Vardhman Special Steels Ltd
NSE:VSSL
Income Statement
Earnings Waterfall
Vardhman Special Steels Ltd
Revenue
|
16.4B
INR
|
Cost of Revenue
|
-10.3B
INR
|
Gross Profit
|
6.1B
INR
|
Operating Expenses
|
-5.2B
INR
|
Operating Income
|
889.9m
INR
|
Other Expenses
|
-164.8m
INR
|
Net Income
|
725.1m
INR
|
Income Statement
Vardhman Special Steels Ltd
Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
5 382
N/A
|
5 685
+6%
|
5 906
+4%
|
6 072
+3%
|
6 259
+3%
|
6 616
+6%
|
6 994
+6%
|
7 189
+3%
|
7 270
+1%
|
7 255
0%
|
7 210
-1%
|
7 264
+1%
|
7 349
+1%
|
7 531
+2%
|
7 955
+6%
|
8 109
+2%
|
8 368
+3%
|
8 779
+5%
|
9 263
+6%
|
10 148
+10%
|
11 089
+9%
|
11 208
+1%
|
10 920
-3%
|
10 084
-8%
|
8 838
-12%
|
8 462
-4%
|
6 733
-20%
|
7 086
+5%
|
8 083
+14%
|
9 371
+16%
|
11 994
+28%
|
12 879
+7%
|
13 596
+6%
|
13 685
+1%
|
15 075
+10%
|
16 150
+7%
|
16 563
+3%
|
17 350
+5%
|
16 752
-3%
|
16 472
-2%
|
16 440
0%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(3 442)
|
(3 765)
|
(3 960)
|
(3 973)
|
(3 863)
|
(4 073)
|
(4 231)
|
(4 261)
|
(4 184)
|
(4 278)
|
(4 058)
|
(4 053)
|
(4 158)
|
(4 319)
|
(4 700)
|
(4 724)
|
(4 724)
|
(4 886)
|
(5 112)
|
(5 799)
|
(6 583)
|
(7 987)
|
(6 841)
|
(6 666)
|
(6 023)
|
(5 988)
|
(4 648)
|
(4 643)
|
(5 045)
|
(5 820)
|
(7 159)
|
(7 390)
|
(7 945)
|
(8 810)
|
(9 253)
|
(10 223)
|
(10 391)
|
(12 268)
|
(10 519)
|
(10 294)
|
(10 306)
|
|
Gross Profit |
1 940
N/A
|
1 920
-1%
|
1 947
+1%
|
2 100
+8%
|
2 396
+14%
|
2 543
+6%
|
2 764
+9%
|
2 928
+6%
|
3 086
+5%
|
2 977
-4%
|
3 152
+6%
|
3 211
+2%
|
3 192
-1%
|
3 212
+1%
|
3 256
+1%
|
3 385
+4%
|
3 644
+8%
|
3 893
+7%
|
4 152
+7%
|
4 349
+5%
|
4 506
+4%
|
3 221
-29%
|
4 080
+27%
|
3 417
-16%
|
2 815
-18%
|
2 474
-12%
|
2 085
-16%
|
2 443
+17%
|
3 038
+24%
|
3 551
+17%
|
4 835
+36%
|
5 490
+14%
|
5 651
+3%
|
4 874
-14%
|
5 821
+19%
|
5 927
+2%
|
6 172
+4%
|
5 081
-18%
|
6 233
+23%
|
6 178
-1%
|
6 134
-1%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(1 932)
|
(1 973)
|
(1 975)
|
(2 104)
|
(2 406)
|
(2 566)
|
(2 764)
|
(2 858)
|
(2 912)
|
(2 720)
|
(2 818)
|
(2 800)
|
(2 771)
|
(2 787)
|
(2 876)
|
(3 033)
|
(3 260)
|
(3 489)
|
(3 692)
|
(3 893)
|
(4 024)
|
(2 754)
|
(3 691)
|
(3 159)
|
(2 722)
|
(2 328)
|
(2 199)
|
(2 376)
|
(2 637)
|
(2 748)
|
(3 498)
|
(3 905)
|
(4 073)
|
(3 395)
|
(4 411)
|
(4 629)
|
(4 902)
|
(3 949)
|
(5 269)
|
(5 254)
|
(5 244)
|
|
Selling, General & Administrative |
(875)
