Rhetan Tmt Limited (RHETAN)

Loading page…

Rhetan Tmt Limited (RHETAN) · mywealthgrid

About

Rhetan Tmt Limited manufactures iron and steel products (TMT bars). Operates at modest scale—quarterly standalone revenues of ₹4–₹8.5 Crore—with promoter control at 62% and minimal institutional participation (FII 0.34%).

Face value: ₹1

Market cap

₹1,326 Cr

P/E

104.4×

P/B

12.2×

Dividend yield

ROE

10.2%

ROCE

12.3%

Debt / equity

0.38

OPM

27.1%

EPS (TTM)

₹0.2

Book value

₹1.4

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Jun 2026 operating margin collapsed to -16.5% on ₹4.06 Cr revenue; verify operational challenges (cost overruns, pricing pressure, capacity underutilization)
Extreme margin volatility: OPM ranged from -41.6% (Mar 2025) to 63.26% (Sep 2024); check if structural or purely cyclical
PE ratio 132.08x prices in recovery not yet evidenced in recent quarters
Near-zero institutional ownership (FII 0.34%, DII 0%) suggests limited research coverage and potential liquidity risk

Generated analysis · source review pending

Growth drivers

Peak profitability demonstrated: Sep 2024 achieved 63.26% OPM and Dec 2025 reached 38.86%, showing operational capability exists
Jun 2026 returned net profit ₹3.16 Cr after losses; verify if from business recovery or one-time gains
Low leverage (D/E 0.38) enables reinvestment if demand normalizes; verify capex plans and current utilization rates

Generated analysis · source review pending

858 historical price candles were omitted because the exchange source has not been verified.

₹16.6-0.3%1Y

Quick read

rule-based

Pros

+Healthy operating margin of 27.1%
+Comfortable interest coverage of 10.3×
+High promoter holding of 62.1% with no pledge

Cons

−Low return on equity of 7.7% (3-yr avg)
−Expensive at 104.4× trailing earnings
−Trading at 12.2× book value

Research score

Structured signal from quality, growth, valuation and momentum.

34/100

Business quality: 53
Growth: 50
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Loading peers…

Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2025	Mar 2026
	37	24
COGS	-28	13
Gross profit	—	11
	61	5
	4	7
OPM %	11.6%	27.1%
Depreciation	1	1
Interest	2	1
	3	9
Profit before tax	5	13
Tax	0	3
Tax %	5.9%	21.8%
	5	10
PAT margin %	13.3%	42.1%
EPS (₹)	0.1	0.2
EPS adjusted (₹)	0.1	0.1
Annual report	Annual report for Mar 2025	—

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	13	80	80	80	80
Reserves	11	5	9	14	29
	26	17	16	22	42
	9	10	9	8	15
Total equity & liabilities	59	113	114	124	165
	8	9	17	16	16
CWIP	—	—	—	—	6
Investments	1	1	1	3	7
	50	103	96	104	136
Total assets	59	113	114	124	165

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-14	-44	14	5	1
	-0	-1	-9	-4	-9
	14	45	-4	-2	7
Net cash flow	-0	0	1	-1	0
Free cash flow	-15	-45	5	3	1
CFO / Operating profit %	—	—	—	115.6%	20.2%

Compounded sales growth

7 years: —
5 years: —
3 years: —
1 year: -34%

Compounded profit growth

7 years: —
5 years: —
3 years: —
1 year: 108%

Return on equity

7 years: —
5 years: —
3 years: —
Last year: 10%

Loading financials…

Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2025	Mar 2026
Margins
Gross margin %	—	46.8%
EBITDA margin %	11.6%	27.1%
EBIT margin %	9.1%	24.8%
PAT margin %	13.3%	42.1%
Working capital
Receivable days	224	365
Inventory days	443	1,432
Payable days	—	180
NWC days	—	1,617
Leverage
Current ratio	4.44	4.25
Debt to EBITDA	5.12	6.29
Debt to equity	0.23	0.38
Interest coverage	4.4	10.3
Asset turnover	0.3	0.15
Return ratios
Return on assets %	4%	6.2%
Return on capital employed %	6.7%	12.3%
Return on equity %	5.3%	9.5%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

