BSE: 544124 | NSE: VSTL | Steel & Iron Products | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Vibhor Steel Tubes Ltd is a below average quality company.
The key valuation ratios of Vibhor Steel Tubes Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Vibhor Steel Tubes Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|
| ROCE % ⓘ | 9.9% | 14.4% | 18.2% | 15% | - |
| Value Creation Index ⓘ | -0.3 | 0.0 | 0.3 | 0.1 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||
| Sales ⓘ | 510 | 818 | 1,113 | 1,073 | 1,073 |
| Sales YoY Gr. | - | 60.2% | 36.1% | -3.6% | - |
| Adj EPS ⓘ | 0.4 | 8.2 | 14.9 | 9.4 | 9.3 |
| YoY Gr. | - | 2044.7% | 82.2% | -36.8% | - |
| BVPS (₹) ⓘ | 42.7 | 50.8 | 65.7 | 93.8 | 95.4 |
| Adj Net Profit ⓘ | 0.5 | 11.6 | 21.1 | 17.8 | 18 |
| Cash Flow from Ops. ⓘ | 45.4 | -34.6 | 7 | 5.9 | - |
| Debt/CF from Ops. ⓘ | 1.6 | -3.7 | 21.7 | 24 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | 28.1% | -3.6% | ||||
| Adj EPS ⓘ | NA | NA | 191.3% | -36.8% | ||||
| BVPSⓘ | NA | NA | 30% | 42.7% | ||||
| Share Price | - | - | - | - | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|
| Return on Equity % ⓘ | 0.9 | 17.5 | 25.5 | 13.1 | 9.9 |
| Op. Profit Mgn % ⓘ | 3.7 | 3.6 | 4.1 | 4.6 | 4.3 |
| Net Profit Mgn % ⓘ | 0.1 | 1.4 | 1.9 | 1.7 | 1.7 |
| Debt to Equity ⓘ | 1.2 | 1.8 | 1.6 | 0.8 | - |
| Working Cap Days ⓘ | 0 | 63 | 64 | 84 | 22 |
| Cash Conv. Cycle ⓘ | 0 | 35 | 39 | 51 | 8 |
Sales growth is growing at healthy rate in last 3 years 28.09%
Net Profit is growing at healthy rate in last 3 years 191.27%
Debt to equity has declined versus last 3 years average to 0.79
Return on Equity has declined versus last 3 years average to 9.90%
Sales growth is not so good in last 4 quarters at -3.73%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 9.3 | - |
| TTM Sales (₹ Cr.) | 1,073 | - |
| BVPS (₹.) ⓘ | 95.4 | - |
| Reserves (₹ Cr.) ⓘ | 162 | - |
| P/BV ⓘ | 2.23 | - |
| PE ⓘ | 22.79 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 205.60 / 442.00 |
| All Time Low / High (₹) | 222.90 / 442.00 |
| Market Cap (₹ Cr.) | 404 |
| Equity (₹ Cr.) | 19 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 21.7 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Sales | 510 | 818 | 1,113 | 1,073 |
| Operating Expenses ⓘ | 492 | 789 | 1,068 | 1,024 |
| Manufacturing Costs | 19 | 18 | 27 | 33 |
| Material Costs | 454 | 745 | 1,013 | 959 |
| Employee Cost | 14 | 15 | 18 | 21 |
| Other Costs ⓘ | 5 | 11 | 10 | 11 |
| Operating Profit ⓘ | 19 | 29 | 46 | 49 |
| Operating Profit Margin (%) | 3.7% | 3.6% | 4.1% | 4.5% |
| Other Income ⓘ | 1 | 1 | 1 | 2 |
| Interest ⓘ | 9 | 9 | 12 | 18 |
| Depreciation ⓘ | 7 | 6 | 6 | 8 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 4 | 15 | 28 | 24 |
| Tax ⓘ | 3 | 4 | 7 | 6 |
| Profit After Tax | 1 | 11 | 21 | 18 |
| PAT Margin (%) | 0.1% | 1.4% | 1.9% | 1.7% |
| Adjusted EPS (₹) | 0.5 | 8.0 | 14.9 | 9.3 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 60 | 72 | 93 | 178 | ||||||
| Share Capital ⓘ | 14 | 14 | 14 | 19 | ||||||
| Reserves ⓘ | 46 | 58 | 79 | 159 | ||||||
| Minority Interest | 0 | 0 | 0 | 0 | ||||||
| Debt | 70 | 124 | 150 | 135 | ||||||
| Long Term Debt | 8 | 14 | 14 | 19 | ||||||
| Short Term Debt | 63 | 110 | 137 | 115 | ||||||
| Trade Payables | 33 | 43 | 42 | 56 | ||||||
| Others Liabilities ⓘ | 9 | 10 | 8 | 14 | ||||||
| Total Liabilities ⓘ | 173 | 249 | 294 | 383 | ||||||
Fixed Assets | ||||||||||
| Gross Block | 91 | 95 | 105 | 128 | ||||||
| Accumulated Depreciation | 39 | 45 | 51 | 59 | ||||||
