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Prices as of 8 Oct 2026 close · Not investment advice

Venus Pipes & Tubes Limited

NSE: VENUSPIPESIron & Steel Products

Share price

₹2,119.80

-5.30% close of 8 Oct 2026

Market cap ₹4,452 CrP/E 42.8

Business score

How strong the business is, in one number. The parts behind it are in Pro.

74

out of 100 · worked out 8 Oct 2026

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹4,452 Cr

P/E ratio

42.8

P/B ratio

6.6

ROCE

21.3%

ROE

17.0%

Dividend yield

0.0%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 8 Oct 2026 close52-week high ₹2,282.9052-week low ₹894.00

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Sales grew 21.7% over the past year, and 31.6% a year over its longer record. Meanwhile what it keeps of every 100 rupees of sales improved from 13.0% to 16.3% over the last four years.

Whether it grew faster than its sector

It grew 31.6% a year against a sector median of 10.6% — 21.0 percentage points faster.

Room to re-rate, or risk of de-rating

At 42.8× earnings it costs 1.8× the market, which pays 23.9× across 2199 companies we can price. Its own industry sits at 30.3×, across 5 companies. It is against its own five-year median of 38.9×, the 58th percentile of its own range.

Whether growth justifies the valuation

Priced at 1.3 times its growth rate, on earnings growth of 32%.

Profit growthPrice per ₹1 profitPer 1% growth
Venus Pipes & Tubes Limited — this one32%/yr42.8×₹1.3
Welspun Corp Limited119%/yr30.3×—
APL Apollo Tubes Limited23%/yr46.5×₹2.0
Shyam Metalics and Energy Limited9%/yr26.4×₹2.9
Ratnamani Metals & Tubes Limited-1%/yr39.9×—
Jindal Saw Limited14%/yr26.5×₹1.9

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Iron & Steel Products), it ranks 12 of 70 on returns, 7 of 68 on growth, 16 of 70 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

A wide advantage: it earns 21.3% on capital, ahead of 83% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

No — Over the last five years it made ₹182 crore of cash from the business but spent ₹588 crore on plant and equipment, ₹406 crore more than it made; the gap was from lenders and shareholders. But only about 48 of every 100 rupees of profit it reported over 8 years arrived as cash — the rest is tied up. Its cash comes back faster than it used to: it went from being waiting 99 days for its cash to waiting 59 days for its cash.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

7 of 9 checks clear · 78%

Latest result · Q1 FY27

What the last results showed. Whether management kept its word is in Pro.

Sales grew 16% against the more-than-20% promised for the year, and the margin goal slipped two years

Announced 10 Aug 2026 · Standalone · Unaudited

Revenue

₹321 Cr

Revenue vs last year

+16.1%

Revenue vs last quarter

+6.1%

Net profit

₹26 Cr

Profit vs last year

+5.6%

Profit vs last quarter

+1.6%

Net margin

8.2%

EPS

₹12.75

Earnings call transcript · 10 Aug 2026

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap
₹4,452 Cr
Prev close
₹2,119.80
52w High
₹2,348
52w Low
₹890
Enterprise value
₹4,709 Cr
Beta
1.5
Price CAGR 1y
70.0%
Price CAGR 3y
22.0%
Price CAGR 5y
—
Price CAGR 10y
—

Ratios

Return on assets
7.8%
PEG ratio
1.3
P/E ratio
42.8
P/B ratio
6.6
EV / EBITDA
23.8
Industry P/E
24.9
ROCE
21.3%
ROCE 5y average
26.8%
ROE
17.0%
Debt / Equity
0.4
Interest coverage
4.3
Dividend yield
0.0%
ROE 3y average
20.0%
ROE last year
17.0%

Annual P&L

Annual revenue
₹1,167 Cr
Annual profit
₹102 Cr
Operating margin
16.0%
Net profit margin
8.7%
EBITDA margin
16.4%
Sales growth 3y
28.3%
Sales growth 5y
30.4%
Profit growth 3y
32.0%
Profit growth 5y
34.0%
EPS
₹49.2
Sales growth TTM
22.0%
Profit growth TTM
15.0%
Dividend payout
2.0%

Quarter P&L

Sales latest quarter
₹321 Cr
Profit latest quarter
₹26 Cr
YoY quarterly sales growth
16.0%
YoY quarterly profit growth
4.0%
OPM latest quarter
16.1%

Balance Sheet

Book Value
₹319
Face Value
₹10.0
Total debt
₹287 Cr
Total cash
₹29 Cr
Borrowings
₹287 Cr
Reserves / Equity
30.9

Cash Flow

Operating cash flow
₹112 Cr
Free cash flow
-₹76 Cr
FCF yield
-2.6%
Net cash flow
₹3 Cr

