Top Steel Pipes and Tubes Stocks Compared: Jindal Saw vs Ratnamani Metals vs Maharashtra Seamless vs Man Industries vs Venus Pipes on Price, Valuation, Q2 FY27 Results and Risks
- November 12, 2026
- Posted by: Ankit Jaiswal
- Category: Best Stocks
Previous close: Jindal Saw Rs 248.35, Ratnamani Metals Rs 2,501.10, Maharashtra Seamless Rs 571.80, Man Industries Rs 840.85, Venus Pipes Rs 1,844.70.
Quick Answer
This steel pipes and tubes stocks compared snapshot checks five names on price, valuation and Q2 FY27 results: Jindal Saw, Ratnamani Metals, Maharashtra Seamless, Man Industries and Venus Pipes. Ratnamani Metals is the largest by market capitalisation at Rs 17,533 crore. Venus Pipes reports the highest return on equity at 14.37%. Pipe makers earn on order flow and steel costs, so read margins and returns next to every multiple.
Steel pipes and tubes stocks compared here means Jindal Saw, Ratnamani Metals, Maharashtra Seamless, Man Industries and Venus Pipes on one page, checked on previous close, market value, valuation and the latest quarterly numbers. The group mixes a maker of ductile iron and steel pipes, a stainless steel pipe and tube maker, a seamless pipe producer, a large diameter line pipe maker and a stainless pipe specialist, so each name earns from a different pipe type and customer set, which is exactly why a side-by-side look helps.
Jindal Saw and Ratnamani Metals have filed their September 2026 quarter, so their results below are Q2 FY27. Maharashtra Seamless and Man Industries have reported only the June 2026 quarter so far, and Venus Pipes is tracked on price and valuation. Pipe makers follow oil and gas projects, water schemes, steel prices and order timing, so a glance at the Nifty Metal page and the Sensex page before you read the tables gives useful backdrop.
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Steel Pipes and Tubes Stocks Compared: Five Makers on the List
The steel pipes and tubes stocks compared here are Jindal Saw, Ratnamani Metals, Maharashtra Seamless, Man Industries and Venus Pipes. Ratnamani Metals is the largest by market capitalisation at Rs 17,533 crore. Previous closes run from Rs 248.35 for Jindal Saw to Rs 2,501.10 for Ratnamani Metals, which is why a side-by-side look at value rather than price is more useful. This steel pipes and tubes stocks compared list is the base for every table that follows.
| Stock | Previous close (Rs) | Market cap (Rs crore) |
|---|---|---|
| Jindal Saw | 248.35 | 15,873 |
| Ratnamani Metals | 2,501.10 | 17,533 |
| Maharashtra Seamless | 571.80 | 7,658 |
| Man Industries | 840.85 | 6,306 |
| Venus Pipes | 1,844.70 | 4,227 |
A quick look at the business behind each ticker puts the numbers in context. Jindal Saw makes ductile iron pipes and steel pipes for water, oil and gas users, while Ratnamani Metals makes stainless steel pipes and tubes for demanding industrial users. Maharashtra Seamless makes seamless steel pipes for oil, gas and engineering users, and Man Industries makes large diameter line pipes for oil, gas and water projects. To compare steel pipes and tubes stocks properly, line up price to earnings, return on equity and operating margin before forming a view.
Rounding out the group, Venus Pipes makes stainless steel pipes and tubes for process and engineering users. A fair steel pipes and tubes stock comparison looks at what each company actually earns from, not only at the share price. Line pipe makers, seamless producers and stainless specialists belong in separate mental boxes whenever you compare steel pipes and tubes stocks fairly.
Steel Pipes and Tubes Stocks Valuation: Multiples, Returns and Payouts
Maharashtra Seamless trades at the lowest price to earnings ratio in this group at 10.39. Venus Pipes reports the highest return on equity at 14.37%. Maharashtra Seamless has the lowest price to book value at 1.11. These steel pipes and tubes stocks valuation readings come from the previous close and the latest reported financials. That is the idea behind this steel pipes and tubes stocks compared table: price to earnings and return on equity sit side by side so a high or low reading stands out at once.
