Venus Pipes & Tubes Ltd

VENUSPIPES

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Market Cap

₹ 2,553 Cr

P/E

27.59

Turned 1 L into 3.45 L in last 5 Years

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Performance

STEADY PERFORMER

Valuation

REASONABLE

Growth

EXCEPTIONAL

Profitability

HIGH MARGIN

Technicals

Bearish

Risk

MODERATE RISK

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Price

PE Ratio

Price

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Overview

Detailed Summary

Venus Pipes & Tubes Limited is a leading manufacturer and exporter of stainless-steel welded and seamless pipes based in Gujarat, India. The company recorded an all-time high quarterly revenue of INR 291.5 crore in Q2 FY26, representing a 27% year-on-year growth, driven by strong demand and export growth.

Venus Pipes & Tubes has expanded its seamless pipes and tubes capacity to 16,200 MTPA. A significant portion of revenue growth stems from exports, which now constitute 40% of the company’s total revenues.

The company’s operational highlights include a remarkable 53% year-on-year increase in export revenues for the quarter, indicating its strengthening international market footprint.

Strategically located near major ports, Venus Pipes & Tubes is well-positioned for efficient distribution and export operations, supported by a robust order book that ensures revenue visibility in the coming quarters.

Sector

Steel

Industry

Steel - Tubes / Pipes

Market Cap

2,553 Cr

Volatility

High Risk

P/E Ratio

27.6

Industry P/E

25.4

PEG Ratio

0.9

P/B Ratio

4.1

52W High

1,682.95

52W Low

968.80

Sales CAGR

19.49%

35.31%

—

10Y

—

Profit CAGR

8.04%

43.15%

—

10Y

—

ROE

TTM

15.21%

17.71%

19.49%

10Y

—

ROCE

TTM

18.80%

26.76%

28.80%

10Y

—

Technicals

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Forecasts

No. of Analysts

11

1Y Price Target

1962.65 ▲ 61.55%

Q3 EPS Estimate

Q3 Revenue Estimate

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Price, EPS and Revenue Projections

Strong SellSellHoldBuyStrong Buy

Buy

Strong Buy

Buy

Hold

Sell

Strong Sell

updated on

Dec 03, 2025

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
MANINDS	424.90	3,187 Cr	19.10	1.62	0.00	8.48	13.70	4.12
SAMBHV	94.25	2,785 Cr	30.39	2.85	0.00	9.37	15.26	6.02
VENUSPIPES	1226.00	2,553 Cr	27.59	4.06	0.08	15.21	18.80	7.87
JTLIND	61.15	2,321 Cr	29.21	1.85	0.21	6.34	8.12	5.23
HITECH	93.75	1,909 Cr	24.48	1.47	0.03	6.00	8.87	4.09
RAMASTEEL	10.01	1,638 Cr	83.42	3.51	0.00	4.09	6.26	2.16
DEEDEV	225.00	1,544 Cr	31.38	1.85	0.00	5.88	7.72	2.68

Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	180	191	207	224	240	229	231	258	276	292
Expenses	152	157	168	179	192	188	194	217	232	244
Operating Profit	28	35	39	45	48	41	37	42	45	48
OPM %	15.35	18.13	18.85	20.09	19.96	17.89	16.04	16.12	16.21	16.30
Other Income	0.56	0.48	2.00	0.14	1.02	3.65	0.97	5.02	3.92	2.97
Interest	3.31	5.05	6.20	7.53	7.65	8.18	9.11	9.42	9.79	10
Depreciation	1.39	2.87	3.68	3.83	4.34	4.64	4.76	4.79	5.22	5.96
Profit Before Tax	23	27	31	34	37	32	24	32	34	34
Tax %	25.69	25.65	25.32	25.94	25.45	25.57	25.74	26.87	26.55	24.20
Net Profit	17	20	23	25	28	24	18	24	25	26
EPS in Rs	8.50	9.88	11.36	12.22	13.38	11.47	8.75	11.58	12.01	12.74

