Ratnamani Metals & Tubes (520111) Q4 94/95 earnings summary

Executive summary

• FY95 sales and other income reached Rs. 3,444.58 lakh; profit after tax rose to Rs. 178.81 lakh from Rs. 128.28 lakh in FY94.

• Production increased 14.6% to 2,434 MT; net sales rose 13.4%, and exports including deemed exports reached Rs. 840 lakh versus Rs. 534 lakh.

• The product portfolio spans stainless steel welded and seamless pipes and tubes, carbon steel products, pressure-vessel pipes, heat exchangers and instrumentation tubing.

Financial highlights

• Sales and other income: Rs. 3,444.58 lakh in FY95 versus Rs. 3,170.18 lakh in FY94; net sales were Rs. 3,421.09 lakh versus Rs. 3,016.82 lakh.

• Profit before tax was Rs. 178.81 lakh versus Rs. 155.28 lakh; profit after tax was Rs. 178.81 lakh versus Rs. 128.28 lakh, with no FY95 tax provision.

• Net sales tonnage rose to 2,180 MT from 2,071 MT; production increased to 2,434 MT from 2,124 MT.

• Exports including deemed exports were Rs. 840 lakh versus Rs. 534 lakh; FOB exports were Rs. 112.66 lakh versus Rs. 103.96 lakh.

Outlook and guidance

• Two Pilger Mills commissioned during FY95 are expected to increase high-value stainless steel seamless pipe production, alongside four mills commissioned in FY94.

• Separate divisions were planned for stainless steel instrumentation tubes and large-diameter stainless steel EFSW pipes; project costs were expected to be funded partly by internal accruals and financial-institution loans.

• Planned technology upgrades and capacity expansion were intended to broaden supply for customer requirements across core-sector projects.