Supplies specialty industrial chemicals, primarily tungsten-based compounds such as Yellow Tungsten Oxide and Ammonium Paratunstate, to industrial buyers in metallurgy, ceramics and related sectors. Revenue from operations rose to Rs. 1,275.83 lakhs in FY26 from Rs. 56.59 lakhs the prior year, with the company swinging to a Rs. 280.33 lakh profit versus a Rs. 171.94 lakh loss previously. Disclosed recent orders include a Rs. 9,64,06,000 contract for 3,000 KG of Yellow Tungsten Oxide and 2,000 KG of Ammonium Paratunstate, and an earlier Rs. 12.56 crore order for 6 MT of Yellow Tungsten Oxide from Cocreate Global Technologies that was cancelled within two days of being announced. The Sabarkantha factory was sold by special resolution on January 23, 2024 and transferred on June 18, 2024, while the registered office moved from Gandhinagar to Ahmedabad effective October 1, 2025, consistent with a shift away from the original Iron & Steel Products classification. Employee costs run at 1.8% of revenue and other operating expenses at 5.9%, giving a lean cost structure. The company raised Rs. 6.79 crore through a preferential issue in December 2025 and allotted convertible warrants that, if fully converted, could raise up to Rs. 29.93 crore more. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Specialty chemicals supply. Small, recently restructured specialty chemicals supplier with a low fixed-cost base and a history of accumulated losses (reserves negative at Rs. 66.74 lakhs)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 21 | 7 | 1 | 1 | 13 |
| EBITDA (ex other income) | 1 | (3) | (3) | (3) | 3 |
| margin % | 3.1 | (43.4) | (519.5) | (547.0) | 20.3 |
| Owners' profit | 0 | (4) | (3) | (2) | 3 |
| EPS, as reported (₹) | 2.77 | (2.63) | (2.18) | 1.72 | 1.49 |
| ROE % · ROCE % | 0.3 · 1.8 | (29.1) · (19.8) | (28.7) · (20.7) | (12.6) · (10.1) | 10.8 · 10.9 |
| Debt / equity (x) | 0.18 | 0.44 | 0.46 | 0.01 | 0.00 |
| Cash from operations | (0) | (6) | 0 | 4 | (18) |
| Capex | (0) | 0 | 0 | 0 | 0 |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 4 | 8 | 14 |
| Profit before tax | (1) | (0) | 0 | (0) | (0) | 1 | 2 | 2 |
| Net profit | (1) | (0) | 0 | (0) | (0) | 1 | 2 | 2 |
| EPS (₹) | (0.83) | (0.08) | 0.47 | 0.16 | 0.11 | 0.93 | 1.49 | 1.35 |
| 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 | 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 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 9 Sept 2026 · Newspaper publication of 13th AGM notice and e-voting details | compliance | minimal | — | — |
| 7 Sept 2026 · Umiya Tubes 13th AGM on Sep 30, FY26 PAT at Rs 280.33 Lakhs | board shareholder meetings | medium | — | — |
| 7 Sept 2026 · Umiya Tubes files FY26 Annual Report and 13th AGM notice; auditor change proposed | results | high | — | — |
| 7 Sept 2026 · Newspaper ad filed for 13th AGM e-voting information | compliance | minimal | — | — |
| 7 Sept 2026 · Board approves revised 13th AGM notice and appoints new statutory auditors | board shareholder meetings | low | — | — |
| 5 Sept 2026 · Board approves 13th AGM notice for September 30, 2026 | board shareholder meetings | low | — | — |
| 19 Aug 2026 · Q1 FY27 profit at Rs 174.66L, office shifted within Ahmedabad | general | low | — | — |
| 19 Aug 2026 · Umiya Tubes Q1 FY27 Results: Revenue Rs 13.59 Cr, PAT Rs 1.75 Cr | results | high | — | — |
| 19 Aug 2026 · Umiya Tubes Q1 FY27 PAT rises to Rs 174.66 lakh on revenue rebound | results | high | — | — |
| 30 Jul 2026 · Reg 74(5) certificate filing for Q1 FY27, nil demat activity | 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 |
| 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) | 6.0 | 16.2 | 22 of 118 | 82% |
| P/B | 1.2 | 1.7 | 32 of 99 | 66% |
| ROCE | 10.8 | 8.7 | 51 of 120 | 58% |
| ROE | 10.8 | 8.6 | 45 of 114 | 61% |
| Debt / Equity | 0.0 | 0.1 | 11 of 114 | 79% |
| EBITDA margin | 12.8 | 11.0 | 41 of 100 | 60% |
| Profit growth | 1017.8 | 29.3 | 4 of 105 | 97% |
| Market cap | 30 | 247 | 90 of 120 | 25% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| 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.
