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 ₹ 1,468 Cr.
- Current Price ₹ 723
- High / Low ₹ 775 / 316
- Stock P/E 37.8
- Book Value ₹ 147
- Dividend Yield 0.07 %
- ROCE 36.3 %
- ROE 37.6 %
- Face Value ₹ 10.0
Pros
- Company is expected to give good quarter
- Company has a good return on equity (ROE) track record: 3 Years ROE 47.0%
Cons
- Working capital days have increased from 94.1 days to 150 days
* 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.
Peer comparison
Sector: Steel Industry: Steel - Medium / Small
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | TTM | |
---|---|---|---|---|---|
119 | 178 | 309 | 387 | 486 | |
110 | 166 | 275 | 338 | 425 | |
Operating Profit | 8 | 12 | 35 | 49 | 61 |
OPM % | 7% | 7% | 11% | 13% | 13% |
2 | 2 | 3 | 2 | 2 | |
Interest | 3 | 5 | 6 | 7 | 10 |
Depreciation | 2 | 2 | 1 | 1 | 2 |
Profit before tax | 5 | 6 | 31 | 43 | 52 |
Tax % | 24% | 36% | 24% | 26% | |
Net Profit | 4 | 4 | 24 | 32 | 39 |
EPS in Rs | 4.29 | 4.73 | 27.06 | 20.81 | 20.47 |
Dividend Payout % | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 48% |
TTM: | 32% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 104% |
TTM: | 29% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | % |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 47% |
Last Year: | 38% |
Balance Sheet
Figures in Rs. Crores
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Sep 2022 | |
---|---|---|---|---|---|
9 | 9 | 9 | 15 | 20 | |
Reserves | 3 | 8 | 31 | 113 | 278 |
29 | 43 | 38 | 69 | 53 | |
38 | 48 | 60 | 50 | 65 | |
Total Liabilities | 79 | 107 | 138 | 248 | 417 |
10 | 12 | 20 | 21 | 32 | |
CWIP | 0 | 3 | 0 | 7 | 29 |
Investments | 0 | 0 | 0 | 1 | 2 |
69 | 92 | 118 | 218 | 354 | |
Total Assets | 79 | 107 | 138 | 248 | 417 |
Cash Flows
Figures in Rs. Crores
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|
-7 | 2 | 11 | -60 | |
-1 | -12 | -2 | 34 | |
8 | 10 | -9 | 26 | |
Net Cash Flow | -0 | 0 | -0 | -0 |
Ratios
Figures in Rs. Crores
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|
Debtor Days | 66 | 63 | 53 | 69 |
Inventory Days | 130 | 103 | 62 | 108 |
Days Payable | 117 | 96 | 59 | 39 |
Cash Conversion Cycle | 80 | 70 | 56 | 139 |
Working Capital Days | 92 | 69 | 63 | 150 |
ROCE % | 22% | 53% | 36% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
1 Mar - Of Schedule of Analyst / Institutional Investor Meetings under the SEBI (LODR), Regulations 2015
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
8 Feb - Of Schedule of Analyst / Institutional Investor Meetings under the SEBI (LODR), Regulations 2015.
- Announcement under Regulation 30 (LODR)-Earnings Call Transcript 8 Feb
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
2 Feb - Earnings Call with the investors on the Un-Audited Financial Results for the quarter & nine month ended on December 31, 2022
- Submission Of Statement Of Deviation Or Variation In The Use Of Proceeds Of Initial Public Offering Of Venus Pipes & Tubes Limited 1 Feb
Concalls
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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
Product Lines
Venus is currently manufacturing 5 product lines, namely,
• Stainless steel high precision & heat exchanger tubes
• Stainless steel hydraulic & instrumentation tubes
• Stainless steel seamless pipes
• Stainless steel welded pipes
• Stainless steel box pipes [1]