Venus Pipes Share Price Today and Targets for 2026 to 2030

Venus Pipes share price today

The Venus Pipes share price ended the 10 September 2026 session at about ₹1,933.6. That is 0.84% below the 52-week high of ₹1,949.9 and more than double the 52-week low of ₹894. At that price the company carried a market capitalisation of roughly ₹4,002 crore against trailing EPS of ₹49.6 and book value per share of ₹324.59, which works out to about 38.98 times trailing earnings and 5.95 times book value. The quote above keeps moving after publication; every ratio and scenario input below stays fixed to the stated cut-off.

The investment question here is narrower than the price chart suggests. Venus Pipes & Tubes sells stainless steel pipes, tubes and fittings into the capital budgets of chemical, pharmaceutical, fertiliser, power and oil-and-gas plants. Revenue has compounded impressively. Profit has not kept pace since FY24, and the market has been paying a higher multiple for that slower profit growth, not a lower one.

One disclosure before the numbers. No Screener financial statements were captured for this name in this batch. The multi-year revenue and profit rows below come from Yahoo Finance’s annual series, and the five-year growth rates and return ratios come from Screener-derived figures captured on 5 August 2026. Where a quarterly profit number does not exist in that material, this article does not supply one.

What Venus Pipes & Tubes actually makes

The company was incorporated in 2015, is headquartered in Gandhidham and employed 959 people at the date of capture. It manufactures stainless steel pipes and tubes and sells them in India and into export markets. Yahoo Finance classifies it under Basic Materials and the Steel industry, and the corporate description is published on the company website.

Product family	What it is	Why the end market buys it
Precision tubing	High-precision and heat-exchanger tubes	Heat transfer duty inside process plants
Instrumentation	Hydraulic and instrumentation tubes	Small-bore lines that carry pressure and signal
Seamless pipe	Stainless seamless pipes	Corrosive and high-pressure service
Welded pipe	Stainless welded pipes and condenser tubes	Lower-cost duty where welding is acceptable
Large diameter	LSAW pipes	Bulk conveyance in heavier applications
Fittings	Elbows, nipples, reducers, tees and end caps	Sold into the same project as the pipe

The named end industries are chemicals, engineering, fertilisers, pharmaceuticals, power, food processing, paper, oil and gas, paint, defence, aerospace, semiconductors and solar manufacturing. That is a long list, and it is worth reading it for what it implies rather than what it promises. The demand is project-linked. When a chemical or pharmaceutical company sanctions a plant, pipe and tube orders follow; when sanctioning slows, the order book thins before the revenue line shows it.

The figures captured for this article do not include a product-wise or geography-wise revenue split, so the table above is descriptive rather than quantified. Investors who want to understand the mix should read it out of the company’s own filings rather than infer it. For a nearer comparison in the same broad category, the Welspun Corp share price target page covers a much larger line-pipe manufacturer, and the INOX India share price target page covers another supplier of fabricated equipment into process capex.

What the Venus Pipes share price has done in twelve months

The 52-week range runs from ₹894 to ₹1,949.9, and the 10 September close sits 0.84% under the top of it. That is a stock trading at the high end of its own recent history, which changes what an investor is underwriting.

The five weeks before the cut-off make the point sharply. The table below sets the Screener-derived figures captured on 5 August 2026 against the Yahoo Finance capture taken after the 10 September 2026 close.

Measure	5 Aug 2026	10 Sep 2026
Market capitalisation	₹3,389 Cr	₹4,002 Cr
P/E	33.13	38.98
Price-to-book	5.06	5.95
Trailing EPS	₹49.3	₹49.6
Book value per share	₹322.9	₹324.59
52-week high	₹1,845.4	₹1,949.9
Gap below the 52-week high	13.1%	0.84%

Trailing EPS moved from ₹49.3 to ₹49.6 across those five weeks. Book value moved from ₹322.9 to ₹324.59. The market capitalisation moved by roughly ₹613 crore. Almost none of the move came from earnings. It came from the multiple, which is the part of a share price that can reverse without any operating news at all.

FY23 to FY26: revenue compounded faster than profit

The annual record shows a genuine scale-up. Revenue more than doubled between FY23 and FY26, and net profit rose from ₹44 crore to ₹102 crore. The shape of that growth matters more than the endpoints.

