RATNAMANI share price, P/E, ROE & financials

As of 6 Nov 2026, Ratnamani Metals & Tubes trades at 43.3× trailing earnings, above the industry P/E of 19.9×, and the shares are 27% below their 52-week high. Sales and net profit fell 0.3% and 1.9% a year over 3 years, with ROCE of 16% and ROE of 12%. It carries very little debt, and its dividend yield is 0.4%. It is a small-cap company with a market cap of ₹17,214 Cr, ranked 12th of 150 Steel companies by market cap; the shares rose 0.3% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Jun 2026.How we calculate this

past year

Open: ₹2,471.50
Day high: ₹2,485.00
Day low: ₹2,280.10
Prev. close: ₹2,454.10
Volume: 66.1K

Health check

1 good · 1 fair · 4 to check

ReturnsBehind
+0.3% over a year, better than 1 of 7 peers.
Price tagPricier
P/E 43.3 vs industry 19.9.
GrowthShrinking
Sales −0.3%, profit −1.9% a year over 3 years.
ProfitabilityAverage
ROCE 16.0% vs peer median 18.7%.
Balance sheetSolid
Debt 0.08× equity, interest covered 42.1×.
Red flags3 to check
Quarterly profit down 37.7% on a year ago.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Steel

149 listed peers. Screen the industry

Small cap

₹17,214 Cr, #12 of 150 in its industry by size.

Defensive

Beta 0.43 vs the NIFTY 50: moves less than the market.

Key metrics

Last 12 months to Jun 2026: sales ₹4,356 Cr · profit ₹433 Cr

Market cap: ₹17,214 Cr; Small cap
P/E: 43.3; Industry 19.9
Price to book: 4.19; Peers 2.28
Dividend yield: 0.41%
ROE: 12.5%; Peers 23.4%
ROCE: 16.0%; Peers 18.7%
Debt to equity: 0.08; Debt ₹318 Cr
EPS (TTM): ₹56.73; Face value ₹2
OPM (TTM): 17.0%; Net margin 9.9%
Sales growth: −15.6%; Latest quarter vs a year ago
Profit growth: −37.7%; Latest quarter vs a year ago
Price to sales: 3.95; EV/EBITDA 21.8

Strengths

Practically debt-free.
Positive operating cash flow in each of the last 4 years.

Risks to check

Quarterly profit down 37.7% on a year ago.
Quarterly sales down 15.6% on a year ago.
P/E of 43.3 against an industry P/E of 19.9.

Derived automatically from reported figures. Not a recommendation.

About Ratnamani Metals & Tubes

Ratnamani Metals & Tubes Limited engages in the manufacturing of stainless-steel pipes, tubes, and carbon steel pipes in India and internationally. The company offers stainless steel products, such as heat exchanger tubes, instrumentation seamless tubes, and stainless-steel pipes; nickel alloy seamless heat exchanger tubes; titanium welded tubes; carbon steel products, including ERW pipes and SAW pipes; pipe coating solutions; and spools, induction bends,…

Headquarters: Ahmedabad
Employees: 3,324
Sector: Basic Materials
ISIN: INE703B01027
Website: ratnamani.com

Price range

52 weeks

₹1,936.50₹3,345.00

Today

₹2,280.10₹2,485.00

Avg volume (3M): 76.4K
1-year return: plus 0.3%
From 52-week high: minus 26.6%

Analyst consensus

5 analysts

Strong buyMean target ₹2,770.20 12.8%

Target range, with today’s price

Low ₹2,384.00High ₹3,113.00

Consensus from Yahoo Finance. Not a recommendation.

Peers · Steel

Capital-heavy industry columns

Compare with peers Screen the whole industry

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%
RATNAMANIRatnamani Metals & Tubes	2,455.90	plus 0.07%	17,214	43.3	–	–	13.0%	0.08	–	plus 0.3%
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

Consolidated, ₹ crore

SalesSelect a row below to chart it

Jun 25	Sep 25	Dec 25	Mar 26	Jun 26
1,152	1,192	1,066	1,085	972
963	980	861	931	809
188	211	205	154	162
16.3%	17.7%	19.2%	14.2%	16.7%
30.3	26.9	31.2	33.6	17.6
11	6.7	7.4	6.3	6.2
31.7	32	33.2	34.7	36.2
–	–	−18.2	7.8	–
176	199	177	154	137
27.7%	21.8%	23.5%	24.8%	22.1%
132	136	110	105	82.2
18.80	19.43	15.66	14.92	11.70

Profit & loss

Yearly, ₹ crore

Sales CAGR 3Y: −0.3%
Profit CAGR 3Y: −1.9%
EPS CAGR 3Y: −1.9%
ROE: 12.5%

Net profitSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
4,461	5,028	5,146	4,417
–	+12.7%	+2.4%	minus 14.2%
3,685	4,130	4,322	3,651
776	897	825	766
17.4%	17.8%	16.0%	17.3%
16.5	33.9	33.9	70.1
21.3	45.1	24.7	18.2
83.3	97.5	108	132
5.9	39	12	20.1
694	828	738	706
26.1%	24.5%	26.6%	24.3%
510	623	544	483
–	+22.0%	minus 12.7%	minus 11.3%
72.83	88.85	77.25	68.81

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore

Total assetsSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
14	14	14	14
2,590	3,127	3,623	4,097
237	153	157	318
939	726	1,112	959
3,780	4,020	4,906	5,388
1,210	1,325	1,558	1,944
108	180	235	354
196	292	403	906
2,266	2,223	2,710	2,184
3,780	4,020	4,906	5,388

Cash flow

Yearly, ₹ crore

Cash from operationsSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
310	511	536	936
−208	−145	−397	−1,148
−116	−193	−130	59.2
−13.3	173	8.9	−152
−142	−213	−329	−485
169	298	207	451
−65.4	−84.1	−98.1	−98.1

Shareholding pattern

Source: NSE filings

59.8%

promoters

Promoters59.77%
Public40.23%
As of 30 Sep 2026

Quarter	Promoters	Public	Promoter change
30 Sep 2026	59.77%	40.23%	0.00
30 Jun 2026	59.77%	40.23%	0.00
31 Mar 2026	59.77%	40.23%	0.00
31 Dec 2025	59.77%	40.23%	0.00
30 Sep 2025	59.77%	40.23%	–

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you