BSE: 543528 | NSE: VENUSPIPES | Steel & Iron Products | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Venus Pipes & Tubes Ltd is a average quality company.
The key valuation ratios of Venus Pipes & Tubes Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Venus Pipes & Tubes Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 19.4% | 22% | 53.6% | 37% | 23% | 28.5% | - |
| Value Creation Index ⓘ | 0.4 | 0.6 | 2.8 | 1.7 | 0.6 | 1.0 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||
| Sales ⓘ | 119 | 178 | 309 | 387 | 552 | 802 | 900 |
| Sales YoY Gr. | - | 49.7% | 74% | 25.1% | 42.8% | 45.2% | - |
| Adj EPS ⓘ | 3 | 3.1 | 17.4 | 20.5 | 21.8 | 41.5 | 48.9 |
| YoY Gr. | - | 2.7% | 462.8% | 17.7% | 6.3% | 90.9% | - |
| BVPS (₹) ⓘ | 9.3 | 12.4 | 30.5 | 84.4 | 158.8 | 200.1 | 237.2 |
| Adj Net Profit ⓘ | 3.9 | 4.1 | 22.8 | 31.2 | 44.1 | 84.3 | 100 |
| Cash Flow from Ops. ⓘ | -6.7 | 2.4 | 11.3 | -60 | 8.7 | 52.2 | - |
| Debt/CF from Ops. ⓘ | -4.4 | 17.7 | 3.3 | -1.1 | 10.4 | 2.9 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | 46.5% | 37.4% | 45.2% | ||||
| Adj EPS ⓘ | NA | 69% | 33.7% | 90.9% | ||||
| BVPSⓘ | NA | 84.8% | 87.2% | 26% | ||||
| Share Price | - | - | - | 16.1% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 32.4 | 28.4 | 81.1 | 37 | 19.6 | 23.1 | 22.4 |
| Op. Profit Mgn % ⓘ | 7.2 | 6.5 | 11.2 | 12.7 | 12.5 | 18.2 | 19.2 |
| Net Profit Mgn % ⓘ | 3.3 | 2.3 | 7.4 | 8.1 | 8 | 10.5 | 11.1 |
| Debt to Equity ⓘ | 2.4 | 2.6 | 0.9 | 0.5 | 0.3 | 0.4 | 0.1 |
| Working Cap Days ⓘ | 0 | 158 | 118 | 153 | 171 | 176 | 106 |
| Cash Conv. Cycle ⓘ | 0 | 59 | 41 | 81 | 93 | 77 | 34 |
Sales growth is growing at healthy rate in last 3 years 37.39%
Net Profit is growing at healthy rate in last 3 years 33.66%
Sales growth is good in last 4 quarters at 33.17%
Return on Equity has declined versus last 3 years average to 22.30%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 48.9 | - |
| TTM Sales (₹ Cr.) | 900 | - |
| BVPS (₹.) ⓘ | 237.2 | - |
| Reserves (₹ Cr.) ⓘ | 449 | - |
| P/BV ⓘ | 6.71 | - |
| PE ⓘ | 32.59 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 1296.20 / 2489.95 |
| All Time Low / High (₹) | 316.40 / 2489.95 |
| Market Cap (₹ Cr.) | 3,243 |
| Equity (₹ Cr.) | 20.4 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 22.2 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.52 | 0.00 | 0.00 |
| PARTICULARS | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|
| Sales | 119 | 178 | 309 | 387 | 552 | 802 |
| Operating Expenses ⓘ | 110 | 166 | 275 | 338 | 483 | 656 |
| Manufacturing Costs | 3 | 4 | 5 | 10 | 16 | 36 |
| Material Costs | 102 | 157 | 261 | 315 | 445 | 575 |
| Employee Cost | 3 | 3 | 3 | 6 | 10 | 22 |
| Other Costs ⓘ | 3 | 3 | 4 | 6 | 12 | 22 |
| Operating Profit ⓘ | 8 | 12 | 35 | 49 | 69 | 146 |
| Operating Profit Margin (%) | 7.0% | 6.5% | 11.2% | 12.7% | 12.5% | 18.2% |
| Other Income ⓘ | 2 | 2 | 3 | 2 | 2 | 3 |
| Interest ⓘ | 3 | 5 | 6 | 7 | 10 | 22 |
| Depreciation ⓘ | 2 | 2 | 1 | 1 | 2 | 12 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 5 | 6 | 31 | 43 | 60 | 116 |
