Venus Pipes & Tubes logo

Venus Pipes & Tubes

VENUSPIPES NSE

Key Fundamentals

MicrocapIron & Steel ProductsIndustrial Products
Market Cap
₹4,031 Cr
Volatility
High Risk
P/E Ratio
40.33
EBITDA
₹202 Cr
Return on Equity
15.25%
Debt to Equity
0.43
Book Value
₹322.69
EPS
₹47.36
52W High
₹1,998
52W Low
₹890

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

1
  • Company has delivered good profit growth of 34.0% CAGR over last 5 years

Growth Rate

Revenue Growth
21.6% lower than 3Y
Net Income Growth
9.8% lower than 3Y
Cash Flow Change
63.73% lower than 3Y
ROE
-12.76% lower than 3Y
ROCE
-18% higher than 3Y
EBITDA Margin (Avg.)
-6.69% higher than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 69d ago
AI opinion · based on fundamentals
Risk medium

Venus Pipes & Tubes Ltd is a Gujarat-based stainless steel pipes and tubes manufacturer with a market cap of ₹3,767 Cr, trading at a PE of 36.3x. The company has delivered 30% sales CAGR and 34% profit CAGR over 5 years, though profit growth has moderated to 10% on a TTM basis while borrowing costs remain elevated with interest expenses rising from ₹22 Cr in FY24 to ₹34 Cr in FY25.

Bull Case 8
  • Strong 5-year compounded sales growth of 30% CAGR, with revenue scaling from ₹387 Cr in FY22 to ₹959 Cr in FY25
  • Robust 5-year profit CAGR of 34%, with net profit rising from ₹32 Cr in FY22 to ₹93 Cr in FY25
  • Capacity expanded 4.1x over 5 years to 38,400 MTPA, with further expansion to 46,800 MTPA underway including new fittings and seamless pipe capacity of 10,200 MTPA commissioned in FY26
  • Consistent ROE averaging 20% over 3 and 5 years, indicating efficient capital deployment
  • Entry into high-value segments like titanium welded tubes, fittings, and pipe spooling diversifies revenue streams and targets industries like semiconductor manufacturing
  • FY26 annual revenue reached ₹1,167 Cr, representing 22% YoY growth and crossing a milestone threshold
  • EPS grew from ₹20.80 in FY22 to ₹49.22 in FY26, a compounded growth of approximately 24% annually
  • Stock has delivered 22% return over 1 year and 15% CAGR over 3 years, broadly tracking earnings growth
Bear Case 8
  • TTM profit growth has decelerated sharply to 10% versus the 5-year CAGR of 34%, signaling margin pressure
  • Interest expenses nearly doubled from ₹22 Cr in FY24 to ₹34 Cr in FY25 and further to ₹41 Cr in FY26, reflecting high cost of borrowing
  • PE of 36.3x is elevated for an industrials company, requiring sustained high growth to justify the valuation
  • Operating profit margin contracted from 18.2% in FY24 to 17.3% in FY25 and further to 16.2% in FY26, a declining trend
  • Price-to-book ratio of 5.53x leaves limited margin of safety if growth disappoints
  • Dividend yield of just 0.03% with payout ratio of only 2%, offering negligible income return to shareholders
  • ROE declined from 20% (3-year average) to 17% in the last year, suggesting diminishing returns as capital base expands with debt-funded capex
  • Heavy capex cycle of ₹175 Cr funded partly through debt and warrants increases balance sheet leverage during a period of rising interest rates

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 69d ago
Positives 1
  • FY26 net profit up 9.8% Jun 22

    Venus Pipes reported FY26 net profit of ₹1,019.62 crore, a 9.8% year-on-year increase. The board recommended a final dividend of ₹0.50 per share.

Neutral 1
  • Promoter holding steady, unencumbered Jun 13

    Promoters held 8.85 million shares in Q4FY26 with no encumbrances reported during FY26, indicating stable insider ownership.

