Vibhor Steel Tubes Ltd
NSE: VSTL · Iron & Steel Products · sector
₹94.75NSE close 2026-10-26
Key numbers
Market cap₹180 cr
Price₹94.75
52w high / low₹153 / ₹94
P/E23.7xSector median 15.5x
P/B0.9xSector median 1.7x
Book value₹103.9
Dividend yield–Sector median 0.60%
ROE3.9%Sector median 11.1%
ROCE6.9%Sector median 11.9%
OPM3.6%Sector median 6.7%
Debt / equity0.98xSector median 0.21x
EV/EBITDA8.1xSector median 11.8x
Interest cover1.7x
Current ratio1.25x
Sales growth 3y–Sector median +2.1%
Profit growth 3y–Sector median +13.0%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 118 companies in Iron & Steel Products (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹16 cr vs borrowings ₹192 cr (FY26): borrowings are higher by ₹176 cr.
- Operating profit covered interest 1.7x in the last 12 months.
- Promoter holding rose by 1.30 percentage points in a year, to 74.96% (2026-09-30).
- Operating cash flow was below net profit in 1 of the last 3 years (FY24).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 41% of net profit in the last 12 months.
- No dividend in the last 3 financial years.
- Price ₹94.75 on 2026-10-26: -38.1% from the 52-week high, +1.2% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹261.00 · low ₹94.75
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 236 | 247 | 288 | 231 | 282 | 302 | 335 | 294 |
| EBITDA | 7 | 10 | 11 | 10 | 9 | 9 | 14 | 12 |
| OPM % | 2.9% | 3.9% | 3.9% | 4.4% | 3.2% | 3.0% | 4.2% | 4.1% |
| Other income | 0 | 0 | 1 | 0 | 0 | 2 | -0 | 0 |
| Net profit | 1 | 3 | 4 | 3 | 1 | 2 | 3 | 2 |
| EPS (₹) | 0.47 | 1.81 | 2.34 | 1.66 | 0.75 | 0.87 | 1.36 | 1.02 |
| Revenue YoY | +19.3% | +21.9% | +16.2% | +27.2% | ||||
| Profit YoY | +59.6% | -51.6% | -42.1% | -38.5% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|
| Revenue | 1,073 | 996 | 1,149 | 1,212 |
| EBITDA | 49 | 37 | 42 | 44 |
| Net profit | 18 | 12 | 9 | 8 |
| EPS (₹) | 9.34 | 6.21 | 4.64 | 4.00 |
| Revenue growth | -7.1% | +15.4% | +20.9% | |
| Profit growth | -33.6% | -25.3% | -36.2% | |
| Dividend / share (₹) | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | – | – | +20.9% |
| Net profit | – | – | -36.2% |
| EPS | – | – | – |
| Share price | – | -37.9% (2y) | -36.2% |
Balance sheet
| ₹ cr | FY24 | FY25 | FY26 |
|---|---|---|---|
| Shareholders' equity | 178 | 188 | 197 |
| Borrowings | 142 | 171 | 192 |
| Cash & equivalents | 24 | 19 | 16 |
| Total assets | 383 | 473 | 439 |
| Fixed assets | 69 | 69 | 161 |
| Capital work in progress | 12 | 68 | 20 |
| Investments | 0 | 0 | 0 |
| Receivables | 51 | 72 | 55 |
| Inventory | 171 | 191 | 123 |
| Payables | 56 | 87 | 27 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY24 | FY25 | FY26 |
|---|---|---|---|
| Cash from operations | 6 | 36 | 54 |
| Cash from investing | -44 | -58 | -63 |
| Cash from financing | 37 | 16 | 6 |
| Capex | 34 | 67 | 64 |
| Free cash flow | -28 | -31 | -10 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY24 | FY25 | FY26 |
|---|---|---|---|
| ROE % | 10.0% | 6.3% | 4.5% |
| ROCE % | 13.2% | 7.8% | 7.3% |
| Debtor days | 17 | 26 | 18 |
| Inventory days | 65 | 78 | 44 |
| Payable days | 21 | 36 | 10 |
| Cash conversion cycle (days) | 61 | 68 | 52 |
| Working capital days | 34 | 32 | 15 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 74.96% |
| FIIs | 0.03% |
| Public (non-institutions) | 25.02% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 73.48% | 73.66% | 73.66% | 73.66% | 73.66% | 74.62% | 74.74% | 74.96% |
| Promoter group | % |
|---|---|
| Vijay Laxmi Kaushik | 22.83% |
| Vijay Kumar Kaushik | 22.21% |
| Vibhor Kaushik | 18.30% |
| Vijay Kaushik HUF | 7.83% |
| Pratima Sandhir | 1.95% |
| Vibhor Kaushik HUF | 1.04% |
| RN Securities Private Limited | 0.79% |
26,429 shareholders. Pledged: – of promoter shares.
Peers in Iron & Steel Products
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| WELCORP | ₹61,798 cr | 26.7x | 6.8x | 27.8% | 19.2% | 13.9% | +19.8% | 0.21% |
| APLAPOLLO | ₹57,703 cr | 46.9x | 10.9x | 25.9% | 30.1% | 8.0% | +12.6% | 0.28% |
| SHYAMMETL | ₹31,351 cr | 28.0x | 2.7x | 7.8% | 14.2% | 12.9% | +13.7% | 0.36% |
| RATNAMANI | ₹16,345 cr | 37.8x | 4.0x | 11.2% | 15.7% | 16.7% | +0.1% | 0.60% |
| JINDALSAW | ₹14,824 cr | 26.9x | 1.2x | 4.4% | 7.2% | 9.5% | +0.1% | 0.86% |
| USHAMART | ₹14,192 cr | 27.9x | 4.3x | 16.8% | 20.1% | 19.6% | +4.1% | 0.64% |
| GALLANTT | ₹12,989 cr | 31.9x | 3.7x | 12.4% | 14.2% | 13.8% | +3.1% | 0.08% |
| GPIL | ₹11,769 cr | 14.6x | 2.0x | 15.1% | 18.7% | 21.4% | -2.2% | 0.54% |
| JAYNECOIND | ₹8,607 cr | 12.5x | 2.6x | 23.4% | 25.6% | 18.9% | +4.0% | – |
| VSTL | ₹180 cr | 23.7x | 0.9x | 3.9% | 6.9% | 3.6% | – | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2024-09-19 | Other | Annual General Meeting |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Announcements NSE filings
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
| Sector | Industrials |
| Industry | Iron & Steel Products |
| Sub-industry | Iron & Steel Products |
| Symbol | VSTL |
| BSE code | 544124 |
| ISIN | INE0QTF01015 |
| Face value | ₹10.0 |
| Incorporated | – |
| Website | – |
| Plants (India / abroad) | – |
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.