Venus Pipes rises after Q1 PAT rises over 58% YoY

Venus Pipes & Tubes gained 1.28% to Rs 2229.75 after the company reported 58% jump in net profit to Rs 27.5 crore on a 33.7% increase in revenue from operations to Rs 240.1 crore in Q1 FY25 over Q1 FY24.

EBITDA improved by 73.6% YoY to Rs 47.9 crore in the first quarter. EBITDA margin was 20% in Q1 FY24 as against 15.4% in Q1 FY23.

Profit before tax in Q1 FY25 stood at Rs 27.5 crore, up by 58% from Rs 17.4 crore posted in Q1 FY24.

Arun Kothari, managing director for Venus Pipes & Tubes, said: We are proud to have started FY25 with a strong quarter, showcasing exceptional performance.

 

During this quarter, our export performance has been exceptionally strong, with revenues increasing by an impressive 691% year-on-year, reaching Rs 60.9 crores and contributing 25% of our total revenues, up from 4% in Q1FY24. Sequentially, we have achieved significant growth of 123%.

We are experiencing strong momentum not only in our key market of Europe but also seeing substantial traction in the US and Middle East markets. Moving forward, we have a robust order book from these regions and expect this export momentum to continue.

Furthermore, our high-margin seamless pipes segment continues its steady growth trajectory with a 22% increase in revenue. The welded pipes segment also experienced a substantial growth of 55%, fueled by strong order inflows from the oil & gas sector, where we see vast potential for further expansion.

Our order book stands strong, with orders pouring in from a diverse set of industries, predominantly from oil & gas, pharma, engineering, power and other sectors."

Venus Pipes & Tubes manufactures and exports stainless-steel pipes and tubes, offering seamless and welded products in five categories. Their market extends to over 20 countries, including Brazil, the UK, Israel, and various European Union nations.

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