# Ratnaveer Precision Engineering share price today (Ratnaveer Precision Engineering Ltd, NSE: RATNAVEER)

> Ratnaveer Precision Engineering share price today: ₹379.40 at the NSE close on 3 November 2026, up 153.6% in a year. Ratnaveer Precision Engineering (NSE: RATNAVEER) is worth ₹3,186 crore, trades at a P/E of 41.7 and has closed between ₹136.52 and ₹379.40 over the past 52 weeks. > Ratnaveer Precision Engineering Ltd's share price has risen faster than its earnings: +153.6% in a year, against +7.0% for earnings per share. RATNAVEER · Stainless Steel · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/ratnaveer-precision-engineering-ltd

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## Key numbers

- Business trend: Growing steadily, from the last 12 quarters
- Price: ₹379.40 (+153.6% in a year)
- P/E: 41.7× (higher than 98% of the last 3.1 years)
- Revenue (Sep 2026): ₹387 Cr (+35.3% on a year ago)
- Profit (Sep 2026): ₹24.0 Cr (+60.0% on a year ago)
- Operating margin: 9.0% (−1.0 points on a year ago)
- ROCE: 12%, FY26
- ROIC: 10.1%, against a 12.0% cost of capital: −1.9 points

The main question: profits are rising, but only 42% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. ## What is the Ratnaveer Precision Engineering share price today? Ratnaveer Precision Engineering Ltd's share price was ₹379.40 at the close on 3 November 2026. It has been rising for 24 weeks. That is 66.5% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹137 and ₹379, and at that close it was at the high of that range. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 18 weeks in a row. Over the last 3.1 years the share price moved +226% while the NIFTY 500 moved +25%, 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. ## What changed at Ratnaveer Precision Engineering this quarter? 8 points in one quarter, foreign funds (FIIs) cut their stake for 5 quarters in a row and revenue up on a year earlier for 10 quarters in a row. 1. Promoters cut their stake by 6.8 points in one quarter From 45.5% to 38.7% in the September 2026 quarter. 2. Foreign funds (FIIs) cut their stake for 5 quarters in a row From 8.4% to 3.3% of the company by the September 2026 quarter. 3. Revenue up on a year earlier for 10 quarters in a row In the September 2026 quarter revenue was ₹387 crore, +35.3% on a year earlier. ## What are Ratnaveer Precision Engineering's latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), Ratnaveer Precision Engineering reported revenue of ₹387 crore, up 35.3% from ₹286 crore a year earlier, and a profit of ₹24.0 crore, up 60.0% from ₹15.0 crore. ### Ratnaveer Precision Engineering results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹387 crore | ₹286 crore | +35.3% |
| Profit | ₹24.0 crore | ₹15.0 crore | +60.0% |
| Earnings per share | ₹2.87 | ₹2.48 | +15.7% |
| Operating margin | 9.0% | 10.0% | −1.0 points |

The next results, for October to December 2026, are due by 14 February 2027: 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 28 September 2026, about April to June 2026; a call about these results is not in our records yet. (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.)

## What is the Ratnaveer Precision Engineering share price history? Ratnaveer Precision Engineering closed at ₹379.40 on 3 November 2026, up 153.6% from ₹149.59 a year earlier (31 October 2025) and up 205.1% over three years. Its highest weekly close since September 2023 was ₹379.40 on 3 November 2026. ### Ratnaveer Precision Engineering share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹330.70 | +14.7% |
| 1 month ago · 1 Oct 2026 | ₹345.45 | +9.8% |
| 6 months ago · 30 Apr 2026 | ₹162.90 | +132.9% |
| 1 year ago · 31 Oct 2025 | ₹149.59 | +153.6% |
| 3 years ago · 3 Nov 2023 | ₹124.35 | +205.1% |
| Earliest weekly close in our records · 15 Sep 2023 | ₹116.30 | +226.2% |
| Highest weekly close since September 2023, also the 52-week high · 3 Nov 2026 | ₹379.40 | 0.0% |
| Lowest weekly close since September 2023 · 29 Sep 2023 | ₹114.50 | +231.4% |
| 52-week low (weekly close) · 27 Mar 2026 | ₹136.52 | +177.9% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (172 weekly closes from 15 September 2023 to 3 November 2026.)

