RAMA STEEL TUBES LTD.

Manufacturers & Exporters: ERW Steel Tubes (Black & Galvanised)

CIN: L2720lDL1974PLC007114 I AN 1509001 : 2015 CO.
o Regd. Office: 8-5, 3rd Floor, Main Road, Ghazipur, New Delhi (India) - 110096

BUILD WITH TRUST

' " +(91)-(11)-43446600 e [email protected] C) w ww.ramasteel.com

Date: August 14, 2023

To
The Manager - Listing The Secretary
National Stock Exchange of India Limited, BSE Limited,
Exchange Plaza, Bandra Kurla Complex, Corporate Relationship Dept.,
Bandra (East), P. J. Towers, Dalal Street,
Mumbai - 400051 Mumbai - 400 001.
Symbol: RAMASTEEL Scrip Code: 539309

Dear Sir jMadam,

SUB.: OUTCOME OF BOARD MEETING HELD ON AUGUST 14.2023

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015, we wish to inform you that the Board of Directors of the Company in
their meeting held today i.e. Monday, August 14, 2023, which commenced at 11:30 AM.
and concluded at 1:05 P.M., has, inter alia approved the following:

1. Considered and approved the Un-audited Financial Results (both Standalone and
Consolidated) of the Company for the quarter ended June 30, 2023 along with the
Limited Review Report of statutory auditor of the Company.

2. To enhance the capabilities of the team, the Board of Directors has re-designated and
appointed Mr. Rajeev Kohli as Chief Operating Officer (COO) of the Company on the
recommendation of the Nomination and Remuneration Committee and accordingly
Mr. Rajeev Kohli voluntarily tendered his resignation from the position of Chief
Executive Officer of the Company and the resignation will come in effect from closure
of business hours on 14th August, 2023.

3. The Board of Directors in their meeting has put forth a proposal to appoint Mr. Richi
Bansal, Executive Director of the Company, as Whole Time Director and Chief
Executive Officer (WTD&CEO) of the Company on the recommendation of Nomination
and Remuneration Committee, subject to the approval of the Shareholders in the
ensuing Annual General Meeting of the Company.

4. Appointment of Mr. Arun Kumar Gupta proprietor of Arun Kumar Gupta & Associates,
as Secretarial Auditor of the Company to conduct the Secretarial Audit fo r the year
2023-24.
 RAMA STEEL TUBES LTO.
Manufacturers & Exporters: ERW Steel Tubes (Black & Galvanised)
CIN: L2720lDL1974PLC007114 I AN ISO 9001: 2015 CO.
o Regd. Office: 8-5, 3rd Floor, Main Road, Ghazipur, New Delhi (India) -110096

BUILD WITH TRUST

e +(91)-(11)-43446600 G [email protected] 0 www.ramasteel.com

5. Appointment of Mr. Ranjeet Singh, as Internal Auditor of the Company to conduct the
Internal Audit for the year 2023-24.

6. Appointment of M/s Subodh Kumar & Co., Cost Accountants, as Cost Auditor of the
Company to conduct the Cost Audit for the year 2023-24.

Details required under Regulation 30 of SEBI (Listing Obligations and Disclosure

Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015
dated 9th September, 2015 is enclosed as Annexure 1 and 2.

Request you to kindly take the aforesaid information on your record.

'
For Rama Steel Tubes I.imited

@0< ' .~~

'Cb\
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~ .::-I-il
.
n'lI
v:. ARPIT
Digitally signed by ARPIT SURI
DN: c=IN, postalCode=282005, st=UTTAR
PRADESH, street=31 323 A2 SHANTI NAGAR
PROFESSOR COLONY KAMLA NAGAR,
l=AGRA, o=Personal,
serialNumber=020638acd2340ec12cf4eab7a
0a8aff47d167848dd006057998ee459717ebc
52,

"- SURI
pseudonym=44de619623b24bdabd35f3ecd
8998a7f,

" 2.5.4.20=45c634e1fdeaf30d50b9554bd43ca4
ff7a630b32673feda1071ac3101a5177c7,
[email protected], cn=ARPIT
SURI
Date: 2023.08.14 13:18:44 +05'30'

Arpit Suri " ;~~ . (\ .

