Rama Steel Tubes to expand exports as it sees no signs of slowdown
Rama Steel Tubes saw its shares soar to a new high of Rs 185.10 on Tuesday after the company reported its highest sales volume in the December quarter (Q3 FY23).
Rama Steel Tubes saw its shares soar to a new high of Rs 185.10 on Tuesday after the company reported its highest sales volume in the December quarter (Q3 FY23).
Executive Director Richi Bansal appeared on CNBC-TV18 on Thursday to discuss the company's performance and outlook. He expressed confidence in receiving more orders in the future and stated that he does not see any signs of a slowdown for Rama Steel Tubes' business.
To expand the company's reach, Bansal announced plans to try and extend Rama Steel Tubes' exports to 25 percent of total sales. He noted that the export margin for FY23 was expected to be better than the domestic margin. In fact, he stated that exports would contribute 25 percent to the company's total sales mix in FY23.
Bansal said that export volumes for the company were at 20 percent in the December quarter and he expects healthy demand for Rama Steel Tubes' products in the coming quarters. He anticipates a growth of 25-30 percent in the fourth quarter compared to the third and expects FY23 volume to reach 1.8 lakh tonne and FY24 volume to be between 3 and 3.3 lakh tonne.
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