AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s 16 Sep - M/s. GMCA & Co. reappointed as statutory auditors for 5 years from 42nd AGM on September 16, 2026.
Source: Bse
Rhetan TMT Limited (RHETAN)
Small CapMetals stocks · Small cap · NSE
Rhetan TMT Limited operates in TMT Bars, within the Metals sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 21 Oct, 02:00 pm ISTDetails
Quote21 Oct, 02:00 pm IST
Base fundamentals04 Oct 2026 · screener
Latest result12 Aug, 06:02 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags03 May 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Metals P/E 23.2 (n=92)
Technical timing lens
Trend score and candlestick chart
32Bearishfull bear SMA stack · SMA20 -25.5% / mo · MACD + · near 52W low
Stock trend: 24
Sector RS: 44
Sector 3M: -6.0% vs Nifty 500 -6.1%
Metals FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
RHETAND candles · FIT view-49.3%TODAY · PROVISIONALLatest price ₹14.97 on 2026-10-21
Today's candle is provisional from the latest intraday quote; completed-candle scans remain unchanged.
Bar
-3.7%
RSI
36
MACD hist
0.10
52W pos
3%
2026-10-21O ₹15.55H ₹15.74L ₹14.97C ₹14.97Vol 16.9L shIntraday candle
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
RHETANNifty MetalNifty 500
- RHETAN
- -44.7%
- Nifty 500
- -5.6%
- Nifty Metal
- -3.8%
- Vs Nifty 500
- -39.1 pp
Chart stats
19 Oct 2026- From 52W high
- -54.8%
- 52W range position
- 7%
- ATR (14)
- 6.8%
- Volume vs 20D
- 0.36x
- Avg traded value
- ₹17.7 Cr
- 20D price channel
- ₹14.4 - ₹18.8
₹34.9
₹14.4 - ₹34.9
₹1.1
Latest completed session
20-session average
78.2% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is weak.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · WATCHLIST34
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad17
Revenue -19.4% · PAT +315.8% YoY
Technical
Bearish32
Price trend and sector-relative-strength timing.
Valuation
Legacy model-153.1%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence70
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Bad · 17/100Rev -19% YoY · margin compression · PAT +316% YoY · operating leverage
Filed 12 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹4.1 Cr | -19.4% | -52.2% |
| EBITDA | ₹-0.7 Cr | -208.2% | -126.0% |
| Operating margin | -16.3% | -2836 bps | -4618 bps |
| PAT | ₹3.2 Cr | +315.8% | +42.3% |
| PAT margin | 77.8% | +6275 bps | +5168 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 104.00
- P/B
- 12.21
- EV/EBITDA
- 228.00
- Market Cap
- 1326.00Cr
Profitability
- ROE
- 10.20%
- ROCE
- 11.00%
- ROA
- 7.88%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- -14.00%
- EPS 5Y
- 140.00%
- Revenue 3Y
- -34.00%
- EPS 3Y
- 24.00%
Balance Sheet
- Debt/Equity
- 0.39
- Interest Coverage
- 5.00×
- Altman Z
- 6.72
- Book Value
- 1.36
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 2/5
- OCF
- 1.00 Cr
- EPS TTM
- 0.17
Shareholding
- Promoter Hold
- 62.11%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 11%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 24.0-35.1% vs prev
Net Profit
₹ CrLatest: 10.0+233.3% vs prev
Return on Equity
%Latest: 9.2+187.5% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 36.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~33.9% over last month) — short-term momentum negative.
- RSI(14) at 36 — falling, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- Within 5% of 52-week low — testing support.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
9
RS percentile
Stage 4 Downtrend
1M return
-19.5%
3M return
-44.7%
6M return
-40.2%
1Y return
-28.8%
RS 1D
-3
RS 20D
-16
Sector rank
#4
Industry rank
#50
Stage evidence
- Price is 38.1% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -4.3%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
leading
Industry
improving
Relative-strength line vs Nifty 500 (base 100)
261 observations
19 Oct 2026Value 75.93-3.96%
RS vs Nifty 50076
Valuation & peers
U-Score 34 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 34 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
WATCHLIST
Fundamental score breakdown
U band · WATCHLISTValuation0/30
Growth13/25
Quality4/20
Balance Sheet9/15
Cash Flow2/10
Piotroski
7/9 (+5)
Penalties
1
Raw sum
34
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
34/100 · legacy band WATCHLIST
Positive drivers
- Piotroski is strong at 7/9.
- Balance sheet contributes 9/15 to the score.
