Venus Pipes and Tubes Limited (VENUSPIPES.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-83.7%

₹295.75

vs ₹1,818.40 price

Levered DCF

₹1,852.44

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	18.06×	25.87×	43.54×	33.01×	15.71×	30.44×	174.56×	191.54×
P/B	2.75×	4.52×	9.22×	4.53×	3.87×	18.01×	44.19×	59.08×
P/S	1.58×	2.51×	4.67×	2.64×	1.29×	2.32×	4.04×	6.06×
EV / EBITDA	10.41×	14.54×	26.03×	21.52×	11.31×	20.56×	64.71×	80.87×
Gross margin	27.6%	27.4%	19.5%	19.5%	18.6%	15.5%	11.7%	14.4%
Operating margin	14.3%	15.6%	16.9%	12.2%	12.6%	11.0%	5.8%	6.1%
Net margin	8.7%	9.7%	10.7%	8.0%	8.2%	7.6%	2.3%	3.2%
Current ratio	1.42×	1.41×	1.47×	2.04×	2.1×	1.49×	1.27×	1.32×
Debt / equity	0.43×	0.36×	0.37×	0.28×	0.5×	0.95×	2.65×	2.42×
Interest coverage	4.09×	4.34×	6.13×	6.84×	6.89×	6.11×	2.27×	2.33×
Dividend yield	0.1%	0.1%	0.1%	0.1%	0.0%	0.0%	0.0%	0.0%
Payout ratio	2.0%	2.2%	2.4%	2.3%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	15.3%	17.5%	21.2%	13.7%	24.6%	59.2%	25.4%	30.8%
Return on invested capital	12.7%	15.0%	17.9%	12.0%	18.6%	33.0%	10.9%	13.1%
Return on assets	7.8%	9.2%	11.3%	8.7%	12.8%	17.2%	3.9%	4.7%
Free cash flow yield	-6.0%	-2.8%	-1.5%	-10.5%	-16.2%	0.9%	-0.7%	-1.2%
Earnings yield	5.5%	3.9%	2.3%	3.0%	6.4%	3.3%	0.6%	0.5%
Enterprise value	₹21B	₹25.9B	₹38.9B	₹15.4B	₹5.6B	₹7.6B	₹7.6B	₹7.5B
Net debt / EBITDA	1.28×	1.06×	0.99×	1.11×	1.29×	1.03×	3.63×	3.15×
Cash conversion cycle (days)	120	127	114	123	133	56	70	80