Ratnamani Metals & Tubes Q2 Results 2024:Ratnamani Metals & Tubes declared its Q2 results for 2024 on 14 Nov, 2024, revealing a significant decline in its financial performance. The company reported a revenue of ₹971.33 crore, representing a 14.13% decrease year-over-year, and a profit of ₹100.39 crore, which is down 38.74% compared to the same quarter last year.
In comparison to the previous quarter, Ratnamani’s revenue saw a decline of 17.94%, while profits decreased by 4.51%. This downturn indicates a challenging market environment for the company, which is reflected in the rising selling, general, and administrative expenses that increased by 3.52% quarter-over-quarter and 22.56% year-over-year.
The operating income also suffered, decreasing by 7.38% quarter-over-quarter and a staggering 42.32% year-over-year. The earnings per share (EPS) for Q2 stands at ₹14.17, which is a decline of 39.57% compared to the previous year.
In terms of stock performance, Ratnamani Metals & Tubes has experienced a -4.17% return over the past week, although it has shown an 11.84% return over the last six months and 4.64% year-to-date. The company’s market capitalization is currently at ₹24,668.18 crore, with a 52-week high of ₹3,978.5 and a low of ₹2,581.5.
As of 15 Nov, 2024, among the five analysts covering Ratnamani, one has given a ‘Hold’ rating, while two analysts recommend a ‘Buy’ and two others suggest a ‘Strong Buy’. The consensus recommendation indicates a positive outlook for the company despite the recent declines in revenue and profit.
Ratnamani Metals & Tubes Financials
| Period | Q2 | Q1 | Q-o-Q Growth | Q2 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 971.33 | 1183.7 | -17.94% | 1131.21 | -14.13% |
| Selling/ General/ Admin Expenses Total | 74.21 | 71.68 | +3.52% | 60.55 | +22.56% |
| Depreciation/ Amortization | 25.89 | 26.24 | -1.34% | 23.59 | +9.78% |
| Total Operating Expense | 843.71 | 1045.91 | -19.33% | 909.94 | -7.28% |
| Operating Income | 127.62 | 137.79 | -7.38% | 221.27 | -42.32% |
| Net Income Before Taxes | 133.58 | 140.35 | -4.82% | 221.12 | -39.59% |
| Net Income | 100.39 | 105.13 | -4.51% | 163.89 | -38.74% |
| Diluted Normalized EPS | 14.17 | 15.11 | -6.22% | 23.45 | -39.57% |
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