Venus Pipes & Tubes Ltd - Stock Valuation and Financial Performance

BSE: 543528 | NSE: VENUSPIPES | Steel & Iron Products | Small Cap

Venus Pipes & Tubes Share Price

1,886.30 9.50 0.51%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Venus Pipes & Tubes

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Venus Pipes & Tubes stock performance -

mw4me loader
P/E Ratio (SA):
51.48
Market Cap:
3,828.5 Cr.
52-wk low:
679
52-wk high:
1,929.5

Is Venus Pipes & Tubes Ltd an attractive stock to invest in?

1. Is Venus Pipes & Tubes Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Venus Pipes & Tubes Ltd is a average quality company.

2. Is Venus Pipes & Tubes Ltd undervalued or overvalued?

The key valuation ratios of Venus Pipes & Tubes Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Venus Pipes & Tubes Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Venus Pipes & Tubes Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

10 Year X-Ray of Venus Pipes & Tubes:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Venus Pipes & Tubes Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 14.7%14.4%39.1%26.8%16.9%-
Value Creation
Index
0.10.01.80.90.2-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 119178309387552754
Sales YoY Gr.-49.7%74%25.1%42.8%-
Adj EPS 33.117.420.521.836.6
YoY Gr.-2.7%462.8%17.7%6.3%-
BVPS (₹) 9.312.430.584.4158.8188.3
Adj Net
Profit
3.94.122.831.244.174
Cash Flow from Ops. -6.72.411.3-609.9-
Debt/CF from Ops. -4.417.73.3-1.19.1-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales NANA45.9%42.8%
Adj EPS NANA91.7%6.3%
BVPSNANA133.8%88%
Share Price - - - 159.9%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
32.428.481.13719.621.1
Op. Profit
Mgn %
7.26.511.212.712.516.3
Net Profit
Mgn %
3.32.37.48.189.9
Debt to
Equity
2.42.60.90.50.3-
Working Cap
Days
015811815317186
Cash Conv.
Cycle
05941819336

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 45.91%

Net Profit is growing at healthy rate in last 3 years 91.65%

Debt to equity has declined versus last 3 years average to 0.28

Sales growth is good in last 4 quarters at 55.41%

Return on Equity has declined versus last 3 years average to 21.10%

Latest Financials - Venus Pipes & Tubes Ltd.

Standalone Consolidated
TTM EPS (₹) 36.6 -
TTM Sales (₹ Cr.) 754 -
BVPS (₹.) 188.3 -
Reserves (₹ Cr.) 362 -
P/BV 10.02 -
PE 51.48 -
From the Market
52 Week Low / High (₹) 679.00 / 1929.50
All Time Low / High (₹) 316.40 / 1929.50
Market Cap (₹ Cr.) 3,828
Equity (₹ Cr.) 20.3
Face Value (₹) 10
Industry PE 25.1

Management X-Ray of Venus Pipes & Tubes:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Venus Pipes & Tubes

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23
Sales119178309387552
Operating Expenses 110166275338483
Manufacturing Costs3451016
Material Costs102157261315445
Employee Cost 333610
Other Costs 334612
Operating Profit 812354969
Operating Profit Margin (%) 7.0%6.5%11.2%12.7%12.5%
Other Income 22322
Interest 356710
Depreciation 22112
Exceptional Items 00000
Profit Before Tax 56314360
Tax 1271115
Profit After Tax 44243244
PAT Margin (%) 3.2%2.3%7.6%8.2%8.0%
Adjusted EPS (₹)2.93.218.020.821.8
Dividend Payout Ratio (%)0%0%0%0%5%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 121640129322
Share Capital 9991520
Reserves 3831113302
Minority Interest00000
Debt2839335881
Long Term Debt1419181425
Short Term Debt1320154456
Trade Payables3241423874
Others Liabilities 711222438
Total Liabilities 79107138249516

Fixed Assets

Gross Block1216252868
Accumulated Depreciation24568
Net Fixed Assets1012202160
CWIP 0307122
Investments 00013
Inventories36444493167
Trade Receivables2231457470
Cash Equivalents 254726
Others Assets1011244568
Total Assets 79107138249516

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity -7211-6010
PBT 56314360
Adjustment 34568
Changes in Working Capital -13-7-24-97-39
Tax Paid -1-1-1-11-19
Cash Flow From Investing Activity -1-12-2-23-168
Capex -2-13-5-21-162
Net Investments 001-3-8
Others 10102
Cash Flow From Financing Activity 810-983168
Net Proceeds from Shares 00057150
Net Proceeds from Borrowing 00000
Interest Paid -2-3-4-5-8
Dividend Paid 0000-1
Others 1013-53127
Net Cash Flow 000011
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)30.829.0284.0937.619.62
ROCE (%)19.3721.9853.5737.0422.99
Asset Turnover Ratio1.51.912.5321.44
PAT to CFO Conversion(x)-1.750.50.46-1.880.23
Working Capital Days
Receivable Days6654455648
Inventory Days11183526586
Payable Days11786584746