## What is the latest news on Ratnaveer Precision Engineering? 3 Nov 2026: Ratnaveer Precision Engineering closed at ₹379.40, up 14.7% on the week and up 9.8% on the month. Results for July to September 2026: Revenue up 35.3% and profit up 60.0% on a year earlier. ### Earlier

- 28 Sep 2026: Ratnaveer Precision Engineering held its results call for April to June 2026. Management guided: CCL commissioning roadmap: first-line trial by end-November or first week of December and commercial production in January-February; subsequent lines planned May-June 2027 and December 2027-January 2028. - Our read, 17 May 2026: A small-cap precision compounder morphing into a CCL first-mover, the core keeps delivering while the optionality clock ticks. ### Our read of the business

Latest quarter: Core executes; CCL story recalibrates with four guidance misses. (Our read after the latest results, written 17 May 2026.)

## What dividend does Ratnaveer Precision Engineering pay? Ratnaveer Precision Engineering has paid no dividend on the NSE since its first NSE close in our records (15 September 2023), the start of the period we checked. No. Ratnaveer Precision Engineering Ltd paid out 0% of its profit as dividends in each of its last 7 reported years, so there is no payout history to show. That comes from the filed annual statements, not an estimate. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Ratnaveer Precision Engineering management say on the latest results call? On the call for April to June 2026, held on 28 September 2026, Ratnaveer Precision Engineering's management guided: CCL commissioning roadmap: first-line trial by end-November or first week of December and commercial production in January-February; subsequent lines planned May-June 2027 and December 2027-January 2028. > “The gap between demand and supply is expected to remain a shortage for at least the next 5-7 years.”
> Vijay Sanghvi, MD, on the call for April to June 2026

### What management guided

- CCL business growth framed at 50%-60% yearly growth, with ₹750 crore FY29 revenue at full utilization across the installed lines. - FY28 CCL revenue planned at ₹350 crore from three lines. - CCL operating margin 20% and profit margin 13%; legacy stainless operating margin 13% and profit margin 7%. - FY29 consolidated revenue ₹2,500 crore, operating margin 13.5%, and profit margin 10.5%. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijoristack.ai/concall/transcript/53156-28-Sep-2026.pdf). (From the call for April to June 2026, 28 September 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## What is the future of Ratnaveer Precision Engineering? What is changing in the business? What is changing at Ratnaveer Precision Engineering, from the latest results and calls: value-added product mix shift, operating leverage from phase 2 capital spending utilization and ccl first-mover optionality (high-conviction speculative). - Value-Added Product Mix Shift. Clips/fasteners at 15-20% profit margin vs 6-8% company average, every ₹1 of mix-shift revenue is 2-3x more profitable; value-added aiming for ₹200 crore by FY27 (13% of ₹1,500 crore). ⚠ estimate
- Operating Leverage from Phase 2 Capital spending Utilization. Phase 2 (₹68 crore) generates ₹200-250 Cr incremental revenue at 80-85% utilization, fixed costs already absorbed, every new rupee flows at 15%+ profit margin. ⚠ estimate
- Geographic Expansion (31 Countries + European Acquisition). Two-star export house serving 31 countries. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Our read after the latest results, written 17 May 2026.)

## What could change the Ratnaveer Precision Engineering story? What are the risks? No written pre-orders; machine delivery August-September is critical path; 1-2 companies needed to absorb first-line output but unconfirmed in writing. ### The main risks

- CCL Execution Risk, No Written LOIs, November 2026 Production Start: No written pre-orders; machine delivery August-September is critical path; 1-2 companies needed to absorb first-line output but unconfirmed in writing. ⚠ estimate
- Stainless Steel Commodity Pass-Through Risk: 80-85% of business hedged back-to-back; 15-20% exposed to nickel/chrome spikes; geopolitical headwinds showed minimal impact so far. ⚠ estimate
- Promoter Dilution and Post-QIP Stake Decline: Promoter stake dropped from 55.48% to 42.63% post QIP; ₹330 crore additional raise will dilute further to 42-43%; warrant conversion ₹115 crore pending. ⚠ estimate
- CCL Competition, Amber Enterprises Launch Announced: if they commission earlier, first-mover premium is shared. ⚠ estimate

(Our read after the latest results, written 17 May 2026.)

