Venus Pipes & Tubes Limited has informed the Exchange about Investor Presentation
Date: 13/02/2025
To,
Listing Department Department of Corporate Services National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, G Block, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Dalal Street, Bandra (East), Mumbai – 400 051 Mumbai – 400 001 Symbol: VENUSPIPES Scrip Code: 543528 ISIN- INE0JA001018
Dear Sir/Madam,
Sub: Q3 FY25 Investor Presentation
With reference to above captioned subject, please find attached Q3 FY25 Investor Presentation.
The Presentation will be uploaded on the company’s website at www.venuspipes.com
Request you to kindly take the same on record.
Thanking You,
For Venus Pipes & Tubes Limited
CS Pavan Kumar Jain Company Secretary and Compliance Officer Membership No. A66752
VENUS PIPES & TUBES LIMITED
Investor Presentation February 2025
Safe Harbour
This presentation and the accompanying slides (the “Presentation”), which have been prepared by Venus Pipes & Tubes Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.
This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.
Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third-party statements and projections.
All Maps used in the presentation are not to scale. All data, information, and maps are provided "as is" without warranty or any representation of accuracy, timeliness or completeness
2
Venus Pipes & Tubes Limited
Vision Making ourselves as first reference and preference in stainless steel pipes and tubes manufacturer
Mission To provide quality and flawless service for dealing with customer / supplier and distributors
Core Values Working with the highest ethical standards in all aspects of our activities
70+
Clientele base out of Fortune 500 Companies in India
Exports to more than
25+ Countries
114%
PAT CAGR from FY20 to FY24
8.0%
Market Share for Seamless Pipes in FY24 compared to 1.6% in FY20
Total installed capacity of 38,400 MT p.a. & along with Backward Integration of ~14,400 MT p.a.
Diversified
End-user Industries
Manufacturer and Exporter of Stainless-Steel Tubes & Pipes in India
3
s t h g
i l
i
h g H y e K
Committed on being a leading manufacturer and provider of high-quality Stainless-steel pipes and tubes for demanding and challenging applications
Key Operational Highlights
Key Financial Highlights
✓ Strong export demand continued during the quarter, with exports rising by 153% YoY. Growth was driven by robust demand from the U.S. and Middle East & Africa market for welded pipes and tubes, while European demand continued to remain strong
✓ Market acceptance for our products continues to grow with wide range of offerings and superior quality of our products helping us secure key approvals from companies across sectors such as Oil & Gas, Power and Engineering
✓ The Phase 1 capex is progressing as follows:
✓ The high-grade stainless and titanium welded tubes project, with a production capacity of 3,600 MTPA, remains on track for completion by the end of March 2025
✓ The fittings project is expected to commence operations in
H1FY26
✓ The Phase 2 expansion which includes:
✓ 4,800 MTPA capacity for seamless pipes/tubes, is progressing as
planned and is set to begin operations in December 2025
✓ Additionally, we are enhancing our piercing line capacity — backward integration for seamless pipes by 4,800 MTPA, further strengthening our manufacturing capabilities
