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Consolidated Standalone

Venus Pipes & Tubes

₹2070.2 -27.9 | 1.3%

Market Cap ₹4202 Cr.

Stock P/E 48.9

P/B 10.3

Current Price ₹2070.2

Book Value ₹ 200.1

Face Value 10

52W High ₹2188

Dividend Yield 0%

52W Low ₹ 904.2

Edit Ratio

Venus Pipes & Tubes Research see more...

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Equity Research: Venus Pipes & Tubes Ltd.

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Venus Pipe Fundamental Analysis: Paving the Way to Success

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A detailed analysis on Venus Pipes & Tubes Ltd.

Overview Inc. Year: 2015Industry: Steel & Iron Products

Venus Pipes & Tubes Ltd is a leading manufacturer and exporter of stainless steel pipes and tubes, as well as other related products like stainless steel fittings, flanges, and valves. Established in 1971, the company has since grown to become one of India's premier stainless steel tube manufacturers, with a wide range of products catering to diverse industries like oil and gas, petrochemicals, power, water treatment, and more. Venus Pipes & Tubes Ltd has state-of-the-art manufacturing facilities, including a modern tube mill with an in-house cold drawing facility, and a well-equipped quality control laboratory to ensure the highest standards of quality. The company is also committed to sustainability, with a focus on eco-friendly manufacturing processes and responsible sourcing of raw materials.

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Venus Pipes & Tubes Share Price

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Peer Comparison

Venus Pipes & Tubes Quarterly Results

#(Fig in Cr.) Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Net Sales 106 110 114 126 136 176 180 191 207 224
Other Income 0 1 1 1 0 1 1 0 2 0
Total Income 106 111 114 127 136 177 180 192 209 224
Total Expenditure 93 96 99 111 119 155 152 157 168 179
Operating Profit 13 14 15 16 18 22 28 35 41 45
Interest 2 3 3 2 2 3 3 5 6 8
Depreciation 0 0 0 0 1 1 1 3 4 4
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 11 11 12 14 15 19 23 27 31 34
Provision for Tax 3 3 3 4 4 5 6 7 8 9
Profit After Tax 8 8 9 10 11 13 17 20 23 25
Adjustments 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 8 8 9 10 11 13 17 20 23 25
Adjusted Earnings Per Share 5.2 5.3 4.5 5.1 5.6 6.6 8.6 10 11.5 12.3

Venus Pipes & Tubes Profit & Loss

#(Fig in Cr.) Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 119 178 309 387 552 802
Other Income 2 2 3 2 2 3
Total Income 121 179 312 389 555 805
Total Expenditure 110 166 275 338 483 656
Operating Profit 10 13 37 51 71 149
Interest 3 5 6 7 10 22
Depreciation 2 2 1 1 2 12
Exceptional Income / Expenses 0 0 0 0 0 0
Profit Before Tax 5 6 31 43 60 115
Provision for Tax 1 2 7 11 15 30
Profit After Tax 4 4 24 32 44 85
Adjustments 0 0 0 0 0 0
Profit After Adjustments 4 4 24 32 44 85
Adjusted Earnings Per Share 2.9 3.2 18 20.8 21.8 42.4

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 43% 46% 0% 0%
Operating Profit CAGR 39% 76% 0% 0%
PAT CAGR 38% 122% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 127% NA% NA% NA%
ROE Average 20% 47% 40% 40%
ROCE Average 23% 38% 31% 31%

Venus Pipes & Tubes Balance Sheet

#(Fig in Cr.) Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 12 16 40 129 322
Minority's Interest 0 0 0 0 0
Borrowings 14 19 18 14 25
Other Non-Current Liabilities 0 1 1 1 2
Total Current Liabilities 52 71 78 105 167
Total Liabilities 79 107 138 249 516
Fixed Assets 10 12 20 21 60
Other Non-Current Assets 0 5 1 9 124
Total Current Assets 69 90 117 219 332
Total Assets 79 107 138 249 516

Venus Pipes & Tubes Cash Flow

#(Fig in Cr.) Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 1 0 0 0 0
Cash Flow from Operating Activities -7 2 11 -60 10
Cash Flow from Investing Activities -1 -12 -2 -23 -168
Cash Flow from Financing Activities 8 10 -9 83 168
Net Cash Inflow / Outflow -0 0 -0 -0 11
Closing Cash & Cash Equivalent 0 0 0 0 11

Venus Pipes & Tubes Ratios

# Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 2.86 3.15 18.04 20.8 21.78
CEPS(Rs) 4.38 4.76 18.78 21.74 22.75
DPS(Rs) 0 0 0 0 1
Book NAV/Share(Rs) 9.29 12.42 30.48 84.44 158.75
Core EBITDA Margin(%) 6.99 6.54 11.24 12.72 12.51
EBIT Margin(%) 6.78 6.21 11.8 12.9 12.59
Pre Tax Margin(%) 4.16 3.65 10.01 11.08 10.8
PAT Margin (%) 3.16 2.32 7.64 8.18 8
Cash Profit Margin (%) 4.84 3.51 7.95 8.55 8.36
ROA(%) 4.74 4.43 19.3 16.37 11.56
ROE(%) 30.8 29.02 84.09 37.6 19.62
ROCE(%) 19.37 21.98 53.57 37.04 22.99
Receivable days 66.48 53.76 44.73 55.93 47.58
Inventory Days 111.16 82.57 52.19 64.92 86.03
Payable days 116.56 85.74 58.43 46.85 46.21
PER(x) 0 0 0 0 34.37
Price/Book(x) 0 0 0 0 4.72
Dividend Yield(%) 0 0 0 0 0.13
EV/Net Sales(x) 0.31 0.26 0.14 0.18 2.87
EV/Core EBITDA(x) 3.62 3.5 1.11 1.39 22.15
Net Sales Growth(%) 0 49.73 73.97 25.09 42.76
EBIT Growth(%) 0 37.05 230.69 36.76 39.24
PAT Growth(%) 0 10.08 472.48 34 39.6
EPS Growth(%) 0 10.08 472.48 15.32 4.7
Debt/Equity(x) 2.42 2.62 0.94 0.5 0.28
Current Ratio(x) 1.32 1.27 1.49 2.08 1.99
Quick Ratio(x) 0.63 0.64 0.93 1.19 0.99
Interest Cover(x) 2.59 2.42 6.57 7.08 7.06
Total Debt/Mcap(x) 0 0 0 0 0.06

Venus Pipes & Tubes Shareholding Pattern

# Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 48.2 48.2 48.2 48.2 48.2 48.63 48.68 48.68
FII 2.21 0.67 5.8 5.76 6.49 6.6 4.81 4.27
DII 7.14 7.16 8.63 8.65 8.73 7.24 8.25 13.02
Public 42.45 43.98 37.37 37.39 36.58 37.53 38.26 34.04
Others 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 47%
  • Debtor days have improved from 46.85 to 46.21days.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 48.68%.
  • Stock is trading at 10.3 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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