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Rama Steel Tubes Reports Revenue Growth of 79 Percent in Q2 FY23

Rama Steel Tubes has shared that the total sales volume in Q2 FY23 was 48,774.67 MT while it was 26,668.58 MT in the corresponding period of the previous fiscal.

November 21, 2022

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Image Source: Rama Steel Tubes

Rama Steel Tubes Ltd. (RSTL) has shared its financial performance overview of Q2 FY23, i.e. for the July- September, 2022 quarter. In Q2FY23, the total revenue stood at INR 3500.79 mn for Q2 FY23 showing robust growth of 78.64 percent as against INR 1959.66 mn in Q2FY22. Meanwhile, the total sales volume was 48,774.67 MT for Q2 FY23 showing an impressive growth of 82.89 percent as compared to 26,668.58 MT in Q2FY22.

Additionally, the total revenue was INR 5937.01 mn for H1 FY23 showing robust growth of 75.37 percent as against INR 3385.44 mn in H1 FY22. The total sales volume of 78,608.63 MT for H1 FY23 showed an impressive growth of 68.33 percent as against 46,698.18 MT in H1 FY22.

RSTL has initiated a massive capacity expansion of an additional 30,000 MT at the Khopoli Plant, Maharashtra. The expansion is expected to be completed by the end of the 2nd quarter of FY23 and commercial production is expected to begin in the 3rd quarter of FY23.

Also Read: Rama Steel Tubes to Pursue Capacity Augmentation of Khopoli Facility

Further, Rama Steel Tubes Industries Ltd. (a step-down subsidiary of RSTL) has also commenced setting up a new facility in Nigeria, South Africa with an installed capacity of 20,000 MT. The total capital investment for this expansion will be INR 200 mn and will be funded through internal accruals. The new facility is expected to be fully functional in 3rd quarter of FY23.

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