Company Secretary & Compliance Officer
Email: [email protected]

Encl. As Above
 RAMA STEEL TUBES LTO.
Manufacturers & Exporters: ERW Steel Tubes (Black & Galvanised)
CIN : L27201DL1974PLC007114 I AN 1509001: 2015 CO.
o Regd. Office: 8-5, 3rd Floor, Main Road, Ghazipur, New Delhi (India) -110096

BUILD WITH TRUST

G +(91)-(11)-43446600 G [email protected] 0 www.ramasteel.com

Annexure -1

Details required under Regulation 30 of SEBI (Listing Obligations and Disclosure

Requirements) Regulations, 2015

Sr. Particulars Details of Change

No.
Mr. Rajeev Kohli Mr. Richi Bansal

1 Reason for Re-designated and appointed Re-designated as Whole Time

change viz. as Chief Operating Officer Director and Chief Executive
appointment, (COO) of the Company and Officer (WTD&CEO) of the
resignation, accordingly Mr. Rajeev Kohli Company.
removal, death voluntarily tendered his
or otherwise; resignation from the position
of Chief Executive Officer.
2 Date of Resignation will come in The Board of Directors at their
appointment/ effect from closure of meeting held on 14th August,
cessation (as business hours on 14th 2023, have re-designated Mr.
applicable) & August, 2023. Richi Bansal, as WTD & CEO
term of w.eJ. 01 st October, 2023 for a
appointment; The Board of Directors at period of 5 years, subject to
their meeting held on 14th approval of the shareholders.
August, 2023, has approved
the re-designation of Mr.
Rajeev Kohli as COO of the
Company w.eJ 16th August,
2023.
His term of appointment shall
be as per the policy of the
Company applicable to the
senior management as
approved by the Nomination
and Remuneration
Committee from time to time.
3 Brief profile (in Mr. Rajeev Kohli has more With over 16 Years of
case of than 25 · years of senior Experience, Mr. Richi is
appointment); management experience, responsible for the
including a decade of administrative aspect; and
strategic development and marketing and finance
plan execution at national function of the Company along
level in the steel and tube with formulation of Business
industry, most recently as Development.
CEO of the Apollo Metalex
Private Limited for 3 years,
 RAMA STEEL TUBES LTD.
Manufacturers & Exporters: ERW Steel Tubes (Black & Galvanised)
(IN: L2720lDL1974PL(007114 I AN ISO 9001 : 2015 CO.

o Regd. Office: 8-5, 3rd Floor, Main Road, Ghazipur, New Delhi (India) -110096

BUILD WITH TRUST

e +(91)-(11)-43446600 e info@ramasteel .com 0 www.ramasteel.com

he also held position of

Director in Apollo Tricoat
Tubes Limited.
Mr. Rajeev Kohli is associated
with the Company since last
more than 2 years.

4 Disclosure of Not related to Directors Son of Mr. Naresh Kumar

relationshi ps Bansal- Managing Director and
between Promoter of the Company.
directors (in
case of
appointment of
a director).
5 Information as Not Applicable We confirm that Mr. Richi
required under Bansal is not debarred from
BSE circular no. holding the office of Director
LIST/ COMP / by SEBI order or any other
14/2018-19 and such authority.
NSE circular no.
SE/ CML/ 2018/
24, dated June
20,2018. ".=~
 RAMA STEEL TUBES LTO.
Manufacturers & Exporters: ERW Steel Tubes (Black & Galvanised)
(IN: l27201DL1974Pl(007114 I AN ISO 9001 : 2015 CO.
o Regd. Office: 8-5, 3rd Floor, Main Road, Ghazipur, New Delhi (India) - 110096

BUILD WITH TRUST

e +(91) - (11)-43446600 G [email protected] 0 www.ramasteel.com

Annexure - 2
Details required under Regulation 30 of SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015

Sr. Particulars Details of Change

No.
Mr. Arun Kumar Mr. Ranjeet Singh Mr. Subodh Kumar
Gupta

1 Reason for Appointment of Mr. Appointment of Mr. Appointment of Mr.

change viz. Arun Kumar Gupta Ranjeet Singh, as an Subodh Kumar, as an
appointment, proprietor of Arun Internal Auditor of Cost Auditor of the
resignation, Kumar Gupta & the Company for the Company for the
removal, death Associates, as a financial year 2023- financial year 2023-24
or otherwise; Secretarial Auditor 24.
of the Company for
the financial year
2023-24.
2 Date of 14th August, 2023 14th August, 2023 14th August, 2023
appointment/
cessation (as Appointed for the Appointed for the Appointed for the
applicable) & Financial Year 2023- Financial Year 2023- Financial Year 2023-
term of 24 24 24
appointment;
3 Brief profile Mr. Arun Kumar Mr. Ranjeet Singh Mr. Subodh Kumar is a
(in case of Gupta is a member of has a good experienced
appointment); the Institute of knowledge about Practitioner with a
Company Secretaries financial and GST demonstrated history
having a related matters and of working in the
considerable holding the degree in Service &
experience in M.com and MBA Manufacturing
practice of the (finance) industry. Skilled in
corporate laws for Valuation of Business
over two decades. for the purpose of
Having associated Companies Act, IBC,
with various well- FEMA, Income Tax Act
known corporate Matters, Costing, Cost
bodies and Audit, Internal Audit
multinational and Consultancy
organizations, he has Services. Strong
gained in-depth services professional
knowledge of the with a Cost
operation of Accountant focused in
corporate laws. Valuations,1'~tVs~Qg,
 RAMA STEEL TUBES LTD.
Manufacturers & Exporters: ERW Steel Tubes (Black & Galvanised)
CIN : L2720lDL1974PLC007114 I AN ISO 9001 : 2015 CO.
o Regd. Office: 8-5, 3rd Floor, Main Road, Ghazipur, New Delhi (India) -110096

