Ratnamani Metals & Tubes Ltd. · NSE:RATNAMANI
Ratnamani Metals & Tubes — Q2 FY2025-26 Earnings Presentation
35 slides from Ratnamani Metals & Tubes's earnings presentation, Nov 10, 2025
Slide 1: Cover letter to stock exchanges on investor presentation
RMTL/SEC/INV.PRE/2025-26 November 10, 2025 BSE Ltd. National Stock Exchange of India Ltd. Corporate Relationship Department “Exchange Plaza”, 5th Floor, 1st Floor, New Trading Ring, Bandra – Kurla Complex, Rotunda Building, P. J. Tower, Bandra (E), Dalal Street, Fort, Mumbai – 400 001 Mumbai - 400 0
Slide 2: 2025-26 (Q2) Investor Presentation
2025-26 (Q2) Investor Presentation
Slide 3: Disclaimer
Disclaimer This presentation and its accompanying slides, prepared by Ratnamani Metals and Tubes Limited ('the Company'), are intended solely for informational purposes. It does not constitute, or form part of, any offer, solicitation, recommendation, or invitation to subscribe for, underwrite, or p
Slide 4: Q2 2025-26 Performance
Q2 2025-26 Performance 1. Q2 2025-26 Performance 2. About Us 3. Annexures 2025-26 (Q2) Investor Presentation
Slide 5: Financial Highlights - Q2 2025-26 (Consolidated)
Financial Highlights - Q2 2025-26 (Consolidated) Growth on a consolidated basis was supported by strong contribution from subsidiaries, particularly bearing rings and pipe spool businesses, along with a higher overall revenue base. Revenue from Operations (₹ in Crores) EBITDA (₹ in Crores) 300 21.0%
Slide 6: Financial Highlights - Q2 2025-26 (Standalone)
Financial Highlights - Q2 2025-26 (Standalone) Revenue grew by 5% with higher volumes, and despite lower realisations due to market conditions, we successfully maintained profitability levels. Revenue from Operations (₹ in Crores) EBITDA (₹ in Crores) 176 21.0% 173.69 939.56 174 20.0% 172 18.7% 19.0
Slide 7: Financial Highlights - Q2 2025-26 (Subsidiaries)
Financial Highlights - Q2 2025-26 (Subsidiaries) Ravi Technoforge Private Limited (RTL) Ratnamani Finow Spooling Solutions Private Limited (RFSS) Revenue from Operations (₹ in Crores) EBITDA (₹ in Crores) Revenue from Operations (₹ in Crores) EBITDA (₹ in Crores) 12.61 13% 110.37 95.59 9% 36.05 68.1
Slide 8: Financial Highlights - Q2 & H1
Financial Highlights - Q2 & H1 (₹ in Crores) Standalone Consolidated Particulars Q2 2025-26 Q2 2024-25 H1 2025-26 H1 2024-25 Q2 2025-26 Q2 2024-25 H1 2025-26 H1 2024-25 Revenue 939.56 897.51 2,001.96 2,007.84 1,191.69 971.33 2,343.31 2,155.03 Other income 33.81 19.50 68.82 31.71 26.91 19.54 57.20 31
Slide 9: CEO's Message
CEO’s Message The Company delivered a strong performance during the quarter. On a consolidated basis, sales stood at ₹ 1,191 Crores, reflecting a 23% growth year-on-year, while standalone sales were ₹ 940 Crores, up 5%. Although half-year revenue growth remained moderate on standalone basis due to l
Slide 10: Operational Highlights during the Quarter
Operational Highlights during the Quarter Successfully completed the process of Phase I of the spiral welded pipe plant making Ratnamani Trade EU AG in in Odisha has been commissioned, with Luzern, Switzerland, a wholly-owned 1 4 Phase II expected to be completed by subsidiary. the end of the calend
Slide 11: Ongoing Projects
Ongoing Projects Parent Company Ratnamani Metals & Ratnamani Metals & Ratnamani Metals & Tubes Limited Tubes Limited Tubes Limited Plant Location Category Plant Location Category Plant Location Category Kutch Brownfield Kutch Brownfield Odisha Greenfield Kutch Product Product Product Developing a ne
Slide 12: Ongoing Projects - Subsidiary Companies
