Ratnamani metals & tubes Limited has issued a formal response to BSE surveillance regarding unusual volume movement in its equity shares across exchanges. The company addressed concerns raised by the stock exchange about the recent surge in trading activity.

BSE Surveillance Inquiry Details

The BSE surveillance team had sought clarification through email reference L/SURV/ONL/PV/APJ/2025-2026/918 dated February 13, 2026, regarding the significant increase in volume of the company's equity shares. The exchange's inquiry was part of routine surveillance activities to monitor unusual trading patterns.

Company's Official Response

Ratnamani Metals & Tubes clarified that no material events, information, developments, or announcements requiring disclosure under SEBI regulations have occurred. The company specifically stated that there are no events warranting disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 that could influence the price-volume movement of its scrip.

The management attributed the volume movement to purely market-driven factors based on market understanding rather than any corporate developments. This response indicates that the trading activity surge appears to be driven by investor sentiment and market dynamics rather than fundamental company news.

Compliance Confirmation

Company Secretary and Compliance Officer Anil Maloo confirmed the organization's continued adherence to disclosure requirements. The company emphasized its regular practice of disseminating unpublished price-sensitive information in accordance with Regulation 30 of the Listing Regulations.

Key compliance highlights:

• Regular disclosure of price-sensitive information
• Adherence to SEBI Listing Regulations
• Timely communication with stock exchanges
• Transparent reporting practices

The response demonstrates the company's commitment to maintaining transparency and regulatory compliance while addressing market surveillance concerns promptly.

Ratnamani Metals & Tubes Limited has announced its unaudited financial results for the quarter and nine months ended December 31, 2025, showcasing a mixed performance across its business segments. The company's consolidated results demonstrated resilient growth, primarily driven by strong contributions from its subsidiary operations, while standalone performance faced challenges from market conditions.

Consolidated Performance Highlights

The company's consolidated financial performance for Q3 FY26 showed positive momentum, supported by robust contributions from subsidiaries. The bearing rings and pipe spool businesses emerged as key growth drivers during the quarter, helping offset challenges in other segments.

Standalone Operations Face Headwinds

Ratnamani's standalone operations presented a contrasting picture during Q3 FY26. While the stainless steel division managed to achieve growth of 5%, the overall sales performance was significantly impacted by reduced demand in the carbon steel segment.

Despite the revenue challenges, the company demonstrated effective operational management by maintaining its profitability ratios through strategic cost management initiatives.

Subsidiary Performance Drives Growth

The subsidiary operations showed strong performance metrics during the quarter, with revenue from operations reaching ₹98.48 crores in Q3 2025-26 compared to ₹63.62 crores in Q3 2024-25. The EBITDA performance also improved, with margins expanding from 11% to 13% year-over-year.

Business Diversification Strategy

The company's diversified business model, spanning multiple manufacturing facilities across Gujarat and Odisha, continues to provide operational flexibility. Ratnamani operates through a well-diversified network of subsidiaries and joint ventures, including Ravi Technoforge Private Limited (RTL) and Ratnamani Finow Spooling Solutions Private Limited (RFSS), which have contributed significantly to the overall performance.

Market Position and Outlook

With over 40 years of experience in the pipes and tubes manufacturing industry, Ratnamani maintains its position as a significant player in both stainless steel and carbon steel segments. The company serves diverse industries and continues to focus on technological innovation and quality excellence across its product portfolio.

The Q3 FY26 results reflect the company's ability to navigate challenging market conditions while leveraging the strength of its subsidiary operations to maintain overall growth momentum.