|
(960)
|
(1 050)
|
(1 171)
|
(1 310)
|
(1 374)
|
(1 366)
|
(1 393)
|
(1 428)
|
(2 550)
|
(1 471)
|
(1 480)
|
(1 447)
|
(2 606)
|
(1 537)
|
(1 639)
|
(1 754)
|
(3 273)
|
(1 791)
|
(1 811)
|
(1 795)
|
(2 431)
|
(1 779)
|
(1 550)
|
(1 488)
|
(1 996)
|
(991)
|
(1 205)
|
(1 362)
|
(2 402)
|
(2 086)
|
(2 195)
|
(2 184)
|
(3 097)
|
(2 315)
|
(2 414)
|
(2 560)
|
(3 633)
|
(2 269)
|
(2 238)
|
(2 199)
|
|
Depreciation & Amortization |
(40)
|
(57)
|
(81)
|
(107)
|
(129)
|
(139)
|
(147)
|
(152)
|
(163)
|
(170)
|
(173)
|
(177)
|
(179)
|
(181)
|
(182)
|
(186)
|
(197)
|
(215)
|
(225)
|
(237)
|
(242)
|
(239)
|
(244)
|
(247)
|
(253)
|
(257)
|
(263)
|
(268)
|
(268)
|
(302)
|
(302)
|
(301)
|
(301)
|
(270)
|
(273)
|
(276)
|
(279)
|
(281)
|
(285)
|
(287)
|
(291)
|
|
Other Operating Expenses |
(1 017)
|
(956)
|
(845)
|
(827)
|
(966)
|
(1 054)
|
(1 251)
|
(1 313)
|
(1 321)
|
0
|
(1 173)
|
(1 143)
|
(1 144)
|
0
|
(1 157)
|
(1 208)
|
(1 309)
|
0
|
(1 676)
|
(1 846)
|
(1 988)
|
(84)
|
(1 668)
|
(1 361)
|
(981)
|
(74)
|
(945)
|
(904)
|
(1 006)
|
(43)
|
(1 110)
|
(1 409)
|
(1 588)
|
(28)
|
(1 823)
|
(1 939)
|
(2 064)
|
(35)
|
(2 715)
|
(2 729)
|
(2 755)
|
|
Operating Income |
8
N/A
|
(53)
N/A
|
(29)
+46%
|
(5)
+84%
|
(10)
-107%
|
(23)
-142%
|
(1)
+98%
|
70
N/A
|
174
+148%
|
257
+47%
|
334
+30%
|
411
+23%
|
421
+3%
|
425
+1%
|
379
-11%
|
352
-7%
|
384
+9%
|
404
+5%
|
459
+14%
|
456
-1%
|
482
+6%
|
467
-3%
|
389
-17%
|
259
-34%
|
93
-64%
|
146
+57%
|
(114)
N/A
|
66
N/A
|
401
+506%
|
803
+100%
|
1 337
+67%
|
1 585
+19%
|
1 578
0%
|
1 480
-6%
|
1 411
-5%
|
1 298
-8%
|
1 270
-2%
|
1 133
-11%
|
964
-15%
|
924
-4%
|
890
-4%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
(115)
|
(119)
|
(129)
|
(149)
|
(180)
|
(190)
|
(222)
|
(226)
|
(231)
|
(218)
|
(240)
|
(256)
|
(264)
|
(274)
|
(275)
|
(259)
|
(238)
|
(201)
|
(206)
|
(211)
|
(230)
|
(229)
|
(269)
|
(278)
|
(272)
|
(222)
|
(228)
|
(210)
|
(200)
|
(125)
|
(181)
|
(166)
|
(162)
|
(105)
|
(157)
|
(168)
|
(169)
|
(110)
|
(178)
|
(180)
|
(183)
|
|
Non-Reccuring Items |
(117)
|
(72)
|
(13)
|
14
|
(7)
|
0
|
(15)
|
12
|
33
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(10)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(12)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Gain/Loss on Disposition of Assets |
0
|
0
|
0
|
0
|
0
|
1
|
0
|
0
|
0
|
(11)
|
0
|
0
|
0
|
(8)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
2
|
0
|
0
|
0
|
7