✓ Company has received additional Rs 8.16 Crores in February from holders of convertible warrants in accordance with the terms of the preferential allotment taking the total amount received till date to Rs 35.06 crores
Revenue
Q3FY25
EBITDA
PAT
Rs. 231.3 Crs
Rs. 37.2 Crs
Rs. 18.0 Crs
Up by
11.7% Y-o-Y
EBITDA Margins 16.1%
PAT Margins 7.8%
Revenue
9MFY25
EBITDA
PAT
Rs. 700.4 Crs
Rs. 126.0 Crs
Rs. 69.2 Crs
Up by
21.2% Y-o-Y
Up by 24.4% Y-o-Y
EBITDA Margins 18.0%
Up by 13.6% Y-o-Y
PAT Margins 9.9%
4
i
n a G e r a h S
t
e k r a M c
i t s e m o D
Domestic market share gain in both segments driven by capacity expansion, wider geographical reach & strategic investment in key talent
Seamless Pipes Market Size (MTPA)*
1.6%
4.4%
3.2%
4.6%
8.0%
60,000
70,000
90,000
1,10,000
1,10,000
FY20
FY21
FY22
FY23
FY24
Welded Pipes Market Size (MTPA)*
4.4%
5.1%
4.4%
3.7%
5.3%
1,60,000
1,40,000
1,70,000
2,00,000
2,10,000
FY20
FY21
FY22
FY23
FY24
•
Volumes for Seamless pipes grew by ~8x over years resulting in market share increase from 1.6% in FY20 to 8.0% in FY24 for Seamless Pipes on account of backward integration and addition of smaller sizes of tubes
• Welded Pipes saw a
in market share from 4.4% in FY20 to 5.3% in FY24 on the back of capacity addition of higher dia pipes
increase
• Overall company’s market
share improved from 3.6% in FY20 to 6.2% in FY24
• We aim to further
increase our market share with addition of new value-added products and increasing our market penetration
*Source Crisil MI&A industry
Venus Pipes Market Share
5
Geographical Expansion
Exports in More than 25+ Countries
Contribution from Export Revenue (In Crs)
32.2%
12.3%
226
10.5%
40
4.8%
15
99
5.4%
30
FY21
FY22
FY23
FY24 9MFY25
~36x Growth in Exports
3.4%
6 FY20
Increase in Capacity
Value Added Products
Strong Dealership Network
Geographical Expansion
Share of Exports of total revenue
6
Revenue Split across Segment – Q3 & 9MFY25
Seamless (in ₹ Cr)
Welded (in ₹ Cr)
Others (in ₹ Cr)
Total (in ₹ Cr)
+17%
391.9
335.6
+16%
259.5
224.0
+165%
49.0
+21%
700.4
578.1
+8%
115.7
125.2
+4%
85.7
89.1
+198%
17.0
18.5
5.7
+12%
207.1
231.3
Q3FY24
Q3FY25
9MFY24
9MFY25
Q3FY24
Q3FY25
9MFY24
9MFY25
Q3FY24
Q3FY25
9MFY24
9MFY25
Q3FY24
Q3FY25
9MFY24
9MFY25
3%
7%
3%
7%
41%
Q3FY24
56%
39%
Q3FY25
54%
39%
9MFY24
58%
37%
9MFY25
56%
Seamless
Welded
Others
Seamless
Welded
Others
7
Revenue Split across Geographies – Q3 & 9MFY25
Domestic (in ₹ Cr)
Exports (in ₹ Cr)
Total (in ₹ Cr)
-6%
506.7
474.8
+216%
225.6
+21%
700.4
578.1
-17%
172.0
142.2
+153%
89.1
71.4
35.2
+12%
207.2
231.3
Q3FY24
Q3FY25
9MFY24
9MFY25
Q3FY24
Q3FY25
9MFY24
9MFY25
Q3FY24
Q3FY25
9MFY24
9MFY25
17%
39%
12%
32%
Q3FY24
Q3FY25
9MFY24
9MFY25
61%
68%
83%
88%
Domestic
Exports
✓ Domestic sales continue to be impacted by subdued private and government sector capex. We anticipate this slowdown in the domestic market to persist; however, we remain optimistic about growth. Our confidence is driven by increasing market share gains from unorganized players and the upcoming launch of fittings and other value-added products, which will strengthen our position as a comprehensive piping solutions provider for customers
✓ Exports witnessed a threefold growth year-on-year for the quarter, driven by strong global demand for our products and our continued efforts to expand market penetration
