Ratnamani Metals & Tubes Limited — PPTs, 10-11-2025: Investor Presentation

**Business Performance:** Ratnamani Metals & Tubes delivered a strong Q2 FY26. Consolidated revenue surged 23% YoY to ₹1,191.69 Cr, with profit after tax (PAT) reaching ₹156.04 Cr. This robust growth was primarily fueled by stellar contributions from key subsidiaries like Ravi Technoforge (bearing rings) and RFSS (pipe spools). Standalone revenue increased 5% to ₹939.56 Cr, maintaining profitability despite market conditions.

**Growth Drivers or Strategy:** The company is aggressively expanding, with new CSAW and HSAW pipe facilities in Kutch and a coating plant in Odisha, all projected for completion by December 2025/March 2026. A stainless steel manufacturing facility is also being set up in Saudi Arabia. Ratnamani is pioneering hydrogen-compliant carbon steel pipes, tapping into new energy market opportunities.

**Recent Developments:** Phase I of the Odisha Plant is operational, and the Kutch Plant received API Monogram certification and a National Award for Energy Management. The Saudi Arabia subsidiary has commenced its setup activities.

**Key Financial Metrics:** Q2 consolidated revenue stood at ₹1,191.69 Cr (+23% YoY), and consolidated PAT was ₹156.04 Cr. RFSS reports an order book exceeding ₹500 Cr, while Ravi Technoforge targets 15-20% annual growth.

**Management Commentary / Outlook:** Management is confident in sustained growth, citing strong order visibility and strategic expansion. Despite short-term market challenges, strong fundamentals and subsidiary growth targets (RFSS aims for ₹300+ Cr annual revenue) position the company well.