Venus Pipes & Tubes Limited (VENUSPIPES)

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Venus Pipes & Tubes Limited (VENUSPIPES) · mywealthgrid

About

Venus Pipes & Tubes Limited manufactures iron and steel pipes and tubes within the Industrials sector. With a market cap of ₹3,265 crore and quarterly revenues of ₹290–320 crore, the company delivered 16% revenue growth year-on-year while sustaining a stable 16% operating margin. The pipes-and-tubes segment serves construction, infrastructure, and automotive end-markets, where demand is cyclical.

Face value: ₹10

Market cap

₹4,564 Cr

P/E

44.1×

P/B

6.8×

Dividend yield

0.1%

ROE

17%

ROCE

26.4%

Debt / equity

0.43

OPM

16.3%

EPS (TTM)

₹50.0

Book value

₹322.6

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Valuation at PE 31.51 embeds high growth expectations; verify that the 16% revenue momentum and 5% EPS growth justify current prices or expect downside if growth slows.
Operating margin stable at 16% masks net profit margin compression from 8.95% (Jun 2025) to 8.24% (Jun 2026); identify the source (finance costs, depreciation, tax rate) and sustainability.
Cyclical exposure: Construction, infrastructure, and automotive capex drive demand; a downturn in these sectors would compress both volumes and margins.
Commodity-linked margin risk: Raw-material and energy price volatility could compress operating margin from current 16% levels if selling prices don't rise proportionally; monitor input cost trends.

Generated analysis · source review pending

Growth drivers

Revenue increased 16% year-on-year from ₹276.41 Cr (Jun 2025) to ₹320.54 Cr (Jun 2026); verify whether growth reflects organic volume expansion, market-share gains, or pricing increases.
Operating margin remained stable at ~16% across the same period despite higher volumes; confirm whether input costs, pricing, or product mix are supporting margins.
EPS grew 5.2% year-on-year (₹12.12 to ₹12.75), lagging revenue growth; verify whether capex intensity, tax changes, or working-capital management explain the gap.

Generated analysis · source review pending

1,074 historical price candles were omitted because the exchange source has not been verified.

₹2,204.9+0.4%1Y

Quick read

rule-based

Pros

+Strong return on equity of 22.4% (3-yr avg)
+High return on capital employed of 30.7%
+Profit CAGR of 32.1% over the last 3 years
+Revenue CAGR of 28.3% over the last 3 years

Cons

−Low dividend payout of 3% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

53/100

Business quality: 52
Growth: 76
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	387	552	802	959	1,167
COGS	315	445	575	640	771
Gross profit	72	108	227	319	396
	23	39	81	151	206
	49	69	146	168	191
OPM %	12.7%	12.5%	18.2%	17.5%	16.3%
Depreciation	1	2	12	19	24
Interest	7	10	22	34	41
	2	2	3	11	11
Profit before tax	43	60	116	125	137
Tax	11	15	30	0	35
Tax %	26.1%	25.9%	25.7%	0%	25.8%
	32	44	86	125	102
PAT margin %	8.2%	8%	10.7%	13.1%	8.7%
EPS (₹)	22.6	22.6	42.4	45.7	49.5
EPS adjusted (₹)	20.8	21.8	42.4	61.4	49.2
	0%	4.4%	2.4%	2.2%	2%
Annual report	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	15	20	20	20	21
Reserves	—	302	386	511	648
	—	90	149	192	286
	—	95	202	285	346
Total equity & liabilities	—	507	758	1,008	1,300
	21	60	282	310	399
CWIP	—	122	12	67	124
Investments	—	3	3	3	1
	—	323	461	629	776
Total assets	—	507	758	1,008	1,300

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-60	9	52	69	112
	-23	-178	-100	-114	-203
	83	169	38	47	94
Net cash flow	-0	1	-10	2	3
Free cash flow	-81	-153	-55	-40	-76
CFO / Operating profit %	-121.9%	12.9%	35.7%	41%	59%