8
Key Financial Highlights – Q3 & 9MFY25
Revenue (in ₹ Cr)
EBITDA (in ₹ Cr)
PAT (in ₹ Cr)
+21%
700.4
578.1
+24%
126.0
101.3
+14%
69.2
60.9
+12%
207.1
231.3
-5%
39.1
37.2
-23%
23.3
18.0
Q3FY24
Q3FY25
9MFY24
9MFY25
Q3FY24
Q3FY25
9MFY24
9MFY25
Q3FY24
Q3FY25
9MFY24
9MFY25
Gross Profit Margin
EBITDA Margin
PAT Margin
+360 bps
+630 bps
-280 bps
32.9%
29.3%
27.0%
33.3%
18.9%
16.1%
+50 bps
17.5%
18.0%
-350 bps
11.3%
7.8%
-60 bps
10.5%
9.9%
Q3FY24
Q3FY25
9MFY24
9MFY25
Q3FY24
Q3FY25
9MFY24
9MFY25
Q3FY24
Q3FY25
9MFY24
9MFY25
9
Profit & Loss Account
Profit and Loss (in ₹ Cr)
Revenue from Operations
Cost of Goods Sold
Gross Profit
Gross Profit Margins (%)
Employee Cost
Other Expenses
EBITDA
EBITDA Margins (%)
Other Income
Depreciation
EBIT
Finance Cost
Profit before Tax
Tax
Profit After Tax
PAT Margins (%)
Q3FY25
Q3FY24
231.3
155.3
76.0
32.9%
10.3
28.5
37.2
207.1
146.5
60.6
29.3%
6.2
15.3
39.1
YoY
11.7%
25.4%
360 bps
-4.9%
16.1%
18.9%
-280 bps
0.9
4.8
33.3
9.1
24.2
6.2
18.0
7.8%
2.0
3.7
37.4
6.2
31.2
7.9
23.3
11.3%
-11.0%
-22.4%
-22.7%
-350 bps
9MFY25
9MFY24
700.4
467.5
232.9
33.3%
27.6
79.3
126.0
18.0%
5.6
13.7
117.9
24.9
93.0
23.8
69.2
9.9%
578.1
422.1
156.0
27.0%
15.8
38.9
101.3
17.5%
3.0
7.9
96.4
14.6
81.8
20.9
60.9
10.5%
YoY
21.2%
49.3%
630 bps
24.4%
50 bps
22.3%
13.7%
13.6%
-60 bps
10
Management Commentary
Commenting on the Q3 & 9MFY25 performance of the company Mr. Arun Kothari, Managing Director for Venus Pipes & Tubes Limited Said,
We are pleased to report steady performance for the quarter, with revenues growing by 11.7% to Rs. 231.3 crores, compared to Rs. 207.1 crores in the same period last year. Growth remained strong over the nine-month period, with revenues rising 21.2% year-on-year to Rs. 700.4 crores. EBITDA stood at Rs. 37.2 crores for Q3FY25, while for 9MFY25, it reached Rs. 126.0 crores, reflecting a 24.4% growth. Profit for the quarter stood at Rs. 18.0 crores, with 9MFY25 profit at Rs. 69.2 crores.
Arun Kothari Managing Director
On geographical front, we continued our strong export momentum, achieving a 153% year-on-year growth for the quarter—our highest-ever quarterly export revenue. Our share of exports revenue stood at 38.5% for the quarter. Additionally, our focus on expanding in the U.S. market is yielding results, with strong sales driven by a well-established team and a growing network of dealers. We are seeing strong demand for welded pipes in US, Middle East and African markets. European markets continue to remain strong for us with increasing penetration owing to competitive pricing and superior quality of our products.
Domestically, sales remain impacted by sluggish private and government sector capex. While we anticipate this trend to persist in the near term, we remain optimistic about growth on the back of market share gains from unorganized players and with the introduction of fittings and other value-added products, we are positioned as a one-stop piping solutions provider for our customers.
We continue to secure approvals from leading industry players, reinforcing the trust in our product quality. Our focus remains on expanding our SKU offerings, enhancing our manufacturing capabilities with higher-grade pipes and tubes, and penetrating new geographies.
