Rama Steel Tubes Ltd
NSE: RAMASTEEL BSE: 539309Metal
Incorporated in 1974, Rama steel tubes is one of the leading manufacturers of Steel Pipes & Tubes, Rigid PVC & G.I. Pipes and square section products in India. [1]
₹5.09
52W: ₹3.43 — ₹14.9
PE 47.5 · Book ₹2.53 · +101% vs bookMarket Cap₹833 Cr
Stock P/E47.5Price to Earnings
ROCE4.58%Return on Capital
ROE2.6%Return on Equity
Div. Yield0%Face Value ₹1
Strengths
- +Company has reduced debt.
Weaknesses
- −Though the company is reporting repeated profits, it is not paying out dividend
- −Promoter holding has decreased over last quarter: -1.87%
- −Company has a low return on equity of 6.45% over last 3 years.
- −Earnings include an other income of Rs.19.1 Cr.
- −Debtor days have increased from 58.4 to 73.1 days.
Shareholding Pattern
Promoters35.89%
FIIs5.71%
DIIs0%
Public58.39%
| Category | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 56.33% | 47.97%▼8.4 | 47.97% | 47.97% | 47.84%▼0.1 | 37.76%▼10.1 | 37.76% | 35.89%▼1.9 |
| FIIs | 0.05% | 0.17%▲0.1 | 0.07%▼0.1 | 0.44%▲0.4 | 0.46%▲0.0 | 5.45%▲5.0 | 5.73%▲0.3 | 5.71%▼0.0 |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 43.61% | 51.87%▲8.3 | 51.98%▲0.1 | 51.6%▼0.4 | 51.7%▲0.1 | 56.79%▲5.1 | 56.52%▼0.3 | 58.39%▲1.9 |
Financial Statements
| Metric | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 155.63 | 211.45 | 207.7 | 158.3 | 219.58 | 224.75 | 237.4 | 242.67 | 279.15 | 244.02 |
| Expenses | 149.35 | 199.85 | 199.43 | 153.51 | 222.85 | 223.41 | 229.86 | 242.15 | 275.4 | 239.18 |
| Operating Profit | 6.28 | 11.6 | 8.27 | 4.79 | -3.27 | 1.34 | 7.54 | 0.52 | 3.75 | 4.84 |
| OPM % | 4.04% | 5.49% | 3.98% | 3.03% | -1.49% | 0.6% | 3.18% | 0.21% | 1.34% | 1.98% |
| Net Profit | 4 | 5.7 | 7.29 | 2.58 | 2.92 | 4.06 | 4.44 | 6.45 | 2.84 | 3.77 |
| EPS ₹ | 0.03 | 0.04 | 0.05 | 0.02 | 0.02 | 0.03 | 0.03 | 0.04 | 0.02 | 0.02 |
AI Insights
Revenue Trend
TTM revenue at ₹1,003Cr, up 19.4% YoY. OPM at 2%.
Debt Position
Borrowings at ₹75Cr. Debt-to-equity ratio: 0.30x. Healthy balance sheet.
Capex Cycle
CWIP at ₹3Cr (4% of fixed assets). Moderate ongoing capital expenditure.
Institutional Flow
DIIs: 0% (-0.63pp change). FIIs: 5.71% (+3.55pp change). Promoters hold 35.89%.
Margin & Efficiency
ROCE declining from 11% (Mar 2014) to 5% (Mar 2025). Working capital days: 75.
Valuation
PE 47.5x with 4.58% ROCE. Price is 101% above book value of ₹2.53. Dividend yield: 0%.
Recent Announcements
- Announcement under Regulation 30 (LODR)-Preferential Issue 25 Apr - Rama Steel withdraws 15.34 crore-share preferential issue for 21.62% Automech stake acquisition.
- Rama Steel Tubes Limited Has informed About Action(S) Taken Or Orders Passed. 15 Apr - SEBI issued an administrative warning letter on April 2, 2026 for alleged PIT non-compliances in FY23.
- Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 9 Apr - Submitted Regulation 74(5) certificate for quarter ended March 31, 2026.
- Announcement under Regulation 30 (LODR)-Press Release / Media Release 2 Apr - Rama Steel Tubes reported Q4FY26 volume of 43,178.42 tons and FY26 volume of 215,114.20 tons, up 10.20% YoY.
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 1 Apr
- Financial Year 2025 from bse
- Financial Year 2024 from bse
- Financial Year 2023 from bse