Venus Pipes & Tubes Ltd
VENUSPIPESVenus Pipes & Tubes Ltd's earnings have outrun its stock. EPS grew +8.2% in a year against a +5.2% price move.
The sharpest disagreement: Foreign institutions moved −2.5 points over 8 quarters while the operating story went the other way — someone close to the numbers is not convinced.
The price is in a confirmed uptrend (8 weeks in) while the P/E sits at the 49th percentile of its own 4-year range. Underneath, the last four quarters read improving — profit +8.3% year on year, and 83% of the last 3 years' profit arrived as cash. What settles it: whether the register turns back in the story’s favour.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Venus Pipes & Tubes Ltd trades at ₹1,710, in a confirmed uptrend and 8 weeks into that stage. That is +25.7% against its own 200-day average. It sits at 89% of a 52-week range of ₹937 to ₹1,811. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 21 straight weeks.
Today the stock is in a confirmed uptrend — week 8 of stage 2, confirmed. At ₹1,710 it trades +25.7% versus its 200-day average and sits at 89% of its 52-week range (₹937–₹1,811).
Against the market, two honest reads. Cumulative: over the last 4.1 years the stock moved +411% while the NIFTY 500 moved +66% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 21 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 49th percentile of its own range.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Venus Pipes & Tubes Ltd trades at 34.4× P/E, mid-range by its own standards (49th percentile). Its long-run median P/E is 34.6×, measured across 4.2 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 34.4× is mid-range by its own standards (49th percentile), against a long-run median of 34.6× measured over 4.2 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved +8.2% against a +5.2% price move — earnings outran the price, pushing the multiple DOWN its own range.
The price move, decomposed: over 3y, of the +13.0%/yr price move, ~+31.3%/yr came from earnings growth and ~−18.3 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.
→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.
Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Venus Pipes & Tubes Ltd reads as mixed on its fundamental arc. Mixed — no clean majority across the growth curves, ROCE slipping at 26.1% — the per-curve reads carry the story. The read is built from 12 quarters across 4 curves, on full evidence.
Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +21.7% | +28.3% | +30.4% | — |
| Profit | +9.7% | +32.3% | +33.6% | — |
| EPS | +8.2% | +31.2% | +12.7% | — |
| Share price | +5.2% | +13.0% | — | — |
→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.
4-Factor Sector Score
58.6/100 — rank 4 of 15 in Steel - Tubes/Pipes · 96% evidence confidence
Venus Pipes & Tubes Ltd scores 58.6 out of 100 against the 15 companies it is compared with in Steel - Tubes/Pipes, ranking 4. Price leads the evidence: RS versus the benchmark is 31.6%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
The four contributions add to the total exactly: 15.6 + 19.2 + 5.7 + 18.1 = 58.6. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Venus Pipes & Tubes Ltd reported ₹302 Cr of revenue in the Mar 26 quarter, +17.1% year on year. That is the 12th straight quarter of year-on-year growth. Over 7 years it has compounded at 38.6% a year. The last full year, FY26, came in at ₹1,167 Cr. The last four reported quarters add to ₹1,167 Cr.
Venus Pipes & Tubes Ltd reported ₹302 Cr of revenue in the Mar 26 quarter, +17.1% year on year. That is the 12th straight quarter of year-on-year growth. Over 7 years it has compounded at 38.6% a year. The last full year, FY26, came in at ₹1,167 Cr. The last four reported quarters add to ₹1,167 Cr.
FY26 revenue came in at ₹1,167 Cr (+21.7% on the year), capping 7 years at 38.6% compound. The latest quarter (Mar 26) printed ₹302 Cr, +17.1% year on year — the 12th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +22.0% growth against the decade's 38.6% — the current year is running slower than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +21.8% over the last 4 quarters against +20.6%/yr over the last 8 — stabilising; TTM profit +9.6% vs +10.1%/yr — stabilising.
→ Revenue grew — did margins hold as it scaled? Next: 16.0% this quarter (+0.0 pp YoY).
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Venus Pipes & Tubes Ltd's operating margin is 16.0% in the Mar 26 quarter, +0.0 percentage points against the same quarter a year ago. Across 8 fiscal years the operating margin has ranged 7.0% to 18.0%. The current quarter sits inside that band.
Venus Pipes & Tubes Ltd's operating margin is 16.0% in the Mar 26 quarter, +0.0 percentage points against the same quarter a year ago. Across 8 fiscal years the operating margin has ranged 7.0% to 18.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 16.0%, +0.0 pp against the same quarter a year ago. Across 8 fiscal years the operating margin has ranged 7.0%–18.0%.
