Price
Financials
Standalone, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 280.17 | 251.01 | 291.20 | 224.75 | 236.09 | 247.25 | 288.30 | 230.96 | 281.76 | 301.50 | 335.13 | 293.69 |
| Expenses | 266.04 | 238.26 | 278.11 | 215.76 | 229.21 | 237.62 | 277.19 | 220.80 | 272.72 | 292.60 | 319.75 | 281.62 |
| Operating Profit | 14.13 | 12.75 | 13.09 | 8.99 | 6.88 | 9.63 | 11.11 | 10.16 | 9.04 | 8.90 | 15.38 | 12.07 |
| OPM % | 5.04% | 5.08% | 4.50% | 4.00% | 2.91% | 3.89% | 3.85% | 4.40% | 3.21% | 2.95% | 4.59% | 4.11% |
| Other Income | 0.21 | 0.25 | 0.68 | 0.42 | 0.22 | 0.18 | 1.05 | 0.09 | 0.37 | 2.49 | -1.36 | 0.30 |
| Interest | 5.63 | 4.80 | 4.52 | 3.00 | 2.84 | 2.56 | 2.81 | 3.68 | 3.77 | 4.46 | 4.02 | 3.93 |
| Depreciation | 1.85 | 2.00 | 2.71 | 2.30 | 2.65 | 2.75 | 2.71 | 2.40 | 3.76 | 4.76 | 5.84 | 5.82 |
| Profit before tax | 6.86 | 6.20 | 6.54 | 4.11 | 1.61 | 4.50 | 6.64 | 4.17 | 1.88 | 2.17 | 4.16 | 2.62 |
| Tax % | 24.49% | 30.48% | 25.38% | 26.28% | 45.34% | 24.00% | 33.28% | 24.94% | 24.47% | 23.50% | 37.98% | 26.34% |
| Net Profit | 5.18 | 4.31 | 4.89 | 3.02 | 0.89 | 3.43 | 4.44 | 3.14 | 1.42 | 1.66 | 2.57 | 1.93 |
| EPS in Rs | 3.65 | 3.04 | 2.58 | 1.59 | 0.47 | 1.81 | 2.34 | 1.66 | 0.75 | 0.88 | 1.36 | 1.02 |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 600 | 557 | 511 | 818 | 1,113 | 1,073 | 996 | 1,149 | 1,212 |
| Expenses | 576 | 528 | 491 | 788 | 1,068 | 1,024 | 960 | 1,106 | 1,167 |
| Operating Profit | 24 | 30 | 20 | 30 | 46 | 49 | 36 | 43 | 45 |
| OPM % | 3.9% | 5% | 3.9% | 3.6% | 4.1% | 4.5% | 3.7% | 3.8% | 3.7% |
| Other Income | 6 | 1 | 1 | 0 | 1 | 2 | 2 | 2 | 2 |
| Interest | 14 | 16 | 9 | 9 | 12 | 18 | 11 | 16 | 16 |
| Depreciation | 7 | 7 | 7 | 6 | 6 | 8 | 10 | 17 | 20 |
| Profit before tax | 9 | 8 | 5 | 15 | 28 | 24 | 17 | 12 | 11 |
| Tax % | 27% | 35% | 43% | 26% | 25% | 26% | 30% | 29% | |
| Net Profit | 6 | 5 | 3 | 11 | 21 | 18 | 12 | 9 | 8 |
| EPS in Rs | 4.41 | 3.57 | 2.02 | 7.99 | 14.86 | 9.34 | 6.21 | 4.64 | 4.01 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 18% | 1% | 21% | ||
| Compounded Profit Growth | % | 28% | -23% | -29% | ||
| Stock Price CAGR | % | % | % | -29% | ||
| Return on Equity | % | 11% | 8% | 5% |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 14 | 14 | 14 | 14 | 14 | 19 | 19 | 19 |
| Reserves | 41 | 46 | 48 | 58 | 79 | 159 | 169 | 178 |
| Borrowings | 134 | 104 | 77 | 127 | 152 | 142 | 171 | 193 |
| Other Liabilities | 67 | 43 | 30 | 50 | 48 | 64 | 114 | 49 |
| Total Liabilities | 256 | 207 | 170 | 249 | 294 | 383 | 473 | 439 |
| Fixed Assets | 62 | 57 | 52 | 50 | 54 | 69 | 69 | 163 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 12 | 68 | 20 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 193 | 151 | 118 | 199 | 239 | 302 | 337 | 256 |
| Total Assets | 256 | 207 | 170 | 249 | 294 | 383 | 473 | 439 |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -9 | 34 | 44 | -35 | 7 | 6 | 36 | 61 |
| Cash from Investing Activity | -20 | 11 | 0 | -4 | -16 | -42 | -58 | -70 |
| Cash from Financing Activity | 24 | -45 | -36 | 44 | 13 | 35 | 16 | 6 |
| Net Cash Flow | -5 | 0 | 8 | 6 | 5 | -1 | -5 | -3 |
| Free Cash Flow | -26 | 32 | 43 | -38 | -4 | -27 | -21 | 1 |
| CFO/OP | -28% | 123% | 233% | -111% | 25% | 27% | 112% | 150% |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 46 | 30 | 31 | 20 | 18 | 17 | 26 | 18 |
| Inventory Days | 59 | 64 | 41 | 50 | 43 | 65 | 78 | 44 |
| Days Payable | 42 | 28 | 21 | 21 | 15 | 21 | 36 | 10 |
| Cash Conversion Cycle | 63 | 66 | 51 | 49 | 46 | 61 | 69 | 52 |
| Working Capital Days | 72 | 22 | 19 | 7 | 7 | 26 | 25 | 10 |
| ROCE % | 13% | 9% | 14% | 18% | 15% | 8% | 8% |
| Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 73.48% | 73.48% | 73.48% | 73.48% | 73.65% | 73.65% | 73.65% | 73.65% | 74.62% | 74.74% |
