Venus Pipes bags LOI for supplying stainless steel tubes from major power plant equipment maker

These stainless steel seamless boiler tubes find application in a series of supercritical and subcritical thermal power projects.

The company stated that the formal order will be released shortly. The project is expected to be executed progressively during next 12-15 months.

Arun Kothari, managing director, Venus Pipes & Tubes, said: 'This order is a testament to our strong manufacturing capabilities and the long-standing relationships we have built with our customers over the years.

It further reinforces our position as a key player in India's stainless-steel manufacturing landscape and showcases the trust and confidence our customers have in us.

Venus Pipes & Tubes manufactures and exports stainless-steel pipes and tubes, offering seamless and welded products in five categories. Their market extends to over 25 countries, including Brazil, the UK, Israel, and various European Union nations.

The company had reported a 22.81% drop in net profit to Rs 17.97 crore in Q3 FY25, compared to Rs 23.28 crore recorded in Q3 FY24. However, revenue from operations advanced 11.67% to Rs 231.30 crore in the December quarter, compared with Rs 207.13 crore posted in Q3 FY24.

The scrip fell 1.23% to currently trade at Rs 1167.90 on the BSE.

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