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Vibhor Steel Tubes showed strong Q3 FY'26 results, with revenue up 21% YoY to Rs. 301 Cr. Nine-month revenue grew 15% to Rs. 814 Cr. The Jharsuguda plant is crucial for diversification into higher-margin products like Highway Crash Barriers, Transmission Line Towers, and Monopoles. Demand is robust, with Crash Barrier capacity full and new galvanizing lines planned in Jharsuguda and Hyderabad (FY'26 CAPEX: ~Rs. 10 Cr). New products, catering to government projects, are expected to contribute 20% of revenue this year with improved EBITDA margins. Management is confident in continued growth and expanding plant utilization.