The shares of the prominent stainless steel manufacturer gained up to 5 percent after the company bagged a prestigious work order for Stainless Steel Seamless Boiler Tubes worth Rs 190 crore.
With a market capitalization of Rs 2,378.67 crore, the shares of Venus Pipes & Tubes Ltd were trading at Rs 1,167.90 per share, decreasing around 1.23 percent as compared to the previous closing price of Rs 1,182.50 apiece.
According to the company filing, Venus Pipes & Tubes Ltd received an LOI from one of India’s leading integrated power plant equipment manufacturers for Stainless Steel Seamless Boiler Tubes used in a series of Supercritical and Subcritical Thermal Power Projects worth Rs 190 crores (excluding GST), expected to be executed progressively during the next 12-15 months.
Financial & Operational Highlights
Looking forward to the company’s financial performance, revenue increased by 12 percent from Rs 207 crore in Q3FY24 to Rs 231 crore in Q3FY25, Further, during the same time frame, net profit decreased by 22 percent from Rs 23 crore to Rs 18 crore.
The company projects at least 10% revenue growth next quarter and over 20% CAGR by FY27. It aims to boost market share in seamless and welded pipes via geographic and sectoral expansion, while focusing on innovation and diversifying into high-grade stainless steel products and fittings to strengthen its market position.
Venus Pipes and Tubes exports to over 25 countries, including the UK, France, UAE, USA, Germany, and Brazil, showcasing a strong global presence. The company’s growth strategy focuses on increasing capacity, offering value-added products, and leveraging a strong dealership network to drive international expansion and strengthen its market position.
Venus Pipes & Tubes Limited is an India-based company. The Company is engaged in the manufacturing and exporting of stainless-steel pipes and tubes. The Company manufactures stainless steel tubular products in two broad categories: seamless tubes/pipes and welded tubes/pipes.
Written by Abhishek Singh
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