The shares of Ratnamani Metals & Tubes Ltd shot up by 10%, reaching a 52-week high of ₹ 2463.65 on Thursday. One of the probable reasons for today’s record-high stock prices is the company’s recent announcement of Q4 FY 22-23 earnings.
Having a quick walkthrough of the financials of the previous quarter, their operating revenues increased 36.3 percent from ₹ 1,099 crores in Q3 to ₹ 1,499 crores in Q4. Similarly, for YOY comparison the revenues significantly increased from ₹ 3,139 crores during FY 21-22 to ₹ 4,474 crores in FY 22-23.
The net profits have increased 44 percent from ₹134 crores in Q3 to ₹ 193 crores in Q4. Similarly, for YOY comparison the net profit has increased from ₹323 crores during FY 21-22 to ₹ 512 crores in FY 22-23.
In addition to that, the board has approved raising ₹ 500 crores through non-convertible bonds on a private placement basis. The Company has planned to invest ₹ 400 crore to enhance its Helical SAW capacity. This strategic investment is anticipated to contribute to the company’s growth beyond its subsequent financial year, positioning it for long-term success.
On a last year-to-date basis, the stock gained 66.41 percent ranging from ₹ 1,467 to the current price level. In the previous three years, the stock has gained around 312.4 percent ranging from ₹ 588.27 to the current price level.
Ratnamani Metals & Tubes Ltd is engaged in the manufacturing of stainless steel pipes and tubes and carbon steel pipes from its manufacturing facilities in India. The company caters for both domestic and international markets.
According to the latest data pertaining to the shareholding pattern, the promoters hold a 60.06 percent stake, and Foreign Institutional Investors (FIIs) hold a 12.77 percent stake in the company for FY 22-23.
Written by Omkar
