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Rama Steel Tubes Ltd.

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ramasteel.comBSE: 539309NSE: RAMASTEEL
Market Cap₹ 643 Cr.
Current Price
High / Low₹ 12 / 3
Stock P/E49.6
Book Value₹ 3
Price to Book4.01
Dividend Yield0.00 %
ROCE8.7 %
ROE6.5 %
Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • Manufacturing - Steel Pipe: 71.3% • Trading- Steel Products: 28.7%

AI Sector View

AI GENERATED

Metals & Mining

Hold

The sector backdrop is mixed. Iron ore output was very strong at 29.5% YoY (2026-07), but steel slowed to 2.9% YoY (2026-07), finished steel consumption was 8.0% YoY (2026-06), and headline mining production was still -0.9% (Jul/26). FPI outflows of INR -2349 crore over 3 months to 2026-08-31 also argue against an aggressive overweight.

Confidence
61%
View full sector analysis →

PROS

  • Company has consistently been profitable over the last 5 years
  • Company has delivered good sales growth of 24.3% CAGR over last 5 years
  • Company generates healthy free cash flow
  • Company maintains a comfortable, low leverage position
  • Institutional investors have been accumulating - FII+DII up 2.2pp

CONS

  • Recent results are weak - TTM profit is down 48.3% versus prior year
  • A large part of profit comes from other income (58.1% of PBT)
  • Promoter holding has decreased over last 2 years: -22.1pp
  • Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.34x)
  • Operating margins have contracted to 2.8% from 6.7%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Metals & MiningIron & SteelSteel & Iron Products
Part ofNIFTY 50NIFTY 500NIFTY LARGEMIDCAP 250NIFTY 100NIFTY 200
S.No.Name
1.JSWSTEEL1267.5012.51309961.290.564696.00112.5847364.0011.5520.6719.60
2.TATASTEEL182.8520.69228259.992.192385.2418.8260794.2915.2612.7015.40
3.SAIL179.0017.3173936.401.311644.05120.8026245.671.257.0815.92
4.WELCORP2676.2530.5770596.970.191047.88200.114081.1214.9123.9432.17
5.JSL755.2019.1662260.170.53768.667.5611278.5410.5019.1912.09
6.APLAPOLLO2153.0048.6459779.850.39263.1110.945606.7112.0731.837.34
7.SHYAMMETL1074.3526.7029988.530.423507.301106.6354550.901133.3513.8814.03
8.JINDALSAW311.8530.5219943.060.6490.79-78.154452.319.0010.388.79
9.RATNAMANI2808.1545.4719682.880.36107.03-15.82971.63-15.6318.0116.69
10.SARDAEN524.7516.3718491.210.38478.139.501608.04-1.0717.7641.59
11.GPIL244.5020.4116460.690.41222.372.751750.4732.2920.2019.36
12.RAMASTEEL3.9349.60642.960.005.459.87223.34-16.718.702.73
Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
313203262268217263275293268320289246223
296191245255205262270281267316283242221
Operating Profit1612171311151225643
OPM %5.16%6.08%6.64%5.01%5.27%0.22%1.81%4.11%0.59%1.53%2.15%1.73%1.24%
11201951102241
Interest7473333333332
Depreciation1111211111112
Profit before Tax981010766972434
Tax %24.74%17.52%13.07%21.29%16.37%27.49%10.13%29.79%31.15%57.56%57.96%-4.73%-43.13%
Net Profit0000646751245
0.150.090.180.120.040.030.040.040.030.040.010.030.03

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
2422603775043534707681,3371,0471,0481,079
2272403544883444527261,2859871,0191,061
Operating Profit152022169184351592918
OPM %6.02%7.63%5.91%3.26%2.46%3.89%5.54%3.85%5.67%2.77%1.68%
345346974179
Interest68791081120211211
Depreciation33233345666
Profit before Tax913187-0153635382914
Tax %30.18%27.87%31.73%14.72%-800.14%15.83%24.01%21.53%20.07%21.19%14.88%
Net Profit69126-2122727302312
EPS4.030.000.000.000.007.2116.411.160.190.15—
Dividend Payout %0.00%0.00%0.00%0.00%0.00%0.00%3.07%0.00%0.00%0.00%—