| FIIs | 1.83% | 1.02% | 0.13% | 0.04% | 0.16% | 0.16% | 0.07% | 0.03% | 0.31% | 0.15% |
| DIIs | 0.90% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Public | 23.79% | 25.50% | 26.40% | 26.48% | 26.18% | 26.18% | 26.29% | 26.32% | 25.07% | 25.11% |
| No. of Shareholders | 35,955 | 34,035 | 31,368 | 30,293 | 30,712 | 29,867 | 29,719 | 28,628 | 27,711 | 27,072 |
Fundamentals
Market Cap₹ 209 Cr.
Current Price₹ 111
Stock P/E24.9
Book Value₹ 104
ROCE7.92 %
ROE5.05 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)21%
Compounded Profit Growth (TTM)-29%
Standalone figures.
Valuation
Market capRs 206 Cr
Enterprise valueRs 324 Cr
P/E (TTM)27.23x
Price to book1.16x
Price to sales0.17x
EV / EBITDA6.86x
EV / EBIT11.99x
EV / sales0.27x
Price to cash flow35.16x
Earnings yield3.67%
P/E, 3-year average26.82x
P/B, 3-year average2.67x
P/E, 5-year average26.82x
P/B, 5-year average2.67x
Profitability
Operating margin (excl. other income)4.55%
Operating margin (incl. other income)4.70%
EBITDA margin3.89%
Pre-tax margin0.89%
Net profit margin0.63%
Net margin, latest quarter0.66%
ROE13.08%
ROCE14.93%
ROA5.24%
ROE, 3-year average18.47%
ROCE, 3-year average15.78%
ROA, 3-year average6.14%
ROE, 5-year average13.79%
ROCE, 5-year average14.00%
ROA, 5-year average4.43%
ROIC (approx.)6.73%
Tax rate26.47%
Other income / net worth0.93%
Growth
Sales growth (latest year)-3.63%
Profit growth (latest year)-15.90%
Sales CAGR, 3 years28.02%
Sales CAGR, 5 years12.33%
Profit CAGR, 3 years83.45%
Profit CAGR, 5 years23.17%
Sales growth QoQ-12.37%
Profit growth QoQ-24.90%
Sales growth YoY (latest quarter)27.16%
Profit growth YoY (latest quarter)-38.53%
Per share
EPS (TTM)Rs 4.00
EPS (latest year)Rs 9.34
EPS (latest quarter)Rs 1.02
EPS, 3-year averageRs 10.73
EPS, 5-year averageRs 7.56
Book value per shareRs 93.75
Sales per shareRs 639.20
Cash flow per shareRs 3.10
Free cash flow per shareRs 0.53
Efficiency
Asset turnover2.80x
Fixed asset turnover15.57x
Inventory turnover5.81x
Inventory days63 days
Debtor days17 days
Debtors turnover21.06x
Creditor days10 days
Cash conversion cycle52 days
Working capital days10 days
Leverage
Total debtRs 142 Cr
Cash and bankRs 24 Cr
Net debtRs 117 Cr
Debt to equity0.80x
Net debt / EBITDA2.49x
Interest coverage1.67x
Owners' fund to total sources46.39%
Debt to assets36.94%
Cash flow
Cash from Operating Activity (latest year)Rs 6 Cr
Cash from Investing Activity (latest year)Rs -42 Cr
Cash from Financing Activity (latest year)Rs 35 Cr
Net Cash Flow (latest year)Rs -1 Cr
Free cash flow (latest year)Rs 1 Cr
FCFE (approx.: FCF + change in debt)Rs -10 Cr
Cash from ops / profit, 5 years1.06x
Sales to cash flow182.74x
Statement figures
Net sales (TTM)Rs 1,212 Cr
Net sales (latest year)Rs 1,073 Cr
Sales (latest quarter)Rs 294 Cr
Operating profit excl. other income (latest year)Rs 49 Cr
Operating profit (latest quarter)Rs 12 Cr
Other income (TTM)Rs 2 Cr
EBITDA (TTM)Rs 47 Cr
PBDT (TTM)Rs 31 Cr
Profit before tax (TTM)Rs 11 Cr
Tax (latest year)Rs 6 Cr
Net profit (TTM)Rs 8 Cr
Net profit (latest year)Rs 18 Cr
Net profit (latest quarter)Rs 2 Cr
Depreciation (TTM)Rs 20 Cr
Depreciation (latest quarter)Rs 6 Cr
Interest (TTM)Rs 16 Cr
Cost of goods sold (latest year)Rs 993 Cr
Total expenditure (latest year)Rs 1,024 Cr
Total income (latest year)Rs 1,074 Cr
Share capitalRs 19 Cr
ReservesRs 159 Cr
Shareholders' fundsRs 178 Cr
Total assetsRs 383 Cr
Net blockRs 69 Cr
Capital work in progressRs 12 Cr
ReceivablesRs 51 Cr
InventoryRs 171 Cr
Other liabilitiesRs 64 Cr
Shares outstanding (crore)1.90
Ownership
Promoter holding74.74% (+1.09 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 27.2 is at the 55th percentile of its own 2.8-year range
(median 25.2, low 17.9, high 211.3).
