| Quarterly Financials | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 |
Revenue  | 417 | 421 | 406 | 448 | 420 | 504 | 434 | 435 |
| Expenses | 380 | 384 | 364 | 391 | 372 | 456 | 392 | 397 |
| EBITDA | 37 | 37 | 42 | 58 | 48 | 49 | 42 | 39 |
| Operating Profit % | 7 % | 8 % | 8 % | 11 % | 10 % | 8 % | 8 % | 7 % |
| Depreciation | 7 | 7 | 7 | 9 | 8 | 8 | 9 | 8 |
| Interest | 4 | 5 | 5 | 5 | 5 | 5 | 5 | 4 |
| Profit Before Tax | 25 | 25 | 29 | 44 | 35 | 35 | 29 | 27 |
| Tax | 6 | 6 | 7 | 11 | 9 | 9 | 7 | 7 |
| Net Profit | 19 | 19 | 22 | 33 | 26 | 26 | 22 | 20 |
| EPS in ₹ | 2.29 | 2.27 | 2.68 | 4.02 | 3.20 | 3.17 | 2.63 | 2.42 |
Vardhman Special Steels
Vardhman Special Steels
277.50
+0.60
(0.22%)
Market Cap
₹2,677.97 Cr
PE Ratio
29.62
Volume
12,335.00
Day High - Low
₹281.80 - ₹274.70
52W High-Low
₹324.00 - ₹178.00
There are new updates from the company19 hours ago
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Key Fundamentals
Market Cap
2,677.97 Cr
EPS
11.40
PB Ratio
2.33
Book Value
122.50
EBITDA
177.20
Dividend Yield
0.89 %
Industry
Industrial Products Sector
Iron & Steel Products ROE Growth %
-
Debt to Equity
0.13
Actual
Company News
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Vardhman Special Steels Loses Head of Research and Development as Senior Executive Resigns2 days ago
Dinesh Singh, Head of Research and Development at Vardhman Special Steels, has resigned from his position as senior management personnel. The departure affects the company's research and development leadership structure and could impact future innovation initiatives.
Vardhman Special Steels Seeks Shareholder Approval for Director Appointments and Employee Stock Option Plan
Nov 10, 2025
Nov 10, 2025Vardhman Special Steels Limited has issued a postal ballot notice seeking shareholder approval through special resolutions for three key proposals. The company is seeking approval to appoint Mr. Dinkar Gupta and Mr. Nishant Arya as Independent Directors for five-year terms starting from September 25, 2025. Mr. Gupta is a former Director General of the National Investigation Agency with over 30 years of security domain experience, while Mr. Arya is Vice Chairman MD of JBM Group with expertise in electric vehicles and renewable energy. The company is also seeking approval for the Vardhman Special Steels Limited Employee Stock Option Plan 2025, which would allow the issuance of up to 12,00,000 equity shares of Rs. 10 face value each, representing approximately 1.243% of total issued capital. The ESOP plan includes a minimum vesting period of two years and exercise period of two years from vesting date. The e-voting period runs from November 11, 2025, to December 10, 2025, with results to be declared by December 12, 2025.
Vardhman Special Steels Limited reported quarterly sales of 55,500 tons versus 59,000 tons in the previous year, with revenue declining 12.64% year-on-year to Rs. 432 crores due to both lower volumes and price reductions. However, EBITDA increased 16% to Rs. 56 crores compared to Rs. 48 crores last year, with EBITDA per ton at Rs. 10,000. PAT grew to Rs. 34.5 crores from Rs. 26 crores, benefiting from reduced finance costs following Aichi Steel's Rs. 385 crore investment for a 25% stake. The company renewed its technical assistance agreement with Aichi for three years and commissioned the Kocks Block successfully. A new reheating furnace is expected to be commissioned by March, which will increase rolling capacity to 2,70,000 tons and reduce job work costs. The company started a circular economy initiative with Maruti Suzuki, buying CRC scrap from Maruti plants to make steel in a closed loop. Management expects FY27 volumes of around 2,45,000 tons and maintains EBITDA guidance of Rs. 8,000-11,000 per ton from next financial year.