BUILD WITH TRUST

G +(91}-(11)-43446600 e [email protected] 0 www .ramasteel.com

Auditing, from The

Institute of Cost
Accountants of India

4 Disclosure of Not applicable Not applicable Not applicable

relationships
between
directors (in
case of
appointment
of a director).
5 Information as Not Applicable Not applicable Not applicable
required
under BSE
circular no.
LIST/ COMP /
14/2018-19
and NSE
circular no.
SE/ CML/
2018/ 24,
dated June 20,
2018. /:.:.6tEh
. ~r;~
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~
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 Alok Mittal & Associates
Ch(/r/L'rt'c/ I /cculllI/all/.I'
G-6, Saket, Ground Floo r
New Delhi 110017
Tel: 011-46113729, 416558 10
E-mail: [email protected] m
Web : www.caalokmittal.com

LIMITED REVIEW REPORT

To
The Board of Directors
MIS Rama Steel Tubes Limited
B-5, 3 rd Floor, Main Road, Ghazipur
New Delhi-110096

We have reviewed the unaudited financial results of Rama Steel Tubes Limited
(the "Company") for the quarter ended June 30, 2023 , which are included in the
accompanying "Statement of unaudited standalone financial results for the quarter ended June
30, 2023" (the "Statement"). The Statement has been prepared by the Company pursuant to
Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015, as amended (the "Listing Regulations, 2015"), which has been initialed by us for
identification purposes. The Statement is the responsibility of the Company's management
and has been approved by the Board of Directors. Our responsibility is to issue a report on the
Statement based on our review.

We conducted our review in accordance with the Standard on Review Engagements (SRE)
2410, "Review of Interim Financial Information Performed by the Independent Auditor of the
Entity" issued by the Institute of Chartered Accountants of India. This Standard requires that
we plan and perform the review to obtain moderate assurance as to whether the Statement is
free of material misstatement.

A review is limited primarily to inquiries of company personnel and analytical procedures

applied to financial data and thus provides less assurance than an audit. We have not
performed an audit and accordingly, we do not express an audit opinion.

Based on our review conducted as above, nothing has come to our attention that causes us to
believe that the Statement has not been prepared in all material respects in accordance with
the applicable Accounting Standards prescribed under Section 133 of the Companies Act,
2013 and other recognised accounting practices and policies and has not disclosed the
information required to be disclosed in terms of Regulation 33 of the Listing Regulations,
2015 including the manner in which it is to be disclosed, or that it contains any material
misstatement.

For Alok Mittal & Associates

Partner
Membership No. - 071205
UDIN: 2.-3 o"}fU75 f?, ~ u R1.-W 19 ~O
Place: New Delhi
Date: 14.08.2023
Branch Off. : 0 -163, Sector 47 , NOIDA - 201303 (U .P.), Tel : +91 120 4359513 , 4125022 .
 RAMA STEEL TUBES LTD.
Manufacturers & Exporters: ERW Steel Tubes (Black & Galvanised)
(IN: L2720lDL1974PLC007114 I AN ISO 9001 : 2015 CO.
o Regd. Office: 8-5, 3rd Floor, Ma in Road, Ghazipur, New Delhi (India) -110096

BUILD WITH TRUST

e +(91)-(11)-43446600 e [email protected] 0 www.ramasteel.com

Statement of Unaudited Standalone Financial Results for the Quarter ended June 30, 2023
(Ill ( Laklts except EPS)
Quarter Ended Year Ended
Particulars 30-Jun-23 31-Mar-23 30-Jun-22 31 -Mar-23
(Unaudited) (Unaudited) (Unaudited) (Audited)
Revenue from Operations 21,928.50 33 ,698.01 17, 820 .11 100,986.57
Other Income 105 .18 86 .80 64 . 13 399.11

