Please find enclosed audited financial results for the quarter and year ended March 31st 2026
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Vibhor Steel Tubes reported annual revenue of Rs 1,149.35 Crores for FY26, up 15.35% from Rs 996.38 Crores in FY25. Profit After Tax declined 25.28% to Rs 879.34 Lacs from Rs 1,177.04 Lacs in the prior year. The profit decline was primarily due to an exceptional write-off of Rs 132 Lacs representing a capital advance to Punjab National Bank for a failed property acquisition through E-auction proceedings of Shiva Re Roller Private Limited. Without this one-time charge, pre-exceptional PBT would have been higher. The company also saw a significant working capital shift with operating cash flow dropping sharply. Auditors issued an unmodified opinion with no going concern issues.
The stock delivered strong revenue growth but profitability declined sharply due to the exceptional write-off. Investors should note the working capital deterioration and the failed acquisition attempt. The clean audit opinion provides some comfort about financial reporting quality.