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Nifty
Sensex

:
:

25891.40
84556.40

22.80 (0.09%)
130.06 (0.15%)

Vardhman Special Steels Ltd.

Steel & Iron Products

Rating :

61/99

BSE: 534392 | NSE: VSSL

Watchlist

NSE BSE

304.05

23-Oct-2025

Open
High
Low
Previous Close

303
316.5
301.15
296.45

Volume
Traded Value (lacs)
52 Week High
52 Week Low

898805
276870946.4
316.5
178

Stock Summary

Market Cap(Crs)
Stock P:E
Face Value

2,924.38
32.95
10

Enterprise Value(Crs)
Dividend Yield
Price:Book Value

3,032.79
0.99%
2.38

Chart

Price | P:E | P:BV | EV:EBITDA | MCap:Sales | EPS

Revenue CAGR (%)

10 Years
5 Years
3 Years

10.46
13.49
0.56

EBITDA CAGR (%)

10 Years
5 Years
3 Years

13.53
7.45
0.95

PAT CAGR (%)

10 Years
5 Years
3 Years

36.26
16.07
-2.50

P:E (Median)

8 Years
5 Years
3 Years

17.36
18.40
20.85

P:BV (Average)

8 Years
5 Years
3 Years

2.02
2.22
2.55

EV:EBITDA (Average)

8 Years
5 Years
3 Years

10.62
10.30
11.49

Quarterly Results

Standalone Figures in Rs. Crores /

Consolidated

Description Jun 25 Jun 24 Var% Mar 25 Mar 24 Var% Dec 24 Dec 23 Var% Sep 24 Sep 23 Var%
Net Sales 433.70 414.78 4.56% 428.04 439.41 -2.59% 426.77 397.40 7.39% 494.82 415.19 19.18%
Expenses 401.87 372.42 7.91% 396.60 390.58 1.54% 391.69 364.15 7.56% 455.66 384.06 18.64%
EBITDA 31.83 42.36 -24.86% 31.44 48.84 -35.63% 35.09 33.25 5.53% 39.16 31.12 25.84%
EBIDTM 7.34% 10.21% 7.34% 11.11% 8.22% 8.37% 7.91% 7.50%
Other Income 7.50 5.67 32.28% 7.18 8.71 -17.57% 6.97 8.25 -15.52% 9.29 5.62 65.30%
Interest 3.56 4.70 -24.26% 3.47 4.66 -25.54% 5.09 4.91 3.67% 5.37 4.64 15.73%
Depreciation 9.00 8.29 8.56% 8.29 8.99 -7.79% 8.49 7.43 14.27% 8.40 7.31 14.91%
PBT 26.77 35.05 -23.62% 26.86 43.89 -38.80% 28.47 29.17 -2.40% 34.68 24.79 39.90%
Tax 6.87 8.97 -23.41% 7.12 11.10 -35.86% 7.01 7.36 -4.76% 8.86 6.34 39.75%
PAT 19.89 26.08 -23.73% 19.73 32.79 -39.83% 21.46 21.81 -1.60% 25.82 18.46 39.87%
PATM 4.59% 6.29% 4.61% 7.46% 5.03% 5.49% 5.22% 4.45%
EPS 2.06 2.70 -23.70% 2.04 3.40 -40.00% 2.22 2.26 -1.77% 2.68 1.91 40.31%