Ongoing Projects Subsidiary Companies Ratnamani Finow Spooling Ravi Technoforge Ratnamani Middle Solutions Private Limited Private Limited East Company, LLC Plant Location Category Plant Location Category Plant Location Category Kutch Greenfield Rajkot Greenfield The Kingdom Greenfield of Saudi Arab
Slide 13: About Us
About Us 1. Q2 2025-26 Performance 2. About Us 3. Annexures 2025-26 (Q2) Investor Presentation
Slide 14: About Us
About Us Largest Player of the One of the Largest Stainless Steel Tubes & Player for Carbon Steel 40+ Years of Experience Pipes in India Welded Pipes in India Manufacturing Facilities Sustainability and ESG Product Portfolio with 4 with Ongoing Expansions to Support Growth Wide Varied Applications D
Slide 15: About Us: Vision, Values, Mission
About Us Our Vision ◊ To attain Global excellence by continuously developing and providing the best quality products and services. ◊ Exceeding expectations of our Customers with innovative products & applications. ◊ Building value for all our stakeholders. ◊ To be a value driven organisation that is
Slide 16: Journey
Journey Operations commenced at the 3LPE Coating Plant, High-Speed Welded Tube Mill, and Offline Commissioned high Started Welding Unit in HSAW Coating capacity wall-thickness, commercial increased from large-diameter production at the Started manufacturing 100 NPS to 122 CSAW pipes at The Company L
Slide 17: JV and Acquisition Timelines
JV and Acquisition Timelines Ratnamani operates through a well-diversified network of subsidiaries and joint ventures, enabling both scale and reach. Manufacturing Marketing & Sales Ratnamani Finow Ravi Technoforge Private Ratnamani Middle Ratnamani Middle East Spooling Solutions Ratnamani Inc. Ratn
Slide 18: Multi-Location Manufacturing Facilities
Multi-Location Manufacturing Facilities 4 Manufacturing Gujarat Odisha Facilities Indrad (Mehsana) Sundargarh Stainless Steel Seamless Works Carbon Steel Works Bhimasar (Kutch) Stainless Steel & Carbon Steel Works Chhatral (Gandhinagar) Carbon Steel Works 2025-26 (Q2) Investor Presentation 17
Slide 19: Product Portfolio
Product Portfolio Wide Range of Product Portfolio Stainless Steel Carbon Steel ◊ Heat Exchanger Tubes ◊ Heater Pipes ◊ Carbon Steel Welded (L-SAW, ERW and H-SAW) Pipes ◊ Integral Low Finned Tubes ◊ Hollow Bars ◊ Induction Bends ◊ Boiler Tubes ◊ Instrumentation Tubes ◊ Structural (Square & Rectangula
Slide 20: Product Details
Product Details SS/Ni/Ti Business Portfolio CS Business Portfolio Seamless SS+ HFW ◊ Dia: 168.3 to 457 mm (6" to 18") ◊ Dia: 3 to 273.05 mm (10") ◊ Thickness: 3.2 to 14.27 mm ◊ Thickness: 0.5 to 45 mm Nickel Alloy: 400, 600, 625, API 5L: Grades A, B, X42, X46...X80 1,00,000 MT 800, 825 API 2B: As pe
Slide 21: Industries Served
Industries Served At the Core of Every Industry Oil & Gas Refinery & Food, Dairy & Chemical & Exploration Petrochemical Beverages Fertiliser Thermal Solar & Nuclear Power LNG Desalination Power Chillers & Cooling CNG & Systems Aerospace Defence Automotive Cross-Country Pipelines for Gas Structural A
Slide 22: Strengths
Strengths Ratnamani’s Edge Technological Prowess and Extensive Product Portfolio Quality at the Core Innovation ISO 17025-accredited First in India to supply laboratories and global hydrogen-compliant pipes. Serving 20+ industries in certifications. Building capabilities for new 35+ countries. Appro
Slide 23: Our Marquee Clients
Clients Our Marquee Clients 2025-26 (Q2) Investor Presentation 22
Slide 24: Subsidiaries and Joint Ventures - Ravi Technoforge