## What to watch in Ratnaveer Precision Engineering's next results? When Ratnaveer Precision Engineering reports October to December 2026, these are the 4 checks that show whether the story is still on course. First: First CCL line to complete trial and commercial production on the stated timetable - check commissioning completion and initial customer orders. - What to check (from the call)
- First CCL line to complete trial and commercial production on the stated timetable - check commissioning completion and initial customer orders. - Remaining CCL machinery ordering and delivery - check whether the next installation phase advances without slippage. - Soft customer confirmations to convert into binding CCL orders after commissioning - check order-book formation. - Base-business growth and cash funding to support the roadmap - check revenue delivery alongside working-capital availability. ## Which stock lists is Ratnaveer Precision Engineering on? Ratnaveer Precision Engineering is on 3 of our India lists: Momentum stocks, 52 week high & low and Copper & metal stocks. - [Momentum stocks Market cap cr: 3182.016932685635](https://www.sectoralpha.in/momentum-stocks-india)
- [52 week high & low 52-week position: At 52-week high](https://www.sectoralpha.in/52-week-high-stocks-india)
- [Copper & metal stocks Group on the list: Steel, stainless steel and ferro alloys](https://www.sectoralpha.in/copper-stocks-india)

## Is Ratnaveer Precision Engineering profitable? Ratnaveer Precision Engineering Ltd earned ₹24.0 Cr of net profit in the Sep 2026 quarter, +60.0% on the same quarter a year earlier. That is the 10th quarter in a row of profit growth. Full-year FY26 profit was ₹64.0 Cr. Over 6 years profit has grown 44.6% a year on average. That is 6.2% of the quarter's revenue. The same quarter a year earlier earned ₹15.0 Cr. For the full year, FY26 profit was ₹64.0 Cr (+36.2% on the year before). Why profit moved: revenue changed +35.3% 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 +47.3% and revenue +20.6%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. ## How much revenue does Ratnaveer Precision Engineering make, and is it growing? Ratnaveer Precision Engineering Ltd reported ₹387 Cr of revenue in the Sep 2026 quarter, +35.3% on the same quarter a year earlier. That is the 10th quarter in a row with growth on the year before. Over 6 years it has grown 23.8% a year on average. The last full year, FY26, came in at ₹1,069 Cr. Why this happened. India is 100% import-dependent on Copper Clad Laminates. Ratnaveer received the first-ever government approval for indigenous CCL manufacturing. The global demand signal is extraordinary: AI/datacenter surge, Korea demand up 5x monthly, China constrained. The PLI structure (50% capex recovery = Rs 35 Cr back per line on Rs 70 Cr of spending) makes this one of the most heavily de-risked capex programs in Indian manufacturing. Per-line economics: Rs 70 Cr capex → Rs 108 Cr revenue at 69% utilization → 20-21% EBITDA and 13% PAT → payback under 4 years. Five lines = Rs 750 Cr incremental revenue. The risk: no written LOIs, machines not yet arrived (expected August-September), production slipped…

