Reading the AR for FY14-15, few questions that came to my mind:
- A quick google search revealed a lot of stainless steel manufacturers in India (e.g. Apex, Suraj, Aakar, SLS, JNB).
As per SIMDEX (http://www.simdex.com/resources/tube-manufacturers-map/), there are 31 SS manufacturers and 63 CS manufacturers in India alone. The graph also gives good idea about global manufacturers.
So what is it that Ratnamani is doing so well in this crowded space? - How are the steel biggies and steel tube companies related? e.g. Does TATAs and Mittals of the world provided steel sheets to Ratnamani and then they create pipes/tubes?
- What are the various steel tube/pipe products? Are all of them easy to make or some of them are very difficult to make?
I have no experience in steel industry at all. Fellow investors who understand steel industry, kindly help. I will try to pursue these questions as well.
Thanks,
Rupesh
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