India: Ratnamani reports healthy order book worth INR 1,600 cr in Q1FY’22

Ratnamani Metals and Tubes Limited (RMTL), has reported having good domestic and international orders worth INR 1,600 cr in hand for both stainless steel and carbon steel line pipe projects. Further, the company is confident to achieve their INR 3,000 cr revenue target from operations in FY’22. Operational highlights:

• Total sales revenue fell by 24% to INR 534 cr in Q1 owing to subdued demand and Covid-19 disruptions.
• Net profit was down by 54% q-o-q.

Also, the company managed to keep its material input costs under check. In addition, inventory efficiency gains went a long way in reducing the capital locked up in the working capital cycle.