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	309	387	552	802	959	995
Expenses	275	338	483	656	791	830
Operating Profit	35	49	69	146	168	164
OPM %	11.24	12.72	12.51	18.24	17.49	16.53
Other Income	2.70	2.12	2.40	3.18	11	14
Interest	5.56	7.06	9.84	22	34	37
Depreciation	0.97	1.43	1.97	12	19	19
Profit Before Tax	31	43	60	116	125	122
Tax %	23.65	26.14	25.93	25.65	25.91	26.21
Net Profit	24	32	44	86	93	90
EPS in Rs	—	24.52	22.39	41.96	45.18	45.07
Dividend Payout %	0.00	0.00	2.21	1.18	2.19	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	8.73	15	20	20	20
Reserves	31	113	302	386	511
Borrowings	38	64	90	149	192
Other Liabilities	60	55	95	202	285
Total Liabilities	138	248	507	758	1,008
Fixed Assets	20	21	60	282	310
CWIP	0.00	7.35	122	12	67
Investments	0.00	1.39	2.89	3.12	3.35
Other Assets	118	218	323	461	629
Total Assets	138	248	507	758	1,008

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-6.66	2.41	11	-60	8.69	52	69
Cash from Investing Activity	-1.39	-12	-2.42	-23	-167	-100	-114
Cash from Financing Activity	7.72	10	-9.19	83	169	38	47
Net Cash Flow	-0.33	0.07	-0.28	-0.06	11	-9.72	1.89

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	48.20%	48.20%	48.20%	48.63%	48.68%	48.68%	48.68%	47.94%	48.12%	48.12%	48.12%	48.44%
FIIs	5.80%	5.76%	6.49%	6.60%	4.81%	4.27%	5.10%	5.25%	4.30%	5.81%	4.93%	4.25%
DIIs	8.63%	8.65%	8.73%	7.24%	8.25%	13.02%	13.19%	14.15%	14.06%	14.52%	14.96%	15.14%
Public	37.37%	37.39%	36.58%	37.53%	38.26%	34.04%	33.03%	32.66%	33.51%	31.55%	31.99%	32.18%
Total Shareholders	22,255	22,260	26,210	38,977	45,875	47,062	57,273	50,831	58,065	58,842	58,344	60,837

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Jan 30, 2024	Kacholia ashish	Bulk	Sell	1,511.68	15.57 Cr	1,03,000	0.50
Nov 06, 2023	Arun axaykumar kothari	Insider - Promoter & Director	Acquisition	1,412.50	0.71 Cr	5,000	0.02
Nov 06, 2023	Dhruv mahendrakumar patel	Insider - Promoter & Director	Acquisition	1,418.90	0.71 Cr	5,000	0.02
Oct 10, 2023	Bnp paribas arbitrage	Bulk	Sell	1,234.21	34.06 Cr	2,75,946	1.35
Oct 05, 2023	Neuberger berman equity funds...	Bulk	Buy	1,209.92	17.43 Cr	1,44,020	0.70
Sep 26, 2023	Jayantiram motiram choudhary	Insider - Promoter & Director	Acquisition	1,275.93	0.66 Cr	5,200	0.02
Sep 26, 2023	Megharam sagramji choudhary	Insider - Promoter & Director	Acquisition	1,284.14	1.99 Cr	15,500	0.07
Sep 23, 2023	Arun axaykumar kothari	Insider - Promoter & Director	Acquisition	1,498.60	1.31 Cr	8,750	0.04
Sep 21, 2023	Payal arunbhai kothari	Insider - Promoter Group	Acquisition	1,510.00	1.84 Cr	12,200	0.06
Sep 21, 2023	Arun axaykumar kothari	Insider - Promoter & Director	Acquisition	1,507.69	5.64 Cr	37,424	0.18

Projection

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Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

Investor Presentation

Q4 FY25

Investor Presentation

Q3 FY25

Investor Presentation

Q2 FY25

Investor Presentation

Q1 FY25

Investor Presentation

Q4 FY24

Investor Presentation

Q3 FY24

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Oscillators

BearishNeutralBullish

Neutral

Bearish

Steel - Tubes / Pipes

Market Cap

2,553 Cr

Volatility

High Risk

P/E Ratio

27.6

Industry P/E

25.4

PEG Ratio

0.9

P/B Ratio

4.1

52W High

1,682.95

52W Low

968.80

Sales CAGR

19.49%

35.31%

—

10Y

—

Profit CAGR

8.04%

43.15%

—

10Y

—

ROE

TTM

15.21%

17.71%

19.49%

10Y

—

ROCE

TTM

18.80%

26.76%

28.80%

10Y

—