Ratnamani Metals promoter group confirms no encumbrance in FY26

The promoter group of ratnamani metals & tubes has confirmed that no encumbrance was created over the shares held by them during the financial year ended March 31, 2026. This declaration was submitted in accordance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The disclosure was formally communicated to BSE Ltd. and the National Stock Exchange of India Ltd. on April 3, 2026.

The confirmation was made on behalf of the promoters, stating that they, along with persons acting in concert, have not made any encumbrance over the shares held directly or indirectly throughout the specified financial period. The communication was signed by Prakash M. Sanghvi and addressed to the corporate relationship departments of both exchanges.

Promoter Details

The disclosure provided a comprehensive list of the entities falling under the promoter category. The table below details the 23 individuals and HUFs included in the declaration.

Sr. No.	Name of Entity/Persons	Category
1.	Prakash M. Sanghvi	Promoter
2.	Reshmidevi P. Sanghvi	Promoter
3.	Vimla Pavan Sanghvi	Promoter
4.	Arunaben C. Sanghvi	Promoter
5.	Manoj P. Sanghvi	Promoter
6.	Nilesh Prakash Sanghvi	Promoter
7.	Jigar Prakash Sanghvi	Promoter
8.	Shantaben Babulal Sanghvi	Promoter
9.	Chandra Vijay Sanghvi	Promoter
10.	Ravi Pavan Sanghvi	Promoter
11.	Usha M. Sanghvi	Promoter
12.	Jitendra Babulal Sanghvi	Promoter
13.	Dimple Manoj Sanghvi	Promoter
14.	Pavan Sanghvi	Promoter
15.	Babulal M. Sanghvi	Promoter
16.	Pavankumar Mishrimal Sanghvi (HUF)	Promoter
17.	Sanghvi Prakashmal Mishrimal (HUF)	Promoter
18.	Vijay C. Sanghvi	Promoter
19.	Pinky Jitendra Sanghvi	Promoter
20.	Mahendra C. Sanghvi	Promoter
21.	Sheetal Nilesh Sanghvi	Promoter
22.	Rishabh M. Sanghvi	Promoter
23.	Payal Rajendra Doshi	Promoter

A copy of the disclosure was forwarded to the Audit Committee of the Board of Ratnamani Metals & Tubes Limited. The exchanges have been requested to place this information on record.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.73%	-4.11%	+5.24%	+12.31%	-10.48%	+99.93%

Ratnamani Metals & Tubes Limited has announced its financial guidance for FY27 during its Q4 FY26 earnings conference call. The management provided a detailed outlook for its standalone business and subsidiaries, outlining revenue expectations, margin projections, and capital expenditure plans. The company remains debt-free on a standalone basis and reported an order book of INR2,162 crores as of May 1, 2026.

FY27 Guidance: Standalone Business

The management outlined its financial guidance for FY27, assuming market normalization. The standalone business maintains a revenue guidance of INR4,800 crores to INR5,000 crores. Margin outlook for the standalone business is pegged at 16% to 17% for FY27, contingent on the Middle East conflict resolving within 3 to 5 months. Routine capital expenditure for the standalone business is guided at INR150 crores to INR200 crores.

The following table summarizes the FY27 guidance for the standalone business:

Parameter:	Guidance
Standalone Revenue (FY27):	INR4,800 crores to INR5,000 crores
Standalone EBITDA Margin (FY27):	16% to 17%
Routine CapEx:	INR150 crores to INR200 crores
Key Assumption:	Middle East conflict resolution within 3–5 months

Subsidiary Outlook: RFSS and RTL

The management also provided guidance for its subsidiaries. Ratnamani Finow Spooling Solutions (RFSS) anticipates 20% to 25% growth in FY27, with margins expected to stabilize in the range of 20% to 25%. The Middle East plant project under RFSS is expected to be completed by March 2027, with a potential spillover of up to three months. Ravi Technoforge (RTL) expects growth of 10% to 15% in FY27, with new customer segments being targeted in the coming year.

The following table summarizes the FY27 guidance for the subsidiaries:

Parameter:	RFSS	RTL
Revenue Growth (FY27):	20% to 25%	10% to 15%
Margin Outlook (FY27):	20% to 25%	—
Middle East Plant Completion:	By March 2027 (±3 months)	—
New Segments:	—	Targeted next year

Conference Call Details

The conference call was held on May 18, 2026, to discuss the financial results for the fourth quarter and full year ended March 31, 2026. The call was represented by senior leadership, including Manoj P. Sanghvi, Chief Executive Officer, and Vimal Katta, Chief Financial Officer. The transcript of the call has been made available on the company's website.