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Vardhman Special Steels Limited VSSL NSEINFRA

Basic Materials · Steel · India
https://www.vardhmansteel.com
Company Profile ↓
₹356.15
+42.24% 1Y
Mkt Cap₹3,443.46 Cr
P/E24.02
P/B2.96
Div. Yield0.93%
52W High₹413.60
52W Low₹206.36
Book Value₹126.18
EPS (TTM)₹14.83

Company Overview

Vardhman Special Steels Limited engages in the manufacture and sale of billets, steel bars, and bright bars of various categories of special and alloy steels in India and internationally. Its customers include passenger vehicles, two wheelers, commercial vehicles, tractors, off-highway vehicles,and railways, as well as engineering, bearing, and allied industries. The company was founded in 1973 and is headquartered in Ludhiana, India.

Why Investors Should Care

Conservative Balance Sheet

Carries low leverage with a debt-to-equity ratio of 0.07.

Recent Developments

  • Mar 2026 Revenue of ₹1,754.43 Cr (-0.6% YoY); net profit ₹122.02 Cr.
  • Trailing 12 Months Year-on-year growth — revenue +12.1%, earnings +74.9%.
  • 5-Year Trend Long-term compounding — revenue CAGR 0.6%, profit CAGR 6.7%.

Growth & Price Performance

Compounded Sales Growth

5 Years:0.65%
1 Year:12.10%

Compounded Profit Growth

5 Years:6.70%
1 Year:74.90%

Stock Price Performance

1 Year:+42.24%
6 Months:+34.74%
3 Months:+18.58%
1 Month:-12.00%

Highlights auto-generated from reported financials and price data; not investment advice. Verify with official filings before acting.

Technical Snapshot Mixed
52-Week Range 72% of range
₹206.36 ₹413.60
Trend Signals
  • Price vs 50-DMABelow
  • Price vs 200-DMAAbove
  • RSI (14)38.51 · Neutral
Price Performance
1M-12.00%
3M+18.58%
6M+34.74%
1Y+42.24%
Valuation vs Sector

P/E of 24.02 is above the sector median of 21.09 — pricier than peers.

Auto-generated from price history and fundamentals; not investment advice.

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Price Chart

NSE TradingView

Fundamental Growth Charts

Interactive charts for Revenue, Net Income, EBITDA, Free Cash Flow, EPS, ROE, ROCE, Gross/Net/Operating Margin and more — switch metric and period using the dropdowns above. CAGR is computed across the displayed window (quarterly CAGR is annualised). Visual growth charts make it easy to spot multi-year compounding trends at a glance — far faster than reading raw numbers in a table.

PROS

  • In a confirmed uptrend (50-DMA above 200-DMA).

CONS

No notable concerns flagged.

* The pros and cons are auto-generated from financial metrics.

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Valuation

Stock P/E
24.02
Industry PE
21.09
Forward P/E
15.97
PEG Ratio
-
Book Value
₹126.18
Price to Book
2.96
P/S
2.00
EV/EBITDA
14.83
Dividend Yield
0.93%

Growth (CAGR)

Revenue 5Y
0.65%
Profit 5Y
6.70%
Revenue (YoY)
12.10%
Earnings (YoY)
74.90%

Profitability & Returns

ROCE
13.50%
ROE
9.55%
ROA
7.47%
Profit Margin
7.93%
Op Margin
12.08%
Gross Margin
31.26%
EPS (Latest Qtr)
₹4.25
EPS (TTM)
₹14.83

Balance Sheet & Liquidity

Debt/Equity
0.07
Quick Ratio
1.83
Current Ratio
2.90
Debt
₹93.01 Cr
Total Assets
₹1,633.12 Cr
Current Assets
₹955.38 Cr
Working Capital
₹625.45 Cr

Ownership

Promoter Holding
77.90%
Chg in Prom Hold
-0.06%
FII / Inst Holding
4.04%
Chg in FII Hold
-0.00%

Financial Snapshot

Enterprise Value
₹3,443.46 Cr
Total Revenue (TTM)
₹1,806.74 Cr
EBITDA
₹237.10 Cr
Free Cash Flow
₹-136.74 Cr
Operating Cash Flow
₹105.88 Cr
Shares Outstanding
₹9.67 Cr
Gross Margin
31.26%
Payout Ratio
20.23%

Peer comparison

Peer companies in the same sector (Basic Materials).

