Venus Pipes & Tubes Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹3,745 Cr
- P/E
- 36.03
- ROE
- 17.04%
- PEG
- 1.11
- Price to sales
- 3.08
- Debt to equity
- 0.43
- 52W high / low
- ₹2,283 / ₹894
- Sales growth (5Y)
- 30.41%
- EBITDA margin
- 16.29%
- Net profit margin
- 8.76%
- Promoter holding
- 48.41%
- Sales (last year)
- ₹1,211 Cr
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]
Guidance scorecard · Q1 FY27 call
What Venus Pipes & Tubes Ltd's management guided
and where it ranks in Industrial Products
Industrial Products
RevenueQ1 FY27 call
20–40%- Venus Pipes targets around 20% revenue growth for FY27 and aims to maintain a similar growth rate in the coming years.
- The company expects to double its revenues by FY29 or FY30, implying a CAGR of approximately 20-23%.
- Volume growth is projected above 15% for FY27, considering all segments (Seamless, Welded, Fittings, and Spooling).
- Utilization levels are currently around 90% for Seamless and 60% for Welded, with capacity ramp-ups expected to drive further growth.
- Incremental capacity expansions, especially in Seamless pipes and new segments like fittings and spooling, are expected to support top-line growth.
- Growth is supported by demand from emerging sectors such as data centers, solar, power, semiconductor, and CNG infrastructure.
2 more points from Venus Pipes & Tubes Ltd's call on revenue
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MarginsQ1 FY27 call
Up 2%+See what Venus Pipes & Tubes Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Venus Pipes and Tubes Limited is undertaking a capex of approximately INR 70 crores for a spooling facility, expected to commercialize by Q3 FY27.
- Additional capex of around INR 15 crores is allocated for maintenance and solar plant-related investments.
- Total capex for the year is targeted at around INR 100-110 crores.
- The spooling facility is projected to contribute more than 3x asset turns and is expected to generate about 5% of total revenue in FY27 and 8%-10% in FY28.
2 more points from Venus Pipes & Tubes Ltd's call on capex
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FundraisingQ1 FY27 call
See what Venus Pipes & Tubes Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- Current order book stands at approximately INR 600 crores, up from around INR 450 crores last quarter.
- Incremental order inflows of about INR 150 crores predominantly from power, engineering, chemical, and oil & gas sectors.
- The order book includes both domestic and export orders, with export constituting over 40-45% of current orders.
- Additional Letter of Intent (LOI) for spooling project worth INR 185 crores, contributing to an overall pipeline nearing INR 800 crores.
2 more points from Venus Pipes & Tubes Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Industrial Products
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Industrial Products companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹532 Cr | 21.2 | |
| 2 | 40%+ | Up 2%+ | ₹450 Cr | 13.2 | |
| 3 | 40%+ | Up 2%+ | ₹371 Cr | 26.1 | |
| 4 | 40%+ | Up 0–2% | ₹1,340 Cr | 32.9 | |
| 5 | 40%+ | Up 0–2% | ₹1,196 Cr | 14.1 | |
| 6 | 40%+ | Flat | ₹966 Cr | 25.0 |
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Pro shows every company guiding 40%+ revenue growth →Full Industrial Products rankingVenus Pipes & Tubes Ltd announcements
All announcements →- Capex / expansionNotableVenus Pipes & Tubes Limited begins commercial production of pipe spooling on Oct 20, 2026
Financials of Venus Pipes & Tubes Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Venus Pipes & Tubes Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 176 | 180 | 191 | 207 | 224 | 240 | 229 | 231 | 258 | 276 | 292 | 297 | 302 |
