Ratnamani Metals & Tubes Ltd. share price target

the Carbon Steel (CS) segment to Rs 496 crore largely driven by improved blended realisations up by 30.0% y-o-y to Rs 68737/ tonne as volumes sold was lower by 3.5% y-o-y to 72153 MT. Also revenue grew by 25.5% y-o-y in the Stainless steel (SS) segment to Rs 212 crore led by improved blended realisation up by 23.8% y-oy to Rs 392,796/ tonne along with slightly...

Ratnamani Metals and Tubes was incorporated in 1983. It is the market leader in manufacturing Tubes & Pipes in Stainless Steel/Exotic and also a significant player in manufacturing Carbon Steel Welded Pipes. The company is multi location and multi product enterprise. It caters to more than 16 industries and has 37 countries export presence. The company is headquartered in Ahmedabad and its manufacturing facilities are at Chhatral, Indrad and Kutch in Gujarat and its business offices are situated in Mumbai, Delhi, Hyderabad and Chennai. The products are widely accepted by its end user...

Ratnamani Metals & Tubes Ltd (RMTL) reported strong topline growth of 36% YoY for Q3FY19, registering revenue of INR 728 crs.

The stainless steel division reported sales of 5405 tonnes (flattish YoY; down 4% QoQ) in line with our estimate of 5425 tonne. The carbon steel division sales came in at 73680 tonnes (up 5% YoY, down 4% QoQ and higher than our estimate of ~70000 tonnes). Total operating income for...

Ratnamani Metals and Tubes reported a strong set of Q2FY19 numbers. The performance was driven by higher realisations on a YoY basis in both stainless steel and carbon steel division The stainless steel division reported sales of ~5651 tonnes (down 2.3% YoY; up 41.9% QoQ) higher than our estimate of ~4200 tonne. The carbon steel division sales came in at ~76653 tonnes (up 212.3% YoY, 7.8% QoQ, and higher than our estimate of ~ 74375 tonnes). Total operating income for the quarter was at | 730.3 crore (up 129.9% YoY,...

Strong execution leads to massive growth, retain Hold We remain structurally positive on Ratnamani Metals & Tubes (RMTL) but retain our Hold rating with a revised TP of Rs985 (vs Rs940 earlier) on the back of limited upside potential with strong growth outlook largely factored in at current valuations. Q2 performance was well above expectations with solid EBITDA growth of 127% YoY & 28% QoQ led by strong execution of previous orders. We continue to believe in RMTL's long-term growth story, with expected strong domestic capex over FY19-22E and...

Ratnamani Metals & Tubes Ltd (RMTL) reported stellar topline growth of 107% YoY for Q1FY19, registering revenue of INR 609 crs.

Ratnamani Metals and Tubes reported a mixed set of Q1FY19 numbers. Topline and PAT came in higher than our estimates while the EBITDA margin came in lower than our estimates The stainless steel division reported sales of 3983 tonnes (down 11.4% YoY, 25.3% QoQ) lower than our estimate of 4900 tonne while the carbon steel division sales came in at 71128 tonnes (up 125% YoY, down 5% QoQ) lower than our estimate of 78750 tonne. On the back of healthy realisations, the topline came in at | 609.4 crore, up 106.9%...

We remain structurally positive on Ratnamani Metals & Tubes (RMTL) but retain our Hold rating with a revised TP of Rs940 (vs Rs970 earlier) on the back of limited upside potential with strong growth outlook fully factored in at current valuations. Q1 performance was on expected lines with strong EBITDA growth but margin remaining under check led by higher share of CS segment. We continue to believe in...

Ratnamani Metals and Tubes (RMTL) is a niche player with superior capabilities in the domestic industrial pipes domain. RMTL manufactures a wide range of stainless steel (SS) and carbon steel (CS) pipes and tubes, finding application in the highly corrosive environment of end user industries like oil & gas refineries, power, water and chemicals. RMTL has ~35-40% domestic market share of SS tubes/pipes for niche applications. Going forward, we remain positive on the company on the back of a capex revival in its key end user industries. RMTL, with its competitively...