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Rama Steel Tubes Results: Latest Quarterly Results & Analysis

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Rama Steel Tubes Ltd. 13 Aug 2025 12:29 PM
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Q1FY26 Quarterly Result Announced for Rama Steel Tubes Ltd.

Iron & Steel Products company Rama Steel Tubes announced Q1FY26 results

  • Revenue: Rs 2,536.52 million compared to Rs 1,598.36 million during Q1FY25, change 58.70%.
  • EBIDTA: Rs 115.09 million compared to Rs 63.32 million during Q1FY25, change 81.76%.
  • PAT: Rs 64.54 million compared to Rs 26.83 million during Q1FY25, change 140.55%.

Richi Bansal- Executive Director & CEO said: RSTL has delivered steady growth in volumes despite the volatile operating environment. During Q1FY26, on a standalone basis, Sales volumes have decreased by 3.94% on a QoQ basis as compared to Q4FY25. However, Sales volume has increased on a YoY basis by 60.87% from 28,370.01 tonne during 3MFY25 to 45,638.22 tonne during 3MFY26. The Volume growth shows steady demand in the different sectors.

EBIDTA has increased by 81.76% during Q1FY26 on a YoY basis and by 15.03% on a QoQ basis, attributed to much higher demand for the products and better price realisations.

Net profit has increased by 140.55% during Q1FY26 on a YoY basis and by 45.42% on a QoQ Basis. This is due to improved price realisation, a better product mix, an increase in the share of value-added products, and the implementation of better cost management practices.

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Iron & Steel Products company Rama Steel Tubes announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Total Revenue including other income stood at Rs 2,944.40 million
  • Total Sales Volume was 55,256.30 MT
  • EBIDTA came in at Rs 136.41 million
  • PAT Margin including OCI was Rs 67.63 million

FY25 Financial Highlights:

  • Total Income stood at Rs 10,648 million for FY25 compared to Rs 10,508 million for FY24
  • PAt stood at Rs 227 million for FY25 compared to Rs 299 million for FY24

Richi Bansal- Executive Director & CEO said that RSTL has delivered steady growth in volumes despite the volatile operating environment. During Q4FY25, Sales volumes have increased by 6.94% as compared to Q3FY25. Sales volume also increased on Y-o-Y basis by 9.27% from 1,78,644.50 Ton during 12MFY24 to 1,95,212.53 Ton during 12MFY25. The Volume growth shows steady demand in the different sectors.

EBIDTA has increased by 31.16% during Q4FY25 on QoQ basis attributed to much higher demand in the products and better price realizations.

Net profit has increased by 6.49% during Q4FY25 on QoQ basis. This is because of better price realization, better product mix, increase in share of value-added products and implementation of better cost management practices.

Result PDF

Iron & Steel Products company Rama Steel Tubes announced Q3FY25 results

  • Total Revenue (including other income) for Q3FY25 stood at Rs 2,804.60 crore, reflecting a 2.89% QoQ increase from Rs 2,723.49 crore in Q2FY25.
  • Total Sales Volume increased 1.47% QoQ to 51,669.01 MT in Q3FY25, compared to 50,921.67 MT in Q2FY25.
  • EBITDA improved 4.24% QoQ to Rs 104 crore in Q3FY25, from Rs 99.77 crore in Q2FY25.
  • PAT Margin (including OCI) saw a 39.24% QoQ growth, reaching Rs 63.51 crore in Q3FY25, compared to Rs 45.41 crore in Q2FY25.

Richi Bansal- Executive Director & CEO said that RSTL has delivered steady growth in volumes despite the volatile operating environment. During Q3FY25, Sales volumes have increased by 1.47% as compared to Q3FY24. Sales volume also increased on Y-o-Y basis by 7% from 131137.81 Ton during 9MFY24 to 139956.23 Ton during 9MFY25. The Volume growth shows steady demand in the different sectors.

Due to wide raw material price fluctuations, Revenues in value terms declined by 21.70% during the FY24 as compared to FY23.

EBIDTA has increased by 4.24% during Q3FY25 on QoQ basis.

Net profit has increased by 39.24% during Q3FY25 on QoQ basis. This is because of Finance cost decreased by 60% from Rs 72.67 million to Rs 28.72 million in Q3FY25 owing to efficient utilization of external funds, adoption of cash & carry model and better price negotiation with lenders.

Result PDF

Iron & Steel Products company Rama Steel Tubes announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Total Revenue including other Income amounted to Rs 2,686.86 crore.
  • Total Sales Volume for Q4FY24 stood at 47,506.68 MT.
  • EBIDTA for Q4FY24 reached Rs 139.68 crore.
  • PAT Margin for Q4FY24 was Rs 76.42.

FY24 Financial Highlights:

  • Total Revenue including other Income for FY24 amounted to Rs 10,508.30 crore.
  • Total Sales Volume for FY24 stood at 1,78,644.50 MT.
  • EBIDTA for FY24 reached Rs 644.19 crore.
  • PAT Margin for FY24 was Rs 299.97.

