Venus Pipes & Tubes Limited , a leading manufacturer of stainless steel pipes and tubes, has reported a strong performance in the first quarter, with record revenue and significant export growth.

Record Revenue and Export Growth

The company achieved an all-time high quarterly revenue of Rs. 276.40 crores, marking a 15% year-on-year increase from Rs. 240.10 crores in the same period last year. This growth was primarily driven by a surge in exports, which increased by 69% to Rs. 103.10 crores.

Financial Performance

Despite the revenue growth, Venus Pipes & Tubes experienced a slight decline in profitability:

• EBITDA decreased to Rs. 44.90 crores from Rs. 47.90 crores in the previous year, with margins at 16.2%.
• Profit After Tax (PAT) reduced to Rs. 24.80 crores from Rs. 27.50 crores.

Strong Order Book and New Contracts

The company maintains a healthy order book of Rs. 560.00 crores, indicating robust demand for its products. Notably, Venus Pipes & Tubes secured a significant order worth Rs. 190.00-200.00 crores from an Indian power equipment manufacturer, strengthening its position in the domestic market.

Upgraded Growth Guidance

Encouraged by the strong performance and positive outlook, the management has upgraded its revenue growth guidance to 25% from the previous 20%.

Capacity Expansion and Value Addition

Venus Pipes & Tubes is investing Rs. 175.00 crores in capacity expansion, with Rs. 120.00 crores planned for the current fiscal year. This includes:

• A new fittings plant, expected to be operational by Q4
• Expansion of seamless pipe capacity
• Installation of piercing lines for backward integration

These investments aim to enhance the company's product portfolio and increase its competitiveness in both domestic and international markets.

Export Market Challenges and Opportunities

While the company faces challenges such as U.S. tariff increases from 25% to 50% and pressure on welded pipe realizations, it is actively diversifying its export markets. The management remains cautious about the U.S. market developments but is optimistic about opportunities in Europe, the Middle East, and other regions.

Domestic Market Outlook

Venus Pipes & Tubes sees strong growth potential in the domestic stainless steel pipes and tubes market, supported by:

• Ongoing shift from the unorganized to organized sector
• Revival in CAPEX by end-user industries
• Increasing demand from the power sector

Management Commentary

Arun Kothari, Managing Director of Venus Pipes & Tubes, commented on the results: "Achieving this milestone despite a challenging global backdrop is a strong reflection of our enduring customer relationships, the trust in our product quality, and the relentless commitment of our entire team."

The company remains focused on delivering high-quality products, nurturing customer trust, and creating long-term value for all stakeholders.

Upcoming Investor Meetings

Venus Pipes & Tubes has announced that its officials will be participating in 1x1 and group meetings at the Nuvama Home Improvement Conference in Mumbai on August 25. These meetings will be based on publicly available information and will not involve sharing any unpublished price-sensitive information.

As Venus Pipes & Tubes continues to expand its capacity and diversify its product offerings, it is well-positioned to capitalize on the growing demand for stainless steel pipes and tubes in both domestic and international markets.

Venus Pipes & Tubes Limited , a leading manufacturer of stainless steel pipes and tubes in India, has announced an upward revision of its revenue growth forecast for FY26 and reported robust financial results for the first quarter of the fiscal year.

Revised Growth Forecast

The company has raised its revenue growth projection for FY26 from 20% to 25%, signaling increased confidence in its market position and growth strategies. Despite the upward revision in revenue expectations, Venus Pipes has maintained its EBITDA margin guidance at 16-18% for the same period, indicating a focus on sustaining profitability alongside growth.

Q1 FY26 Financial Highlights

Venus Pipes showcased a strong start to the fiscal year with its Q1 FY26 results:

• EBITDA margin stood at 16.2%
• Net profit margin was 9.0%

Segment Performance

The company's growth was driven by solid performance across its product segments:

• Seamless Pipes/Tubes revenue grew by 13% year-on-year
• Welded Pipes/Tubes revenue increased by 10% compared to the same quarter last year

Export Growth

Venus Pipes demonstrated significant traction in international markets:

• Export revenue surged by 69% to ₹103.1 crore compared to the same period last year
• Exports now constitute 37.3% of the company's total revenue, underlining its growing global presence

Management Commentary

Arun Kothari, Managing Director of Venus Pipes & Tubes Limited, commented on the results: "We are pleased to report a robust performance for the quarter, achieving an all-time high quarterly revenue of ₹276.4 crore, reflecting a growth of 15.1%. This achievement comes despite the prevailing global uncertainties surrounding trade tariffs and supply chain challenges."

Kothari added, "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."

Future Outlook

The company remains optimistic about its growth trajectory, supported by:

• A diversified market reach and strong customer relationships
• Encouraging momentum in demand from the power sector
• A healthy order book providing clear visibility for sustained growth
• Ongoing capacity expansion projects for fittings and seamless pipes, expected to commence operations from H2 FY26

Conclusion

Venus Pipes & Tubes Limited's upward revision of its revenue growth forecast, coupled with its strong Q1 FY26 performance, reflects the company's resilience and growth potential in the stainless steel pipes and tubes industry. The company's focus on export markets and capacity expansion initiatives positions it well to capitalize on emerging opportunities and navigate global economic challenges.

Investors and industry observers will be keenly watching Venus Pipes' performance in the coming quarters to see if the company can maintain its growth momentum and achieve its revised targets for FY26.