Vibhor Steel Tubes Limited has released the complete transcript of its Q3FY26 earnings call held on February 19, 2026, providing detailed insights into the company's performance and strategic expansion plans. The transcript, filed under SEBI Regulation 30, is now available on the company's website alongside the previously released audio recording.

Strong Q3FY26 Financial Performance

The company demonstrated robust revenue growth during the third quarter, with Managing Director Vibhor Kaushik highlighting significant year-over-year improvements:

Revenue surged by 21.94% YoY to ₹301.50 crore, driven primarily by the Odisha plant's operational ramp-up and increased production capacity utilization.

Nine-Month Performance Highlights

For the nine-month period ending December 31, 2025, the company maintained strong operational momentum:

Odisha Plant Reaches Full Capacity

Kaushik revealed that the Jharsuguda plant has achieved maximum galvanizing capacity utilization, necessitating immediate expansion. The facility has successfully established market presence in the northeastern region and is now operating at optimal levels across multiple product lines.

Strategic Expansion and CAPEX Plans

The company announced significant capital expenditure plans for FY26, with approximately ₹10 crore allocated for capacity expansion:

Product Diversification Strategy

The earnings call highlighted the company's successful diversification beyond traditional ERW pipes into higher-margin products:

Manufacturing Infrastructure

The company operates three strategically located manufacturing units with total installed capacity of 3,77,000 MTPA:

Kaushik projected the Odisha unit to reach 30-40% capacity utilization in the next year, with potential to achieve 60% utilization within two years based on current order momentum and market demand.

Vibhor Steel Tubes Limited has reported strong financial performance for the third quarter ended December 31, 2025, with EBITDA growing 16% to Rs 11.39 crore compared to Rs 9.81 crore in the same period last year. The company's total revenue increased by 23% to Rs 303.99 crore during the quarter under review, compared with Rs 247.43 crore in the previous year.

Q3FY26 Financial Performance

The company demonstrated robust operational performance across key financial metrics during the third quarter:

Nine Months Performance and Operations

For the nine months ended December 31, 2025, the company reported net profit of Rs 6.22 crore while operating income grew by 15% to Rs 814.22 crore. The strong performance was driven by robust demand from infrastructure and real estate sectors, supported by the government's sustained emphasis on infrastructure and manufacturing.

New Facility Operations and Product Portfolio

Vibhor Steel Tubes recently commenced supply from its greenfield plant located at Sundargarh in Odisha, which started commercial production in June 2025. The facility represents a total investment of Rs 119.83 crore with a capacity of 156,000 MTPA.

The company manufactures steel products including electric resistance welded pipes, hot-dipped galvanized pipes, hollow section pipes, primer painted pipes, metal beam barriers, transmission towers, high mast lighting poles, octagonal poles and monopoles. Over 80% of total turnover comes from its contract manufacturing agreement with Jindal Pipes under the brand name Jindal Star.

Management Commentary and Market Position

Commenting on the performance, Vijay Kaushik, Chairman and Executive Director, stated that the healthy growth in turnover was backed by robust demand for steel from infrastructure and real estate sectors. He emphasized the company's ability to garner a sizeable share of demand for value-added steel with the new capacity now onstream.

Manufacturing Operations and Market Reach

The company operates three manufacturing units across Maharashtra, Telangana, and Odisha with a total capacity of 377,000 MTPA. The facilities supply products to western and southern markets including Maharashtra, Gujarat, Madhya Pradesh, Telangana, Karnataka and Tamil Nadu. The Raigad facility in Maharashtra handles 100% of export sales.

Earnings Call Schedule

The company has scheduled an earnings conference call for February 19, 2026, at 3:00 PM to discuss Q3 and nine months FY2026 financial and operational performance. The call details were filed under Regulation 30 of SEBI (LODR) Regulations 2015.