RAMASTEEL
Rama Steel Tubes Limited
ERW steel tubes and building materials trader
Industrials›Capital Goods›Industrial Products›Iron & Steel Products
ramasteel.com(opens the company website in a new tab)Key metrics
Price as of 2026-10-16
Stock price
₹3.93
Market cap
643 Cr
Stock P/E
49.6
P/B
1.35
Dividend yield
0.1%
ROE (FY26)
2.6%
ROCE (FY26)
4.9%
Operating margin (FY26)
1.0%
Debt / equity (FY26)
0.27
OCF / EBITDA (3Y)
-92.2%
Full years shown; sign in free for the trailing twelve months. Learn about these metrics →
Price & valuation
Share price and valuation multiples (P/E, P/B and more) over time.
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Compare with peers
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What you need to know
Rama Steel Tubes (RSTL) makes electric resistance welded (ERW) steel tubes and pipes, black and galvanised, and also trades building materials and steel products.
Company snapshot
48thBy market cap
Ranked among 64 companies in Iron & Steel Products.
Segment mix
Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.
Largest segment: 80.9% of revenue
| Segment | Revenue share | Revenue | PBT | Assets |
|---|---|---|---|---|
| Manufacturing - Steel Pipe | 80.9% | 223 Cr | 2 Cr | 423 Cr |
| Trading- Building Material & Steel Products | 19.1% | 53 Cr | 2 Cr | 303 Cr |
| Unallocated Segment | — | 0 Cr | 0 Cr | 0 Cr |
What we see
Positives
- ✓Debt-to-equity of 0.27x — the company is largely funded by its own money, not borrowed funds.
Concerns
- ✗Net margin is very thin at 1.0% — little room for error if costs rise.
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Statement tables · Consolidated
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 203 Cr | 262 Cr | 268 Cr | 217 Cr | 263 Cr | 275 Cr | 293 Cr | 268 Cr | 320 Cr | 289 Cr | 246 Cr | 223 Cr |
| Operating expenses (approx.) | 191 Cr | 245 Cr | 255 Cr | 205 Cr | 262 Cr | 270 Cr | 281 Cr | 267 Cr | 316 Cr | 283 Cr | 242 Cr | 217 Cr |
| EBITDA | 12 Cr | 17 Cr | 13 Cr | 11 Cr | 0.58 Cr | 5 Cr | 12 Cr | 2 Cr | 5 Cr | 6 Cr | 4 Cr | 6 Cr |
| OPM % | 6.1% | 6.6% | 5.0% | 5.3% | 0.2% | 1.8% | 4.1% | 0.6% | 1.5% | 2.2% | 1.7% | 2.7% |
| Other income | 1 Cr | 2 Cr | 0.42 Cr | 0.94 Cr | 9 Cr | 5 Cr | 1 Cr | 10 Cr | 2 Cr | 2 Cr | 4 Cr | 1 Cr |
| Interest | 4 Cr | 7 Cr | 3 Cr | 3 Cr | 3 Cr | 3 Cr | 3 Cr | 3 Cr | 3 Cr | 3 Cr | 3 Cr | 2 Cr |
| Depreciation | 1 Cr | 1 Cr | 1 Cr | 2 Cr | 1 Cr | 1 Cr | 1 Cr | 1 Cr | 1 Cr | 1 Cr | 1 Cr | 2 Cr |