Venus Pipes & Tubes Ltd Stock News

Venus Pipes & Tubes Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Venus Pipes & Tubes on 28-Mar-2024 16:01 is ₹1,886.3.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 16:01 the market cap of Venus Pipes & Tubes stood at ₹3,828.5.
The latest P/E ratio of Venus Pipes & Tubes as of 28-Mar-2024 16:01 is 51.48.
The latest P/B ratio of Venus Pipes & Tubes as of 28-Mar-2024 16:01 is 10.02.
The 52-week high of Venus Pipes & Tubes is ₹1,929.5 and the 52-week low is ₹679.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Venus Pipes & Tubes is ₹754.4 ( Cr.) .

About Venus Pipes & Tubes Ltd

The company was incorporated in 2015, as Venus Pipes & Tubes Private Limited, a private limited company under the Companies Act, 2013, pursuant to a certificate of incorporation issued by the Registrar of Companies, Gujarat, India (RoC) on February 17, 2015. Thereafter, the company was converted into a public limited company, and the name of the company was changed to Venus Pipes & Tubes Limited pursuant to a revised certificate of incorporation issued by RoC on September 16, 2021, recording the change of the Company’s name to ‘Venus Pipes & Tubes Limited’.

Venus Pipes & Tubes is one of the growing stainless steel pipes and tubes manufacturer and exporter in India having over six years of experience in manufacturing of stainless steel tubular products in two broad categories: (i) seamless tubes/pipes; and (ii) welded tubes/pipes, under which it is currently manufacturing five product lines, namely, (i) stainless steel high precision & heat exchanger tubes; (ii) stainless steel hydraulic & instrumentation tubes; (iii) stainless steel seamless pipes; (iv) stainless steel welded pipes; and (v) stainless steel box pipes (Products). Under its brand name ‘Venus’, it supply its Products for applications in diverse sectors including (i) chemicals, (ii) engineering; (iii) fertilizers; (iv) pharmaceuticals, (v) power, (vi) food processing;(vii) paper; and (viii) oil and gas.

The company has one manufacturing plant which is strategically located at Bhuj-Bhachau highway, Dhaneti (Kutch, Gujarat) (Manufacturing Facility) in close proximity, around 55 kilometers and 75 from the ports of Kandla and Mundra, respectively, that helps it in reducing its logistic costs on procurement of raw materials and imports and export of its Products. Its Manufacturing Facility has separate seamless and welded divisions with latest product-specific equipment and machineries including tube mills, pilger mills, draw benches, swaging machines, pipe straightening machines, TIG/MIG welding systems, plasma welding systems, etc.

Business area of the company

Venus Pipes & Tubes is a manufacturer and exporter of stainless steel pipes and tubes. The company is manufacturing stainless steel tube products in two broad categories - seamless tubes/pipes and welded tubes/pipes under which five categories of products are manufactured namely, stainless steel high precision & heat exchanger tubes, stainless steel hydraulic & instrumentation tubes, stainless steel seamless pipes, stainless steel welded pipes and stainless steel box pipes.

Awards, accreditations and recognition

  • 2016: The company’s manufacturing facilities at Dhaneti have been accredited with management system standards certificate for compliance with ISO 9001: 2015, ISO 14001:2015 requirements.
  • 2017: The company has been verified and recognized as material manufacturer according to AD 2000 - Merkblatt W0 by The TUV NORD Systems GmbH & Co. KG.
  • 2017: The company has been certified as quality-assurance system related to the material by The TUV NORD Systems GmbH & Co. KG.
  • 2018: The company has received approval for manufacturing of Carbon Steel, Alloy Steel, Stainless Steel Welded & Seamless Pipes up to 400 mm NB / Tubes up to 101.60 mm O.D. & U-Tubes under inspection of Indian Boiler Regulations – 1950 from the Office of the Director of Boiler, Gujarat.
  • 2018: The company’s manufacturing facilities at Dhaneti have been accredited with management system standards certificate for compliance with ISO 45001: 2018.

Major events and milestones

  • 2015: Incorporation of the Company.
  • 2015: Established manufacturing plant at Dhaneti, Bhuj-Bhachau highway, close to Mundar and Kandla Ports.
  • 2015: Commenced the production of stainless steel welded pipes, stainless steel high precision & heat exchanger tubes, stainless steel hydraulic & instrumentation tubes and stainless steel box pipes at its manufacturing plant located at Dhaneti, Kutch, Gujarat.
  • 2017: Addition of stainless steel seamless pipes to production line.
  • 2017: Started exporting stainless steel welded and stainless steel seamless pipes to countries in the European Union, Brazil, UK, Israel etc.
  • 2017: Registered company’s trademark under Class 6 of Trademarks Act in respect of “manufacturer of stainless steel and carbon steel pipes and fittings” which is valid till 2027.
  • 2021: Conversion from a private limited company to public limited company.
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