Rhetan TMT Limited
RHETAN.BO
Bombay Stock Exchange26.68
INR
-0.61
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Rhetan TMT Limited
RHETAN.BO
(Bombay Stock Exchange)
Recent
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26.68
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ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Rhetan TMT Limited is an India-based steel manufacturing company primarily engaged in the production of thermo mechanically treated (TMT) bars and round bars. Its core products include high-strength TMT bars, which are manufactured using quenching and tempering technology to ensure superior strength, ductility, weldability, and earthquake resistance, making them suitable for use in residential buildings, multistoried high-rise structures, bridges, flyovers, and other civil engineering projects. The company also produces mild steel round bars used across engineering components, forging industries, foundation bolts, and shafting in various diameters. Founded in 1984 and headquartered in Ahmedabad, Gujarat, Rhetan TMT Limited operates mainly from its manufacturing facility located in Mehsana, Gujarat. The company has undergone several name changes and organizational restructuring since its incorporation, becoming a public limited entity and adopting its present name in early 2022. Rhetan TMT Limited functions within the steel industry, focusing entirely on the production of TMT bars as its main business segment. In terms of recent developments, the company has pursued strategic growth opportunities, including exploring strategic acquisitions to strengthen its position in the steel sector, entering non-committal agreements to conduct due diligence on target companies as of 2024. It has also approved a 2 MW solar power project as a part of its sustainability initiatives. The company completed a fresh equity issuance through an initial public offering in 2022 to fund expansion and modernization projects, particularly at its Mehsana plant, alongside working capital and corporate purposes. These actions underscore Rhetan TMT’s focus on expanding production capacity and enhancing operational sustainability within its core business domain. Overall, Rhetan TMT Limited delivers a specialized product range of TMT and round bars through advanced manufacturing technologies with a strong emphasis on quality and compliance with ISI standards, serving the construction and engineering sectors across India from its Gujarat base. Recent strategic moves toward acquisitions and renewable energy integration mark significant steps in its business expansion and sustainability efforts.