Description Jun 25 Jun 24 Var% Mar 25 Mar 24 Var% Dec 24 Dec 23 Var% Sep 24 Sep 23 Var%
Net Sales 0.00 414.78 -100.00% 428.04 439.41 -2.59% 426.77 397.40 7.39% 494.82 415.19 19.18%
Expenses 0.00 372.42 -100.00% 396.60 390.58 1.54% 391.69 364.15 7.56% 455.66 384.06 18.64%
EBITDA 0.00 42.36 -100.00% 31.44 48.84 -35.63% 35.09 33.25 5.53% 39.16 31.12 25.84%
EBIDTM 0.00% 10.21% 7.34% 11.11% 8.22% 8.37% 7.91% 7.50%
Other Income 0.00 5.67 -100.00% 7.18 8.71 -17.57% 6.97 8.25 -15.52% 9.29 5.62 65.30%
Interest 0.00 4.70 -100.00% 3.47 4.66 -25.54% 5.09 4.91 3.67% 5.37 4.64 15.73%
Depreciation 0.00 8.29 -100.00% 8.29 8.99 -7.79% 8.49 7.43 14.27% 8.40 7.31 14.91%
PBT 0.00 35.05 -100.00% 26.86 43.89 -38.80% 28.47 29.17 -2.40% 34.68 24.79 39.90%
Tax 0.00 8.97 -100.00% 7.12 11.10 -35.86% 7.01 7.36 -4.76% 8.86 6.34 39.75%
PAT 0.00 26.08 -100.00% 19.73 32.79 -39.83% 21.46 21.81 -1.60% 25.82 18.46 39.87%
PATM 0.00% 6.29% 4.61% 7.46% 5.03% 5.49% 5.22% 4.45%
EPS 0.00 3.20 -100.00% 2.41 4.03 -40.20% 2.63 2.68 -1.87% 3.17 2.27 39.65%

Annual Results

Standalone Figures in Rs. Crores /

Consolidated

Right to Left

Description TTM Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17 Mar 16
Net Sales 1,783.33 1,764.41 1,661.36 1,734.99 1,368.46 937.08 846.20 1,120.76 858.96 673.81 652.74 Net Sales Growth 6.99% 6.20% -4.24% 26.78% 46.03% 10.74% -24.50% 30.48% 27.48% 3.23% Cost Of Goods Sold 1,113.43 1,082.93 1,011.63 1,109.14 796.82 525.16 538.00 671.72 469.68 352.57 354.99 Gross Profit 669.90 681.48 649.73 625.85 571.64 411.91 308.20 449.04 389.28 321.24 297.75 GP Margin 37.56% 38.62% 39.11% 36.07% 41.77% 43.96% 36.42% 40.07% 45.32% 47.68% 45.62% Total Expenditure 1,645.82 1,616.37 1,519.02 1,593.82 1,199.50 833.73 806.48 1,052.92 797.03 613.97 611.13 Power & Fuel Cost - 177.37 172.58 178.60 141.77 116.26 95.49 132.35 127.81 109.48 107.56 % Of Sales - 10.05% 10.39% 10.29% 10.36% 12.41% 11.28% 11.81% 14.88% 16.25% 16.48% Employee Cost - 103.39 96.21 89.95 80.99 59.61 48.13 51.30 46.73 39.80 33.69 % Of Sales - 5.86% 5.79% 5.18% 5.92% 6.36% 5.69% 4.58% 5.44% 5.91% 5.16% Manufacturing Exp. - 196.49 188.69 166.00 131.91 92.78 87.46 155.71 107.97 69.98 74.73 % Of Sales - 11.14% 11.36% 9.57% 9.64% 9.90% 10.34% 13.89% 12.57% 10.39% 11.45% General & Admin Exp. - 8.67 8.04 7.14 6.51 5.82 3.81 3.37 3.68 3.55 2.73 % Of Sales - 0.49% 0.48% 0.41% 0.48% 0.62% 0.45% 0.30% 0.43% 0.53% 0.42% Selling & Distn. Exp. - 40.72 34.22 37.66 32.06 21.87 21.41 27.27 25.83 20.94 19.54 % Of Sales - 2.31% 2.06% 2.17% 2.34% 2.33% 2.53% 2.43% 3.01% 3.11% 2.99% Miscellaneous Exp. - 6.79 7.66 5.34 9.43 12.22 12.19 11.20 15.34 17.64 19.54 % Of Sales - 0.38% 0.46% 0.31% 0.69% 1.30% 1.44% 1.00% 1.79% 2.62% 2.74% EBITDA 137.52 148.04 142.34 141.17 168.96 103.35 39.72 67.84 61.93 59.84 41.61 EBITDA Margin 7.71% 8.39% 8.57% 8.14% 12.35% 11.03% 4.69% 6.05% 7.21% 8.88% 6.37% Other Income 30.94 29.11 29.92 38.91 33.62 12.96 9.40 1.87 6.11 5.64 2.65 Interest 17.49 18.63 18.42 17.65 17.28 19.71 25.72 23.66 21.43 28.28 23.02 Depreciation 34.18 33.47 30.98 28.12 26.96 30.23 25.72 23.92 21.51 18.07 17.03 PBT 116.78 125.06 122.86 134.31 158.34 66.38 -2.32 22.14 25.10 19.13 4.22 Tax 29.86 31.97 31.23 33.86 57.59 22.18 -5.66 -0.07 0.06 0.00 0.00 Tax Rate 25.57% 25.56% 25.42% 25.21% 36.37% 33.41% 243.97% -0.32% 0.24% 0.00% 0.00% PAT 86.90 93.09 91.63 100.45 100.75 44.19 3.34 22.21 25.04 19.14 4.22 PAT before Minority Interest 86.90 93.09 91.63 100.45 100.75 44.19 3.34 22.21 25.04 19.14 4.22 Minority Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 PAT Margin 4.87% 5.28% 5.52% 5.79% 7.36% 4.72% 0.39% 1.98% 2.92% 2.84% 0.65% PAT Growth -12.35% 1.59% -8.78% -0.30% 127.99% 1,223.05% -84.96% -11.30% 30.83% 353.55% EPS 9.01 9.65 9.50 10.41 10.44 4.58 0.35 2.30 2.59 1.98 0.44

