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Venus Pipes & Tubes Results: Latest Quarterly Results & Analysis

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Venus Pipes & Tubes Ltd. 12 Aug 2025 14:51 PM

Q1FY26 Quarterly Result Announced for Venus Pipes & Tubes Ltd.

Iron & Steel Products company Venus Pipes & Tubes announced Q1FY26 results

  • Revenue: Rs 276.4 crore compared to Rs 240.1 crore during Q1FY25, change 15.1%.
  • EBITDA: Rs 44.9 crore compared to Rs 47.9 crore during Q1FY25, change -6.3%.
  • EBITDA Margin: 16.2% for Q1FY26.
  • PAT: Rs 24.8 crore compared to Rs 27.5 crore during Q1FY25, change -27.5%.
  • PAT Margin: 9.0% for Q1FY26.

Arun Kothari, Managing Director, Venus Pipes & Tubes, said: “We are pleased to report a robust performance for the quarter, achieving an all-time high quarterly revenue of Rs 276.4 crore, reflecting a growth of 15.1%. EBITDA stood at Rs 44.9 crore, translating to healthy margins of 16.2%. This achievement comes despite the prevailing global uncertainties surrounding trade tariffs and supply chain challenges. Notably, our export business remained resilient, contributing 37.3% of total revenues, underscoring the strength of our presence in international markets and the trust in our product quality.

We remain optimistic about our growth trajectory, supported by our diversified market reach, strong customer relationships, and proven execution capabilities. At the same time, we remain vigilant of the evolving global economic environment and will continue to adapt our strategies accordingly.

Our continued approvals from leading customers across industries reaffirm the superior quality and reliability of our products. Demand from the power sector has shown encouraging momentum, further strengthening our healthy order book and providing clear visibility for sustained growth.

In closing, with a strong order pipeline and a focus on innovation and operational excellence, we are well-positioned to capitalise on emerging opportunities, navigate challenges with agility, and deliver long-term value to our stakeholders.”

Result PDF

Iron & Steel Products company Venus Pipes & Tubes announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Revenue of Rs 258 crore, a growth of 15.2% YoY for Q4FY25
  • EBITDA of Rs 42 crore with EBITDA margins at 16.1% for Q4FY25
  • PAT of Rs 24 crore with PAT margins at 9%

FY25 Financial Highlights:

  • FY25 revenue stood at Rs 959 crore, a growth stood of 19.5%
  • EBITDA stood at Rs 168 crore for FY25, growing by 14.6% YoY with margins at 18%
  • FY25 PAT stood at Rs 93 crore, growing by 8.1% YoY with margins at 10%.

Commenting on the financial performance, Arun Kothari, Managing Director, Venus Pipes & Tubes, said, “We are pleased to report a strong overall performance for FY25, with revenues reaching Rs 958.5 crores — a growth of 19.5% compared to the same period last year. EBITDA grew by 14.6% to Rs 167.6 crores, while PAT increased by 8.1%, standing at Rs 92.9 crores.

This year marked a significant phase of capacity ramp-up and the introduction of new value added product lines. We also focused on strengthening our leadership team by onboarding experienced talent at senior levels to reinforce our brand and support our expansion efforts.

Despite global uncertainties in the latter part of the fiscal year, our exports grew more than threefold. We continue to deepen our presence in key international markets such as Europe, the United States, and the Middle East, and remain optimistic about sustaining this momentum into FY26. Our robust domestic presence continues to provide a natural hedge against global volatility.

We enter FY26 with a strong order book, including a significant new contract from one of India’s leading integrated power plant equipment manufacturers. We have also operationalized our new capacity for value-added welded pipes. With the introduction of fittings products in the second half of the year, we will be among the few players offering a comprehensive range of piping solutions to our customers.

