Ratnamani Metals & Tubes Ltd. share price target

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...

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...