Profit before tax declined 7.51% to Rs 247.79 crore during the quarter as against Rs 267.92 crore recorded in Q4 FY23.

During Q4 FY24, total expenses increased 3.96% YoY to Rs 1,286.72 crore. Cost of materials consumed was at Rs 970.79 crore (up 17.48% YoY), employee benefits expense was at Rs 65.19 crore (up 7.47% YoY) and finance costs stood at 11.73 crore (down 15.79 YoY) during the period under review.

On full year basis, the company’s consolidated net profit climbed 22% to Rs 622.79 crore on 13.07% increase in revenue from operations to Rs 5,059.10 crore in FY24 over FY23.

Meanwhile, the board has recommended dividend of Rs 14 per equity share for the financial year 2023-24.

Ratnamani is one of the major manufacturers of stainless steel heat exchanger tubes in welded and seamless construction, nickel alloy seamless tubes, titanium welded tubes for applications in power generation i.e. nuclear, thermal and solar power plants, refinery and petrochemical, oil and gas, chemical and fertilizer etc.