Vibhor Steel Tubes Reports 16.24% Surge in Q4 FY26 Operating Income to Rs 335.13 crore

Vibhor Steel Tubes Reports 16.24% Surge in Q4 FY26 Operating Income to Rs 335.13 crore​

Haryana-based high-quality steel tubes and pipes manufacturer, Vibhor Steel Tubes Ltd (VSTL), posted a 16.24 per cent growth in its standalone operating income, reaching Rs 335.13 crore for the quarter ending March 31, 2026. This figure compares favorably to the Rs 288.30 crore reported in the same quarter last year.

During the quarter under review, the company's EBITDA increased by 26.15 per cent, totaling Rs 15.34 crore. However, net profit declined by 42.12 per cent, falling to Rs 2.57 crore, compared to Rs 4.44 crore in the previous year. The decline in net profit was attributed to increased finance and depreciation costs due to the commencement of the Odisha plant. For the quarter, the company's earnings per share stood at Rs 1.36.

For the full fiscal year ended March 31, 2026, the company's operating income saw an increase of 15.35 per cent, reaching Rs 1149.35 crore, up from Rs 996.38 crore last year. On a standalone basis, net profit fell by 25.32 per cent, totaling Rs 8.79 crore, down from Rs 11.77 crore recorded in FY25.

Vijay Kaushik, Chairman and Executive Director of Vibhor Steel Tubes, commented on the performance, stating, "We have witnessed a robust growth in our business translating into higher topline in this quarter. Steel demand from infrastructure and real estate sectors has been steadily increasing, which is backed by the government's sustained emphasis on infrastructure and manufacturing sectors. With our additional capacity now operational, we are well positioned to capitalize on the growing demand."

The company recently began supplying Electric Resistance Welded (ERW) and Galvanized (GI) Pipes from its greenfield plant located at Sundargarh in Odisha. Commercial production at this 156,000 MTPA facility commenced in July 2025. This facility, which involved a total investment of Rs 119.83 crore, enables the production of various value-added steel products, including crash barriers, Power Transmission Line Towers, high mast lighting poles, octagonal poles, and monopoles.

The company manufactures a diverse range of steel products, such as electric resistance welded pipes, hot-dipped galvanized pipes, hollow section pipes, primer painted pipes, crash barriers, Power Transmission Line Towers, high mast lighting poles, octagonal poles, and monopoles. A significant segment of the company's turnover, currently over 80 per cent, comes from its contract manufacturing agreement with Jindal Pipes to supply finished goods under the brand name Jindal Star.

The financial performance comparison between the quarters and years is detailed below:


In a related development, Crisil Ratings assigned 'BBB+/Stable' long-term and 'Crisil A2' short-term ratings to the company's bank loan facilities, aggregating to Rs 370 crore. This rating reflects VSTL's established market position in the steel tubes and pipes segment, consistent operational performance, and prudent financial management.

VSTL operates three manufacturing units: one at Raigad in Maharashtra, which handles 100% of export sales; another in the Mahbubnagar district of Telangana; and the third in the Sundargarh district of Odisha. With a total capacity of 3,77,000 MTPA, the company supplies its products across western, southern, and eastern markets in Maharashtra, Gujarat, Madhya Pradesh, Telangana, Karnataka, Tamil Nadu, and Odisha.

VSTL Stock Price Movement​

Vibhor Steel Tubes Limited shares today slipped by 2.39% to settle at ₹117.34 during post-market trading. The stock saw significant activity, completing the session with a total traded volume of 20,138 shares.