The PE Ratio without NRI, or P/E Ratio without non-recurring items, is a financial ratio used to compare a company's market price to its EPS without NRI. As of today (2026-07-12), Ratnamani Metals & Tubes's share price is ₹2693.80.
Ratnamani Metals & Tubes's EPS without NRI for the trailing twelve months (TTM) ended in Mar. 2026 was ₹69.96. Therefore, Ratnamani Metals & Tubes's PE Ratio without NRI for today is 38.51.
During the past 13 years, Ratnamani Metals & Tubes's highest PE Ratio without NRI was 103.02. The lowest was 12.12. And the median was 34.40.
Ratnamani Metals & Tubes (NSE:RATNAMANI) PE Ratio without NRI Explanation
The PE Ratio can be viewed as the number of years it takes for the company to earn back the price you pay for the stock. For example, if a company earns $2 a share per year, and the stock is traded at $30, the PE Ratio is 15. Therefore it takes 15 years for the company to earn back the $30 you paid for its stock, assuming the earnings stays constant over the next 15 years.
In real business, earnings never stay constant. If a company can grow its earnings, it takes fewer years for the company to earn back the price you pay for the stock. If a company's earnings decline it takes more years. As a shareholder, you want the company to earn back the price you pay as soon as possible. Therefore, lower P/E stocks are more attractive than higher P/E stocks so long as the PE Ratio is positive. Also for stocks with the same PE Ratio, the one with faster growth business is more attractive.
If a company loses money, the PE Ratio becomes meaningless.
To compare stocks with different growth rates, Peter Lynch invented a ratio called PEG Ratio. PEG Ratio is defined as the PE Ratio divided by the growth ratio. He thinks a company with a PE Ratio equal to its growth rate is fairly valued. Still he said he would rather buy a company growing 20% a year with a PE Ratio of 20, instead of a company growing 10% a year with a PE Ratio of 10.
Because the PE Ratio measures how long it takes to earn back the price you pay, the PE Ratio can be applied to the stocks across different industries. That is why it is the one of the most important and widely used indicators for the valuation of stocks.
Investors need to be aware that the PE Ratio can be misleading a lot of times, especially when the underlying business is cyclical and unpredictable. As Peter Lynch pointed out, cyclical businesses have higher profit margins at the peaks of the business cycles. Their earnings are high and PE Ratio s are artificially low. It is usually a bad idea to buy a cyclical business when the PE Ratio is low. A better ratio to identify the time to buy a cyclical businesses is the PS Ratio.
Ratnamani Metals & Tubes PE Ratio without NRI Related Terms
Ratnamani Metals & Tubes PE Ratio without NRI Historical Data
* Premium members only.
The historical data trend for Ratnamani Metals & Tubes's PE Ratio without NRI can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Ratnamani Metals & Tubes PE Ratio without NRI Chart
NSE:RATNAMANI vs NUE, STLD, RS: PE Ratio without NRI Comparison
For the Steel subindustry, Ratnamani Metals & Tubes's PE Ratio without NRI, along with its competitors' market caps and PE Ratio without NRI data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Ratnamani Metals & Tubes PE Ratio without NRI vs Steel Industry
For the Steel industry and Basic Materials sector, Ratnamani Metals & Tubes's PE Ratio without NRI distribution charts can be found below:
* The bar in red indicates where Ratnamani Metals & Tubes's PE Ratio without NRI falls into.
Ratnamani Metals & Tubes PE Ratio without NRI Calculation
The PE Ratio without NRI, or P/E Ratio without non-recurring items, is a financial ratio used to compare a company's market price to its EPS without NRI. Regular PE Ratio can be affected by Non Operating Income such as the sale of part of businesses. This may increase for the current year or quarter dramatically. But it cannot be repeated over and over. Therefore PE Ratio without NRI is a more accurate indication of valuation than regular PE Ratio.
Ratnamani Metals & Tubes's Share Price of today is ₹2693.80.
Ratnamani Metals & Tubes's EPS without NRI for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was ₹69.96.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
There are at least three kinds of PE Ratios used by different investors. They are Trailing Twelve Month PE Ratio, Forward PE Ratio, or PE Ratio without NRI. A new PE Ratio based on inflation-adjusted normalized PE Ratio is called Shiller PE Ratio, after Yale professor Robert Shiller.
In the case of PE Ratio without NRI, the reported earnings less the non-recurring items are used.
In the calculation of PE Ratio (TTM), the earnings per share used are the earnings per share over the past 12 months.
For Forward PE Ratio, the earnings are the expected earnings for the next twelve months.
For Shiller PE Ratio, the earnings of the past 10 years are inflation-adjusted and averaged. Since it looks at the average over the last 10 years, Shiller PE Ratio is also called PE10.