| Expenses + | 155 | 152 | 157 | 168 | 179 | 192 | 188 | 194 | 217 | 232 | 244 | 248 | 253 |
| Operating Profit | 22 | 28 | 35 | 39 | 45 | 48 | 41 | 37 | 42 | 45 | 48 | 49 | 49 |
| OPM % | 12% | 15% | 18% | 19% | 20% | 20% | 18% | 16% | 16% | 16% | 16% | 16% | 16% |
| Other Income + | 1 | 1 | 0 | 2 | 0 | 1 | 4 | 1 | 5 | 4 | 3 | 2 | 2 |
| Interest | 3 | 3 | 5 | 6 | 8 | 8 | 8 | 9 | 9 | 10 | 10 | 10 | 10 |
| Depreciation | 1 | 1 | 3 | 4 | 4 | 4 | 5 | 5 | 5 | 5 | 6 | 6 | 6 |
| Profit before tax | 19 | 23 | 27 | 31 | 34 | 37 | 32 | 24 | 32 | 34 | 34 | 34 | 35 |
| Tax % | 27% | 26% | 26% | 25% | 26% | 25% | 26% | 26% | 27% | 27% | 24% | 25% | 27% |
| Net Profit + | 13 | 17 | 20 | 23 | 25 | 28 | 24 | 18 | 24 | 25 | 26 | 26 | 26 |
| EPS in Rs | 6.62 | 8.58 | 9.98 | 11.47 | 12.34 | 13.58 | 11.62 | 8.82 | 11.60 | 12.08 | 12.67 | 12.36 | 12.31 |
Financials of Venus Pipes & Tubes Ltd
Profit & Loss
Annual income statement trend
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Sales + | 119 | 178 | 309 | 387 | 552 | 802 | 959 | 1,167 |
| Expenses + | 110 | 166 | 275 | 338 | 483 | 656 | 791 | 976 |
| Operating Profit | 8 | 12 | 35 | 49 | 69 | 146 | 168 | 191 |
| OPM % | 7% | 7% | 11% | 13% | 13% | 18% | 17% | 16% |
| Other Income + | 2 | 2 | 3 | 2 | 2 | 3 | 11 | 11 |
| Interest | 3 | 5 | 6 | 7 | 10 | 22 | 34 | 41 |
| Depreciation | 2 | 2 | 1 | 1 | 2 | 12 | 19 | 24 |
| Profit before tax | 5 | 6 | 31 | 43 | 60 | 116 | 125 | 137 |
| Tax % | 24% | 36% | 24% | 26% | 26% | 26% | 26% | 26% |
| Net Profit + | 4 | 4 | 24 | 32 | 44 | 86 | 93 | 102 |
| EPS in Rs | 4.29 | 4.73 | 27.06 | 20.81 | 21.78 | 42.36 | 45.47 | 49.22 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 2% | 1% | 2% | 0% |
Financials of Venus Pipes & Tubes Ltd
Balance Sheet
Capital structure and asset base
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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 | 197 |
| Other Liabilities + | 38 | 48 | 60 | 55 | 95 | 202 | 285 | 435 |
| 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 |
Financials of Venus Pipes & Tubes Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | -7 | 2 | 11 | -60 | 9 | 52 | 69 | 112 |
| Cash from Investing Activity + | -1 | -12 | -2 | -23 | -167 | -100 | -114 | -203 |
| Cash from Financing Activity + | 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% |
Financials of Venus Pipes & Tubes Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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 | 60 |
| ROCE % | 22% | 53% | 37% | 23% | 28% | 25% | 22% |
Guidance history
How Venus Pipes & Tubes Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 20–40% | Up 2%+ | Planned | — | Rising |
| Q4 FY26 call → | 20–40% | Up 0–2% | Planned | — | Flat |
| Q3 FY26 call → | 20–40% | Up 2%+ | Planned | — | Rising |
| Q2 FY26 call → | 20–40% | Up 0–2% | Planned | — | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
41 out of 100 — Steady
Over the past year its share price has moved roughly in the middle of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +39.8% | 82% |
| Last 6 months | +31.2% | 82% |
| Last 3 months | +8.5% | 80% |
The price is 25.6% below its all-time high of ₹2,430.75 (30 Aug 2024). Stocks more than 20% below their peak have their score halved, so 82 became 41.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Venus Pipes & Tubes Ltd: 0.4 × 82 + 0.4 × 82 + 0.2 × 80 = 82, halved to 41 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Venus Pipes & Tubes Ltd's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q4 FY25 earnings call analysis →
- Q3 FY25 earnings call analysis →
- Q1 FY26 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
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