Vibhor Steel reports surge in EBITDA by 22.11% to Rs 1317.04 lakh in Q4 FY24

Vibhor Steel Tubes Ltd. has reported robust growth in EBITDA for Q4 FY24, increasing by 22.11% to Rs 1317.04 lakh compared to Rs 1078.58 lakh in Q4 FY23. PAT in Q4 FY24 witnessed a growth of 9.60% to Rs. 488.66 lakh compared to Rs. 445.86 lakh in Q4 FY23. However, despite these positive trends, the company faced challenges with its operating income declining 4.68% in Q4 FY24 to Rs 29119.92 lakh from Rs 30549.41 lakh in Q4 FY23.

For the full financial year, EBITDA saw a growth of 6.52%, reaching Rs 4672.00 lakh up from Rs 4385.93 lakh in FY23. The operating income for the full year totaled Rs 107271.47 lakh, a decline of 3.63% compared to Rs 111311.90 lakh in FY23. PAT declined by 15.89% in FY24 to Rs 1771.94 lakh from Rs 2106.62 lakh in FY23. This decline is attributed to factors such as increased finance costs, higher advertisement and business promotion expenses, and greater depreciation due to capital expenses at the Hyderabad unit. For the full year, EPS decreased by 37.10% to Rs 9.34 from Rs 14.85 in FY23.

Commenting on the results, Mr. Vijay Kaushik, Founder, Chairman and Director, of Vibhor Steel, said, "While we faced several financial challenges this year, our core operational performance remains strong, as evidenced by the increase in EBITDA and EBITDA margin. The strategic investments in marketing and capital expenditures are essential for our long-term growth and market positioning. We are confident that these investments will yield positive results in the coming years."

Vibhor Steel remains committed to enhancing shareholder value and achieving sustainable growth. The company continues to focus on strategic initiatives and operational excellence to navigate the current economic landscape and emerge stronger.

At its meeting held on 28th May 2024, the Board of Directors of Vibhor Steel Tubes Ltd. approved the establishment of a second GI plant with a capacity of 24,000 tons per annum at Balanagar, Mahabubnagar District, Telangana. The company has provided updates on the construction of its new facility, Unit III, in Odisha, located in Village Podbahal under Sardar Sundargarh Tahsil in the district of Sundargarh. This new facility is part of Vibhor Steel's ongoing expansion efforts to meet growing market demands and enhance production capabilities.

Source : Equity Bulls

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VibhorSteelTubes Q4FY24 FY2024 ResultUpdate FY24