VPVenus Pipes & Tubes543528Quarterly results

Venus Pipes & Tubes Q2 FY27: all-time high revenue of INR 361.1 Cr, PAT flat at INR 26.0 Cr

Q2 FY27 revenue up 23.9% to an all-time high of INR 361.1 Cr, but PAT slipped 0.3% to INR 26.0 Cr as EBITDA margin fell to 14.3% from 16.3%.

By ScoutQuest · Thu 5 Nov 2026, 6:28 PM IST · 2 min read

Q2 FY27 Revenue

INR 361.1 Cr, up 23.9% year on year, all-time high

Q2 FY27 PAT

INR 26.0 Cr, slipped 0.3%

Q2 FY27 EBITDA Margin

14.3% from 16.3%; PAT margin 7.2% from 8.9%

Period

Q2 & H1 FY27

Positioning

Venus describes itself as among India's early movers in stainless steel pipes and tubes to expand beyond pipes into fittings and spooling, building an integrated piping solutions portfolio, with finished-product capacity of 48,000 MTPA, rou

📉 Q2 FY27 revenue reached an all-time high of INR 361.1 Cr, up 23.9% year on year, while EBITDA rose 9.1% to INR 51.7 Cr and profit after tax slipped 0.3% to INR 26.0 Cr. EBITDA margin fell to 14.3% from 16.3% and PAT margin to 7.2% from 8.9%; the company attributes part of the moderation to higher selling prices, which it says optically moderated reported margins, and to higher export freight and fuel costs.

🌍 For H1 FY27 the presentation prints revenue of INR 681.6 Cr (up 20.0%), EBITDA of INR 103.2 Cr (up 11.8%) and PAT of INR 52.4 Cr (up 3.1%), with EBITDA margin down to 15.1% from 16.3%. It states that welded and seamless pipe revenue each grew 20% year on year in Q2 FY27, domestic growth was 22%, and exports hit an all-time high of INR 147 crores, up more than 55% sequentially and 27% year on year.

📋 For the full FY26 year the deck prints revenue of INR 1,166.8 Cr, EBITDA of INR 190.6 Cr and PAT of INR 101.9 Cr, with EBITDA margin easing to 16.3% from 17.5% and PAT margin to 8.7% from 9.7%. It states the order book rose about 2.5 times to INR 450 Crores and exports about 13 times to INR 400 Crores, and puts current capacity at 48,000 MTPA against roughly 7x expansion since FY19.

🏭 Management states it commenced operations at its spooling solutions facility in October, ahead of schedule, and that conversion of a Rs. 185 crore data centre LOI into orders has begun with a first order worth Rs. 29 crore. The company says its focus remains on strengthening manufacturing capabilities, expanding into new growth segments and investing in capacities; with major capex largely complete, it expects healthy cash conversion and stronger free cash flow.

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