Looking ahead, we remain focused on executing our growth strategy with agility and resilience. With a strong foundation in place, we are confident in delivering sustained value to all our stakeholders”

Result PDF

Iron & Steel Products company Venus Pipes & Tubes announced Q3FY25 results

  • Revenue of Rs 231.3 crore, a growth of 12% YoY for Q3FY25.
  • EBITDA of Rs 37 crore with EBITDA margins at 16% for Q3FY25.
  • PAT of Rs 18 crore with PAT margins at 8%.

Arun Kothari, Managing Director, Venus Pipes & Tubes, said: We are pleased to report steady performance for the quarter, with revenues growing by 11.7% to Rs 231.3 crore, compared to Rs 207.1 crore in the same period last year. Growth remained strong over the nine-month period, with revenues rising 21.2% year-on-year to Rs 700.4 crore. EBITDA stood at Rs 37.2 crore for Q3FY25, while for 9MFY25, it reached Rs 126.0 crore, reflecting a 24.4% growth. Profit for the quarter stood at Rs 18.0 crore, with 9MFY25 profit at Rs 69.2 crore.

On the geographical front, we continued our strong export momentum, achieving a 153% YoY growth for the quarter our highest-ever quarterly export revenue. Our share of exports revenue stood at 38.5% for the quarter. Additionally, our focus on expanding in the U.S. market is yielding results, with strong sales driven by a well-established team and a growing network of dealers. We are seeing strong demand for welded pipes in US, Middle East and African markets. European markets continue to remain strong for us with increasing penetration owing to competitive pricing and superior quality of our products.

Domestically, sales remain impacted by sluggish private and government sector capex. While we anticipate this trend to persist in the near term, we remain optimistic about growth on the back of market share gains from unorganized players and with the introduction of fittings and other value-added products, we are positioned as a one-stop piping solutions provider for our customers.

We continue to secure approvals from leading industry players, reinforcing the trust in our product quality. Our focus remains on expanding our SKU offerings, enhancing our manufacturing capabilities with higher-grade pipes and tubes, and penetrating new geographies.

Looking ahead, we remain committed to driving growth through market expansion, innovation, and operational excellence. With a strong export trajectory, increasing acceptance of our value-added products, and strategic investments in capacity expansion, we are wellpositioned to capitalize on future opportunities.

Result PDF

Iron & Steel Products company Venus Pipes & Tubes announced H1FY25 & Q2FY25 results

Financial Highlights:

  • Revenue of Rs 229.0 crore, a growth of 20% YoY for Q2FY25; H1FY25 revenue stood at Rs 469.1 crore, a growth stood of 26%.
  • EBITDA of Rs 40.9 crore, a growth of 18% YoY with EBITDA margins at 18% for Q2FY25 and Rs 88.9 crore for H1FY25, growing by 42% YoY with margins at 19%.
  • PAT of Rs 23.7 crore, a growth of 17% YoY with PAT margins at 10.4%; H1FY25 PAT stood at Rs 51.2 crore, growing by 36%.

Business Highlights:

  • Your company reported robust revenue growth of 19.6%, standing at Rs 228.9 crores with EBITDA margins of 17.9%. For H1FY25, the revenues stood at Rs 469.1 crores (volume growth of 30% for Seamless and Welded) witnessing a growth of 26.4% YoY with robust margins of 19.0%.
  • The above growth was achieved despite domestic sales being impacted due to the spill over of orders to next quarters, primarily due to heavy rainfall in certain regions of the country. However, the overall demand outlook remains strong.
  • Exports witnessed strong growth of 2.5x for the quarter on a YoY basis on the back of strong export demand, despite elevated freight rates which impacted margins during the quarter.
  • Order book was all time high of Rs ~340 crores.
  • Company continues to invest in best talent which has led to increase in market share across geographies (5x jump in domestic seamless pipe market share).
  • We have appointed Mr. Neelanjan Bharadwaj as CSO & Mr. Mark Light as VP of Business Development (Energy), to further strengthen brand Venus & gain market share.
  • Board of directors have declared an interim dividend of Rs 0.5 / - per equity share (FV Rs 10/- Per Share).