| Profit before tax | 8 Cr | 10 Cr | 10 Cr | 7 Cr | 6 Cr | 6 Cr | 9 Cr | 7 Cr | 2 Cr | 4 Cr | 4 Cr | 4 Cr |
| Tax % | 18.0% | 13.3% | 21.1% | 16.3% | 27.1% | 9.9% | 28.7% | 31.1% | 57.7% | 57.8% | -4.0% | -43.1% |
| Net profit | 7 Cr | 9 Cr | 8 Cr | 6 Cr | 4 Cr | 6 Cr | 7 Cr | 5 Cr | 1 Cr | 2 Cr | 4 Cr | 5 Cr |
| EPS (₹) | ₹0.09 | ₹0.18 | ₹0.12 | ₹0.04 | ₹0.03 | ₹0.04 | ₹0.08 | ₹0.03 | ₹0.04 | ₹0.01 | ₹0.03 | ₹0.03 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | — | 382 Cr | 504 Cr | 353 Cr | 470 Cr | 768 Cr | 1,337 Cr | 1,047 Cr | 1,048 Cr | 1,124 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | — | 360 Cr | 488 Cr | 344 Cr | 452 Cr | 726 Cr | 1,285 Cr | 987 Cr | 1,019 Cr | 1,107 Cr | Sign in free for the trailing twelve months |
| EBITDA | — | 22 Cr | 16 Cr | 9 Cr | 18 Cr | 43 Cr | 51 Cr | 59 Cr | 29 Cr | 17 Cr | Sign in free for the trailing twelve months |
| OPM % | — | 5.8% | 3.3% | 2.5% | 3.9% | 5.5% | 3.8% | 5.7% | 2.8% | 1.5% | Sign in free for the trailing twelve months |
| Other income | — | 5 Cr | 3 Cr | 4 Cr | 3 Cr | 9 Cr | 7 Cr | 4 Cr | 17 Cr | 18 Cr | Sign in free for the trailing twelve months |
| Interest | — | 7 Cr | 9 Cr | 10 Cr | 8 Cr | 11 Cr | 20 Cr | 21 Cr | 12 Cr | 12 Cr | Sign in free for the trailing twelve months |
| Depreciation | — | 2 Cr | 3 Cr | 3 Cr | 3 Cr | 4 Cr | 5 Cr | 6 Cr | 6 Cr | 6 Cr | Sign in free for the trailing twelve months |
| Profit before tax | — | 18 Cr | 9 Cr | 3 Cr | 11 Cr | 36 Cr | 35 Cr | 38 Cr | 29 Cr | 17 Cr | Sign in free for the trailing twelve months |
| Tax % | — | 31.1% | 10.9% | 59.2% | 8.1% | 24.0% | 21.5% | 20.1% | 21.2% | 37.3% | Sign in free for the trailing twelve months |
| Net profit | — | 13 Cr | 8 Cr | 1 Cr | 11 Cr | 27 Cr | 27 Cr | 30 Cr | 23 Cr | 11 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | — | ₹7.62 | ₹4.99 | ₹0.93 | ₹6.52 | ₹16.41 | ₹1.22 | ₹0.50 | ₹0.30 | ₹0.08 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | — | 0.0% | 3.1% | 0.0% | 0.0% | 0.0% | 0.0% | Sign in free for the trailing twelve months |
Sign in free for the trailing twelve months
The latest four quarters added up, next to each full year
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 8 Cr | 8 Cr | 8 Cr | 8 Cr | 8 Cr | 8 Cr | 47 Cr | 154 Cr | 155 Cr | 164 Cr |
| Reserves | 44 Cr | 70 Cr | 79 Cr | 80 Cr | 90 Cr | 118 Cr | 204 Cr | 181 Cr | 209 Cr | 314 Cr |
| Borrowings | 55 Cr | 60 Cr | 87 Cr | 80 Cr | 82 Cr | 138 Cr | 193 Cr | 144 Cr | 88 Cr | 129 Cr |
