Ratnamani Metals & Tubes Ltd. share price target

Ratnamani Metals (RMTL) reported a good Q4FY18 performance. Topline came in above our estimates due to higher blended realisations while EBIDTA and PAT came in broadly in line with our estimates The stainless steel (SS) division reported sales of 5330 tonnes (down 5.8% YoY, 1.8% QoQ) lower than our estimate of 5950 tonne. Sales from the carbon steel (CS) division came in at 74800 tonnes (up 71.9% YoY, 6.8% QoQ), broadly in line with our estimate of 74375 tonnes. The operating income came in at | 619.1 crore (up 59.4% YoY, 15.6% QoQ)...

Ratnamani Metals & Tubes Ltd (RMTL) reported stellar topline growth of 59% YoY for Q4FY18, registering revenue of INR 619 crs vs INR 388 crs in Q4FY17.

Ratnamani Metals & Tubes (RMTL) reported a steady Q3FY18 performance wherein the topline came in higher than our estimates while EBITDA, PAT were below our estimates. Total operating income...

Ratnamani Metals and Tubes (RMTL) reported Q2FY18 numbers below expectations as revenues declined by 1.3% to INR 318cr which was way below our expectation of INR 386cr. Revenues came in...

Total operating income for the quarter under review stood at | 317.6 crore (down by 1% YoY, up by 8% QoQ) lower than our estimate of 430.4 crore. The aggregate stainless steel tube and pipe (SSTP) segment sales volumes stood at 5800 tonnes (higher by 29.1% QoQ), while...

Concall highlights & outlook: Management has indicated execution of current order book within 12 months and remains confident on receiving new orders for future execution. RMTL has also initiated debottlenecking at its existing HSAW lines which would increase the capacity from 180ktpa to 250 ktpa by Mar'18 and help in higher order execution from FY19E. We retain our earnings estimates for FY18E/19E. Recovery in demand for the SS segment and expansion of seamless SS tube capacity by 20ktpa in the next few years (first phase commissioning in H2FY19E) would remain key growth triggers....

Ratnamani Metals and Tubes Ltd (RMTL) reported Q1FY18 results below our expectations as the lower opening order backlog of carbon steel (CS) segment led to lower volumes for the segment.

RMTL, a leader in niche segment of stainless steel (SS) seamless/welded tubes (market size of INR 1500cr) is set to gain from upcoming capex in domestic oil refineries space...

We recently met the management of Ratnamani Metals & Tubes (RMTL) to understand its business model and long term prospects. RMTL was incorporated in 1983. In 1985, it started its first production facility. The company is a leading manufacturer of stainless steel tubes and pipes (SSTP) and carbon steel pipes. RMTL has two facilities in Chhatral and Kutch, Gujarat. Its stainless steel pipe and tubes has an installed capacity of 28,000 tonne out of which stainless steel welded capacity is of 20000 tonnes while stainless steel seamless capacity is 8000 tonnes. RMTL also...