Rama Steel Tubes Ltd. Posts Growth Of 234% In A Quarter

Rama Steel Tubes Ltd. (RSTL), (BSE: 539309; NSE: RAMASTEEL), announced its second quarter financial results for FY 2015-2016 at the board meeting held recently. As was anticipated by the management, the company posted a phenomenal growth of 234 per cent, in net profit, in this quarter ending 30^th September 2015 against the preceding quarter of the same year and an increase of 147.3 per cent y-o-y. Rama Steel has recently floated a wholly owned subsidiary in Dubai which also contributed to the results for this quarter. In addition, Rama Steel Tubes has installed a manufacturing plant in Khopoli, Maharashtra with a capacity of 36,000 MT and is expected to boost both the top and bottom line margins of the company.

“There is an exponential growth in this quarter on the backdrop of initiatives taken by the management. Our wholly owned subsidiary in Dubai, UAE has already clocked a turnover of over INR 100 million and is rapidly expanding its footprints in Africa. Also, our newly launched Khopoli plant in Raigad, Maharashtra is functional and we intend to double its output capacity by the end of this financial year. Amidst good performance and consistent demand for our products, we are positive that Rama Steel will continue to maintain outstanding growth for the years to come,” says Richi Bansal, Executive Director, Rama Steel Tubes Ltd.