Vardhman Special Steels Limited

BSE: 534392 NSE: VSSL
Vardhman Special Steels Limited - metals and minerals in Ludhiana, Punjab, India. FY 2026 financials and compliance.
CIN L27100PB2010PLC033930 Incorporated 14 May 2010 ROC Chandigarh HQ Ludhiana, Punjab, India
Active Listed - NSE: VSSL · BSE: 534392 Public Limited Company metals and minerals
Data last updated
Revenue · FY 2026
₹1,754.43 Cr
▼ 0.57% YoY
EBITDA · FY 2026
₹208.82 Cr
▲ 17.87% YoY
Net profit · FY 2026
₹122.02 Cr
▲ 31.08% YoY
Authorised capital
₹100 Cr
Registered with MCA
Paid-up capital
₹96.69 Cr
Issued & subscribed
Open charges
₹500 Cr
Satisfied ₹443.75 Cr
Company age
16 yrs
Est. 2010
Employees · EPFO
1,517
Latest available

About Vardhman Special Steels Limited

Data last updated: 02 February 2026

Vardhman Special Steels Limited is a public limited company based in Ludhiana, Punjab, India. It specialises in steel manufacturing and processing, a part of the broader metals and mining sector. Incorporated on 14 May 2010, the company has been in operation for over 16 years.

Registered with ROC Chandigarh under CIN L27100PB2010PLC033930. Listed on BSE: 534392 and NSE: VSSL.

Capital: an authorised share capital of ₹100 Cr and a paid-up capital of ₹96.69 Cr. It is led by directors including Nishant Arya and Rajinder Kumar Jain.

Last AGM: 24 September 2025. Financial statements filed for year ended 31 March 2025. Office: Vardhman Premises Chandigarh Road, Ludhiana, Punjab, India – 141010.

As per the financials filed for FY 2025, the company reported a revenue of ₹1,793.52 Cr, a growth of 6% compared to the previous year.

The company has a workforce of approximately 1,517 employees as per the latest available data.

The company is associated with 1 brand - Vardhman Steel. As per MCA filings, the company has open charges of ₹500 Cr and satisfied charges of ₹443.75 Cr on record.

The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website vardhmansteel.com.

Company Details of Vardhman Special Steels Limited
CIN L27100PB2010PLC033930
Registration Number 033930
Incorporation Date 14 May 2010
ROC Chandigarh
Listing Status Listed (BSE: 534392, NSE: VSSL)
Company Status Active
Date of Last AGM 24 September 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant
Key People
Sachit Jain Managing Director Soumya Jain Whole-Time Director Rajendar Kumar Rewari Whole-Time Director
Contact Details
  • Email
    *****@*****.com
  • Telephone
    +91-****-******
  • Website
    vardhmansteel.com
  • Social Media
  • Registered Address
    Vardhman Premises Chandigarh Road, Ludhiana, Punjab, India – 141010
  • Industry
    Metals and Minerals, Steel Manufacturing & Processing
Company report
Vardhman Special Steels Limited - full intelligence report
  • Historical Financials and ratios
  • Shareholding pattern and group structure
  • Charges with holder and property details
  • Litigation, compliance and MCA filings
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Financials, compliance, directors, charges, ownership and filings for Vardhman Special Steels Limited in one report.

10-year financials Directors & ownership Charges & compliance

CIN History of Vardhman Special Steels Limited

Vardhman Special Steels Limited has one previous CIN (Corporate Identification Number): U27100PB2010PLC033930. The current CIN is L27100PB2010PLC033930, which is the unique identifier assigned by the Registrar of Companies.

CIN Status
L27100PB2010PLC033930 Current
U27100PB2010PLC033930 Previous

Associated Brands with Vardhman Special Steels Limited

Vardhman Special Steels Limited operates one associated brand: Vardhman Steel. These brands represent Vardhman Special Steels Limited's diversified market presence and brand portfolio.

Brand Description Website
Vardhman Steel
Steel products are manufactured in Ludhiana, India. vardhmansteel.com

Business Activity of Vardhman Special Steels Limited

Vardhman Special Steels Limited is engaged in the principal business activity of manufacturing, with detailed activities including metal and metal products.

Main Activity Group Code Description of Main Activity Business Activity Code Description of Business Activity Turnover Percentage
C Manufacturing C7 Metal and metal products *********

Auditor Details of Vardhman Special Steels Limited

Vardhman Special Steels Limited is audited by BSR & Co. LLP (ICAI peer reviewed, certificate valid till 2028-07-31) for the financial year 2026, as reported in its NSE exchange filings. The statutory auditor is responsible for expressing an independent opinion on whether the financial statements present a true and fair view in accordance with applicable accounting standards.