Description TTM Mar 25 Mar 24
Net Sales - 1,764.41 1,661.36 Net Sales Growth - 6.20% Cost Of Goods Sold - 1,082.93 1,011.63 Gross Profit - 681.48 649.73 GP Margin - 38.62% 39.11% Total Expenditure - 1,616.37 1,519.02 Power & Fuel Cost - 177.37 172.58 % Of Sales - 10.05% 10.39% Employee Cost - 103.39 96.21 % Of Sales - 5.86% 5.79% Manufacturing Exp. - 196.49 188.69 % Of Sales - 11.14% 11.36% General & Admin Exp. - 8.67 8.04 % Of Sales - 0.49% 0.48% Selling & Distn. Exp. - 40.72 34.22 % Of Sales - 2.31% 2.06% Miscellaneous Exp. - 6.79 7.66 % Of Sales - 0.38% 0.46% EBITDA - 148.04 142.34 EBITDA Margin - 8.39% 8.57% Other Income - 29.11 29.92 Interest - 18.63 18.42 Depreciation - 33.47 30.98 PBT - 125.06 122.86 Tax - 31.97 31.23 Tax Rate - 25.56% 25.42% PAT - 93.09 91.63 PAT before Minority Interest - 93.09 91.63 Minority Interest - 0.00 0.00 PAT Margin - 5.28% 5.52% PAT Growth - 1.59% EPS - 9.65 9.50

