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Updated: May 16, 2025 20:09
Ratnamani Metals & Tubes has announced its consolidated financial performance for the quarter ended March 2024, with resilience in revenue and profit, as well as rewarding shareholders with a sizeable dividend.
Highlights
Consolidated revenue from operations during the March quarter was Rs 1,715 crore, demonstrating a stable year-on-year performance.
Net profit for the quarter was Rs 207 crore, sustaining the profitability momentum of the company.
The Board has declared a final dividend of Rs 14 per share for financial year 2023-24, maintaining the company's history of rewarding its shareholders. The ex-dividend date shall be August 20, 2024.
Performance snapshot
Much as there was a small decline in sales in the same quarter last year, Ratnamani Metals & Tubes were able to increase its net profit, highlighting cost control and operating efficiency. For the year as a whole, the firm's net profit increased by 22% to Rs 622.79 crore, with overall sales rising by 13% to Rs 5,059.10 crore, highlighting consistent business growth.
Dividend consistency
The Rs 14 per share final dividend is the company's highest dividend in recent times, an indication of confidence in the company's financial standing and a focus on shareholder value. This follows a trend of consistent and rising dividends over the last few years.
Market outlook
Ratnamani Metals & Tubes continues to be the leader in the carbon steel and stainless steel pipes and tubes business, and its recent earnings reinforced its image for stability as well as shareholder-friendly policies. Shareholders have reason to look forward to the dividend distribution in August, while the company continues its growth path.
Sources: Business Standard, BlinkX, Moneycontrol
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