Looking ahead, we remain committed to driving growth through market expansion, innovation, and operational excellence. With a strong export trajectory, increasing acceptance of our value-added products, and strategic investments in capacity expansion, we are well-positioned to capitalize on future opportunities.
11
HISTORICAL FINANCIAL HIGHLIGHTS
Key Historical Financials
Revenue (in ₹ Cr)
EBITDA (in ₹ Cr)
PAT (in ₹ Cr)
802
146
86
+46%
387
552
309
178
+88%
69
49
35
12
+114%
44
32
24
4
FY20
FY21
FY22
FY23
FY24
FY20
FY21
FY22
FY23
FY24
FY20
FY21
FY22
FY23
FY24
Gross Profit Margin
EBITDA Margin
PAT Margin
28.3%
18.2%
10.7%
18.6% 19.5%
15.5%
11.7%
12.7% 12.5%
11.2%
6.5%
7.6%
8.2%
8.0%
2.3%
FY20
FY21
FY22
FY23
FY24
FY20
FY21
FY22
FY23
FY24
FY20
FY21
FY22
FY23
FY24
13
Historical Profit & Loss Account
Profit and Loss (in ₹ Cr)
Revenue from Operations
Cost of Goods Sold
Gross Profit
Gross Profit Margins (%)
Employee Cost
Other Expenses
EBITDA
EBITDA Margins (%)
Depreciation
Other Income
EBIT
Finance Cost
Profit before Tax
Tax
Profit After Tax
PAT Margins (%)
FY24
802.2
575.3
226.9
28.3%
22.4
58.2
146.3
18.2%
11.8
3.2
137.7
22.1
115.6
29.7
85.9
10.7%
FY23
552.4
444.6
107.8
19.5%
10.2
28.5
69.1
FY22
386.9
315.0
71.9
18.6%
6.2
16.4
49.3
12.5%
12.7%
1.9
2.4
69.5
9.8
59.7
15.5
44.2
8.0%
1.4
2.1
49.9
7.1
42.9
11.2
31.7
8.2%
FY21
309.3
261.5
47.9
15.5%
3.2
9.9
34.8
11.2%
1.0
2.7
36.5
5.6
31.0
7.32
23.6
7.6%
FY20
177.8
157.0
20.8
11.7%
2.7
6.5
11.6
6.5%
2.1
1.5
11.0
4.6
6.5
2.4
4.1
2.3%
CAGR
45.7%
81.7%
1600 bps
88.5%
1200 bps
88.1%
105.4%
113.9%
840 bps
14
Historical Balance Sheet
Assets (in ₹ Cr)
Mar-24 Mar-23 Mar-22 Mar-21 Mar-20
Equity & Liabilities (in ₹ Cr)
Mar-24 Mar-23 Mar-22 Mar-21 Mar-20
Non - Current Assets
302.2
206.6
Property Plant & Equipments
281.0
59.8
CWIP
Intangible assets
Other Financial Assets
Other Non - Current Assets (Net)
12.1
121.6
0.9
2.6
5.6
0.1
2.1
23.0
30.4
21.3
7.4
0.1
1.7
-
20.9
19.5
-
0.1
1.3
-
Current Assets
Inventories
Financial Assets
(i)Investments
(i)Trade receivables
(ii)Cash and cash equivalents
(iii)Bank balances other than cash and cash equivalents
Other Financial Assets
Other Current Assets
Total Assets
455.4
300.9
217.5
116.6
226.0
166.9
93.5
44.2
-
-
45.1
30.7
3.1
177.1
1.1
6.6
2.2
39.3
2.9
70.5
10.8
15.2
0.1
34.5
1.4
73.5
0.0
7.3
0.7
0.1
4.4
2.6
41.1
20.4
17.5
12.2
3.2
0.1
2.0
-
89.7
44.3
0.4
5.0
0.0
9.3
Total Equity
Share Capital
Reserves & Surplus
Non-Current Liabilities
Financial Liabilities
(i) Borrowings
(ii) Lease Liabilities
Provisions
Deferred Tax Liabilities
Current Liabilities
Financial Liabilities
(i) Borrowings
(ii) Trade Payables
(iii) Lease
(iii) Other Financial Liabilities
Other Current Liabilities
Current tax liabilities (net)
Provisions
406.1
322.2
128.5
20.3
20.3
385.8
301.9
42.5
26.8
15.2
113.3
15.6
39.9
8.7
31.2
19.5
16.3
8.7
7.5
20.1
34.0
24.7
14.3
18.5
18.6
0.0
1.1
7.4
0.0
0.6
1.5
0.2
0.3
0.7
0.3
0.2
0.4
0.4
0.2
0.9
309.0
158.5
103.7
78.2
70.9
115.3
173.8
0.0
5.4
4.6
9.8
0.1
65.8
74.1
0.0
6.3
6.1
6.2
0.0
54.4
33.5
0.0
0.2
5.5
10.2
0.0
19.0
42.4
0.1
0.1
6.2
10.3
0.0
24.0
41.3
0.1
0.0
3.1
2.4
0.0
757.6
507.5
247.9
137.5
107.2
Total Equity & Liabilities
757.6
507.5
247.8
137.5
107.2
15
Historical Abridged Cash Flow Statement
Particulars (in ₹ Cr)
Net Profit Before Tax
Adjustments for: Non -Cash Items / Other Investment or Financial Items
Operating profit before working capital changes
Changes in working capital
Cash generated from Operations
Direct taxes paid (net of refund)
Net Cash from Operating Activities
