Vardhman Special Steels Limited submitted a regulatory filing to BSE Limited and The National Stock Exchange of India Ltd pursuant to Regulation 30 of SEBI Listing Regulations. The filing contained the unaudited financial results for the quarter ended 30th June, 2026, approved in the Board meeting held on 22nd July, 2026.
Financial Performance Highlights (Q1 FY27 vs Q1 FY26 vs Q4 FY26)
- Sales Volume: 59,103 tonnes (vs 55,574 tonnes in Q1 FY26, +6.35%; vs 59,370 tonnes in Q4 FY26)
- Revenue from Operations: ₹486.01 crore (vs ₹433.70 crore in Q1 FY26, +12.06%; vs ₹457.92 crore in Q4 FY26)
- EBITDA (including other income): ₹68.29 crore (vs ₹39.33 crore in Q1 FY26, +73.63%; vs ₹56.54 crore in Q4 FY26)
- PAT: ₹41.19 crore (vs ₹19.90 crore in Q1 FY26, +107.01%; vs ₹33.98 crore in Q4 FY26)
- Basic EPS: ₹4.26 (vs ₹2.43 in Q1 FY26, +75.31%; vs ₹3.52 in Q4 FY26)
- EBITDA per ton: ₹10,764 (excluding non-operational income from unutilized funds invested by ASC and interest on advance deposit with PSPCL)
Operational Performance Drivers
- Volume growth attributed to good demand across key customer segments
- Higher realizations following price hikes received from OEMs
- Improvement in operational efficiencies and cost savings from solar power implementation
- Decrease in interest cost contributing to PAT growth
Strategic Developments
- Commissioning of Kocks Block and new reheating furnace in previous financial year has strengthened manufacturing capabilities
- Finished rolling capacity expanded to 2.7 Lacs MTPA
- Solar power plant commissioning contributing to lower energy costs
- Ongoing development of 5 Lacs MTPA Greenfield special steel facility
- Collaboration with Aichi Steel Corporation for forging and machining plant
Management Commentary
Mr. Sachit Jain, Chairman & Managing Director, stated that the company commenced FY27 on a strong note with healthy growth in production, revenues, and profitability. He emphasized sustained demand across key customer segments, improved operating efficiencies, and better realizations. The strategic investments are translating into tangible operational benefits, positioning the company well for sustainable value creation.
Business Overview
Vardhman Special Steels Limited is among India's leading producers of special steels and a pioneer in green steel manufacturing. The company caters to diverse sectors including automotive, engineering, tractors, bearings, and allied industries. Their product suite comprises billets, steel bars, rods, and bright bars of various categories of special and alloy steels. The company serves international markets including Thailand, Taiwan, Turkey, Italy, Russia, Germany, Vietnam, and Japan, with customers including Toyota, Maruti, Hyundai, Hero Moto Corp, Caterpillar, Hino Motors, and Bajaj.