Since its IPO, shares of this steel pipe company gave 40 per cent returns in just 3 months; do you have it?

Tushar Jain
/ Categories: Trending, Mindshare
Since its IPO, shares of this steel pipe company gave 40 per cent returns in just 3 months; do you have it?

The stock had a substantial volume surge since the start of September.

Today, the Venus Pipes and Tubes stock began trading at Rs 450 and reached a high of Rs 469. The company's 52-week high and low are Rs 469 and Rs. 316.40, respectively. The firm has a market capitalization of Rs 936.16 crore. Since the beginning of the month, the stock has experienced a large increase in volumes, ranging from 2.5 to 7 times daily. From the stock's IPO listing price of Rs 334 in late May 2022, it has returned 40 per cent.

Venus Pipes and Tubes Limited produces and exports stainless steel pipes and tubes. Stainless steel high precision and heat exchanger tubes, stainless steel hydraulic and instrumentation tubes, stainless steel seamless pipes, stainless steel welded pipes, and stainless steel box pipes are among the five product categories that the company produces. 

In addition to introducing Mother Hollow pipes with a 9,600 MTPA capacity, the company is now striving to increase the capacity of Seamless and Welded Pipes/Tubes from 3,600 MTPA and 7,200 MTPA to 9,600 MTPA & 14,400 MTPA, respectively. 

Sales are increasing at a CAGR of 48 per cent over the past three years. The company's trailing twelve-month topline is now Rs 411 crore. The astounding rise in operating profit over the past three years is 81 per cent. Currently, company's operating margin is at 12.3 per cent, a substantial improvement. 

The top line for the first quarter of FY23 was Rs 114 crore, up 23 per cent year over year. The company's net profit margin is also increasing. Around 30 per cent of the company's total assets in FY22 are represented by receivables. The company's average ROE and ROCE for FY22 are 37.6 per cent and 36.3 per cent, respectively. 

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