| Stock | Price to earnings | Price to book | ROE (%) | Dividend yield (%) | Debt to equity |
|---|---|---|---|---|---|
| Jindal Saw | 31.90 | 1.26 | 4.35 | 0.81 | 0.33 |
| Ratnamani Metals | 35.66 | 4.13 | 9.39 | 0.40 | 0.09 |
| Maharashtra Seamless | 10.39 | 1.11 | 10.20 | 1.75 | 0.00 |
| Man Industries | 30.86 | 3.04 | 8.17 | 0.30 | |
| Venus Pipes | 40.82 | 3.87 | 14.37 | 0.05 | 0.33 |
Steel pipe stocks often trade at varied price to earnings multiples because order timing makes profit uneven. Price to book, return on equity and dividend yield help you judge how the market values each maker and how much it pays back. Earnings per share and book value per share are the building blocks behind price to earnings and price to book, so a glance at both in each filing is time well spent. A simple steel pipes and tubes stock comparison like this one is only as useful as the context behind it, which is why operating margin is worth checking as well.
In this group, price to earnings runs from 10.39 for Maharashtra Seamless to 40.82 for Venus Pipes. Maharashtra Seamless offers the highest dividend yield at 1.75%. Industry price to earnings readings differ by sub-sector: Jindal Saw and Ratnamani Metals at 42.97; Maharashtra Seamless and Man Industries at 21.06; Venus Pipes at 19.62. The industry price to earnings is a handy anchor: a stock above it is priced for faster growth, and one below it is priced for steadier earnings. A well-built steel pipes and tubes stock comparison also notes that order timing and steel prices can move results between quarters. Run the same steel pipes and tubes stock comparison on your own watchlist and the pattern in these numbers will be easier to spot. Whenever you compare steel pipes and tubes stocks, note whether a premium is backed by returns or only by size.
Steel Pipes and Tubes Stocks Q2 FY27 Results: Revenue and Profit Check
Two of the five steel pipes and tubes stocks compared have filed Q2 FY27 numbers. Ratnamani Metals posted the fastest revenue growth at 13.1% year on year. Read revenue first and quarterly profit second, since the two together show how much of the growth reaches shareholders. The others are shown on their latest reported quarter, so read each one for what it is. Treat the Q2 FY27 numbers in this steel pipes and tubes stocks compared review as a snapshot of one quarter, not a verdict on any pipe maker.
| Stock | Q2 FY27 revenue (Rs crore) | Q2 FY26 revenue (Rs crore) | Q2 FY27 net profit (Rs crore) | Q2 FY26 net profit (Rs crore) |
|---|---|---|---|---|
| Jindal Saw | 4,523 | 4,264 | ||
| Ratnamani Metals | 1,379 | 1,219 |
Jindal Saw Results Snapshot
Jindal Saw reported Q2 FY27 revenue of Rs 4,523 crore, compared with Rs 4,264 crore a year earlier, a rise of 6.1%.
Ratnamani Metals Results Snapshot
In the September 2026 quarter, Ratnamani Metals booked revenue of Rs 1,379 crore against Rs 1,219 crore in the same quarter last year, a rise of 13.1%.
Maharashtra Seamless Results Snapshot
Maharashtra Seamless has reported only its Q1 FY27 numbers so far, with revenue of Rs 1,266 crore for the June 2026 quarter. Its Q2 FY27 filing is yet to appear, so read the exchange disclosure when it lands before you set it against the others.
Man Industries Results Snapshot
Man Industries has reported only its Q1 FY27 numbers so far, with revenue of Rs 1,065 crore for the June 2026 quarter. Its Q2 FY27 filing is yet to appear, so read the exchange disclosure when it lands before you set it against the others.
Venus Pipes Results Snapshot
Venus Pipes is tracked here on price and valuation. Its quarterly filing on the exchange website carries the revenue and profit detail, so read it before you set the stock against the rest.
Pipe and tube results depend on order execution, steel prices, product mix and plant use, so profit can look different from revenue in a single quarter. That is why a steel pipes and tubes stock comparison works best when revenue and profit are read together across two or three quarters. Used this way, a steel pipes and tubes stocks compared review becomes a map of the sector rather than a price list. When you compare steel pipes and tubes stocks after each result season, track how operating margin changes from one quarter to the next. A steel pipes and tubes stock comparison built on one quarter of data is a starting point, and the next set of results will update it.