Why the margin moved: operating margin went +0.2 pp year on year while gross margin went +2.1 pp — the gain came mostly from the gross line: input costs and pricing.
→ Margins held — did that reach the bottom line? Next: profit +8.3% in the latest quarter.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Venus Pipes & Tubes Ltd earned ₹26.0 Cr of net profit in the Mar 26 quarter, +8.3% year on year. It is the 3rd consecutive quarter of growth. Full-year FY26 profit was ₹102 Cr. The 7-year compound rate is 58.8%. That is 8.6% of the quarter's revenue. The same quarter a year earlier earned ₹24.0 Cr.
Venus Pipes & Tubes Ltd earned ₹26.0 Cr of net profit in the Mar 26 quarter, +8.3% year on year. It is the 3rd consecutive quarter of growth. Full-year FY26 profit was ₹102 Cr. The 7-year compound rate is 58.8%. That is 8.6% of the quarter's revenue. The same quarter a year earlier earned ₹24.0 Cr.
Mar 26 profit was ₹26.0 Cr, +8.3% year on year — the 3rd consecutive quarter of growth. On the full year, FY26 printed ₹102 Cr (+9.7%), and the 7-year compound rate is 58.8%.
Why profit moved: revenue contributed +17.1% and the margin +0.0 pp — the quarter was revenue-led, with the margin roughly flat.
Pace comparison, last four quarters: profit +12.6% vs revenue +22.0%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.
→ Profit rose — but did the cash follow? Next: 83% of the last 3 years' profit arrived as cash.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 83% of Venus Pipes & Tubes Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹112 Cr of operating cash against ₹102 Cr of profit. After ₹170 Cr of capital spending, ₹−58.0 Cr was left as free cash.
FY26: operating cash of ₹112 Cr against reported profit of ₹102 Cr, leaving free cash of ₹−58.0 Cr after ₹170 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 83% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 83%: the cash cycle stretched 68 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving.
Router verdict: the bigger cash user is investment — capital spending ran 7.2× depreciation over three years, so the next section's job is to check what that build-out is buying.
→ So follow the cash to where it goes. Next: ₹396 Cr of building over 3 years.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Venus Pipes & Tubes Ltd's cash conversion cycle runs 124 days in FY26, up from 56 days in FY21. Capital spending ran ₹396 Cr over the last 3 years. At FY26 sales of ₹1,167 Cr each day of that cycle holds about ₹3.2 Cr, so roughly ₹396 Cr sits inside the business at any moment.
FY26: debtors at 81 days, inventory at 183 days — roughly 6.0 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 124 days, looser than FY21's 56.
The full loop: cash goes out to suppliers and production on day 0; stock waits 183 days to sell; customers pay about 81 days after that; and suppliers themselves are paid at 141 days — netting out to the 124-day cycle.
In money terms: at FY26 sales of ₹1,167 Cr, each day of the cycle holds about ₹3.2 Cr — so the 124-day loop keeps roughly ₹396 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹396 Cr over the last 3 fiscal years against ₹55.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹124 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
→ Does all this activity actually earn its cost of capital? Next: ROCE is 22% and the ROIC − WACC spread is +2.1 pp.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Venus Pipes & Tubes Ltd earns a ROCE of 22% in FY26. That is up from a trough of 22% in FY20. Return on invested capital clears the cost of that capital by +2.1 percentage points, so growth here adds value rather than only size. The wiring behind it is 8.7% net margin on 0.90× asset turns.
FY26 ROCE is 22%, recovered from a FY20 trough of 22% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY26): 8.7% net margin × 0.90× asset turns × 1.94× balance-sheet leverage ≈ 15.2% on equity. Margin does its share; leverage is a meaningful part of the equation.
The capstone test — ROIC − WACC: 14.1% − 12.0% = a +2.1 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Positive but thin — value creation with little room for error.
→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.29.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.
Venus Pipes & Tubes Ltd carries total debt of ₹287 Cr against shareholder equity of ₹668 Cr as of Mar 26, a debt-to-equity of 0.43. On the annual view that ratio went from 0.50 in FY22 to 0.43 in FY26. Read the returns elsewhere on this page with that leverage in mind.
