Moneycontrol PRO
Open App

Buy Ratnamani Metals and Tubes: target of Rs 2000: ICICI Direct

ICICI Direct is bullish on Ratnamani Metals and Tubes has recommended buy rating on the stock with a target price of Rs 2000 in its research report dated August 11, 2022.

August 12, 2022 / 05:22 PM IST
  • bselive
  • nselive
Todays L/H

ICICI Direct's research report on Ratnamani Metals and Tubes

Ratnamani Metals & Tubes (RMTL) is a niche player with superior capabilities in the domestic industrial pipes and tube segment. RMTL manufactures a wide range of stainless steel and carbon steel pipes & tubes, which find application in key end user industries like oil & gas refineries, power, healthcare, etc. • RMTL has an impeccable capital allocation strategy and best in class operating margins and return ratios • RMTL has healthy cash flow and strong balance-sheet. It is one of the few players in the steel pipe sector having net cash position on its balance-sheet.


We maintain BUY rating on the stock. With improvement in product-mix, going forward, EBITDA margin is expected to improve from Q1FY23 levels. We value RMTL at Rs 2000, 25x FY24E EPS.

For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Ratnamani Metals and Tubes - 110822 -ic

Broker Research
first published: Aug 12, 2022 05:22 pm
ISO 27001 - BSI Assurance Mark