Further, the board will also consider the proposal for acquisition of majority stake in some of the companies and matter related thereto.

"The Board, if required would also consider to conduct an Extraordinary General Meeting/ Postal Ballot process to seek approval of the Shareholders inter-alia in respect of the aforesaid proposals(s) if the same are approved by the Board," the company said in a statement.

Rama Steel Tubes manufactures and markets steel tubes, pipes and square sections products.

On a consolidated basis, net profit of Rama Steel Tubes declined 5.49% to Rs 7.40 crore on 81.01% increase in net sales to Rs 251.90 crore in Q4 March 2022 over Q4 March 2021.