Overview

Detailed Summary

Vardhman Special Steels Limited is a leading manufacturer of special steels, primarily serving the automotive sector in India. The company has announced a massive ₹475 crore investment to develop a steel forging and machining facility, signifying a strategic foray into automotive components. Its technical collaboration with Aichi Steel Corporation aims to uplift quality to international standards, making Vardhman a formidable player in the realm of special steels for automotive applications. With an increase in EBITDA and PAT by 34.28% and 56.53% YoY respectively, the company is on a solid growth trajectory. Additionally, a closed-loop steel recycling initiative with Maruti Suzuki aligns Vardhman with sustainable practices and signals a commitment towards a circular economy.

Sector: Industrial Products
Industry: Iron & Steel Products
Market Cap: 2,907 Cr
Volatility: High Risk
P/E Ratio: 31.6
Industry P/E: 35.5
PEG Ratio: -2.0
P/B Ratio: 2.4
52W High: 325.00
52W Low: 205.65

Sales CAGR

1Y: 6.20%
3Y: 8.84%
5Y: 15.83%
10Y: 10.38%

Profit CAGR

1Y: 1.59%
3Y: -2.60%
5Y: 94.55%
10Y: 41.03%

ROE

TTM: 11.67%
3Y: 13.21%
5Y: 13.55%
10Y: 10.80%

ROCE

TTM: 15.64%
3Y: 19.09%
5Y: 19.85%
10Y: 15.85%

Technicals

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Forecasts

Peers

Industrials Capital Goods Industrial Products Iron & Steel Products

Symbol	Watchlist	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
VENUSPIPES		1702.00	3,526 Cr	34.47	5.27	0.03	15.25	18.65	7.85
SAMBHV		115.80	3,408 Cr	23.55	3.23	0.00	13.49	16.22	6.88
WELSPLSOL		51.50	3,396 Cr	119.19	7.44	0.00	4.97	9.80	3.28
VSSL		296.75	2,868 Cr	31.15	2.42	0.86	11.67	15.64	8.20
JTLIND		72.42	2,777 Cr	28.17	1.87	0.18	6.62	8.46	5.16
RHETAN		28.28	2,255 Cr	217.69	20.87	0.00	9.48	9.70	6.24
MSPL		35.47	2,006 Cr	14.81	1.95	0.00	13.14	9.29	1.95
Median: 7 Co.	—	72.42	2,868 Cr	31.15	3.23	0.00	11.67	9.80	6.24

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
Sales	409	415	397	439	415	495	427	428
Expenses	380	384	364	391	372	456	392	397
Operating Profit	29	31	33	49	42	39	35	31
OPM %	7.14	7.50	8.37	11.11	10.21	7.91	8.22	7.34
Other Income	7.24	5.62	8.25	8.71	5.67	9.29	6.97	7.18
Interest	4.21	4.64	4.91	4.66	4.70	5.37	5.09	3.47
Depreciation	7.25	7.31	7.43	8.99	8.29	8.40	8.49	8.29
Profit Before Tax	25	25	29	44	35	35	28	27
Tax %	25.75	25.57	25.24	25.29	25.59	25.55	24.62	26.52
Net Profit	19	18	22	33	26	26	21	20
EPS in Rs	1.92	1.90	2.24	3.35	2.68	2.66	2.21	2.04

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2024	Mar 2025
Sales	1,661	1,764
Expenses	1,519	1,616
Operating Profit	142	148
OPM %	8.57	8.39
Other Income	30	29
Interest	18	19
Depreciation	31	33
Profit Before Tax	123	125
Tax %	25.42	25.57
Net Profit	92	93
EPS in Rs	9.41	9.58
Dividend Payout %	17.89	26.39

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2024	Mar 2025
Equity Capital	81	82
Reserves	638	716
Borrowings	84	120
Other Liabilities	237	218
Total Liabilities	1,040	1,136
Fixed Assets	325	309
CWIP	0.99	117
Investments	0.00	18
Other Assets	714	693
Total Assets	1,040	1,136

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2024	Mar 2025
Cash from Operating Activity	142	127
Cash from Investing Activity	-50	-127
Cash from Financing Activity	-94	3.03
Net Cash Flow	-1.89	3.12

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Jul 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	60.67%	60.56%	60.56%	60.53%	60.49%	60.37%	51.13%	51.13%	51.13%	51.10%	51.06%	51.06%
FIIs	0.75%	0.49%	0.64%	0.60%	0.58%	0.65%	0.00%	0.50%	0.55%	0.54%	0.55%	0.55%
DIIs	2.50%	2.63%	3.15%	3.85%	4.51%	4.17%	4.03%	3.54%	3.64%	3.31%	3.34%	3.27%
Public	36.07%	36.32%	35.65%	35.02%	34.42%	34.81%	44.84%	44.84%	44.69%	45.04%	45.05%	45.12%
Total Shareholders	33,715	32,866	34,683	35,229	36,348	36,287	35,856	35,856	36,443	38,079	36,854	36,365