Net Cash from Investing Activities
Net Cash from Financing Activities
Net Decrease in Cash and Cash equivalents
Add: Cash & Cash equivalents at the beginning of the period
Cash & Cash equivalents at the end of the period
FY24
115.6
29.8
145.4
-73.1
72.3
20.1
52.2
-99.7
37.8
-9.7
10.7
1.0
FY23
59.7
7.1
66.8
-39.4
27.4
18.7
8.7
-167.4
169.4
10.7
0.0
10.7
FY22
42.9
5.6
48.5
-97.4
-49.0
11.0
-60.0
34.1
25.8
0.0
0.1
0.0
FY21
31.0
5.1
36.1
-24.0
12.1
0.7
11.3
-2.4
-9.2
-0.3
0.4
0.1
FY20
6.5
4.1
10.6
-7.1
3.5
1.1
2.4
-12.4
10.0
0.1
0.3
0.4
16
Key Return Ratios
ROE
Debt / Equity Ratio
ROCE
25%
0.5
21%
21%
35%
31%
31%
0.4
0.3
FY22
FY23*
FY24
FY22
FY23
FY24
FY22
FY23^
FY24
ROE = PAT / Shareholder’s Equity D/E = Total Debt / Shareholder’s Equity ROCE = EBIT / Tangible Net worth + Non-Current Liabilities
*Excluding Rs. 107.9 crores raised via IPO for Capacity expansions ^Excluding CWIP of 121.6 crores from Total Capital Employed
17
Capex Update
Capex Update 1 : Foraying into Fittings Solutions
1
4
2
3
Expanding offerings to include comprehensive range of fittings solutions Building on our reputation and execution track record, we are diversifying our product portfolio to encompass a wide selection of fittings , leveraging our expertise to provide complete PFF (Piping, Fittings & Flanges) solutions to our customers across industries
Faster approval on back of proven track record of serving diverse clients Our longstanding commitment in delivering top-notch solutions to our clients has earned us a loyal clientele base with trust, which will enable us in getting faster approvals
Complementary to pipes business, low competition a strategic advantage Fittings represent a value-added product line that complements our pipes business, with only a handful of competitors in the industry. This advantageous position provides us with a strategic edge over competition allowing us to offer a basket of products and increasing our SKUs to position ourselves as complete fittings solutions provider
Existing wastages/scrap key raw material for fittings solutions Internal wastages generated from pipes business will form a part of raw material used for fittings business along with wastage procurement from other players, allowing us to save high raw material costs thereby enhancing our profitability
Fitting companies play a vital role in facilitating the efficient operation of industrial processes by providing high-quality fittings that enables the seamless flow and control of fluids and gases within complex piping systems
19
Fitting Project – Key Highlights
Product Range
Wide range of fittings such as elbows, tees, reducers, joints, flanges etc. designed to meet the specific requirements of different industries and applications
1
3
2
4
Material Expertise
We will work with various metals to ensure compatibility with the substances being transported and environmental conditions
Customization
Quality Assurance
We will provide customization services to tailor fittings according to clients' specifications, which may involve modifications in size, shape, material, or other parameters
Strict quality control standards to ensure the reliability, durability, and safety of their products, while complying with industry regulations and certifications
Faster approvals expected, given our strong relations and proven track record of delivering quality products
20
Capex Update 2 : Value added Welded Tubes
Description
Details
Impact
Value Added Product Line