The last four reported quarters add to ₹1,220 Cr. FY26 revenue was ₹1,069 Cr, +19.8% on the year before. Recent pace: the last four quarters grew +20.6% on average, against 23.8% 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 +20.9%, against +26.0% a year over the last 8 quarters (rolling over); profit over the last 12 months grew +46.2%, against +37.8% a year (accelerating). ## How much of every ₹100 of sales does Ratnaveer Precision Engineering keep? Ratnaveer Precision Engineering Ltd's operating margin was 9.0% in the Sep 2026 quarter, 1.0 percentage points lower than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 7 years it has been between 6.0% and 10.0%. The latest quarter is within that range. Why this happened. The structural value-added pivot is the cleanest compounder in Ratnaveer's story. In H1 FY26 value-added products contributed 8% of revenue; management goals Rs 200 Cr (13%) by FY27 and Rs 400 Cr (22%) by year 3. The margin differential is extreme, clips/fasteners carry 15-20% PAT vs 6-8% for commodity stainless. Phase 2 capex (Rs 68 Cr, launched November-December 2025) specifically goals tubes, circle clips, and precision components. The operating leverage math is clear: if Rs 200 Cr of value-added at 15% PAT displaces Rs 200 Cr of commodity at 6% PAT, incremental PAT contribution is Rs 18 Cr (vs Rs 12 Cr prior), a pure margin lift. This driver was active in all 4 quarters of FY26…