Shareholding

Promoter holding
48.4%
FII holding
2.6%
DII holding
17.8%
Public holding
31.1%

Peer comparison

CompanyPrice ₹P/EMkt cap ₹ CrDiv yield %Profit qtr ₹ CrProfit var %Sales qtr ₹ CrSales var %ROCE %
Welspun Corp2,648.6530.369,8690.181,047.9198.64,081.114.922.9
APL Apollo Tubes2,061.1046.557,2280.40263.110.95,606.78.431.8
Shyam Metalics1,067.0026.529,7830.42350.718.15,455.123.413.0
Ratnamani Metals2,485.5039.617,4210.40107.0-37.7971.6-15.617.9
Jindal Saw270.7026.517,3110.7190.8-75.44,452.39.010.4
Usha Martin504.2528.315,3670.73142.040.71,033.016.419.5
Godawari Power205.2516.913,8180.47222.42.71,750.532.320.5
Venus Pipes2,139.9542.64,4330.0426.46.7320.516.021.3
Median167.2022.69620.0014.328.3213.216.613.0

Competes with: APL Apollo Tubes Limited, Gallantt Ispat Limited, Godawari Power And Ispat limited, Jindal Saw Limited, Ratnamani Metals & Tubes Limited, Shyam Metalics and Energy Limited, Usha Martin Limited, Welspun Corp Limited

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Standalone · to 30 Jun 2026
Line itemJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales180191207224240229231258276292297302321
Expenses152157168179192188194217232244248253269
Material Cost190155201226196232
Change in Inventories-1830-5.94-31-1.14-24
Purchases of Stock-in-Trade000000
Employee Cost101213131316
Other Expenses343437404446
Operating Profit28353945484137424548494952
OPM %15181920201816161616161616
Other Income1020141543223
Exceptional items (within Other Income)000-0.650.190
Interest356888991010101011
Depreciation1344455556667
Profit before tax23273134373224323434343536
Tax %26262526252626272724252726
Net Profit17202325282418242526262626
EPS in Rs8.589.98111214128.82121213121213
Diluted EPS in Rs121213121213

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Standalone · to 31 Mar 2026
Line itemMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1191783093875528029591,1671,211
Expenses1101662753384836567919761,014
Material Cost748778
Change in Inventories-109-7.83
Purchases of Stock-in-Trade00
Employee Cost3850
Other Expenses113155
Operating Profit812354969146168191197
OPM %7711131318171616
Other Income223223111110
Exceptional items (within Other Income)0-0.46
Interest35671022344142
Depreciation2211212192426
Profit before tax56314360116125137139
Tax %2436242626262626
Net Profit442432448693102104
EPS in Rs4.294.7327212242454950
Diluted EPS in Rs4549
Dividend Payout %00002122

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years
—
5 years
30%
3 years
28%
TTM
22%

Compounded profit growth

10 years
—
5 years
34%
3 years
32%
TTM
15%

Stock price CAGR

10 years
—
5 years
—
3 years
22%
1 year
70%

Return on equity

10 years
—
5 years
20%
3 years
20%
Last year
17%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Standalone
Line itemMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital9991520202021
Reserves3831113302386511648
Borrowings2943386490149192287
Other Liabilities3848605595202285344
Total Liabilities791071382485077581,0081,300
Fixed Assets1012202160282310399
CWIP03071221267124
Investments00013331
Other Assets6992118218323461629776
Total Assets791071382485077581,0081,300

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Standalone
Line itemMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-7211-6095269112
Cash from Investing Activity-1-12-2-23-167-100-114-203
Cash from Financing Activity810-983169384794
Net Cash Flow-00-0-011-1023
Free Cash Flow-9-56-81-153-55-40-77

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Standalone
Line itemMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days6663536947817381
Inventory Days13010362108137143196183
Days Payable11796594561110137141
Cash Conversion Cycle807056133123114132124
Working Capital Days4628409975626259
ROCE %22533723282521

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Standalone · to 30 Jun 2026
Line itemSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters494949494848484848484848
FIIs6.604.814.275.105.254.315.814.934.253.972.712.63
DIIs7.258.2613131414151515171718
Public383834333334323232303131
No. of Shareholders38,97745,87547,06257,27350,83158,06558,84258,34460,83758,70057,31753,604

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year +61.9% (₹1,309.20 → ₹2,119.80)Brick size ₹112.79 (fixed)Bricks 13
₹1,000₹1,500₹2,000₹2,120Jan '26Jun '26
Price moved up one brickPrice moved down one brickLast close ₹2,119.80 on 8 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

exports as % of revenue

30.00pct

2026-06-30

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash

257inr_cr

2026-03-31

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-03-31

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.00cr

2026-03-31

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-03-31

FY revenue / permanent employees + workers, same basis (calc)

1,21,68,926inr

2026-03-31

volume growth %

7.00pct

2026-06-30

News

News and filings about Venus Pipes & Tubes Limited. Open one to see why it matters.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Competes with

Uses as raw material

  • hollow pipes / mother hollows
  • stainless steel coils/strips
  • stainless steel round bars

Depends on the price of

  • fuel
  • steel

Sells to

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector
Capital Goods
Industry
Iron & Steel Products
Classification
Capital Goods › Iron & Steel Products
ISIN
INE0JA001018

Plants

  • Dhaneti stainless-steel pipes and tubes manufacturing facility · Dhaneti / Bhuj-Bhachau Highway, Kutch, Gujarat

News impact

Big market events that reach Venus Pipes & Tubes Limited, and how the effect spreads.