Total Income 22,033.68 33,784.81 17,884.24 101,385.68

Expenses
Cost of materials consumed 18,445.87 24 ,869.76 14,227.00 85 ,5 /6. 13
Purchase of stock-in-trade 1,326. 77 2,558.69 1,752 .96 8,168.20
Changes in inventories of finished goods, work in progress and 409 .63 3,777 .1 7 876.86 1,041.7 1
stock-in-trade
Employee benefits expense 239 .87 239.84 206.66 926.32
Finance costs 304.36 363.45 232.31 1,129 .56
Depreciation and amortisation expense 96.81 81.57 71.78 308.47
Oth er expenses 43 1. 14 5 17.64 453.09 2,046 .63
Total expenses 21 ,254.45 32,408.12 17,820.67 99,137.02

Profit before share of net profits of investments in associates 779.23 1,376.69 63.57 2,248.66
and joint Ventn res
Share of net profits of associates and joint ventures - - -
Profit before Exceptional Items and Tax 779.23 1,376.69 63.57 2,248.66
Exceptional Items -
Profit before Tax 779.23 1,376.69 63.57 2,248.66
Tax expense:
(a) Current Tax 207.43 354 .25 24.8 1 566 .2 8
(b) Deferred Tax 0.94 0.10 (1.6 1) 22.42
(c) Income Tax of earlier year 14.52 14.52
Total 208.37 368.87 23.20 603.22

Profit for the period after tax 570.86 1,007.82 40.37 1,645.44

Other Comprehensive Income

Items that will Dot be reclassified to Profit & Loss
subsequently
-Remeasurement of the Defined Benefit Plans to 0.21 (0.80) (0.80) 0.85
Employees
-Net change in fair values of investment in equi ty shares 2.32 3.88 - 6.78
carried at fair value th rough OCI
-Income Tax relating to Items that will not be (0.05) 0.21 0.20 (0.2 1)
reclassified to Profit & Loss
Items that will be reclassified to Profit & Loss
subseq uently
-Exchange Difference on translation of Foreign Operations - -
operations
-Income Tax relating to Items that will be - -
reclassified to Profit & Loss
Tota l Comprehensive Income for the Period 573.34 1,011.11 39.77 1,652.86

Paid up Equity Share Capital (Face Value ~ 1/-) 4,746.06 4,658.23 839.70 4,658.23
Other Equi ty - 16,337 .72
Earn ings per equity share of ~ 1/- each
(a) Basic' 0.12 0.44 0.24 0.7 1
(b) Di luted" 0.12 0.41 0.24 0.68
, BaSIC Earnmgs per eqUIty share has been red uced dunng the quarter ended June 30, 2023 due to weIghted No of sbares IDcreased from 23 ,12,04 ,805 to
46 ,72 ,18,276 .
" Di luted Earnings per equity share calculated as per lnd- AS 33 during the quarter ended June 30, 2023 consideri ng additionally 2,7 5,7 1,164 share warrants to be
converted into equity shares.

!
 Notes:
I. These standalone financial results have been prepared in accordance with Iodian Accounting Standards (lnd- AS) as prescribed under section 133 of Companies Act,
2013 read with Rule 3 ofthe Companies (Iodian Accounting Standards) Rules, 2015 and relevant amendment thereafter.
2. The above standalone financial results have been reviewed and recommended by the Audit Committee and approved by the Board of Directors at their meeti ng held
on August 14, 2023. Limited review under regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015 has been carried out by the
statutory auditors of the company. The auditors have expressed an unqualified report on the above results.
3. The Company is carrying out the activity of Manufacturing of Pipes and Trading of steel related products. The Segment wise Results of Manufacturing and Trading
are given below:

Statement of Se!!ment wise Revenue , Results , Assets & Liabilities' -

Pa rticula rs Quarter Ended Year Ended
30-Jun-23 31-Mar-23 30-Jun-22 31-Mar-23
(Unaudited) (Unaudited) (Unaudited) (Audited)
I.Segment Total Revenue
a.Manufacturing - Steel Pipe 20,588.52 31 ,125.94 16,049.60 92,754 .26
b.Trading- Steel Pipe & Steel Products 1,339.97 2,572.07 1,770.51 8,232.31
c. Unallocated Segment - -
Total Revenue from Operations 21 ,928.49 33,698.01 17,820.11 100,986.57
2.Segment Results
a.Manufacturin g - Steel Pipe 965.21 1,639 .96 214 .21 2,915 .00
b.'Trading- Building Material & Steel Products 13 .20 13 .38 17. 54 64 .11
Total Segment results 978.41 1,653.34 231.75 2,979.11
Less:
(i) Finance Cost 304.36 363.45 232.31 1,129.56

