Rama Steel Tubes Ltd

Financial results approved

• Unaudited standalone and consolidated results for quarter ended 30 June 2026 approved.

Cost auditor appointment

• Mis Dhawan & Co appointed Cost Auditor for 2026-27.

Independent director appointment

• Anju Kumari appointed Addl Non-Executive Independent Woman Director for five years from Oct 1, 2026.

Regulatory/compliance update

• Group compliant with New Labour Codes; no material impact; evaluating effect on contract workforce.

Audit/review status

• Limited Review Report unqualified; Audit Committee recommended; Board approved results.

Key update

• Board approved sale of land and shed at Sahibabad, Ghaziabad for INR 26.75 crore.
• Asset is a non-core unit with no turnover or net worth in the last financial year.
• Date of agreement: July 17, 2026; completion subject to stipulated conditions.
• Purchaser: Paras Buildwell LLP; promoter group none.
• Not a related party transaction; not part of a Scheme of Arrangement.
• Sale does not constitute undertaking or substantial part of the undertaking per Companies Act.
• Completion contingent on terms as per Agreement.
• Aggregate sale consideration disclosed: INR 26.75 crore.
• Transaction to be completed upon fulfillment of conditions; purchaser Paras Buildwell LLP is Delhi-based.
• Unit disposed is non-core; did not contribute turnover or net worth.

Sale of non-core land and shed

• Board approves sale of land and shed at Sahibabad Industrial Area, Ghaziabad.
• Aggregate consideration fixed at INR 26.75 crore.
• Unit is non-core with zero turnover and no net worth.
• Agreement to Sell executed on July 17, 2026.
• Sale completion subject to conditions as stipulated in the Agreement.
• Buyer is Paras Buildwell LLP; not part of promoter group.
• Transaction not a related party transaction and not part of scheme.
• Not a slump sale; unit is non-core and not part of arrangement.
• Sale would not constitute undertaking or substantially the whole of the undertaking.

Instruments rated

• Long-term cash credit: Rs 80 crore; rating withdrawn; prior [ICRA]BB+ with Rating Watch.
• Short-term non-fund based – ILC/FLC and BG: Rs 30 crore; rating withdrawn; previous A4+ with Rating Watch.

Rationale and action

• Ratings withdrawn at company request following bankers' no objection certificate.
• ICRA states no information suggesting changed credit risk since last review.
• Prior rationale not captured due to withdrawal.

Financial context (prior ratings)

• FY2024 OI Rs1,046.5 cr; PAT Rs29.3 cr; OPBDITA 5.7%.
• FY2025 OI Rs1,048.1 cr; PAT Rs22.1 cr; OPBDITA 2.8%.
• FY2026* OI Rs1,124.1 cr; PAT Rs10.5 cr; Debt/OPBDITA 7.6x.

Outlook / status

• Outlook not applicable due to withdrawal of ratings.

Material change since last rating

• Ratings withdrawn; no evidence of changed credit risk since last review.

Dematerialisation status

• No dematerialisation requests received from 01/04/2026 to 30/06/2026.