Ratnamani Metals & Tubes Limited (520111) Earnings Call Transcripts

Ratnamani Metals & Tubes Limited's Latest Earnings Call - Q4 FY2026

In Q4 FY '26, Ratnamani Metals & Tubes Limited reported a significant decline in revenue, with standalone sales of INR 893 crores, down from INR 1,575 crores in the same quarter last year. This decline was attributed to muted demand conditions and geopolitical tensions affecting order bookings. Despite these challenges, the company maintained EBITDA margins and reported a consolidated revenue of INR 1,085 crores, down from INR 1,715 crores year-over-year. Management has guided for a revenue target of INR 4,800 to INR 5,000 crores for FY '27, contingent on improved market conditions and operational efficiencies.

Reported metrics

Guidance from management

Management has guided for a revenue target of INR 4,800 to INR 5,000 crores for FY '27, contingent on improved market conditions and operational efficiencies. They expect demand to normalize in the coming months.

What management said

Debottlenecking CapEx is going on. We are investing -- we are already doing instrumentation tubes in straight length. Now we are executing a few orders in the coil form, and we will continue to increase the capacity over there. We are planning for a new tube mill on the welded side. Since it is -- all the CapEx put together is not significant, it is not -- or it is part of our routine CapEx. So it is not highlighted ...

So any nuclear power plant, greenfield new project, say, for 1 gigawatt, 4,000 to 5,000 tonnes of pipe spools are required. Now currently, considering what the number of plants India is planning plus the other geographies what they are planning, this plant will be booked itself for the new nuclear power plants.

What analysts pressed on

Analysts expressed concerns about the declining order book in the stainless steel division and potential margin pressures from increased competition in the carbon steel market. There were questions regarding the impact of geopolitical tensions on future order inflows and project execution timelines.

Main topics on the call

• Revenue Decline — Ratnamani reported Q4 standalone sales of INR 893 crores, a significant drop from INR 1,575 crores in Q4 FY '25. Management noted, 'the decline in overall sales was primarily driven by lower volumes in the Carbon Steel d...
• Operational Resilience — Despite lower sales, the company maintained EBITDA margins, with management stating, 'there was no negative impact on the EBITDA margins in percentage terms, both for the quarter and for the year.' This reflects strong o...
• Order Book Status — As of May 1, 2026, the order book stood at INR 2,160 crores, with export contributing around INR 700 crores. Management indicated, 'inquiry levels have started showing signs of improvement across key markets.'
• Subsidiary Performance — Ravi Technoforge achieved revenue of INR 105 crores in Q4, up 28% year-over-year, while Ratnamani Finow Spooling Solutions reported a 60% increase in revenue to INR 72 crores. This growth supports overall group profitabi...

Read the full Ratnamani Metals & Tubes Limited transcript (Q4 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 17 Ratnamani Metals & Tubes Limited earnings call transcripts on record, spanning February 6, 2020 to May 18, 2026. Based on this history, Ratnamani Metals & Tubes Limited reports semi-annually. The most recent call on file is dated May 18, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

520111

Exchange

BSE

Country

IN

Sector

Materials

Industry

Metals and Mining

Calls on record

17

First call

February 6, 2020

Most recent

May 18, 2026

Reporting cadence

semi-annually