Why the margin moved: operating margin changed −0.5 percentage points on the year while gross margin changed −0.8 points. So the drop came mostly from the gross margin, which means input costs and prices charged. When margins are at a record, every ratio built on profit looks better than usual, so watch whether they hold. ## Is Ratnaveer Precision Engineering's profit turning into cash? Over the last 3 years, 42% of Ratnaveer Precision Engineering Ltd's reported profit came in as cash from its operations, a gap worth watching. In FY26 its operations used ₹48.0 Cr of cash, against ₹64.0 Cr of profit. After ₹109 Cr of spending on assets, free cash was −₹157 Cr: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 42% of profit came in as cash: the cash cycle got 66 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. When less than 70% of profit comes in as cash, it is the thing to watch on this page. What to look at next: the bigger use of cash is spending on new assets, at 6.5× depreciation over three years. The next section checks what that spending is building. ## Where does Ratnaveer Precision Engineering's cash go? Ratnaveer Precision Engineering Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 87 days in FY26, down from 153 days in FY21. It spent ₹313 Cr on assets over the last 3 years. Customers take 60 days to pay, and stock sits for 118 days on average. At FY26 sales of ₹1,069 Cr, each day of that cycle ties up about ₹2.9 Cr, so roughly ₹255 Cr is tied up in the business at any time. FY26: customers took 60 days to pay and stock sat for 118 days, about 3.9 months of sales sitting as stock, for a full cycle of 87 days, shorter than FY21's 153. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 118 days. Customers pay about 60 days after that. Suppliers are paid at 91 days. Together that makes the 87-day cycle. Spending on assets: ₹313 Cr over the last 3 years, against ₹48.0 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 ₹82.0 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. ## What is Ratnaveer Precision Engineering's P/E ratio, and how does it compare with its own history? Ratnaveer Precision Engineering Ltd's P/E is 41.7×, about the highest it has ever been. Its usual P/E (the middle reading) is 22.6×, over 3.1 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. 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 Sep 2026 add up to ₹9.29. Why the multiple is where it is: over the past year earnings per share moved +7.0% while the price moved +153.6%. The price did better than earnings, which pushed the multiple up within its own range. Where the price move came from: over 3 years the price moved +45.0% a year; about +27.5% a year came from earnings growth and about +17.5 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple. ## What growth does the Ratnaveer Precision Engineering share price assume? Worked out from its price on 27 August 2026, Ratnaveer Precision Engineering Ltd's share price assumed profit growth of about 18.4% a year. Over the past 6 years its profit actually grew 44.6% a year. Today its P/E is 41.7×, higher than 98% of its own last 3.1 years. This is a one-day reading, taken on 27 August 2026. Every other number on this page, the multiple included, uses the latest price as of 3 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the Ratnaveer Precision Engineering business getting better or worse? Ratnaveer Precision Engineering Ltd's business is growing steadily. Revenue and profit growth have stayed positive throughout, and ROCE is steady at 18.0%. This is based on 11 quarters of 4 measures. Why it matters: steady growth with healthy returns is how a business compounds over time. ## What is the Ratnaveer Precision Engineering story, and has it been checked? Ratnaveer Precision Engineering Ltd's story is not scored yet against the checks our research set on 17 May 2026. Where it sits in its own cycle: EMERGING OPPORTUNITY. Still open: Revenue guide silently cut 10%, margin timeline pushed 2 years, CCL capex escalated 55%, production slipped, all in one call cycle without explanation. Our read, 17 May 2026. A small-cap precision compounder morphing into a CCL first-mover, the core keeps delivering while the optionality clock ticks. From the numbers. From the price. Price stage 2, week 24, above its 200-day line, relative strength rising. From the research. A small-cap precision compounder morphing into a CCL first-mover, the core keeps delivering while the optionality clock ticks. What is proven. A small-cap precision compounder morphing into a CCL first-mover, the core keeps delivering while the optionality clock ticks. What is not proven yet. Revenue guide silently cut 10%, margin timeline pushed 2 years, CCL capex escalated 55%, production