Venus Pipes & Tubes Limited has released the transcript of its Q4 and FY26 earnings call held on May 26, 2026. The call, hosted by DAM Capital Advisors Limited, featured insights from Managing Director Mr. Arun Kothari, Whole-Time Director Mr. Dhruv Patel, and CFO Mr. Kunal Bubna. Mr. Kothari highlighted FY26 as a year of continued momentum, emphasizing the company's resilience in navigating a challenging global environment marked by geopolitical tensions and supply chain disruptions. He noted an 18% growth in exports for FY26 and robust domestic demand, particularly in sectors like power, oil & gas, and industrial applications. The company is also exploring new age industries such as data centers, semiconductor manufacturing, and solar manufacturing, having secured a Letter of Intent (LOI) from the data center segment. A significant development shared was the full commissioning of the company's capex plan, including forward integration into fittings and expansion of higher grades in welded pipes, tubes, and seamless tubes. The total installed capacity now stands at 27,600 metric tons per annum for welded pipes and 20,400 metric tons per annum for seamless pipes, with an enhanced seamless pipe capacity of 6,000 metric tons per annum. Mr. Dhruv Patel detailed the company's strategic move into spooling solutions with a capex of approximately ₹70 crore, backed by an ₹185 crore LOI from the data center segment. This move aims to enhance value addition and margins. The company also acquired an additional 15 acres of land for future expansion and strengthened its leadership team. A tandem JCO press was installed for manufacturing longer welded pipes. Financially, for Q4 FY26, revenue from operations stood at ₹302.2 crore, a 17% year-on-year growth, while FY26 revenue reached ₹1,166.8 crore, a 22% growth. EBITDA for Q4 FY26 was ₹49.4 crore, a 19% increase, with EBITDA margins at 16.3%. PAT for Q4 FY26 was ₹25.4 crore, a 7% growth. Looking ahead, the company anticipates more than 20% revenue growth in FY27 and targets EBITDA margins moving towards 17%-18% by FY28. The spooling business is expected to commence by the end of the calendar year, with an execution period of approximately 15 months for the current LOI. The JCO press is already operational. The company foresees a capex of ₹90-100 crore for FY27.