Steel Pipes and Tubes Stocks Compared Two at a Time: Three Pairings
Readers rarely want a five-way table and nothing else, so here are three head-to-head reads drawn from the same data. Use them as a quick way to compare steel pipes and tubes stocks two at a time.
Jindal Saw vs Maharashtra Seamless
Jindal Saw and Maharashtra Seamless both serve oil, gas and water users, one with ductile iron and steel pipes and the other with seamless pipes. Jindal Saw is about 2.1 times the size of Maharashtra Seamless by market capitalisation, at Rs 15,873 crore against Rs 7,658 crore. On price to earnings, Maharashtra Seamless carries the lower multiple at 10.39 against 31.90 for Jindal Saw. Maharashtra Seamless reports the higher return on equity, at 10.20% against 4.35% for Jindal Saw. Both depend on project orders, so read growth next to valuation before you judge either multiple.
Ratnamani Metals vs Venus Pipes
Ratnamani Metals and Venus Pipes both make stainless steel pipes and tubes for process and engineering users. On price to earnings, Ratnamani Metals carries the lower multiple at 35.66 against 40.82 for Venus Pipes. Venus Pipes reports the higher return on equity, at 14.37% against 9.39% for Ratnamani Metals. For dividend income, Ratnamani Metals offers 0.40% against 0.05% at Venus Pipes. Both sit in the stainless segment, so read returns and valuation side by side.
Man Industries vs Jindal Saw
Man Industries makes large diameter line pipes for oil, gas and water projects, while Jindal Saw covers a wider pipe range. Jindal Saw is about 2.5 times the size of Man Industries by market capitalisation, at Rs 15,873 crore against Rs 6,306 crore. On price to earnings, Man Industries carries the lower multiple at 30.86 against 31.90 for Jindal Saw. Man Industries reports the higher return on equity, at 8.17% against 4.35% for Jindal Saw. A line pipe specialist and a broad pipe maker are priced differently, so read the business mix before you read the ratio.
Best Steel Pipes and Tubes Stocks for Each Type of Investor
People who ask for the best steel pipes and tubes stocks often have very different goals, so here is who leads on each measure today, row by row. Any steel pipes and tubes stocks compared table can mislead if you stop at one row, because each pipe maker leads on a different measure.
| If you care most about | Start your research with | The number |
|---|---|---|
| Lowest price to earnings | Maharashtra Seamless | 10.39 |
| Highest return on equity | Venus Pipes | 14.37% |
| Highest dividend yield | Maharashtra Seamless | 1.75% |
| Lowest price to book value | Maharashtra Seamless | 1.11 |
| Largest by market capitalisation | Ratnamani Metals | Rs 17,533 crore |
| Fastest Q2 FY27 revenue growth | Ratnamani Metals | 13.1% |
No single name tops every row, which is exactly why a steel pipes and tubes stock comparison helps. Scale, returns, payouts and valuation each point to a different maker, so decide what matters most to you before you rank the numbers.
What Is Driving Demand for Pipes and Tubes Right Now?
Oil and gas, water, power and process industries all need steel pipes and tubes. Makers with approvals for demanding applications can win larger and longer orders. Knowing what moves order flow and steel prices helps you compare steel pipes and tubes stocks with the right questions in mind.
Raw material costs, order mix and plant use decide margins. Firms with export orders and special alloy ranges can earn more per tonne than makers of standard pipes. A good steel pipes and tubes stocks compared routine therefore tracks order books, realisations and margins.
Risks to Weigh When You Compare Steel Pipes and Tubes Stocks
Steel pipe stocks depend on steel prices, order timing, import duties and project spending. Valuations can differ widely, so read each filing for order book, realisation and margin commentary before you compare them. Every steel pipes and tubes stock comparison has blind spots, and for this group the biggest is order flow and steel prices. A thoughtful steel pipes and tubes stocks compared review keeps these risks next to the numbers instead of in a footnote.
Because order books, realisations and margins drive these businesses, the most useful habit is to read the management commentary that comes with every result and note what is expected for the next quarter. Read together, the risk notes and the tables make this steel pipes and tubes stocks compared guide a balanced starting point.
How to Compare Steel Pipes and Tubes Stocks and Build a Shortlist
Start by deciding whether you want large project pipes, seamless pipes or stainless tubes, because each responds to different triggers. Line pipe makers reward readers who track project awards, while stainless names reward those who track process industry demand. Done step by step, this steel pipes and tubes stocks compared routine becomes repeatable rather than a one-off exercise.