|
0
|
0
|
0
|
(36)
|
0
|
0
|
0
|
(2)
|
0
|
0
|
0
|
(0)
|
0
|
0
|
0
|
|
Total Other Income |
112
|
113
|
22
|
26
|
61
|
61
|
75
|
78
|
28
|
14
|
29
|
29
|
32
|
48
|
68
|
74
|
79
|
48
|
64
|
63
|
57
|
(8)
|
28
|
70
|
85
|
45
|
105
|
107
|
120
|
34
|
130
|
89
|
77
|
210
|
310
|
436
|
551
|
320
|
401
|
315
|
263
|
|
Pre-Tax Income |
(112)
N/A
|
(132)
-18%
|
(149)
-13%
|
(114)
+24%
|
(136)
-19%
|
(151)
-11%
|
(163)
-8%
|
(67)
+59%
|
5
N/A
|
42
+833%
|
124
+194%
|
184
+49%
|
189
+3%
|
191
+1%
|
173
-10%
|
167
-3%
|
225
+35%
|
251
+11%
|
317
+26%
|
308
-3%
|
309
+0%
|
221
-29%
|
149
-33%
|
50
-66%
|
(95)
N/A
|
(23)
+76%
|
(236)
-928%
|
(37)
+84%
|
321
N/A
|
664
+107%
|
1 286
+94%
|
1 508
+17%
|
1 493
-1%
|
1 583
+6%
|
1 563
-1%
|
1 566
+0%
|
1 652
+6%
|
1 343
-19%
|
1 187
-12%
|
1 059
-11%
|
970
-8%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
13
|
38
|
35
|
11
|
9
|
0
|
(0)
|
(0)
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(1)
|
(1)
|
21
|
(14)
|
1
|
(6)
|
(10)
|
41
|
57
|
81
|
3
|
(107)
|
(222)
|
(438)
|
(507)
|
(514)
|
(576)
|
(530)
|
(496)
|
(493)
|
(339)
|
(300)
|
(267)
|
(245)
|
|
Income from Continuing Operations |
(99)
|
(94)
|
(115)
|
(103)
|
(127)
|
(151)
|
(163)
|
(67)
|
4
|
42
|
124
|
184
|
189
|
191
|
173
|
167
|
226
|
250
|
317
|
329
|
296
|
222
|
143
|
40
|
(53)
|
33
|
(155)
|
(34)
|
214
|
442
|
848
|
1 001
|
979
|
1 008
|
1 033
|
1 070
|
1 160
|
1 004
|
887
|
792
|
725
|
|
Net Income (Common) |
(99)
N/A
|
(94)
+5%
|
(115)
-22%
|
(103)
+10%
|
(127)
-23%
|
(151)
-19%
|
(163)
-8%
|
(67)
+59%
|
4
N/A
|
42
+855%
|
124
+194%
|
184
+49%
|
189
+3%
|
191
+1%
|
173
-10%
|
167
-3%
|
226
+35%
|
250
+11%
|
317
+27%
|
329
+4%
|
296
-10%
|
222
-25%
|
143
-36%
|
40
-72%
|
(4)
N/A
|
33
N/A
|
(106)
N/A
|
15
N/A
|
214
+1 298%
|
442
+107%
|
848
+92%
|
1 001
+18%
|
979
-2%
|
1 008
+3%
|
1 033
+2%
|
1 070
+4%
|
1 160
+8%
|
1 004
-13%
|
887
-12%
|
792
-11%
|
725
-8%
|
|
EPS (Diluted) |
-1.94
N/A
|
-1.84
+5%
|
-2.25
-22%
|
-2.02
+10%
|
-2.48
-23%
|
-2.96
-19%
|
-3.18
-7%
|
-1.3
+59%
|
0.09
N/A
|
0.83
+822%
|
2.41
+190%
|
3.58
+49%
|
3.68
+3%
|
3.75
+2%
|
3.34
-11%
|
2.6
-22%
|
3.51
+35%
|
3.9
+11%
|
4.42
+13%
|
4.58
+4%
|
4.14
-10%
|
3.1
-25%
|
2
-35%
|
0.57
-72%
|
-0.05
N/A
|
0.44
N/A
|
-1.3
N/A
|
0.18
N/A
|
2.64
+1 367%
|
5.46
+107%
|
10.4
+90%
|
12.23
+18%
|
12
-2%
|
12.29
+2%
|
12.63
+3%
|
13.09
+4%
|
14.22
+9%
|
12.29
-14%
|
10.89
-11%
|
9.73
-11%
|
8.9
-9%
|