| Net Fixed Assetsⓘ | 52 | 50 | 54 | 69 | ||||||
| CWIP ⓘ | 0 | 0 | 0 | 12 | ||||||
| Investmentsⓘ | 0 | 0 | 0 | 0 | ||||||
| Inventories | 51 | 101 | 120 | 171 | ||||||
| Trade Receivables | 39 | 45 | 54 | 51 | ||||||
| Cash Equivalents | 15 | 21 | 26 | 24 | ||||||
| Others Assetsⓘ | 15 | 32 | 39 | 56 | ||||||
| Total Assets ⓘ | 173 | 249 | 294 | 383 | ||||||
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 45 | -35 | 7 | 6 |
| PBT ⓘ | 4 | 15 | 28 | 24 |
| Adjustment ⓘ | 16 | 14 | 18 | 25 |
| Changes in Working Capital ⓘ | 28 | -63 | -35 | -36 |
| Tax Paid ⓘ | -3 | -2 | -4 | -7 |
| Cash Flow From Investing Activity ⓘ | -1 | -4 | -16 | -44 |
| Capex | -2 | -4 | -11 | -32 |
| Net Investments | 0 | 0 | 0 | 0 |
| Others ⓘ | 1 | 0 | -5 | -12 |
| Cash Flow From Financing Activityⓘ | -36 | 44 | 13 | 37 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 72 |
| Net Proceeds from Borrowing ⓘ | -27 | 7 | -1 | 6 |
| Interest Paid ⓘ | -9 | -9 | -12 | -18 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 46 | 26 | -23 |
| Net Cash Flow ⓘ | 8 | 6 | 5 | -1 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 1.14 | 17.11 | 25.51 | 13.08 | ||||||
| ROCE (%) | 9.9 | 14.42 | 18.21 | 14.95 | ||||||
| Asset Turnover Ratio | 2.95 | 3.88 | 4.11 | 3.17 | ||||||
| PAT to CFO Conversion(x) | 45 | -3.18 | 0.33 | 0.33 | Working Capital Days | |||||
| Receivable Days | 28 | 19 | 16 | 18 | ||||||
| Inventory Days | 37 | 34 | 36 | 50 | ||||||
| Payable Days | 26 | 19 | 15 | 19 | ||||||
Vibhor Steel Tubes Limited was originally incorporatedas ‘Vibhor Steel Tubes Private Limited’ a private limited company under the Companies Act, 1956 at, pursuant to a certificate of incorporation dated April 16, 2003 issued by the Registrar of Companies, National Capital Territory of Delhi and Haryana. Thereafter, the Company was converted from private to public company, pursuant to a special resolution passed by the shareholders of the Company on June 14, 2023 and a fresh certificate of incorporation consequent to change of name was issued by the Registrar of Companies, Delhi (RoC) on July 07, 2023.
The company is manufacturers and exporters of Mild Steel/Carbon Steel ERW Black and Galvanized Pipes, Hallow Steel Pipe, Cold rolled Steel (CR) Strips/ Coils. It is 2 decades old manufacturer, exporter and supplier of steel pipes and tubes to various heavy engineering industries in India. Steel pipes and tubes can be used for many purposes such as steel pipes for frames and shafts, steel pipes for bicycle frames, steel pipes for furniture, CDW pipes for shockers, steel pipes for various structural purposes, steel pipes for various engineering purposes etc.
The company has a very wide range of steel pipes and tubes products. The lengths of the steel pipes & tubes in different ranges unless otherwise specified by the customers. It manufactures steel pipes and tubes in various shapes and sizes such square, round, rectangular and elliptical or any special shape. The company is working with Jindal Pipes Limited since 2003. It manufactures & supplies the finished goods for ‘Jindal Pipes Limited’ (“Jindal”) vide the renewed agreement dated April 01, 2023 under the brand name ‘Jindal Star’.
Business area of the company
The company is engaged in the business of manufacturing of ERW Pipes & Tubes, Galvanized Pipes & Tubes and Crash Barriers.
Products of the company
History and milestones
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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