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Analyst Meet / AGM
12-Aug-15
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Conference Call
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Ratnamani Metals and Tubes
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Order book stands at Rs 944 crore
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Ratnamani Metals and Tubes conducted conference call to discuss results for the quarter ended June 2015 and way forward. Senior Management of the company addressed the call.
Highlights of the Concall
- Total income from operations rose 20.9% on a YoY basis in Q1FY'16 to Rs 429.8 crore while EBITDA rose 26.8% to Rs 91.82 crore. Bottomline of the company increased 29.8% to Rs 49.92 crore.
- On a QoQ basis Total income from operations rose 14.6% and EBITDA 44.8% while bottomline was up 54.6%.
- EBITDA margin of the company was 21.4% in Q1FY'16 compared to 20.4% in Q1FY'15 and 16.9% in Q4FY'15
- PAT margin of the company was 11.6% in Q1FY'16 compared to 10.8% in Q1FY'15 and 8.6% in Q4FY'15.
- Order book stands at Rs 944 crore, out of which order book for carbon steel is Rs 568 crore and for stainless steel is Rs 376 crore.
- Company outlook on demand is positive as up gradation of existing refineries for processing euro 5/6 fuels would likely entail huge capex by Indian oil refineries, order inflow has commenced from three new greenfieldrefineries in Kuwait/Malaysia/Nigeria, and order inflow in carbon steel business is expected from Gujarat (SauniYojna Phase2), Madhya Pradesh, Telangana& Rajasthan for water pipes
- The company is expanding its stainless steel capacity by 10000 tonnes with a capex of Rs 220 crore which wuld be complete by 2 years from now.
- 100 percent of carbon steel and 90 percent of stainless steel capacity manufacturing is against orders only.
- Order book position is maintained in the range of Rs 800- Rs 900 crore in last few quarters as new orders are taken at lower price realizations due to fall in steel prices. volume growth in order book is higher than value growth
- The company is planning to expand its stainless steel seamless tubes & pipes capacity from current 8,000 MTPA to 28,000 MTPA in next 3-4 years with an outlay of Rs 3,50 crore to meet increased demand. This coupled with routine maintenance capex and debottlenecking & balancing of existing capacities, capex is likely to be around Rs 450 crore in next 3-4 year mainly from internal accruals
- The company is is not planning any capacity expansion in carbon steel pipes segment due to sufficient unutilized capacity.
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