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|Summary||Date||Stock||Broker||Price at Reco.||Target||Price at reco|
Change since reco(%)
|2018-01-01||Rama Steel Tubes Ltd.||Share India||210.70||225.00||210.70 (-83.65%)||Target met||Buy|
Rama Steel in its JV - Pir Panchal Construction Pvt Ltd. (PPCPL) wherein it holds 25% stake - has won orders worth INR 2,880mn for supply and erection of transmission lines for rural electrification. The order has been awarded by Uttarakhand Power...
|2017-12-11||Rama Steel Tubes Ltd.||Prabhudas Lilladhar||193.95||224.00||193.95 (-82.24%)||Target met||Buy|
margins were higher by 28bps QoQ to 7.7% due to higher EBITDA per ton. YoY, margins contracted by 157bps mainly due to higher raw material prices and lower gross margins (by 131bps). During the same quarter of last year, steel prices had shot up which bumped up margins. At 9.2%, it was the highest ever recorded in the past 8 quarters and was an aberration. Management has guided 7.5-8% EBITDA margins as more sustainable levels. PAT recorded growth of 32.3% YoY and 6.5% QoQ to Rs 35m in spite of higher depreciation and interest...
|2017-12-11||Rama Steel Tubes Ltd.||Khambatta Securities||210.50||243.00||210.50 (-83.63%)||Target met||Buy|
The marginal improvement in EBITDA margins comes on the back of 220 bps sequential increase in 1Q FY18, mainly contributedbyreducedpowercost.Thisreducedpowercostis attributable to the commissioning of a solar power plant at Khopoli. According to management, this had helped the...
|2017-11-23||Rama Steel Tubes Ltd.||Joindre Capital Services||181.95||235.00||181.95 (-81.07%)||Target met||Buy|
Joindre Capital Services
Incorporated in 1974, Rama Steel Tubes Ltd. (Rama Steel), is one of the major player in the steel pipe tube in India. Having started with around 10,000 tonnes capacity at single location, today RSTL has a presence in three locations with total capacity of 1.32 lac tonnes annually. RSTL is primarily engaged into the manufacturing of ERW black round pipes, galvanized pipes, pre-galvanized pipes, steel sheets and structures. It products...
|2017-09-12||Rama Steel Tubes Ltd.||Khambatta Securities||163.65||207.00||163.65 (-78.95%)||Target met||Buy|
Rama Steel Tubes Ltd (RST) reported a better than expected financial performance for Q1 FY18. During the quarter, net sales increased 11% y/y to Rs 729m. Q1 FY18 EBITDA increased 23% to Rs 67m (Rs 55m a year ago) while the EBITDA margin came at 7.4%. Improvement in EBITDA Margins was mainly contributed by reduced power cost. The commission of solar plant at Khopoli has reaped the benefit for the Company and has reduced its power cost. As...
|2017-06-09||Rama Steel Tubes Ltd.||ICICI Securities Limited||127.60||127.60 (-73.00%)||Not Rated|
ICICI Securities Limited
We recently attended the investor and analyst conference of Rama Steel Tubes (RSTL) to understand its business model and long term prospects. RSTL was incorporated in 1974. The company is engaged in manufacturing ERW black pipes and tubes, ERW galvanised steel pipes, scaffolding pipes & tubes, swaged poles, structural steel products and hollow sections. RSTL has a total installed capacity of 132000 metric tonnes (MT), out of which 72000 MT is in Khopoli, Maharashtra, while 60000 MT is in Sahibabad UP. The pipes manufactured by the company...
|2017-04-12||Rama Steel Tubes Ltd.||Choice India||136.50||136.50 (-74.76%)||Neutral|
Incorporated in 1974, Rama Steel Tubes Ltd. (Rama Steel), is one of the major player in the steel pipe tube in India. Started with around 10,000 tonnes capacity at single location, today the company has presence in three locations with total capacity of 0.132mn tonnes. It is primarily engaged into the manufacturing of ERW black round pipes, galvanized pipes, pre-galvanized pipes, steel sheets and...