Results Balance Sheet

Standalone Figures in Rs. Crores /

Consolidated

Right to Left

Description Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17 Mar 16
Shareholder's Funds 797.92 719.35 642.21 554.96 459.36 413.63 361.99 339.32 198.08 179.17 Share Capital 81.73 81.46 40.63 40.56 40.51 40.39 35.76 35.70 18.56 18.56 Total Reserves 714.27 636.14 600.34 513.76 418.40 372.56 325.56 303.07 179.53 160.62 Non-Current Liabilities 24.78 37.09 125.59 134.14 121.67 109.93 141.17 92.60 116.46 129.79 Secured Loans 3.30 14.10 44.03 78.89 109.65 107.84 135.13 101.46 115.45 129.02 Unsecured Loans 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Long Term Provisions 2.16 1.95 60.08 32.91 20.25 20.14 19.88 0.85 0.80 0.63 Current Liabilities 313.22 283.22 354.97 285.71 242.98 245.66 390.81 264.42 298.14 304.87 Trade Payables 139.30 174.49 185.56 147.48 130.18 61.73 163.50 60.61 34.91 41.00 Other Current Liabilities 65.97 61.26 55.45 59.76 40.10 34.44 39.97 55.27 124.25 96.43 Short Term Borrowings 105.60 45.83 78.30 51.16 59.86 148.62 186.82 118.50 138.71 166.82 Short Term Provisions 2.34 1.64 35.66 27.31 12.84 0.86 0.53 30.04 0.27 0.62 Total Liabilities 1,135.92 1,039.66 1,122.77 974.81 824.01 769.22 893.97 696.34 612.68 613.83 Net Block 308.71 324.70 293.72 289.16 282.54 310.11 279.83 249.56 264.56 250.60 Gross Block 558.71 542.17 482.19 449.62 416.99 415.67 359.68 305.49 362.08 331.47 Accumulated Depreciation 250.00 217.47 188.46 160.46 134.46 105.55 79.85 55.93 97.52 80.87 Non Current Assets 474.76 365.39 390.03 355.25 329.25 408.35 348.15 278.84 277.60 266.60 Capital Work in Progress 117.03 0.99 11.91 12.88 12.74 12.33 32.57 6.99 1.11 2.11 Non Current Investment 7.66 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.68 1.42 Long Term Loans & Adv. 40.77 39.14 84.04 53.05 33.91 34.51 35.66 22.13 9.80 11.11 Other Non Current Assets 0.60 0.56 0.35 0.16 0.07 51.40 0.10 0.16 1.43 1.36 Current Assets 661.15 667.35 732.74 619.56 494.76 360.87 545.82 417.50 335.08 347.23 Current Investments 10.01 0.00 20.00 15.40 0.00 5.00 0.01 8.16 0.31 13.08 Inventories 334.97 356.17 362.68 304.32 192.26 151.78 313.22 158.60 117.83 106.90 Sundry Debtors 261.30 262.17 261.55 221.86 224.30 179.89 187.26 194.55 188.97 194.17 Cash & Bank 11.32 7.76 9.61 15.98 52.34 2.30 0.28 7.49 5.95 3.79 Other Current Assets 43.55 25.18 22.19 22.68 25.86 21.89 45.05 48.70 22.03 29.29 Short Term Loans & Adv. 7.86 16.06 56.71 39.32 17.68 7.66 35.52 44.28 19.81 26.85 Net Current Assets 347.94 384.12 377.77 333.85 251.78 115.21 155.01 153.09 36.94 42.36 Total Assets 1,135.91 1,032.74 1,122.77 974.81 824.01 769.22 893.97 696.34 612.68 613.83

Description Mar 25 Mar 24
Shareholder's Funds 797.92 719.35 Share Capital 81.73 81.46 Total Reserves 714.27 636.14 Non-Current Liabilities 24.78 37.09 Secured Loans 3.30 14.10 Unsecured Loans 0.00 0.00 Long Term Provisions 2.16 1.95 Current Liabilities 313.22 283.22 Trade Payables 139.30 174.49 Other Current Liabilities 65.97 61.26 Short Term Borrowings 105.60 45.83 Short Term Provisions 2.34 1.64 Total Liabilities 1,135.92 1,039.66 Net Block 308.71 324.70 Gross Block 558.71 542.17 Accumulated Depreciation 250.00 217.47 Non Current Assets 474.76 365.39 Capital Work in Progress 117.03 0.99 Non Current Investment 7.66 0.00 Long Term Loans & Adv. 40.77 39.14 Other Non Current Assets 0.60 0.56 Current Assets 661.15 667.35 Current Investments 10.01 0.00 Inventories 334.97 356.17 Sundry Debtors 261.30 262.17 Cash & Bank 11.32 7.76 Other Current Assets 43.55 25.18 Short Term Loans & Adv. 7.86 16.06 Net Current Assets 347.94 384.12 Total Assets 1,135.91 1,032.74

