Venus Pipes & Tubes Ltd
NSE: VENUSPIPES · Iron & Steel Products · sector
₹1,709.00NSE close 2026-10-26
Key numbers
Market cap₹3,540 cr
Price₹1,709.00
52w high / low₹2,348 / ₹890
P/E34.0xSector median 15.5x
P/B5.3xSector median 1.7x
Book value₹322.7
Dividend yield0.06%Sector median 0.60%
ROE17.3%Sector median 11.1%
ROCE19.0%Sector median 11.9%
OPM16.2%Sector median 6.7%
Debt / equity0.43xSector median 0.21x
EV/EBITDA19.3xSector median 11.8x
Interest cover4.3x
Current ratio1.42x
Sales growth 3y+28.3%Sector median +2.1%
Profit growth 3y+32.1%Sector median +13.0%
PEG1.14x
Last 12 months to Jun 2026, Standalone. "Sector median" = middle value of 118 companies in Iron & Steel Products (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹30 cr vs borrowings ₹286 cr (FY26): borrowings are higher by ₹256 cr.
- Borrowings rose in each of the last 3 years (₹90 cr → ₹286 cr).
- Operating profit covered interest 4.3x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 4 of the last 5 years (FY25, FY24, FY23, FY22).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 10% of net profit in the last 12 months.
- Dividend paid in 4 of the last 5 financial years.
- Price ₹1,709.00 on 2026-10-26: -27.2% from the 52-week high, +92.0% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹2,207.05 · low ₹917.90
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 229 | 231 | 258 | 276 | 292 | 297 | 302 | 321 |
| EBITDA | 41 | 37 | 42 | 45 | 48 | 48 | 50 | 52 |
| OPM % | 17.9% | 16.0% | 16.1% | 16.2% | 16.3% | 16.2% | 16.4% | 16.1% |
| Other income | 4 | 1 | 5 | 4 | 3 | 3 | 2 | 3 |
| Net profit | 24 | 18 | 24 | 25 | 26 | 26 | 26 | 26 |
| EPS (₹) | 11.63 | 8.84 | 11.65 | 12.12 | 12.74 | 12.46 | 12.38 | 12.75 |
| Revenue YoY | +27.3% | +28.3% | +17.1% | +16.0% | ||||
| Profit YoY | +10.3% | +42.5% | +7.6% | +6.7% |
Standalone figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 387 | 552 | 802 | 959 | 1,167 | 1,211 |
| EBITDA | 49 | 69 | 146 | 168 | 190 | 197 |
| Net profit | 32 | 44 | 86 | 125 | 102 | 104 |
| EPS (₹) | 22.55 | 22.60 | 42.36 | 45.65 | 49.51 | 50.33 |
| Revenue growth | +42.8% | +45.2% | +19.5% | +21.7% | +21.7% | |
| Profit growth | +39.6% | +94.5% | +45.8% | -18.7% | +15.0% | |
| Dividend / share (₹) | – | 0.50 | 1.00 | 1.00 | 1.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +28.3% | – | +21.7% |
| Net profit | +32.1% | – | +15.0% |
| EPS | +29.9% | – | – |
| Share price | – | +0.5% (2y) | +40.2% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 322 | 406 | 531 | 668 |
| Borrowings | – | 90 | 149 | 192 | 286 |
| Cash & equivalents | – | 29 | 11 | 16 | 30 |
| Total assets | – | 507 | 758 | 1,008 | 1,300 |
| Fixed assets | – | 60 | 281 | 309 | 396 |
| Capital work in progress | – | 122 | 12 | 67 | 124 |
| Investments | – | 0 | 0 | 0 | 0 |
| Receivables | – | 70 | 177 | 192 | 260 |
| Inventory | – | 167 | 226 | 343 | 387 |
| Payables | – | 74 | 174 | 240 | 297 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | -60 | 9 | 52 | 69 | 112 |
| Cash from investing | -23 | -178 | -100 | -114 | -203 |
| Cash from financing | 83 | 169 | 38 | 47 | 94 |
| Capex | 21 | 162 | 107 | 108 | 189 |
| Free cash flow | -81 | -153 | -55 | -40 | -76 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 13.7% | 21.2% | 23.6% | 15.3% |
| ROCE % | – | 16.8% | 24.8% | 22.1% | 18.7% |
