Rama Steel Tubes Limited: ICRA Withdraws Ratings on Bank Facilities
Rama Steel Tubes Limited's credit ratings for ₹110 crore in bank facilities have been withdrawn by ICRA Limited at the company's request. The withdrawal is effective July 13, 2026. ICRA cited no change in credit risk since the last review. Previous ratings were [ICRA]BB+ and [ICRA]A4+.
The withdrawal of ratings by ICRA, at the company's request and without a change in credit risk, is unlikely to have a significant immediate impact on the company's operations or market standing.
The rating withdrawal is a procedural event initiated by the company and does not inherently indicate a positive or negative change in the company's financial health, as ICRA stated no change in credit risk.
Rama Steel Tubes Limited has announced the withdrawal of its credit ratings for Long-term Fund based Cash Credit and Short Term Fund based Cash Credit facilities by ICRA Limited. The total amount rated was ₹110 crore, comprising ₹80 crore for the long-term cash credit and ₹30 crore for the short-term non-fund based facilities (ILC/FLC and BG).
This withdrawal is effective from July 13, 2026, at the company's request and with the no-objection certificate from its bankers. ICRA has stated that it does not have information to suggest a change in the company's credit risk since the last review. The previous ratings were [ICRA]BB+ with Developing Implications for the long-term facility and [ICRA]A4+ with Developing Implications for the short-term facility.
The company's financial indicators for FY2026 show operating income of ₹1,124.1 crore, PAT of ₹10.5 crore, and a declining OPBDITA/OI margin of 1.5%. The total debt to OPBDITA ratio has increased to 7.6 times, and the interest coverage has decreased to 1.4 times.
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Rama Steel Tubes Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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See the model portfoliosA plain-language summary of a public exchange filing by Rama Steel Tubes Limited. Read the original for the full detail.