PLEASE FIND ENCLOSED UN-AUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2025
VSTL · price
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Vibhor Steel Tubes reported Q3 FY26 revenue from operations of Rs. 301.5 crore, up about 22% year-on-year from Rs. 247.2 crore in Q3 FY25. For the nine months ended December 2025, revenue grew roughly 15% to Rs. 814.2 crore versus Rs. 708.1 crore a year ago. However, profitability was weak: Q3 profit after tax (PAT) fell sharply to Rs. 1.66 crore from Rs. 3.43 crore, a drop of about 52% YoY, while 9M PAT declined around 15% to Rs. 6.22 crore from Rs. 7.33 crore. The squeeze came mainly from much higher raw material and finance costs, with Q3 finance costs nearly doubling to Rs. 4.46 crore and 9M finance costs tripling to about Rs. 11.9 crore, leading to a clear contraction in operating margins. The statutory auditor (Ashok Kumar Goyal & Co.) issued an unqualified limited review report with no qualifications or emphasis of matter.
Strong top-line growth is a positive, but sharply falling profits and rising finance costs are likely to weigh on the stock in the short term, as margins remain under pressure despite higher sales.