Ratnamani Metals & Tubes is engaged in the manufacturing of stainless steel pipes and tubes and carbon steel pipes at Kutch, Indrad and Chhatral in the state of Gujarat. Current Order book stands at INR 1569 crores which includes orders from SS and CS division at `1,053cr and `516cr, respectively.It’s debt dependency is also very low with a debt-equity of 0.05x. Ratnamani regularly pays dividend of an average 15%. It currently trades at a PE of 20.2x and delivers RoCE of 25.9%. Hence, Buy.
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