Market Transactions

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Projection

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q1 FY27

Investor Presentation

Q4 FY26

Investor Presentation

Q3 FY26

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

Investor Presentation

Q4 FY25

Investor Presentation

Q3 FY25

Investor Presentation

Q2 FY25

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Actions

Action Type

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Announcements

Last 7 days

Sentiment

Earnings Call/Transcript

3 days ago

Vardhman Special Steels Concall Audio

Vardhman Special Steels: link to audio recording of the earnings conference call held on 2026-07-23 at 11:00 to discuss Q1 FY27 business and financial performance.

Earnings Call/Transcript

3 days ago

Vardhman Special Steels: Q1 FY27 Concall Audio

Vardhman Special Steels shared the audio recording link of its earnings conference call held on 2026-07-23 at 11:00 to discuss Q1 FY27 business and financial performance.

Financial Results

4 days ago

Vardhman Special Steels: Q1 2026 Results Published

Vardhman Special Steels published newspaper extract of unaudited financial results for the quarter ended 30 June 2026, filed under Regulation 47; publication dated 23 July 2026.

Financial Results

4 days ago

Vardhman Special Steels: Q1 2026 Results Newspaper Publication

Vardhman Special Steels published a newspaper extract of unaudited financial results for the quarter ended 30 June 2026 on 23 July 2026 in compliance with Regulation 47 (LODR).

Investor Presentation

4 days ago

Vardhman Special Steels Q1 FY27 Investor Presentation

Vardhman Special Steels Ltd filed an investor presentation with unaudited Q1 FY27 results: Revenue Rs 486.01 cr, EBITDA Rs 68.29 cr, PAT Rs 41.19 cr and volumes 59,103 tonnes; YoY EBITDA and PAT improved significantly.

Investor Presentation

4 days ago

Vardhman Special Steels Q1 FY27 Investor Presentation

Vardhman Special Steels Ltd filed an investor presentation for unaudited Q1 FY27 results: Revenue Rs 486.01cr, EBITDA Rs 68.29cr, PAT Rs 41.19cr, volumes 59,103 t; notes capacity expansions and future projects.

Showing 1 - 6 of 10

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Frequently Asked Questions about Vardhman Special Steels Ltd

Vardhman Special Steels Ltd (VSSL) is currently trading at 300.65 per share. Stock prices fluctuate during market hours on NSE and BSE based on demand, company updates, and overall market conditions. Refer to the live price chart above for the most recent price movement.

Vardhman Special Steels Limited is a leading manufacturer of special steels, primarily serving the automotive sector in India. The company has announced a massive ₹475 crore investment to develop a steel forging and machining facility, signifying a strategic foray into automotive components. Its technical collaboration with Aichi Steel Corporation aims to uplift quality to international standards, making Vardhman a formidable player in the realm of special steels for automotive applications. With an increase in EBITDA and PAT by 34.28% and 56.53% YoY respectively, the company is on a solid growth trajectory. Additionally, a closed-loop steel recycling initiative with Maruti Suzuki aligns Vardhman with sustainable practices and signals a commitment towards a circular economy.

Over the past 52 weeks, Vardhman Special Steels Ltd has traded between a low of ₹205.65 and a high of ₹325.00. The 52-week high and low indicate the stock’s price range over the last year and help investors understand its volatility and recent trading levels.

Vardhman Special Steels Ltd has a market capitalization of approximately 2,867.67. Market capitalization represents the total value of a company’s outstanding shares and helps investors understand its size, stability, and relative risk compared to other listed companies.

Vardhman Special Steels Ltd’s investment profile depends on its business fundamentals, valuation, and long-term outlook. The stock currently trades at a PE ratio of 31.15 and operates in the its sector sector. Investors typically assess financial performance, growth prospects, and individual risk tolerance before making investment decisions.

Based on its market capitalization of 2,867.67 Cr, Vardhman Special Steels Ltd is classified as a Small Cap stock. Large-cap stocks are generally more stable, while mid-cap and small-cap stocks tend to offer higher growth potential along with higher price volatility.

Vardhman Special Steels Ltd operates in the its sector sector. Sector classification matters because companies in the same sector are often affected by similar economic conditions, regulatory changes, and competitive dynamics, which can influence overall stock performance.

The Price-to-Earnings (PE) ratio of Vardhman Special Steels Ltd is 31.15. The PE ratio compares a company’s share price to its earnings and is commonly used to assess valuation. Comparing the PE ratio with sector peers and historical levels provides better context.

The company reported standalone net profit of ₹41.19 crore in Q1FY27, compared with ₹19.90 crore in Q1FY26.

Vardhman Special Steels Ltd

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