| Tax ⓘ | 1 | 2 | 7 | 11 | 15 | 30 |
| Profit After Tax | 4 | 4 | 24 | 32 | 44 | 86 |
| PAT Margin (%) | 3.2% | 2.3% | 7.6% | 8.2% | 8.0% | 10.7% |
| Adjusted EPS (₹) | 2.9 | 3.2 | 18.0 | 20.8 | 21.8 | 42.4 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 5% | 2% |
| PARTICULARS | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 12 | 16 | 40 | 129 | 322 | 406 | ||||
| Share Capital ⓘ | 9 | 9 | 9 | 15 | 20 | 20 | ||||
| Reserves ⓘ | 3 | 8 | 31 | 113 | 302 | 386 | ||||
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Debt | 28 | 39 | 33 | 58 | 81 | 134 | ||||
| Long Term Debt | 14 | 19 | 18 | 14 | 25 | 34 | ||||
| Short Term Debt | 13 | 20 | 15 | 44 | 56 | 100 | ||||
| Trade Payables | 32 | 41 | 42 | 38 | 74 | 174 | ||||
| Others Liabilities ⓘ | 7 | 11 | 22 | 24 | 38 | 57 | ||||
| Total Liabilities ⓘ | 79 | 107 | 138 | 249 | 516 | 771 | ||||
Fixed Assets | ||||||||||
| Gross Block | 12 | 16 | 25 | 28 | 68 | 302 | ||||
| Accumulated Depreciation | 2 | 4 | 5 | 6 | 8 | 20 | ||||
| Net Fixed Assetsⓘ | 10 | 12 | 20 | 21 | 60 | 282 | ||||
| CWIP ⓘ | 0 | 3 | 0 | 7 | 122 | 12 | ||||
| Investmentsⓘ | 0 | 0 | 0 | 1 | 3 | 3 | ||||
| Inventories | 36 | 44 | 44 | 93 | 167 | 226 | ||||
| Trade Receivables | 22 | 31 | 45 | 74 | 70 | 177 | ||||
| Cash Equivalents | 2 | 5 | 4 | 7 | 26 | 8 | ||||
| Others Assetsⓘ | 10 | 11 | 24 | 45 | 68 | 64 | ||||
| Total Assets ⓘ | 79 | 107 | 138 | 249 | 516 | 771 | ||||
| PARTICULARS | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -7 | 2 | 11 | -60 | 9 | 52 |
| PBT ⓘ | 5 | 6 | 31 | 43 | 60 | 116 |
| Adjustment ⓘ | 3 | 4 | 5 | 6 | 7 | 30 |
| Changes in Working Capital ⓘ | -13 | -7 | -24 | -97 | -39 | -73 |
| Tax Paid ⓘ | -1 | -1 | -1 | -11 | -19 | -20 |
| Cash Flow From Investing Activity ⓘ | -1 | -12 | -2 | -23 | -167 | -100 |
| Capex | -2 | -13 | -5 | -21 | -162 | -107 |
| Net Investments | 0 | 0 | 1 | -3 | -8 | 7 |
| Others ⓘ | 1 | 0 | 1 | 0 | 2 | 0 |
| Cash Flow From Financing Activityⓘ | 8 | 10 | -9 | 83 | 169 | 38 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 57 | 150 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 14 | 15 |
| Interest Paid ⓘ | -2 | -3 | -4 | -5 | -7 | -19 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | -1 | -2 |
| Others ⓘ | 10 | 13 | -5 | 31 | 12 | 44 |
| Net Cash Flow ⓘ | 0 | 0 | 0 | 0 | 11 | -10 |
| PARTICULARS | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 30.8 | 29.02 | 84.09 | 37.6 | 19.62 | 23.61 | ||||
| ROCE (%) | 19.37 | 21.98 | 53.57 | 37.04 | 22.99 | 28.45 | ||||
| Asset Turnover Ratio | 1.5 | 1.91 | 2.53 | 2 | 1.44 | 1.25 | ||||
| PAT to CFO Conversion(x) | -1.75 | 0.5 | 0.46 | -1.88 | 0.2 | 0.6 | Working Capital Days | |||
| Receivable Days | 66 | 54 | 45 | 56 | 48 | 56 | ||||
| Inventory Days | 111 | 83 | 52 | 65 | 86 | 89 | ||||
| Payable Days | 117 | 86 | 58 | 47 | 46 | 79 | ||||
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
Major events and milestones
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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