Venus Pipes & Tubes Ltd. · NSE:VENUSPIPES
Venus Pipes & Tubes — Q2 FY27 Earnings Presentation
41 slides from Venus Pipes & Tubes's earnings presentation, Nov 5, 2026
Slide 1: Exchange intimation letter for Q2 FY27 investor presentation
Date: 05th November, 2026 To, Listing Department Department of Corporate Services National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, G Block, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Dalal Street, Bandra (East), Mumbai – 400 051 Mumbai – 400 001 Symbol: VENUSPIPES Scri
Slide 2: From Stainless-Steel Pipe Manufacturer to an Integrated Piping Solutions Partner
Venus Pipes & Tubes Limited From Stainless-Steel Pipe Manufacturer to an Integrated Piping Solutions Partner Q2 & H1 FY27 Investor Presentation – November 2026
Slide 3: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by Venus Pipes & Tubes Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any
Slide 4: Capex – Forward Integration into Pipe Spooling
Capex – Forward Integration into Pipe Spooling
Slide 5: Forward Integration into Pipe Spooling Backed by Anchor Customer
Forward Integration into Pipe Spooling Backed by Anchor Customer Order conversion of LOI from Data center Adding Spooling Capabilities Forward integration & customer begins Transitioning from Stainless Steel Pipes to Engineered Piping Solutions Moving Up the Value Chain Venus Pipes & Tubes Limited E
Slide 6: Moving up the Value Chain – Pipe Spooling
Moving up the Value Chain – Pipe Spooling Entering Pipe Spooling business – Extending capabilities from product manufacturing to engineered piping solutions Why Pipe Spooling ? Strategic Benefits Strong Customer Validation Higher Value Addition Leverages Existing Strength Significantly better Venus
Slide 7: Operational & Financial Highlights
Operational & Financial Highlights
Slide 8: Key Highlights
Key Highlights Q2 & H1 FY27 Financial Highlights - All time high revenues of INR 361.1 Cr in Q2 FY27 Revenue EBITDA PAT • Selling prices increased by >10% YoY Q2 FY27 and >5% sequentially, optically moderating reported EBITDA margins INR 361.1 Cr (+23.9% YoY) INR 51.7 Cr (+9.1% YoY) INR 26.0 Cr (-0.
Slide 9: Revenue Split across Segment – Q2 FY27
Revenue Split across Segment – Q2 FY27 Seamless Pipes Welded Pipes Fittings Others Total +20% +20% +33% +24% 197.6 135.8 8.9 18.7 361.1 164.1 113.3 291.5 14.1 Venus Pipes & Tubes Limited NA Q2FY26 Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27 Revenue Contribution (%) 0% 2% 5% 5% 39%
Slide 10: Revenue Split across Segment – H1 FY27
Revenue Split across Segment – H1 FY27 Seamless Pipes Welded Pipes Fittings Others Total +18% +20% +11% +20% 373.7 261.1 8.9 37.9 681.6 317.1 34.0 216.9 568.0 Venus Pipes & Tubes Limited NA H1FY26 H1FY27 H1FY26 H1FY27 H1FY26 H1FY27 H1FY26 H1FY27 H1FY26 H1FY27 Revenue Contribution (%) 0% 1% 6% 6% 38%
Slide 11: Revenue Split across Geographies – Q2 FY27
Revenue Split across Geographies – Q2 FY27 Domestic Exports Total +22% +27% +24% 213.9 147.2 361.1 175.9 115.6 291.5 Venus Pipes & Tubes Limited Q2FY26 Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27 Revenue Contribution (%) 40% 41% Q2FY26 Q2FY27 60% 59% Domestic Exports INR Cr unless specified 10
Slide 12: Revenue Split across Geographies – H1 FY27
Revenue Split across Geographies – H1 FY27 Domestic Exports Total +26% +10% +20% 440.7 240.9 681.6 218.8 349.2 568.0 Venus Pipes & Tubes Limited H1FY26 H1FY27 H1FY26 H1FY27 H1FY26 H1FY27 Revenue Contribution (%) 35% 39% H1FY26 H1FY27 61% 65% Domestic Exports INR Cr unless specified 11
Slide 13: Key Financial Highlights – Q2 & H1 FY27
Key Financial Highlights – Q2 & H1 FY27 Revenue EBITDA PAT +20% +12% +3% 681.6 103.2 50.8 52.4 92.3 568.0 +24% +9% 0% 361.1 Venus Pipes & Tubes Limited 47.4 51.7 26.1 26.0 291.5 Q2FY26 Q2FY27 H1FY26 H1FY27 Q2FY26 Q2FY27 H1FY26 H1FY27 Q2FY26 Q2FY27 H1FY26 H1FY27 EBITDA Margin PAT Margin • Selling pri
Slide 14: Profit & Loss Account
Profit & Loss Account Profit and Loss Statement Q2FY27 Q2FY26 YoY H1FY27 H1FY26 YoY Revenue from Operations 361.1 291.5 23.9% 681.6 568.0 20.0% Cost of Goods Sold 233.4 194.9 441.0 380.5 Gross Profit 127.7 96.6 32.2% 240.6 187.5 28.3% Employee Cost 16.9 12.6 32.7 24.3 Venus Pipes & Tubes Limited Oth
Slide 15: Balance Sheet
Balance Sheet Assets Sep-26 Mar-26 Equity & Liabilities Sep-26 Mar-26 Non - Current Assets 650.8 560.6 Total Equity 720.4 668.5 Property Plant & Equipment 562.6 396.1 Share Capital 20.7 20.7 Reserves & Surplus 699.7 647.8 Right-of-Use Assets 1.7 1.7 Non-Current Liabilities 173.0 112.1 CWIP 41.3 123.