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Peer Comparison Compare Peers on Screener
Competitors | LTP | Market Cap (₹ Cr.) | P/E Ratio | Revenue (₹ Cr.) | YoY Revenue Growth % | Net Profit (₹ Cr.) | YoY Profit Growth % | RSI |
|---|---|---|---|---|---|---|---|---|
1,724.70 | #1 47,883.89 | 45.56 | 20,785.60 | 14.25 | 757 | #1 460.41 | 46.58 | |
816.70 | 22,796.70 | 24.12 | 15,368.10 | #1 15.08 | 909 | 20.77 | 34.60 | |
859.55 | 22,658.33 | 10.75 | 14,167.30 | -19.42 | #1 1,902 | 56.71 | 44.84 | |
2,360.00 | 16,541.71 | 26.58 | 5,246.10 | 2.22 | 542 | 57.10 | 48.68 | |
234.10 | 15,675.73 | 23.11 | 5,471.70 | -1.47 | 813 | 1.38 | 32.84 | |
598.70 | 14,445.49 | 30.03 | 4,308.30 | 1.75 | 401 | 81.80 | 48.92 | |
422.55 | 12,876.86 | 33.17 | 3,513.50 | 7.59 | 406 | 0.46 | 39.02 | |
164.35 | 10,510.32 | #1 9.49 | #1 20,947.80 | -0.84 | 1,458 | -70.84 | 37.77 | |
572.60 | 7,672.80 | 9.75 | 5,465.90 | -1.45 | 777 | -43.14 | 50.95 | |
71.84 | 6,975.65 | 19.56 | 2,666.90 | -12.30 | -94 | 407.31 | 47.34 |
Growth Rate
Revenue Growth
6.05 %
Net Income Growth
1.64 %
Cash Flow Change
-10.88 %
ROE
-8.40 %
ROCE
-6.48 %
EBITDA Margin (Avg.)
-3.04 %
Quarterly Financial Results
Balance Sheet
| Balance Sheet | 2024 | 2025 |
| Total Assets | 1,040 | 1,136 |
| Fixed Assets | 325 | 309 |
| Current Assets | 674 | 661 |
| Capital Work in Progress | 1 | 117 |
| Investments | 0 | 18 |
| Other Assets | 714 | 693 |
| Total Liabilities | 1,040 | 1,136 |
| Current Liabilities | 283 | 313 |
| Non Current Liabilities | 37 | 25 |
| Total Equity | 719 | 798 |
| Reserve & Surplus | 638 | 716 |
| Share Capital | 82 | 82 |
Cash Flow
| Cash Flow | 2024 | 2025 |
| Net Cash Flow | -2 | 3 |
| Investing Activities | -50 | -127 |
| Operating Activities | 142 | 127 |
| Financing Activities | -94 | 3 |
Share Holding
| % Holding | Mar 2021 | Jun 2021 | Sept 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sept 2022 | Dec 2022 | Mar 2023 | May 2023 | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Jul 2025 | Sept 2025 |
| Promoter | 60.73 % | 60.87 % | 60.87 % | 60.87 % | 60.78 % | 60.81 % | 60.81 % | 60.81 % | 60.71 % | 60.71 % | 60.71 % | 60.71 % | 60.67 % | 60.56 % | 60.56 % | 60.53 % | 60.49 % | 60.37 % | 51.13 % | 51.13 % | 51.13 % |
| FIIs | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.97 % | 0.00 % | 0.49 % | 0.64 % | 0.60 % | 0.58 % | 0.65 % | 0.50 % | 0.50 % | 0.55 % |
| DIIs | 4.23 % | 0.01 % | 0.78 % | 1.02 % | 1.24 % | 1.24 % | 1.24 % | 0.79 % | 1.04 % | 1.06 % | 1.06 % | 2.43 % | 2.43 % | 2.63 % | 3.15 % | 3.85 % | 4.51 % | 4.17 % | 3.54 % | 3.54 % | 3.64 % |
| Government | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % |
| Public / Retail | 18.70 % | 22.52 % | 23.73 % | 23.58 % | 23.42 % | 23.41 % | 23.13 % | 23.48 % | 22.76 % | 22.20 % | 22.25 % | 20.94 % | 20.41 % | 20.23 % | 19.59 % | 19.90 % | 19.52 % | 19.83 % | 16.46 % | 16.46 % | 16.33 % |
| Others | 16.35 % | 16.61 % | 14.63 % | 14.54 % | 14.56 % | 14.53 % | 14.81 % | 14.92 % | 15.49 % | 16.03 % | 15.98 % | 14.95 % | 16.49 % | 16.08 % | 16.07 % | 15.12 % | 14.90 % | 14.98 % | 28.37 % | 28.37 % | 28.36 % |
