Ratnamani Metals & Tubes Limited (RMTL), a leading Indian manufacturer of steel tubes and pipes, has announced a significant expansion into the Middle East market. The company has incorporated a new subsidiary, 'Ratnamani Middle East Company, LLC', in Dammam, Kingdom of Saudi Arabia, on August 25, 2025.

Joint Venture Details

The new entity is structured as a joint venture with Saudi Electrical Materials Company Limited, a SESCO group company. Ratnamani holds a 75% stake in the venture, with an investment of 15.00 million Saudi Riyals for 75 shares. The subsidiary has an authorized and paid-up share capital of 20.00 million Saudi Riyals, divided into 100 shares of 20,000 Saudi Riyals each.

Strategic Objectives

The joint venture aims to achieve several strategic objectives:

1. Provide critical tubing solutions to consumers in Saudi Arabia, Gulf Cooperation Council (GCC) countries, and potentially global markets.
2. Manufacture seamless steel tubes and pipes locally, addressing the current reliance on imports in the region.
3. Develop a local presence, enhance branding, and offer superior servicing to customers in Saudi Arabia and GCC countries.

Partnership Synergies

SESCO group, the joint venture partner, brings valuable expertise to the table. As a company engaged in providing comprehensive supply chain solutions to large process industries in Oil & Gas, Petrochemicals, and other heavy industries, SESCO will offer crucial support in various areas:

• Project implementation
• Assessment of the Saudi market
• Legal support
• Assistance in operations and management
• Compliance with local laws

Regulatory Compliance

RMTL has complied with the necessary regulatory requirements, including intimation to the stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has also uploaded this information on its website at www.ratnamani.com , as per regulatory guidelines.

Conclusion

This strategic move positions Ratnamani Metals & Tubes Limited for potential growth in the Middle East market. By localizing the production of seamless steel tubes and pipes, the company aims to tap into the demand from various industries in the region, including oil and gas, petrochemicals, and infrastructure. While the new subsidiary has not yet commenced business operations, this expansion marks a significant step in Ratnamani's international growth strategy.

Ratnamani Metals & Tubes Limited , a leading manufacturer of steel tubes and pipes, has announced key leadership appointments and released its financial results for the first quarter.

New Leadership Appointments

The company has strengthened its senior management team with two strategic appointments, effective August 1, 2025:

1. Manjindersingh M. Randhawa has been appointed as Business Head for the Stainless Steel Division. With 28 years of experience in seamless stainless steel and nickel alloys manufacturing, Randhawa brings valuable expertise to the role. He previously served as Plant Head at Ratnamani's Indrad facility and played a crucial role in setting up the Kutch plant.

2. Dhirendra Mohan Sharma has been named Business Head for Carbon Steel Line Pipes Products. Sharma, who joined Ratnamani in 2015 as General Manager Marketing, has 32 years of marketing experience. He has been instrumental in driving domestic carbon steel line pipe sales across various segments, including water, city gas distribution, and oil and gas.

Both appointments were approved by the Board of Directors based on recommendations from the Nomination and Remuneration Committee.

Q1 Financial Highlights

Ratnamani Metals & Tubes has reported robust financial results for the quarter ended June 30:

Despite a slight decrease in revenue, the company has shown significant improvement in profitability. The net profit for Q1 increased by 20.07% year-over-year to ₹12,713.48 lakhs, compared to ₹10,588.15 lakhs in the same quarter of the previous fiscal year.

Segment Performance

The company's financial results reveal strong performance across its business segments:

1. Steel Tubes and Pipes: This segment remains the primary revenue driver, generating ₹106,175.63 lakhs in Q1.
2. Bearing Rings: The segment contributed ₹7,726.22 lakhs to the total revenue.
3. Pipe Spools and Auxiliary Support Systems: This newer segment showed promising growth, adding ₹1,260.19 lakhs to the revenue.

Management Commentary

Prakash M. Sanghvi, Chairman & Managing Director of Ratnamani Metals & Tubes Limited, stated, "We are pleased with our Q1 performance, which demonstrates our resilience and operational efficiency. The strategic appointments of Mr. Randhawa and Mr. Sharma will further strengthen our leadership team and drive growth in our key business divisions."

The company's focus on diversification and value-added products appears to be yielding positive results, as evidenced by the growth in profitability despite challenging market conditions.

Ratnamani Metals & Tubes Limited continues to maintain a strong market position in the steel tubes and pipes industry, with a positive outlook for the coming quarters based on its robust order book and strategic initiatives.