Richi Bansal- Executive Director said that RSTL has delivered steady growth in India volumes despite the volatile operating environment. In FY24, Sales volumes is down by 10% as compared to FY23. Sales volume declined YoY due to de-stocking of material in the expectation of correction in prices. In the first two months of Q4FY24, the global steel prices had suddenly fallen down by 12-13% from the peak levels.

Due to wide raw material price fluctuations, Revenues in value terms declined by 21.70% during the FY24 as compared to FY23. EBIDTA has increased by 7.57% during FY24 on YoY basis.

Net profit has increased by 9.39% during FY24 on YoY basis as compared to FY23.

Result PDF

Iron & Steel Products company Rama Steel Tubes announced Q3FY24 results:

Q3FY24 Financial Performance:

  • Total Revenue: The company reported a total revenue, including other income, of Rs 2,641.67 million, marking a QoQ increase of 29.20%.
  • Total Sales Volume: Rama Steel Tubes reached a total sales volume of 46,919.80 metric tons, which is a 31.11% increase compared to the previous quarter.
  • EBIDTA: The EBIDTA stood at Rs 191.97 million, witnessing a 42.26% increase in QoQ.
  • PAT Margin: The Profit After Tax (PAT) Margin, including Other Comprehensive Income (OCI), reached Rs 86.61 million, a significant QoQ rise of 93.93%.

9MFY24 Financial Performance:

  • Total Revenue: In a nine-month comparison, the total revenue decreased by 17.64% to Rs 7821.43 million.
  • Total Sales Volume: Sales volume saw a slight decline of 0.52%, totaling 1,31,138 metric tons.
  • EBIDTA: The EBIDTA for the nine months increased by 39.34% compared to the previous year, amounting to Rs 498.31 million.
  • PAT Margin: Net profit including OCI observed an 8.43% increase year-over-year, totaling Rs 200.07 million.

Business Strategy and Updates:

  • Rama Steel Tubes decided to rescind the proposed Scheme of Arrangement for amalgamating Lepakshi Tubes Private Limited with Rama Steel Tubes Limited, prioritizing separate operations for competitive advantage.
  • The company experienced warrant forfeiture from "The Great International Tusker Fund" due to non-receipt of due amount, resulting in 16,55,760 warrants being forfeited. Forfeited amount of Rs 316.25 Lakh was transferred to "Capital Reserve" under Other Equity.
  • After warrant conversion into equity shares, 36,00,000 Equity Shares were allotted on October 11, 2023, along with bonus shares to the warrant holders.

Richi Bansal, Executive Director, said, "RSTL has delivered steady growth in India volumes despite the volatile operating environment. In 9MFY24, Sales volumes are almost unchanged as compared to 9MFY23. In Q3FY24, Sales volumes and revenue increased respectively by 31.11% and 29.20% as compared to Q2FY24 however in Q3FY24, sales volume declined YoY due to the de-stocking of material in the expectation of correction in prices. In the first two months of Q3FY24, the global steel prices had suddenly fallen by 12-13% from the peak levels.

Due to wide raw material price fluctuations, Revenues in value terms declined by 17.64% during 9MFY24 as compared to 9MFY23.

EBIDTA has increased by 25.69% and 39.34% respectively during Q3FY24 and 9MFY24 on YoY basis."

 

 

Result PDF

Rama Steel Tubes announced Q1FY24 results:

  • Revenue from Operations grew by 30.20% from Rs 2,400.25 million in Q1FY23 to Rs 3,125.16 million in Q1FY24. This growth was led by robust demand for our products in the domestic market as reflected through the sales volume growth of 62.35% on a YoY basis from 29,834 MT in Q1FY23 to 48,437 MT in Q1FY24.
  • EBITDA increased by 71.60% from Rs 99.88 million in Q1FY23 to Rs 171.40 million in Q1FY24 led by an increase in the contribution of value-added products, increasing scale of operations, and improved manufacturing efficiency.
  • EBITDA Margins increased by 138 bps from 4.10% in Q1FY23 to 5.48% in Q1FY24.
  • PAT increased by 76.15% from Rs 42.34 million in Q1FY23 to Rs 74.58 million in Q1FY24.
  • PAT Margins increased on YoY basis at 2.38% in Q1FY24 against 1.74% in Q1FY23.

Commenting on the performance of Q1FY24, the management team of RSTL said, 

“We are happy to share with you our robust financial and business performance for Q1FY24. Our revenue from operations increased by 30.20% from Rs 2,400.25 million in Q1FY23 to Rs 3,125.16 million in Q1FY24. Our EBITDA margins showcased a healthy increase from 4.10% in Q1FY23 to 5.48% in Q1FY24 and PAT margins stood at 2.38% in Q1FY24 compared to 1.74% in Q1FY23.