slipped, all in one call cycle without explanation. The test written in advance. Management Consistency Deterioration, Four Cross-Call Contradictions. Measured by: Management Consistency Deterioration, Four Cross-Call Contradictions by the next result. The test written in advance. CCL Execution Risk, No Written LOIs, November 2026 Production Start. Measured by: CCL Execution Risk, No Written LOIs, November 2026 Production Start by the next result. The test written in advance. Negative Operating Cash Flow + Receivables Spike. Measured by: Negative Operating Cash Flow + Receivables Spike Q1 FY27 trade receivables vs Rs 110-175 Cr baseline; Rs 330 Cr QIP closure confirmation by September 2026 by the next result. What the company does. FY26 revenue Rs 1,069 Cr at 25% CAGR; OPM stabilized at 10-11%; PAT Rs 64 Cr (+36% YoY), stainless core executing without drama for 14+ consecutive quarters. CCL pivot is the real story: first government approval in India for indigenous Copper Clad Laminate manufacturing, 50% capex recovery via PLI, aiming for Rs 750 Cr incremental revenue at 20-21% EBITDA margins within 2 years. Lever 1 · Operating leverage: building. Clips/fasteners at 15-20% PAT margin vs 6-8% company average, every Rs 1 of mix-shift revenue is 2-3x more profitable; value-added aiming for Rs 200 Cr by FY27 (13% of Rs 1,500 Cr). What proves it keeps working: Value-Added Product Mix Shift. It stops working if Q1 FY27 revenue print vs Rs 340 Cr minimum; CCL machine arrival August-September 2026 confirmation; any further guidance revision in Q1 FY27 concall. Lever 2 · Value-added mix: building. Phase 2 (Rs 68 Cr) generates Rs 200-250 Cr incremental revenue at 80-85% utilization, fixed costs already absorbed, every new rupee flows at 15%+ PAT margin. What proves it keeps working: Operating Leverage from Phase 2 Capex Utilization. It stops working if Q1 FY27 revenue print vs Rs 340 Cr minimum; CCL machine arrival August-September 2026 confirmation; any further guidance revision in Q1 FY27 concall. Lever 15 · Market-share gains: building. First government approval in India for indigenous CCL; 50% capex subsidy via PLI; Rs 750 Cr revenue goal at 20-21% EBITDA, but no written LOIs and 4 guidance misses on execution timeline. It stops working if Q1 FY27 revenue print vs Rs 340 Cr minimum; CCL machine arrival August-September 2026 confirmation; any further guidance revision in Q1 FY27 concall. Sources: our stock research file (17 May 2026) · quarterly results through Sep 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did Ratnaveer Precision Engineering management deliver what it promised? What Ratnaveer Precision Engineering Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. FY27 Base Business Guidance Cut · 28 September 2026. The Nov 2025 call explicitly set FY27 revenue at 1,500 crores, and the May 2026 call reaffirmed that goal. In Sep 2026, management instead stated a current-year goal of 1,350 crores, which is 10% lower than the previously stated FY27 goal, without explaining the change. CCL Rollout and Revenue Ramp Delayed · 28 September 2026. In May 2026, management said first CCL production would come out in November 2026 and that 750 crores was achievable with full utilization in 2028. In Sep 2026, commercial production moved to January or February and FY28 CCL revenue was reduced to 350 crores from three lines, with the 750 crore goal now stated for FY29; the latest call did not explain the change. FY27 EBITDA Margin Goal Deferred and Diluted · 14 May 2026. In the Nov 2025 call, management explicitly confirmed a 13.5% EBITDA goal tied specifically to the FY27 revenue milestone of 1,500 crores for the stainless business. In the May 2026 call, 13-13.5% EBITDA is referenced only as a long-term consolidated goal at 2,500 crores inclusive of all five CCL lines at a 2.5-3 year horizon, with no standalone EBITDA guidance offered for FY27, effectively pushing the margin expansion timeline out by one to two years without explanation. CCL Per-Line Capital Expenditure Increased ~55% Without Explanation · 14 May 2026. In the Nov 2025 call, management stated the first CCL line capex at 45 crores and indicated all five lines would cost approximately that amount each. In the May 2026 call, the first CCL line capex is referenced as 70 crores and the total five-line project cost is 351 crores - implying roughly 70 crores per line versus the 45 crores stated previously, a ~55% cost escalation per line with no justification or acknowledgment provided. Every quote above is taken word for word from the company’s own earnings calls. ## What is Ratnaveer Precision Engineering management's track record? Reliability bifurcated: trust the proven core, verify the CCL optionality. ### Regulatory and governance record