Subsidiaries and Joint Ventures Ravi Technoforge Private Limited (RTL) Ravi Technoforge is a leading manufacturer of high-precision forged and turned bearing rings, gear blanks and auto components, with a portfolio equally divided between automotive and non-automotive sectors such as heavy industria
Slide 25: Subsidiaries and Joint Ventures - Ratnamani Finow Spooling
Subsidiaries and Joint Ventures Ratnamani Finow Spooling Solutions Private Limited (RFSS) RFSS is a specialised provider of high-integrity pipe spool fabrication and support systems, catering to critical industries such as nuclear & thermal power, and oil & gas. It is a joint venture between Ratnama
Slide 26: ESG - Environment
ESG Our Company has voluntarily been evaluated by two independent ESG rating agencies, both of which have assigned us ratings in the ‘Adequate’ category. Environment 41 MW 42% 7% Captive Clean Energy Total Energy Came from Reduction in Projects Commissioned Clean Sources Water Intensity ~100% 100% 3
Slide 27: ESG - Social
ESG Social 34% Reduction in Lost Time Injury Frequency Rate in 2024-25 3,00,000+ People Provided Eye-care through the ‘Drashtirath’ Initiative 100% Employees and Workers Trained on EHS and NGRBC Principles 2025-26 (Q2) Investor Presentation 26
Slide 28: ESG - Governance
ESG Governance Board of Directors Mr. Prakash M. Sanghvi Mr. Jayanti M. Sanghvi Mr. Shantilal M. Sanghvi Mr. Manoj P. Sanghvi Mr. Prashant J. Sanghvi Mr. Rajendra S. Shah Chairman and Managing Joint Managing Director Whole-Time Director Whole-Time Director and Whole-Time Director Independent Directo
Slide 29: Annexures
Annexures 1. Q2 2025-26 Performance 2. About Us 3. Annexures 2025-26 (Q2) Investor Presentation
Slide 30: Financial Highlights (Consolidated)
Financial Highlights (Consolidated) Revenue growth from 2020-21 to 2024-25: 22.5% CAGR Revenue from Operations (₹ in Crores) EBITDA (₹ in Crores) Dividend (in ₹) 6,000 1,200 20.0% 16 800% 5,186 14 14 14 5,059 970 14 700% 700% 19.2% 5,000 4,474 1,000 18.9% 883 19.0% 12 700% 700% 808 12 600% 4,000 800
Slide 31: Financial Highlights (Standalone)
Financial Highlights (Standalone) Revenue growth from 2020-21 to 2024-25: 20.3% CAGR Revenue from Operations (₹ in Crores) EBITDA (₹ in Crores) Dividend (in ₹) 6,000 1,000 19.3% 20% 16 800% 762 874 14 14 14 4,882 900 814 14 700% 700% 4,807 19% 5,000 4,370 800 12 700% 700% 18.2% 12 600% 700 16.7% 18%
Slide 32: Profit and Loss
Profit and Loss Annual sales in 2024-25 were the highest in the Company’s history (₹ in Crores) Consolidated Standalone Year ended Year ended Year ended Year ended Particulars March 31, 2025 March 31, 2024 March 31, 2025 March 31, 2024 Revenue from Operations 5,186.47 5,059.10 4,876.14 4,806.77 Othe
Slide 33: Balance Sheet
Balance Sheet (₹ in Crores) Consolidated Standalone (₹ in Crores) Consolidated Standalone As at As at As at As at Particulars Particulars March 31, 2025 March 31, 2025 March 31, 2025 March 31, 2025 ASSETS EQUITY AND LIABILITIES EQUITY Non-current assets Equity Share Capital 14.02 14.02 Property, Pla
Slide 34: Cash Flow
Cash Flow Consolidated (₹ in Crores) Year ended Year ended Year ended Particulars March 31, 2025 March 31, 2024 March 31, 2023 Cash from Operating Activity 536.22 511.23 310.47 Cash from Investing Activity (397.12) (145.26) (207.67) Cash from Financing Activity (130.18) (192.95) (116.08) Net Cash Fl
Slide 35: Thank You
ratnamani.com info@ratnamani.com CIN : L70109GJ1983PLC006460 Registered Office: 17, Rajmugat Society, Naranpura Cross Roads, Ahmedabad 380 013, Gujarat, India Phone: +91 79 2741 5504/2747 8700 Fax: +91 79 2960 1210 Email: info@ratnamani.com THANK YOU For further information, please contact: Mr. Anil
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