In , Ratnaveer Precision Engineering Ltd (Stainless Steel) is outperforming Nifty 500 with +18.4% relative strength. Fundamentals: Strong. On a 5-week streak.
Weekly presence in the outperformers list. Green = beating Nifty 500 by 10%+ that week.
Based on Q2 FY26 earnings • Updated Apr 18, 2026
What: VA Revenue Mix: 8% to 20%
Impact: 15-20% PAT margin on VA products
“Value added products... would be at 15% to 20 % of the PAT. So, it can be help us to improving the significant margin.”
What: Capacity Utilization: 80-90%
“Right now this capacity of the, a part of this 48 crore of the CapEx that can be utilizing almost nearby to the 80% to 90 %.”
What: CCL Revenue: ₹108 Cr
Impact: 12% PAT margin
“Numbers from the first CAPEX will be at 45 crores. And the numbers of 108 crores is revenue. 20% is EBITDA and 12% is the PAT.”
What: Export Mix: 20%
“In our washers product and the fasteners contribution, that will get 20% for the exports... the margin is better than domestic.”
What: Debt Equity Ratio: 0.5-0.6
“About the equity ratios right now, it would be at nearby to the 0.5-0.6... this debt equity issues can be also improved significantly.”
What: Revenue growth of 25% plus year-on-year
“The growth for the revenue for the year-on-year, that would be almost 25% plus... Company has been significantly achieved the great numbers.”
What: 10.5% → 13.5%
“We have a target to reach to 13.5 % of the EBITDA. So, that can be a very much focused point by our management.”
Earnings deceleration risks from management commentary
Trigger: The company operates in the stainless steel segment where global price fluctuations are common.
Management view: 80-85% of orders are covered with back-to-back order positions to fix purchase and sale prices.
Monitor: commodity
Trigger: New product categories like Copper Clad Laminates require specific quality certifications for domestic sales.
Management view: Targeting implementation by July with trial production to follow.
Monitor: regulatory
Trigger: The company imports half of its scrap requirements and exports a fifth of its finished goods.
Management view: Not explicitly detailed, but management noted margins are better in exports.
Monitor: fx
Key quotes from recent conference calls
“The copper cladded laminates is a 100% imports doing and we are the first company who are going to set up the plant in India. [Initiative: Copper Clad Laminates (CCL) Project]”
“We have taken the approval for Rs. 211 crores up to the QIP plan... QIP funds can be helped to this working capital gap. [Initiative: QIP Fundraising]”
“Size of this acquisition would be at a nearby to the 150 crores and their topline would be at 600 crores-700 crores. [Initiative: Inorganic Acquisition]”
“80% of the orders are covered up with the back-to-back order positions... there is no much more fluctuations of extra advantage or extra disadvantage. [Risk (commodity): MEDIUM]”
Headline numbers from the latest earnings call
Revenue
₹287 Cr
Why: Management attributed the growth to significant achievements in numbers following the completion of two years since the main board IPO.
Revenue growth is tracking ahead of historical averages following the IPO.
EBITDA
₹30.26 Cr
Why: EBITDA margins increased slightly from 10.34% in Quarter 1 to 10.51% in Quarter 2, reflecting improved operational efficiency.
Margins are showing incremental improvement on a sequential basis.
PAT
₹15.35 Cr
Why: The company achieved historical high numbers in PAT as it scales its value-added product portfolio.
PAT levels represent a record high for the company's quarterly performance.
Other Highlights
• Completed ₹48 Cr CAPEX in February 2025
• Achieved 80% to 90% utilization on Phase 1 CAPEX
• Value-added products contributed 8% to H1 revenue
Sub-sector-specific signals from the latest concall — each with management's stated reason for the change
Phase 1 Capacity Utilization
80-90%
Why: High utilization achieved on the ₹48 Cr CAPEX completed in February.
Value Added Product Mix
8%
Why: Initial contribution from new SKUs like circlips and electropolished tubes.
Inventory Days
114-120 days
Why: Inventory increased due to constant CAPEX and new product stocking.
Export Revenue Share
20%
Why: Maintained share despite strong domestic demand growth.
Order Book Visibility
3-4 months
Why: Consistent order flow across different product ranges.
EBITDA Per Ton
₹28,000
Why: Reflects current product mix; targeted to cross 30,000 with higher VA utilization.
Raw Material Import Share
50%
Why: Sourcing strategy balances domestic scrap with high-quality imports.
Total SKUs
10,000+
Why: Expansion of fastener and clip ranges to meet diverse industry needs.
Forward-looking targets from management for FY26-FY27
OPM Guidance
13.5%
Capex Plan
₹68 Cr
₹1,100 Cr for FY26; ₹1,500 Cr for FY27
RAISED
₹68 Cr
Tubes, circlips, fasteners, and solar plants
Guidance Changes
EBITDA Margin: 10.5% → 13.5%
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | +6% | +28% | Decelerating |
| PAT (Net Profit) | +55% | +73% | Stable |
| OPM | 11.0% | +300 bps | Stable |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Apr 18, 2026.
Based on publicly available financial data. This is educational research, not investment advice.
Ratnaveer Precision Engineering Ltd's latest quarterly results (Dec 2025) show
Ratnaveer Precision Engineering Ltd's profit is growing with an stable trend.
Ratnaveer Precision Engineering Ltd's revenue growth trend is decelerating.
Ratnaveer Precision Engineering Ltd's operating margin is stable.
Ratnaveer Precision Engineering Ltd's long-term compounding rates
Ratnaveer Precision Engineering Ltd's earnings growth is stable with mixed signals on a sequential basis.
Ratnaveer Precision Engineering Ltd's trailing twelve month (TTM) performance
Ratnaveer Precision Engineering Ltd appears significantly undervalued based on our fair value analysis.
Ratnaveer Precision Engineering Ltd's current PE ratio is 20.6x.
Ratnaveer Precision Engineering Ltd's current PE is 20.6x.
Ratnaveer Precision Engineering Ltd's price-to-book ratio is 2.8x.
Ratnaveer Precision Engineering Ltd is rated Strong with a fundamental score of 64.32/100. This score is calculated from objective financial metrics
Ratnaveer Precision Engineering Ltd has a debt-to-equity ratio of N/A.
Ratnaveer Precision Engineering Ltd's return ratios over recent years
Ratnaveer Precision Engineering Ltd's operating cash flow is positive (FY2025).
Ratnaveer Precision Engineering Ltd currently does not pay a significant dividend (yield 0.00%).
Ratnaveer Precision Engineering Ltd's shareholding pattern (Mar 2026)
Ratnaveer Precision Engineering Ltd's promoter holding has increased recently.
Ratnaveer Precision Engineering Ltd has been outperforming Nifty 500 for 5 consecutive weeks, indicating building momentum.
Ratnaveer Precision Engineering Ltd is an established outperformer with 5 weeks of consecutive Nifty 500 outperformance.
Ratnaveer Precision Engineering Ltd has 7 key growth catalysts identified from recent earnings analysis
Ratnaveer Precision Engineering Ltd has 3 key risks worth monitoring
In Q2 FY26, Ratnaveer Precision Engineering Ltd's management highlighted
Ratnaveer Precision Engineering Ltd's management has provided the following forward guidance for FY26-FY27
Ratnaveer Precision Engineering Ltd's most important sub-sector-specific KPIs from the latest concall
Based on quantitative research signals, here is why Ratnaveer Precision Engineering Ltd may be worth studying
Ratnaveer Precision Engineering Ltd investment thesis summary:
Ratnaveer Precision Engineering Ltd's forward outlook based on current data signals
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.
