*Venus Pipes & Tubes Ltd.* | *CMP* Rs. 1532 | *M Cap* Rs. 3120 Cr | *52 W H/L* 2490/969 (Nirmal Bang Retail Research) *Result ok* Revenue from Operations came at Rs. 258.1 Cr (11.6% QoQ, 15.2% YoY) vs QoQ Rs. 231.3 Cr, YoY Rs. 224.1 Cr EBIDTA came at Rs. 41.6 Cr (12.1% QoQ, -7.6% YoY) vs QoQ Rs. 37.1 Cr, YoY Rs. 45 Cr EBITDA Margin came at 16.1% vs QoQ 16%, YoY 20.1% Adj. PAT came at Rs. 23.7 Cr vs QoQ Rs. 18 Cr, YoY Rs. 25 Cr Quarter EPS is Rs. 11.6 Stock is trading at P/E of 23.7x FY26E EPS