(ii) Net unallocated expenditure/(lncome) (105 .18) (86.80) (64 .13) (399 .11)
Profit before Tax 779.23 1,376.69 63.57 2,248.66
3.Segment Assets
a.Manufacturing - Steel Pipe 39,949.30 34,021.60 23,355 .51 34,021 .60
b.'Trading- Building Material & Steel Products 2,600.04 3,019 .55 2,576.45 3,019 .55
Total Segment Assets 42,549.32 37,041.15 25 ,931 .96 37,041.15
Add: Unallocated - - -
Total Assets 42,549.32 37,041.15 25,931.96 37,041.15
4.Segment Liabilities
a.Manufacturing - Steel Pipe 18,752.99 14,737.23 11 ,802.17 14,737.23
b.'Trading- Bui lding Material & Steel Products 1,220.5 1 1,307 .99 1,301.95 1,307.99
Total Segment Liabilities 19,973.50 16,045 .22 13, 104 .12 16,045 .22
Add : Unallocated - - -
Total Liabilities 19,973.50 16,045.22 13,104.12 16,045.22

4. The Board of Director at their meeting held on February 14, 2022 has considered and approved a draft scheme of amalgamation ('scheme') under sections 230 to 232
of the Companies Act, 2013 , of Lepakshi Tubes Private Limited (Company's Wholly Owned Subsidiary) with the company. The scheme is subject to receipt of
approvals from the Hon'ble National Company Law Tribunal, Delhi bench ("NCLT") and approval of other regulatory or statutory authorities as may be required . The
scheme has already been approved by the shareholders and creditors in their respective meetings held on November 15, 2022.

5. During the quarter, the Company has made following attotment of equity shares:
I.The company has allotted 14,58 ,000 Equity Shares pursuant to conversion of warrants on April 25, 2023 along with the bonus shares reserved for the warrant
holders in the ratio of 4:1
2.The company has allotted 73 ,25 ,000 Equity Shares pursuant to conversion of warrants on June 27 , 2023 along with the bonus shares reserved for the warrant
holders in the ratio of 4: I
6. Figures for the previous periods I year have been regrouped/recast wherever necessary, to confirm to the current period's classification .
7. The figures of the quarter ended March 31, 2023 are the balancing figures between audited figures in respect of the fu ll financial year up to March 31 , 2023 and the
unaudited published year-to-date figures up to December 31 , 2022 , being the date of the end of the third quarter of the financial year which were subjected to limited
review.
8. The Standalone Financial Results for the Quarter ended June 30, 2023 are avai lable on the website of the Company (www.rarnastee1.com) and on Stock Exchanges
website (www.bseindia.com and www .nseindia.com).

For Rama Steel Tubes Limited

rc---'{~
/ (Naresh Kumar Bansal)
Managing Director
DIN : 00119213
Date : August 14,2023
Place : Delhi
 Alok Mittal & Associates
Clwr/('I"l'ci ;/('1'01111/011/,1'
G-6, Saket, Ground Floor
New Delhi 110017
Te l : 011-46113729,41655810
E-mail : [email protected]
Web : www .caalokmittal.com

LIMITED REVIEW REPORT

To
The Board of Directors
MIS Rama Steel Tubes Limited
B-S, 3rd Floor, Main Road, Ghazipur
New Delhi-ll0096

We have reviewed the accompanying Statement of unaudited quarterly consolidated

Financial Results of Rama Steel Tubes Limited ("the Parent") and its subsidiaries (the
Parent and its subsidiaries together referred to as ('the Group') and its share of the net
profit/(loss) after tax and total comprehensive incomelloss of its associates and joint ventures
for the quarter ended June 30, 2023 (the "Statement") attached herewith, being submitted by
the Parent pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015 as amended ('the Listing Regulations'),
,which has been initiated by us for identification purposes.

The preparation of the Statement in accordance with the recogmtIOn and measurement
principles laid down in Indian Accounting Standard 34 (lnd AS 34) for Interim Financial
Reporting, prescribed, under Section 133 of the Companies Act,'2013 as amended, read with
relevant rules issued thereunder and other accounting principles generally accepted in India
read with the Circular, is the responsibility of Company's management and has been
approved by the Board of Directors of the Company. Our responsibility is to express a
conclusion on the Statement based on our review.

We conducted our review of the Statement in accordance with the Standard on Review
Engagements (SRE) 2410, "'Review of interim Financial Information Performed by the
Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India.
A review of interim financial information consists of making inquiries, primarily of persons
responsible for financial and accounting matters, and applying analytical and other review
procedures. A review is substantially less in scope than an audit conducted in accordance
with Standards on Auditing and consequently does not enable us to obtain assurance that we
would become aware of all significant matters that might be identified in an audit.
Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the Circular issued by the Securities and
Exchange Board of India under Regulation 33(8) of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015 as amended, to the extent applicable.

