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Venus Pipes & Tubes has officially started producing LSAW pipes, with a monthly output of approximately 600 MT, beginning on 21 July 2023.
Arun Kothari, managing director of Venus Pipes & Tubes, said, "I am delighted to share that the company has commenced commercial production of LSAW pipes as the last leg of planned capacity expansion. With almost tripling our capacities in the last two months as compared to FY23, the company is all geared up to cater the rising demand for its products among diversified industries, whilst maintaining utmost standards and quality.
The company is poised to capture new markets, forge stronger partnerships, and continue to raise the bar in terms of product excellence and customer satisfaction. At Venus, the company strives to increase its market share by addition in the product portfolio, expand the client base and serve the existing clients better."
Venus Pipes & Tubes is a manufacturer and exporter of stainless steel pipes and tubes. The company reported a 66.4% rise in net profit to Rs 13.4 crore in Q4 FY23, with total revenue increasing by 60% YoY to Rs 176.3 crore.
Shares of Venus Pipes & Tubes rose 0.10% to Rs 1195 on Thursday, 20 July 2023.
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