Financial year	Revenue	Net profit	Net margin	Revenue growth	Profit growth
FY23	₹552 Cr	₹44 Cr	8.0%	n/a	n/a
FY24	₹802 Cr	₹86 Cr	10.7%	45.3%	95.5%
FY25	₹959 Cr	₹93 Cr	9.7%	19.6%	8.1%
FY26	₹1,167 Cr	₹102 Cr	8.7%	21.7%	9.7%
Trailing twelve months	₹1,211 Cr	Not captured	8.56% margin	n/a	n/a

Yahoo labels each annual row by the calendar year in which the March financial year ended, so the FY26 row is the year to March 2026. The pattern is that FY24 was the exceptional year: profit almost doubled and the net margin reached 10.7%. Since then revenue has kept compounding in the high teens to low twenties while profit growth has fallen to single digits and the net margin has drifted back to 8.7%.

The trailing-twelve-month figures agree with that reading. Revenue growth year on year was 16% and earnings growth year on year was 5.5%. Over five years, the Screener-derived figures put the sales CAGR at 30.41% and the profit CAGR at 34.05%. Both of those long-run rates were earned largely in the earlier part of the period. Anchoring a five-year forecast on them without moderating for the last two years would be an error of arithmetic dressed as optimism.

The recent revenue sequence

Only quarterly revenue was captured for this name. No quarterly profit, operating margin or per-share figure exists in the material behind this article, so nothing about quarterly profitability is claimed below.

Period label	Revenue
3Q2025	₹292 Cr
4Q2025	₹297 Cr
1Q2026	₹302 Cr
2Q2026	₹321 Cr

These are Yahoo’s own period labels, and the useful information is the sequence rather than the naming convention. The four add to about ₹1,212 crore, which reconciles with the ₹1,211 crore trailing revenue figure, so the series is internally consistent. Revenue rose gently across the first three periods and then stepped up in the most recent one.

A rising revenue line with no visible margin line leaves the most important question unanswered. The FY25 and FY26 annual rows already showed profit growing far more slowly than sales. Whether the latest revenue step-up carried profit with it cannot be answered from what is captured here, and the place to answer it is the company’s own quarterly filing rather than a chart.

Margins and returns: the five-year average was better than today

Return on capital employed is the number that decides whether a pipe maker is a manufacturer or a commodity converter. The captured figures give both a current and a five-year reading, and they do not agree.

Current ROCE is 22.50% and current ROE is 17.05%. The five-year average ROCE is 27.15%. In other words the business earned a materially better return on capital across the last five years than it is earning now. That is consistent with the margin picture: net margin peaked at 10.7% in FY24 and was 8.7% in FY26, with a trailing profit margin of 8.56%.

Operating margin is reported on two different bases in the captured material and they should not be blended. The Screener-derived operating margin is 16.33%; Yahoo’s operating margin, which deducts a different set of costs, is 13.82%. EBITDA is ₹197 crore on trailing revenue of ₹1,211 crore. The honest reading is that operating profitability is respectable for the category and that the gap between operating margin and net margin reflects depreciation and interest on a capital base that has been growing. If ROE and ROCE interest you as screening tools, the return on equity guide sets out what each one does and does not capture.

The balance sheet behind the capacity

Growth of this kind is not free. The balance sheet shows how it was paid for.

Balance-sheet and ownership measure	10 September 2026 reading	Why it matters
Total debt	₹287 Cr	Capacity has been part debt-funded
Total cash	₹30 Cr	Net borrowing position of about ₹257 Cr
Debt to equity	42.95%	Leverage is real but not extreme
EBITDA	₹197 Cr	Covers interest comfortably at this level of debt
EV/EBITDA	About 21.6× (recalculated)	₹4,002 Cr + ₹287 Cr − ₹30 Cr, over ₹197 Cr of EBITDA
Promoter holding	51.74%	Majority control retained
Promoter pledge	0% (Screener-derived, 5 August 2026)	No pledged promoter shares in the captured data
Dividend yield	0.05%	Cash is being retained, not distributed

A debt-to-equity ratio near 43% for a manufacturer adding capacity is neither alarming nor irrelevant. It means fixed charges sit ahead of the equity holder in a downturn, and it means the operating margin has to hold for the net margin to hold. The debt-to-equity ratio guide explains why the same ratio reads differently for an asset-heavy manufacturer than for a services business.