Mar 26: total debt of ₹287 Cr against shareholder equity of ₹668 Cr — a debt-to-equity of 0.43. On the annual view, debt-to-equity went from 0.50 (FY22) to 0.43 (FY26). Read the returns on this page with that leverage in mind.
→ Who owns this, and are they adding or leaving? Next: Domestic institutions added 4.6 points over 8 quarters.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Domestic institutions added 4.6 points of Venus Pipes & Tubes Ltd over 8 quarters, the biggest move on the register. That takes domestic institutions to 17.8% of the company. Foreign institutions moved −2.5 points over the same window, to 2.6%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Domestic institutions: +4.6 points over 8 quarters to 17.8%; Foreign institutions: −2.5 points over 8 quarters to 2.6%; Promoters: −0.3 points over 8 quarters to 48.4%.
Why the register moved: rotation — foreign institutions −2.5 points against domestic institutions +4.6 points over 8 quarters, with promoters holding steady — one class of institutions handing the register to the other, not a verdict change by the people closest to the numbers.
→ One last check: does the safety math agree? Next: the balance-sheet safety line.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Venus Pipes & Tubes Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | P/E | Mkt cap | Revenue | EPS | ROCE | Stage |
|---|---|---|---|---|---|---|
| Venus Pipes & Tubes Ltd this page | 34.4× | ₹3,522 Cr | Turning around | |||
| APL Apollo Tubes Ltd | 42.1× | ₹50,612 Cr | Mixed | |||
| Maharashtra Seamless Ltd | 10.9× | ₹7,658 Cr | Deteriorating | |||
| Surya Roshni Ltd | 18.1× | ₹5,179 Cr | Mixed | |||
| Goodluck India Ltd | 27.8× | ₹5,024 Cr | Mixed | |||
| DEE Development Engineers Ltd | 57.4× | ₹4,526 Cr | No read | |||
| Man Industries (India) Ltd | 23.2× | ₹3,956 Cr | Mixed | |||
| Sambhv Steel Tubes Ltd | 23.6× | ₹3,416 Cr | — | No read | ||
| Welspun Specialty Solutions Ltd | 119.0× | ₹3,399 Cr | No read | |||
| JTL Industries Ltd | 28.2× | ₹2,775 Cr | Turning around | |||
| Welspun Specialty Solutions Ltd | 112.0× | ₹2,469 Cr | No read | |||
| Hi-Tech Pipes Ltd | 22.6× | ₹1,722 Cr | Mixed | |||
| Hariom Pipe Industries Ltd | 16.0× | ₹1,213 Cr | No read | |||
| Gandhi Special Tubes Ltd | 18.2× | ₹1,055 Cr | Mixed | |||
| Scoda Tubes Ltd | 22.7× | ₹880 Cr | No read | |||
| Rama Steel Tubes Ltd | 55.4× | ₹697 Cr | Turning around |
Frequently asked questions
What is Venus Pipes & Tubes Ltd's share price today?
Venus Pipes & Tubes Ltd trades at ₹1,710, +5.2% over the past year. The company is valued at ₹3,522 Cr. The stock sits at 89% of its 52-week range of ₹937–₹1,811, +25.7% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 8 weeks in. — as of 24 July 2026.
What were Venus Pipes & Tubes Ltd's latest quarterly results?
Venus Pipes & Tubes Ltd reported revenue of ₹302 Cr and net profit of ₹26.0 Cr for the Mar 26 quarter. Revenue rose 17.1% and profit rose 8.3% year on year. Earnings per share were ₹12.31. The operating margin was 16.0%, 0.0 pp higher than a year earlier. — as of 24 July 2026.
What is Venus Pipes & Tubes Ltd's revenue?
Venus Pipes & Tubes Ltd reported revenue of ₹302 Cr in the Mar 26 quarter, +17.1% year on year. For the full FY26 fiscal year, revenue was ₹1,167 Cr (+21.7%). Over the last 7 years revenue compounded at 38.6% a year. — as of 24 July 2026.
What is Venus Pipes & Tubes Ltd's profit?
Venus Pipes & Tubes Ltd earned ₹26.0 Cr of net profit in the Mar 26 quarter, +8.3% year on year — the 3rd straight quarter of growth. Full-year FY26 profit was ₹102 Cr. The operating margin ran 16.0% in the latest quarter. — as of 24 July 2026.
What is Venus Pipes & Tubes Ltd's market cap?
Venus Pipes & Tubes Ltd's market capitalisation is ₹3,522 Cr at a share price of ₹1,710. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.
