As the federal government aims to make India the global manufacturing hub and improve the sector’s GDP share to 25 per cent from the present 16 per cent, main metal pipes maker Rama Steel Tubes has posted robust numbers within the January to March quarter led by robust demand in for iron and metal merchandise.
Incorporated in 1974, Rama Steel Tubes is a high producer of metal pipes, tubes and GI pipes. It provides merchandise to a number of industries together with agriculture, realty and others.Â
According to monetary outcomes accessible on BSE, its profit for the interval after tax was Rs 10.07 crore. The whole revenue rose to Rs 337.85 crore from Rs 197 crore for the interval ended March 31, 2023 whereas whole revenue got here in at Rs 324.1 crore.
ALSO READ:Â Indian-origin CEOs run global company giants with over $5 trillion income, surpassing India’s GDP
For the interval ended March 31, 2023, the overall revenue stood at Rs 1013.9 crore. The whole bills was reported at Rs 991.4 crore. As on March 31, 2023, the agency has a whole asset of Rs 370 crore.
“The company has delivered steady growth in volumes despite the volatile operating environment. During Q4FY23 has registered healthy set of numbers in terms of sale, revenue and profitability,” Richi Bansal, Executive Director, mentioned.
“We plan to dedicate at least 25 per cent of installed production capacity which is 344000 MT to cater to the demand of the government sector in the coming years,” he mentioned.
Besides, a new plant is being arrange in Raipur with a potential market measurement of fifty,000 MTPA. The new plant is probably going to generate 1000’s of employment alternative within the area and provides a thrust to the state’s economic system. It can also be venturing into the availability of metal pipes and tubes to metropolis fuel distribution corporations and in addition to photo voltaic vitality corporations. It already provides its merchandise to BSES Rajdhani Power, Gujarat Gas and UPCL amongst others.
