Buy Venus Pipes & Tubes, target price Rs 1,700: Anand Rathi

Anand Rathi has a buy call on Venus Pipes & Tubes with a target price of Rs 1,700. The current market price of Venus Pipes & Tubes is Rs 1299.9. The time period given by the analyst is a year when Venus Pipes & Tubes price can reach a defined target. Venus Pipes & Tubes, incorporated in 2015, is a Small Cap company with a market cap of Rs 2540.90 crore, operating in the General sector.

Venus Pipes & Tubes' key products/revenue segments include Pipes & Tubes and Other Operating Revenue for the year ending 31-Mar-2024.

Financials

For the quarter ended 31-12-2024, the company has reported a Standalone Total Income of Rs 232.27 crore, down -.14 % from last quarter Total Income of Rs 232.60 crore and up 11.07% from last year same quarter Total Income of Rs 209.12 crore. The company has reported net profit after tax of Rs 17.97 crore in the latest quarter.

The company's top management includes Mr.Arun Axaykumar Kothari, Mr.Dhruv Mahendrakumar Patel, Mr.Megharam Sagramji Choudhary, Mr.Jayantiram Motiram Choudhary, Mr.Shyam Agrawal, Mr.Kailash Nath Bhandari, Mr.Pranay Ashok Surana, Mrs.Komal Lokesh Khadaria. Company has Maheshwari & Co., as its auditors. As on 31-12-2024, the company has a total of 2 crore shares outstanding.

Investment Rationale
Venus Pipes & Tubes would continue its volume momentum; considering its focus on capacity expansion, backward integration and robust global presence, Anand rathi retains its Buy rating with a target price of Rs 1,700 (weighted average method). Risks are slowdown in domestic demand, exports and delay in capex timeline.

Promoter/FII Holdings
Promoters held 48.12 per cent stake in the company as of 31-Dec-2024, while FIIs owned 4.31 per cent, DIIs 14.05 per cent.