Vibhor Steel Tubes Secures CRISIL Rating for Rs 100 Crore Facilities
Filing Summary
Vibhor Steel Tubes Ltd has received a CRISIL rating of ‘BBB+/Stable’ for long-term and ‘A2’ for short-term bank facilities totaling Rs 100 crore. The rating reflects the company’s established market position in the steel tubes and pipes sector and its operational performance. The company has assured offtake agreements, including a significant contract with Jindal Pipes Ltd. Vibhor Steel Tubes operates manufacturing units in Maharashtra, Telangana, and Odisha, with a total capacity of 2,21,000 MTPA. The company recently commenced production at its Odisha plant, enhancing its product offerings.
Vibhor Steel Tubes Ltd has announced that it has secured a CRISIL rating of ‘BBB+/Stable’ for its long-term bank facilities and ‘A2’ for its short-term bank facilities, aggregating to Rs 100 crore. This rating is pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The rating reflects the company’s established position in the steel tubes and pipes industry and its consistent operational performance.
The CRISIL rating for Vibhor Steel Tubes Ltd covers bank loan facilities amounting to Rs 100 crore. The rating is expected to enhance the company’s credibility among lenders and stakeholders, providing greater financial flexibility. This flexibility is intended to support the company’s expansion plans and working capital requirements. The rating also indicates the company’s prudent financial management and steady demand across infrastructure, construction, and industrial sectors.
Vibhor Steel Tubes Ltd manufactures a range of steel products, including electric resistance welded pipes, hot-dipped galvanized pipes, hollow section pipes, and SS pipes. The company has assured offtake agreements, notably with Jindal Pipes Ltd, ensuring the sale of a minimum of 1,00,000 tonnes per annum of pipes. The company recently commenced production at its greenfield plant in Sundargarh, Odisha, with a capacity of 156,000 MTPA. This facility produces value-added steel products such as crash barriers and power transmission line towers.
The company operates two additional manufacturing units located in Maharashtra and Telangana, with a total capacity of 2,21,000 MTPA. These units supply products to markets in Maharashtra, Gujarat, Madhya Pradesh, Telangana, Karnataka, and Tamil Nadu. Vibhor Steel Tubes Ltd made its debut on the BSE and NSE in February 2024, raising Rs 72.17 crore from the IPO.
The production at the Odisha plant began in July 2025, following a total investment of Rs 119.83 crore. The plant’s operationalization is expected to contribute to the company’s revenue growth over the medium term. The company has been working with Jindal Pipes Limited since 2003, manufacturing and supplying finished goods under the brand name “Jindal Star.”
Jindal Pipes Limited is a prominent player in the steel pipe manufacturing industry, focusing on producing high-quality pipes for various applications. The company has established a strong market presence and continues to expand its product offerings to meet diverse customer needs.
Vibhor Steel Tubes Ltd is a manufacturer, exporter, and supplier of high-quality steel products, serving various heavy engineering industries in India. The company’s product portfolio includes ERW pipes, hot-dipped galvanized pipes, hollow sections, crash barriers, and transmission line towers. Vibhor Steel Tubes Ltd focuses on expanding its market reach and enhancing its production capabilities to cater to growing industry demands.