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Vibhor Steel Tubes (VSTL)₹104.20+0.61%Iron & Steel Products
In the Jun 2026 quarter (standalone), Vibhor Steel Tubes reported sales of ₹293 Cr, up 27.1% from Jun 2025, and net profit of ₹1.94 Cr, down 38.4% year on year. For the year to Mar 2026, sales were ₹1,148 Cr and net profit ₹9.01 Cr.
Company filings, standalone accounts; latest reported quarter Jun 2026
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 280 | 251 | 291 | 224 | 236 | 247 | 288 | 231 | 281 | 301 | 335 | 293 |
| Expenses | 267 | 239 | 279 | 216 | 230 | 238 | 278 | 221 | 274 | 293 | 321 | 282 |
| Operating Profit | 14.09 | 12.70 | 13.04 | 8.96 | 6.85 | 9.61 | 11.06 | 10.13 | 9.01 | 8.86 | 15.33 | 12.02 |
| OPM % | 5.0% | 5.1% | 4.5% | 4.0% | 2.9% | 3.9% | 3.8% | 4.4% | 3.2% | 2.9% | 4.6% | 4.1% |
| Other Income | 0.22 | 0.24 | 0.69 | 0.41 | 0.23 | 0.19 | 1.06 | 0.10 | 0.36 | 2.50 | −1.37 | 0.31 |
| Interest | 5.65 | 4.82 | 4.53 | 3.01 | 2.85 | 2.57 | 2.82 | 3.69 | 3.78 | 4.47 | 4.03 | 3.94 |
| Depreciation | 1.86 | 2.01 | 2.72 | 2.31 | 2.66 | 2.76 | 2.72 | 2.41 | 3.77 | 4.77 | 5.85 | 5.83 |
| Profit before tax | 6.85 | 6.21 | 6.55 | 4.10 | 1.60 | 4.49 | 6.63 | 4.16 | 1.87 | 2.16 | 4.15 | 2.63 |
| Tax % | 24.4% | 30.4% | 25.3% | 26.2% | 45.3% | 23.9% | 33.2% | 24.8% | 24.4% | 23.5% | 37.9% | 26.3% |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | −0.83 | 0.00 |
| Net Profit | 5.19 | 4.32 | 4.90 | 3.03 | 0.90 | 3.44 | 4.45 | 3.15 | 1.43 | 1.67 | 2.58 | 1.94 |
| EPS (Rs) | 3.64 | 3.03 | 2.57 | 1.58 | 0.46 | 1.80 | 2.33 | 1.65 | 0.74 | 0.87 | 1.35 | 1.01 |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 599 | 556 | 510 | 818 | 1,111 | 1,072 | 994 | 1,148 | 1,211 |
| Expenses | 578 | 529 | 492 | 791 | 1,071 | 1,028 | 963 | 1,110 | 1,170 |
| Operating Profit | 23.92 | 29.89 | 19.93 | 29.89 | 45.83 | 48.80 | 36.85 | 42.87 | 45.22 |
| OPM % | 3.9% | 5.0% | 3.9% | 3.6% | 4.1% | 4.5% | 3.7% | 3.8% | 3.7% |
| Other Income | 6.01 | 1.01 | 1.01 | 0.00 | 1.01 | 2.01 | 2.01 | 2.01 | 1.80 |
| Interest | 14.04 | 16.05 | 9.02 | 9.03 | 12.05 | 18.05 | 11.04 | 16.06 | 16.22 |
| Depreciation | 7.01 | 7.01 | 7.01 | 6.02 | 6.01 | 8.01 | 10.02 | 17.03 | 20.22 |
| Profit before tax | 8.99 | 7.99 | 5.01 | 14.99 | 28.01 | 24.01 | 16.99 | 11.99 | 10.81 |
| Tax % | 26.9% | 34.9% | 42.9% | 25.9% | 24.9% | 25.9% | 29.9% | 28.9% | — |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.33 | −0.95 | −0.83 |
| Net Profit | 6.01 | 5.01 | 3.01 | 11.01 | 21.04 | 18.02 | 12.01 | 9.01 | 7.62 |
| EPS (Rs) | 4.39 | 3.56 | 2.01 | 7.96 | 14.82 | 9.31 | 6.19 | 4.63 | 3.97 |
