Rama Steel Tubes Limited
NSE: RAMASTEEL · Iron & Steel Products · sector
₹3.70NSE close 2026-10-26
Key numbers
Market cap₹605 cr
Price₹3.70
52w high / low₹11 / ₹3
P/E33.6xSector median 15.5x
P/B1.3xSector median 1.7x
Book value₹2.9
Dividend yield–Sector median 0.60%
ROE3.1%Sector median 11.1%
ROCE4.1%Sector median 11.9%
OPM2.0%Sector median 6.7%
Debt / equity0.27xSector median 0.21x
EV/EBITDA33.9xSector median 11.8x
Interest cover2.2x
Current ratio1.80x
Sales growth 3y-5.6%Sector median +2.1%
Profit growth 3y-22.1%Sector median +13.0%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 118 companies in Iron & Steel Products (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹5 cr vs borrowings ₹129 cr (FY26): borrowings are higher by ₹123 cr.
- Operating profit covered interest 2.2x in the last 12 months.
- Promoter holding fell by 3.83 percentage points in a year, to 33.93% (2026-09-30).
- Operating cash flow was below net profit in 4 of the last 5 years (FY26, FY24, FY23, FY22).
- Revenue was higher than a year earlier in 2 of the last 4 quarters.
- Other income was 71% of net profit in the last 12 months.
- Debtor days went from 76 (FY24) to 98 (FY26).
- Dividend paid in 1 of the last 5 financial years.
- Price ₹3.70 on 2026-10-26: -67.2% from the 52-week high, +7.9% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹14.89 · low ₹3.70
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 263 | 275 | 293 | 268 | 320 | 289 | 246 | 223 |
| EBITDA | 1 | 5 | 12 | 2 | 5 | 6 | 4 | 6 |
| OPM % | 0.2% | 1.8% | 4.1% | 0.6% | 1.5% | 2.2% | 1.7% | 2.7% |
| Other income | 9 | 5 | 1 | 10 | 2 | 2 | 4 | 1 |
| Net profit | 4 | 6 | 7 | 5 | 1 | 2 | 4 | 5 |
| EPS (₹) | 0.03 | 0.04 | 0.04 | 0.03 | 0.04 | 0.01 | 0.03 | 0.03 |
| Revenue YoY | +21.8% | +5.2% | -16.0% | -16.7% | ||||
| Profit YoY | -65.7% | -60.5% | -37.4% | -3.9% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 768 | 1,337 | 1,047 | 1,048 | 1,124 | 1,079 |
| EBITDA | 43 | 51 | 59 | 29 | 17 | 22 |
| Net profit | 27 | 27 | 29 | 23 | 13 | 13 |
| EPS (₹) | 5.47 | 0.41 | 0.50 | 0.15 | 0.08 | 0.11 |
| Revenue growth | +74.0% | -21.7% | +0.1% | +7.3% | -1.8% | |
| Profit growth | -2.4% | +9.2% | -21.9% | -44.7% | -40.3% | |
| Dividend / share (₹) | 0.50 | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | -5.6% | +19.0% | -1.8% |
| Net profit | -22.2% | +2.5% | -40.3% |
| EPS | -41.8% | -48.3% | – |
| Share price | – | -45.2% (2y) | -62.7% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 250 | 335 | 364 | 477 |
| Borrowings | – | 193 | 144 | 88 | 129 |
| Cash & equivalents | – | 13 | 17 | 6 | 5 |
| Total assets | – | 695 | 734 | 758 | 890 |
| Fixed assets | – | 72 | 75 | 70 | 75 |
| Capital work in progress | – | 1 | 1 | 10 | 4 |
| Investments | – | 13 | 6 | 5 | 11 |
| Receivables | – | 233 | 217 | 243 | 302 |
| Inventory | – | 197 | 132 | 127 | 131 |
| Payables | – | 216 | 229 | 286 | 263 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | -35 | -96 | 18 | 51 | -109 |
| Cash from investing | -9 | -53 | -1 | 3 | -9 |
| Cash from financing | 41 | 143 | -13 | -66 | 118 |
| Capex | 11 | 32 | 13 | 14 | 8 |
| Free cash flow | -46 | -128 | 6 | 37 | -116 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 10.7% | 8.7% | 6.2% | 2.6% |
| ROCE % | – | 12.1% | 12.1% | 8.8% | 4.9% |
| Debtor days | – | 64 | 76 | 85 | 98 |
| Inventory days | – | 58 | 51 | 47 | 45 |