No SEBI/ED enforcement, zero insider/SAST disclosures; promoter confirmed no equity encumbrance FY26. 0% Promoter shares pledged

Sources:

- [tradebrains.in](https://tradebrains.in/future-outlook-ratnaveer-precision-engineering)
- [scanx.trade](https://scanx.trade/stock-market-news/companies/ratnaveer-promoter-confirms-no-encumbrance-on-equity-shares-in-fy26/41989820)
- [ticker.finology.in](https://ticker.finology.in/ipo/ratnaveer-precision-engineering-ipo)

(Checked 30 June 2026.)

## How much does Ratnaveer Precision Engineering earn on its capital? Ratnaveer Precision Engineering Ltd earned a ROCE of 12% in FY26. That is up from a low of 11% in FY21. Its return on capital used (ROIC) is 1.9 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a 6.0% net margin and 0.85× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 6.0% net margin × 0.85× asset turnover × 1.89× leverage (assets divided by equity) ≈ 9.6% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 10.1% − 12.0% = −1.9 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. ## Does Ratnaveer Precision Engineering have too much debt? Ratnaveer Precision Engineering Ltd has total debt of ₹335 Cr against shareholder equity of ₹669 Cr as of Jun 2026, so its debt is 0.50× its equity. Year by year, that ratio went from 2.17 in FY23 to 0.50 in FY26. Keep that borrowing in mind when reading the returns on this page. ## What is the Ratnaveer Precision Engineering shareholding pattern? Promoters cut their stake in Ratnaveer Precision Engineering Ltd by 12.0 percentage points over 8 quarters, the biggest change among its owners. Promoters now own 38.7% of the company. Foreign institutions moved +1.4 points over the same period, to 3.3%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Promoters: −12.0 points over 8 quarters, to 38.7%; Foreign institutions: +1.4 points over 8 quarters, to 3.3%; Domestic institutions: +0.9 points over 8 quarters, to 1.1%. Why the owners changed: promoters drove it (−12.0 points), with the other side taken by foreign institutions (+1.4 points). They reduced their stake. ## How far is Ratnaveer Precision Engineering from balance-sheet trouble? For Ratnaveer Precision Engineering Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Ratnaveer Precision Engineering rank in its industry? 63.1 out of 100, rank 2 of 4 in Stainless Steel, with 97% of the evidence available. Ratnaveer Precision Engineering Ltd scores 63.1 out of 100 against the 4 companies it is compared with in Stainless Steel, ranking 2. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 21.3 + 9.8 + 12 + 20 = 63.1. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Ratnaveer Precision Engineering compared with? Ratnaveer Precision Engineering ranks 2 of 4 Stainless Steel companies on the 4-Factor Sector Score, with 63.1 out of 100. 1. [Aeroflex Industries Ltd](https://www.sectoralpha.in/stocks/aeroflex-industries-ltd) AEROFLEX · breaking out · Most evidence points up · 97% evidence 67.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 32.2/35 · Revenue 54.8% · Profit 91.5% · Operating margin change 1 points · 100% evidence Capital efficiency 19.4/25 · ROCE 18.9% · Operating margin 24% · 100% evidence Valuation 2.0/20 · P/E 79.3× · PEG 3.86 · 85% evidence Relative strength 14.0/20 · Lead over its industry 23.9% · Lead over NIFTY 500 63.7% · 1 year 186.6% · 100% evidence · 11 of 12 weeks ahead Exact sum: 32.2 + 19.4 + 2 + 14 = 67.6 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. Ratnaveer Precision Engineering Ltd this page RATNAVEER · leader · Evidence leans up · 97% evidence 63.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.3/35 · Revenue 20.9% · Profit 46.1% · Operating margin change -1 points · 100% evidence Capital efficiency 9.8/25 · ROCE 12.3% · Operating margin 9% · 100% evidence Valuation 12.0/20 · P/E 39.6× · PEG 0.35 · 85% evidence Relative strength 20.0/20 · Lead over its industry 43.2% · Lead over NIFTY 500 93.5% · 1 year 140.8% · 100% evidence · 12 of 12 weeks ahead Exact sum: 21.3 + 9.8 + 12 + 20 = 63.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Jindal Stainless Ltd](https://www.sectoralpha.in/stocks/jindal-stainless-ltd) JSL · quiet · Evidence leans down · 90% evidence 48.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.9/35 · Revenue 11.7% · Profit 20.3% · Operating margin change -2 points · 100% evidence Capital efficiency 16.3/25 · ROCE 19.3% · Operating margin 11% · 100% evidence Valuation 15.0/20 · P/E 16.8× · PEG 0.67 · 50% evidence Relative strength 0.1/20 · Lead over its industry -33.9% · Lead over NIFTY 500 -4.8% · 1 year -10.5% · 100% evidence · 6 of 12 weeks ahead Exact sum: 16.9 + 16.3 + 15 + 0.1 = 48.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Ratnamani Metals & Tubes Ltd](https://www.sectoralpha.in/stocks/ratnamani-metals-tubes-ltd) RATNAMANI · turning · Evidence leans down · 75% evidence 36.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 9.0/35 · Revenue -16.3% · Profit -8.5% · Operating margin change 1 points · 83% evidence Capital efficiency 17.9/25 · ROCE 17.9% · Operating margin 17% · 76% evidence Valuation 7.0/20 · P/E 37× · PEG n/a · 35% evidence Relative strength 2.1/20 · Lead over its industry -30% · Lead over NIFTY 500 -0.8% · 1 year -4.4% · 100% evidence · 6 of 12 weeks ahead Exact sum: 9 + 17.9 + 7 + 2.1 = 36 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Stainless Steel](https://www.sectoralpha.in/sectors/stainless-steel), all 4 compared on one page. ## Which companies are close to Ratnaveer Precision Engineering in size? Ratnaveer Precision Engineering is the 4th largest of 4 Stainless Steel companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Jindal Stainless, Ratnamani Metals & Tubes and Aeroflex Industries. It is the smallest. ### Stainless Steel companies close in size

1. [Jindal Stainless Ltd](https://www.sectoralpha.in/stocks/jindal-stainless-ltd) ₹55,566 crore
2. [Ratnamani Metals & Tubes Ltd](https://www.sectoralpha.in/stocks/ratnamani-metals-tubes-ltd) ₹16,256 crore
3. [Aeroflex Industries Ltd](https://www.sectoralpha.in/stocks/aeroflex-industries-ltd) ₹7,098 crore
4. Ratnaveer Precision Engineering Ltd ₹3,023 crore

[All 4 Stainless Steel companies, largest first](https://www.sectoralpha.in/sectors/stainless-steel#all-companies)