Introducing a specialised product line of stainless and titanium welded tubes aimed at enhancing our competitive edge and profitability
Capacity Expansion
Low Competition
These specialized tubes represent critical innovation in an industry where such products are manufactured by only a select few players High precision engineering which makes it difficult for other players to enter the market
Revenue Growth & Margin Improvement
High reliability in critical applications
These value-added tubes are crafted to meet the demanding industrial requirements, boasting exceptional strength, precision, and resistance to corrosion
Increased Market Dominance
Increased sector outreach
We will manufacture both – Hygienic SS & Titanium grade of Tubes allowing us to diversify into sectors requiring critical application such as food processing, pharma along with nuclear and power sector as well
Value Added Premium Products
Phase 1 : Includes capacity expansion for setting up of value-added Fittings & Welded Tubes; to be completed by March 2025 / September 2025
Phase 2 : Includes capacity expansion for setting up of value-added Seamless - Pipes / Tubes; to be completed by December 2025
21
Financial Contours
Phase 1
Phase 2
Funding
Project Details
Fittings & Welded Tubes
Seamless Pipes / Tubes and Piercing Line
Project Cost
Rs 115 Crores
Rs 60 Crores
Margins (%)
High teens
High teens
Asset Turnover
Similar to current asset turns
Similar to current asset turns
Return Ratios
Non-Dilutive
Non-Dilutive
Timelines
March / September 2025
December 2025
~40% In form of warrants to be issued to Promoters & others
~60% In form of term loan from Banks & Internal accruals
Foraying into these value-added product lines present a high Return on Capital Employed (ROCE) opportunity for the company, poised to amplify profitability and drive sustained financial growth
22
Company Overview
Product Portfolio & Applications
Products manufactured are as per the International Standards to cater both Domestic & International markets
Stainless Steel High Precision and Heat Exchanger Tubes
Stainless Steel Hydraulic and Instrumentation Tubes
Stainless Steel Seamless Pipes
Stainless Steel Welded Pipes
Stainless Steel Box Pipes
• Heat Exchangers • Pressure Vessels • Chemical and Fertilizer
• Marine Equipment’s • Refinery and Petrochemical • Process Industry
• Dairy/Pharmaceutical
industry
• Nuclear Power Generation • Automotive
• Aerospace
• Nuclear & Thermal Power
generation • Oil and Gas • Process Industries
• Chemical and Fertilizer • Nuclear Power • Food & Beverage Processing
• Automotive • Aerospace • Medical and Pharmaceutical
Applications
• Onshore and Offshore Oil and Gas Production, Exploration and Transport
•
(OCTG – Oil Country Tubular Goods)
• Chemical & Petrochemical
• Energy and Power • Mechanical and Plant
Engineering
• Marine Equipment’s
• Pulp & Paper • Pharmaceutical Industry
• Chemical & Petrochemical • Gas Industry • Power Generation
• Mechanical and Plant
Engineering
• Marine Equipment’s • Pulp & Paper
• Pharmaceutical Industry
• Multiple industries especially
for industries having structural fittings like • Factories • Warehouses
• Temporary structures
24
Multiple End User Industry
e s U d n E d e
i f i s r e v D
i
Chemical
Engineering
Fertilizers
Pharmaceutical
Power
Food Processing
Paper
Oil & Gas
Aerospace
25
State of the Art Infrastructure…
Strategically located Manufacturing facility at Dhaneti (Kutch) within proximity of Kandla & Mudra ports for enabling imports and exports
Facility on a land measuring 2,02,545 Sq. Mt.