Arun Kothari, Managing Director, Venus Pipes & Tubes, said: "Our performance in H1FY25 has been robust, marked by strong revenue growth of 26.4% year-on-year to Rs 469.1 crore. EBITDA reached Rs 88.9 crore, reflecting an impressive 42.5% increase from the same period last year, with margins at 19.0%. Profit after tax (PAT) also demonstrated solid growth, rising 35.8% to Rs 51.2 crore.

This robust performance has been primarily driven by exceptional export market demand, with export revenues increasing more than 2.5 times over the previous year, fueled by high demand for our products in Europe, US and Middle Eastern markets. Exports now contribute 33% of our topline, and we expect this growth momentum to continue as conditions in the Red Sea region improve. Domestically, while heavy rainfall in certain regions led to a spillover of orders, however demand outlook and our order pipeline remain as robust as ever.

Our order book continues to reflect strong demand across key sectors including, oil & gas, engineering chemicals & power. We remain optimistic about maintaining this momentum as we meet the growing needs of our clients.

We look forward to delivering exceptional quality products that meet the evolving needs of our customers and exceed industry standards. Our commitment extends to delivering sustained value to all our stakeholders, shareholders, employees, and communities alike as we continue to innovate and drive growth across all our markets."

Result PDF

Iron & Steel products company Venus Pipes & Tubes announced Q1FY25 results:

  • During the quarter, the company achieved its highest-ever quarterly revenue of Rs 240.1 crore, a stellar growth of 34%
  • EBITDA stood at Rs 47.9 crore growing by 74% YoY with a margin of 20%
  • PAT for the quarter stood at Rs 27.5 crore with margin standing at 11.5%
  • Our exports revenue continue to outperform driven by robust order inflows across markets. Exports revenue stood at Rs 60.9 crore, compared to Rs 7.7 crore in Q1FY24, a significant growth of 690%. Exports contribute 25% to the total revenues in Q1FY25, as compared to 4% in Q1FY24
  • We are witnessing increase in inquiries and order flows from a diverse range of industries such as oil & gas, pharma, engineering, power and others
  • Our overall orderbook remains robust, not only from Europe, but we are seeing strong traction from US and Middle East markets
  • Additionally, phase 1 capex of our value-added product lines is on track and is set for completion by March 2025
  • Rs 17.85 crore were received from holders of convertible warrants in accordance with the terms of the preferential allotment

Commenting on the Q1FY25 performance of the company Arun Kothari, Managing Director for Venus Pipes & Tubes Limited Said, “We are proud to have started FY25 with a strong quarter, showcasing exceptional performance. Our revenues reached Rs 240.1 crore, reflecting a robust growth of 33.7%. Our EBITDA stands at Rs 48 crore, growing by 73.6%, with margins at 20%. Meanwhile, our PAT has increased to Rs 27.5 crore, a growth of 58%.

During this quarter, our export performance has been exceptionally strong, with revenues increasing by an impressive 691% year-on-year, reaching Rs 60.9 crore and contributing 25% of our total revenues, up from 4% in Q1FY24. Sequentially, we have achieved significant growth of 123%. We are experiencing strong momentum not only in our key market of Europe but also seeing substantial traction in the US and Middle East markets. Moving forward, we have a robust order book from these regions and expect this export momentum to continue.

Furthermore, our high-margin seamless pipes segment continues its steady growth trajectory with a 22% increase in revenue. The welded pipes segment also experienced a substantial growth of 55%, fueled by strong order inflows from the oil & gas sector, where we see vast potential for further expansion.

Our order book stands strong, with orders pouring in from a diverse set of industries, predominantly from oil & gas, pharma, engineering, power and other sectors.

We are well-positioned to capitalize on the current growth momentum. Our strategic initiatives, robust order book, and expanding presence in key international markets are paving the way for sustained success. We remain steadfast in our commitment to delivering high-quality products that meet and exceed our customers expectations.”