We are thrilled to announce a significant 62.35% growth in our sales volume in the first quarter of FY24 compared to last year. This remarkable sales performance was led by increasing demand for steel tubes and pipes across various industries coupled with our proactive approach of strategically capitalizing on upcoming opportunities enabling us to grow our market presence. However, the downward pressure on steel prices and the increase in the supply of Chinese steel in India did act as a bump in the road for us causing some margin pressure. We expect steel prices to stabilize by the end of FY24.

We have entered into a significant and noteworthy partnership with JSW Steel, a leading Indian steel manufacturer. This collaboration encompasses various aspects, including the procurement of substantial 1,00,000 tons of Hot Rolled Coils (HRC) from JSW Steel on a nationwide scale, distribution of HRC throughout the entire western region of the country, and joining forces with JSW Coated Limited providing us an opportunity to produce and brand pre-galvanized pipes under the esteemed JSW Kalinga brand. This strategic alliance will lead to numerous competitive advantages, as it will grant us access to top-quality raw materials at competitive prices. Secondly, it will enable us to enhance our raw material procurement process, ensuring timely and efficient sourcing and boosting our supply chain management capabilities, ultimately leading to streamlined operations and improved overall efficiency. Thirdly, we will enjoy the patronage and will leverage the RSTL’s and JSW’s combined brand strength to make significant strides in gaining market share in the upcoming quarters.

Looking ahead, we are confident to achieve growth and success in coming quarters based on the robust demand for steel products, structural shi towards steel tubes and pipes from conventional products, robust government push, and positive economic growth demonstrated by India, and favourable market conditions. Lastly, we thank our stakeholders for believing in us and standing tall with us in all situations.”

 

Result PDF

Rama Steel Tubes announced Q2FY23 results:

  • Q2FY23 consolidated:
    • Total revenue of Rs 3,500.79 million for Q2FY23 showing robust growth of 78.64% as against Rs 1,959.66 million in Q2FY22
    • Total sales volume of 48,774.67 MT for Q2FY23 showing impressive growth of 82.89% as against 26,668.58 MT in Q2FY22
    • EBIDTA stood Rs 109.96 million in Q2FY23 against Rs 121.84 million in Q2FY22
    • PAT margin (including OCI) stood Rs 55.72 million in Q2FY23 against Rs 69.71 million in Q2FY22
  • H1FY23 consolidated:
    • Total revenue of Rs 5,937.01 million for H1FY23 showing robust growth of 75.37% as against Rs 3,385.44 million in HIFY22
    • Total sales volume of 78,608.63 MT for H1FY23 showing an impressive growth of 68.33% as against 46,698.18 MT in HIFY22
    • EBIDTA stood Rs 209.14 million in HIFY23 against Rs 242.99 million in HIFY22
    • PAT margin (including OCI) stood Rs 104.32 million in HIFY23 against Rs 139.96 million in HIFY22

Commenting on performance: "We have reported a strong H1FY23 with the growth in revenue from operations being 75.37% and growth in sales volume of 68.33% on a Y-o-Y basis. There is growth in demand of our products having the highest level of quality and our ability to cater the needs of all our customers on timely basis. 

The announcement of huge government projects like UPPCL, Jal Shakti Abhyaan in the infrastructure sector & various public sector projects has boosted demand for our products significantly. We are also in process of entering into certain niche segments like supply of steel pipes and tubes to City Gas Distribution and solar energy power generation units. We plan to dedicate at least 25% of our production capacity of 3,00,000 MT to cater to the demand of the Government sector in the coming years, which is having an EBITA margin of 9%-10%, thereby significantly improving our overall margins. From the facility, in the process of being set up, in Nigeria, we have already signed purchase agreement of 15,000 MT p.a. for supply of specialty steel from Huihai Group Ltd, Hong Kong. The potential market size for specialty steel in Nigeria is 50,000 MTPA and we are happy to cater almost 1/3rd of the total market size.

On the expansion front, we are in process of modernization of our plant located at Sahibabad, Uttar Pradesh with a major goal of de-bottlenecking operations; which will result in increasing our yield per tonne of finished products. The 1st phase of this modernization is expected to be completed by Q3 of the Fiscal Year 2023. Our efforts of backward integration at our plant in Anantpur District, Andhra Pradesh wherein we are in process of cold rolling and galvanizing steel sheets will lead to in-house raw material support of 50,000 MT in the upcoming years. With the expansion of Khopoli plant by 30,000 MT and the setting up of a facility in Nigeria by our step-down subsidiary, we expect our total capacity to increase to 3,00,000 MT by end of FY23. Further to this, we are in process of adding 10 SKUs to our repertoire on a monthly basis, projecting a total of 700 SKUs being produced in period of 2 years. This will strengthen our relationships with distributors by offering a complete range of products and make RSTL one of the leading suppliers of steel pipes and tubes in the forthcoming years.

Moreover, our recent efforts at backward integration are expected to reduce dependency on external raw material suppliers. Further, even in such a difficult market, we were able to procure large orders and expect to procure more of such orders."

Result PDF

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