Vibhor Steel Tubes Limited | Globe Capital Market LTD.
Vibhor Steel Tubes Limited
Closed
Price Band
₹141 to ₹151 per share
IPO Issue Period
Feb 13, 2024 to Feb 15, 2024
Issue Size
₹72.17 Cr
Face value
Rs.10
Fresh issue
₹72.17 Cr
Offer for sale
NIL
Minimum Shares for Retail
99 Shares
Listing on
NSE, BSE
Issue Type
Book Building
Registrar to the Issue
Kfin Technologies Limited
Tentative Listing Date
Feb 20, 2024
QIB
50%
NII
15%
Retail
35%

Khambatta Securities Limited

Founded in 2003, Vibhor Steel Tubes Limited manufactures, exports and supplies steel pipes and tubes to various heavy engineering industries in India.

The company’s product portfolio includes:

  • ERW pipes for application in water transport, oil, gas and other non-toxic supplies.
  • Hot-dipped galvanized pipes for application in agriculture and infrastructure.
  • Hollow section pipes in square and rectangular forms.
  • Primer painted pipes
  • Crash barriers for application in railways, highways, and roads.

The company has two manufacturing facilities in Raigad, Maharashtra and Mahabubnagar (Dist.), Telangana and a warehouse in Hisar, Haryana.

As of January 24, 2024 the company had a total of 640 permanent employees.

For year/ period ended ( in Cr.)

Particulars H1FY23 FY22 FY21
Total Revenue 1,114.38 818.48 511.51
Profit After Tax 21.07 11.33 0.69
EPS 14.85 7.99 0.49
OPM (%) 4.21% 3.69% 3.90%
PATM (%) 1.89% 1.39% 0.13%

 

For year/ period ended ( in Cr.)

Company Name Market Cap (Cr.) Price P/BV P/E Sales (Cr.)
FY23
Net Profits(Cr.)
FY23
Vibhor Steel Tubes Limited *214 151 2.29 14.84 1,114.38 21.07
APL Apollo Tubes Ltd 38,337 1,381 11.13 50.19 17,230.76 763.82
Ratnamani Metals & Tubes Ltd. 24,343 3,473 8.64 39.1 4,903.92 625.86
Venus Pipes & Tubes Ltd. 3,061 1,508 8.01 41.16 754.37 74.37

 

*Market cap @upper band 

  • In house designing, engineering and execution team;
  • Strategic Location of manufacturing Units;
  • Strong execution capabilities with industry experience and established track record;
  • Experienced Promoters and Management Team.
  • Specialized production of Stainless-Steel Pipes and Tubes.
  • Good financial track record for the last 3 years
  • Funding of working capital requirements of the company; and
  • General corporate purposes.

At the upper band of Rs. 151, the stock is trading at P/E multiple of 14.84 times. Hence, Investors may park funds for the medium to long term rewards.

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