Ratnamani Metals & Tubes announced its Q3 2025-26 results, showing profitability growth supported by subsidiaries, particularly bearing rings and pipe spool businesses. Consolidated revenue rose to ₹1,316.30 Crores. Standalone stainless steel division grew by 5%, but overall standalone sales decreased by 39% due to lower carbon steel demand. The company maintained profitability ratios with cost management.
Financial Performance – Consolidated
In Q3 2025-26, Ratnamani Metals & Tubes experienced profitability growth on a consolidated basis, primarily supported by strong performance from its subsidiaries, especially in the bearing rings and pipe spool businesses.
- Revenue from Operations: ₹1,316.30 Crores
- EBITDA: ₹235.88 Crores, with a margin of 22.1%
- PBT: ₹177.08 Crores
- PAT: ₹135.38 Crores
Financial Performance – Standalone
The stainless steel division showed positive momentum with a 5% growth. However, the overall standalone sales experienced a decline due to reduced demand in the carbon steel division during the quarter. The company successfully maintained its profitability ratios through effective cost management.
- Revenue from Operations: ₹794.33 Crores
- EBITDA: ₹165.04 Crores, with a margin of 20.8%
- PBT: ₹117.82 Crores
- PAT: ₹87.91 Crores
Subsidiary Performance Highlights
Ravi Technoforge Private Limited (RTL) and Ratnamani Finow Spooling Solutions (RFSS) reported significantly improved results, contributing to the Group’s diversified business model.
Ongoing Projects
Ratnamani Metals & Tubes is actively pursuing expansions across its various facilities:
- Kutch: Developing a new carbon steel HSAW spiral pipe facility, expected completion in June 2026.
- Kutch: Expanding the CSAW plant for high-thickness pipes, expected completion in February 2026.
- Odisha: Establishing a coating plant for the spiral welded pipes plant, expected completion in March 2026.
CEO Message
Mr. Manoj P. Sanghvi, Whole-Time Director & Chief Executive Officer, noted that while the company faced a softer operating environment during the quarter, the stainless steel division performed resiliently. He expects order inquiries to improve and the company remains confident of sustainable growth.
Source: BSE