26
…with Stringent Quality Inspection & Testing
Rigorous testing system for our products to Ensure Finest Quality is delivered for our products
Tensile Test
Hydro-static Test
Hardness Test
Eddy Current Test
Quality Tests
IGC Test
Air under Water Test
s t s e T e v i t c u r t s e D
Reverse-bend Test
Flattening, Flaring & Flange Test
Spectro Test
Borescopic Test
N o n - D e s t r u c t i v e T e s t s
27
Marquee Clientele
28
Awards & Certifications
Calendar Years
Certifications & Accreditations
2016
2017
2017
2018
2018
2022
Our manufacturing facilities at Dhaneti have been accredited with management system standards certificate for compliance with ISO 9001: 2015 & ISO 14001:2015 requirements
Our Company has been verified and recognized as material manufacturer according to AD 2000 - Merkblatt W0 by The TÜV NORD Systems GmbH & Co. KG.
Our Company has been certified as quality-assurance system related to the material by The TÜV NORD Systems GmbH & Co. KG.
Our Company has received approval for manufacturing of Carbon Steel, Alloy Steel, Stainless Steel Welded & Seamless Pipes up to 400 mm NB / Tubes up to 101.60 mm O.D. & U-Tubes under inspection of Indian Boiler Regulations – 1950 from the Office of the Director of Boiler, Gujarat.
Our manufacturing facilities at Dhaneti have been accredited with management system standards certificate for compliance with ISO 45001: 2018
Our company received approval of Bureau of Indian Standard (BIS) for Stainless steel Seamless and Welded Pipes and Tubes
IBR Certificate
TUV – AD 200 Merkblatt W0
ISO Certificate
BIS Certification for Seamless Pipes
BIS Certification for Welded Pipes
29
Experienced Board of Directors
Arun Kothari Chairman & Managing Director
Jayantiram M Choudhary
Whole Time Director
Megharam S Choudhary
Whole Time Director
Dhruv M Patel
Whole Time Director
Associated with the Company since 2021 as a Director. A qualified Chartered Accountant and holds a bachelor’s degree in commerce from Rajasthan University
Associated with the Company since its incorporation. Over ten years of experience in the steel industry
Associated with our Company since its incorporation. Over 15 years of experience in the stainless steel welded pipes and tubes industry.
Associated with the Company since 2015. Holds a bachelor’s degree in engineering from University of Pune and a master’s degree in technology from CEPT University.
Kailash Nath Bhandari
Independent Director
Pranay Ashok Surana
Independent Director
Komal Lokesh Khadaria
Independent Director
Shyam Agarwal
Independent Director
Bachelor’s degree in law from Jodhpur University and has over 18 years of experience in the insurance sector. On the Board of Hindalco Industries Limited as an independent director
Masters in engineering from the Indian Institute of Technology, Bombay. Founder of Flyrobe and has been featured on the coveted Forbes 30 under 30 in the Asia list (2017) and in the India list (2019).
Member of Institute of Companies Secretaries of India (“ICSI”) and holds a bachelor’s degree in commerce. Holding nine years of experience and has held the position of Chairperson of Surat Chapter of ICSI
Doctorate in law from University of Rajasthan and has over fifteen years of experience. A member of the quality review board of the ICAI, New Delhi; and Chairman and independent director of ICMAI Registered Valuers Organization, New Delhi.