COMPOUNDED SALES GROWTH

10 Years:
18%
5 Years:
24%
3 Years:
11%

COMPOUNDED PROFIT GROWTH

10 Years:
42%
5 Years:
122%
3 Years:
-6%

STOCK PRICE CAGR

10 Years:
10%
5 Years:
5%
3 Years:
-31%
1 Year:
-62%

RETURN ON EQUITY

10 Years:
15%
5 Years:
14%
3 Years:
11%
Last Year:
7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Corporate actions

2024

Mar 19

2:1

Increase in Authorised Capital & Bonus issue

2023

Jan 6

4:1

Bonus issue Inter alia, to consider the following proposals: a.) issuance of fully paid bonus equity shares to the members of the Company and other allied activities; b.) to consider the proposal related to acquisition of companies. The aforesaid proposals, if approved by the Board, will be subject to the approval of the shareholders.

2016

Mar 14

4:1

Bonus issue & Stock Split & A meeting of the Board of Directors of the Company will be held on January 27, 2016, inter alia, to consider and approve the following: 1. Split of Equity Shares of the Company. 2. Issue of Bonus Shares. 3. Alteration of Memorandum of Association of the Company.

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
788888847154155
Minority Interest000000013129
184068797992118179179209
54576391848613819314186
Trade Payables1515419595069216228286
121611561227502515
Total Liabilities107137155202238248361698739760
1723383837475310210699
Capital Work in Progress11017461110
1256810881365
325134515473101197132127
00000000217243
Cash & Bank6810713221913176
4049679711693175371260270
Total Assets107137155202238248361698739760

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
6-49-123025-31-891851
Cash from Investing-1-1-9-3-7-10-9-53-13
Cash from Financing-510617-17-641143-13-66
-112-369-3-65-12

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025

Shareholding Pattern

Numbers in percentages

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
56.3347.9647.9647.9647.8437.7637.7635.8934.18
0.050.170.070.440.465.445.735.712.70
DIIs0.000.000.000.000.000.000.000.000.00
Government0.000.000.000.000.000.000.000.000.00
43.6251.8751.9751.6051.7056.8056.5158.4063.12

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-08
Copy of Newspaper Publication

2026-09-08 - Rama Steel Tubes Limited has informed the Exchange about Copy of Newspaper Publication.

2026-09-07
Shareholders meeting

2026-09-07 - Rama Steel Tubes Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 30, 2026

2026-09-01
Copy of Newspaper Publication

2026-09-01 - Rama Steel Tubes Limited has informed the Exchange about Copy of Newspaper Publication.

2026-08-15
Copy of Newspaper Publication

2026-08-15 - Rama Steel Tubes Limited has informed the Exchange about Copy of Newspaper Publication.

2026-08-14
Change in Auditors

2026-08-14 - Rama Steel Tubes Limited has informed the Exchange regarding Change in Auditors of the company.

2026-08-14
Appointment

2026-08-14 - Rama Steel Tubes Limited has informed the Exchange regarding Appointment of Mrs. Anju Kumari as Non- Executive Independent Director of the company w.e.f. October 01, 2026.

2026-08-14
Outcome of Board Meeting

2026-08-14 - Rama Steel Tubes Limited has submitted to the Exchange, the Unaudited Financial Results (Standalone and Consolidated) for the period ended Jun 30, 2026.

2026-07-17
General Updates

2026-07-17 - Rama Steel Tubes Limited has informed the Exchange about sale of unit.

2026-07-13
Credit Rating- Others

2026-07-13 - Rama Steel Tubes Limited has informed the Exchange about Credit Rating-withdrawn.

News

Recent coverage and analyst commentary for RAMASTEEL

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