The agency has also reaffirmed its 'Crisil A1' rating on the short-term bank facilities of the company. Crisil Ratings stated that the revision in outlook reflects improvement in the business and financial risk profiles of VPTL. Revenue grew to Rs 1,167 crore in fiscal 2026, from Rs 958 crore in fiscal 2025, owing to healthy demand from domestic and export markets. The operating margin stood at 17% in fiscal 2026. Further sustenance of revenue growth and profitability will remain a key monitorable. The ratings continue to reflect the extensive experience of the promoters in the stainless steel pipes business along with increasing scale of operations, healthy operating margin and moderate financial risk profile of the company. These strengths are partly offset by large working capital requirement and exposure to risks related to completion of capital expenditure (capex) and ramp up in scale. Venus Pipes and Tubes manufactures stainless steel pipes and tubes used in multiple industries. Strategically located on the Bhuj-Bhachau highway near Dhaneti in Kutch (Gujarat), its facility is in close proximity to the Kandla and Mundra ports. The company has manufacturing capacity of 48,000 tonne per annum (TPA) of welded and seamless pipes and tubes and 20,400 TPA of mother hollow pipes. The scrip had advanced 2.32% to end at Rs 1694.30 on the BSE on Thursday. Powered by Capital Market - Live News |