Ratnamani Metals & Tubes share price today

Ratnamani Metals & Tubes Ltd's share price was ₹2,449.40 at the close on 4 November 2026. It has been rising for 6 weeks. That is 3.0% below its average price over the last 200 trading days. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 10 weeks in a row.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Ratnamani Metals & Tubes Ltd is in stage 2. The phase helps read everything below.

In the last 52 weeks it traded between ₹2,004 and ₹2,869, and at that close it sat 51% of the way up from that low.

Over the last 11 years the share price moved +755% while the NIFTY 500 moved +257%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

For April to June 2026 (the quarter ended 30 June 2026), Ratnamani Metals & Tubes reported revenue of ₹972 crore, down 15.6% from ₹1,152 crore a year earlier, and a profit of ₹107 crore, down 15.7% from ₹127 crore.

Ratnamani Metals & Tubes results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

The newest call in our records is from 18 May 2026, about January to March 2026; a call about these results is not in our records yet.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

Ratnamani Metals & Tubes closed at ₹2,449.40 on 4 November 2026, up 1.7% from ₹2,409.50 a year earlier (7 November 2025) and up 68.8% over five years. Its highest weekly close since February 2016 was ₹3,822.90 on 1 December 2023.

Ratnamani Metals & Tubes share price: then and now

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

565 weekly closes from 26 February 2016 to 4 November 2026.

4 Nov 2026: Ratnamani Metals & Tubes closed at ₹2,449.40, up 5.6% on the week and down 6.5% on the month. 11 Aug 2026: ex-date for a dividend of ₹10 a share.

Earlier

• Results for April to June 2026: Revenue down 15.6% and profit down 15.7% on a year earlier.
• 18 May 2026: Ratnamani Metals & Tubes held its results call for January to March 2026. Management guided: Standalone revenue FY27 ₹4,800-5,000 crores (range, prepared and extracted) assumes normalization within 1-3 months; ₹100-150 crores backlog from Middle East shipping embedded; consolidated operating margin 16% +/- 1% sustainable if conflict resolves within 3-5 months.

Ratnamani Metals & Tubes paid ₹10 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.41% at the ₹2,449.40 close on 4 November 2026. The last was a dividend of ₹10 a share, ex-date 11 August 2026.

Ratnamani Metals & Tubes dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here.

Yes. Ratnamani Metals & Tubes Ltd paid out 15% of its profit as dividends in FY26, and it paid a dividend in each of its last 13 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for January to March 2026, held on 18 May 2026, Ratnamani Metals & Tubes' management guided: Standalone revenue FY27 ₹4,800-5,000 crores (range, prepared and extracted) assumes normalization within 1-3 months; ₹100-150 crores backlog from Middle East shipping embedded; consolidated operating margin 16% +/- 1% sustainable if conflict resolves within 3-5 months.

“For any greenfield nuclear power plant of one gigawatt, approximately 4,000-5,000 tons of pipe spools are required. Considering the number of plants India and other geographies are planning, our capacity will be booked for these new projects.”Manoj Sanghvi, on the call for January to March 2026

What management guided

• Subsidiary growth FY27: Ravi Technoforge 10-15% (high utilization, limited capacity headroom); Ratnamani Techno Spooling 20-25% with 20-25% margins (₹550 crore order book with ₹480-500 crores planned conversion)
• Middle East facility March 2027 completion for design, engineering, trials (specific date with 3-month slippage contingency if conflict persists); meanwhile 18-meter spiral welded pipes operational, Ravi automation ongoing.
• Standalone routine capital spending (ex-Saudi) ₹150-200 crores; power sector opportunity 80 GW thermal and renewable additions (4-5 years) and 100 GW nuclear by 2047 (PM goal) - directional only, unquantified in tonnage.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for January to March 2026, 18 May 2026. The April to June 2026 results are out since, so this part may be out of date until we update it.

When Ratnamani Metals & Tubes reports July to September 2026, these are the 3 checks that show whether the story is still on course. First: Ratnamani Techno Spooling FY27 revenue conversion: ₹480-500 crores from ₹550 crore order book - track quarterly spooling segment revenue and capacity utilization vs management's 87-91% conversion goal.

Ratnamani Metals & Tubes is on 2 of our India lists: Breakout stocks and Small & mid cap stocks.

Ratnamani Metals & Tubes Ltd earned ₹107 Cr of net profit in the Jun 2026 quarter, −15.7% on the same quarter a year earlier. Full-year FY26 profit was ₹534 Cr. Over 10 years profit has grown 12.5% a year on average. That is 11.0% of the quarter's revenue. The same quarter a year earlier earned ₹127 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

For the full year, FY26 profit was ₹534 Cr (−1.5% on the year before).

Why profit moved: revenue changed −15.6% on a year earlier and the margin moved +1.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed +0.1% and revenue −12.1%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

Ratnamani Metals & Tubes Ltd reported ₹972 Cr of revenue in the Jun 2026 quarter, −15.6% on the same quarter a year earlier. Over 10 years it has grown 10.1% a year on average. The last full year, FY26, came in at ₹4,494 Cr. The last four reported quarters add to ₹4,315 Cr.

Revenue is everything the company billed its customers in the period.

FY26 revenue was ₹4,494 Cr, −13.3% on the year before.

Recent pace: the last four quarters grew −12.1% on average, against 10.1% a year over the longer run, so this year is growing slower than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew −16.3%, against −7.7% a year over the last 8 quarters (rolling over); profit over the last 12 months grew −8.5%, against −7.1% a year (stabilising).

Ratnamani Metals & Tubes Ltd's operating margin was 17.0% in the Jun 2026 quarter, 1.0 percentage points higher than the same quarter a year ago. Across 13 years it has been between 15.0% and 19.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed +0.4 percentage points on the year while gross margin changed +6.6 points. So the gain came mostly from the gross margin, which means input costs and prices charged.

Over the last 3 years, 117% of Ratnamani Metals & Tubes Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹936 Cr of operating cash against ₹534 Cr of profit. After ₹507 Cr of spending on assets, ₹429 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 117% of profit came in as cash: the cash cycle got 73 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives.

What to look at next: the bigger use of cash is spending on new assets, at 3.0× depreciation over three years. The next section checks what that spending is building.

Ratnamani Metals & Tubes Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 210 days in FY26, up from 137 days in FY21. It spent ₹1,028 Cr on assets over the last 3 years. Customers take 82 days to pay, and stock sits for 174 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹4,494 Cr, each day of that cycle ties up about ₹12.3 Cr, so roughly ₹2,586 Cr is tied up in the business at any time.

FY26: customers took 82 days to pay and stock sat for 174 days, about 5.7 months of sales sitting as stock, for a full cycle of 210 days, longer than FY21's 137.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 174 days. Customers pay about 82 days after that. Suppliers are paid at 46 days. Together that makes the 210-day cycle.

Spending on assets: ₹1,028 Cr over the last 3 years, against ₹338 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹302 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Ratnamani Metals & Tubes Ltd's P/E is 39.1×, near the high end of its own history: higher than 90% of past readings. Its usual P/E (the middle reading) is 31.1×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹61.75.