Venus Pipes - Reaping The Benefits Of Shift From Unorganised To Organised: Anand Rathi

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Anand Rathi Report.We expect Venus Pipes and Tubes Ltd.'s revenue/Ebitda to register 31.5%/51.9% compound annual growth rates over FY23-FY26 and initiate coverage on the company with a 'Buy' rating and a target price of Rs 1,700, 25% potential (23 times FY26e price/earning). The PE multiple attributed to value the company is on par with peer Ratnamani Metals and Tubes Ltd.’s five-year average P/E, which we believe is fair due to excellent return ratios and structural rise in margins..Key risks: Export-related weakness due to ongoing war, tough peer competition, policy change shocks.About the companyOne of the growing stainless-steel pipe and tube manufacturers and exporters in India, Venus Pipes is involved in the production of stainless steel welded and seamless pipes and tubes. These are used in various industries including oil and gas, fertilisers, pharma, food and beverage, engineering and chemicals.The company has a strong focus on research and development, with its in-house research and development centre continuously working on developing products and improving existing ones. This has helped it retain its position as one of the leading players in the stainless-steel pipe and tube segment.Click on the attachment to read the full report:.Muthoot Microfin IPO - Investment Rationale, Issue Details, Financials, Valuations: Anand Rathi.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Venus Pipes - Reaping The Benefits Of Shift From Unorganised To Organised: Anand Rathi

Incessant capacity expansion and backward integration would lead to strong revenue growth, margin expansion

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