| Debtor days | – | 47 | 81 | 73 | 81 |
| Inventory days | – | 137 | 143 | 196 | 183 |
| Payable days | – | 61 | 110 | 137 | 141 |
| Cash conversion cycle (days) | – | 123 | 114 | 132 | 123 |
| Working capital days | – | 109 | 67 | 68 | 69 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 48.41% |
| FIIs | 3.88% |
| DIIs | 17.19% |
| of which Mutual funds | 6.07% |
| of which Insurance | 4.87% |
| Public (non-institutions) | 30.52% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 48.12% | 48.12% | 48.12% | 48.44% | 48.41% | 48.41% | 48.41% | 48.41% |
| Promoter group | % |
|---|---|
| Megharam S Choudhary | 17.35% |
| Dhruv Mahendrakumar Patel | 12.80% |
| Arun Axaykumar Kothari | 6.75% |
| Jayantiram Motiram Choudhary | 5.85% |
| Payal Arun Bhai Kothari | 5.66% |
| Vishwa Jeet Jhanwar | 0.01% |
| Jyoti Rakesh Lahoti | 0.00% |
| Public holders above 1% | % |
|---|---|
| Kotak Mahindra Life Insurance Company Ltd. | 4.43% |
| Pioneer Investment Fund Scheme II | 3.93% |
| Nippon Life India Trustee Ltd-a/c Nippon India SMA | 2.90% |
| Sundaram Mutual Fund A/C Sundaram Small CAP Fund | 1.44% |
| Ambit India Ascension Fund | 1.42% |
53,969 shareholders. Pledged: 0.00% of promoter shares.
Peers in Iron & Steel Products
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| WELCORP | ₹61,798 cr | 26.7x | 6.8x | 27.8% | 19.2% | 13.9% | +19.8% | 0.21% |
| APLAPOLLO | ₹57,703 cr | 46.9x | 10.9x | 25.9% | 30.1% | 8.0% | +12.6% | 0.28% |
| SHYAMMETL | ₹31,351 cr | 28.0x | 2.7x | 7.8% | 14.2% | 12.9% | +13.7% | 0.36% |
| RATNAMANI | ₹16,345 cr | 37.8x | 4.0x | 11.2% | 15.7% | 16.7% | +0.1% | 0.60% |
| JINDALSAW | ₹14,824 cr | 26.9x | 1.2x | 4.4% | 7.2% | 9.5% | +0.1% | 0.86% |
| USHAMART | ₹14,192 cr | 27.9x | 4.3x | 16.8% | 20.1% | 19.6% | +4.1% | 0.64% |
| GALLANTT | ₹12,989 cr | 31.9x | 3.7x | 12.4% | 14.2% | 13.8% | +3.1% | 0.08% |
| GPIL | ₹11,769 cr | 14.6x | 2.0x | 15.1% | 18.7% | 21.4% | -2.2% | 0.54% |
| JAYNECOIND | ₹8,607 cr | 12.5x | 2.6x | 23.4% | 25.6% | 18.9% | +4.0% | – |
| VENUSPIPES | ₹3,540 cr | 34.0x | 5.3x | 17.3% | 19.0% | 16.2% | +28.3% | 0.06% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-09-04 | Dividend | Dividend - Re 0.50 Per Share |
| 2025-11-18 | Dividend | Interim Dividend - Re 0.50 Per Share |
| 2025-09-18 | Dividend | Dividend - Re 0.50 Per Share |
| 2024-11-29 | Dividend | Interim Dividend - Re 0.50 Per Share |
| 2024-09-17 | Dividend | Dividend - Re 0.50 Per Share |
| 2023-11-07 | Dividend | Interim Dividend - Re 0.50 Per Share |
| 2023-09-18 | Dividend | Dividend - Re 0.50 Per Share |
| 2022-11-18 | Dividend | Interim Dividend - Re 0.50 Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacturing stainless-steel pipes and tubes: Operating from its manufacturing facility in Dhaneti, Gujarat, Venus Pipes & Tubes Limited produces stainless-steel pipes and tubes for the global market. The Company is an established exporter with a widespread distribution network that includes numerous countries in Europe and across the world.
| Sector | Industrials |
| Industry | Iron & Steel Products |
| Sub-industry | Iron & Steel Products |
| Symbol | VENUSPIPES |
| BSE code | 543528 |
| ISIN | INE0JA001018 |
| Face value | ₹10.0 |
| Incorporated | 2015-02-17 |
| Website | www.venuspipes.com |
| Plants (India / abroad) | 1 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.