Name Financial year Audit opinion
BSR & Co. LLP (ICAI peer reviewed, certificate valid till 2028-07-31) FY 2026 Declaration of unmodified opinion

Board of Directors of Vardhman Special Steels Limited

Vardhman Special Steels Limited is currently managed by 16 directors, with 28 former directors having served the organization. The current Directors play a crucial role in shaping the company's strategic direction and governance.

Current Directors
Name Designation Appointment Date Tenure Status
Nishant Arya
Also directs: Ecotech Ventures Llp, Orior Venture Llp, Vardhman Special Steels Limited and 5 more
Director 25 Sep 2025 0 Years 9 Months Current
Rajinder Kumar Jain
Also directs: Vardhman Special Steels Limited
Director 15 Mar 2011 15 Years 3 Months Current
Soumya Jain
Also directs: Vardhman Special Steels Limited, Vardhman Textiles Limited
Whole-Time Director 02 Aug 2023 2 Years 11 Months Current
Rakesh Naginchand Jain
Also directs: Vardhman Special Steels Limited, Arjuna Advisory Services Llp, Chambal Fertilisers And Chemicals Limited
Director 27 Apr 2018 8 Years 2 Months Current
Toshio Ito
Also directs: Vardhman Special Steels Limited
Director 25 Jul 2022 3 Years 11 Months Current
Suman Chatterjee
Also directs: Vardhman Special Steels Limited
Director 25 Jul 2022 3 Years 11 Months Current
Showing 6 of 16 current directors. View all directors

Financials of Vardhman Special Steels Limited FY 2026 filings available

Vardhman Special Steels Limited reported revenue of ₹1,754.43 Cr (down 0.57% YoY) for FY 2026. Profit growth despite declining revenue indicates effective cost management and margin discipline.

