ICICI Direct: Ratnamani Metals’ Performance Set To Improve, Going Forward
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ICICI Direct Report
Ratnamani Metals and Tubes Ltd. Q2 FY21 performance came in marginally below our estimates.
The performance was below our estimates primarily on the back of lower than expected sales volumes.
Carbon steel sales volume came in at 55,989 tonne (down 4% QoQ, up 10% YoY), lower than our estimate of 61,250 tonne.
Stainless steel sales volume was at 5,256 tonne (down 10% YoY, up 31% QoQ), lower than our estimate of 5,775 tonne.
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