Vibhor Steel Tubes Limited has announced the resignation of a key senior management personnel, marking a significant change in its leadership structure. The steel tube manufacturer has informed stock exchanges about this development in compliance with regulatory requirements.

Senior Management Departure

Mr. Akula Laxman Rao, who served as Head - Accounts & Finance, has tendered his resignation from the company's services. The resignation has been accepted by the company and becomes effective from the close of business hours on January 19, 2026.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement was made to both BSE Limited and National Stock Exchange of India Limited, where the company's shares are listed under scrip code 544124 and symbol VSTL respectively.

Ms. Pallavi Aggarwal, Company Secretary & Compliance Officer, signed the official communication on behalf of Vibhor Steel Tubes Limited. The disclosure includes all required details as per SEBI Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Transition Arrangements

In his resignation letter addressed to the Managing Director, Mr. Rao expressed his commitment to ensuring a smooth transition. He stated that he would provide all necessary assistance during the handover period and ensure proper transfer of his responsibilities.

Mr. Rao also acknowledged the support and cooperation extended by the Board of Directors, management, and colleagues during his tenure with the company. The resignation letter emphasized his intention to facilitate an orderly transition of his duties.

Company Operations

Vibhor Steel Tubes Limited operates manufacturing units across three states in India. The company has facilities in Maharashtra at Pipe Nagar, Telangana at Udithyala village, and Odisha at Podbahal. The company's registered office is located in Hisar, Haryana, and it was formerly known as Vibhor Steel Tubes Private Limited.

Vibhor Steel Tubes Limited conducted an investor update conference call on January 07, 2026, where Managing Director Vibhor Kaushik presented the company's strong operational and financial performance for Q2 FY26. The steel tube manufacturer reported significant growth across key metrics while successfully expanding its product portfolio and geographic presence.

Strong Financial Performance in Q2 FY26

The company delivered robust financial results for the quarter, demonstrating strong operational momentum across all business segments.

The company's EBITDA margins remained healthy and consistent, reflecting stable operational efficiency despite the expansion activities. The achievement of 51% revenue in the first half signals sustained market demand and effective execution capabilities.

Odisha Plant Operations Commence Successfully

The newly commissioned Odisha plant in Sundargarh has exceeded initial expectations, becoming operational across multiple product lines. Located strategically between Sundargarh and Jharsuguda, the facility provides access to abundant raw materials from nearby steel plants including Steel Authority of India, JSW, Tata, and JSP.

The Odisha facility enables the company to serve previously inaccessible markets including Vishakhapatnam, Vijayawada, Nagpur, Raipur, and potential expansion into Patna. The strategic location offers cost advantages through reduced raw material logistics costs.

Product Diversification Strategy Gains Momentum

Vibhor Steel Tubes is successfully transitioning from a traditional pipe manufacturer to a comprehensive infrastructure solutions provider. The company targets achieving a 75:25 product mix, with 75% pipes and 25% value-added products offering higher margins.

Value-Added Product Portfolio

Highway Guardrails (Crash Barriers):

• Galvanizing plant in Hyderabad running at full capacity
• Strong order flow emerging in Odisha operations
• Margins similar to galvanized pipes with 0.2% premium
• Serving entire South India market from Hyderabad facility

Transmission Line Towers:

• EBITDA margins 3-4% higher than traditional pipes
• State approvals obtained in Gujarat, Sikkim, and Meghalaya
• Power Grid Corporation inspection completed
• Significant market opportunity from solar plant connectivity requirements

Poles and Monopoles:

• Margins 2-3% higher than pipes for standard poles
• Monopole margins potentially 8-10% or higher
• 132 kVA prototype under development for testing

Enhanced Manufacturing Capacity and Utilization

With the Odisha plant operational, the company's total installed capacity has increased to 377,000 metric tons annually across three manufacturing locations.

The company maintains a warehouse facility in Hisar for northern market access, though current production is being absorbed locally due to strong regional demand.

Export Operations and Market Expansion

Vibhor Steel Tubes maintains steady export operations at 3-5% of total sales, primarily serving 11 countries in Europe and the UK. The company has been exporting pipes for over 20 years and is now exploring export opportunities for value-added products from the Odisha facility.

The export strategy focuses on capacity optimization, ensuring galvanizing units remain fully utilized even during domestic demand fluctuations. With increased capacity from Odisha, the company can better serve international inquiries while maintaining domestic market commitments.

Strong Order Book and Market Outlook

The company reported healthy order books across all locations, reflecting strong market demand and successful market penetration.

Management highlighted that recent steel price increases of ₹3,000 per ton, driven by anti-dumping duties and safeguard measures against Chinese imports, have created favorable market conditions. The company's inventory position of over 25,000 tons is expected to benefit from these price improvements.

Strategic Partnerships and Market Position

Vibhor Steel Tubes maintains a strong partnership with Jindal Pipes for the pipe division, with the Odisha facility addressing the 20-year gap in Northeast market presence. The company operates through a dealer network model rather than direct tendering, focusing on building strong distribution channels across all product segments.

The management expressed confidence in achieving higher capacity utilization rates, particularly targeting 30% utilization at the Odisha facility by Q4 FY26, while maintaining full capacity utilization at the Maharashtra and Telangana plants.