Slide 16: Cash Flow Statement
Cash Flow Statement Particulars H1FY27 H1FY26 Net Profit Before Tax 70.3 68.1 Adjustments for: Non -Cash Items / Other Investment or Financial Items 37.1 28.1 Operating profit before working capital changes 107.4 96.2 Venus Pipes & Tubes Limited Changes in working capital -42.5 -42.9 Cash generated
Slide 17: From MD's Desk
From MD’s Desk Commenting on the Q2 & H1 FY27 performance of the company Mr. Arun Kothari, Managing Director for Venus Pipes & Tubes Limited said, “We are pleased to report a strong performance during the quarter, with revenue growth of 24%, reflecting the company's ability to sustain business momen
Slide 18: Company Overview
Company Overview vers PIPES AND TUBI
Slide 19: About Us
About US - Venus Pipes & Tubes Limited 80+ Clientele base out of Fortune 500 Companies in India 48,000 MT p.a. total installed capacity, along Mission Venus Pipes & Tubes Limited with Backward Integration of ~20,400 MT p.a. To provide quality and flawless service for dealing with customer / supplier
Slide 20: Building an Integrated Piping Solutions Platform
Building an Integrated Piping Solutions Platform C O M P A N Y ’ S E V O L U TI O N I N P I P I N G Venus Pipes & Tubes Limited Seamless & Welded Spooling & Fittings Pipes / Tubes Fabrication OUR CORE STRENGTH FORWARD INTEGRATION ADVANCING IN VALUE CHAIN One Integrated Piping Solutions Platform Seam
Slide 21: Diversified Product Range used across Industries
Diversified Product Range used across Industries Pipes & Tubes Fittings & Flanges Stainless Steel High Precision Stainless Steel Hydraulic and Stainless Steel Seamless and Heat Exchanger Tubes Instrumentation Tubes Pipes Venus Pipes & Tubes Limited Added Fittings & Flanges to portfolio, with an aim
Slide 22: Continuous Capacity Addition to Serve Growing Demand
Continuous Capacity Addition to Serve Growing Demand Capacity Addition for Finished Products (MTPA) 4x Welded Seamless 48,000 43,800 ~7x Capacity Expansion from FY19 to Current 38,400 38,400 27,600 Venus Pipes & Tubes Limited 27,600 24,000 24,000 10,800 10,800 12,000 9,300 6,900 20,400 7,200 7,200 8
Slide 23: Integrated State of Art Manufacturing Facility
Integrated State of Art Manufacturing Facility Venus Pipes & Tubes Limited ✓ Total land bank of 2,66,282 sq. mt., comprising existing manufacturing facilities and future expansion area ✓ Strategically located Manufacturing facility at Dhaneti (Kutch) within proximity of Kandla & Mundra ports ✓ Equip
Slide 24: Presence Across the Globe
Presence Across the Globe Strong Dealership Network Venus Pipes & Tubes Limited Quality Products Exports in More Dedicated Expansion than Team 30+ Countries ~67x 338 400 Exports Revenue 99 Geographical Expansion 6 15 40 30 (INR Cr) FY20 FY21 FY22 FY23 FY24 FY25 FY26 Revenue Contribution 3.4% 4.8% 10
Slide 25: End User Industry
End User Industry Traditional Sectors New Age Sectors Venus Pipes & Tubes Limited Chemical Engineering Fertilizers Heat Exchanger Data Centers Pharmaceuticals Power Food Processing Nuclear Solar Manufacturing Paper Oil & Gas Aerospace Automobiles Semi Conductors Presence across Industries with criti
Slide 26: Marquee Clientele
Marquee Clientele Venus Pipes & Tubes Limited 25 Logos Are The Property Of Their Respective Owners
Slide 27: Awards & Accolades
Awards & Accolades Calendar Certifications & Accreditations Years Our manufacturing facilities at Dhaneti have been accredited with 2016 management system standards certificate for compliance with ISO 9001: 2015 & ISO 14001:2015 requirements Our Company has been verified and recognized as material V
Slide 28: Board of Directors
Board of Directors Arun Kothari Jayantiram M Choudhary Megharam S Choudhary Dhruv M Patel Chairman & Managing Director Whole Time Director Whole Time Director Whole Time Director Venus Pipes & Tubes Limited Associated with the Company since Associated with the Company since its Associated with our C
Slide 29: Strong Management at Helm
Strong Management at Helm Arun Kothari Jayantiram M Choudhary Megharam S Choudhary Dhruv M Patel Chairman & Managing Director Whole Time Director Whole Time Director Whole Time Director Associated with the Company since Associated with the Company since its Associated with our Company since its Asso
Slide 30: Vision & Way Forward
Vision & Way Forward Vision Way Forward Become an end-to-end integrated piping solutions provider Making ourselves as first reference and preference in Venus Pipes & Tubes Limited stainless steel pipes and tubes manufacturer Enter new sectors with high growth potential Auto and other underpenetrated
Slide 31: Annexures
Annexures VeQuS PIPES AND TU!