Revenue · FY 2026
₹1,754.43 Cr ▼ 0.57%
Profit · FY 2026
₹122.02 Cr ▲ 31.08%
EBITDA · FY 2026
₹208.82 Cr ▲ 17.87%
Revenue₹ Cr · Standalone01,0002,000FY 2020: ₹846 Cr846FY 2020FY 2021: ₹937 Cr · +10.7% YoY937+10.7%FY 2021FY 2022: ₹1,368 Cr · +46% YoY1,368+46%FY 2022FY 2023: ₹1,735 Cr · +26.8% YoY1,735+26.8%FY 2023FY 2024: ₹1,661 Cr · -4.2% YoY1,661-4.2%FY 2024FY 2025: ₹1,764 Cr · +6.2% YoY1,764+6.2%FY 2025FY 2026: ₹1,754 Cr · -0.6% YoY1,754-0.6%FY 2026
Net Profit₹ Cr · Standalone050100150FY 2020: ₹3 Cr3.3FY 2020FY 2021: ₹44 Cr · +1223.2% YoY44.2+1223.2%FY 2021FY 2022: ₹101 Cr · +128% YoY101+128%FY 2022FY 2023: ₹100 Cr · -0.3% YoY100-0.3%FY 2023FY 2024: ₹92 Cr · -8.8% YoY91.6-8.8%FY 2024FY 2025: ₹93 Cr · +1.6% YoY93.1+1.6%FY 2025FY 2026: ₹122 Cr · +31.1% YoY122+31.1%FY 2026
Quarterly Revenue₹ Cr · vs same quarter last year0200400600Q1'25: ₹415 Cr · +1.3% YoY415+1.3%Q1'25Q2'25: ₹495 Cr · +19.2% YoY495+19.2%Q2'25Q3'25: ₹427 Cr · +7.4% YoY427+7.4%Q3'25Q4'25: ₹428 Cr · -2.6% YoY428-2.6%Q4'25Q1'26: ₹434 Cr · +4.6% YoY434+4.6%Q1'26Q2'26: ₹432 Cr · -12.6% YoY432-12.6%Q2'26Q3'26: ₹431 Cr · +0.9% YoY431+0.9%Q3'26Q4'26: ₹458 Cr · +7% YoY458+7%Q4'26
Metrics FY 2026 FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 FY 2020
Revenue from Operations ₹1,754.43 Cr ₹1,764.41 Cr ₹1,661.36 Cr ₹1,734.99 Cr ₹1,368.46 Cr ₹937.08 Cr ₹846.2 Cr
Other Income ₹42.35 Cr ₹29.11 Cr ₹29.82 Cr ₹38.75 Cr ₹28.89 Cr ₹12.96 Cr ₹9.4 Cr
Total Income ₹1,796.78 Cr ₹1,793.52 Cr ₹1,691.18 Cr ₹1,773.75 Cr ₹1,397.35 Cr ₹950.04 Cr ₹855.6 Cr
Cost of Materials Consumed ₹974.39 Cr ₹1,093.68 Cr ₹1,030.62 Cr ₹1,146.47 Cr ₹896.53 Cr ₹537.41 Cr ₹389.29 Cr
Purchases of Stock-in-Trade ₹0 ₹0 ₹1.41 Cr ₹0 ₹61.54 Lakh ₹0 ₹4.32 Cr
Changes in Inventories ₹61.66 Cr -₹10.75 Cr -₹20.41 Cr -₹37.33 Cr -₹100.32 Cr -₹12.25 Cr ₹144.39 Cr
Employee Benefit Expense ₹114.28 Cr ₹103.39 Cr ₹96.21 Cr ₹89.95 Cr ₹80.99 Cr ₹59.61 Cr ₹48.13 Cr
Finance Costs ₹11.91 Cr ₹18.63 Cr ₹18.42 Cr ₹17.65 Cr ₹17.28 Cr ₹19.71 Cr ₹25.72 Cr
Depreciation & Amortisation ₹32.87 Cr ₹33.47 Cr ₹30.98 Cr ₹28.12 Cr ₹26.96 Cr ₹30.23 Cr ₹25.72 Cr
Other Expenses ₹437.62 Cr ₹430.04 Cr ₹411.09 Cr ₹394.57 Cr ₹316.96 Cr ₹248.95 Cr ₹220.35 Cr
Total Expenses ₹1,632.73 Cr ₹1,668.46 Cr ₹1,568.33 Cr ₹1,639.44 Cr ₹1,239.02 Cr ₹883.66 Cr ₹857.91 Cr
Profit Before Exceptional Items & Tax ₹164.05 Cr ₹125.06 Cr ₹122.86 Cr ₹134.31 Cr ₹158.34 Cr ₹66.38 Cr -₹2.32 Cr
Exceptional Items ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0
Profit Before Tax ₹164.05 Cr ₹125.06 Cr ₹122.86 Cr ₹134.31 Cr ₹158.34 Cr ₹66.38 Cr -₹2.32 Cr
Total Tax Expense ₹42.03 Cr ₹31.97 Cr ₹31.23 Cr ₹33.86 Cr ₹57.59 Cr ₹22.18 Cr -₹5.66 Cr
Net Profit ₹122.02 Cr ₹93.09 Cr ₹91.63 Cr ₹100.45 Cr ₹100.75 Cr ₹44.19 Cr ₹3.34 Cr
Other Comprehensive Income ₹44.34 Lakh -₹27.79 Lakh ₹17.62 Lakh -₹27.91 Lakh ₹18.75 Lakh ₹62.7 Lakh -₹84.12 Lakh
Total Comprehensive Income ₹122.47 Cr ₹92.81 Cr ₹91.8 Cr ₹100.17 Cr ₹100.94 Cr ₹44.82 Cr ₹2.5 Cr
EBITDA (computed) ₹208.82 Cr ₹177.16 Cr ₹172.26 Cr ₹180.08 Cr ₹202.58 Cr ₹116.31 Cr ₹49.12 Cr
Basic EPS ₹13.15 ₹11.40 ₹11.26 ₹24.76 ₹24.87 ₹10.94 ₹0.89
Diluted EPS ₹13.13 ₹11.37 ₹11.19 ₹24.59 ₹24.71 ₹10.93 ₹0.89
Metrics FY 2026 FY 2025 FY 2024 FY 2023
Total Assets ₹1,633.12 Cr ₹1,135.92 Cr ₹1,039.67 Cr ₹1,030.52 Cr
Non-current Assets ₹677.73 Cr ₹474.76 Cr ₹365.39 Cr ₹331.89 Cr
Current Assets ₹955.38 Cr ₹661.15 Cr ₹674.28 Cr ₹698.63 Cr
Property, Plant & Equipment ₹585 Cr ₹308.69 Cr ₹324.66 Cr ₹293.68 Cr
Inventories ₹350.24 Cr ₹334.97 Cr ₹356.17 Cr ₹362.68 Cr