| Payable days | – | 63 | 88 | 106 | 90 |
| Cash conversion cycle (days) | – | 59 | 39 | 26 | 53 |
| Working capital days | – | 38 | 84 | 87 | 93 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 33.93% |
| FIIs | 2.67% |
| Public (non-institutions) | 63.40% |
| Quarter | Mar 2025 | Jun 2025 | Sep 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 47.96% | 47.84% | 37.76% | 37.76% | 37.76% | 35.89% | 34.18% | 33.93% |
| Promoter group | % |
|---|---|
| Naresh Kumar Bansal | 17.42% |
| Nikhil Naresh Bansal | 6.22% |
| Kumud Bansal | 3.17% |
| Richi Bansal | 2.92% |
| Krati Bansal | 2.06% |
| TARUN DHIR (Partner of M/s Arun Enterprises) | 1.26% |
| Kanika Bansal | 0.51% |
| Charanjit LAL Dhir | 0.23% |
| TARUN DHIR (Partner of M/s Dhir Enterprises) | 0.14% |
| Sangeeta Dhir | 0.01% |
| Arun Dhir | 0.00% |
| Tarun Dhir | 0.00% |
| Prem Dhir | 0.00% |
| Public holders above 1% | % |
|---|---|
| Minerva Ventures Fund | 2.44% |
| Murli Infratech LLP | 1.71% |
7,96,981 shareholders. Pledged: – of promoter shares.
Peers in Iron & Steel Products
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| WELCORP | ₹61,798 cr | 26.7x | 6.8x | 27.8% | 19.2% | 13.9% | +19.8% | 0.21% |
| APLAPOLLO | ₹57,703 cr | 46.9x | 10.9x | 25.9% | 30.1% | 8.0% | +12.6% | 0.28% |
| SHYAMMETL | ₹31,351 cr | 28.0x | 2.7x | 7.8% | 14.2% | 12.9% | +13.7% | 0.36% |
| RATNAMANI | ₹16,345 cr | 37.8x | 4.0x | 11.2% | 15.7% | 16.7% | +0.1% | 0.60% |
| JINDALSAW | ₹14,824 cr | 26.9x | 1.2x | 4.4% | 7.2% | 9.5% | +0.1% | 0.86% |
| USHAMART | ₹14,192 cr | 27.9x | 4.3x | 16.8% | 20.1% | 19.6% | +4.1% | 0.64% |
| GALLANTT | ₹12,989 cr | 31.9x | 3.7x | 12.4% | 14.2% | 13.8% | +3.1% | 0.08% |
| GPIL | ₹11,769 cr | 14.6x | 2.0x | 15.1% | 18.7% | 21.4% | -2.2% | 0.54% |
| JAYNECOIND | ₹8,607 cr | 12.5x | 2.6x | 23.4% | 25.6% | 18.9% | +4.0% | – |
| RAMASTEEL | ₹605 cr | 33.6x | 1.3x | 3.1% | 4.1% | 2.0% | -5.6% | – |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Manufacturing- Steel Pipes | ₹656 cr | 58.4% | ₹15 cr | 2.3% |
| Trading- Building Material & Steel Products | ₹468 cr | 41.6% | ₹-4 cr | -0.8% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2024-03-19 | Bonus | Bonus 2:1 |
| 2023-09-21 | Other | Annual General Meeting |
| 2023-01-06 | Bonus | Bonus 4:1 |
| 2022-09-22 | Other | Annual General Meeting |
| 2022-08-25 | Split | Face Value Split (Sub-Division) - From Rs 5/- Per Share To Re 1/- Per Share |
| 2022-02-24 | Dividend | Interim Dividend - Rs 0.50 Per Share |
| 2021-09-21 | Other | Annual General Meeting |
| 2020-11-11 | Other | Annual General Meeting |
| 2019-09-26 | Other | Annual General Meeting |
| 2018-09-25 | Other | Annual General Meeting |
| 2017-09-25 | Other | Annual General Meeting |
| 2016-09-26 | Other | Annual General Meeting |
| 2016-03-14 | Split | Bonus 4:1/Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 5/- Per Share |
| 2015-09-24 | Other | Annual General Meeting |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacturing & Trading: Metal and metal products
| Sector | Industrials |
| Industry | Iron & Steel Products |
| Sub-industry | Iron & Steel Products |
| Symbol | RAMASTEEL |
| BSE code | 539309 |
| ISIN | INE230R01035 |
| Face value | ₹1.0 |
| Incorporated | 1974-02-26 |
| Website | www.ramasteel.com |
| Plants (India / abroad) | 3 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.