30
Strong Management Team
Arun Kothari Chairman & Managing Director
Associated with the Company since 2021 as a Director. A qualified Chartered Accountant and holds a bachelor’s degree in commerce from Rajasthan University
Jayantiram M Choudhary
Whole Time Director
Associated with the Company since its incorporation. Over ten years of experience in the steel industry
Megharam S Choudhary
Whole Time Director
Associated with our Company since its incorporation. Over 15 years of experience in the stainless steel welded pipes and tubes industry.
Dhruv M Patel
Whole Time Director
Associated with the Company since 2015. Holds a bachelor’s degree in engineering from University of Pune and a master’s degree in technology from CEPT University.
Kunal Bubna Chief Financial Officer
Associated with the Company since July 2021. Is a fellow member of the Institute of Chartered Accountants of India and the ICSI with fourteen (14) years of experience.
Pavan Kumar Jain Company Secretary and Compliance Officer
Associated with us as manager (finance and accounts) since August 2020. A qualified company secretary holding three (3) years of experience in finance, accounting and secretarial work
Kumar Shishir C Sinha President (Marketing)
With our Company since March 01, 2021. Holds a degree of bachelors in arts from Magadh University and has over 30 years of experience in the stainless- steel pipes and tubes.
STRATEGIES TO SUPPORT GROWTH
Capacity Expansion & Backward Integration
Capacity Expansion for Finished Products (MTPA)
Completed Capacity Expansion
~5x Capacity Expansion
6,900
4,800 2,100 FY19
9,300
7,200
2,100 FY20
10,800
10,800
7,200
3,600
FY21
7,200
3,600
FY22
12,000
8,400
3,600
FY23
3.2x
38,400
Particulars
Previous
Current
Size (mm)
Capacity
Size (mm)
Capacity
24,000
14,400
FY24
Seamless
6 – 114.3
3,600 MTPA
6 – 219.3
14,400 MTPA
Welded
6 – 219.3
8,400 MTPA
6 – 1,422.4
24,000 MTPA
Mother Hollow (Backward Integration for Seamless Pipes)
NA
0
NA
~14,400 MTPA
With some additional cost & modifications, the company can now produce Mother Hollow Pipes up to ~14,400 MT
To Cater to increasing demand in the Domestic & Export Markets
Upcoming Capacity Expansion
Phases
Capex
Timelines
Phase 1 : Setting up of value-added Fittings & Welded Tubes
Rs 115 Crores
March / September 2025
Phase 2 : Setting up of value-added Fittings, Welded / Seamless – Pipes / Tubes
Rs 65 Crores
December 2025
33
Key Takeaways
Capacity Expansion
Geographical Expansion
Brand Value
Expanding our existing manufacturing capacity for welded pipes/tubes (including titanium grade) and seamless pipes/tubes; and foraying into value added fittings business
We intend to leverage our existing relationships to further deepen our presence in the European Union market and make in roads in US, Middle East and African markets
We intend to make consistent efforts to strengthen our brand “Venus” and enhance our brand visibility for attaining parity with our industry peers.
01
03
05
02
04
Backward Integration Installed piercing line for manufacturing of hollow pipes with the capacity of 14,400 MTPA, as our backward integration strategy. With the piercing plant, we are now able to produce hollow pipes from SS round bar
Better Efficiency Installed an acid regeneration plant (“ARP”) where the consumption of acid in our manufacturing process will get reduced, which in turn improve our operating margins
34
Thank You
Venus Pipes & Tubes Limited
CIN: L74140GJ2015PLC082306 Mr. Kunal Bubna ( Chief Financial Officer ) cs@venuspipes.com
Strategic Growth Advisors Private Limited
CIN: U74140MH2010PTC204285 Mr. Sagar Shroff / Mr. Ayush Haria sagar.shroff@sgapl.net / ayush.haria@sgapl.net +91 98205 19303 / +91 98204 62966
35