Ratnamani Metals Q4 FY26: Revenue & Profit Decline; Dividend ₹10 Recommended

Ratnamani Metals & Tubes held its Board of Directors meeting on May 15, 2026, at its corporate office in Ahmedabad, Gujarat, to consider and approve the audited financial results for the quarter and year ended March 31, 2026. The meeting commenced at 12:15 and concluded at 15:40, convened in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were reviewed and recommended by the Audit Committee at its meeting held on May 14, 2026, prior to board approval. The independent auditors, M/s. Kantilal Patel & Co., Chartered Accountants, Ahmedabad, issued an unmodified opinion on both the standalone and consolidated audited financial results. Subsequently, an extract of the audited financial results (standalone and consolidated) for the quarter and year ended March 31, 2026, was published in the Financial Express (English Edition and Gujarati Edition) dated May 16, 2026, in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Q4 FY26 Key Highlights

Latest data shows a significant year-on-year moderation in Ratnamani Metals' Q4 performance. The company's Q4 EBITDA stood at 1.5B rupees compared to 3B rupees in the same quarter of the prior year, with the EBITDA margin contracting to 14.16% from 17.62% year-on-year. On a consolidated basis, Q4 net profit came in at 1B rupees versus 2B rupees year-on-year, while Q4 consolidated revenue was 10.8B rupees compared to 17.15B rupees in the corresponding prior-year period.

Metric: Q4 FY26 Q4 FY25 (YoY) EBITDA: 1.5B Rupees 3B Rupees EBITDA Margin: 14.16% 17.62% Consolidated Net Profit: 1B Rupees 2B Rupees Consolidated Revenue: 10.8B Rupees 17.15B Rupees

Standalone Financial Performance

The standalone financial results for the quarter and year ended March 31, 2026, reflect a moderation in revenue compared to the prior year. The following table presents the key standalone financial metrics (₹ in Lakhs):

Metric: Q4 FY26 (Audited) Q3 FY26 (Unaudited) Q4 FY25 (Audited) FY26 (Audited) FY25 (Audited) Revenue from Operations: 89,300.21 79,433.35 1,57,477.28 3,68,930.02 4,87,614.08 Total Income: 92,068.09 82,292.62 1,61,273.47 3,81,439.46 4,95,945.14 Total Expenses: 80,269.64 68,690.45 1,31,130.06 3,22,087.02 4,18,134.26 Profit Before Tax: 12,579.30 11,781.75 30,143.41 58,312.87 77,810.88 Net Profit: 9,290.18 8,790.36 22,474.11 43,395.50 57,800.96 Total Comprehensive Income: 9,365.96 9,410.81 22,253.53 43,929.61 57,554.39 Basic EPS (₹): 13.25 12.54 32.06 61.91 82.46 Diluted EPS (₹): 13.24 12.52 32.05 61.88 82.44

On a standalone basis, total assets stood at ₹4,63,202.23 lakhs as at March 31, 2026, compared to ₹4,60,689.83 lakhs as at March 31, 2025. Total equity increased to ₹4,08,067.92 lakhs from ₹3,70,874.39 lakhs. Net cash generated from operating activities for the year was ₹97,611.49 lakhs, while net cash used in investing activities was ₹1,02,489.03 lakhs. Cash and cash equivalents at the end of the year stood at ₹6,553.62 lakhs.

Consolidated Financial Performance

The consolidated results encompass the Holding Company and its subsidiaries — Ratnamani Inc., Ravi Technoforge Private Limited, Ratnamani Finow Spooling Solutions Private Limited, Ratnamani Trade EU AG, and Ratnamani Middle East Pipes Trading – L.L.C. – O.P.C. The key consolidated financial metrics are presented below (₹ in Lakhs):

Metric: Q4 FY26 (Audited) Q3 FY26 (Unaudited) Q4 FY25 (Audited) FY26 (Audited) FY25 (Audited) Revenue from Operations: 1,08,482.25 1,06,583.34 1,71,514.55 4,49,396.17 5,18,647.39 Total Income: 1,11,840.66 1,09,700.19 1,72,425.86 4,61,591.46 5,24,609.39 Total Expenses: 97,218.05 90,171.79 1,44,832.12 3,89,917.91 4,50,810.48 Profit Before Tax: 15,403.46 17,707.98 27,593.74 70,633.98 73,798.91 Net Profit: 11,590.72 13,537.83 20,315.97 53,446.51 54,157.04 Total Comprehensive Income: 11,704.86 14,155.18 19,730.88 54,055.67 53,546.27 Basic EPS (₹): 14.94 15.67 28.99 68.85 77.27 Diluted EPS (₹): 14.92 15.66 28.98 68.81 77.25

Consolidated total assets stood at ₹5,38,760.44 lakhs as at March 31, 2026, versus ₹4,90,596.59 lakhs as at March 31, 2025. Total equity (including non-controlling interest) rose to ₹4,20,771.71 lakhs from ₹3,66,462.51 lakhs. Net cash generated from consolidated operating activities was ₹93,600.91 lakhs, while net cash used in investing activities was ₹1,14,763.99 lakhs. Consolidated cash and cash equivalents at year-end stood at ₹7,390.20 lakhs.

Consolidated Segment Performance

The company operates across three business segments. The segment-wise revenue and results for the year ended March 31, 2026, are detailed below (₹ in Lakhs):

Segment: Revenue FY26 Revenue FY25 Results FY26 Results FY25 Steel Tubes and Pipes: 3,72,682.84 4,84,677.29 54,505.98 73,412.32 Bearing Rings: 37,666.06 28,408.76 3,305.70 2,099.91 Pipe Spools and Auxiliary Support Systems: 39,047.27 5,561.34 11,844.32 (603.52) Total: 4,49,396.17 5,18,647.39 69,656.00 74,708.71

Dividend, AGM, and Other Board Decisions

The board recommended a final dividend of ₹10 per equity share (i.e., @ 500%) on 7,00,92,000 equity shares of ₹2.00 each for the financial year ended March 31, 2026, subject to shareholder approval at the ensuing 42nd Annual General Meeting. The 42nd AGM has been scheduled for Tuesday, August 18, 2026, to be held via Video Conferencing and other Audio-Visual Means. The record date for determining members eligible to receive the final dividend has been fixed as Tuesday, August 11, 2026. If approved, the dividend would be paid on or before September 17, 2026, subject to applicable tax deductions. The board also approved the re-appointment of M/s. G. K. Choksi & Co., Chartered Accountants, Ahmedabad (Firm Reg. No. 101895W), as Internal Auditors for Financial Year 2026-27, and the re-appointment of M/s. N. D. Birla & Co., Cost Accountants, Ahmedabad (Firm Reg. No. 000028), as Cost Auditors for Financial Year 2026-27, subject to ratification of remuneration by members at the ensuing AGM.

Exceptional Item and Trading Window

During the year, the company recognised an exceptional item related to the statutory impact of New Labour Codes. An estimated incremental liability of ₹1,820.42 lakhs towards gratuity and compensated absences was initially recognised. Following refinement of assumptions and actuarial valuation, the liability was revised to ₹1,039.57 lakhs for the year ended March 31, 2026, resulting in a reversal of excess provision of ₹780.55 lakhs in the quarter ended March 31, 2026. The company continues to monitor developments related to the New Labour Codes. Pursuant to the SEBI (Prohibition of Insider Trading) Regulations, 2015, the trading window for dealing in the company's securities, which had been closed since April 1, 2026, re-opened with effect from Monday, May 18, 2026. The filing was signed by Anil Maloo, Company Secretary & Compliance Officer, and the above information is available on the company's website at www.ratnamani.com .

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