Trade Receivables ₹277.84 Cr ₹261.3 Cr ₹262.17 Cr ₹261.55 Cr
Cash & Equivalents ₹6.27 Cr ₹10.76 Cr ₹7.64 Cr ₹9.54 Cr
Equity (Net Worth) ₹1,277.32 Cr ₹797.92 Cr ₹719.35 Cr ₹642.21 Cr
Equity Share Capital ₹96.69 Cr ₹81.73 Cr ₹81.46 Cr ₹40.63 Cr
Borrowings (Non-current) ₹0 ₹3.3 Cr ₹14.1 Cr ₹44.03 Cr
Borrowings (Current) ₹92.65 Cr ₹116.43 Cr ₹68.84 Cr ₹98.9 Cr
Total Debt (computed) ₹92.65 Cr ₹119.73 Cr ₹82.94 Cr ₹142.92 Cr
Current Liabilities ₹329.93 Cr ₹313.22 Cr ₹283.22 Cr ₹320.85 Cr
Total Liabilities ₹355.8 Cr ₹338 Cr ₹320.31 Cr ₹388.3 Cr
The balance sheet became part of the exchange results-filing format in FY2023 - earlier years were not filed and are hidden.
Metrics FY 2026 FY 2025 FY 2024 FY 2023 FY 2022
Operating Cash Flow ₹105.88 Cr ₹126.91 Cr ₹142.41 Cr ₹73.58 Cr ₹58.88 Cr
Investing Cash Flow -₹427.23 Cr -₹126.83 Cr -₹50.14 Cr -₹14.83 Cr -₹9.11 Cr
Financing Cash Flow ₹316.87 Cr ₹3.03 Cr -₹94.16 Cr -₹49.48 Cr -₹51.84 Cr
Capital Expenditure ₹242.62 Cr ₹118.83 Cr ₹67.96 Cr ₹28.79 Cr ₹35.3 Cr
Free Cash Flow (computed) -₹136.74 Cr ₹8.08 Cr ₹74.44 Cr ₹44.79 Cr ₹23.58 Cr
Dividends Paid ₹28.88 Cr ₹16.24 Cr ₹16.21 Cr ₹14.15 Cr ₹6.05 Cr
Net Change in Cash -₹4.49 Cr ₹3.12 Cr -₹1.89 Cr ₹9.26 Cr -₹2.07 Cr
The cash-flow statement became part of the exchange results-filing format in FY2022 - earlier years were not filed and are hidden.
Metrics Q4 FY26 Q3 FY26 Q2 FY26 Q1 FY26 Q4 FY25 Q3 FY25 Q2 FY25 Q1 FY25 Q4 FY24 Q3 FY24 Q2 FY24 Q1 FY24
Revenue from Operations ₹457.92 Cr ₹430.54 Cr ₹432.27 Cr ₹433.7 Cr ₹428.04 Cr ₹426.77 Cr ₹494.82 Cr ₹414.78 Cr ₹439.41 Cr ₹397.4 Cr ₹415.19 Cr ₹409.36 Cr
Other Income ₹10.46 Cr ₹13.17 Cr ₹11.22 Cr ₹7.5 Cr ₹7.18 Cr ₹6.97 Cr ₹9.29 Cr ₹5.67 Cr ₹8.71 Cr ₹8.25 Cr ₹5.62 Cr ₹7.24 Cr
Total Income ₹468.37 Cr ₹443.72 Cr ₹443.49 Cr ₹441.2 Cr ₹435.22 Cr ₹433.74 Cr ₹504.11 Cr ₹420.45 Cr ₹448.12 Cr ₹405.65 Cr ₹420.81 Cr ₹416.6 Cr
Cost of Materials Consumed ₹241.37 Cr ₹243.41 Cr ₹260.73 Cr ₹228.88 Cr ₹220.4 Cr ₹305.26 Cr ₹265.62 Cr ₹302.4 Cr ₹277.29 Cr ₹234.36 Cr ₹247.53 Cr ₹271.45 Cr
Purchases of Stock-in-Trade ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹23,000 -₹1.15 Cr ₹2.56 Cr ₹0
Changes in Inventories ₹28.46 Cr ₹3.83 Cr -₹11.9 Cr ₹41.27 Cr ₹49.43 Cr -₹53.87 Cr ₹56.43 Cr -₹62.74 Cr -₹22.59 Cr ₹8.92 Cr ₹11.61 Cr -₹18.35 Cr
Employee Benefit Expense ₹29.74 Cr ₹29.19 Cr ₹29.15 Cr ₹26.2 Cr ₹26.47 Cr ₹25.21 Cr ₹26.5 Cr ₹25.21 Cr ₹27.72 Cr ₹24.11 Cr ₹22.28 Cr ₹22.1 Cr
Finance Costs ₹2.76 Cr ₹3.69 Cr ₹1.9 Cr ₹3.56 Cr ₹3.47 Cr ₹5.09 Cr ₹5.37 Cr ₹4.7 Cr ₹4.66 Cr ₹4.91 Cr ₹4.64 Cr ₹4.21 Cr
Depreciation & Amortisation ₹7.8 Cr ₹7.99 Cr ₹8.08 Cr ₹9 Cr ₹8.29 Cr ₹8.49 Cr ₹8.4 Cr ₹8.29 Cr ₹8.99 Cr ₹7.43 Cr ₹7.31 Cr ₹7.25 Cr
Other Expenses ₹112.26 Cr ₹110.81 Cr ₹109.03 Cr ₹105.52 Cr ₹100.3 Cr ₹115.08 Cr ₹107.11 Cr ₹107.55 Cr ₹108.16 Cr ₹97.91 Cr ₹100.09 Cr ₹104.93 Cr
Total Expenses ₹422.38 Cr ₹398.93 Cr ₹396.99 Cr ₹414.43 Cr ₹408.37 Cr ₹405.27 Cr ₹469.42 Cr ₹385.4 Cr ₹404.23 Cr ₹376.49 Cr ₹396.02 Cr ₹391.59 Cr
Profit Before Exceptional Items & Tax ₹45.99 Cr ₹44.79 Cr ₹46.5 Cr ₹26.77 Cr ₹26.85 Cr ₹28.47 Cr ₹34.68 Cr ₹35.05 Cr ₹43.89 Cr ₹29.16 Cr ₹24.79 Cr ₹25.01 Cr
Exceptional Items ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0 ₹0
Profit Before Tax ₹45.99 Cr ₹44.79 Cr ₹46.5 Cr ₹26.77 Cr ₹26.85 Cr ₹28.47 Cr ₹34.68 Cr ₹35.05 Cr ₹43.89 Cr ₹29.16 Cr ₹24.79 Cr ₹25.01 Cr
Total Tax Expense ₹12.01 Cr ₹11.21 Cr ₹11.94 Cr ₹6.87 Cr ₹7.12 Cr ₹7.01 Cr ₹8.86 Cr ₹8.97 Cr ₹11.1 Cr ₹7.36 Cr ₹6.34 Cr ₹6.44 Cr