The financial statement includes results of following entities:

Nature
Parent Com an

Foreign WOS of Rama Steel Tubes Limited

Indian WOS of Rama Steel Tubes Limited

Branch Off. : 0 -163, Sector 47, NOIDA - 201303 (U ,P,), Tel: +911204359513,412 5022 ,
 Subsidiaries
4. \ Ashoka Infra steel, Partnership \51 % share hold by Rama Steel Tubes Limited
Firm
Step down Subsidiaries
5. I RST Industries Limited I Foreign WOS of RST International Trading FZE
Associates
6. I Hagar Mega Mart Private Limited I 50% share hold by Rama Steel Tubes Limited
Joint Ventures
7. \ Pir Panchal Construction Private \25% share hold by Rama Steel Tubes Limited
Limited (AOP)

Based on our review conducted and procedures performed as stated above and based on the
consideration of the review reports of other auditors referred to below, nothing has come to
our attention that causes us to believe that the accompanying Statement, prepared in
accordance with recognition and measurement principles laid down in the aforesaid Indian
Accounting Standard specified under Section 133 of the Companies Act, 2013, as amended,
read with relevant rules issued thereunder and other accounting principles generally accepted
in India, has not disclosed the information required to be disclosed in terms of the Regulation
33 of the SEBI (Listing obligations and Disclosure Requirements) Regulations, 2015, as
amended, including the manner in which it is to be disclosed, or that it contains any material
misstatement.

The consolidated unaudited financial results include the unaudited interim financial results of
four subsidiaries(including one step down foreign subsidiary and one subsidiary having 51 %
stake) which have not been reviewed/audited by their auditors and have been certified and
furnished to us by management, whose interim financial results reflect total Revenue of
~9377 .14 Lakhs and total net profit after tax (including OCI) of ~67.88 Lakhs for the quarter
ended June 30, 2023, as considered in the consolidated unaudited financial results. Our
conclusion on the Statement, in so far as it relates to the amounts and disclosures in respect of
these subsidiaries is based solely on such unaudited interim financial results. Our conclusion
on the Statement is not modified in respect of the financial results certified and furnished by
the management.

The consolidated unaudited financial results include the unaudited interim financial results of
one of Associate--M/s Hagar Mega Mart Private Limited, Delhi whose total revenue of
~141.61 Lakhs for the quarter ended June 30, 2023 and total net profit after tax including OCI of
~259.20 Lakhs for the quarter ended June 30, 2023. Our share in net profits after tax including
OCI of ~129.60 Lakhs for the quarter ended June 30, 2023 is included in the consolidated. These
financial results are unaudited and have been furnished to us by the management and our
opinion and conclusion on the statement, in so far as it relates to the amounts included in
respect to these joint venture is based solely on such unaudited financial statements. In our
opinion and according to the information and explanations given to us by the Board of
Directors, these financial statements are not material to the company.
The consolidated unaudited financial results include the unaudited interim financial results of
one Joint Venture-MIs Pir Panchal Construction Private Limited-(AOP), Jammu whose total
revenue of ~O.OO Lakhs for the quarter ended June 30, 2023 and total net profit after tax
including OCI of ~(-) 101.96 Lakhs for the quarter ended June 30, 2023. Our share in net profits
after tax including OCI of ~(- )25.49 Lakhs for the quarter ended June 30, 2023 is included in the
consolidated. These financial results are unaudited and have been furnished to us by the
management and our opinion and conclusion on the statement, in so far as it relates to the
amounts included in respect to these joint venture is based solely on such unaudited financial
statements. In our opinion and according to the information and explanations given to us by the
Board of Directors, these financial statements are not material to the company.

For Alok Mittal & Associates

Place: New Delhi

Date: 14.08.2023
 RAMA STEEL TUBES LTO.
Manufacturers Et Exporters: ERW Steel Tubes (Black Et Galvanised)
CIN: L2720lDL1974PLC007114 I AN ISO 9001: 2015 CO.

o Regd. Office: 8-5, 3rd Floor, Main Road, Ghazipur, New Delhi (India) - 110096
G o
"
+(91)-(11 )-43446600 info@ ra masteel.com www.ramasteel.com
BUILD WITH TRUST