Compounded sales growth

7 years: —
5 years: —
3 years: 28%
1 year: 22%

Compounded profit growth

7 years: —
5 years: —
3 years: 32%
1 year: -19%

Return on equity

7 years: —
5 years: 56%
3 years: 20%
Last year: 15%

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Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	18.6%	19.5%	28.3%	33.3%	34%
EBITDA margin %	12.7%	12.5%	18.2%	17.5%	16.3%
EBIT margin %	12.4%	12.2%	16.8%	15.6%	14.3%
PAT margin %	8.2%	8%	10.7%	13.1%	8.7%
Working capital
Receivable days	—	47	81	73	81
Inventory days	—	137	143	196	183
Payable days	—	61	110	137	141
NWC days	—	123	114	132	124
Leverage
Current ratio	—	2.04	1.47	1.41	1.42
Debt to EBITDA	—	1.31	1.02	1.14	1.5
Debt to equity	—	0.28	0.37	0.36	0.43
Interest coverage	7.1	7.1	6.2	4.6	4.4
Asset turnover	—	1.09	1.06	0.95	0.9
Return ratios
Return on assets %	—	8.7%	11.3%	12.4%	7.8%
Return on capital employed %	—	19.9%	34.5%	31.3%	26.4%
Return on equity %	—	13.7%	21.2%	23.6%	15.3%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	48.63%	48.68%	48.68%	48.68%	47.94%	48.12%	48.12%	48.12%	48.44%	48.41%	48.41%	48.41%
	6.6%	4.81%	4.27%	5.1%	5.25%	4.3%	5.81%	4.93%	4.25%	3.96%	2.71%	2.63%
	7.24%	8.25%	13.02%	13.19%	14.15%	14.06%	14.52%	14.96%	15.14%	17.35%	17.49%	17.81%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	37.53%	38.26%	34.03%	33.03%	32.66%	33.52%	31.55%	31.99%	32.17%	30.28%	31.39%	31.15%
No. of shareholders	—	—	—	—	—	—	—	—	60,837	58,700	57,317	53,604

Promoter holding down 0.22 percentage points since Sep 2023.

55 deals · 24 May 2022 – 18 Sept 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
18 Sept 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	1,07,225	₹2,235.89	₹23.97 Cr
18 Sept 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	55,023	₹2,224.79	₹12.24 Cr
29 Feb 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	1,01,480	₹1,837.36	₹18.65 Cr
29 Feb 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	1,01,480	₹1,837.12	₹18.64 Cr
8 Feb 2024	PIONEER INVESTMENT FUND SCHEME II	Block	NSE	Buy	2,53,800	₹1,500.00	₹38.07 Cr
8 Feb 2024	HIMALAYA FINANCE AND INVESTMENT CO	Block	NSE	Sell	2,53,800	₹1,500.00	₹38.07 Cr
8 Feb 2024	PIONEER INVESTMENT FUND SCHEME II	Bulk	NSE	Buy	2,53,800	₹1,500.00	₹38.07 Cr
8 Feb 2024	HIMALAYA FINANCE AND INVESTMENT CO	Bulk	NSE	Sell	2,53,800	₹1,500.00	₹38.07 Cr
30 Jan 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	1,27,481	₹1,524.74	₹19.44 Cr
30 Jan 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	1,27,481	₹1,524.40	₹19.43 Cr

1–10 of 55

1 / 6

Mr. Arun Axaykumar KothariExecutive Director-Chairperson related to Promoter-MD
Mr. Megharam Sagramji ChoudharyExecutive Director
Mr. Dhruv Mahendrakumar PatelExecutive Director
Mr. Jayantiram Motiram ChoudharyExecutive Director
Mr. Kailash Nath BhandariNon-Executive - Independent Director
Mr. Pranay Ashok SuranaNon-Executive - Independent Director
Mr. Shyam AgrawalNon-Executive - Independent Director
Mrs. Komal Lokesh KhadariaNon-Executive - Independent Director
Mr. Hareshkumar MayaniChief Financial Officer
Mr. Pavan Kumar JainCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 4 fund houses

Held by these funds

4.1%

of the company's equity

All mutual funds

5.93%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

6 schemes · 4 fund houses

		Shares
SMALL CAP FUND	Nippon India Mutual Fund	6 L	98.59	0.12%	2.899%	-0
HOUSING OPPORTUNITIES FUND	Tata Mutual Fund	98,614	16.2	3.39%	0.476%	-0
IB29-Groww Multicap Fund	Groww Mutual Fund	80,103	13.16	0.89%	0.387%	+31,181
IB60-Groww Small Cap Fund	Groww Mutual Fund	66,987	11.01	1.44%	0.324%	+16,631
IB13-Groww Value Fund	Groww Mutual Fund	3,504	0.58	0.77%	0.017%	+916
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	31	0.01	0.01%	0%	-0

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Feb 2026Transcript AI SummaryPPTREC
Nov 2025TranscriptAI SummaryPPTREC

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

8

Final dividend4 Sept 2026 · ex-date₹0.5
Interim dividend18 Nov 2025 · ex-date₹0.5
Final dividend18 Sept 2025 · ex-date₹0.5
Interim dividend29 Nov 2024 · ex-date₹0.5
Final dividend17 Sept 2024 · ex-date₹0.5
Interim dividend7 Nov 2023 · ex-date₹0.5
Final dividend18 Sept 2023 · ex-date₹0.5
Interim dividend18 Nov 2022 · ex-date₹0.5

1

Board meeting to consider results10 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

