Financial Performance Summary

Revenue Performance:

  • Operating Income increased by 27.16% YoY to ₹293.69 crore in Q1 FY27 from ₹230.96 crore in Q1 FY26
  • Growth driven by increased sales from high value-added products from the recently operationalized Odisha plant

Profitability Metrics:

  • EBITDA increased by 20.57% YoY to ₹12.37 crore from ₹10.26 crore
  • Net Profit decreased by 38.54% YoY to ₹1.93 crore from ₹3.14 crore
  • EPS decreased to ₹1.02 from ₹1.66 (38.55% decline)

Operational Highlights

New Manufacturing Facility:

  • Commercial production commenced in July 2025 at greenfield plant in Sundargarh, Odisha
  • Plant capacity: 156,000 MTPA (Metric Tons Per Annum)
  • Total investment: ₹119.83 crore
  • Produces value-added steel products including crash barriers, Power Transmission Line Towers, high mast lighting poles, octagonal poles, and monopoles
  • Currently supplying Electric Resistance Welded (ERW) and Galvanized (GI) Pipes

New Subsidiary Formation:

  • Incorporated wholly owned subsidiary Viyom Steel Infra Pvt Ltd
  • Focused on manufacturing high-quality steel products for infrastructure sector
  • Products include transmission towers, monopoles, crash barriers, octagonal poles, and high mast poles

Business Relationships:

  • Contract manufacturing agreement with Jindal Pipes Limited (renewed April 1, 2023)
  • Manufactures and supplies finished goods under brand name "Jindal Star"
  • Over 80% of total turnover comes from this segment

Credit Rating

  • CRISIL Ratings assigned 'BBB+/Stable' long-term rating
  • 'CRISIL A2' short-term rating assigned
  • Rating covers bank loan facilities aggregating ₹370 crore
  • Rating reflects established market position in steel tubes and pipes segment, consistent operational performance, and prudent financial management

Management Commentary

Vijay Kaushik, Chairman and Executive Director, commented:

  • "The geopolitical situation and global volatility notwithstanding, we have been able to post a healthy growth in both our topline and operating profitability"
  • "Significant uptick in demand for value-added steel products from across the country for infrastructure and real estate projects"
  • "Our plant at Sundargarh in Odisha has been able to capture a significant share of this demand"
  • "Expect our topline to improve further in the coming quarters backed by steady diversification into value-added steel segment"

Company Background

  • More than two decades old manufacturer, exporter and supplier of high-quality steel products
  • Product portfolio includes:
  • ERW pipes (water transport, oil & gas sectors)
  • Hot-dipped galvanized pipes (agriculture, infrastructure, building materials)
  • Hollow sections tubes (offices, factories, hotels)
  • Crash barriers (railways, highways & roads)
  • Transmission line towers (power sectors)
  • High mast lighting poles, octagonal poles, and monopoles

Manufacturing Units

  • Maharashtra: Pipe Nagar (Vill. Sukeli), NH-17 BKG Road, Via – Nagothane, Teh. Roha, Distt. Raigad
  • Telangana: SY No. 515 & 516, Udithyala (V), Balanagar (M), Mahabubnagar (Dist.)
  • Odisha: Plot No. 45, Podbahal, Bhasma-42, Sadar Sundargarh, Sundargarh