Loading ratios…

Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Mar 2023	Sep 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	62.12%	62.12%	62.12%	62.12%	62.12%	62.12%	62.12%	62.12%	62.12%	62.12%	62.12%	62.12%
	0.55%	0.54%	0.37%	0%	0.15%	0%	0%	0%	0%	0.63%	0.87%	0.34%
DII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	37.33%	37.34%	37.51%	37.88%	37.73%	37.88%	37.88%	37.88%	37.88%	37.25%	37.01%	37.54%
No. of shareholders	—	—	—	—	—	—	—	—	87,947	82,047	78,105	76,501

Promoter holding up 0 percentage points since Mar 2023.

78 deals · 5 Sept 2022 – 28 Sept 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
28 Sept 2026	JAGID VANITABEN RAJENDRAPRASAD	Bulk	NSE	Sell	1,04,97,211	₹15.56	₹16.33 Cr
28 Sept 2026	JAGID VANITABEN RAJENDRAPRASAD	Bulk	NSE	Buy	94,30,260	₹14.71	₹13.87 Cr
28 Sept 2026	PANCHAL HIREN JAGDISHBHAI	Bulk	NSE	Sell	80,00,000	₹14.51	₹11.61 Cr
28 Sept 2026	RATHOD YUVRAJSINH	Bulk	NSE	Sell	69,10,353	₹14.44	₹9.98 Cr
28 Sept 2026	SHIVAM VIRENDRA SHARMA	Bulk	NSE	Sell	51,00,000	₹14.44	₹7.36 Cr
28 Sept 2026	PRIJAL TRADEFIN LLP	Bulk	NSE	Buy	42,00,000	₹14.66	₹6.16 Cr
28 Sept 2026	PRIJAL TRADEFIN LLP	Bulk	NSE	Sell	41,00,000	₹15.14	₹6.21 Cr
9 Sept 2026	SHIVAM VIRENDRA SHARMA	Bulk	NSE	Buy	87,25,000	₹28.51	₹24.87 Cr
9 Sept 2026	RATHOD YUVRAJSINH	Bulk	NSE	Buy	87,00,000	₹28.51	₹24.80 Cr
9 Sept 2026	PANCHAL HIREN JAGDISHBHAI	Bulk	NSE	Buy	87,00,000	₹28.51	₹24.80 Cr

1–10 of 78

1 / 8

Mr. Ashok Chinubhai ShahNon-Executive - Non Independent Director-Chairperson related to Promoter
Mr. Shalin Ashok ShahExecutive Director-MD
Mr. Rushabh Rajnikantbhai ShahNon-Executive - Independent Director
Mrs. Deepti Ghanshyam GavaliNon-Executive - Independent Director
Mr. Swapnil Sharad ShimpiNon-Executive - Independent Director
Mr. Yash Vishwanath BodadeNon-Executive - Independent Director
Subha Ranjan DashChief Financial Officer
Mr. Tanuj JainCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

Loading shareholding…

F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

Loading f&o…

Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Rhetan Tmt Limited. Portfolios are published monthly by each AMC; coverage is still partial.

Loading fund holders…

Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Documents link to external sources (exchange filings, company investor pages).

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

1

Board meeting to consider results12 Aug 2026

1

Face value ₹10 → ₹110 Mar 2023 · ex-date

1

Bonus 11:410 Mar 2023 · ex-date

Loading events…

Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

6 announcementsExport CSV

16 Sept 2026, 8:44 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Management

Change in Management PDF

16 Sept 2026, 8:38 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Management

Change in Management PDF

16 Sept 2026, 8:29 pmCompany Update

Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s

Appointment of Statutory Auditor/s PDF

16 Sept 2026, 8:19 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

16 Sept 2026, 6:00 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

5 Sept 2026, 2:42 pmCompany Update

Announcement Under Reg 30 (LODR)-Exploring Entry Into The Corrosion Resistant Steel (CRS) TMT Bars Market