The 51.74% promoter stake, from the 10 September Yahoo capture, and the nil pledge, which comes from the 5 August Screener-derived figures, are worth noting for what they remove rather than what they add. There is no pledge-driven forced-selling overhang in the captured data, and control is not contested. Neither fact tells you anything about the return on the capital being deployed.

Valuation at the research cut-off

Valuation measure	10 September 2026 reading	Interpretation
Completed-session price	About ₹1,933.6	Fixed research input, not a live figure
Market capitalisation	About ₹4,002 Cr	Micro-cap; liquidity and execution risk matter
Trailing EPS	₹49.6	Yahoo Finance trailing basis
Recalculated P/E	About 38.98×	Price divided by trailing EPS
Book value per share	₹324.59	Implies price-to-book of 5.95×
EV/EBITDA	About 21.6× (recalculated)	Includes the ₹287 Cr of debt; the captured 17.59 is a 5 August figure
PEG	0.97 (Screener-derived, 5 August 2026, on a P/E of 33.13)	Cheap only if past growth repeats
Dividend yield	0.05%	The case rests entirely on reinvestment

Two rows in that table need their dates stated, because carrying them across unchanged would flatter the price. The captured EV/EBITDA of 17.59 belongs to the 5 August 2026 Screener-derived figures, not to the cut-off. Rebuilding it on the cut-off inputs gives an enterprise value of ₹4,002 crore of market capitalisation plus ₹287 crore of debt less ₹30 crore of cash, or ₹4,259 crore, which against EBITDA of ₹197 crore is about 21.6 times. That is a recalculation rather than a captured figure, and it is the honest number to use alongside a P/E struck on the same day. A market capitalisation that rose by roughly ₹613 crore in five weeks could not have left the enterprise multiple where it was.

The PEG of 0.97 is the same problem and the number most likely to be quoted out of context. It was struck on 5 August, when the P/E was 33.13; on the same growth denominator, the 10 September multiple of 38.98 gives a PEG of about 1.14. Even that flatters the case, because PEG divides the P/E by a growth rate and the growth rate that produces this one is historical. The most recent annual profit growth in the captured data is 9.7%, with trailing earnings growth of 5.5%. Divide 38.98 by single-digit growth instead of by 34% and the comfort disappears entirely. The P/E ratio guide sets out where a trailing multiple is informative and where it simply restates the price.

Nearly 39 times trailing earnings can be justified if the order flow from chemical and pharmaceutical capex accelerates, the margin recovers toward its FY24 level and ROCE moves back toward the five-year average. It offers very little protection if profit growth stays in single digits, because in that case the multiple is carrying the entire return. Chemical customers’ own capex cycles are the upstream driver here; the Navin Fluorine share price target page covers one such customer industry in more detail.

Valuation framework

The scenario model starts with TTM EPS of ₹49.6. For each year it applies EPS_TTM × (1 + growth)^(year − 2026 + 112/365) × exit P/E, then rounds the result to the nearest ₹5. The 112/365 factor represents the fraction of the first forecast year remaining from 10 September to 31 December. Dividends are excluded, and no share issue or buyback is modelled.

Scenario	Annual EPS growth	Exit P/E	Business interpretation
Bear	8%	22×	Single-digit profit growth persists, margin stays near FY26 levels and the multiple returns to something ordinary for a cyclical manufacturer
Base	14%	32×	Revenue keeps compounding in the high teens, margin stabilises, and the stock holds roughly the multiple it carried in early August
Bull	20%	42×	Process-capex demand accelerates, product mix shifts toward higher-value tubing and ROCE moves back toward its five-year average

Two choices in that table are deliberate. First, the growth rates are all well below the 30.41% sales CAGR and 34.05% profit CAGR of the last five years, because the last two years grew profit at single digits and a five-year forecast should reflect the recent trajectory as well as the long-run one. Second, the base exit multiple of 32× is close to the 33.13 P/E that the stock carried on 5 August rather than the 38.98 it carried on 10 September, so the base case does not quietly assume that the last five weeks of re-rating are permanent. The bull case allows a modest expansion above today’s multiple, not a large one; assuming both perfect growth and permanent multiple expansion would just restate current enthusiasm as analysis. The method behind all of this is set out in the how to value a stock guide.