What is Venus Pipes & Tubes Ltd's P/E ratio?
Venus Pipes & Tubes Ltd trades at a P/E of 34.4×, at the 49th percentile of its own 4-year range, against a long-run median of 34.6×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.
Does Venus Pipes & Tubes Ltd pay a dividend?
Yes — Venus Pipes & Tubes Ltd's dividend payout was 1% of profit in FY26, and it recorded a payout in 4 of its last 8 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 24 July 2026.
Is Venus Pipes & Tubes Ltd overvalued?
On its own history, Venus Pipes & Tubes Ltd looks mid-range against its own history: its P/E of 34.4× sits at the 49th percentile of its 4-year range (long-run median 34.6×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 24 July 2026.
Is Venus Pipes & Tubes Ltd growing?
Yes — Venus Pipes & Tubes Ltd is growing: latest-quarter revenue +17.1% year on year, profit +8.3%, and the margin +0.0 pp at 16.0%. The 7-year compound rates are 38.6% (revenue) and 58.8% (profit). The earnings engine currently reads: improving — as of 24 July 2026.
How is Venus Pipes & Tubes Ltd performing?
Venus Pipes & Tubes Ltd is in a confirmed uptrend, 8 weeks in. Its latest quarter's revenue rose 17.1% and profit rose 8.3% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 21 weeks. This describes what the data did, not a rating. — as of 24 July 2026.
What stage is Venus Pipes & Tubes Ltd in?
Mixed — no clean majority across the growth curves, ROCE slipping at 26.1% — the per-curve reads carry the story. The read comes from the last 12 quarters of growth (revenue growth +21.8% latest, profit growth +9.6% latest, eps growth +8.3% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 24 July 2026.
Is Venus Pipes & Tubes Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 8 of stage 2), trading +25.7% versus its 200-day average and at 89% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.
Is Venus Pipes & Tubes Ltd beating the market?
On recent form, yes — Venus Pipes & Tubes Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 21 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 4.1 years the stock moved +411% against the NIFTY 500's +66% — ahead of the index over the full window. — as of 24 July 2026.
Will Venus Pipes & Tubes Ltd's share price go up?
This page publishes no price forecast for Venus Pipes & Tubes Ltd. What it measures instead: the share price is ₹1,710, the price is in a confirmed uptrend 8 weeks in. Its P/E of 34.4× sits at the 49th percentile of its own 4-year range. — as of 24 July 2026.
Who owns Venus Pipes & Tubes Ltd?
Promoters hold 48.4% of Venus Pipes & Tubes Ltd, foreign institutions 2.6%, domestic institutions 17.8% and the public 31.1% (latest quarter). The biggest move on the register over the last two years: Domestic institutions added 4.6 points over 8 quarters. — as of 24 July 2026.
Does Venus Pipes & Tubes Ltd have too much debt?
No — Venus Pipes & Tubes Ltd's debt-to-equity is 0.29, and operating profit covers the interest bill 5×. FY26 borrowings were ₹197 Cr against equity of ₹669 Cr. The returns on this page are earned, not borrowed — as of 24 July 2026.
What is Venus Pipes & Tubes Ltd's capex?
Venus Pipes & Tubes Ltd spent ₹396 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹170 Cr, with ₹124 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.
What is Venus Pipes & Tubes Ltd's cash flow?
Venus Pipes & Tubes Ltd generated ₹112 Cr of operating cash flow in FY26 and ₹−58.0 Cr of free cash flow after ₹170 Cr of capital spending. Reported profit that year was ₹102 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 24 July 2026.
Is Venus Pipes & Tubes Ltd's profit real cash?
Yes — over the last 3 fiscal years, 83% of Venus Pipes & Tubes Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹112 Cr against reported profit of ₹102 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 24 July 2026.
Where is Venus Pipes & Tubes Ltd in its business cycle?
Venus Pipes & Tubes Ltd's FY26 operating margin was 16.0%, against a 8-year band of 7.0%–18.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 16.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.
What could break the Venus Pipes & Tubes Ltd story?
The sharpest disagreement: Foreign institutions moved −2.5 points over 8 quarters while the operating story went the other way — someone close to the numbers is not convinced. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.
Is Venus Pipes & Tubes Ltd a stock worth studying right now?
This is not investment advice. The machine read: Venus Pipes & Tubes Ltd's earnings have outrun its stock. EPS grew +8.2% in a year against a +5.2% price move. The sharpest open question: whether the register turns back in the story’s favour. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.