Vardhman Special Steels Ltd
NSE:VSSL
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Vardhman Special Steels Ltd
Vardhman Special Steels Ltd. engages in the manufacture and distribution of steel bars, rods, bright bars of special and alloy steels. The company is headquartered in Ludhiana, Punjab. The company went IPO on 2012-05-17. The firm offers products, such as round bar, round corner, peeled and centerless ground bar, drawn and centerless ground bar. The firm also offers Carbon Steel, Carbon Manganese Steel, Case Hardening Steel, Chrome Steel, Chrome Manganese Steel, Chrome-Moly Steel, Nickel Chrome / Nickel Chrome Moly Steel, Through Hardening Steel, Boron Steel, Micro Alloyed Steel, Vanadium Steel, Nitriding Steel, Ball Bearing Steel, Free/Semi Free Cutting Steel, Spring Steel and High Titanium Steel. The firm offers its products in various diameters. The firm provides hot rolled bars for engineering, automotive, tractor, bearing and allied industries. The firm manufactures products using technologies, such as Steel Melting, Bright Bar, Rolling Mill and Heat Treatment.
Vardhman Special Steels Ltd. engages in the manufacture and distribution of steel bars, rods, bright bars of special and alloy steels. The company is headquartered in Ludhiana, Punjab. The company went IPO on 2012-05-17. The firm offers products, such as round bar, round corner, peeled and centerless ground bar, drawn and centerless ground bar. The firm also offers Carbon Steel, Carbon Manganese Steel, Case Hardening Steel, Chrome Steel, Chrome Manganese Steel, Chrome-Moly Steel, Nickel Chrome / Nickel Chrome Moly Steel, Through Hardening Steel, Boron Steel, Micro Alloyed Steel, Vanadium Steel, Nitriding Steel, Ball Bearing Steel, Free/Semi Free Cutting Steel, Spring Steel and High Titanium Steel. The firm offers its products in various diameters. The firm provides hot rolled bars for engineering, automotive, tractor, bearing and allied industries. The firm manufactures products using technologies, such as Steel Melting, Bright Bar, Rolling Mill and Heat Treatment.
Volume Growth: Q3 sales volumes rose to 55,000 tonnes compared to 52,600 tonnes last year, with strong demand despite lower pricing.
Profitability: EBITDA for the quarter increased 34% year-on-year to INR 56 crores; 9M PAT reached an all-time high of INR 88 crores.
CapEx Expansion: Major projects include a new INR 475 crore forging plant (targeting July 2028 commissioning) and a new steel plant (planned for July 2029), expected to significantly increase capacity and product range.
EBITDA Guidance Raised: Sustainable EBITDA per tonne guidance increased to INR 8,000–11,000 for next year, up from INR 7,000–10,000 this year, driven by operational improvements.
Product Diversification: Plans are underway to enter non-automotive special steels (currently near 0% of business), aiming for 30% of revenues over 10 years.
Operational Efficiencies: New reheating furnace and Kocks Block upgrades are on track to improve yield, quality, and reduce working capital.
Supportive Shareholders: Both Aichi Steel and Vardhman Group have pledged ongoing financial support for growth initiatives.