TL;DR: Venus Pipes delivered steady profit growth of 9.8% in FY26 with a modest dividend payout, signaling operational stability. Promoter holding remains unencumbered, reflecting confidence. No visible headwinds emerged in recent news flow. The trend appears stable, though the modest single-digit profit growth suggests room for acceleration going forward.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
180
191
207
224
240
229
231
258
276
292
297
302
321
Expenses
152
157
168
179
192
188
194
217
232
244
248
253
269
Operating Profit
28
35
39
45
48
41
37
42
45
48
49
49
52
OPM %
15%
18%
19%
20%
20%
18%
16%
16%
16%
16%
16%
16%
16%
Other Income
1
0
2
0
1
4
1
5
4
3
2
2
3
Interest
3
5
6
8
8
8
9
9
10
10
10
10
11
Depreciation
1
3
4
4
4
5
5
5
5
6
6
6
7
PBT
23
27
31
34
37
32
24
32
34
34
34
35
36
Tax %
26%
26%
25%
26%
25%
26%
26%
27%
27%
24%
25%
27%
26%
Net Profit
17
20
23
25
28
24
18
24
25
26
26
26
26
EPS in Rs
8.58
9.98
11.47
12.34
13.58
11.62
8.82
11.6
12.08
12.67
12.36
12.31
12.75
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
119
178
309
387
552
802
959
1,167
1,211
Expenses
110
166
275
338
483
656
791
976
1,014
Operating Profit
8
12
35
49
69
146
168
191
197
OPM %
7%
7%
11%
13%
13%
18%
17%
16%
16%
Other Income
2
2
3
2
2
3
11
11
10
Interest
3
5
6
7
10
22
34
41
42
Depreciation
2
2
1
1
2
12
19
24
26
PBT
5
6
31
43
60
116
125
137
139
Tax %
24%
36%
24%
26%
26%
26%
26%
26%
—
Net Profit
4
4
24
32
44
86
93
102
104
EPS in Rs
4.29
4.73
27.06
20.81
21.78
42.36
45.47
49.22
50.09
Div. Payout %
0%
0%
0%
0%
2%
1%
2%
2%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
9
9
9
15
20
20
20
21
Reserves
3
8
31
113
302
386
511
648
Borrowings
29
43
38
64
90
149
192
287
Other Liabilities
38
48
60
55
95
202
285
344
Total Liabilities
79
107
138
248
507
758
1,008
1,300
Fixed Assets
10
12
20
21
60
282
310
399
CWIP
0
3
0
7
122
12
67
124
Investments
0
0
0
1
3
3
3
1
Other Assets
69
92
118
218
323
461
629
776
Total Assets
79
107
138
248
507
758
1,008
1,300
Figures in ₹ Crores

Cash Flow

Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
-7
2
11
-60
9
52
69
112
Investing
-1
-12
-2
-23
-167
-100
-114
-203
Financing
8
10
-9
83
169
38
47
94
Net Cash Flow
0
0
0
0
11
-10
2
3
Free Cash Flow
-9
-5
6
-81
-153
-55
-40
-76
CFO/OP
-65
30
35
-99
40
49
52
76
Figures in ₹ Crores

Ratios

Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
66
63
53
69
47
81
73
81
Inventory Days
130
103
62
108
137
143
196
183
Days Payable
117
96
59
45
61
110
137
141
Cash Conversion Cycle
80
70
56
133
123
114
132
124
Working Capital Days
46
28
40
99
75
62
62
59
ROCE %
—
22%
53%
37%
23%
28%
25%
21%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

FIIs2.63%Promot.48.41%Others6.67%DIIs17.81%Public24.48%As ofJun 2026

Documents

Frequently Asked Questions about Venus Pipes & Tubes

What does Venus Pipes & Tubes Ltd do?
Venus Pipes & Tubes Limited is a manufacturer and exporter of stainless steel pipes and tubes. The company is manufacturing stainless steel tube products in two broad categories - seamless tubes/pipes and welded tubes/pipes under which five categories of products are manufactured namely, stainles...
Where is Venus Pipes & Tubes Ltd (VENUSPIPES) listed?
Venus Pipes & Tubes Ltd trades as VENUSPIPES on the NSE and under code 543528 on the BSE.
Which sector does Venus Pipes & Tubes Ltd belong to?
Venus Pipes & Tubes Ltd is classified under the Industrials sector, in the Industrial Products industry.
What is the market capitalisation of Venus Pipes & Tubes Ltd?
Venus Pipes & Tubes Ltd has a market capitalisation of ₹4,031 Cr, which places it in the Small Cap band.
What is the PE ratio of Venus Pipes & Tubes Ltd?
Venus Pipes & Tubes Ltd trades at a PE ratio of 40.33, on earnings per share of ₹47.36, against a book value of ₹322.69 per share.
What is the 52-week high and low of Venus Pipes & Tubes Ltd?
Over the last 52 weeks Venus Pipes & Tubes Ltd has traded between ₹890 and ₹1,998.
Does Venus Pipes & Tubes Ltd pay dividends?
Venus Pipes & Tubes Ltd has a dividend yield of 0.05%.
What is the Return on Equity (ROE) of Venus Pipes & Tubes Ltd?
Venus Pipes & Tubes Ltd reported a return on equity of 15.25%. Its debt-to-equity ratio is 0.43.

Company Information

Venus Pipes & Tubes Limited is a manufacturer and exporter of stainless steel pipes and tubes. The company is manufacturing stainless steel tube products in two broad categories - seamless tubes/pipes and welded tubes/pipes under which five categories of products are manufactured namely, stainless steel high precision & heat exchanger tubes, stainless steel hydraulic & instrumentation tubes, stainless steel seamless pipes, stainless steel welded pipes and stainless steel box pipes.[1]

Website venuspipes.com
Listed 2022-05-24
Face Value ₹ 10
Issued Size 2,07,16,110

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