Vibhor Steel Tubes Limited has informed the Exchange about Transcript
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Vibhor Steel Tubes reported Q3 FY26 revenue of Rs. 301 Cr, up 21% year-on-year, driven by the ramp-up of its new Jharsuguda (Odisha) plant. Nine-month revenue stood at Rs. 814 Cr, a 15% YoY increase. Existing Maharashtra and Telangana plants are running steadily at 70-72% capacity, while Jharsuguda reached 21% utilisation in December and is expected to hit 30-40% next year and 60% in two years. Management highlighted that newer products have materially better margins: Crash Barriers at ~4.5% EBITDA, Transmission Line Towers above 5%, and Monopoles up to 10%, compared to ~3.5-3.8% for legacy pipes. The galvanizing tank at Jharsuguda is already at full capacity, prompting installation of a second (and potentially third) line. CAPEX is guided at ~Rs. 10 Cr for FY26 and ~Rs. 5 Cr for FY27.
Positive for shareholders — strong top-line growth, improving product mix toward higher-margin segments, and clear capacity expansion signal via the full galvanizing tank. However, customer concentration risk remains, with Jindal still accounting for ~80% of pipe revenue, which tempers the otherwise upbeat outlook.