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Vardhman Special Steels Ltd share Price Today

Company details

313.20
324.90
174.80
329.00
6M Return 47.96%
1Y Return 53.96%
Mkt Cap.(Cr) 2,579.84
Volume 41,124
Div Yield 0.63%
OI
-
OI Chg %
-
Volume 41,124

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On track to achieve export share target by FY25…
About The Stock

    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 entered into a Technical Assistance Agreement
VSSL ties up with Toyota global supply chain to start mass production of steel
    • VSSL has started mass production of steel for forging companies of Aichi Steel Corporation (ASC) based in South East Asia for some grades for which VSSL has received the approvals. Sales of these products for FY24 will be ~10000 tonnes
    • The volume is expected to further increase with more approvals being received in the next two to three years. This development has established VSSL as a supplier of high quality automotive steel. In general, going forward, VSSL has a target to increase the share of export volumes from currently ~5% in FY22 to ~20-25% by FY25

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Iron & Steel products company Vardhman Special Steels announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • The volumes for the quarter stood at 52,118 tonnes as against 50,511 tonnes in Q4FY23 – YoY increase of 3.18%.
  • Revenue from Operations stood at Rs 439.41 crore in Q4FY24, as against Rs 422.04 crore in Q4FY23, increase of 4.12% YoY.
  • EBITDA (including other income) for the quarter was Rs 57.54 crore as against Rs 29.67 crore in Q4FY23, increase of 93.93% mainly due to increase in higher sales volume by 3.12% resulting in higher revenue by 4.12%.
  • EBITDA per Ton for the quarter was Rs 11,041.
  • Q4FY24 PAT stood at Rs 32.79 crore as against PAT of Rs 13.68 crore in Q4FY23, increase of 139.69%.
  • EPS for the quarter stood at Rs 4.02 vs Rs 1.66 in Q4FY23.

FY24 Financial Highlights:

  • The volumes stood at 1,95,024 tonnes as against 2,00,095 tonnes in FY23 – YoY decrease of 2.53% mainly due to two shutdowns for about 15 days each taken in Rolling Mill during the year.
  • Revenue from Operations stood at Rs 1,661.36 crore in FY24, as against Rs 1,734.99 crore in FY23, a decrease of 4.24% YoY, mainly on account of lower sales volumes coupled with decline in prices.
  • EBITDA (including other income) for FY24 was Rs 172.26 crore as against Rs 180.08 crore in FY23, a decrease of 4.34% mainly due to decrease in revenue.
  • EBITDA per Ton for FY24 was Rs 8,833.
  • FY24 PAT stood at Rs 91.63 crore as against PAT of Rs 100.45 crore in FY23, decrease of 8.78%.
  • EPS for FY24 stood at Rs 11.26 vs Rs 12.35 in FY23.
  • The Board has recommended a dividend of Rs 2 per share on fully paid-up equity shares, subject to approval in the Annual General Meeting

Commenting on the result, Sachit Jain, Vice Chairman & Managing Director, Vardhman Special Steels Ltd. said, “During the current quarter, we achieved total revenue of Rs 439.41 crore with EBIDTA of Rs 57.54 crore and PAT of Rs 32.79 crore. In this quarter, our EBIDTA per ton was Rs 11,041.

The results are in line with our last communication that Q4 performance will be better than Q3 and that of 2nd half performance will be better than 1st half performance. This performance has helped us to partially recover the drop-in profits in the first half making the full year profitability close to previous year.

This quarter is significant for the fact that we could test our stated production capacity of 2,60,000 TPA of Billet production. We are now striving to take this capacity of Billet Production to 2,85,000 TPA by FY26."