Ratnamani Metals & Tubes (NSE:RATNAMANI) has a PE Ratio without NRI of 38.51 as of Jul. 12, 2026. P/E without nonrecurring items is the ratio of share price to a company's earnings less one-time charges. View historical data on Ratnamani Metals & Tubes and its competitors. This is 12% above median its historical median of 34.40. Over the past decade, Ratnamani Metals & Tubes' PE Ratio without NRI has ranged from 12.12 to 103.02. According to the industry distribution chart, Ratnamani Metals & Tubes ranks #338 out of 429 companies in the Steel industry, placing it in the top 78.8%.
Is Ratnamani Metals & Tubes' PE Ratio without NRI too high?
Ratnamani Metals & Tubes' current PE Ratio without NRI of 38.51 is 12% above median its 10-year median of 34.40. Over the past 10 years, this metric has ranged from a low of 12.12 to a high of 103.02. The Steel industry median PE Ratio without NRI is 16.75. Ratnamani Metals & Tubes' value of 38.51 is 129.9% above this industry median. Based on the distribution chart, Ratnamani Metals & Tubes ranks #338 out of 429 companies in the Steel industry, which is in the bottom quartile relative to peers. Overall, Ratnamani Metals & Tubes has a GF Score™ of 97/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Ratnamani Metals & Tubes' PE Ratio without NRI compare to NUE and STLD?
According to the Steel industry distribution chart, Ratnamani Metals & Tubes ranks #338 out of 429 companies for PE Ratio without NRI. This places Ratnamani Metals & Tubes in the lower half of its industry. The industry median PE Ratio without NRI is 16.75. Ratnamani Metals & Tubes' value of 38.51 is 129.9% above this benchmark. Historically, Ratnamani Metals & Tubes' own PE Ratio without NRI has ranged from 12.12 to 103.02 over the past decade. While the company's 10-year median is 34.40 vs. the industry median of 16.75, Ratnamani Metals & Tubes has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PE Ratio without NRI for a Steel company?
The median PE Ratio without NRI among Steel companies is 16.75, based on 429 companies in the industry. Companies in the top quartile (top 25%) have a PE Ratio without NRI significantly above this median, while those in the bottom quartile fall well below. However, PE Ratio without NRI should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Ratnamani Metals & Tubes's current PE Ratio without NRI of 38.51 is 129.9% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PE Ratio without NRI mean?
A high PE Ratio without NRI can signal that a stock is expensive relative to its fundamentals. P/E without nonrecurring items is the ratio of share price to a company's earnings less one-time charges. View historical data on Ratnamani Metals & Tubes and its competitors. For the Steel industry, the median PE Ratio without NRI is 16.75 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ratnamani Metals & Tubes's current PE Ratio without NRI is 38.51, which is 12% above median its own 10-year median of 34.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ratnamani Metals & Tubes stock overvalued right now?
Based on GuruFocus' analysis, Ratnamani Metals & Tubes (NSE:RATNAMANI) is currently considered Fairly Valued. The stock's GF Value™ is ₹2,653.64, compared to a current price of ₹2,693.80 — trading 1.5% above its estimated fair value. The current PE Ratio without NRI is 38.51, which is 12% above median its 10-year median of 34.40 and 129.9% above the Steel industry median of 16.75. Ratnamani Metals & Tubes' overall GF Score™ is 97/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PE Ratio without NRI calculated?
PE Ratio without NRI is calculated from a company's financial statements. For Ratnamani Metals & Tubes (NSE:RATNAMANI), the current PE Ratio without NRI is 38.51 as of Jul. 12, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Ratnamani Metals & Tubes (NSE:RATNAMANI) Overvalued in 2026?
Based on GuruFocus' analysis, Ratnamani Metals & Tubes stock appears to be overvalued.
The current stock price of ₹2,693.80 is trading 1.5% above its estimated GF Value™ of ₹2,653.64.
GuruFocus considers Ratnamani Metals & Tubes to be Fairly Valued.
Key valuation signals for NSE:RATNAMANI:
PE Ratio without NRI: 38.51 (12% above median its 10-year median of 34.40)
GF Value™: ₹2,653.64 vs. price of ₹2,693.80 (1.5% above fair value)
Industry Position: 129.9% above the Steel median (#338 of 429)
No single metric tells the full story. See the NSE:RATNAMANI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
AddressThe First Avenue Road, Off 132 Ft Ring Road, The First, A & B Wing, 9th Floor, Behind Keshav Baug Party Plot, Vastrapur, Ahmedabad, GJ, IND, 380015
Ratnamani Metals & Tubes Ltd is a manufacturer of stainless steel pipes, tubes, and carbon steel pipes. The company's product mix consists of stainless steel tubes and pipes, carbon steel pipes, and external and internal coating solutions. It operates in the Steel Tubes and Pipes segment. The company's end market by revenue is India. The firm's manufacturing facilities are located in Kutch, Indrad, and Chhatral in the state of Gujarat.
97GF Score
Get the complete analysis for NSE:RATNAMANI
PE Ratio without NRI is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NSE:RATNAMANI has been successfully added to your 