Net Profit ₹33.98 Cr ₹33.59 Cr ₹34.56 Cr ₹19.9 Cr ₹19.73 Cr ₹21.46 Cr ₹25.82 Cr ₹26.08 Cr ₹32.79 Cr ₹21.81 Cr ₹18.46 Cr ₹18.57 Cr
Other Comprehensive Income ₹13.77 Lakh ₹46.23 Lakh -₹7.83 Lakh -₹7.83 Lakh -₹42.19 Lakh ₹5.01 Lakh ₹4.59 Lakh ₹4.8 Lakh ₹42.08 Lakh -₹8.15 Lakh -₹8.16 Lakh -₹8.15 Lakh
Total Comprehensive Income ₹34.12 Cr ₹34.05 Cr ₹34.49 Cr ₹19.82 Cr ₹19.31 Cr ₹21.51 Cr ₹25.87 Cr ₹26.13 Cr ₹33.21 Cr ₹21.72 Cr ₹18.38 Cr ₹18.49 Cr
EBITDA (computed) ₹56.54 Cr ₹56.47 Cr ₹56.48 Cr ₹39.33 Cr ₹38.62 Cr ₹42.05 Cr ₹48.45 Cr ₹48.04 Cr ₹57.54 Cr ₹41.5 Cr ₹36.75 Cr ₹36.47 Cr
Basic EPS ₹3.52 ₹3.48 ₹3.61 ₹2.43 ₹2.42 ₹2.63 ₹3.17 ₹3.20 ₹4.02 ₹2.68 ₹2.27 ₹2.29
Diluted EPS ₹3.51 ₹3.47 ₹3.60 ₹2.43 ₹2.41 ₹2.62 ₹3.15 ₹3.18 ₹3.98 ₹2.66 ₹2.27 ₹2.28
Latest 12 quarters shown of 25 on record.
Metrics FY 2025
Revenue from Operations ₹1,764.41 Cr
Other Income ₹29.11 Cr
Total Income ₹1,793.52 Cr
Cost of Materials Consumed ₹1,093.68 Cr
Purchases of Stock-in-Trade ₹0
Changes in Inventories -₹10.75 Cr
Employee Benefit Expense ₹103.39 Cr
Finance Costs ₹18.63 Cr
Depreciation & Amortisation ₹33.47 Cr
Other Expenses ₹430.04 Cr
Total Expenses ₹1,668.46 Cr
Profit Before Exceptional Items & Tax ₹125.06 Cr
Exceptional Items ₹0
Profit Before Tax ₹125.06 Cr
Total Tax Expense ₹31.97 Cr
Net Profit ₹93.09 Cr
Other Comprehensive Income -₹27.79 Lakh
Total Comprehensive Income ₹92.81 Cr
EBITDA (computed) ₹177.16 Cr
Basic EPS ₹11.40
Diluted EPS ₹11.37
Metrics FY 2025
Total Assets ₹1,135.92 Cr
Non-current Assets ₹474.76 Cr
Current Assets ₹661.15 Cr
Property, Plant & Equipment ₹308.69 Cr
Inventories ₹334.97 Cr
Trade Receivables ₹261.3 Cr
Cash & Equivalents ₹10.76 Cr
Equity (Net Worth) ₹797.92 Cr
Equity Share Capital ₹81.73 Cr
Borrowings (Non-current) ₹3.3 Cr
Borrowings (Current) ₹116.43 Cr
Total Debt (computed) ₹119.73 Cr
Current Liabilities ₹313.22 Cr
Total Liabilities ₹338 Cr
Metrics FY 2025
Operating Cash Flow ₹126.91 Cr
Investing Cash Flow -₹126.83 Cr
Financing Cash Flow ₹3.03 Cr
Capital Expenditure ₹118.83 Cr
Free Cash Flow (computed) ₹8.08 Cr
Dividends Paid ₹16.24 Cr
Net Change in Cash ₹3.12 Cr
Metrics Q4 FY25 Q3 FY25 Q2 FY25 Q1 FY25
Revenue from Operations ₹428.04 Cr ₹426.77 Cr ₹494.82 Cr ₹414.78 Cr
Other Income ₹7.18 Cr ₹6.97 Cr ₹9.29 Cr ₹5.67 Cr
Total Income ₹435.22 Cr ₹433.74 Cr ₹504.11 Cr ₹420.45 Cr
Cost of Materials Consumed ₹220.4 Cr ₹305.26 Cr ₹265.62 Cr ₹302.4 Cr
Purchases of Stock-in-Trade ₹0 ₹0 ₹0 ₹0
Changes in Inventories ₹49.43 Cr -₹53.87 Cr ₹56.43 Cr -₹62.74 Cr
Employee Benefit Expense ₹26.47 Cr ₹25.21 Cr ₹26.5 Cr ₹25.21 Cr
Finance Costs ₹3.47 Cr ₹5.09 Cr ₹5.37 Cr ₹4.7 Cr
Depreciation & Amortisation ₹8.29 Cr ₹8.49 Cr ₹8.4 Cr ₹8.29 Cr
Other Expenses ₹100.3 Cr ₹115.08 Cr ₹107.11 Cr ₹107.55 Cr
Total Expenses ₹408.37 Cr ₹405.27 Cr ₹469.42 Cr ₹385.4 Cr
Profit Before Exceptional Items & Tax ₹26.85 Cr ₹28.47 Cr ₹34.68 Cr ₹35.05 Cr
Exceptional Items ₹0 ₹0 ₹0 ₹0
Profit Before Tax ₹26.85 Cr ₹28.47 Cr ₹34.68 Cr ₹35.05 Cr
Total Tax Expense ₹7.12 Cr ₹7.01 Cr ₹8.86 Cr ₹8.97 Cr
Net Profit ₹19.73 Cr ₹21.46 Cr ₹25.82 Cr ₹26.08 Cr
Other Comprehensive Income -₹42.19 Lakh ₹5.01 Lakh ₹4.59 Lakh ₹4.8 Lakh
Total Comprehensive Income ₹19.31 Cr ₹21.51 Cr ₹25.87 Cr ₹26.13 Cr
EBITDA (computed) ₹38.62 Cr ₹42.05 Cr ₹48.45 Cr ₹48.04 Cr
Basic EPS ₹2.42 ₹2.63 ₹3.17 ₹3.20
Diluted EPS ₹2.41 ₹2.62 ₹3.15 ₹3.18
Latest 4 quarters shown.
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Shareholding Pattern of Vardhman Special Steels Limited

