Vibhor Steel Tubes Ltd (VSTL) — shareholding pattern, promoter holding, financials and share price
About Vibhor Steel Tubes Ltd (VSTL)
Vibhor Steel Tubes Ltd operates in the Iron & Steel Products industry, within the Capital Goods sector. It trades on the NSE as VSTL and on the BSE under scrip code 544124. Its ISIN is INE0QTF01015.
Incorporated in 2003, Vibhor Steel Tubes Ltd specializes in the production, export, and distribution of steel pipes and tubes [1]
Vibhor Steel Tubes Limited is a promoter-led Indian manufacturer of ERW steel pipes, hot-dipped galvanized pipes, hollow sections, crash barriers, poles and transmission line towers with three manufacturing units in Maharashtra, Telangana and Odisha and total installed capacity of 377,000 MTPA serving domestic infrastructure, EPC, utilities and select export markets.
Q3 FY26 revenues rose 21.94% YoY to ₹301.50 crore and 9MFY26 revenue grew 14.99% YoY to ₹814.22 crore, while EBITDA expanded 18.01% YoY to ₹31.06 crore for 9MFY26, yet PAT remains thin due to lower margins and initial ramp costs; EBITDA margin sits around 3.8% reflecting early-stage higher value product mix.
Listed peers in Iron & Steel Products: Suraj Products Ltd, Riddhi Steel & Tube Ltd, VMS TMT Ltd, Remi Edelstahl Tubulars Ltd, Rathi Steel & Power Ltd, Rudra Global Infra Products Ltd.
Valuation & Returns
10 Jul 2026At ₹114.8 a share on 10 Jul 2026, Vibhor Steel Tubes Ltd (VSTL) was valued at a price-to-earnings ratio of 24.77x against an industry P/E of 37x and a price-to-book of 1.16x on a book value of ₹99.21 per share as of Mar 2025. Solomo computes return on equity of 4.67% and return on capital employed of 7.89% from filed results. Earnings ratios use standalone results for the twelve months Jun 2025 to Mar 2026.
- P/E
- 24.77x
- Industry P/E
- 37x
- P/B
- 1.16x
- EPS (TTM)
- ₹4.64
- Book value / share
- ₹99.21
- ROE
- 4.67%
- ROCE
- 7.89%
- ROA
- 1.86%
- Debt / equity
- 0.91x
- Dividend yield
- 0%
- EBITDA margin
- 3.92%
- 52-week range
- ₹100.6 – ₹187.6
Ratios are computed from filed results and the last recorded price. Not investment advice.
Financial Performance
Mar 2026In the year ended Mar 2026, Vibhor Steel Tubes Ltd (VSTL) reported revenue of ₹1,149 crore, net profit of ₹9 crore and earnings per share of ₹4.64. That compares with revenue of ₹996 crore and net profit of ₹12 crore in Mar 2025. Figures are standalone, as filed with the exchanges.
In the quarter ended Mar 2026, revenue was ₹335.13 crore and net profit ₹2.57 crore (standalone).
| Metric | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue (₹ cr) | 818 | 1,113 | 1,073 | 996 | 1,149 |
| Net profit (₹ cr) | 11 | 21 | 18 | 12 | 9 |
| EPS (₹) | 7.99 | 14.86 | 9.34 | 6.21 | 4.64 |
| Measure | 5Y | 3Y | 1Y |
|---|---|---|---|
| Sales growth | 12.31% | 6.80% | -7.12% |
| Profit growth | 18.39% | 1.28% | -33.58% |
Ownership Summary
Jun 2026As of Jun 2026, promoters hold 74.74% of Vibhor Steel Tubes Ltd (VSTL) (up 0.12 pp QoQ), foreign institutional investors (FII) hold 0.15%. Market capitalisation was ₹218 crore on 10 Jul 2026. Shareholding is filed quarterly with BSE and NSE; Solomo carries every filing back to Mar 2024.
Largest disclosed public shareholders in Jun 2026: HUF 1.25%. Only stakes above the 1% disclosure threshold are named in filings.
| Quarter | Promoter | Pledged | FII | DII | Public |
|---|---|---|---|---|---|
| Jun 2026 | 74.74% | - | 0.15% | - | 25.26% |
| Mar 2026 | 74.62% | - | 0.31% | - | 25.38% |
| Dec 2025 | 73.66% | - | 0.03% | - | 26.34% |
| Sep 2025 | 73.66% | - | 0.06% | - | 26.34% |
| Jun 2025 | 73.66% | - | 0.17% | - | 26.34% |
| Mar 2025 | 73.66% | - | 0.16% | - | 26.34% |
| Dec 2024 | 73.48% | - | 0.04% | - | 26.52% |
| Sep 2024 | 73.48% | - | 0.13% | - | 26.52% |