Result PDF

Iron & Steel products company Venus Pipes & Tubes announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

• Revenue of Rs 224.1 crore, a growth of 27.1% as compared to Rs 176.3 crore in Q4FY23
• EBITDA of Rs 45.0 crore, a growth of 108.6% YoY as against Rs 21.6 crore in Q4FY23
• PAT of Rs 25.0 crores, a growth of 86.4% YoY as against Rs 13.4 crore in Q4FY23

FY24 Financial Highlights:

• Revenue of Rs 802.2 crores, a growth of 45.2% as compared to Rs 552.4 crore in FY23
• EBITDA of Rs 146.3 crores, a growth of 111.7% YoY as against Rs 69.1 crore in FY23
• PAT of Rs 85.9 crores, a growth of 94.3% YoY as against Rs 44.2 crore in FY23
• Recommends final dividend of Rs 0.5 per equity share (FV Rs 10/-per equity share). Total dividend declared for FY2023-24 stands    at Rs 1 per equity share of Rs 10/- each

Commenting on the financial performance, Arun Kothari, Managing Director, Venus Pipes & Tubes, said, “We are delighted to conclude this fiscal year on a high note, showcasing exceptional financial performance. Our revenues have surged to Rs 802.2 crore, marking an impressive growth of 45.2%. EBITDA stood at Rs 146.3 crore, exhibiting a staggering increase of 111.7%, with margins standing at 18.2% for FY24. PAT for the same period stood at Rs 85.9 crore.

Throughout the year, our primary focus has been on expanding our export base. Leveraging our backward integration of seamless pipes, our export revenues have witnessed a remarkable surge of 231%, reaching Rs 98.7 crore, now comprising approximately 12% of our total revenues. We have also started to receive orders from US markets, and we are looking ahead on penetrating this market along with Middle East, while simultaneously solidifying our presence across Europe.

In addition to our efforts to expand our export channels, we also have diversified our presence across various industries. This year, we successfully ventured into sectors such as oil & gas, railways, food processing, and paint industry.

Lastly, we recently announced capacity expansion into value added product lines, with foray into fittings business and adding capacities for titanium tubes. This strategic initiative enables us to provide comprehensive piping solutions. With our marquee customer base and quality product offerings, we are optimistic of increasing revenue and profitability growth.

We enter FY25 with an optimistic outlook and a focus on ramping up our capacities along with deeper export penetration. Our commitment remains steadfast towards reaching out to diverse sectors, maintaining product diversity, and expanding our footprint across various geographies with unwavering enthusiasm.”

Result PDF

Iron & Steel Products company Venus Pipes & Tubes announced Q3FY24 & 9MFY24 results:

  • Q3FY24:
    • Revenue of Rs 207.1 crore, a growth of 52.2% as compared to Rs 136.1 crore in Q3FY23
    • EBITDA of Rs 39.1 crore, a growth of 123.1% YoY as against Rs 17.5 crore in Q3FY23
    • PAT of Rs 23.3 crore, a growth of 106.6% YoY as against Rs 11.3 crore in Q3FY23
  • 9MFY24:
    • Revenue of Rs 578.1 crore, a growth of 53.7% as compared to Rs 376.1 crore in 9MFY23
    • EBITDA of Rs 101.2 crore, a growth of 113.0% YoY as against Rs 47.5 crore in 9MFY23
    • PAT of Rs 60.9 crore, a growth of 97.9% YoY as against Rs 30.8 crore in 9MFY23

Commenting on the financial performance, Arun Kothari, Managing Director, Venus Pipes & Tubes, said, “We are delighted to announce robust financial results, achieving our highest-ever revenues of Rs 207.1 crore, reflecting a remarkable 52.2% YoY growth. Our EBITDA has also surged by an impressive 123.1% YoY, with EBITDA margins reaching 18.9% for Q3FY24. Revenues for 9MFY24 stood at Rs 578.1 crore witnessing a growth of 53.7% YoY with EBITDA margins standing at 17.5%.