| No of Share Holders | 0 | 18,214 | 26,104 | 31,577 | 36,765 | 36,348 | 35,013 | 33,560 | 30,124 | 30,992 | 31,951 | 31,906 | 33,715 | 32,866 | 34,683 | 35,229 | 36,348 | 36,287 | 35,856 | 35,856 | 36,443 |
Dividend History
| Annual Cash Flows | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.5 | 3.5 | 2 | 2 | 3 |
| Dividend Yield (%) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.32 | 1.76 | 0.94 | 1 | 1.08 |
Corporate Action
| Record Date | Corporate Action | Information | Announcement Day | LTP at Annoucement | LTP at Record Day |
|---|---|---|---|---|---|
| 10 Apr 2017 |  Rights | 2:3 | 07 Apr 2017 | 55.49 | 52.88 |
| 06 Sept 2021 |  Dividend | ₹ 1.50 /share | 02 Sept 2021 | 95.35 | 127.18 |
| 20 Sept 2022 | Dividend | ₹ 3.50 /share | 16 Sept 2022 | 127.65 | 126.88 |
| 26 May 2023 |  Bonus | 1:1 | 26 May 2023 | 202.33 | 207.08 |
| 16 Sept 2023 | Dividend | ₹ 2.00 /share | 15 Sept 2023 | 191.38 | 211.50 |
| 07 Sept 2024 | Dividend | ₹ 2.00 /share | 06 Sept 2024 | 295.80 | 285.50 |
| 19 Sept 2024 |  Annual General Meeting | NA | 19 Sept 2024 | 284.95 | 287.30 |
| 07 Nov 2024 |  Quarterly Result Announcement | NA | 07 Nov 2024 | 263.60 | 276.10 |
| 29 Jan 2025 | Quarterly Result Announcement | NA | 29 Jan 2025 | 229.90 | 213.83 |
| 22 Apr 2025 | Quarterly Result Announcement | NA | 22 Apr 2025 | 208.79 | 203.26 |
| 25 Jun 2025 |  Extraordinary General Meeting | NA | 25 Jun 2025 | 270.99 | 243.05 |
| 25 Jul 2025 | Quarterly Result Announcement | NA | 25 Jul 2025 | 258.95 | 270.30 |
| 12 Sept 2025 | Dividend | ₹ 3.00 /share | 12 Sept 2025 | 203.26 | 274.45 |
| 24 Sept 2025 | Annual General Meeting | NA | 24 Sept 2025 | 257.65 | 275.55 |
| 28 Oct 2025 | Quarterly Result Announcement | NA | 28 Oct 2025 | 272.80 | 314.95 |
Announcements
Analysts/Investors Meet - Outcome19 hours ago
19 hours agoAnnouncement under Regulation 30 (LODR)-Change in Management2 days ago
2 days agoAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation3 days ago
3 days agoAnnouncement under Regulation 30 (LODR)-Newspaper PublicationNov 11, 2025
Nov 11, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationNov 11, 2025
Nov 11, 2025Shareholder Meeting / Postal Ballot-Notice of Postal BallotNov 10, 2025
Nov 10, 2025Demat Report For The Month Ended October 2025.Nov 07, 2025
Nov 07, 2025Announcement under Regulation 30 (LODR)-Earnings Call TranscriptNov 06, 2025
Nov 06, 2025Announcement under Regulation 30 (LODR)-Monitoring Agency ReportNov 05, 2025
Nov 05, 2025Link Of Audio RecordingNov 03, 2025
Nov 03, 2025Update On Investment In Sone Solar Private LimitedOct 30, 2025
Oct 30, 2025Announcement under Regulation 30 (LODR)-Investor PresentationOct 29, 2025
Oct 29, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationOct 29, 2025
Oct 29, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseOct 28, 2025
Oct 28, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationOct 28, 2025
Oct 28, 2025Outcome Of Board MeetingOct 28, 2025
Oct 28, 2025Results- Financial Results For The Quarter/ Half Year Ended 30.09.2025.Oct 28, 2025
Oct 28, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationOct 25, 2025
Oct 25, 2025Board Meeting Intimation for Consideration And Approval Of The Un-Audited Financial Results Of The Company For The Quarter/ Half-Year Ended 30Th September 2025.