Who it hits first

  • Welspun Corp, a maker of large steel pipes, saw its shares jump 4.3% to Rs 2810 after a subsidiary won its largest-ever order.
  • The win adds fresh work to Welspun's order book, though the pack does not disclose the order's value or buyer.
  • Sister Welspun companies share the brand but book none of this pipe revenue directly.

Who may gain

  • Welspun Corp holders, as the record order lifts revenue visibility for the pipe maker
  • Pipe-sector mood, since a largest-ever tender proves customer demand is strong

Along the supply chain

Downstream

Welspun supplies pipe buyers such as GAIL, ONGC, Indian Oil and HPCL, so the downstream gain is steadier pipe supply for energy and water projects, not a price change.

Upstream

No direct upstream pull is named in the pack - Welspun lists no steel suppliers here, so steel mills gain only if Welspun orders more coils and plates to execute the job.

Where demand moves

Business

Pipe buyers placed a record order with Welspun's unit, so factory work and billing flow to Welspun Corp; rival pipe makers get no volumes from this deal but may benefit later if tendering stays strong.

Capital

Investors bought Welspun Corp, pushing it 4.3% to Rs 2810 intraday; some sympathy money may drift to group shares and pipe peers, while the Welspun Group Master Trust bulk sale in Welspun Living leans the other way.

How it spreads across sectors

Construction

Welspun Enterprises shares the brand but wins no work, so the ripple here is sentiment-only.

Metals & Mining

A record pipe tender signals healthy steel-pipe demand, a mild positive for pipe makers even though Welspun took this deal.

When it plays out

Immediate

Welspun Corp extends its 4.3% pop as traders chase the record-order news over 1-7 days.

Medium term

Order execution and margin delivery over 1-6 months decide whether the gain sticks or fades.

Short term

Group shares and pipe peers drift on sympathy over 1-4 weeks while the market waits for order value details.

Who it hits first

  • Venus Pipes raises Rs 372 crore by selling about 22.27 lakh new shares at Rs 1,670 each to well-known investors; most of the money repays company loans, which cuts yearly interest cost and leaves the firm financially stronger. The stock jumped 9% to a 52-week high as the market cheered the backing.

Who may gain

  • Venus Pipes and its shareholders gain from lower debt and the confidence signal of star investors joining; its lending banks also gain as the loans get safer. Rival pipe makers get only a faint sentiment lift, with no change to their orders or profits.

Along the supply chain

Downstream

No impact on pipe buyers in oil, gas, chemicals and construction — Venus's prices, output and delivery schedules are unchanged by who owns its shares.

Upstream

No immediate change for steel suppliers — Venus buys the same inputs the day after as the day before. Over the medium term a debt-lighter Venus is a more reliable buyer of stainless-steel coils and billets.

Where demand moves

Business

No new product demand is created — this is a money-and-debt event, not an order event. Over time a stronger Venus may keep spending on capacity and keep buying stainless steel steadily, which mildly steadies its suppliers.

Capital

Fresh equity from famous investors pulls investor attention into small-cap pipes for a few sessions; no big money rotation across sectors is expected since the issue only reshuffles Venus's own funding.

How it spreads across sectors

Capital Goods

Mild positive sentiment for listed pipe makers as marquee money entering Venus reads as a vote of confidence in the pipes business; no earnings impact beyond Venus itself.

When it plays out

Immediate

Momentum trading continues for 1-7 days as the market digests the Rs 1,670 allotment price and the 9% pop; watch shareholder-approval timelines.

Medium term

Over 1-6 months lower interest cost should lift earnings if operating margins near 16% hold; sustained gains need proof that the freed-up balance sheet funds growth, not just repair.

Short term

Over 1-4 weeks the focus shifts to execution — shareholder vote, actual allotment, and how fast the Rs 372 crore repays debt — while new-share dilution weighs on per-share numbers.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Dividends

4 Sep 2026unspecified₹0.5
18 Nov 2025interim₹0.5
18 Sep 2025unspecified₹0.5
29 Nov 2024interim₹0.5
17 Sep 2024unspecified₹0.5
7 Nov 2023interim₹0.5
18 Sep 2023unspecified₹0.5
18 Nov 2022interim₹0.5

Splits, bonuses & buybacks

  • daily-prices repair: 8 rows from NSE's archive (replace 2, delete 1, insert 5), 2023-11-12..2026-02-01 (docs/flat_day_repair.md)1× · 12 Nov 2023

Bulk & block deals

DateWhoBought / soldSharesPrice
18 Sep 2026HRTI PRIVATE LIMITEDSELL1,07,225₹2,235.89
18 Sep 2026HRTI PRIVATE LIMITEDBUY55,023₹2,224.79

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.