Iron & Steel products company Venus Pipes & Tubes announced Q4FY24 & FY24 results:<br><br>Q4FY24 Financial Highlights:<br><br>• Revenue of Rs 224.1 crore, a growth of 27.1% as compared to Rs 176.3 crore in Q4FY23<br>• EBITDA of Rs 45.0 crore, a growth of 108.6% YoY as against Rs 21.6 crore in Q4FY23<br>• PAT of Rs 25.0 crores, a growth of 86.4% YoY as against Rs 13.4 crore in Q4FY23<br><br>FY24 Financial Highlights:<br><br>• Revenue of Rs 802.2 crores, a growth of 45.2% as compared to Rs 552.4 crore in FY23<br>• EBITDA of Rs 146.3 crores, a growth of 111.7% YoY as against Rs 69.1 crore in FY23<br>• PAT of Rs 85.9 crores, a growth of 94.3% YoY as against Rs 44.2 crore in FY23<br>• Recommends final dividend of Rs 0.5 per equity share (FV Rs 10/-per equity share). Total dividend declared for FY2023-24 stands at Rs 1 per equity share of Rs 10/- each<br><br>Commenting on the financial performance, Arun Kothari, Managing Director, Venus Pipes & Tubes, said, “We are delighted to conclude this fiscal year on a high note, showcasing exceptional financial performance. Our revenues have surged to Rs 802.2 crore, marking an impressive growth of 45.2%. EBITDA stood at Rs 146.3 crore, exhibiting a staggering increase of 111.7%, with margins standing at 18.2% for FY24. PAT for the same period stood at Rs 85.9 crore.<br><br>Throughout the year, our primary focus has been on expanding our export base. Leveraging our backward integration of seamless pipes, our export revenues have witnessed a remarkable surge of 231%, reaching Rs 98.7 crore, now comprising approximately 12% of our total revenues. We have also started to receive orders from US markets, and we are looking ahead on penetrating this market along with Middle East, while simultaneously solidifying our presence across Europe.<br><br>In addition to our efforts to expand our export channels, we also have diversified our presence across various industries. This year, we successfully ventured into sectors such as oil & gas, railways, food processing, and paint industry.<br><br>Lastly, we recently announced capacity expansion into value added product lines, with foray into fittings business and adding capacities for titanium tubes. This strategic initiative enables us to provide comprehensive piping solutions. With our marquee customer base and quality product offerings, we are optimistic of increasing revenue and profitability growth.<br><br>We enter FY25 with an optimistic outlook and a focus on ramping up our capacities along with deeper export penetration. Our commitment remains steadfast towards reaching out to diverse sectors, maintaining product diversity, and expanding our footprint across various geographies with unwavering enthusiasm.”<br><br>Result PDF
Conference Call with Venus Pipes & Tubes Management and Analysts on Q3FY24 Performance and Outlook. Listen to the full earnings transcript.
Conference Call with Venus Pipes & Tubes Management and Analysts on Q2FY24 Performance and Outlook. Listen to the full earnings transcript.