Oct 16, 2025
Oct 16, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationOct 14, 2025
Oct 14, 2025Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Oct 08, 2025
Oct 08, 2025Demat Report For The Month Ended September 2025.Oct 08, 2025
Oct 08, 2025Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPSOct 06, 2025
Oct 06, 2025Closure of Trading WindowSep 27, 2025
Sep 27, 2025Shareholder Meeting / Postal Ballot-Outcome of AGMSep 25, 2025
Sep 25, 2025Shareholder Meeting / Postal Ballot-Scrutinizers ReportSep 25, 2025
Sep 25, 2025Change In Designation Of Mr. Sachit Jain From The Vice Chairman & Managing Director To The Chairman & Managing Director.Sep 25, 2025
Sep 25, 2025Announcement under Regulation 30 (LODR)-Change in DirectorateSep 25, 2025
Sep 25, 2025 AGM - UpdatesSep 24, 2025
Sep 24, 2025Announcement under Regulation 30 (LODR)-Change in DirectorateSep 24, 2025
Sep 24, 2025Shareholder Meeting / Postal Ballot-Outcome of AGMSep 24, 2025
Sep 24, 2025Analysts/Investors Meet - OutcomeSep 23, 2025
Sep 23, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationSep 18, 2025
Sep 18, 2025Demat Report For The Month Ended August 2025.Sep 06, 2025
Sep 06, 2025 Dispatch Of Letter To The Members Of The Company.Sep 03, 2025
Sep 03, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationSep 03, 2025
Sep 03, 2025Business Responsibility and Sustainability Reporting (BRSR)Sep 02, 2025
Sep 02, 2025Corporate Action - Fixes Record Date For DividendSep 02, 2025
Sep 02, 2025Reg. 34 (1) Annual Report.Sep 02, 2025
Sep 02, 2025Shareholders Meeting - AGM On 24-09-2025.Sep 02, 2025
Sep 02, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationAug 21, 2025
Aug 21, 2025Demat Report For The Month Ended July 2025.Aug 06, 2025
Aug 06, 2025Announcement under Regulation 30 (LODR)-Earnings Call TranscriptAug 01, 2025
Aug 01, 2025Link Of Audio RecordingJul 28, 2025
Jul 28, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationJul 26, 2025
Jul 26, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseJul 25, 2025
Jul 25, 2025Announcement under Regulation 30 (LODR)-Investor PresentationJul 25, 2025
Jul 25, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationJul 25, 2025
Jul 25, 2025Results - Un-Audited Financial Results For The Quarter Ended 30.06.2025Jul 25, 2025
Jul 25, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationJul 23, 2025
Jul 23, 2025Mutual Fund Holdings
| Funding House | Current Holding % | 1M Change | 1M Change % | 3M Change % | Last 6M Trend |
|---|---|---|---|---|---|
 ICICI Prudential Smallcap Fund Direct Plan-Growth | 0.27% | -200125 | -0.08% | -0.03% | |
| ICICI Prudential Children's Fund Direct-Growth | 0.00% | -91835 | -0.20% | -0.05% | |
 JM Aggressive Hybrid Fund Direct-Growth | 0.00% | 0 | 0.00% | 0.00% | |
| JM Small Cap Fund Direct - Growth | 0.00% | 0 | 0.00% | 0.00% | |
 Tata Small Cap Fund Direct - Growth | 0.58% | 0 | -0.02% | 0.05% |
Technical Indicators
RSI(14)
Neutral 44.94
ATR(14)
Less Volatile 10.30
STOCH(9,6)
Neutral 30.63
STOCH RSI(14)
Neutral 25.64
MACD(12,26)
Bearish -1.24
ADX(14)
Weak Trend 14.96
UO(9)
Bearish 46.37
ROC(12)
Downtrend And Accelerating -5.19
WillR(14)
Oversold -81.07
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