Steel | 1,165.00 | plus 1.31% | 1,18,594 | 41.5 | 14.9 | 7.5% | 15.9% | 0.42 | −13.1% | plus 6.4% |
| LLOYDSMELloyds Metals And Energy | 1,785.50 | minus 1.38% | 1,00,482 | 19.1 | 18.8 | 19.4% | 37.4% | 1.23 | 71.3% | plus 37.4% |
| SAILSteel Authority of India | 171.60 | minus 0.41% | 70,880 | 12.6 | 8.1 | 7.2% | 12.9% | 0.50 | 2.0% | plus 24.7% |
| NMDCNMDC | 70.40 | minus 0.01% | 61,894 | 8.3 | 6.2 | 28.4% | 30.0% | 0.19 | 22.0% | minus 5.2% |
| APLAPOLLOAPL Apollo Tubes | 2,185.30 | minus 0.41% | 60,677 | 46.3 | 32.7 | 28.0% | 8.2% | 0.17 | 12.6% | plus 23.3% |
| RAJTUBERajasthan Tube Manufacturing Company | 9.34 | minus 2.51% | 42 | 18.0 | 13.9 | 19.2% | 57.6% | – | −44.6% | minus 77.4% |
| Median of 7 peers | – | −0.01% | 1,00,482 | 19.1 | 12.2 | 18.7% | 15.9% | 0.50 | 3.6% | 14.7% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 13.4 | 0 | 3.5 | – | 0.1 | |
| 14.4 | 0 | 0.6 | – | 0 | |
| −0.9 | 0 | 2.9 | −0 | 0 | |
| −6.9% | 98.2% | 83.1% | – | 80.6% | |
| 0 | 0 | −0 | 0 | 0 | |
| 0.2 | 0 | 0 | – | 0 | |
| 0 | 0 | 0 | 0 | 0 | |
| −1.1 | −0 | 2.9 | −0.1 | 0 | |
| – | – | – | −981.0% | – | |
| −1.1 | −0 | 2.9 | −0.6 | 0 | |
| -0.24 | – | 0.64 | -0.13 | 0.01 |
Profit & loss
- Sales CAGR 3Y
- −44.6%
- Profit CAGR 3Y
- +9.0%
- EPS CAGR 3Y
- +8.4%
- ROE
- 13.2%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 99.9 | 94.9 | 56.3 | 17 | |
| – | minus 5.0% | minus 40.6% | minus 69.8% | |
| 97.5 | 92.7 | 54.5 | 15 | |
| 2.4 | 2.2 | 1.8 | 2 | |
| 2.4% | 2.4% | 3.3% | 11.7% | |
| −0 | −0 | 0 | 0 | |
| 1.3 | 1.3 | 1.3 | 0.2 | |
| 0.1 | 0.1 | 0.1 | 0.1 | |
| – | 0 | – | – | |
| 1 | 0.8 | 0.5 | 1.7 | |
| 7.7% | 6.5% | 3.9% | 29.3% | |
| 1 | 0.7 | 0.5 | 1.2 | |
| – | minus 24.4% | minus 32.6% | +153.8% | |
| 0.21 | 0.16 | 1.08 | 0.27 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 4.5 | 4.5 | 4.5 | 4.5 | |
| 3 | 3.8 | 4.3 | 5.5 | |
| 15.6 | 8.7 | 6.9 | – | |
| 5.5 | 11.5 | 3.7 | 1.3 | |
| 28.6 | 28.4 | 19.4 | 11.3 | |
| 1.4 | 1.5 | 1.7 | 1.3 | |
| 0.1 | 0.1 | 0.1 | – | |
| 0.2 | 0 | 0.4 | 0.4 | |
| 27 | 26.8 | 17.2 | 9.7 | |
| 28.6 | 28.4 | 19.4 | 11.3 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −0.7 | 8.3 | 3.3 | 13.7 | |
| 0 | −0.2 | 0 | 0.2 | |
| 0.6 | −8.2 | −3 | −7.1 | |
| −0 | −0.1 | 0.3 | 6.8 | |
| −0 | −0.2 | −0.1 | – | |
| −0.7 | 8.1 | 3.3 | 13.7 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.
Major shareholders
Filings & events
News
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