13 announcementsExport CSV

1 Oct 2026, 4:39 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

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Ratio	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	18.6%	19.5%	28.3%	33.3%	34%
EBITDA margin %	12.7%	12.5%	18.2%	17.5%	16.3%
EBIT margin %	12.4%	12.2%	16.8%	15.6%	14.3%
PAT margin %	8.2%	8%	10.7%	13.1%	8.7%
Working capital
Receivable days	—	47	81	73	81
Inventory days	—	137	143	196	183
Payable days	—	61	110	137	141
NWC days	—	123	114	132	124
Leverage
Current ratio	—	2.04	1.47	1.41	1.42
Debt to EBITDA	—	1.31	1.02	1.14	1.5
Debt to equity	—	0.28	0.37	0.36	0.43
Interest coverage	7.1	7.1	6.2	4.6	4.4
Asset turnover	—	1.09	1.06	0.95	0.9
Return ratios
Return on assets %	—	8.7%	11.3%	12.4%	7.8%
Return on capital employed %	—	19.9%	34.5%	31.3%	26.4%
Return on equity %	—	13.7%	21.2%	23.6%	15.3%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Welspun Corp LimitedWELCORPWELCORP	₹68,741 Cr	₹70,904 Cr	₹17,300 Cr	₹2,403 Cr	13.3%	₹2,309 Cr	9.7%	19.2%	19.4%	85
Apl Apollo Tubes LimitedAPLAPOLLOAPLAPOLLO	₹58,753 Cr	₹59,205 Cr	₹22,897 Cr	₹1,841 Cr	7.8%	₹1,229 Cr	5.2%	30.8%	25.3%	-12
Shyam Metalics And Energy LimitedSHYAMMETLSHYAMMETL	₹29,244 Cr	₹30,225 Cr	₹19,574 Cr	₹2,519 Cr	12.6%	₹860 Cr	5.7%	13.5%	9.7%	8
Ratnamani Metals & Tubes LimitedRATNAMANIRATNAMANI	₹18,362 Cr	₹18,666 Cr	₹4,314 Cr	₹732 Cr	16.9%	₹433 Cr	11.9%	17.8%	12.5%	210
Jindal Saw LimitedJINDALSAWJINDALSAW	₹17,286 Cr	₹21,976 Cr	₹18,263 Cr	₹1,941 Cr	12.4%	₹653 Cr	5.2%	11.4%	8.1%	159
Usha Martin LimitedUSHAMARTUSHAMART	₹14,982 Cr	₹15,128 Cr	₹3,837 Cr	₹768 Cr	19.1%	₹507 Cr	12.6%	20%	15.4%	190
Godawari Power And Ispat LimitedGPILGPIL	₹14,517 Cr	₹14,943 Cr	₹5,808 Cr	₹1,263 Cr	23.3%	₹808 Cr	14.9%	20.1%	14.9%	73
Gallantt Ispat LimitedGALLANTTGALLANTT	₹12,793 Cr	₹13,340 Cr	₹4,437 Cr	₹655 Cr	16.2%	₹436 Cr	11%	19.2%	15.7%	58
Maharashtra Seamless LimitedMAHSEAMLESMAHSEAMLES	₹9,363 Cr	₹9,377 Cr	₹4,620 Cr	₹696 Cr	14.6%	₹737 Cr	15%	13.6%	10.6%	153
Jayaswal Neco Industries LimitedJAYNECOINDJAYNECOIND	₹8,863 Cr	₹10,960 Cr	₹7,589 Cr	₹1,409 Cr	18.6%	₹564 Cr	6.5%	22.9%	17.8%	151
Sunflag Iron And Steel Company LimitedSUNFLAGSUNFLAG	₹7,812 Cr	₹8,286 Cr	₹3,995 Cr	₹476 Cr	12.1%	₹206 Cr	5.1%	3.8%	2.3%	95
Man Industries (India) LimitedMANINDSMANINDS	₹6,912 Cr	₹7,411 Cr	₹3,875 Cr	₹532 Cr	12.3%	₹204 Cr	4.8%	18.4%	9.2%	114

Date	Category	Subject	Filing
1 Oct 2026, 4:39 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
30 Sept 2026, 7:13 pm	Company Update General	Intimation Under Regulation 30 Of The Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015, Corrigendum To The Notice Of Extra Ordinary General Meeting ('EGM Notice').	PDF
30 Sept 2026, 7:04 pm	AGM/EGM EGM	Intimation Under Regulation 30 Of The Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015, Corrigendum To The Notice Of Extra Ordinary General Meeting ('EGM Notice').	PDF
17 Sept 2026, 5:55 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
16 Sept 2026, 10:09 pm	AGM/EGM EGM	Intimation Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015.	PDF
16 Sept 2026, 6:14 pm	Company Update Issue of Securities	Announcement under Regulation 30 (LODR)-Issue of Securities	PDF
16 Sept 2026, 6:05 pm	Company Update Preferential Issue	Announcement under Regulation 30 (LODR)-Preferential Issue	PDF
16 Sept 2026, 6:02 pm	Board Meeting Outcome of Board Meeting	Board Meeting Outcome for Outcome Of Board Meeting	PDF

Venus Pipes & Tubes Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

Dividends8

Board meetings1

Announcements

Dividends8

Board meetings1

Ratio timeline

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Quarterly record

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

8

1

8

1