VENUS PIPES & TUBES LTD

Manufactures stainless steel pipes and tubes, both welded and seamless, sold to industrial customers in India and overseas. In Q3 FY26, the company reported record revenue of INR 296.7 cr (+28.3% YoY) with exports at 31.5% of the mix, while FY26 full-year revenue reached INR 1,166.8 cr. The order book stood at INR 470 cr versus under INR 350 cr a year earlier, and the power-sector pipeline through BHEL, NTPC and Adani is sized at INR 6,000+ cr over four to five years. Capacity expansions for seamless pipes and fittings have been commissioned, and a new pipe-spooling business is being set up with INR 70 cr of capex, anchored by an INR 185 cr letter of intent from a data centre customer. Materials, mainly stainless steel, are the dominant cost at 66.7% of FY26 revenue, followed by other operating expenses at 13.3% and employee cost at 4.3%.