Slide 32: Key Historical Financials
Key Historical Financials Revenue EBITDA PAT +34% 1167 +40% 191 102 +32% 168 93 959 86 146 802 Venus Pipes & Tubes Limited 552 44 387 69 32 49 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 EBITDA Margin (%) PAT Margin (%) 18.2% 17.5% 10.7% 16.3% 9.7% 8.2% 8.7% 12.7% 8.0%
Slide 33: Historical Profit & Loss Account
Historical Profit & Loss Account Profit and Loss FY26 FY25 FY24 FY23 FY22 CAGR Revenue from Operations 1,166.8 958.5 802.2 552.4 386.9 31.8% Cost of Goods Sold 770.5 639.5 575.3 444.6 315.0 Gross Profit 396.3 319.0 226.9 107.8 71.9 53.2% Employee Cost 50.4 38.0 22.4 10.2 6.2 Venus Pipes & Tubes Limi
Slide 34: Historical Balance Sheet
Historical Balance Sheet Assets Mar-26 Mar-25 Mar-24 Mar-23 Mar-22 Equity & Liabilities Mar-26 Mar-25 Mar-24 Mar-23 Mar-22 Non - Current Assets 560.6 395.7 302.2 206.6 30.4 Total Equity 668.5 531.4 406.1 322.2 128.5 Property Plant & Equipment 396.1 308.8 281.0 59.8 21.3 Share Capital 20.7 20.4 20.3
Slide 35: Historical Abridged Cash Flow Statement
Historical Abridged Cash Flow Statement Particulars FY26 FY25 FY24 FY23 FY22 Net Profit Before Tax 137.3 125.4 115.6 59.7 42.9 Adjustments for: Non -Cash Items / Other Investment or Financial 59.0 44.4 29.7 7.1 5.6 Items Operating profit before working capital changes 196.3 169.8 145.3 66.8 48.5 Ven
Slide 36: Key Return Ratios
Key Return Ratios RoE* Debt / Equity Ratio ROCE^ Venus Pipes & Tubes Limited 25.0% 0.5 34.7% 0.5 31.0% 32.0% 30.7% 21.0% 21.0% 19.0% 27.0% 17.0% 0.4 0.4 0.3 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 ROE = PAT / Shareholder’s Equity D/E = Total Debt / Shareholder’s Eq
Slide 37: Inventory Days Stable Despite Significant Scale-Up in Business Operations
Inventory Days Stable Despite Significant Scale-Up in Business Operations Inventory & Inventory Days Movement from FY23 to FY26… Inventory days remain stable despite rising inventory → Rise in inventory is proportional to the growth in Business Operations 110 103 131 121 Days Days Days Days Strong O
Slide 38: Operation Stabilization post Capex Driving Better Cash Conversion
Operation Stabilization post Capex Driving Better Cash Conversion EBITDA Cashflow From Operations Cash Conversion Ratio +176% 59% +1,144% 191 168 112 146 41% 36% 69 Venus Pipes & Tubes Limited 52 69 13% 9 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 Improving Cash Conversion Ratio… ✓
Slide 39: CSR Initiatives
CSR Initiatives Installed 200 LPH RO water purification systems at Kumar Shala and Donated computer systems to an institution in Bhuj supporting Venus Pipes & Tubes Limited Kanya Shala in Dhaneti village Divyang children Distributed sets of school dresses and sweatshirts to students of Kumar Provide
Slide 40: Sustainability Initiatives
Sustainability Initiatives Hazardous Waste Management through Co-processing - We ensure that 98% of hazardous waste is disposed of through co-processing in the cement industry in line with EPR guidelines, while only 2% is sent to landfill disposal ARP (Acid Regeneration Plant) With the implementatio
Slide 41: Thankyou
Thankyou For further Information, please connect : Venus Pipes & Tubes Limited Strategic Growth Advisors Private Limited CIN: L24311GJ2015PLC082306 CIN: U74140MH2010PTC204285 cs@venuspipes.com Mr. Sagar Shroff / Mr. Ayush Haria sagar.shroff@sgapl.net / ayush.haria@sgapl.net For more information visi