General PDF

Date	Category	Subject	Filing
16 Sept 2026, 8:44 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF
16 Sept 2026, 8:38 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management

Loading announcements…

Ratio	Mar 2025	Mar 2026
Margins
Gross margin %	—	46.8%
EBITDA margin %	11.6%	27.1%
EBIT margin %	9.1%	24.8%
PAT margin %	13.3%	42.1%
Working capital
Receivable days	224	365
Inventory days	443	1,432
Payable days	—	180
NWC days	—	1,617
Leverage
Current ratio	4.44	4.25
Debt to EBITDA	5.12	6.29
Debt to equity	0.23	0.38
Interest coverage	4.4	10.3
Asset turnover	0.3	0.15
Return ratios
Return on assets %	4%	6.2%
Return on capital employed %	6.7%	12.3%
Return on equity %	5.3%	9.5%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Welspun Corp LimitedWELCORPWELCORP	₹68,741 Cr	₹70,904 Cr	₹17,300 Cr	₹2,403 Cr	13.3%	₹2,309 Cr	9.7%	19.2%	19.4%	85
Apl Apollo Tubes LimitedAPLAPOLLOAPLAPOLLO	₹58,753 Cr	₹59,205 Cr	₹22,897 Cr	₹1,841 Cr	7.8%	₹1,229 Cr	5.2%	30.8%	25.3%	-12
Shyam Metalics And Energy LimitedSHYAMMETLSHYAMMETL	₹29,244 Cr	₹30,225 Cr	₹19,574 Cr	₹2,519 Cr	12.6%	₹860 Cr	5.7%	13.5%	9.7%	8
Ratnamani Metals & Tubes LimitedRATNAMANIRATNAMANI	₹18,362 Cr	₹18,666 Cr	₹4,314 Cr	₹732 Cr	16.9%	₹433 Cr	11.9%	17.8%	12.5%	210
Jindal Saw LimitedJINDALSAWJINDALSAW	₹17,286 Cr	₹21,976 Cr	₹18,263 Cr	₹1,941 Cr	12.4%	₹653 Cr	5.2%	11.4%	8.1%	159
Usha Martin LimitedUSHAMARTUSHAMART	₹14,982 Cr	₹15,128 Cr	₹3,837 Cr	₹768 Cr	19.1%	₹507 Cr	12.6%	20%	15.4%	190
Godawari Power And Ispat LimitedGPILGPIL	₹14,517 Cr	₹14,943 Cr	₹5,808 Cr	₹1,263 Cr	23.3%	₹808 Cr	14.9%	20.1%	14.9%	73
Gallantt Ispat LimitedGALLANTTGALLANTT	₹12,793 Cr	₹13,340 Cr	₹4,437 Cr	₹655 Cr	16.2%	₹436 Cr	11%	19.2%	15.7%	58
Maharashtra Seamless LimitedMAHSEAMLESMAHSEAMLES	₹9,363 Cr	₹9,377 Cr	₹4,620 Cr	₹696 Cr	14.6%	₹737 Cr	15%	13.6%	10.6%	153
Jayaswal Neco Industries LimitedJAYNECOINDJAYNECOIND	₹8,863 Cr	₹10,960 Cr	₹7,589 Cr	₹1,409 Cr	18.6%	₹564 Cr	6.5%	22.9%	17.8%	151
Sunflag Iron And Steel Company LimitedSUNFLAGSUNFLAG	₹7,812 Cr	₹8,286 Cr	₹3,995 Cr	₹476 Cr	12.1%	₹206 Cr	5.1%	3.8%	2.3%	95
Man Industries (India) LimitedMANINDSMANINDS	₹6,912 Cr	₹7,411 Cr	₹3,875 Cr	₹532 Cr	12.3%	₹204 Cr	4.8%	18.4%	9.2%	114

Rhetan Tmt Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

Board meetings1

Stock splits1

Bonus issues1

Announcements

Ratio timeline

Not in the F&O segment

Announcements

Annual reports

Board meetings1

Stock splits1

Bonus issues1

No fund holdings on record

Quarterly record

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

1

1

1

1

1

1