#NameCMP ₹P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 VSSL Vardhman Special Steels Limited NSEINFRA 356.15 24.02 ₹3,443.46 Cr 0.93% 13.50% 9.55% 0.65% 6.70%
2 ULTRACEMCO UltraTech Cement Limited NIFTY50NSEINFRA 10,849.00 37.39 ₹3.19 L Cr 2.25% 11.84% 10.66% 11.92% 17.26%
3 JSWSTEEL JSW Steel Limited NIFTY50NSEAIINFRA 1,222.90 12.07 ₹2.99 L Cr 0.58% 18.75% 22.30% 3.61% 75.28%
4 ASIANPAINT Asian Paints Limited NIFTY50NSEINFRA 2,319.40 46.14 ₹2.22 L Cr 1.19% 24.41% 20.24% 1.10% 1.75%
5 HINDZINC Hindustan Zinc Limited NSEINFRA 525.00 13.00 ₹2.22 L Cr 2.07% 61.97% 61.13% 5.61% 9.58%
6 TATASTEEL Tata Steel Limited NIFTY50NSEAIINFRA 172.45 19.49 ₹2.15 L Cr 2.33% 11.32% 10.56% -1.59% 7.21%
7 HINDALCO Hindalco Industries Limited NIFTY50NSEAIINFRA 892.85 12.11 ₹1.98 L Cr 0.56% 9.42% 9.80% 7.10% 9.87%
8 GRASIM Grasim Industries Limited NIFTY50NSEINFRA 2,889.10 34.46 ₹1.96 L Cr 0.35% 3.98% 4.80% 14.30% -10.06%
9 SOLARINDS Solar Industries India Limited NSEINFRA 19,259.00 87.52 ₹1.74 L Cr 0.06% 29.51% 26.72% 12.39% 30.36%
Financial Statements Quarterly Results · Profit & Loss · Balance Sheet · Cash Flows · Ratios

Quarterly Results

Figures in INR.

Metric Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue 409.00 Cr415.00 Cr397.00 Cr439.00 Cr415.00 Cr495.00 Cr426.77 Cr428.04 Cr433.70 Cr-430.54 Cr457.92 Cr486.01 Cr
Cost of Revenue --------270.15 Cr248.83 Cr247.25 Cr269.83 Cr278.34 Cr
Gross Profit --------163.55 Cr183.44 Cr183.30 Cr188.08 Cr207.67 Cr
Operating Expenses 380.00 Cr384.00 Cr364.00 Cr391.00 Cr372.00 Cr456.00 Cr--140.71 Cr146.26 Cr147.99 Cr149.79 Cr158.81 Cr
Operating Income 22.00 Cr24.00 Cr26.00 Cr40.00 Cr34.00 Cr31.00 Cr26.60 Cr23.14 Cr22.84 Cr-35.30 Cr38.29 Cr48.86 Cr
EBITDA 29.00 Cr31.00 Cr33.00 Cr49.00 Cr42.00 Cr39.00 Cr42.05 Cr38.62 Cr39.33 Cr-56.47 Cr56.54 Cr68.29 Cr
Interest Expense 4.00 Cr5.00 Cr5.00 Cr5.00 Cr5.00 Cr5.00 Cr5.09 Cr3.47 Cr3.56 Cr-3.69 Cr2.76 Cr3.31 Cr
Pretax Income 25.00 Cr25.00 Cr29.00 Cr44.00 Cr35.00 Cr35.00 Cr28.47 Cr26.85 Cr26.77 Cr-44.79 Cr45.99 Cr55.40 Cr
Tax Provision 6.50 Cr6.50 Cr7.25 Cr11.00 Cr9.10 Cr9.10 Cr7.01 Cr7.12 Cr6.87 Cr-11.21 Cr12.01 Cr14.21 Cr
Net Income 19.00 Cr18.00 Cr22.00 Cr33.00 Cr26.00 Cr26.00 Cr21.46 Cr19.73 Cr19.90 Cr-33.59 Cr33.98 Cr41.19 Cr
Diluted EPS 2.292.272.684.033.203.172.622.412.43-3.473.514.25

Profit & Loss (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue -1,720.81 Cr1,661.36 Cr1,764.41 Cr1,754.43 Cr
Cost of Revenue -1,413.33 Cr1,312.84 Cr1,082.93 Cr1,036.06 Cr
Gross Profit -307.47 Cr649.73 Cr681.48 Cr718.38 Cr
Operating Expenses -162.02 Cr199.77 Cr566.90 Cr584.77 Cr
Operating Income -145.46 Cr136.14 Cr114.57 Cr133.61 Cr
EBITDA -178.96 Cr172.26 Cr177.16 Cr208.82 Cr
Interest Expense -16.53 Cr18.42 Cr18.63 Cr11.91 Cr
Pretax Income -134.31 Cr122.86 Cr125.06 Cr164.05 Cr
Tax Provision -33.86 Cr31.23 Cr31.97 Cr42.03 Cr
Net Income -100.45 Cr91.63 Cr93.09 Cr122.02 Cr
Diluted EPS -12.3111.1811.3713.13

