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ICICI Direct Report
Ratnamani Metals and Tubes Ltd. reported a subdued set of numbers for Q1 FY22.
For Q1 FY22, revenue from operations stood at Rs 526 crore (down 9% YoY, 24% QoQ), lower than our estimate of Rs 592 crore.
Stainless steel segment reported sales volume of 3643 tonnes (down 9% YoY) while carbon steel segment reported sales volume of 48687 tonnes (down 17% YoY).
Ebitda for the quarter was at Rs 85 crore (up 11% YoY but down 47% QoQ), lower than our estimate of Rs 104 crore.
Ebitda margin for the quarter was at 16.1%, lower than our estimate of 17.5% (Ebitda margin of 13.1% in Q1 FY21 and 22.8% in Q4 FY21).
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