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Venus Pipes & Tubes Ltd. IPO Snapshot

About the Company:
Venus Pipes & Tubes Ltd. (VPTL) is engaged in the manufacturing and exports of stainless-steel pipes and tubes. VPTL is mainly engaged in manufacturing stainless steel tubular products in two broad categories – Seamless tubes/pipes and welded tubes/pipes. VPTL is currently manufacturing 5 product lines under these two categories (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”).

Brand “Venus” under VPTL supplies 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 & gas. The company has one manufacturing plant which is strategically located at Bhuj-Bhachau highway, Dhaneti (Kutch, Gujarat) having a capacity of 10800 MT/annum. Post completion of the expansion, its overall capacity will stand enhanced to 24000 MT/annum.

Particulars (Rs. Cr.) FY20 FY21 9 Months ending FY22
Total Revenue 179.32 312.03 278.28
Profit After Tax 4.13 23.63 23.60

Competitive Strengths:

  • International Presence, Accreditations and product approvals
  • Specialized production of Stainless-Steel Pipes and Tubes
  • Customer Diversification
  • Multi-fold demand of the Products
  • Experienced and Qualified Team

Risks & Concerns

  • Dependence and customer concentration on top ten (10) customers
  • High competition from other large and established competitors, reduced prices, operating margins, profits and further result in loss of market share
  • Inability to effectively utilize manufacturing capacities
  • Inability to raise additional capital for current and future expansion plans leading affecting business prospects
  • Adverse effects of pending outstanding litigations

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