### Companies close in size in other industries

1. [JTEKT India Ltd](https://www.sectoralpha.in/stocks/jtekt-india-ltd) ₹3,042 crore · Auto Ancillaries - Gears
2. [Pondy Oxides & Chemicals Ltd](https://www.sectoralpha.in/stocks/pondy-oxides-chemicals-ltd) ₹3,033 crore · Recycling
3. Ratnaveer Precision Engineering Ltd ₹3,023 crore
4. [Gopal Snacks Ltd](https://www.sectoralpha.in/stocks/gopal-snacks-ltd) ₹3,018 crore · FMCG - Snacks
5. [Pace Digitek Ltd](https://www.sectoralpha.in/stocks/pace-digitek-ltd) ₹3,014 crore · Engineering - Turnkey Services

## What else do people ask about Ratnaveer Precision Engineering? ### What is Ratnaveer Precision Engineering's share price today? Ratnaveer Precision Engineering Ltd's share price is ₹379.40, +153.6% over the past year. The whole company is worth ₹3,186 Cr on the market. It is at its highest price of the past 52 weeks (range ₹137 to ₹379), 66.5% above its 200-day average. The price has been rising for 24 weeks (as of 3 November 2026). ### What were Ratnaveer Precision Engineering's latest quarterly results? Ratnaveer Precision Engineering Ltd reported revenue of ₹387 Cr and net profit of ₹24.0 Cr for the Sep 2026 quarter. Revenue rose 35.3% and profit rose 60.0% compared with a year earlier. Earnings per share were ₹2.87. The operating margin was 9.0%, 1.0 percentage points lower than a year earlier (as of 3 November 2026). ### What is Ratnaveer Precision Engineering's market cap? Ratnaveer Precision Engineering Ltd's market capitalisation is ₹3,186 Cr at a share price of ₹379.40. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Ratnaveer Precision Engineering performing? Ratnaveer Precision Engineering Ltd's share price has been rising for 24 weeks. In its latest quarter, revenue rose 35.3% and profit rose 60.0% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 18 weeks running (as of 3 November 2026). ### Will Ratnaveer Precision Engineering's share price go up? This page does not forecast Ratnaveer Precision Engineering Ltd's share price. What it shows instead: the share price is ₹379.40, and it has been rising for 24 weeks. Its P/E of 41.7× is higher than 98% of its own last 3 years (as of 3 November 2026). ### Who owns Ratnaveer Precision Engineering? Promoters own 38.7% of Ratnaveer Precision Engineering Ltd, foreign institutions 3.3%, domestic institutions 1.1% and the public 56.9% (latest quarter). The biggest change over the last two years: Promoters cut their stake by 12.0 percentage points over 8 quarters (as of 3 November 2026). ### Where is Ratnaveer Precision Engineering in its business cycle? Ratnaveer Precision Engineering Ltd's FY26 operating margin was 10.0%, against a 7-year range of 6.0% to 10.0%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 9.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Ratnaveer Precision Engineering story? The main question: profits are rising, but only 42% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Ratnaveer Precision Engineering a stock worth studying right now? What the numbers show: Ratnaveer Precision Engineering Ltd's share price has risen faster than its earnings: +153.6% in a year, against +7.0% for earnings per share. The main open question: whether the cash starts to follow the profit. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Ratnaveer Precision Engineering share price forecast for 2026? What management itself guided: CCL commissioning roadmap: first-line trial by end-November or first week of December and commercial production in January-February; subsequent lines planned May-June 2027 and December 2027-January 2028. What is changing at Ratnaveer Precision Engineering, from the latest results and calls: value-added product mix shift, operating leverage from phase 2 capital spending utilization and ccl first-mover optionality (high-conviction speculative). What would change the story: No written pre-orders; machine delivery August-September is critical path; 1-2 companies needed to absorb first-line output but unconfirmed in writing. ### Where does this page get Ratnaveer Precision Engineering's management information? From Ratnaveer Precision Engineering's results calls, its filings and public records on governance, each dated on the page. Management’s plans are shown as plans, never as results. ## Lists

- Momentum stocks: https://www.sectoralpha.in/momentum-stocks-india
- 52 week high & low: https://www.sectoralpha.in/52-week-high-stocks-india
- Copper & metal stocks: https://www.sectoralpha.in/copper-stocks-india

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