Venus Pipes share price target 2026 to 2030

The grid above is generated only from the disclosed EPS, growth and exit-multiple inputs. It does not model a fresh equity issue, a change in the debt load, a commodity-price shock in stainless steel input costs, an anti-dumping or trade action, a large capacity addition, exceptional items or any change in the shareholding structure. It also assumes the trailing EPS of ₹49.6 is a fair starting point, which it will not be after the next result. Treat it as a set of arithmetic consequences of stated assumptions, not as a forecast.

Risks that can break the thesis

The first risk is the starting multiple. At 38.98 times trailing earnings and 5.95 times book, the price already assumes that profit growth reaccelerates from the single digits reported in the most recent periods. A stock 0.84% off its 52-week high has no cushion built into it.

The second is the input-cost cycle. Stainless steel pipe making converts an expensive alloy input into a fabricated product, and margin depends on the spread between the two. The captured data already shows net margin falling from 10.7% in FY24 to 8.7% in FY26 while revenue grew, which is what spread compression looks like in an annual report.

The third is demand concentration in capital projects. The named end markets are diverse on paper, but they share a driver: industrial capex sanctioning. A pause in chemical, fertiliser or pharmaceutical plant approvals affects several of those markets simultaneously rather than independently.

The fourth is leverage combined with reinvestment. Debt of ₹287 crore against ₹30 crore of cash and a 42.95% debt-to-equity ratio is manageable while EBITDA is ₹197 crore. It becomes less manageable if a demand pause coincides with a completed capacity addition that has not yet filled.

Finally, this is a micro-cap. A ₹4,002 crore market capitalisation means position sizing, trading liquidity and the impact cost of exiting are real considerations rather than footnotes.

What would change the thesis

Three things would change how this company should be read, and none of them is a line the scorecard below can track quarter by quarter. The first is a disclosed product-mix or export-mix split. The product table earlier in this article is descriptive because nothing in the captured material quantifies it. If precision tubing and instrumentation tubes — the higher-value families — were shown gaining share of revenue, the premium multiple would be resting on mix rather than on volume, and the long list of end industries would become an economic fact rather than a marketing one. Without that split, an investor is paying a specialist multiple for a revenue base that could be predominantly commodity welded pipe.

The second is the distance between operating profit and net profit. Operating margin reads 16.33% on the Screener-derived basis and 13.82% on Yahoo’s, while the trailing net margin is 8.56%. That spread is depreciation and interest on a capital base enlarged with ₹287 crore of borrowing. If it widens as newly commissioned assets begin depreciating and the interest on them is expensed rather than capitalised into the asset, revenue growth will keep converting into progressively less profit — which is exactly the FY25 and FY26 pattern, extended. A narrowing spread would mean the capacity is being absorbed.

The third is arithmetic rather than operational. Every figure in the scenario grid is built on trailing EPS of ₹49.6. A sustained fall in that number — not one soft quarter, but a declining trailing twelve-month figure — invalidates the base of all three scenarios simultaneously, whatever growth rate or exit multiple is applied on top of it. The narrower operating tests, on margin, capital returns, profit growth and leverage, are stated more compactly in the scorecard that follows.

Quarterly monitoring scorecard

Question	Constructive evidence	Warning sign
Is profit growth catching up with revenue?	Profit growth back in double digits	Another year of high-teens sales and single-digit profit
Is the margin stabilising?	Net margin holding above the FY26 8.7%	Net margin drifting further below FY24’s 10.7%
Is the capital earning?	ROCE moving from 22.50% toward the 27.15% five-year average	ROCE falling further below that average
Is leverage under control?	Debt falling relative to EBITDA of ₹197 Cr	Debt rising faster than operating profit
Is the order flow real?	Revenue steps sustained across several periods	One strong period followed by a flat sequence
Is ownership stable?	Promoter stake near 51.74% with pledge at nil	Promoter stake falling or shares being pledged

What to weigh at the current price

Venus Pipes & Tubes has done the hard part of an industrial scale-up. Revenue went from ₹552 crore in FY23 to ₹1,167 crore in FY26 and ₹1,211 crore on a trailing basis, promoters retain 51.74% with nothing pledged, and the balance sheet carries debt without being strained by it. Five-year returns on capital of 27.15% show the business model can work well.

The tension is that the two things an investor is paying for have been moving in opposite directions. Profit growth has fallen from 95.5% in FY24 to 9.7% in FY26 and 5.5% on the latest year-on-year reading, and net margin has fallen with it, while the multiple expanded from 33.13 to 38.98 in the five weeks before the cut-off. That combination is what makes the next set of results, and specifically the margin line in them, the piece of evidence that matters most. The product range is not in question; the return on the capital already committed to it is.

