Ratnamani Metals & Tubes (520111) Q4 24/25 earnings summary

Executive summary

• Achieved record sales in Q4 and FY 2025, with Q4 standalone sales at INR 1,575 crore (up 11% YoY) and full-year consolidated turnover at INR 5,186 crore (up 1% YoY), despite earlier softness in metal prices and project delays.

• Audited standalone and consolidated financial results for the quarter and year ended March 31, 2025, were approved, with auditors issuing an unmodified opinion.

• Board recommended a final dividend of INR 14.00 per equity share (700%) for FY 2024-25, subject to shareholder approval at the 41st AGM.

• Q4 growth driven by high-value-added products, improving profitability and margins.

• Subsidiaries Ravi Technoforge and Ratnamani Finow Spooling Solutions reported strong sales growth and robust order books.

Financial highlights

• Standalone Q4 sales: INR 1,575 crore (+11% YoY); full-year consolidated turnover: INR 5,186 crore (+1% YoY).

• Standalone revenue from operations for FY 2024-25 was ₹4,87,614.08 lakhs, up from ₹4,80,677.26 lakhs YoY; consolidated revenue was ₹5,18,647.39 lakhs, up from ₹5,05,909.63 lakhs.

• Standalone net profit for FY 2024-25 was ₹57,800.96 lakhs; consolidated net profit was ₹62,510.05 lakhs.

• Gross profit and EBITDA margin improved by 3% and 2% in Q4 YoY; full-year gross profit margin at 34%, EBITDA declined marginally by 1%.

• Earnings per share (EPS) for FY 2024-25: Standalone ₹82.46, Consolidated ₹89.18.

Outlook and guidance

• Order book as of March 31: INR 2,100 crore (55% export, 45% domestic), executable in 4-5 months.

• Volume growth guidance for FY 2026: 5%-10%.

• EBITDA margin guidance for FY 2026: 16%-18% for standalone pipe business; spooling business targets 20% EBITDA margin.

• Board recommended enabling resolution for issuance of NCDs/Bonds up to ₹500 crores via private placement, subject to shareholder approval.

• Dividend record date set for September 2, 2025; payment by October 8, 2025, if approved.