P/B 1.16 is the lowest in 2.8 years (median 3.31).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | VSTL | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -3.6% | -2.8% | -0.8 pts |
| 1 month | -2.7% | -6.8% | +4.1 pts |
| 3 months | -4.4% | -7.6% | +3.2 pts |
| 6 months | +6.5% | +0.4% | +6.0 pts |
| 1 year | -30.7% | -9.9% | -20.8 pts |
| 2 years | -58.3% | -13.6% | -44.7 pts |
Red flags
F-score 4 of 8| explain | Weak cash conversion Cash from operations was -43% of net profit over the last 3 years |
| explain | Share dilution Share count up 34% in a year, 34% in three |
| look | Inventory outrunning sales Inventory grew 42% vs sales -4% in 2026 |
| look | Auditor change Auditor change 2026-08-06: Vibhor Steel Tubes Limited has informed the Exchange regarding Change in Auditors of the company. |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹294 Cr +27.2% vs Jun 2025.
Net profit ₹2 Cr -38.5%.
Against our estimate for Jun 2026: sales +6.8%, profit +6.5% in line. Our estimate for Sep 2026: sales Rs 343 Cr, profit Rs 2 Cr (how).
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| Welspun Corp Ltd | 74,969 | 32.5 | 22.9 % |
| APL Apollo Tubes Ltd | 60,768 | 49.4 | 31.8 % |
| Shyam Metalics & Energy Ltd | 29,979 | 26.7 | 13.0 % |
| Ratnamani Metals & Tubes Ltd | 19,859 | 45.3 | 17.9 % |
| Jindal Saw Ltd | 17,759 | 27.2 | 10.4 % |
| Usha Martin Ltd | 15,204 | 27.9 | 19.5 % |
| Godawari Power & Ispat Ltd | 14,902 | 18.2 | 20.5 % |
| Gallantt Ispat Ltd. | 13,007 | 29.8 | 18.2 % |
| Maharashtra Seamless Ltd | 9,672 | 13.1 | 14.3 % |
| Jayaswal Neco Industries Ltd | 8,997 | 15.7 | 20.7 % |
| Sunflag Iron & Steel Company Ltd | 8,368 | 39.4 | 4.07 % |
| Man Industries (India) Ltd | 7,198 | 35.2 | 16.2 % |
| Aeroflex Industries Ltd | 7,141 | 106 | 18.9 % |
| Technocraft Industries (India) Ltd | 6,635 | 19.5 | 16.3 % |
| Shivalik Bimetal Controls Ltd | 6,402 | 60.1 | 26.6 % |
No bulk or block deals on record.
| Ex-date | Action | Factor |
|---|---|---|
| 2024-09-19 | Annual General Meeting |
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of Vibhor Steel Tubes Ltd?
Vibhor Steel Tubes Ltd (VSTL) has a market capitalisation of Rs 209 Cr. at the 2026-10-01 close.
What is the P/E ratio of Vibhor Steel Tubes Ltd?
Vibhor Steel Tubes Ltd trades at a P/E of 24.9 on trailing twelve-month profit, at the 2026-10-01 close.
What were Vibhor Steel Tubes Ltd's latest quarterly results?
In the Jun 2026 quarter, Vibhor Steel Tubes Ltd sales was Rs 294 Cr (+27.2% vs Jun 2025) and net profit was Rs 2 Cr.
What is the 52-week high and low of Vibhor Steel Tubes Ltd?
The 52-week high is Rs 158.80 and the 52-week low is Rs 100.80.