FAQ

What is Venus Pipes & Tubes’s share price target for 2026?

The 2026 row of the scenario grid comes from trailing EPS of ₹49.6 grown for the 112 days remaining in the calendar year and multiplied by each scenario’s exit P/E. It is an arithmetic consequence of the growth and multiple assumptions disclosed above, not a forecast. Any change in trailing EPS at the next result changes every row.

What is the Venus Pipes share price target for 2030?

The 2030 row applies the same formula over four more compounding years, so it is the most sensitive row in the grid to both the growth rate and the exit multiple. Small differences in either assumption produce large differences by the fifth year. Read it as a range of outcomes under stated assumptions rather than a prediction.

What does Venus Pipes & Tubes do?

It manufactures and sells stainless steel pipes and tubes, including high-precision and heat-exchanger tubes, hydraulic and instrumentation tubes, seamless pipes, welded pipes, condenser tubes and LSAW pipes, along with fittings such as elbows, nipples, reducers, tees and end caps. It serves chemical, engineering, fertiliser, pharmaceutical, power, food processing, paper, oil and gas, paint, defence, aerospace, semiconductor and solar customers, and it exports. The company was incorporated in 2015 and is headquartered in Gandhidham.

Who are the promoters of Venus Pipes & Tubes?

Yahoo’s 10 September 2026 capture shows the promoter group holding 51.74% of the equity; the Screener-derived figures captured on 5 August 2026 show nil promoter pledge. Individual promoter names were not part of either capture, so the shareholding pattern filed with the exchange is the correct place to read them. Majority promoter control with a nil pledge is a structural fact about the shareholding, not a judgment about the business.

Is Venus Pipes & Tubes listed on both NSE and BSE?

The price, market capitalisation and ratios in this article use the NSE line for the symbol VENUSPIPES. Listing venues, board lots and corporate-action notices should be confirmed from the exchange quote page linked in the sources below rather than assumed. The scenario framework itself is exchange-neutral.

How has the Venus Pipes share price moved since its listing?

A listing-date price was not part of the material behind this article, so no since-listing return is claimed here. What the captured data does show is a 52-week range of ₹894 to ₹1,949.9, a close 0.84% below that high, and revenue compounding at a five-year sales CAGR of 30.41% with a five-year profit CAGR of 34.05%. The share price history should be read from the exchange rather than reconstructed from ratios.

Related research

• Welspun Corp share price target
• INOX India share price target
• Navin Fluorine share price target
• How to value a stock
• P/E ratio formula and meaning
• Debt-to-equity ratio explained
• Return on equity explained

Sources and methodology

• Venus Pipes & Tubes on Screener.in
• Venus Pipes & Tubes quote and filings on NSE
• Venus Pipes & Tubes company website

Price, 52-week range, market capitalisation, trailing EPS, book value, debt, cash, EBITDA, the annual revenue and profit rows, the quarterly revenue rows, promoter holding and the trailing growth rates were captured from Yahoo Finance after the completed 10 September 2026 session. The five-year sales and profit CAGRs, the five-year average ROCE, current ROE and ROCE, the operating margin of 16.33%, the nil promoter pledge, PEG and the captured EV/EBITDA of 17.59 come from Screener-derived figures captured on 5 August 2026, which is also the comparison point used in the re-rating discussion above. The EV/EBITDA of about 21.6 times and the PEG of about 1.14 printed in this article are the author’s recalculations of those two measures on the 10 September inputs, and are labelled as such wherever they appear. No Screener financial statements were captured for this name in this batch, which is why the multi-year table uses Yahoo’s annual series and why no quarterly profit or quarterly margin figure appears anywhere in this article.

Analytical judgment begins at the scenario table. The three growth rates and three exit multiples are chosen by the author from the historical record described above and are not company guidance, consensus estimates or a probability-weighted forecast. The interpretation of margin compression, capital-return trends, leverage and cyclicality is likewise the author’s reading of the captured figures. The live quote at the top of the page does not recalculate any of it.

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This article is research and education, not personalised investment advice or a recommendation to transact. Gale is not a SEBI-registered investment adviser. The scenarios are illustrations, not guarantees. Verify current exchange filings, liquidity, corporate actions and suitability, and consult a registered adviser before acting.