| Other liabilities | 28 Cr | 14 Cr | 28 Cr | 70 Cr | 67 Cr | 94 Cr | 239 Cr | 243 Cr | 297 Cr | 279 Cr |
| Total liabilities | 135 Cr | 153 Cr | 202 Cr | 238 Cr | 247 Cr | 358 Cr | 695 Cr | 734 Cr | 758 Cr | 890 Cr |
| Fixed assets (net) | 22 Cr | 38 Cr | 38 Cr | 36 Cr | 46 Cr | 50 Cr | 72 Cr | 75 Cr | 70 Cr | 75 Cr |
| CWIP | 1 Cr | — | 0.93 Cr | 7 Cr | 4 Cr | 6 Cr | 1 Cr | 0.96 Cr | 10 Cr | 4 Cr |
| Investments | 2 Cr | 2 Cr | 8 Cr | 11 Cr | 12 Cr | 12 Cr | 17 Cr | 10 Cr | 8 Cr | 15 Cr |
| Inventories | 51 Cr | 34 Cr | 51 Cr | 54 Cr | 73 Cr | 101 Cr | 197 Cr | 132 Cr | 127 Cr | 131 Cr |
| Trade receivables | 33 Cr | 38 Cr | 64 Cr | 72 Cr | 52 Cr | 106 Cr | 233 Cr | 217 Cr | 243 Cr | 302 Cr |
| Cash & bank | 8 Cr | 10 Cr | 7 Cr | 13 Cr | 22 Cr | 19 Cr | 13 Cr | 17 Cr | 6 Cr | 5 Cr |
| Other assets | 17 Cr | 31 Cr | 32 Cr | 46 Cr | 38 Cr | 65 Cr | 162 Cr | 282 Cr | 293 Cr | 358 Cr |
| Total assets | 135 Cr | 153 Cr | 202 Cr | 238 Cr | 247 Cr | 358 Cr | 695 Cr | 734 Cr | 758 Cr | 890 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | -7 Cr | 5 Cr | -17 Cr | 30 Cr | 25 Cr | -35 Cr | -96 Cr | 18 Cr | -6 Cr | -109 Cr |
| Cash from investing | -1 Cr | -9 Cr | -3 Cr | -7 Cr | -10 Cr | -9 Cr | -53 Cr | -0.78 Cr | 40 Cr | -9 Cr |
| Cash from financing | 10 Cr | 6 Cr | 17 Cr | -17 Cr | -6 Cr | 41 Cr | 143 Cr | -13 Cr | 74 Cr | 118 Cr |
| Net cash flow | 1 Cr | 2 Cr | -3 Cr | 6 Cr | 9 Cr | -3 Cr | -6 Cr | 5 Cr | 107 Cr | -0.11 Cr |
| Free cash flow (OCF − Capex) | -20 Cr | -6 Cr | — | 23 Cr | 14 Cr | -46 Cr | -156 Cr | 6 Cr | -6 Cr | -116 Cr |
Ratios
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | — | 18.0% | 10.8% | 7.4% | 10.9% | 17.7% | 12.1% | 12.0% | 8.8% | 4.9% |
| ROE % | — | 16.1% | 9.6% | 1.3% | 11.2% | 21.6% | 10.1% | 8.4% | 6.1% | 2.6% |
| Debtor days | — | 36 | 47 | 75 | 40 | 50 | 63 | 76 | 84 | 98 |
| Inventory days | — | 42 | 50 | 76 | 92 | 75 | 77 | 57 | 59 | 70 |
| Days payable | — | 6 | 19 | 83 | 67 | 52 | 85 | 99 | 133 | 141 |
| Cash conversion cycle | — | 73 | 77 | 67 | 66 | 74 | 56 | 33 | 11 | 27 |
| OCF / EBITDA % | — | 21.8% | -105.7% | n.m. | 135.0% | -82.2% | -187.0% | 30.5% | n.m. | n.m. |
| OCF / EBITDA % (3 years) | — | — | — | 36.5% | 85.7% | 28.2% | -94.6% | -73.7% | -60.5% | -92.2% |
| Debt / equity | 1.04 | 0.77 | 1.00 | 0.90 | 0.83 | 1.09 | 0.77 | 0.43 | 0.24 | 0.27 |
| Current ratio | 1.53 | 1.91 | 1.60 | 1.34 | 1.45 | 1.37 | 1.35 | 1.68 | 1.66 | 1.80 |
| Net debt / EBITDA | — | — | 4.86 | 7.68 | 3.25 | 2.80 | 3.50 | 2.14 | 2.84 | 7.26 |