Rama Steel Tubes Ltd

₹ 11.4 -0.87%

04 Jul 2:45 p.m.

ramasteel.com BSE: 539309 NSE: RAMASTEEL

About

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]

Key Points

Product Portfolio
Company is into manufacturing and trading steel tubes and pipes and galvanised iron pipes. Its product range includes MS ERW black pipes and galvanised iron pipes in light, medium and heavy sizes. ^[1] ^[2]

Website BSE NSE

Market Cap ₹ 1,680 Cr.
Current Price ₹ 11.4
High / Low ₹ 16.8 / 9.90
Stock P/E 74.0
Book Value ₹ 1.97
Dividend Yield 0.00 %
ROCE 12.0 %
ROE 9.52 %
Face Value ₹ 1.00

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Pros

Company has reduced debt.
Company has delivered good profit growth of 24.3% CAGR over last 5 years

Cons

Stock is trading at 5.67 times its book value
Though the company is reporting repeated profits, it is not paying out dividend
Promoter holding has decreased over last quarter: -0.53%
Company has a low return on equity of 10.5% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Steel Industry: Steel - Medium / Small

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	104.31	92.57	114.38	114.83	195.54	178.20	250.03	244.66	336.98	219.29	155.63	211.45	207.70
	100.37	88.30	109.01	110.46	188.95	175.17	245.63	236.58	319.64	208.54	149.35	199.85	199.43
Operating Profit	3.94	4.27	5.37	4.37	6.59	3.03	4.40	8.08	17.34	10.75	6.28	11.60	8.27
OPM %	3.78%	4.61%	4.69%	3.81%	3.37%	1.70%	1.76%	3.30%	5.15%	4.90%	4.04%	5.49%	3.98%
	0.98	1.50	0.82	1.09	1.52	0.64	0.96	1.53	0.87	1.05	1.37	2.03	5.20
Interest	1.40	1.87	1.96	2.05	1.99	2.32	2.24	3.10	3.63	3.04	1.27	4.96	3.04
Depreciation	0.79	0.77	0.79	0.81	0.77	0.72	0.79	0.76	0.82	0.97	1.04	1.13	1.24
Profit before tax	2.73	3.13	3.44	2.60	5.35	0.63	2.33	5.75	13.76	7.79	5.34	7.54	9.19
Tax %	24.91%	23.00%	19.48%	24.23%	37.01%	36.51%	29.18%	25.04%	26.82%	26.70%	25.09%	24.27%	20.78%
	2.05	2.41	2.77	1.96	3.38	0.40	1.66	4.31	10.08	5.71	4.00	5.70	7.29
EPS in Rs	0.02	0.02	0.02	0.02	0.03	0.00	0.01	0.03	0.07	0.04	0.03	0.04	0.05
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	185	181	192	215	235	334	405	292	326	517	1,010	794
	182	176	187	202	216	314	390	286	315	496	977	757
Operating Profit	3	5	6	14	19	20	14	6	11	21	33	37
OPM %	2%	3%	3%	6%	8%	6%	4%	2%	3%	4%	3%	5%
	6	4	3	3	3	4	6	7	5	4	4	10
Interest	5	5	5	6	8	6	8	8	6	8	11	12
Depreciation	2	2	2	3	3	2	2	2	3	3	3	4
Profit before tax	2	2	1	8	12	16	10	3	7	15	22	30
Tax %	31%	13%	22%	34%	31%	35%	24%	49%	21%	28%	27%	24%
	1	2	1	5	8	11	8	1	5	11	16	23
EPS in Rs	0.06	0.12	0.01	0.05	0.07	0.08	0.06	0.01	0.04	0.08	0.12	0.15
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	8%	0%	0%

Compounded Sales Growth
10 Years:	16%
5 Years:	14%
3 Years:	35%
TTM:	-21%

Compounded Profit Growth
10 Years:	30%
5 Years:	24%
3 Years:	62%
TTM:	38%

Stock Price CAGR
10 Years:	%
5 Years:	59%
3 Years:	78%
1 Year:	-5%

Return on Equity
10 Years:	10%
5 Years:	9%
3 Years:	10%
Last Year:	10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Equity Capital	0	0	1	7	8	8	8	8	8	8	47	154
Reserves	17	19	18	17	38	64	73	75	80	90	139	137
Preference Capital	0	1	1	1	0	0	0	0	0	0	0
	41	39	55	57	53	50	70	69	76	118	128	100
	12	16	22	22	29	13	24	36	28	54	57	94
Total Liabilities	70	75	96	104	128	135	176	188	193	271	370	486
	15	14	12	16	23	29	27	27	38	36	79	83
CWIP	0	1	6	1	0	0	1	7	2	6	1	1
Investments	2	3	13	13	3	8	10	13	14	13	17	14
	52	57	65	73	102	98	137	142	140	215	273	388
Total Assets	70	75	96	104	128	135	176	188	193	271	370	486

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	13	8	3	5	-8	6	-11	14	4	-33	-48	-7
	-2	-3	-7	-2	3	-5	-1	-5	-6	-3	-44	-4
	-11	-4	9	-5	7	-1	12	-9	1	33	94	17
Net Cash Flow	0	0	5	-2	1	-0	0	0	-2	-4	2	6

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	33	35	21	33	47	35	44	69	39	52	43	59
Inventory Days	36	47	55	62	93	40	46	37	70	70	24	35
Days Payable	12	17	5	26	27	4	18	41	27	36	8	43
Cash Conversion Cycle	57	66	71	70	114	71	72	65	82	87	60	51
Working Capital Days	58	60	65	71	104	82	86	97	96	101	68	117
ROCE %	11%	11%	9%	17%	21%	20%	13%	7%	8%	12%	13%

Shareholding Pattern

Numbers in percentages

1 Recently

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	62.33%	62.33%	62.33%	70.46%	70.46%	65.40%	65.40%	65.11%	63.91%	57.14%	57.22%	56.70%
	0.00%	0.12%	0.59%	0.38%	2.76%	4.49%	3.33%	2.74%	2.16%	0.33%	0.33%	0.08%
	0.00%	0.00%	0.00%	0.71%	0.71%	0.66%	0.66%	0.67%	0.63%	0.69%	0.59%	0.00%
	37.67%	37.55%	37.08%	28.45%	26.07%	29.44%	30.60%	31.48%	33.30%	41.83%	41.84%	43.24%
No. of Shareholders	3,763	4,249	7,521	27,026	19,273	24,278	33,592	54,997	59,608	71,733	74,086	1,64,880

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	59.52%	60.28%	60.40%	61.28%	62.33%	70.46%	65.11%	56.70%
	0.00%	0.29%	0.00%	0.00%	0.00%	0.38%	2.74%	0.08%
	0.70%	2.17%	0.00%	0.00%	0.00%	0.71%	0.67%	0.00%
	39.78%	37.26%	39.60%	38.72%	37.67%	28.45%	31.48%	43.24%
No. of Shareholders	2,947	4,193	3,641	3,805	3,376	27,026	54,997	1,64,880

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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