Rama Steel Tubes Ltd
RAMASTEELRama Steel Tubes Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it.
The sharpest disagreement: Foreign institutions moved +2.7 points over 8 quarters while the operating story went the other way — someone close to the numbers is not convinced.
The price is in a downtrend (47 weeks in) while the P/E sits at the 69th percentile of its own 10-year range. Underneath, the last four quarters read deteriorating — profit −43.2% year on year, and −63% of the last 3 years' profit arrived as cash. What settles it: whether the register turns back in the story’s favour.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Rama Steel Tubes Ltd trades at ₹4.3, in a downtrend and 47 weeks into that stage. That is −37.9% against its own 200-day average. It sits at 1% of a 52-week range of ₹4 to ₹11. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (6 weeks and counting).
Today the stock is in a downtrend — week 47 of stage 4, confirmed. At ₹4.3 it trades −37.9% versus its 200-day average and sits at 1% of its 52-week range (₹4–₹11).
Against the market, two honest reads. Cumulative: over the last 10.3 years the stock moved +270% while the NIFTY 500 moved +274% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (6 weeks and counting; last ahead the week of 2026-06-19) — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 69th percentile of its own range.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Rama Steel Tubes Ltd trades at 55.4× P/E, mid-range by its own standards (69th percentile). Its long-run median P/E is 28.0×, measured across 10.4 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 55.4× is mid-range by its own standards (69th percentile), against a long-run median of 28.0× measured over 10.4 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved −46.7% against a −63.5% price move — earnings outran the price, pushing the multiple DOWN its own range.
The price move, decomposed: over 5y, of the +17.7%/yr price move, ~−4.4%/yr came from earnings growth and ~+22.1 pp from the multiple (expanding); over 10y, of the +11.6%/yr price move, ~+1.3%/yr came from earnings growth and ~+10.3 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.
A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.
→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.
Stage: Turning around Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Rama Steel Tubes Ltd reads as turning around on its fundamental arc. Turning around — profit growth swung from −67.9% at the trough to −43.2% off a 1-quarter-old trough (single-quarter readings), ROCE slipping at 6.0%. The read is built from 10 quarters across 3 curves, on partial evidence.
Why it matters: growth inflections are where re-ratings start — the curves say a turn is forming, so the question becomes whether the next quarters confirm it.
One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.
Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.
A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +7.3% | −5.6% | +19.1% | +16.6% |
| Profit | −52.2% | −25.9% | −1.7% | +6.2% |
| EPS | −46.7% | −25.0% | −4.4% | +4.8% |
| Share price | −63.5% | −30.4% | +17.7% | +11.6% |
→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.
4-Factor Sector Score
25.3/100 — rank 15 of 15 in Steel - Tubes/Pipes · 77% evidence confidence
Rama Steel Tubes Ltd scores 25.3 out of 100 against the 15 companies it is compared with in Steel - Tubes/Pipes, ranking 15. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 7.5 + 6.5 + 8.3 + 3 = 25.3. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Rama Steel Tubes Ltd reported ₹246 Cr of revenue in the Mar 26 quarter, −16.0% year on year. Over 10 years it has compounded at 16.6% a year. The last full year, FY26, came in at ₹1,124 Cr. The last four reported quarters add to ₹1,124 Cr.
Rama Steel Tubes Ltd reported ₹246 Cr of revenue in the Mar 26 quarter, −16.0% year on year. Over 10 years it has compounded at 16.6% a year. The last full year, FY26, came in at ₹1,124 Cr. The last four reported quarters add to ₹1,124 Cr.
FY26 revenue came in at ₹1,124 Cr (+7.3% on the year), capping 10 years at 16.6% compound. The latest quarter (Mar 26) printed ₹246 Cr, −16.0% year on year.
Pace check: the last four quarters averaged +8.7% growth against the decade's 16.6% — the current year is running slower than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +7.3% over the last 4 quarters against +3.6%/yr over the last 8 — accelerating; TTM profit −49.3% vs −38.7%/yr — rolling over.
→ Revenue slipped — did margins hold as it scaled? Next: 1.7% this quarter (−2.4 pp YoY).
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Rama Steel Tubes Ltd's operating margin is 1.7% in the Mar 26 quarter, −2.4 percentage points against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged 2.0% to 8.0%. The current quarter is running below every full year in that window.
Rama Steel Tubes Ltd's operating margin is 1.7% in the Mar 26 quarter, −2.4 percentage points against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged 2.0% to 8.0%. The current quarter is running below every full year in that window.