| Dividend payout % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 14.02 | 14.02 | 14.05 | 14.04 | 14.03 | 19.07 | 19.04 | 19.04 |
| Reserves | 41.02 | 45.98 | 48.07 | 58.08 | 79.04 | 159 | 169 | 178 |
| Borrowings | 134 | 104 | 77.30 | 127 | 153 | 143 | 172 | 194 |
| Other Liabilities | 67.33 | 43.20 | 30.14 | 50.24 | 48.23 | 64.30 | 115 | 49.23 |
| Total Liabilities | 257 | 208 | 171 | 250 | 295 | 384 | 474 | 440 |
| Fixed Assets | 62.09 | 57.09 | 52.12 | 50.06 | 54.05 | 69.12 | 69.05 | 163 |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 12.01 | 67.96 | 19.99 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Assets | 194 | 151 | 118 | 200 | 240 | 303 | 338 | 257 |
| Inventories | 85.94 | 84.90 | 50.91 | 101 | 120 | 171 | 191 | 123 |
| Trade receivables | 75.18 | 46.04 | 43.07 | 45.05 | 54.06 | 51.08 | 72.09 | 55.05 |
| Cash & equivalents | 6.97 | 6.98 | 14.95 | 20.91 | 25.88 | 23.89 | 18.94 | 15.94 |
| Total Assets | 257 | 208 | 171 | 250 | 295 | 384 | 474 | 440 |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | −9.03 | 34.12 | 44.15 | −35.12 | 7.02 | 6.02 | 36.13 | 61.23 |
| Cash from investing activity | −20.05 | 11.02 | 0.00 | −4.01 | −16.04 | −42.14 | −58.19 | −70.25 |
| Cash from financing activity | 24.07 | −45.13 | −36.09 | 44.12 | 13.04 | 35.09 | 16.05 | 6.02 |
| Net cash flow | −4.98 | 0.00 | 7.97 | 5.98 | 4.98 | −0.99 | −4.98 | −2.99 |
| Capex | 16.99 | 2.01 | 2.01 | 3.99 | 10.99 | 32.98 | 67.04 | 64.01 |
| Free cash flow | −26.01 | 31.98 | 42.98 | −38.01 | −4.01 | −27.01 | −20.98 | −2.99 |
| CFO / OP % | −28.0% | 123.0% | 233.0% | −111.0% | 25.0% | 27.0% | 111.0% | 150.0% |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor days | 46 | 30 | 31 | 20 | 18 | 17 | 26 | 18 |
| Inventory days | 58 | 63 | 40 | 49 | 42 | 64 | 77 | 43 |
| Days payable | 43 | 29 | 22 | 22 | 16 | 22 | 37 | 11 |
| Cash conversion cycle | 62 | 65 | 50 | 48 | 45 | 60 | 68 | 51 |
| Working capital days | 72 | 22 | 19 | 7 | 7 | 26 | 25 | 10 |
| ROCE % | — | 13.0% | 9.0% | 14.0% | 18.0% | 15.0% | 8.0% | 8.0% |
For the Jun 2026 quarter, Vibhor Steel Tubes reported sales of ₹293 Cr, up 27.1% year on year and net profit of ₹1.94 Cr, down 38.4% year on year. The operating margin was 4.1%.
Vibhor Steel Tubes' sales for the year to Mar 2026 were ₹1,148 Cr; over the last twelve months they were ₹1,211 Cr.
Net profit for the year to Mar 2026 was ₹9.01 Cr, and ₹7.62 Cr over the last twelve months. Earnings per share over the same trailing period were ₹3.97.
Vibhor Steel Tubes reported borrowings of ₹194 Cr at Mar 2026, against cash and equivalents of ₹15.94 Cr.
Cash from operations was ₹61.23 Cr in the year to Mar 2026; after capital spending, free cash flow was −₹2.99 Cr.