Ratnamani Metals & Tubes Q4 Results Review — Healthy Show; Ebitda Margin Surprises Positively: ICICI Direct

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .ICICI Direct Report.Ratnamani Metals and Tubes Ltd. reported a healthy Q4 FY23 performance aided by healthy growth in sales volumes and robust Ebitda margins.For Q4 FY23, Ratnamani Metals reported total sales volume of 106260 tonnes, up 57% YoY and 60% QoQ, significantly higher than our estimate of 71500 tonnes. Revenue from operations (standalone) for the quarter was at Rs 1436 crore, up 47% YoY, 36% QoQ, notably higher than our estimate of Rs 1126 crore.Standalone Ebitda for the quarter was at Rs 292 crore, up 73% YoY, 50% QoQ (our estimate of Rs 179 crore). Standalone Ebitda margin for the quarter was at 20.3%, up 300 basis points YoY, 190 bps QoQ, higher than our estimate of 15.9% • Ensuing standalone profit after tax for the quarter was at Rs 196 crore, up 75% YoY, 48% QoQ (our estimate of Rs 121 crore).Key triggers for future price performance:Ratnamani Metals’ order book as on May 1, 2023 was at Rs 2440 crore, wherein in terms of segment wise break-up stainless steel order book was at Rs 737 crore, while carbon steel orders book was at Rs 1703 crore.For the standalone entity, topline guidance for FY24E is ~Rs 5000 crore, with Ebitda margin guidance in the range of ~16-18%.Over FY23-25E, we expect the topline to grow at a compound annual growth rate of 13% while Ebitda, profit after tax are expected to register CAGR of 14%, 16%, respectively..Click on the attachment to read the full report:.Ratnamani Metals Shares Hit Record High After Q4 Profit Jumps 73% .DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Ratnamani Metals & Tubes Q4 Results Review — Healthy Show; Ebitda Margin Surprises Positively: ICICI Direct

Ratnamani Metals reported a healthy Q4 FY23 performance aided by healthy growth in sales volumes and robust Ebitda margin.

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