Cash Flow

Standalone Figures in Rs. Crores /

Consolidated

Right to Left

Description Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17 Mar 16
Cash From Operating Activity 126.91 142.41 73.58 58.88 67.28 135.43 -18.85 11.21 68.04 46.38 PBT 125.06 122.86 134.31 158.34 66.38 -2.32 22.14 25.10 19.13 4.22 Adjustment 49.23 47.71 43.43 37.68 50.43 46.36 49.57 45.25 44.58 39.99 Changes in Working Capital -14.55 3.48 -65.67 -114.75 -39.87 92.27 -84.55 -59.48 4.10 2.16 Cash after chg. in Working capital 159.74 174.05 112.06 81.26 76.94 136.32 -12.83 10.87 67.81 46.37 Interest Paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Tax Paid -32.83 -31.64 -38.49 -22.38 -9.65 -0.89 -6.01 0.34 0.22 0.02 Other Direct Exp. Paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Extra & Other Items 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Cash From Investing Activity -126.83 -50.14 -14.83 -9.11 6.80 -88.17 -70.12 -16.25 -15.65 -15.76 Net Fixed Assets -132.58 -49.06 -31.60 -32.77 -1.73 -35.75 -79.77 50.71 -29.61 -16.31 Net Investments -17.67 20.00 -4.60 -15.40 5.00 -4.99 8.15 -7.17 13.51 -0.42 Others 23.42 -21.08 21.37 39.06 3.53 -47.43 1.50 -59.79 0.45 0.97 Cash from Financing Activity 3.03 -94.16 -49.48 -51.84 -74.04 -45.24 81.77 6.58 -50.23 -35.48 Net Cash Inflow / Outflow 3.12 -1.89 9.26 -2.07 0.04 2.02 -7.20 1.54 2.16 -4.86 Opening Cash & Equivalents 7.64 9.54 0.27 2.34 2.30 0.28 7.49 5.95 3.79 8.65 Closing Cash & Equivalent 10.76 7.64 9.54 0.27 2.34 2.30 0.28 7.49 5.95 3.79

Description Mar 25 Mar 24
Cash From Operating Activity 126.91 142.41 PBT 125.06 122.86 Adjustment 49.23 47.71 Changes in Working Capital -14.55 3.48 Cash after chg. in Working capital 159.74 174.05 Interest Paid 0.00 0.00 Tax Paid -32.83 -31.64 Other Direct Exp. Paid 0.00 0.00 Extra & Other Items 0.00 0.00 Cash From Investing Activity -126.83 -50.14 Net Fixed Assets -132.58 Net Investments -17.67 Others 23.42 Cash from Financing Activity 3.03 -94.16 Net Cash Inflow / Outflow 3.12 -1.89 Opening Cash & Equivalents 7.64 9.54 Closing Cash & Equivalent 10.76 7.64

Financial Ratios

Standalone /

Consolidated

Right to Left

Description Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17 Mar 16
Book Value (Rs.) 97.39 88.09 78.88 68.33 113.29 102.23 101.04 94.90 77.69 70.28 ROA 8.56% 8.47% 9.58% 11.20% 5.55% 0.40% 2.79% 3.83% 3.12% 0.69% ROE 12.30% 13.49% 16.81% 19.89% 10.14% 0.86% 6.34% 9.33% 10.15% 2.42% ROCE 16.71% 17.80% 20.25% 25.74% 12.97% 3.41% 7.25% 8.60% 9.20% 5.25% Fixed Asset Turnover 3.22 3.26 3.72 3.16 2.25 2.18 3.37 2.63 2.18 2.32 Receivable days 53.93 57.29 50.85 59.50 78.72 79.18 62.17 79.73 92.43 93.37 Inventory Days 71.20 78.63 70.16 66.22 67.00 100.29 76.83 57.47 54.21 60.00 Payable days 52.88 64.95 54.80 63.59 66.69 52.56 33.36 21.26 22.23 29.21 Cash Conversion Cycle 72.25 70.96 66.21 62.13 79.03 126.91 105.64 115.94 124.41 124.16 Total Debt/Equity 0.15 0.12 0.22 0.29 0.41 0.64 0.92 0.67 1.60 1.88 Interest Cover 7.71 7.67 8.61 10.16 4.37 0.91 1.94 2.17 1.68 1.18

Description Mar 25 Mar 24
Book Value (Rs.) 97.39 88.09 ROA 8.56% 8.81% ROE 12.30% 12.77% ROCE 16.71% 17.61% Fixed Asset Turnover 3.22 3.08 Receivable days 53.93 57.35 Inventory Days 71.20 77.92 Payable days 52.88 62.96 Cash Conversion Cycle 72.25 72.31 Total Debt/Equity 0.15 0.12 Interest Cover 7.71 7.67

Top Investors:

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Annual Reports:

News Update:

Vardhman Special - Quarterly Results
25th Jul 2025, 13:58 PM

Read More

Source: www.accordfintech.com | DISCLAIMER: Information is provided " as is" and solely for informational purposes, not for trading purposes or advice, and may be delayed.

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