Ratnamani Metals & Tubes Limited — Credit Ratings, 12-06-2025: Credit Rating

Crisil Ratings has reaffirmed Ratnamani Metals and Tubes Limited’s long-term rating at Crisil AA with a positive outlook and its short-term rating at Crisil A1+. This reflects the company’s strong market position in stainless and carbon steel pipes, backed by diversified revenue and a healthy financial profile, including low leverage (debt/EBITDA at 0.17x) and strong interest coverage (23.6x). Despite a slight dip in EBITDA margin to 15.8%, revenues grew 3% to Rs 5,186 Cr. With a planned capex of Rs 1,600 Cr over FY26-27 mainly funded internally and a robust order book of about Rs 2,000 Cr, the ratings reaffirmation supports stable borrowing costs and sustained investor confidence due to solid liquidity and financial discipline.