Venus Pipes & Tubes Ltd
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]
- Market Cap ₹ 2,786 Cr.
- Current Price ₹ 1,364
- High / Low ₹ 2,450 / 969
- Stock P/E 30.0
- Book Value ₹ 260
- Dividend Yield 0.07 %
- ROCE 25.6 %
- ROE 19.8 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 86.4% CAGR over last 5 years
Cons
- Company's cost of borrowing seems high
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|
119 | 178 | 309 | 387 | 552 | 802 | 959 | |
110 | 166 | 275 | 338 | 483 | 656 | 791 | |
Operating Profit | 8 | 12 | 35 | 49 | 69 | 146 | 168 |
OPM % | 7% | 7% | 11% | 13% | 13% | 18% | 17% |
2 | 2 | 3 | 2 | 2 | 3 | 11 | |
Interest | 3 | 5 | 6 | 7 | 10 | 22 | 34 |
Depreciation | 2 | 2 | 1 | 1 | 2 | 12 | 19 |
Profit before tax | 5 | 6 | 31 | 43 | 60 | 116 | 125 |
Tax % | 24% | 36% | 24% | 26% | 26% | 26% | 26% |
4 | 4 | 24 | 32 | 44 | 86 | 93 | |
EPS in Rs | 4.29 | 4.73 | 27.06 | 20.81 | 21.78 | 42.36 | 45.47 |
Dividend Payout % | 0% | 0% | 0% | 0% | 2% | 1% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 40% |
3 Years: | 35% |
TTM: | 19% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 86% |
3 Years: | 43% |
TTM: | 8% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 59% |
1 Year: | -34% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 24% |
3 Years: | 21% |
Last Year: | 20% |
Balance Sheet
Figures in Rs. Crores
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|
Equity Capital | 9 | 9 | 9 | 15 | 20 | 20 | 20 |
Reserves | 3 | 8 | 31 | 113 | 302 | 386 | 511 |
29 | 43 | 38 | 64 | 90 | 149 | 164 | |
38 | 48 | 60 | 55 | 95 | 202 | 313 | |
Total Liabilities | 79 | 107 | 138 | 248 | 507 | 758 | 1,008 |
10 | 12 | 20 | 21 | 60 | 282 | 310 | |
CWIP | 0 | 3 | 0 | 7 | 122 | 12 | 67 |
Investments | 0 | 0 | 0 | 1 | 3 | 3 | 3 |
69 | 92 | 118 | 218 | 323 | 461 | 629 | |
Total Assets | 79 | 107 | 138 | 248 | 507 | 758 | 1,008 |
Cash Flows
Figures in Rs. Crores
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|
-7 | 2 | 11 | -60 | 9 | 52 | 69 | |
-1 | -12 | -2 | -23 | -167 | -100 | -114 | |
8 | 10 | -9 | 83 | 169 | 38 | 47 | |
Net Cash Flow | -0 | 0 | -0 | -0 | 11 | -10 | 2 |
Ratios
Figures in Rs. Crores
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|
Debtor Days | 66 | 63 | 53 | 69 | 47 | 81 | 73 |
Inventory Days | 130 | 103 | 62 | 108 | 137 | 143 | 196 |
Days Payable | 117 | 96 | 59 | 45 | 61 | 110 | 137 |
Cash Conversion Cycle | 80 | 70 | 56 | 133 | 123 | 114 | 132 |
Working Capital Days | 92 | 69 | 63 | 146 | 118 | 114 | 125 |
ROCE % | 22% | 53% | 37% | 23% | 28% | 26% |
Documents
Announcements
- Closure of Trading Window 26 Jun
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Announcement under Regulation 30 (LODR)-Credit Rating
23 Jun - CRISIL upgrades Venus Pipes credit ratings; bank loan facilities increased to Rs.479 Cr from Rs.363 Cr.
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Announcement under Regulation 30 (LODR)-Allotment
19 Jun - Conversion of 61,000 warrants into equity shares; Rs.7.78 crore received; paid-up capital increased to Rs.20.49 crore.
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Announcement under Regulation 30 (LODR)-Conversion of Securities
19 Jun - Allotment of 60,000 equity shares at Rs.1700 each on warrant conversion, raising Rs.7.78 crore.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
31 May - INR190 Cr order for boiler tubes; value-added welded tubes started; FY25 revenue INR958.5 Cr; strong export growth.
Annual reports
Concalls
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May 2025Transcript PPT REC
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Feb 2025Transcript PPT REC
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Nov 2024Transcript PPT REC
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Aug 2024Transcript PPT
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May 2024Transcript PPT REC
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Mar 2024Transcript PPT
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Feb 2024Transcript PPT REC
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Dec 2023TranscriptNotesPPT
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Nov 2023Transcript PPT
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Aug 2023Transcript PPT
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May 2023Transcript PPT
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Jan 2023TranscriptNotesPPT
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Nov 2022Transcript PPT
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Aug 2022Transcript PPT
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Jul 2022TranscriptNotesPPT
Business Profile[1][2]
Venus Pipes & Tubes Limited is a leading manufacturer and exporter of stainless steel pipes and tubes in India. The company serves over 70 Fortune 500 companies and exports to more than 25 countries, with applications spanning multiple industries, including oil & gas, power, pharmaceuticals, etc.