Ravi Technoforge
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Latest Ravi Technoforge News
Aug 10, 2023
Net profit for the June quarter stood at Rs 134.86 crore against Rs 48.02 crore a year ago. Revenue rose 20 percent YoY to Rs 1174.93 crore. The company recently bought a 53-percent stake in Ravi Technoforge for Rs 98 crore. Trade × Shares of Ratnamani Metals & Tubes Ltd gained over 2 percent after the firm reported 55-percent year-on-year jump in its net profit for June quarter. At 9.30 am, the stock was trading at Rs 2,620 on BSE, up 2 percent from its previous close while India's benchmark Sensex fell 0.31 percent to 65,794 points. Net profit for the June quarter stood at Rs 134.86 crore against Rs 48.02 crore a year ago. Revenue rose 20 percent YoY to Rs 1,174.93 crore. The company recently bought a 53-percent stake in Ravi Technoforge for Rs 98 crore. There are also plans in place to further raise its stake by an additional 27 percent during the fiscal year 2025. The company's order book has seen substantial expansion, reaching a value of Rs 3,100 crore, with a major portion attributed to Domestic Carbon Steel Pipes. Future plans Ratnamani Metals specialises in the manufacturing of two primary product categories: Stainless Steel Tubes and Carbon Steel Pipes. Within the Stainless Steel segment, there are seamless tubes and welded tubes, while the Carbon Steel Pipes business encompasses Electric Resistance Welded (ERW), HSAW, and Longitudinal Submerged Arc-Welding Pipe (LSAW) pipes. During a conversation with CNBC-TV18, Manoj Sanghvi, the Business Unit Head at Ratnamani Metals and Tubes, shared that the company has set its revenue projection at Rs 4,200 crore for the ongoing financial year. Looking ahead, the company aims for a 10 percent revenue growth in the subsequent financial year. With a vision extending to 2025, Ratnamani Metals envisions achieving a revenue milestone of Rs 6,000 crore, a goal they believe is attainable, contingent upon prevailing market conditions. Moneycontrol News first published: Aug 10, 2023 09:39 am Discover the latest business news , Sensex , and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated! Trending news
Ravi Technoforge Frequently Asked Questions (FAQ)
Where is Ravi Technoforge's headquarters?
Ravi Technoforge's headquarters is located at B/H Toll Plaza Rajkot Gondal., Rajkot.
What is Ravi Technoforge's latest funding round?
Ravi Technoforge's latest funding round is Other Investors.
Who are the investors of Ravi Technoforge?
Investors of Ravi Technoforge include Canbank Venture.
Who are Ravi Technoforge's competitors?
Competitors of Ravi Technoforge include MinebeaMitsumi and 4 more.
- Predict emerging trends
- See competitors' playbooks
- Stalk the smart money
- Identify tomorrow's challengers
- Spot growing industries
- Kill analyst data work
Compare Ravi Technoforge to Competitors
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