The latest quarter's operating margin is 1.7%, −2.4 pp against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged 2.0%–8.0%.
🚨 Why the margin moved: operating margin went −2.4 pp year on year while gross margin went −2.4 pp — the loss came mostly from the gross line: input costs and pricing.
→ Margins slipped — did that reach the bottom line? Next: profit −43.2% in the latest quarter.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Rama Steel Tubes Ltd earned ₹3.8 Cr of net profit in the Mar 26 quarter, −43.2% year on year. Full-year FY26 profit was ₹11.0 Cr. The 10-year compound rate is 6.2%. That is 1.5% of the quarter's revenue. The same quarter a year earlier earned ₹6.7 Cr.
Rama Steel Tubes Ltd earned ₹3.8 Cr of net profit in the Mar 26 quarter, −43.2% year on year. Full-year FY26 profit was ₹11.0 Cr. The 10-year compound rate is 6.2%. That is 1.5% of the quarter's revenue. The same quarter a year earlier earned ₹6.7 Cr.
Mar 26 profit was ₹3.8 Cr, −43.2% year on year. On the full year, FY26 printed ₹11.0 Cr (−52.2%), and the 10-year compound rate is 6.2%.
🚨 Why profit moved: revenue contributed −16.0% and the margin −2.4 pp — the quarter was revenue-led despite a thinner margin.
Pace comparison, last four quarters: profit −52.0% vs revenue +8.7%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.
→ Profit rose — but did the cash follow? Next: −63% of the last 3 years' profit arrived as cash.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years −63% of Rama Steel Tubes Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹−109 Cr of operating cash against ₹11.0 Cr of profit. After ₹6.0 Cr of capital spending, ₹−115 Cr was left as free cash.
FY26: operating cash of ₹−109 Cr against reported profit of ₹11.0 Cr, leaving free cash of ₹−115 Cr after ₹6.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is −63% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
🚨 Why conversion sits at −63%: the cash cycle held roughly steady between FY21 and FY26 — so conversion tracks profitability rather than the cycle. Less than 70% of profit arriving as cash is the thing to watch on this page.
Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.
→ So follow the cash to where it goes. Next: a 53-day cycle and ₹24.0 Cr of building.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Rama Steel Tubes Ltd's cash conversion cycle runs 53 days in FY26, down from 60 days in FY21. Capital spending ran ₹24.0 Cr over the last 3 years. At FY26 sales of ₹1,124 Cr each day of that cycle holds about ₹3.1 Cr, so roughly ₹163 Cr sits inside the business at any moment.
FY26: debtors at 98 days, inventory at 45 days — roughly 1.5 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 53 days, tighter than FY21's 60.
The full loop: cash goes out to suppliers and production on day 0; stock waits 45 days to sell; customers pay about 98 days after that; and suppliers themselves are paid at 90 days — netting out to the 53-day cycle.
In money terms: at FY26 sales of ₹1,124 Cr, each day of the cycle holds about ₹3.1 Cr — so the 53-day loop keeps roughly ₹163 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹24.0 Cr over the last 3 fiscal years against ₹18.0 Cr of depreciation — building somewhat ahead of wear-and-tear. Capital work-in-progress stands at ₹4.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.
→ Does all this activity actually earn its cost of capital? Next: ROCE is 6% and the ROIC − WACC spread is −10.7 pp.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified
Rama Steel Tubes Ltd earns a ROCE of 6% in FY26. Return on invested capital clears the cost of that capital by −10.7 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 1.0% net margin on 1.26× asset turns.
FY26 ROCE is 6%.
🚨 Why the return is what it is — the wiring (FY26): 1.0% net margin × 1.26× asset turns × 1.86× balance-sheet leverage ≈ 2.3% on equity. Margin does its share; leverage is a meaningful part of the equation.
The capstone test — ROIC − WACC: 1.3% − 12.0% = a −10.7 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.
→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.27.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified
Rama Steel Tubes Ltd carries total debt of ₹130 Cr against shareholder equity of ₹483 Cr as of Mar 26, a debt-to-equity of 0.27 — effectively unlevered. On the annual view that ratio went from 1.09 in FY22 to 0.27 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Mar 26: total debt of ₹130 Cr against shareholder equity of ₹483 Cr — a debt-to-equity of 0.27. On the annual view, debt-to-equity went from 1.09 (FY22) to 0.27 (FY26). The returns on this page are earned, not borrowed.
