Ratnamani Metals & Tubes Limited announced its financial results for the quarter and year ended March 31, 2026. While the fourth quarter saw profitability impacted by lower sales volumes and fixed cost under-absorption against a high previous-year base, the company maintained FY26 EBITDA and PAT broadly in line with the previous year. The company remains debt-free on a standalone basis and has declared a dividend of ₹10 per share.
Financial Performance Overview
For the quarter ended March 31, 2026, Ratnamani Metals & Tubes Limited reported consolidated revenue from operations of ₹1,084.82 crore. While the performance reflects a challenging environment marked by muted demand, the company demonstrated resilience on a full-year basis. Consolidated FY26 revenue reached ₹4,493.96 crore, with consolidated Profit After Tax (PAT) standing at ₹534.47 crore. On a standalone basis, the company maintains a robust financial position, remaining debt-free with an order book exceeding ₹1,800 crore.
Subsidiary Contributions and Operational Highlights
Growth was supported by strong contributions from key subsidiaries. Ravi Technoforge (RTL) saw revenue increase to ₹105.32 crore in Q4, while Ratnamani Finow Spooling Solutions (RFSS) reported a notable jump in Q4 revenue to ₹71.94 crore, with its PAT rising to ₹20.76 crore. These subsidiaries, particularly in the bearing rings and pipe spooling businesses, have emerged as vital growth drivers for the group.
Strategic Infrastructure Expansion
The company is aggressively expanding its capabilities to capture future demand. Major ongoing projects include:
- Kutch Brownfield Expansion: Development of a new 100,000 MT carbon steel HSAW pipe facility, expected by June 2026, and an upgraded CSAW pipe plant that is already completed.
- Odisha Greenfield Project: A new coating plant, expected to be fully operational by May 2026.
- Global and Specialized Growth: New projects for spool manufacturing (Kutch) and hot forming facilities (Rajkot) are slated for completion by December 2026, along with a cold-finished seamless stainless steel plant in Saudi Arabia expected in March 2027.
Commitment to Sustainability and Governance
Ratnamani continues to integrate ESG into its core philosophy, reporting that 42% of its total energy is sourced from clean sources, supported by 41 MW of commissioned captive clean energy projects. The company’s governance remains anchored by an experienced Board, with a focus on long-term value creation through technological innovation, including its leadership as the first in India to supply hydrogen-compliant pipes.
Source: BSE
