What was Vibhor Steel Tubes's revenue in Q3 FY26?

Vibhor Steel Tubes reported revenue of ₹301 Cr in Q3 FY26, a +21.8% change year-over-year.

Did Vibhor Steel Tubes management deliver on previous promises?

Scorecard data is being built as historical quarters are processed.

Vibhor Steel Tubes Q3 FY26 Research Workspace: Revenue ₹301 Cr (+21.8%)

Q: What guidance did Vibhor Steel Tubes management give?

Jajpur plant capacity utilization to reach 30-40% in FY27: Management expects the Jajpur plant to achieve 30-40% capacity utilization in the next fiscal year, up from 21% in December.

Revenue ₹301 Cr +21.8%

EBITDA —

PAT —

EBITDA Margin —

Duration 37 min

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2-Minute Summary

✦ AI-Generated from Full Transcript

Vibhor Steel Tubes reported Q3 FY26 revenue of ₹301.1 crore, up 21% YoY, driven by the ramp-up of the Jajpur (Odisha) plant which reached 21% capacity utilization in December. The company's legacy Maharashtra and Telangana plants continue to operate at 70-72% capacity. Management highlighted that the metal crash barrier division is running at full capacity (1,000 tons/month at each plant), prompting expansion with new machines and a second galvanizing line in Jajpur. New products like transmission line towers, monopoles, and poles are gaining traction, with EBITDA margins expected to be higher (5-10%) than pipes (3.5-3.8%). Capex of ~₹10 crore is planned for FY26. Key risk: high dependence on Jindal (80% of revenue) and execution delays in certification for new products.

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Research workspace

Focused Modules

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Risk Intelligence

High customer concentration (Jindal)

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Quarter Snapshot

Jajpur Plant Capacity Utilization (Dec) 21%

+21pp vs. prior quarter

Jajpur plant reached 21% of installed capacity in December, up from near zero in Q2.

Metal Crash Barrier Monthly Production 1,000 tons

+100% YoY

Both Hyderabad and Jajpur plants are at full capacity of 1,000 tons/month each.

Revenue Share from New Products (Non-Pipe) 20%

N/A

Management expects new products (crash barrier, poles, towers) to contribute 20% of revenue soon.

Order Inquiries for Crash Barrier 2,000 tons

N/A

Inquiries exceed current capacity by 2,000 tons, driving expansion plans.

Fast read

Guidance and risk preview

Top guidance Jajpur plant capacity utilization to reach 30-40% in FY27

Management expects the Jajpur plant to achieve 30-40% capacity utilization in the next fiscal year, up from 21% in December.

Top risk High customer concentration (Jindal)

Approximately 80% of revenue comes from Jindal, posing a risk if the relationship sours or demand drops.