→ Who owns this, and are they adding or leaving? Next: Promoters cut 22.1 points over 8 quarters.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Promoters cut 22.1 points of Rama Steel Tubes Ltd over 8 quarters, the biggest move on the register. That takes promoters to 34.2% of the company. Foreign institutions moved +2.7 points over the same window, to 2.7%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Promoters: −22.1 points over 8 quarters to 34.2%; Foreign institutions: +2.7 points over 8 quarters to 2.7%; Domestic institutions: +0.0 points over 8 quarters to 0.0%.
🚨 Why the register moved: promoters drove it (−22.1 points), absorbed on the other side by foreign institutions (+2.7 points) — distribution into the market’s bid.
→ One last check: does the safety math agree? Next: the balance-sheet safety line.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Rama Steel Tubes Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | P/E | Mkt cap | Revenue | EPS | ROCE | Stage |
|---|---|---|---|---|---|---|
| Rama Steel Tubes Ltd this page | 55.4× | ₹697 Cr | Turning around | |||
| APL Apollo Tubes Ltd | 42.1× | ₹50,612 Cr | Mixed | |||
| Maharashtra Seamless Ltd | 10.9× | ₹7,658 Cr | Deteriorating | |||
| Surya Roshni Ltd | 18.1× | ₹5,179 Cr | Mixed | |||
| Goodluck India Ltd | 27.8× | ₹5,024 Cr | Mixed | |||
| DEE Development Engineers Ltd | 57.4× | ₹4,526 Cr | No read | |||
| Man Industries (India) Ltd | 23.2× | ₹3,956 Cr | Mixed | |||
| Venus Pipes & Tubes Ltd | 34.4× | ₹3,522 Cr | Turning around | |||
| Sambhv Steel Tubes Ltd | 23.6× | ₹3,416 Cr | — | No read | ||
| Welspun Specialty Solutions Ltd | 119.0× | ₹3,399 Cr | No read | |||
| JTL Industries Ltd | 28.2× | ₹2,775 Cr | Turning around | |||
| Welspun Specialty Solutions Ltd | 112.0× | ₹2,469 Cr | No read | |||
| Hi-Tech Pipes Ltd | 22.6× | ₹1,722 Cr | Mixed | |||
| Hariom Pipe Industries Ltd | 16.0× | ₹1,213 Cr | No read | |||
| Gandhi Special Tubes Ltd | 18.2× | ₹1,055 Cr | Mixed | |||
| Scoda Tubes Ltd | 22.7× | ₹880 Cr | No read |
Frequently asked questions
What is Rama Steel Tubes Ltd's share price today?
Rama Steel Tubes Ltd trades at ₹4.3, −63.5% over the past year. The company is valued at ₹697 Cr. The stock sits at 1% of its 52-week range of ₹4–₹11, −37.9% versus its 200-day average. On the tape, the price is in a downtrend, 47 weeks in. — as of 24 July 2026.
What were Rama Steel Tubes Ltd's latest quarterly results?
Rama Steel Tubes Ltd reported revenue of ₹246 Cr and net profit of ₹3.8 Cr for the Mar 26 quarter. Revenue fell 16.0% and profit fell 43.2% year on year. Earnings per share were ₹0.03. The operating margin was 1.7%, 2.4 pp lower than a year earlier. — as of 24 July 2026.
What is Rama Steel Tubes Ltd's revenue?
Rama Steel Tubes Ltd reported revenue of ₹246 Cr in the Mar 26 quarter, −16.0% year on year. For the full FY26 fiscal year, revenue was ₹1,124 Cr (+7.3%). Over the last 10 years revenue compounded at 16.6% a year. — as of 24 July 2026.
What is Rama Steel Tubes Ltd's profit?
Rama Steel Tubes Ltd earned ₹3.8 Cr of net profit in the Mar 26 quarter, −43.2% year on year. Full-year FY26 profit was ₹11.0 Cr. The operating margin ran 1.7% in the latest quarter. — as of 24 July 2026.
What is Rama Steel Tubes Ltd's market cap?
Rama Steel Tubes Ltd's market capitalisation is ₹697 Cr at a share price of ₹4.3. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.
What is Rama Steel Tubes Ltd's P/E ratio?
Rama Steel Tubes Ltd trades at a P/E of 55.4×, at the 69th percentile of its own 10-year range, against a long-run median of 28.0×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.