As per the shareholding pattern filed with NSE for the quarter ended Mar 2026, promoters hold 51.06%, foreign institutional investors hold 0.55%, domestic institutional investors hold 3.34%, retail and other public shareholders hold 45.05% of Vardhman Special Steels Limited. The company had 36,854 shareholders on record.

Promoters: 51.06%DII (Domestic Institutional): 3.34%FII (Foreign Institutional): 0.55%Retail & Others: 45.05%
Mar 2026
QUARTER
51.06% Promoters
3.34% DII (Domestic Institutional)
0.55% FII (Foreign Institutional)
45.05% Retail & Others
Promoter holding - history
Now 51.06% · Mar 2026High 74.97% · Dec 2015Low 51.06% · Mar 2026
50%56.5%63%69.5%76%Dec 2015Jun 2018Dec 2020Jun 2023Dec 2025Dec 2015: 74.97%Mar 2016: 74.97%Jun 2016: 74.97%Sep 2016: 74.97%Dec 2016: 74.97%Mar 2017: 74.97%Jun 2017: 72.80%Sep 2017: 72.80%Dec 2017: 72.80%Feb 2018: 65.51%Mar 2018: 65.75%Jun 2018: 66.10%Sep 2018: 66.39%Dec 2018: 66.59%Mar 2019: 66.48%Jun 2019: 66.48%Sep 2019: 66.61%Nov 2019: 58.97%Dec 2019: 58.97%Mar 2020: 59.18%Jun 2020: 59.18%Sep 2020: 59.34%Dec 2020: 59.78%Mar 2021: 60.73%Jun 2021: 60.87%Sep 2021: 60.87%Dec 2021: 60.87%Mar 2022: 60.78%Jun 2022: 60.81%Sep 2022: 60.81%Dec 2022: 60.81%Mar 2023: 60.71%May 2023: 60.71%Jun 2023: 60.71%Sep 2023: 60.71%Dec 2023: 60.67%Mar 2024: 60.56%Jun 2024: 60.56%Sep 2024: 60.53%Dec 2024: 60.49%Mar 2025: 60.37%Jun 2025: 60.37%Jul 2025: 51.13%Sep 2025: 51.13%Dec 2025: 51.10%Mar 2026: 51.06%74.97%51.06%
Shareholding trend - last 6 quarters
Mar 2026Dec 2025Sep 2025Jul 2025Jun 2025Mar 2025
Promoters51.06%51.10%51.13%51.13%60.37%60.37%
Public48.94%48.90%48.87%48.87%39.63%39.63%
Shareholding history - year on year (as at 31 March)
Mar 2026Mar 2025Mar 2024Mar 2023Mar 2022Mar 2021Mar 2020Mar 2019Mar 2018Mar 2017Mar 2016
Promoters51.06%60.37%60.56%60.71%60.78%60.73%59.18%66.48%65.75%74.97%74.97%
Public48.94%39.63%39.44%39.29%39.22%39.27%40.82%33.52%34.25%25.03%25.03%
Promoter change (YoY, %pts)-9.31-0.19-0.15-0.07+0.05+1.55-7.30+0.73-9.22+0.00-

