Vardhman Special Steels Ltd

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

Vardhman Special Steels Ltd

₹ 287 -2.27%
31 Oct - close price
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 ₹ 2,770 Cr.
  • Current Price ₹ 287
  • High / Low ₹ 324 / 178
  • Stock P/E 30.1
  • Book Value ₹ 97.6
  • Dividend Yield 1.05 %
  • ROCE 16.5 %
  • ROE 12.1 %
  • Face Value ₹ 10.0
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Pros

Cons

  • Promoter holding has decreased over last 3 years: -9.68%

* 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

Industrials Capital Goods Industrial Products Iron & Steel Products

Part of BSE SmallCap BSE Allcap BSE Industrials

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
409 415 397 439 415 495 427 428
380 384 364 391 372 456 392 397
Operating Profit 29 31 33 49 42 39 35 31
OPM % 7% 8% 8% 11% 10% 8% 8% 7%
7 6 8 9 6 9 7 7
Interest 4 5 5 5 5 5 5 3
Depreciation 7 7 7 9 8 8 8 8
Profit before tax 25 25 29 44 35 35 28 27
Tax % 26% 26% 25% 25% 26% 26% 25% 27%
19 18 22 33 26 26 21 20
EPS in Rs 2.29 2.27 2.68 4.03 3.20 3.17 2.63 2.41
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2024 Mar 2025
1,661 1,764
1,519 1,616
Operating Profit 142 148
OPM % 9% 8%
30 29
Interest 18 19
Depreciation 31 33
Profit before tax 123 125
Tax % 25% 26%
92 93
EPS in Rs 11.25 11.39
Dividend Payout % 18% 26%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: %
TTM: 6%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: 2%
Stock Price CAGR
10 Years: 36%
5 Years: 52%
3 Years: 31%
1 Year: 5%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: 12%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2024 Mar 2025
Equity Capital 81 82
Reserves 638 716
84 120
237 218
Total Liabilities 1,040 1,136
325 309
CWIP 1 117
Investments 0 18
714 693
Total Assets 1,040 1,136

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2024 Mar 2025
142 127
-50 -127
-94 3
Net Cash Flow -2 3

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2024 Mar 2025
Debtor Days 58 54
Inventory Days 129 113
Days Payable 63 47
Cash Conversion Cycle 123 120
Working Capital Days 84 68
ROCE % 17%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
60.81% 60.71% 60.71% 60.71% 60.67% 60.55% 60.55% 60.53% 60.49% 60.37% 60.37% 51.13%
0.54% 1.14% 1.22% 0.96% 0.75% 0.49% 0.64% 0.60% 0.58% 0.64% 0.58% 0.54%
0.79% 1.03% 1.06% 2.42% 2.50% 2.63% 3.14% 3.84% 4.51% 4.17% 4.17% 3.63%
37.86% 37.13% 37.03% 35.91% 36.08% 36.33% 35.67% 35.01% 34.42% 34.82% 34.88% 44.70%
No. of Shareholders 31,93430,12431,95131,90633,71532,86634,68335,22936,34836,28735,85636,443

* 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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