Statement of Unaudited Consolidated Fi nancial Results for the Quarter ended June 30, 2023
(In ~ 1 ukhs except EPS)
Quarter Ended Yea r E nd ed
Particulars 30-Jun-23 31-Mar-23 30-Jun-22 31-Mar-23
(Unaudited) (Unaudited) (Unaudited) (Aud ited
Revenue from Operations 3 1,251.62 39,923 .92 24,002.49 133,675.42
Other Income 99.95 (532 .97) 359.75 680.21
To tal Income 31,351.57 39,390.95 24,362.24 134,355.63

Expenses
Cost of materials consumed 22,848.01 28,663.35 11 ,9 14.35 92,978.59
Purchase of stock-i n-trade 5,057.95 3,368 .77 12, 116.41 4 1,992.97
Changes in inventories of finished goods, work in 793.40 4,064.29 (1 ,544.80) (10,577.28)
progress and stock-in-trade
Employee benefits expense 349.63 313 .6 1 308.58 1,3 16.73
Finance costs 719.36 661.75 384.32 2,020.95
Depreciation and amort isation ex pense 141.53 125.36 106.19 472.92
Other expenses 588.63 733 .53 568.92 2,820.88
Total expenses 30,498.51 37,930.66 23,853.97 131,025.76
Profit before share of net profits of investments in 853 .06 1,460.29 508.27 3,329.87
associates and joint Ventures
Share of net profit (Loss) of associates and joint 104. 11 (15.96) (6.97) 166.36
ventures accounted fo r usi ng the equity method
Profit before Excep tion al Items a nd Tax 957.17 1,444.33 501.30 3,496.23
Except ion al Items
Profit before Tax 957.17 1,444.33 501.30 3,496.23

Tax expense
(a) Current Tax 238.44 401.76 98.84 845.06
(b) Deferred Tax (27.11) (138. 13) (20.96) ( 107.0 1)
(c) Income Tax of earli er year 14 .52 14 .52
Total 211.33 278.15 77.88 752.56

ProfitJ(Loss) for th e period 745.84 1, 166.18 423.43 2,743.66

Other Co mpre hensive Income (OCI)

Hems that will not be reclassified to Profit & Loss
-Remeasurement of the Defined Benefit Plans to 0.98 6.11 (0.74) 3.90
Employees
-Net c hange in fai r values of investment in equity shares 2.32 (1.85) 6.78
carried at fair value through OCI
-Income Tax relating to Items that w ill not be (0.24) (1.54) . 0. 19 (0.98)
reclassified to Profit & Loss
Items that will be r eclassified to Profit & Loss
-Exchange Difference on translation of Foreign (3 .62) 16.43 63.18 138.14
Operations
-Income Tax re lati ng to Items that w ill be reclassified
to Profit & Loss
Total Comp reherisive Incom e 745.28 1,185.33 486.06 2,891.51
Loss/Profit a ttributa ble to :
(a) Owners of Parent Company 707.19 1,127.53 423.43 2,667.10
(b) Non Controll ing Interest 38.65 38.65 76.57
745.84 1,1 66.18 423.43 2,743.67
Other Co mprehensive Income att ributa ble to
(a) Owners of Parent Company (0.55) 19.15 62.63 147.84
(b) Non Controlling Interest
(0.55) 19.15 62.63 147.84
Total Co mprehensive Income attributa bl e to
(a) Owners of Parent Company 706.63 1,146.68 486.06 2,814.94
(b) Non Controlling Interest 38.65 38.65 76.57
745.28 1,185.33 486.06 2,891.51

Paid up Equ ity Share Cap ital (Face Val ue :r 1 /-) 4,746.06 4,658.23 839.70 4,658.23
Olh er Equ ity 2 1,990.70 20,353 .27 20,353 .27
Earnings per eq ui ty share of t 1 /- each
(a) Basic· 0.15 0 .50 2.89 1.22
(b) Di luted " 0.15 0.47 2.89 1.16
 Notes:
1. These consoli dated fina ncial resu lts have been prepared in accordance with Indian Acco unting Standards (lnd- AS) as prescribed under section 133 of
Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and re levant amendment thereafter.
2. The above consolidated fi nancial results have been reviewed and recommended by the Audit Committee and approved by the Board of Directors at their meeting
held on August 14,2023. Limited review under regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015 has been carried
out by the statutory auditors of the company. The auditors have expressed an unqualified report on the above results.