Board & Governance of Vardhman Special Steels Limited

As per the corporate governance filing with NSE for the quarter ended 31-MAR-2026, the board of Vardhman Special Steels Limited has 14 directors - 7 independent and 3 executive. The board is chaired by Sachit Jain.

DirectorPositionOn board sinceListed boards
Suchita Jain Non-Executive - Non Independent Director 2010-05-14 4
Rajinder Kumar Jain Non-Executive - Non Independent Director 2011-03-15 1
Soumya Jain Executive Director 2023-08-02 2
Sachit Jain Executive Director · MD · Chairperson 2010-05-14 4
Rakesh Jain Non-Executive - Independent Director 2018-04-27 2
Toshio Ito Non-Executive - Non Independent Director 2022-07-25 1
Rajendar Kumar Rewari Executive Director 2022-07-25 1
Suman Chatterjee Non-Executive - Independent Director 2022-07-25 1
Vidya Rashesh Shah Non-Executive - Independent Director 2022-07-25 3
Hemant Bharat Ram Non-Executive - Independent Director 2024-07-25 2
Randhir Singh Kalsi Non-Executive - Independent Director 2024-11-07 2
Dinkar Gupta Non-Executive - Independent Director 2025-09-25 2
Nishant Arya Non-Executive - Independent Director 2025-09-25 3
Koichiro Hayashida Non-Executive - Non Independent Director 2025-07-04 1
Board Committees
CommitteeMembers
Audit Committee Rakesh Jain (Chairperson), Vidya Rashesh Shah, Suman Chatterjee, Hemant Bharat Ram
Nomination and remuneration committee Rakesh Jain (Chairperson), Suman Chatterjee, Randhir Singh Kalsi
Stakeholders Relationship Committee Suman Chatterjee (Chairperson), Rajendar Kumar Rewari, Soumya Jain
Risk Management Committee Suman Chatterjee (Chairperson), Rajendar Kumar Rewari, Sanjeev Singla, Hemant Bharat Ram, Davinder Singh

Charges & Borrowings of Vardhman Special Steels Limited

Open charges
₹500 Cr
Satisfied charges
₹443.75 Cr
Breakdown by lending institutions
Others₹500.00 Cr
Latest charge details
DateLenderAmountStatus
25 May 2011 Others ₹500 Cr Open
28 Jun 2019 Hdfc Bank Limited ₹40 Cr Satisfied
23 Jan 2019 Others ₹75 Cr Satisfied
29 Oct 2015 State Bank of India ₹65 Cr Satisfied
29 Oct 2015 State Bank of India ₹28 Cr Satisfied

Total charge records: 9 View all charges

Employees and EPFO Compliance at Vardhman Special Steels Limited

Vardhman Special Steels Limited has a workforce of 1,517 employees as of Feb 02, 2026.