During the quarter, we have operationalised 200 MTPM out of the 400 MTPM of additional capacity expansion of Seamless Pipes and the rest of the capacity expansion will be completed in Q4FY24. Additionally, we are proud to say that we are among a handful of companies in the country to receive approvals from leading oil and gas companies from India & Middle East. These approvals are a testament to the quality of our offerings and strengthen our goal of leading the stainless-steel pipes & tubes industry.

Our efforts in Europe are bearing fruit with exports now contributing 17% to our total revenues. Our commitment to delivering products that meet European standards has solidified our brand as a trusted player. With the goal of expanding our global footprint, we are focusing on increasing our presence across the Middle East, Africa & US and we have already appointed Senior Marketing representatives for these regions. Our goal is to replicate the success we've achieved in Europe and extend our brand presence in America, Africa & Middle East. We remain proactive in identifying and capitalizing on new opportunities across diverse geographies to further enhance our brand presence.

Leveraging our strong partnerships and quality offerings with increased SKUs, we are confident of deeper market penetration, and continue to focus and increase our efforts to take brand Venus to newer geographies across India and the world.”

 

Result PDF

Iron & Steel Products company Venus Pipes & Tubes announced Q2FY24 & H1FY24 results:

  • During the quarter, the company witnessed highest-ever quarterly revenue of Rs 191.4 crore with EBITDA margins surpassing 18%. For H1FY24, the revenues stood at Rs 371 crore witnessing a growth of 54.6% YoY with margins of 16.8%.
  • EBITDA of Rs 34.8 crore, a growth of 124.5% YoY.
  • PAT of Rs 20.3 crore, a growth of 97.1% YoY.
  • Revenues for Q2FY24 from Stainless steel seamless and Welded pipes witnessed a growth of 153% and 1% YoY respectively.
  • Volume for Seamless Pipes witnessed a growth of more than 100% and Welded Pipes witnessed a growth in high teens for Q2FY24 compared to same period last year.
  • Venus has experienced remarkable export growth, thanks to our strong on-ground team and consistent dedication to quality. Exports made up ~15% of the total revenues for Q2FY24 standing at Rs 28.5 crore vs Rs 1.6 crore for Q2FY23
  • We reported a positive net cashflow from operations of Rs 6.5 crore for H1FY24
  • The planned capex to add an additional 400 MTPM of seamless pipes is on schedule and is poised for completion by Q4FY24

Commenting on the company’s financial performance, Arun Kothari, Managing Director, Venus Pipes & Tubes, said, “We are happy to report robust financial performance with highest ever Revenues of Rs 191.4 crore growing at 51% YoY and EBITDA growing at a staggering 124.5% YoY, whilst EBIDTA margins stood at 18.2% for Q2FY24. Revenues for H1FY24 stood at Rs 371 crore witnessing a growth of 54.6% YoY with EBITDA margins standing at 16.8%.

During the quarter, we witnessed solid growth on the exports front, forming 15% of our revenues largely due to our backward integration of seamless pipes resulting in increased acceptance for our products primarily in European markets. We are optimistic that this momentum to persist going forward and continue to focus on expanding our share of exports. Additionally, the imposition of ADD on seamless pipes and mother hollow pipes has benefited us immensely. As Venus being among very few players with backward integration in stainless steel seamless pipes. Welded pipes also witnessed a strong volume growth with increased demand.

Historically, H2 has been a stronger half of the year, and we are optimistic about the same for this year as well. Our growth trajectory remains strong as we actively pursue expansion into new sectors and geographies. Our commitment to delivering best-in-class products remains unwavering, and we are dedicated to elevating the Venus brand to new heights.”