Then check valuation and returns, because premium multiples leave less room for slips and steel price swings can move margins. Spreading your attention across one project pipe maker and one stainless name is a simple way to see both sides of the sector. Keep the shortlist of best steel pipes and tubes stocks short enough that you can actually follow each company’s quarterly results. When you compare steel pipes and tubes stocks again after new results, update only the rows that changed instead of starting over.
The Univest stock screener lets you filter steel pipes and tubes stocks by market capitalisation, return on equity and price to earnings, and the app keeps live prices a tap away through the trading day. Come back to this steel pipes and tubes stocks compared page after the next set of results to see which numbers have moved.
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Conclusion: Steel Pipes and Tubes Stocks Compared at a Glance
This steel pipes and tubes stocks compared review on price, valuation and Q2 FY27 results shows that no single name wins every measure. Ratnamani Metals leads on size and Venus Pipes leads on return on equity, while the others bring their own strengths. Treat the steel pipes and tubes stocks Q2 FY27 results and steel pipes and tubes stocks valuation tables as a research starting point, then check the filings and speak to a SEBI-registered advisor before you invest. If you plan to compare steel pipes and tubes stocks again next quarter, the same checklist of price to earnings, return on equity and operating margin will work.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions on Steel Pipes and Tubes Stocks Compared
Which are the top steel pipes and tubes stocks compared in this article?
Ans. The steel pipes and tubes stocks compared in this article are Jindal Saw, Ratnamani Metals, Maharashtra Seamless, Man Industries and Venus Pipes. They are checked on previous close, market capitalisation, price to earnings, price to book, return on equity and the latest quarterly results, giving you a quick, even-handed view of the group ahead of any detailed filing review.
Which steel pipes and tubes stock has the highest market capitalisation?
Ans. Among the five names, Ratnamani Metals has the highest market capitalisation at Rs 17,533 crore. Jindal Saw follows at Rs 15,873 crore. The figure reflects what the market is paying for the whole company today, and it will change as prices move, so refresh it before you decide.
Which of these steel pipes and tubes stocks has the lowest price to earnings ratio?
Ans. On steel pipes and tubes stocks valuation, Maharashtra Seamless has the lowest price to earnings ratio among these steel pipes and tubes stocks at 10.39, based on the latest reported earnings. Venus Pipes sits at the other end at 40.82. The lowest ratio is not a verdict on the stock, since earnings growth and quality decide whether a multiple is fair.
Which steel pipes and tubes stock has the highest return on equity?
Ans. Venus Pipes reports the highest return on equity in this group at 14.37%. A higher return on equity points to a company that turns shareholder funds into profit efficiently. Check the trend over time and the debt level before leaning on a single reading.
How did steel pipes and tubes stocks perform in Q2 FY27 results?
Ans. Two of the five names have filed Q2 FY27 numbers in our data. Ratnamani Metals recorded the fastest revenue growth at 13.1% year on year. For steel pipes and tubes stocks Q2 FY27 results, the others are covered on their latest reported quarter, and each filing on the exchange website carries the full detail.
What are the main risks when you compare steel pipes and tubes stocks?
Ans. Steel pipe stocks depend on steel prices, order timing, import duties and project spending. Valuations can differ widely, so read each filing for order book, realisation and margin commentary before you compare them. Keep an eye on order books, realisations and margins.
Which metrics matter most when you compare steel pipes and tubes stocks?
Ans. Order book, realisations, operating margin and plant use matter most for operating performance. Price to earnings, price to book, return on equity and dividend yield show how the market values each maker. Read each company’s filing for these along with the numbers in this article.
Which is the best steel pipes and tubes stock to buy among these five?
Ans. The best steel pipes and tubes stock depends on whether you value project line pipes, seamless pipes or stainless tubes, because the five names differ on all three. On the numbers in this article, Ratnamani Metals has the largest market capitalisation; Maharashtra Seamless has the lowest price to earnings as well as the highest dividend yield; Venus Pipes has the highest return on equity. The leaders change from row to row, so no stock stands out on everything, and this article is not advice. Shortlist from the tables, verify with the latest filings, and consult a SEBI-registered advisor, since time horizon and risk appetite matter most.
