Manufactures steel pipes and tubes, and trades in building material and steel products. For FY26, total revenue was Rs 1,124.12 crore, split between the manufacturing (steel pipes) segment at 58.4% (Rs 656.43 crore) and the trading (building material and steel products) segment at 41.6% (Rs 467.68 crore). The manufacturing segment earned an EBIT margin of 2.3%, while the trading segment ran a negative EBIT margin of -0.8%, dragging consolidated net profit down to Rs 10.95 crore. Raw materials accounted for 60.5% of revenue, making steel the dominant cost input. Full-year sales volume was 215,114.20 tonnes, up 10.2% from 195,212.53 tonnes the year before, though Q4FY26 volumes fell to 43,178.42 tonnes from 55,256.30 tonnes in Q4FY25. Manufacturing facilities are located in Uttar Pradesh, Maharashtra and Andhra Pradesh, with sales reach across 16 countries. ICRA withdrew credit ratings on bank facilities worth Rs 110 crore in July 2026; the last rating was BB+. The company sold a non-core unit at Sahibabad for Rs 26.75 crore, struck off a dormant subsidiary (Rama Defence), and saw its stake in associate Bigwin Buildsys Coated Private Limited diluted from 24.80% to 9.32%. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Manufacturing - Steel Pipes (58%), Trading - Building Material & Steel Products (42%). Cyclical, asset-light steel pipe manufacturer and trader with thin margins.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 768 | 1,337 | 1,047 | 1,048 | 1,124 |
| EBITDA (ex other income) | 43 | 51 | 59 | 29 | 17 |
| margin % | 5.5 | 3.8 | 5.7 | 2.8 | 1.5 |
| Owners' profit | 27 | 27 | 29 | 23 | 13 |
| EPS, as reported (₹) | 16.41 | 1.22 | 0.50 | 0.30 | 0.08 |
| ROE % · ROCE % | 21.6 · 29.7 | 10.4 · 18.0 | 8.6 · 15.4 | 6.1 · 10.5 | 2.3 · 5.5 |
| Debt / equity (x) | 1.09 | 0.73 | 0.42 | 0.24 | 0.27 |
| Cash from operations | (35) | (96) | 18 | (6) | (109) |
| Capex | (11) | (32) | (13) | (14) | (7) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 263 | 275 | 293 | 268 | 320 | 289 | 246 | 223 |
| Profit before tax | 6 | 6 | 9 | 7 | 2 | 4 | 3 | 4 |
| Net profit | 4 | 6 | 7 | 5 | 1 | 2 | 4 | 5 |
| EPS (₹) | 0.03 | 0.04 | 0.08 | 0.03 | 0.04 | 0.01 | 0.03 | 0.03 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Manufacturing- Steel Pipes | 656 | 58.4 |
| Trading- Building Material & Steel Products | 468 | 41.6 |
| Total, before eliminations | 1,124 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| WELSPUN CORP LIMITED | 70,880 | 30.7 | 7.54 | 30.2 | 17.2 | 14.9 | 21.1 | 18.5 |
| APL APOLLO TUBES LTD |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 8 Sept 2026 · 52nd AGM scheduled for September 30, 2026 via video conferencing | compliance | minimal | — | — |
| 7 Sept 2026 · Rama Steel Tubes files BRSR for FY 2025-26 | general | medium | — | — |
| 7 Sept 2026 · Annual Report FY26 and 52nd AGM Notice - September 30, 2026 | results | high | — | — |
| 7 Sept 2026 · Rama Steel Tubes 52nd AGM Notice - Sept 30, 2026 via VC | board shareholder meetings | low | — | — |
| 1 Sept 2026 · Rama Steel Tubes publishes 52nd AGM notice in newspapers | compliance | minimal | — | — |
| 6 Aug 2026 · Board meeting on Aug 14 to approve Q1 FY27 results | results | low | — | — |
| 17 Jul 2026 · Rama Steel Tubes to sell non-core Sahibabad unit for Rs 26.75 Cr | strategic transactions | medium | — | — |
| 13 Jul 2026 · ICRA withdraws ratings on Rama Steel Tubes bank facilities | credit debt | medium | — | — |
| 8 Jul 2026 · Compliance filing under Reg 74(5) for Q1 FY27 | compliance | minimal | — | — |
| 8 Jul 2026 · Routine quarterly compliance certificate submitted to exchanges | compliance | minimal | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| 59,803 |
| 48.6 |
| 11.29 |
| 31.1 |
| 22.7 |
| 26.1 |
| 22.1 |
| 8.0 |
| SHYAM METALICS AND ENGY L | 29,979 | 26.8 | 2.43 | 12.2 | 8.6 | 11.4 | 24.1 | 14.9 |
| JINDAL SAW LIMITED | 20,016 | 30.5 | 1.63 | 10.5 | 7.5 | 6.8 | 10.9 | 9.4 |
| RATNAMANI MET & TUB LTD. | 19,815 | 45.8 | 4.71 | 23.1 | 12.7 | 15.6 | 14.4 | 18.5 |
| GODAWARI POW & ISP LTD | 15,875 | 18.6 | 2.71 | 12.0 | 13.7 | 17.0 | 5.7 | 21.0 |
| USHA MARTIN LTD. | 15,069 | 29.7 | 4.56 | 19.8 | 14.1 | 17.7 | 12.0 | 21.0 |
| GALLANTT ISPAT LIMITED | 13,270 | 30.6 | 4.00 | 17.7 | 14.6 | 16.8 | 34.4 | 17.8 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 35.7 | 16.2 | 96 of 118 | 19% |
| P/B | 1.3 | 1.7 | 39 of 99 | 60% |
| ROCE | 3.2 | 8.7 | 87 of 120 | 28% |
| ROE | 2.3 | 8.6 | 91 of 114 | 20% |
| Debt / Equity | 0.3 | 0.1 | 74 of 114 | 35% |
| EBITDA margin | 3.2 | 11.0 | 87 of 100 | 13% |
| Revenue growth | (16.7) | 13.7 | 79 of 97 | 19% |
| Profit growth | 9.9 | 29.3 | 66 of 105 | 38% |
| Market cap | 643 | 247 | 46 of 120 | 62% |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
