Vardhman Special Steel (VSSL) is among India’s leading steel bar producers for automotive applications. It has specialised product offerings, which include steel bars, rods & bright bars of various categories of special & alloy steel.
VSSL, incorporated in May 2010, is headquartered in Ludhiana, Punjab
In August 2019, VSSL entered into a strategic alliance with Aichi Steel Corporation (ASC) Japan, the main material producer for Toyota Group wherein ASC had participated in equity and had entered into a Technical Assistance Agreement
Q4FY22 Results
VSSL reported a steady performance in Q4FY22.
For Q4FY22, VSSL reported topline of ₹ 343 crore, up 3% YoY but down 4% QoQ. During the quarter, VSSL reported sales volume of 41596 tonnes, down 13% YoY and 7% QoQ
During Q4FY22, on sequential basis VSSL reported increase in its EBITDA/tonne. During the quarter, VSSL reported EBITDA/tonne of ₹ 9148/tonne as compared to ₹ 8668/tonne in Q3FY22. EBITDA for the quarter was at ₹38 crore, down 2% QoQ and 27% YoY. VSSL also had inventory gain in Q4FY22 which aided the operational performance.
PAT for Q4FY22 was at ₹ 29 crore, up 11% YoY & 50% QoQ. The growth in PAT was supported by sharp increase in other income. Other income for the quarter was at ₹ 22 crore compared to ₹ 2 crore each in Q4FY21 as well as Q3FY22. Other income included one-time gain on account of electricity duty exemption granted to company for September 2019 to March 2022
Iron & Steel Products company Vardhman Special Steels announced Q1FY24 results:
The volumes for Q1FY24 stood at 47,435 tonnes as against 52,265 tonnes in Q1FY23 – YoY decrease of 9.24%.
Revenue from Operations of Rs 409.36 crore in Q1FY24, as against Rs 469.16 crore in Q1FY23, down 12.75% YoY
EBITDA (including other income) for Q1FY24 is Rs 36.47 crore vs Rs 51.61 crore in Q1FY23, a decrease of 29.34%
EBITDA per ton for Q1FY24 was Rs 7,688
PAT for Q1FY24 stood at Rs 18.57 crore as against PAT of Rs 30.30 crore in Q1FY23, a decrease of 38.70%
EPS for Q1FY24 stood at Rs 2.29 vs Rs 3.73 in Q1FY23
Commenting on the result, Sachit Jain, Vice Chairman & Managing Director, Vardhman Special Steels said, “This quarter our revenue declined by 12.75% mainly due to decline in volumes and prices as compared to last year. As mentioned in Q4FY23 earnings call, this year will be a year of consolidation for us. Our production for Aichi Steel continues to be in sync as per our stated plan and that contribution will only continue to increase each year.
I would like to express my gratitude towards our dedicated employees, partners and stakeholders. We continuously strive to keep up the momentum of efforts and hard work and keep performing as per stated targets.”
Vardhman Special Steels Limited, a public limited company was incorporated under the provisions of Companies Act, 1956 on 14 May 2010 in Ludhiana. The Company`s business primarily consists manufacturing billets, steel bars and bright bars of various categories of special and alloy steels.
The company is leading manufacturer of special steels. As a part of US$1.20 billion Vardhman Group, the company features among the leading producers of special and alloy steels catering primarily to domestic automotive sector. Presently, it manufactures high quality special steel which is currently being imported. The company emphasized in building relationships with its clients and business associates.
The company caters to diverse requirements of hot rolled bars for engineering, automotive, tractor, bearing and allied industries. It incorporates some of the most advanced manufacturing facilities with equally reliable support facilities. The plant has well-conceived layout plan with modern material handling facilities-all designed for economic processing of materials and human skills. Vardhman`s ability to adopt changes in technology is evident in its extensive use of automation and contemporary concepts.
With manufacturing plants, the company has an extensive list of clientele, including various globally renowned corporations, such as Toyota, Hero Moto Corp, Caterpillar, Hino Motors, Bosch. And thus the company is an ISO 14001:2004; OHSAS 18001:2007; ISO 9001:2008; ISO/TS 16949:2009 certified organization.
Vardhman Special Steels Limited, a public limited company was incorporated under the provisions of Companies Act, 1956 on 14 May 2010 in Ludhiana. The Company`s business primarily consists manufacturing billets, steel bars and bright bars of various categories of special and alloy steels.
The company is leading manufacturer of special steels. As a part of US$1.20 billion Vardhman Group, the company features among the leading producers of special and alloy steels catering primarily to domestic automotive sector. Presently, it manufactures high quality special steel which is currently being imported. The company emphasized in building relationships with its clients and business associates.
The company caters to diverse requirements of hot rolled bars for engineering, automotive, tractor, bearing and allied industries. It incorporates some of the most advanced manufacturing facilities with equally reliable support facilities. The plant has well-conceived layout plan with modern material handling facilities-all designed for economic processing of materials and human skills. Vardhman`s ability to adopt changes in technology is evident in its extensive use of automation and contemporary concepts.
With manufacturing plants, the company has an extensive list of clientele, including various globally renowned corporations, such as Toyota, Hero Moto Corp, Caterpillar, Hino Motors, Bosch. And thus the company is an ISO 14001:2004; OHSAS 18001:2007; ISO 9001:2008; ISO/TS 16949:2009 certified organization.
You can buy Vardhman Special Steels Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Vardhman Special Steels Ltd Share.
Company share prices and volatile and keep changing according to the market conditions. As of Sep 21, 2023 03:47 PM the closing price of Vardhman Special Steels Ltd was ₹ 201.05.
Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of Sep 21, 2023 03:47 PM, the market cap of Vardhman Special Steels Ltd stood at ₹ 1,633.63.