Vardhman Special Steels Ltd

Vardhman Special Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Vardhman Special Steels Ltd

₹ 253 0.32%
11 Dec 4:00 p.m.
vardhmansteel.com BSE: 534392 NSE: VSSL
About

Vardhman Special Steels is engaged in manufacturing of Billets, Steel bars & Rods and Bright Bars of various categories of special and alloy steels.

Key Points

Background
Vardhman Group ventured into the Steel business way back in 1973. In 2010, Vardhman Textiles Limited demerged the steel business into a separate legal entity Vardhman Special Steels Limited. [1]

Website BSE NSE
  • Market Cap ₹ 2,050 Cr.
  • Current Price ₹ 253
  • High / Low ₹ 345 / 185
  • Stock P/E 19.2
  • Book Value ₹ 92.7
  • Dividend Yield 0.79 %
  • ROCE 17.5 %
  • ROE 13.2 %
  • Face Value ₹ 10.0
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Pros

  • Company has delivered good profit growth of 32.6% CAGR over last 5 years

Cons

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Steel Industry: Steel - Medium / Small

Part of BSE Allcap BSE SmallCap BSE Industrials

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
336 359 343 469 443 401 422 409 415 397 439 415 495
290 321 305 423 408 364 398 380 384 364 391 372 456
Operating Profit 46 39 38 46 35 36 24 29 31 33 49 42 39
OPM % 14% 11% 11% 10% 8% 9% 6% 7% 8% 8% 11% 10% 8%
3 2 22 6 14 13 5 7 6 8 9 6 9
Interest 5 5 4 4 4 5 5 4 5 5 5 5 5
Depreciation 7 7 7 7 7 7 7 7 7 7 9 8 8
Profit before tax 37 29 49 41 38 38 18 25 25 29 44 35 35
Tax % 35% 34% 40% 25% 25% 25% 24% 26% 26% 25% 25% 26% 26%
24 19 29 30 28 28 14 19 18 22 33 26 26
EPS in Rs 3.00 2.40 3.60 3.74 3.45 3.51 1.68 2.29 2.27 2.68 4.03 3.20 3.17
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
440 367 658 653 674 859 1,121 846 937 1,368 1,735 1,661 1,746
423 572 646 610 612 797 1,053 806 834 1,195 1,594 1,519 1,583
Operating Profit 18 -205 12 43 62 62 68 40 104 174 141 142 164
OPM % 4% -56% 2% 7% 9% 7% 6% 5% 11% 13% 8% 9% 9%
6 209 7 1 4 6 2 9 13 29 39 30 32
Interest 11 12 20 23 28 21 24 26 20 17 18 18 20
Depreciation 4 6 14 17 18 22 24 26 30 27 28 31 33
Profit before tax 8 -13 -15 4 19 25 22 -2 66 158 134 123 143
Tax % 42% -28% 0% -0% -0% 0% -0% -244% 33% 36% 25% 25%
5 -9 -15 4 19 25 22 3 44 101 100 92 106
EPS in Rs 0.78 -1.52 -2.45 0.68 3.10 3.51 3.11 0.41 5.46 12.42 12.36 11.25 13.08
Dividend Payout % -0% -0% -0% -0% -0% -0% -0% -0% 14% 14% 8% 18%
Compounded Sales Growth
10 Years: 16%
5 Years: 8%
3 Years: 21%
TTM: 6%
Compounded Profit Growth
10 Years: 19%
5 Years: 33%
3 Years: 27%
TTM: 35%
Stock Price CAGR
10 Years: 36%
5 Years: 51%
3 Years: 28%
1 Year: 9%
Return on Equity
10 Years: 10%
5 Years: 13%
3 Years: 16%
Last Year: 13%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 19 19 19 19 19 36 36 40 41 41 41 81 82
Reserves 177 167 151 161 180 304 326 373 419 514 602 638 674
307 295 350 338 316 228 334 266 191 162 144 84 142
81 83 94 97 99 109 194 90 153 204 244 237 275
Total Liabilities 583 564 615 614 613 677 889 770 803 921 1,031 1,040 1,172
41 210 230 251 265 250 280 310 283 289 294 325 321
CWIP 131 30 21 2 1 7 33 12 13 13 12 1 3
Investments 122 32 14 14 1 8 0 5 -0 15 20 -0 37
289 292 350 347 346 412 577 443 507 603 705 714 810
Total Assets 583 564 615 614 613 677 889 770 803 921 1,031 1,040 1,172

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
55 -36 -33 46 68 11 -19 135 67 59 74 142
-154 52 -4 -16 -16 -16 -70 -88 7 -9 -15 -50
42 -33 31 -35 -50 7 82 -45 -74 -52 -49 -94
Net Cash Flow -57 -16 -5 -5 2 2 -7 2 0 -2 9 -2

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 85 122 99 109 102 83 61 78 87 59 55 58
Inventory Days 163 116 119 110 122 123 170 103 134 139 119 129
Days Payable 47 41 46 42 36 47 89 42 90 68 61 63
Cash Conversion Cycle 200 197 172 176 188 159 142 139 131 131 113 123
Working Capital Days 134 187 128 108 92 109 111 111 109 103 94 99
ROCE % 4% -3% -0% 5% 9% 8% 7% 3% 13% 26% 20% 18%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
60.87% 60.78% 60.81% 60.81% 60.81% 60.71% 60.71% 60.71% 60.67% 60.55% 60.55% 60.53%
0.39% 0.38% 0.31% 0.33% 0.54% 1.14% 1.22% 0.96% 0.75% 0.49% 0.64% 0.60%
1.05% 1.27% 1.27% 1.24% 0.79% 1.03% 1.06% 2.42% 2.50% 2.63% 3.14% 3.84%
37.70% 37.56% 37.61% 37.61% 37.86% 37.13% 37.03% 35.91% 36.08% 36.33% 35.67% 35.01%
No. of Shareholders 36,76536,34835,01333,56031,93430,12431,95131,90633,71532,86634,68335,229

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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