3. Standalone Results as on June 30 2023 are as under "-

Quarter Ended Year Ended
Particulars 3()-Jun-23 31-Mar-23 3()-Jun-22 31-Ma r-23
Unaud ited Unaudited UnauditedJ. Audited
Revenue from Operations 21 ,928.50 33,698.0 1 17,820. 11 100,986.57
Other In come 105. 18 86.80 64.13 399. 11
Profit before Tax 779.23 1,376.69 63.57 2,248.66
Profit after Tax 570.86 1,007.82 40.37 1,645.44
Total Comprehensive Income after Tax 573 .34 1,0 11.11 39.77 1,652.86

4. The Company is carrying out the activity of Manufacturing of Steel Tubes Pipes and Trading of Building Material and Steel related products. However as its
wholly owned subsid iary company in Dubai viz. RST International Trading FZE and its step down subsidi ary company in Nigeria viz. RST Industries Limited is
pursuing the bus iness of Trading of Steel Products and Non Ferrous Metal Products. Its subsidiary -Ashoka Infrasteel is also dealing into trading of steel related
products. The Segment wise Results of Manufacturing and Trading are given below :

Statement of Se2ment wise Revenue Results Assets & Liabilities· -

Particulars Quarter Ended Year Ended

3()-Jun-23 31-Mar-2J 3()-Jun-22 31-Ma r-23
(Unaudited) (Una udited) (Unaudited) (Audited)
l.Segment Total Revenu e
a. Manufacturing - Steel Pipe 22,280.67 31 ,608 .92 14,051.21 92,598.96
b.'Trading- Building Material & Steel Products 8,970.95 8,315 .00 9,951.29 41,076.46
c. Unallocated Segment
3 1,25 1.62 39,923 .92 24,002.50 133,675.42
'Less: Intersegment Revenue
Total Revenue from Operations 31 ,251.62 39,923.92 24,002.50 133,675.42
2.Seg ment Results
a.Manufacturi ng - Steel Pipe 1,374.43 1,863.75 257.02 3,642.38
b.'Trading- Building Material & Steel Products 202.15 775.3 1 268.85 1,194.59
Total Segment results 1,576.58 2,639.06 525.87 4,836.96
Less:
(i) Fi nance Cost 71 9.36 66 1.7 5 384.32 2,020.95
(i i) Net una ll ocated expenditure/(lncome) (99.95) 532.97 (359.75) (680.2 1)
Total Profit before Tax 957.17 1,444.34 501.30 3,496. 23
3.Segment Assets
a.Manufacturing - Steel Pipe 37,368.34 33,927 .99 23 ,758.2 1 33,927 .99
b.'Trading- Building Material & Steel Products 33 ,203.75 35,563.25 14,399. 16 35,563 .25
Total Segment Assets 70,572.09 69,491.24 38, I 57.37 69,491.24
Add: Unallocated
Total Assets 70,572.09 69,491.24 38,157.37 69,491.24
4.Segment Liab ilities
a.Manufacturing - Steel Pipe 18,168.3 1 14,769.33 11,487.55 14,769.33
b.'Trading- Building Material & Steel Products 25,667.02 29,710.42 10,542.22 29,7 10.42
Total Segment Liabilities 43,835.33 44,479.75 22,029.77 44,479.75
Add: Unallocated
Total Li abilities 43,835.33 44,479.75 22,029.77 44,479.75

5. The Board of Director at their meeting held on February 14, 2022 has considered and approved a draft scheme of amalgamat ion (,scheme') under sections 230 to
232 of the Compan ies Act, 2013, of Lepakshi Tubes Private Limited (Company's Wh olly Owned Subsidiary) with the company. The scheme is subj ect to
rece ipt of approvals from the Hon'ble National Company Law Tribunal, Delhi bench ("NCLT") and approval of other reg ulatory or statutory authorities as may
be required. The scheme has already been approved by the shareho lders and creditors in their respecti ve meetings held on November 15, 2022.

6 During the quarter, the Group has made fo llowi ng attotment of shares:
l.The company has allotted 14,58,000 Equity Shares pursuant to conversion of warrants on April 25, 2023 along with the bonus shares reserved for the warrant
holders in the ratio of 4: I
2.The company has allotted 73,25,000 Equ ity Shares pursuant to conversion of warrants on June 27, 2023 along with the bonus shares reserved for the warrant
holders in th e ratio of 4: I

The fi gures of the quarter ended March 31, 2023 are the ba lancing figures between audited figures in respect of the full financial year up to March 3 1 , 2023 and
the unaudited published year-ta-date figures up to December 31, 2022, being the date of the end of the third quarter of th e financia l year which were subjected to
limited review.
Fig ures for the previous periods I year have been regrouped/recast wherever necessary, to confirm to the current period's classification.
9 The Consolidated Financial Results for the Quarter ended June 30, 2023 are available on the website of the Company (www. ramasteel.com) and on Stock
Exchanges webs ite (www.bseindia.com and www. nseindi a.com).
For Rama Steel Tubes Lim ited

(Naresh Kumar Bansal)

Managing Director
DIN: 00119213
Date : August 14, 2023
P lace: Delhi