Iron & Steel products company Venus Pipes & Tubes announced Q1FY25 results: During the quarter, the company achieved its highest-ever quarterly revenue of Rs 240.1 crore, a stellar growth of 34% EBITDA stood at Rs 47.9 crore growing by 74% YoY with a margin of 20% PAT for the quarter stood at Rs 27.5 crore with margin standing at 11.5% Our exports revenue continue to outperform driven by robust order inflows across markets. Exports revenue stood at Rs 60.9 crore, compared to Rs 7.7 crore in Q1FY24, a significant growth of 690%. Exports contribute 25% to the total revenues in Q1FY25, as compared to 4% in Q1FY24 We are witnessing increase in inquiries and order flows from a diverse range of industries such as oil & gas, pharma, engineering, power and others Our overall orderbook remains robust, not only from Europe, but we are seeing strong traction from US and Middle East markets Additionally, phase 1 capex of our value-added product lines is on track and is set for completion by March 2025 Rs 17.85 crore were received from holders of convertible warrants in accordance with the terms of the preferential allotment Commenting on the Q1FY25 performance of the company Arun Kothari, Managing Director for Venus Pipes & Tubes Limited Said, “We are proud to have started FY25 with a strong quarter, showcasing exceptional performance. Our revenues reached Rs 240.1 crore, reflecting a robust growth of 33.7%. Our EBITDA stands at Rs 48 crore, growing by 73.6%, with margins at 20%. Meanwhile, our PAT has increased to Rs 27.5 crore, a growth of 58%. During this quarter, our export performance has been exceptionally strong, with revenues increasing by an impressive 691% year-on-year, reaching Rs 60.9 crore and contributing 25% of our total revenues, up from 4% in Q1FY24. Sequentially, we have achieved significant growth of 123%. We are experiencing strong momentum not only in our key market of Europe but also seeing substantial traction in the US and Middle East markets. Moving forward, we have a robust order book from these regions and expect this export momentum to continue. Furthermore, our high-margin seamless pipes segment continues its steady growth trajectory with a 22% increase in revenue. The welded pipes segment also experienced a substantial growth of 55%, fueled by strong order inflows from the oil & gas sector, where we see vast potential for further expansion. Our order book stands strong, with orders pouring in from a diverse set of industries, predominantly from oil & gas, pharma, engineering, power and other sectors. We are well-positioned to capitalize on the current growth momentum. Our strategic initiatives, robust order book, and expanding presence in key international markets are paving the way for sustained success. We remain steadfast in our commitment to delivering high-quality products that meet and exceed our customers expectations.” Result PDF