CRISIL Ratings has revised the outlook on the long-term bank facilities of Venus Pipes and Tubes Limited (VPTL) to Positive from Stable, while reaffirming its 'CRISIL A' long-term rating and 'CRISIL A1' short-term rating.

The rating revision reflects VPTL's improving business and financial profile, supported by strong revenue growth, healthy profitability, and expanding operations. During FY2026, the company reported revenue of Rs 1,167 crore, up from Rs 958 crore in FY2025. Operating margin remained healthy at 17%, driven by robust demand from both domestic and export markets.

CRISIL noted that VPTL continues to strengthen its market position through capacity expansion, a diversified product portfolio, and an increasing presence in overseas markets. The agency expects these factors to support sustained revenue growth and maintain healthy cash flows.

Going forward, CRISIL will closely monitor the company's ability to maintain profitability while successfully executing its expansion plans and managing working capital requirements.

VietnamSteel by Hoa Sen Group