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Ratnamani Metals & Tubes (520111) investor relations material
Ratnamani Metals & Tubes Q2 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Consolidated Q2 FY26 revenue rose 23% year-over-year to ₹1,191.7 crore, driven by strong subsidiary contributions, especially from bearing rings and pipe spool businesses.
Standalone sales were ₹940 crore, a 5% increase over last year, maintaining profitability despite lower realizations.
Operational efficiency and cost control supported stable margins amid input price pressures.
Key milestones included commissioning Odisha Plant Phase I, supplying hydrogen-compliant pipes to Europe, and Kutch Plant receiving API Monogram and energy award.
Strategic transactions included acquiring the remaining 40% of Ratnamani Trade EU AG and restructuring Ravi Technoforge shareholding to 75%.
Financial highlights
Consolidated EBITDA grew to ₹238.2 crore (20% margin), up from ₹173.1 crore (17.8%) year-over-year.
Net profit for Q2 FY26 was ₹19,320.97 lakh, compared to ₹9,204.58 lakh in Q2 FY25.
Subsidiary Ravi Technoforge revenue grew 40% to ₹95.6 crore, with improved EBITDA margin; RFSS revenue reached ₹110 crore.
H1 2025-26 consolidated revenue was ₹2,343.3 crore, up from ₹2,155 crore year-over-year.
Earnings per share (EPS) for Q2 FY26 was ₹19.43 (basic), up from ₹14.17 in Q2 FY25.
Outlook and guidance
Subsidiary Ravi Technoforge targets 15%-20% annual growth over the next 2-3 years, supported by strong order visibility.
RFSS maintains full-year revenue guidance of ₹300 crore+; capacity expansion to enable ₹600-650 crore revenue at peak utilization.
Consolidated revenue target of ₹7,000-7,500 crore in 2-3 years, with mid-teens margins.
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