Balance Sheet (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets -1,030.52 Cr1,039.67 Cr1,135.92 Cr1,633.12 Cr
Current Assets -698.63 Cr674.28 Cr661.15 Cr955.38 Cr
Cash & Equivalents -9.54 Cr7.64 Cr10.76 Cr6.27 Cr
Inventory -362.68 Cr356.17 Cr334.97 Cr350.24 Cr
Receivables -261.55 Cr262.17 Cr261.30 Cr277.84 Cr
Total Liabilities -388.30 Cr320.31 Cr338.00 Cr355.80 Cr
Current Liabilities -320.85 Cr283.22 Cr313.22 Cr329.93 Cr
Long Term Debt -44.03 Cr14.10 Cr3.30 Cr0
Total Debt -143.85 Cr83.71 Cr120.30 Cr93.01 Cr
Total Equity -642.21 Cr719.35 Cr797.92 Cr1,277.32 Cr
Shares Outstanding -8.13 Cr8.15 Cr8.17 Cr9.67 Cr

Cash Flows (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow -73.58 Cr142.41 Cr126.91 Cr105.88 Cr
Investing Cash Flow --14.83 Cr-50.14 Cr-126.83 Cr-427.23 Cr
Financing Cash Flow --49.48 Cr-94.16 Cr3.03 Cr316.87 Cr
Capital Expenditure --28.79 Cr-67.96 Cr-118.83 Cr-242.62 Cr
Free Cash Flow -44.79 Cr74.44 Cr8.08 Cr-136.74 Cr
Net Change in Cash -9.26 Cr-1.89 Cr3.12 Cr-4.49 Cr

Ratios (Annual)

Figures in %.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Gross Margin % -17.9%39.1%38.6%40.9%
Operating Margin % -8.5%8.2%6.5%7.6%
Net Margin % -5.8%5.5%5.3%7.0%
ROE % -15.6%12.7%11.7%9.6%
ROCE % -20.5%18.0%13.9%10.3%

Shareholding Pattern

Insiders
77.90%
Institutions
4.04%
Public Float
18.31%

Analyst View

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Latest News

Recent headlines for VSSL

Google News Mon, 14 Sep 2026

Do Vardhman Special Steels' (NSE:VSSL) Earnings Warrant Your Attention? - Simply Wall Street

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Google News Mon, 27 Jul 2026

Vardhman Special Steels lays foundation for ₹1,116 crore forging unit - scanx.trade

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Google News Fri, 21 Jul 2017

VSSL Stock Price and Chart — NSE:VSSL - TradingView

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Google News ue, 06 Oct 2026

Vardhman Special Steels (VSSL.NS) Trades at ₹389.75, Up 0.95% as Support Holds Firm - Zero Lag EMA - https://www.siam.in/

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Google News Wed, 02 Aug 2017

Vardhman Special Steels Limited (VSSL.NS) Stock Price, News, Quote & History - Yahoo! Finance Canada

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Google News Wed, 09 Sep 2026

Vardhman Special Steels (NSE:VSSL): What Does Its August 2026 Share Demat Filing Reveal? - Kalkine India

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VSSL — Frequently Asked Questions

What is the current share price of Vardhman Special Steels Limited (VSSL)?

As of 2026-10-23 04:58 IST, Vardhman Special Steels Limited (VSSL) trades at ₹356.15 on NSE. Its 52-week range is ₹206.36 to ₹413.60.

What is the market capitalisation of VSSL?

Vardhman Special Steels Limited (VSSL) has a market capitalisation of ₹3,443.46 Cr on NSE.

What is the P/E ratio of VSSL?

VSSL trades at a trailing price-to-earnings (P/E) ratio of 24.02. The industry average P/E is 21.09. Its price-to-book (P/B) ratio is 2.96.

Does VSSL pay a dividend?

Vardhman Special Steels Limited (VSSL) currently offers a dividend yield of 0.93%.

What is the return on equity (ROE) of VSSL?

VSSL has a return on equity (ROE) of 9.55%. Its return on capital employed (ROCE) is 13.50%.

Is VSSL a good stock to buy?

This page provides a data-driven analysis of Vardhman Special Steels Limited (VSSL), including valuation ratios, profitability, growth trends, auto-generated pros and cons, peer comparison and AI exposure. Review these fundamentals alongside your own research and risk tolerance. This is informational content, not investment advice.

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