Ratnamani Metals Q4 profit halves as revenue and margins weaken

Ratnamani Metals & Tubes Ltd. reported a sharp decline in fourth-quarter earnings, weighed down by lower revenue and operating performance.

The company posted a net profit of ₹105 crore for the quarter ended March 31, 2026, down 50% from ₹207 crore a year earlier, according to an exchange filing.

Revenue from operations fell 36.8% year-on-year to ₹1,085 crore, compared with ₹1,715 crore in the corresponding quarter last year.

Earnings before interest, tax, depreciation and amortisation (EBITDA) declined 49.2% to ₹153.6 crore from ₹302.1 crore a year ago, while EBITDA margin narrowed to 14.2% from 17.6%, the company said in its filing.

The board has recommended a dividend of ₹10 per equity share for FY26, subject to shareholder approval at the company’s 42nd Annual General Meeting. The company said the dividend, if approved, will be paid on or before September 17, 2026.

Separately, the company disclosed an adjustment related to the implementation of India’s new labour codes. Ratnamani Metals said it had earlier recognised an estimated incremental liability of ₹18.2 crore towards gratuity and compensated absences during the quarter ended December 2025, based on changes in wage definitions under the new labour framework.

Following actuarial valuation and refinement of assumptions, the liability was revised to ₹10.4 crore for FY26, resulting in a reversal of excess provision amounting to ₹7.8 crore in the March quarter results.

Shares of Ratnamani Metals & Tubes Ltd. ended lower on Friday, May 15, by 6.91% at ₹2,689.00 on the NSE.

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