Employee count
1,517
Active EPFO establishments
1
Employee growth
1.07%
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026

Employee Count & EPFO Data of Vardhman Special Steels Limited

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Monthly employee headcount & PF contributions
EPFO establishment details & ECR filing status
Year-wise workforce analytics & attrition trends
PF exemption, coverage & compliance verification

GST Compliance of Vardhman Special Steels Limited

XX%
Compliant
GSTR-1
GSTR-3B
GSTR-9
MH
KA
UP
TN
TS

GSTIN & GST Filing Data of Vardhman Special Steels Limited

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GSTIN registrations & state-wise presence
Filing compliance - GSTR-1, GSTR-3B, GSTR-9
HSN/SAC codes with goods & services details
Taxpayer type, jurisdiction & business constitution

Credit Ratings, Litigation & Regulatory Alerts for Vardhman Special Steels Limited

Credit rating
AAA
AA+
AA
AA-
! !
2015 2017 2019 2021 2023
Litigation
District Court 35
High Court 45
Supreme Court 0
NCLT / NCLAT 0
Pending
Disposed
Regulatory alerts
GSTIN Cancelled
Andhra Pradesh
GSTIN Cancelled
Telangana (on application)
EPFO Delay
12 months delay - Haryana
Violations via Directors
20 MCA + 19 Bank defaults

Credit Ratings, Legal Cases & Regulatory Alerts of Vardhman Special Steels Limited

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Credit rating history across CARE, ICRA, Brickwork & India Ratings
Instrument-wise ratings, outlook & action timeline
Court-wise litigation (District, High Court, Supreme Court, NCLT)
Group company & common directorship litigation
Statutory compliance alerts (GSTIN, EPFO, ROC)
Director & company violations (MCA, SEBI, Banks, BSE/NSE)

MSME Payment Delays by Vardhman Special Steels Limited

MSME Payment Delays by Vardhman Special Steels Limited

Track payments outstanding to micro and small enterprise vendors, as disclosed in half-yearly MSME-1 returns filed with the MCA.

Amounts outstanding to MSME suppliers
Delay periods & reasons for delayed payments
Half-yearly MSME-1 filing history
Vendor-payment behaviour as a counterparty risk signal

Subsidiaries & Group Companies of Vardhman Special Steels Limited

Subsidiaries & Group Companies of Vardhman Special Steels Limited

See the full corporate group - holding company, subsidiaries, associates and joint ventures of Vardhman Special Steels Limited with ownership details.

Holding & parent company details
Subsidiaries & step-down subsidiaries with % holding
Associates & joint ventures with partner details
Investments in other entities year-on-year

MCA Filings & Documents of Vardhman Special Steels Limited

MCA Filings & Documents of Vardhman Special Steels Limited

Download official documents filed with the Ministry of Corporate Affairs - from incorporation papers to the latest annual filings.

Incorporation documents, MoA & AoA
Annual returns (MGT-7) & financial statements (AOC-4)
Charge filings (CHG-1, CHG-4) & resolutions
Complete document index with filing dates

Recent Activity on Vardhman Special Steels Limited

Directors
25 Sep 2025
Nishant Arya was appointed as a Director on 25 Sep 2025 & has been associated with this company since 9 months 14 days.
Directors
25 Sep 2025
Dinkar Gupta was appointed as a Director on 25 Sep 2025 & has been associated with this company since 9 months 14 days.
Activity
24 Sep 2025
Vardhman Special Steels Limited last Annual general meeting of members was held on 24 Sep 2025 as per latest MCA records.
Charges
30 Jul 2025
A charge registered on 28 Jun 2019 via Charge ID 100274300 with Hdfc Bank Limited was fully satisfied on 30 Jul 2025.
Directors
04 Jul 2025
Koichiro Hayashida was appointed as a Director on 04 Jul 2025 & has been associated with this company since 1 year 5 days.
Charges
01 Jul 2025
A charge registered on 23 Jan 2019 via Charge ID 100237015 with Others was fully satisfied on 01 Jul 2025.

Recent News on Vardhman Special Steels Limited

Savio meets Vardhman demand for quality Lycra yarn
26 Feb 2019 · Textile Magazine

Frequently Asked Questions about Vardhman Special Steels Limited

Vardhman Special Steels Limited is an active public limited company in the metals and minerals sector based in Ludhiana, Punjab, India. It was incorporated on 14 May 2010 (16+ years old) and is registered under CIN L27100PB2010PLC033930. Listed on BSE: 534392 and NSE: VSSL. The company has 1,517 employees.

Vardhman Special Steels Limited reported revenue of ₹1,793.52 Cr for FY 2025 (up 6.00% YoY).

The current directors of Vardhman Special Steels Limited are:

The primary industry of Vardhman Special Steels Limited is metals and minerals. The company specifically operates in steel manufacturing and processing. The company is currently active in this sector.

Yes. Vardhman Special Steels Limited is listed on both BSE (code: 534392) and NSE (symbol: VSSL).

Vardhman Special Steels Limited can be reached at the registered office: Vardhman Premises Chandigarh Road, Ludhiana, Punjab, India – 141010, or through the website vardhmansteel.com.

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Financials, directors, compliance, charges and shareholding - sourced from MCA, SEBI and RBI filings.

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