Ratnaveer Precision Engineering Limited — Updates, 21-11-2024: Press Release

The half-year update reveals that Ratnaveer Precision Engineering is witnessing a steady recovery as demand has improved across both domestic and international markets. The domestic and export segments saw a sequential volume growth, particularly in the SS washer and Tube and Pipes divisions. During this period, the company reported a robust turnover of ₹436.12 crore, reflecting a substantial year-on-year increase of 66.75%. EBITDA and PAT grew impressively by 74.78% and 53.18%, respectively, showcasing strong operational efficiency with margins expected to improve due to a favorable product mix.

Ratnaveer is focusing on business expansion, having secured orders worth ₹180 crore anticipated for execution in the coming months. The first phase of capital expenditure is 80% complete with project commissioning set to begin in January 2025. Additionally, the company is exploring inorganic growth opportunities and has raised ₹95 crore through preferential allotments, with plans for further fundraising to support expansion and operational needs. Overall, there’s an optimistic outlook for revenue and operating profit growth, driven by the strengthening export markets and initiatives to diversify product lines.