Further, the company, in its press statement, said that, "during the search operations company extended its full co-operation to the Income Tax officials and provided all the information/ documents, sought for. We do not foresee any material impact on the company's current or future business operations. Further, as an organization, the company continues to conform to the highest standards of corporate governance, as demonstrated in the past."

On a consolidated basis, the company posted a 26.1% rise in net profit to Rs 71.52 on a 23.4% surge in net sales to Rs 711.70 crore in Q2 FY22 over Q2 FY21.

Ratnamani Metals & Tubes is engaged in providing total piping solutions to a diverse range of industries.