Vibhor Steel Tubes Q1FY27 Revenue Surges 27% to ₹293.69 Cr; Net Profit Drops 39%
Vibhor Steel Tubes (VSTL) reported Q1FY27 revenue up 27.16% to ₹293.69 crore, driven by its Odisha plant. EBITDA rose 21% to ₹12.37 crore. Net profit fell 39% to ₹1.93 crore. The company incorporated Viyom Steel Infra Pvt Ltd to cater to the infrastructure sector.
The revenue growth and EBITDA improvement are positive indicators for the company's operational performance. However, the substantial decrease in net profit and the ongoing strategic diversification efforts, along with the new subsidiary, suggest a moderate impact on investor sentiment.
The company reported strong revenue growth and EBITDA increase, which is positive. However, the significant drop in net profit by 39% and EPS by 38.55% overshadows the topline gains, leading to a neutral sentiment.
Vibhor Steel Tubes Ltd (VSTL) reported a 27.16% increase in operating revenue on a standalone basis, reaching ₹293.69 crore for the first quarter ended June 30, 2026. This growth, up from ₹230.96 crore in the same period last year, is attributed to increased sales from value-added products from its recently operationalized Odisha plant.
Despite the revenue surge, the standalone net profit decreased by 39% to ₹1.93 crore during the quarter, compared to ₹3.14 crore in the prior year. However, EBITDA on a standalone basis saw a significant rise of 21%, reaching ₹12.37 crore from ₹10.26 crore year-on-year.
The company has also established a wholly-owned subsidiary, Viyom Steel Infra Pvt Ltd, to manufacture products like transmission towers, monopoles, and crash barriers, targeting the infrastructure sector. The Odisha plant, with a capacity of 156,000 MTPA and an investment of ₹119.83 crore, commenced commercial production in July 2025 and offers various value-added steel products.
Commenting on the performance, Vijay Kaushik, Chairman and Executive Director, noted the healthy growth in topline and operating profitability despite global volatility, driven by increased demand for value-added steel products for infrastructure and real estate projects. He expressed optimism for further topline improvement in upcoming quarters through diversification into the value-added steel segment.
VSTL manufactures a range of steel products including ERW pipes, galvanized pipes, hollow sections, and crash barriers. The company has a contract manufacturing agreement with Jindal Pipes, with over 80% of its turnover generated from this segment. Crisil Ratings recently assigned an 'BBB+/Stable' long-term rating and 'Crisil A2' short-term rating to its bank loan facilities.
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