Result PDF

View Other Company Results

Vardhman Special Steels Ltd shares SWOT Analysis

Strengths (8)

  • Strong Momentum: Price above short, medium and long term moving averages
  • Growth in Net Profit with increasing Profit Margin (QoQ)
  • Company with Low Debt

Weakness (7)

  • Negative profit growth, promoters decreasing shareholding QoQ
  • Inefficient use of capital to generate profits - RoCE declining in the last 2 years
  • Inefficient use of shareholder funds - ROE declining in the last 2 years

Opportunity (1)

  • RSI indicating price strength

Threats (1)

  • Promoter decreasing their shareholding

Resistance and support

R1 322.1
R2 329.4
R3 333.8
Pivot

317.67

S1 310.4
S2 306.0
S3 298.7
EMA SMA
285.7
257.4
238.9
222.0
288.1
242.8
228.9
219.5
Delivery and volume
CLIENT NAME DEAL TYPE ACTION DATE AVG. PRICE QUANTITY EXCHANGE
GRAVITON RESEARCH CAPITAL LLP Bulk Purchase 2023-10-19 222.45 492979 NSE
GRAVITON RESEARCH CAPITAL LLP Bulk Sell 2023-10-19 222.58 492979 NSE
GRAVITON RESEARCH CAPITAL LLP Bulk Purchase 2021-08-05 278.15 268055 NSE
Name Category Shares
SACHIT JAIN PROMOTER 13.78%
S.P. OSWAL PROMOTER 0.54%
VARDHMAN TEXTILES LIMITED PROMOTER 23.84%
VARDHMAN HOLDINGS LIMITED PROMOTER 12.81%
DEVAKAR INVESTMENT & TRADING COMPANY PRIVATE LIMITED PROMOTER 5.44%
MAHAVIR SHARES TRUST (DEEPAK JAIN, TRUSTEE) PROMOTER 1.31%
VTL INVESTMENTS LIMITED PROMOTER 0.93%

OUR RESEARCH VIEW

Investment recommendation
On track to achieve export share target by FY25…
Call Date
17 Mar 2023
Entry Price 367.00
Target Price 425.00
Duration
12-18 Month

FINANCIALS

Sales
Operating Profit
Profit after Tax
Equity
Reserves and Surplus
Debt
Sales
Operating Profit
Profit after Tax
PE
Debt/Equity
P BV

Vardhman Special Steels Ltd Stocks COMPARISON

Financials( in Cr) Vardhman Special Steels Ltd JSW Steel Ltd Tata Steel Ltd Jindal Steel & Power Ltd Tube Investments of India Ltd
Price 316.70 907.45 167.35 1,015.50 3,804.85
% Change 3.33 4.19 1.06 2.21 0.48
Mcap Cr 2,579.84 221,912.72 208,911.91 103,589.94 73,586.56
Revenue TTM Cr 1,734.99 165,960.00 243,352.69 53,211.52 14,964.73
Net Profit TTM Cr 100.45 4,139.00 8,075.35 3,974.09 1,325.06
PE TTM 28.05 20.14 85.23 17.46 110.57
1 Year Return 53.96 31.12 59.08 93.85 41.46
ROCE 20.15 8.60 12.10 14.17 33.06
ROE 16.78 6.22 7.48 13.27 37.40
INSIDER & INSTITUTIONAL ACTIVITY

Equity Capital: 642.22 Cr FV: 10.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 45,096.27 -32,431.93
LAST 3M 105,135.14 -41,239.38
LAST 6M 172,248.08 48,806.90
LAST 12M 264,707.07 127,969.33

Vardhman Special Steels Ltd Information

Stock PE (TTM)
28.05
Promoter Holding
60.56%
Book Value
88.3073
ROCE
20.15%
ROE
16.78%
Description
  • 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.

No Data Found

AGM Date (Month) : Sep
Face Value Equity Shares : 10
Market Lot Equity Shares : 1
BSE Code : 534392
NSE Code : VSSL
Book Closure Date (Month) : Sep
BSE Group : B
ISIN : INE050M01012

FAQ’s on Vardhman Special Steels Ltd Shares

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 May 17, 2024 03:59 PM the closing price of Vardhman Special Steels Ltd was Rs.316.70.

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 May 17, 2024 03:59 PM, the market cap of Vardhman Special Steels Ltd stood at Rs. 2,579.84.

The latest PE ratio of Vardhman Special Steels Ltd as of May 17, 2024 03:59 PM is 28.05

The latest PB ratio of Vardhman Special Steels Ltd as of May 17, 2024 03:59 PM is 0.28

The 52-week high of Vardhman Special Steels Ltd share price is Rs. 329.00 while the 52-week low is Rs. 174.80

According to analyst recommendations, Vardhman Special Steels Ltd Share has a "Buy" rating for the long term.

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