Venus Pipes & Tubes Limited filed a regulatory disclosure with the National Stock Exchange of India Limited and BSE Limited containing unaudited financial results for Q2 FY27 and H1 FY27 ended September 30, 2026.

Financial Performance Highlights

Quarterly Results (Q2 FY27 vs Q2 FY26):

  • Revenue: ₹361.1 Cr (up 23.9% from ₹291.5 Cr)
  • EBITDA: ₹51.7 Cr (up 9.1% from ₹47.4 Cr)
  • EBITDA Margins: 14.3% (down from 16.3%)
  • PAT: ₹26.0 Cr (slight decrease of -0.3% from ₹26.1 Cr)
  • PAT Margins: 7.2% (down from 8.9%)

Half-Yearly Results (H1 FY27 vs H1 FY26):

  • Revenue: ₹681.6 Cr (up 20.0% from ₹568.0 Cr)
  • EBITDA: ₹103.2 Cr (up 11.8% from ₹92.3 Cr)
  • EBITDA Margins: 15.1% (down from 16.3%)
  • PAT: ₹52.4 Cr (up 3.1% from ₹50.8 Cr)
  • PAT Margins: 7.7% (down from 8.9%)

Margin Analysis

The company attributed margin compression to selling price increases (>10% YoY and >5% sequentially) and higher export freight and fuel costs. Excluding price increases, Q2 FY27 EBITDA margin would have been approximately 15.5%. Further excluding freight and fuel cost increases, EBITDA margins would have exceeded 16%.

Operational Highlights

  • Welded Pipes/Tubes and Seamless Pipes/Tubes both witnessed strong growth of 20% each for Q2 FY27 YoY
  • Domestic growth stood at 22% with strong demand from end user industries
  • Exports reached all-time high of ₹147 Cr, growing >55% sequentially and 27% YoY
  • Commenced operations of spooling solutions facility in October 2026
  • Converted LOI into orders, beginning with ₹29 Cr order from data center customer

Management Commentary

Arun Kothari, Managing Director, commented that the company sustained business momentum despite geopolitical challenges. Demand remains broad-based across traditional sectors (power, engineering, oil & gas) and emerging segments (CNG station infrastructure, semiconductors, solar power). The company is progressing toward becoming a one-stop manufacturing solutions provider with improving capacity utilization and increasing acceptance of value-added products.

Business Strategy

Focus remains on strengthening manufacturing capabilities, expanding presence across new growth segments, and converting opportunities into sustainable business growth. The company will continue to invest proactively in capacities and capabilities for next phase of growth.