Does Rama Steel Tubes Ltd pay a dividend?
Not in its latest year — Rama Steel Tubes Ltd's dividend payout was 0% of profit in FY26. It did record a payout in 1 of its last 12 reported fiscal years, so there is a history but no current dividend. — as of 24 July 2026.
Is Rama Steel Tubes Ltd overvalued?
On its own history, Rama Steel Tubes Ltd looks expensive against its own history: its P/E of 55.4× sits at the 69th percentile of its 10-year range (long-run median 28.0×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 24 July 2026.
Is Rama Steel Tubes Ltd growing?
Not right now — Rama Steel Tubes Ltd's latest numbers are shrinking: latest-quarter revenue −16.0% year on year, profit −43.2%, and the margin −2.4 pp at 1.7%. The 10-year compound rates are 16.6% (revenue) and 6.2% (profit). The earnings engine currently reads: deteriorating — as of 24 July 2026.
How is Rama Steel Tubes Ltd performing?
Rama Steel Tubes Ltd is in a downtrend, 47 weeks in. Its latest quarter's revenue fell 16.0% and profit fell 43.2% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 6 weeks. This describes what the data did, not a rating. — as of 24 July 2026.
What stage is Rama Steel Tubes Ltd in?
Turning around — profit growth swung from −67.9% at the trough to −43.2% off a 1-quarter-old trough (single-quarter readings), ROCE slipping at 6.0%. The read comes from the last 12 quarters of growth (revenue growth −16.0% latest, profit growth −43.2% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 24 July 2026.
Is Rama Steel Tubes Ltd in an uptrend?
No — the price is in a downtrend (week 47 of stage 4), trading −37.9% versus its 200-day average and at 1% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.
Is Rama Steel Tubes Ltd beating the market?
Not lately — on a trailing-13-week view Rama Steel Tubes Ltd is currently behind the NIFTY 500 (6 weeks and counting; last ahead the week of 2026-06-19), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.3 years the stock moved +270% against the NIFTY 500's +274% — behind the index over the full window. — as of 24 July 2026.
Will Rama Steel Tubes Ltd's share price go up?
This page publishes no price forecast for Rama Steel Tubes Ltd. What it measures instead: the share price is ₹4.3, the price is in a downtrend 47 weeks in. Its P/E of 55.4× sits at the 69th percentile of its own 10-year range. — as of 24 July 2026.
Who owns Rama Steel Tubes Ltd?
Promoters hold 34.2% of Rama Steel Tubes Ltd, foreign institutions 2.7%, domestic institutions 0.0% and the public 63.1% (latest quarter). The biggest move on the register over the last two years: Promoters cut 22.1 points over 8 quarters. — as of 24 July 2026.
Does Rama Steel Tubes Ltd have too much debt?
No — Rama Steel Tubes Ltd's debt-to-equity is 0.27, and operating profit covers the interest bill 1×. FY26 borrowings were ₹130 Cr against equity of ₹478 Cr. The returns on this page are earned, not borrowed — as of 24 July 2026.
What is Rama Steel Tubes Ltd's capex?
Rama Steel Tubes Ltd spent ₹24.0 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹6.0 Cr, with ₹4.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.
What is Rama Steel Tubes Ltd's cash flow?
Rama Steel Tubes Ltd generated ₹−109 Cr of operating cash flow in FY26 and ₹−115 Cr of free cash flow after ₹6.0 Cr of capital spending. Reported profit that year was ₹11.0 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 24 July 2026.
Is Rama Steel Tubes Ltd's profit real cash?
Not fully — over the last 3 fiscal years, −63% of Rama Steel Tubes Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹−109 Cr against reported profit of ₹11.0 Cr. The cash then goes into a mix of the working-capital cycle and capacity. Cash-flow resolution is annual — as of 24 July 2026.
Where is Rama Steel Tubes Ltd in its business cycle?
Rama Steel Tubes Ltd's FY26 operating margin was 2.0%, against a 12-year band of 2.0%–8.0%: the low end of its own band, which is where recoveries start when they come. The latest quarter ran 1.7%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.
What could break the Rama Steel Tubes Ltd story?
The sharpest disagreement: Foreign institutions moved +2.7 points over 8 quarters while the operating story went the other way — someone close to the numbers is not convinced. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.
Is Rama Steel Tubes Ltd a stock worth studying right now?
This is not investment advice. The machine read: Rama Steel Tubes Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it. The sharpest open question: whether the register turns back in the story’s favour. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.