Result PDF

Iron & steel products company Venus Pipes & Tubes announced Q1FY24 results:

  • Highest-ever revenue of Rs 179.6 crore, a growth of 58.1% on a YoY basis
  • Highest-ever EBITDA of Rs 27.6 crore, a growth of 91.7% on a YoY basis
  • Highest-ever PAT of Rs 17.4 crore, a growth of 91.2% on a YoY basis
  • Total capex will be in the range of Rs 40-45 crore which will be funded from internal accruals

Commenting on the company’s financial performance, Arun Kothari, Managing Director, Venus Pipes & Tubes, said, “We are happy to report robust financial performance with Revenues growing at 58% YoY and EBITDA growing at 92% YoY, whilst EBIDTA margins increasing by ~269 bps YoY.

We started FY24 by commencing operations at our new facilities and now have tripled our capacity along with backward integration of manufacturing of mother hollow pipes. This has not only enhanced our competitiveness but also enabled us to enter new markets and customer segments.

The industry is witnessing a notable shift towards organized players due to the compulsory BIS certification and the implementation of Anti-Dumping Duty (ADD). This provides us with a great opportunity to seize the industry's structural changes. Moreover, the Indian capex cycle is underway, driven by government support and favorable policies, resulting in substantial investments across industries and increased demand for our products.

With a wide range of product SKUs and enhanced capacities, robust domestic demand, and increased opportunities in the export markets, we are optimistic about sustaining the growth momentum going forward.

We are well-positioned to capture new markets, forge stronger partnerships, and continue to raise the bar in terms of product excellence and customer satisfaction. At Venus, the company strives to increase its market share by adding to the product portfolio, expanding the client base and serving the existing clients better.”

 

 

 

Result PDF

Iron & Steel Products company Venus Pipes & Tubes announced Q4FY23 & FY23 results:

  • Q4FY23:
    • Total Revenue stood at Rs 176.3 crore in Q4FY23 as compared to Rs 110.2 crore in Q4FY22, growth of 60% YoY
    • Revenue for seamless pipes stood at Rs 96.9 crore in Q4FY23 as compared to Rs 34.3 crore in Q4FY22, a growth of 182% on a YoY basis
    • Sales to direct domestic customers increased by 90% for Q4FY23 & 102% for FY23 on a YoY basis
    • EBIDTA for the quarter stood at Rs 21.6 crore, a growth of 57% on a YoY basis
    • PAT for the quarter stood at Rs 13.4 crore, a growth of 66% on a YoY basis
  • FY23:
    • Revenue of Rs 552.4 crore for FY23, a growth of 43% on YoY basis
    • EBITDA of Rs 69.1 crore for FY23, a growth of 40% on a YoY basis
    • PAT of Rs 44.2 crore for FY23, a growth of 40% on a YoY basis
  • The Board of directors has recommended final dividend of Rs 0.5 per equity share, i.e., 5% on face value of Rs 10/- per equity share respectively for FY23 subject to approval of shareholders in the ensuing Annual General Meeting. With this, the total dividend declared for FY23 stands at Re 1 per equity share of Rs 10/- each.

Commenting on the company’s financial performance, Arun Kothari, Managing Director, Venus Pipes & Tubes, said, “We are proud to announce that the company achieved its highest ever Revenue for Q4FY23 & FY23 registering a growth of 60% & 43% respectively. Our EBIDTA & PAT grew by 40% YoY for FY23.

We are also delighted to inform that we have started our commercial production for our new capacity of Seamless pipes & higher dia welded pipes on 24th May 2023. Alongside, we have also commenced our production for Mother Hollow pipes as our capacity expansion for backward integration.

We have doubled the sales of Seamless Pipes in FY23 on account of our product quality, deep customer connects, addition of new customers & brand created for Venus over the years. Exports sales were impacted during the quarter on account of geo-political tensions and inflationary environment, especially in the European market. We believe that this is temporary in nature and exports sales should start picking up since we have commenced backward integration.

We enter FY24, with positive outlook and continue to grow on the back of our new capacities commencing and backward integration coming into place. We continue to work on our goal of reaching out to as many sectors as we can and maintaining diversity across our products, clients and geographies with high spirits.”

 

Result PDF

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