Ratnamani Metals & Tubes Reports 5.6% Rise in Q2 Net Profit, Expands Subsidiary Holdings

Ratnamani Metals & Tubes Limited , a leading manufacturer of steel tubes and pipes, has reported a 5.6% year-on-year increase in its standalone net profit for the second quarter of fiscal year 2025-26. The company's financial results, released on November 7, 2025, showcase steady growth and strategic expansion moves.

Financial Highlights

For the quarter ended September 30, 2025, Ratnamani Metals & Tubes reported the following standalone financial results:

Particulars (₹ in crore)	Q2 FY2025-26	Q2 FY2024-25	YoY Change
Revenue from Operations	939.56	897.51	4.68%
Net Profit	108.19	102.46	5.59%
Total Income	973.37	917.00	6.15%

The company's consolidated performance for the quarter showed more robust growth:

Particulars (₹ in crore)	Q2 FY2025-26	Q2 FY2024-25	YoY Change
Revenue from Operations	1,191.69	971.33	22.69%
Net Profit	156.04	99.35	57.06%
Total Income	1,218.59	990.86	22.98%

Strategic Moves and Expansions

During the quarter, Ratnamani Metals & Tubes made several strategic moves to strengthen its market position:

Subsidiary Acquisition: The company acquired 40,000 equity shares of Ratnamani Trade EU AG from minority shareholder Technoenergy AG for €400,000, making it a wholly-owned subsidiary.
Shareholding Adjustment: Ratnamani amended its agreement with Ravi Technoforge Private Limited, capping its shareholding at 75% and reducing it from 80.017% to 75.00%.
New Subsidiary Incorporation: The company incorporated a new subsidiary, "Ratnamani Middle East Company, LLC" in Dammam, Kingdom of Saudi Arabia, although operations have not yet commenced.
CSR Initiative: In collaboration with two of its subsidiary companies, Ratnamani incorporated "Ratnamani Foundation", a Section 8 Company, for CSR activities.

Segment Performance

The consolidated segment-wise revenue showed varied performance:

Steel Tubes and Pipes: ₹985.71 crore
Bearing Rings: ₹95.60 crore
Pipe Spools and Auxiliary Support Systems: ₹110.37 crore

Management Commentary

Prakash M. Sanghvi, Chairman & Managing Director, stated, "Our Q2 results reflect the company's resilience and strategic focus. The consolidation of our European operations and expansion into the Middle East market positions us well for future growth. We remain committed to enhancing shareholder value through organic growth and strategic acquisitions."

Outlook

With a strong order book and strategic expansions in place, Ratnamani Metals & Tubes appears well-positioned to capitalize on the growing demand in the steel tubes and pipes sector. The company's focus on diversification and international expansion may contribute to sustained growth in the coming quarters.

Investors and analysts will be watching closely to see how the company's recent strategic moves translate into long-term value creation and market expansion.

Note: All financial figures are based on the unaudited financial results for the quarter ended September 30, 2025, as reported by Ratnamani Metals & Tubes Limited.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.43%	-0.63%	+0.31%	-8.08%	-34.39%	+186.70%

Ratnamani Metals & Tubes Limited , a key player in the Indian metal industry, has made a significant move to incentivize its workforce. The company's Nomination and Remuneration Committee has approved the grant of 5,74,578 employee stock options (ESOPs) under the Ratnamani Employee Stock Option Scheme 2024 (RMTL ESOS 2024) for Grant II.

Key Details of the ESOP Grant

Particulars	Details
Number of Options Granted	5,74,578
Exercise Price	Rs. 1,836.00 per option
Face Value of Shares	Rs. 2.00 each
Vesting Period	Minimum 1 year to maximum 5 years from grant date
Exercise Period	Within 1 year of vesting

Pricing and Compliance

The exercise price of Rs. 1,836.00 per option was determined using a pricing formula that allows for up to a 25% discount from the market price. The closing price on November 4, 2025, on the National Stock Exchange of India Limited (NSE) was used as a reference for this calculation.

Ratnamani Metals & Tubes has confirmed that the RMTL ESOS 2024 scheme complies with the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. This adherence ensures that the company's ESOP program aligns with regulatory standards, providing transparency and fairness in its implementation.

Shareholder Approval and Implementation

The ESOP scheme received authorization from shareholders at the company's 40th Annual General Meeting held on August 27, 2024. This approval paved the way for the current grant, demonstrating the company's commitment to aligning employee interests with those of the shareholders.

Implications for Employees and the Company

The grant of ESOPs serves as a tool for employee retention and motivation. By offering a stake in the company's future growth, Ratnamani Metals & Tubes aims to foster a sense of ownership among its workforce. This move may potentially lead to increased productivity and loyalty, as employees stand to benefit directly from the company's success in the stock market.

For investors, this development signals the company's focus on long-term growth and employee engagement. The vesting period of up to five years indicates a strategy aimed at retaining talent and ensuring sustained performance over time.

As the metal industry continues to evolve, Ratnamani Metals & Tubes' decision to implement this ESOP scheme could be seen as a strategic move to maintain its competitive edge in attracting and retaining skilled professionals in a dynamic market environment.