India · Delayed Price · Currency is INR Venus Pipes and Tubes Earnings Call Transcripts
Fiscal Year 2026
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Revenue grew 19.5% to INR 958.5 crore in FY 2025, driven by strong export growth and a major INR 190 crore order. EBITDA margin stood at 17.5%, with guidance for 20%+ top-line growth and 16–18% margins in FY 2026–27. Order book remains robust at INR 575 crore.
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Q1 FY 2026 revenue hit a record INR 276.4 crore, up 15% year-over-year, led by 69% export growth and a robust order book of INR 560 crore. Margin guidance is maintained at 16–18%, with top-line growth guidance raised to at least 25% for FY 2026.
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Q3 FY 2026 saw record revenue and strong growth in both seamless and welded segments, with EBITDA and PAT margins improving year-over-year. New capacity additions and value-added products are set to drive over 20% revenue growth in FY 2027, with margins expected to reach 18% by FY 2028.
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Q2 FY26 saw record revenue of INR 291.5 crores, up 27% YoY, with exports rising 53% and strong domestic growth. EBITDA margin held at 16.3%, and the company maintains 25% revenue growth guidance for FY26, with new capacities and value-added products expected to boost margins in FY27.
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Record FY 2026 revenue and EBITDA growth achieved despite global headwinds, driven by strong domestic and export performance, capacity expansion, and entry into high-margin spooling solutions for data centers. FY 2027 guidance targets over 20% revenue growth and margin improvement.
Fiscal Year 2025
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Revenue grew 11.7% YoY in Q3 and 21.2% for nine months, led by record export growth and strong segment performance. Margins remain under pressure due to competitive pricing and higher costs, but new capacity and product launches are expected to drive future growth.
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Revenue grew 19.6% year-over-year in Q2 and 26.4% in H1 FY 2025, driven by 30% volume growth and robust exports now at 33% of revenue. EBITDA and PAT rose 17.5% and 16.7% respectively, with strong order book and ongoing capacity expansion supporting future growth.
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Record Q1 FY25 results with 34% revenue growth, 74% EBITDA growth, and 58% PAT growth, driven by strong export performance and robust welded and seamless pipe segments. Exports now contribute 25% of revenue, with continued expansion into U.S. and Middle East markets.