- Growth contributes 13/25 to the score.
Main drags
- Fair-value margin of safety is negative at -153.1%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Quality is weaker at 4/20; verify the latest quarterly trend.
Sector valuation model
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Primary lens
Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.
Secondary checks
Current margin versus 5-year average, balance sheet strength, commodity cycle.
Main risk check
A low trailing PE may mean peak-cycle earnings, not true cheapness.
PE
104.0
PB
12.2
EV/EBITDA
228.0
ROE
10.2%
ROCE
11.0%
FCF Yield
—
Debt/Equity
0.4
MoS
-153.1%
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE.
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
34
Previous: 34
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
-153.1%
Previous: -166.2%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
34
34
34
34
34
34
34
34
34
34
34
34
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹2.28
-556.4% MoS
Growth-justified P/E
34.8
Growth-justified Value
₹5.92
-153.1% MoS
PEG
1.11
Comparable companies
Peers
Business-comparable peers in Metals — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
VMSTMT
Small
VMS TMT Limited
Steel
match 84
58
12.8
14.0%
+62%
FAIR VALUE
KAMDHENU
Small
Kamdhenu Limited
Steel
match 64
36
34.0
14.7%
-9%
WATCHLIST
BHARATWIRE
Small
Bharat Wire Ropes Limited
Steel
match 62
68
11.6
42.2%
+67%
UNDERVALUED
BEEKAY
Small
Beekay Steel Industries Limited
Steel
match 61
39
17.9
1.4%
-1035%
WATCHLIST
BAJAJST
Small
Bajaj Steel Industries Limited
Steel
match 61
31
23.5
9.1%
-493%
OVERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
Rhetan TMT Limited operates in TMT Bars, within the Metals sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
70Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 63rd percentile of the scored universe and 52nd percentile within Metals. Main check: results consistency is weak at 53/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
3 docs text-extracted · 0 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
63rd percentile
overall median 67 · Metals: 52nd pctile, median 70 · Small: 65th pctile, median 66
Evidence depth
Financial-only
3 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
55
watch · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
68
acceptable · capital discipline
Results
53
watch · quarterly consistency
Trust positives
- ▸Promoter holding is 62.1%.
- ▸Promoter pledge is zero.
- ▸4/4 latest quarters had positive YoY PAT growth.
- ▸Latest 3 quarters had positive YoY PAT growth.
Trust risks
- ▸1/4 latest quarters had positive YoY revenue growth.
- ▸OPM spread across recent quarters is 109.8%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Rhetan TMT Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Annual reportSep 2026
Sep 2026 · Letter To Shareholders Under Regulation 36(1)(B) Of SEBI (LODR) Regulations, 2015. 25 Aug - 42nd AGM on September 16, 2026; annual report dispatched, e-voting September 13-15, 2026.
Source: Bse
Announcement
Announcement Under Reg 30 (LODR)-General Update On Receiving Confirmation On Procurement Of TMT Bars From The Company 25 Sep - Rhetan TMT signs MOU with Bajaj Tubular for 20,000 MT TMT bars over 24 months; potential Rs 250-300 crore.
Source: Bse
Announcement
Announcement Under Reg 30 (LODR)-Exploring Entry Into The Corrosion Resistant Steel (CRS) TMT Bars Market 5 Sep - Rhetan TMT explores CRS TMT bars entry after BIS licences for Fe500D, FeSSO and Fe550D.
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Change in Management 16 Sep - Shareholders approved Mrs. Jhanvi Vikas Sethi as independent director for five years from August 12, 2026.
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement Under Reg 30_Captive Solar Power Project Update_19.08.2026 19 Aug - 1 MW captive solar project began power generation on August 19, 2026 at Kadi, Gujarat.
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Change in Registered Office Address 12 Aug - Board approved shifting registered office within Ahmedabad on August 12, 2026; contact number also changed.
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Change in Management 12 Aug - Mrs. Jhanvi Vikas Sethi appointed Additional Independent Director for up to 5 years from August 12, 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 25 Aug - Announcement under Regulation 30 (LODR)- Newspaper Publication of 42nd Annual General Meeting for the financial year 2025-26
Source: Bse
Announcement
Announcement Under Regulation 30 (LODR)- General Announcements. 12 Aug - Board approved Kadi plant capacity expansion from 45,000 MT to 75,000 MT per annum.
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Newspaper Publication 13 Aug - Announcement under Regulation 30 (LODR)- Newspaper Publication for the unaudited financial results of the Company for the quarter ended June 30, 2026
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 3 May
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.