Vardhman Special Steels Limited — Quarter and year ended 31 March 2026
| Sr. No. | Particulars | Quarter Ended | Year Ended |
|---|---|---|---|
| 31.03.2026 (Refer note-7) | 31.12.2025 (Unaudited) | ||
| 1 | Revenue from operations | 45,791.54 | 43,054.49 |
| 2 | Other income (also refer to note 1) | 1,045.67 | 1,317.41 |
| 3 | Total income (1+2) | 46,837.21 | 44,371.90 |
| 4 | Expenses: | ||
| a) | Cost of materials consumed | 24,137.27 | 24,341.26 |
| b) | Changes in inventories of finished goods and work-in progress | 2,845.99 | 383.32 |
| c) | Employee benefits expense | 2,974.19 | 2,918.90 |
| d) | Finance cost | 275.75 | 368.72 |
| e) | Depreciation and amortisation expense | 779.64 | 799.27 |
| f) | Other expenses | ||
| – Power and fuel expense | 4,682.10 | 4,833.78 | |
| – Others | 6,543.52 | 6,247.51 | |
| Total expenses | 42,238.46 | 39,892.76 | |
| 5 | Profit before tax (3-4) | 4,598.75 | 4,479.14 |
| 6 | Tax expense | ||
| – Current tax | 976.12 | 1,100.86 | |
| – Deferred tax | 224.69 | 19.69 | |
| 7 | Profit after tax (5-6) | 3,397.94 | 3,358.59 |
| 8 | Other comprehensive income | ||
| Items that will not be reclassified to profit or loss: | |||
| (i) | Remeasurements of the defined benefits plans | 18.40 | 61.78 |
| (ii) | Income tax relating to items that will not be reclassified to profit or loss | (4.63) | (15.55) |
| Other comprehensive income/(loss) for the period/year (net of tax) | 13.77 | 46.23 | |
| 9 | Total comprehensive income for the period/year (7+8) | 3,411.71 | 3,404.82 |
| 10 | Earnings per equity share (in Rs.) (not annualised for quarters): | ||
| (a) | Basic | 3.52 | 3.48 |
| (b) | Diluted | 3.51 | 3.47 |
| 11 | Paid-up equity capital (face value Rs. 10/- per share) (refer note no.4) | 9,668.57 | 9,656.19 |
| 12 | Other equity |
| Particulars | As at 31 March 2026 (Audited) | As at 31 March 2025 (Audited) |
|---|---|---|
| I. ASSETS | ||
| Non-current assets | ||
| (a) Property, plant and equipment | 58,476.49 | 30,829.27 |
| (b) Right-of-use assets | 23.03 | 39.28 |
| (c) Capital work-in-progress | 2,646.86 | 11,703.36 |
| (d) Intangible assets | 1.38 | 2.15 |
| (e) Financial assets | ||
| – Investments | 335.21 | 765.53 |
| – Loans | 230.78 | 292.42 |
| – Other financial assets | 291.50 | 294.04 |
| (f) Others tax asset (net) | 47.36 | 0.82 |
| (g) Other non-current assets | 5,720.64 | 3,549.48 |
| Total non-current assets | 67,773.25 | 47,476.35 |
| Current assets | ||
| (a) Inventories | 35,024.13 | 33,497.38 |
| (b) Financial assets | ||
| – Investments | 15,480.08 | 1,000.72 |
| – Trade receivables | 27,784.35 | 26,130.08 |
| – Cash and cash equivalents | 626.89 | 1,075.68 |
| – Bank balances other than cash and cash equivalents | 5,229.19 | 56.15 |
| – Loans | 234.33 | 213.07 |
| – Other financial assets | 3,972.21 | 3,409.06 |
| (c) Other current assets | 7,187.13 | 733.06 |
| Total current assets | 95,538.31 | 66,115.20 |
| TOTAL ASSETS | 1,63,311.56 | 1,13,591.55 |
| II. EQUITY AND LIABILITIES | ||
| Equity | ||
| (a) Equity share capital | 9,668.57 | 8,173.33 |
| (b) Other equity | 1,18,063.41 | 71,618.49 |
| Total equity | 1,27,731.98 | 79,791.82 |
| Liabilities | ||
| Non-current liabilities | ||
| (a) Financial liabilities | ||
| – Borrowings | – | 329.55 |
| – Lease liabilities | 10.27 | 35.58 |
| – Other financial liabilities | 64.98 | 15.26 |
| (b) Provisions | 208.82 | 215.57 |
| (c) Deferred tax liabilities (net) | 2,269.43 | 1,842.97 |
| (d) Other non-current liabilities | 32.89 | 39.19 |
| Total non-current liabilities | 2,586.39 | 2,478.12 |
| Current liabilities | ||
| (a) Financial liabilities | ||
| – Borrowings | 9,264.95 | 11,643.29 |
| – Lease liabilities | 25.31 | 21.98 |
| – Trade payables | ||
| i. total outstanding dues of micro enterprises and small enterprises | 941.39 | 581.57 |
| ii. total outstanding dues of creditors other than micro enterprises and small enterprises | 17,479.69 | 13,348.71 |
| – Other financial liabilities | 3,489.29 | 3,853.55 |
| (b) Other current liabilities | 1,660.57 | 1,638.61 |
| (c) Provisions | 131.99 | 195.16 |
| (d) Current tax liabilities (net) | – | 38.74 |
| Total current liabilities | 32,993.19 | 31,321.61 |
| Total Liabilities | 35,579.58 | 33,799.73 |
| TOTAL EQUITY AND LIABILITIES | 1,63,311.56 | 1,13,591.55 |
| Particulars | For the year ended 31 March 2026 (Audited) | For the year ended 31 March 2025 (Audited) |
|---|---|---|
| A. Cash flow from operating activities | ||
| Profit before income tax | 16,404.94 | 12,506.06 |
| Adjustments for: | ||
| Depreciation and amortization expense | 3,286.68 | 3,346.99 |
| Change in fair value of derivative financial instruments | (11.97) | (89.00) |
| Unrealized foreign exchange (gain) (net) | (13.80) | (28.82) |
| Loss on sale/written off property, plant and equipment (net) | 258.04 | 16.41 |
| Share based payments to employees | 87.08 | 106.80 |
| Vendor balances written off | 0.92 | 17.62 |
| Finance costs | 1,190.58 | 1,862.71 |
| Interest income | (1,041.51) | (152.10) |
| Gain on sale of current investments | (107.16) | (132.83) |
| Gain on fair value of investments | (374.69) | (0.72) |
| Liabilities no longer required written back | (5.32) | (23.88) |
| Operating profit before change in following assets and liabilities | 19,673.79 | 17,429.24 |
| Adjustments for: | ||
| (Increase)/decrease in inventories | (1,526.75) | 2,119.86 |
| (Increase)/decrease in trade receivables | (1,627.56) | 84.83 |
| (Increase) in current loans | (38.76) | (47.16) |
| (Increase) in other financial current assets | (561.98) | (1,171.97) |
| (Increase)/decrease in other current assets | (6,383.28) | 984.93 |
| Decrease/(Increase) in non-current loans | 61.64 | (26.20) |
| (Increase) in other non-current assets | (22.94) | (61.44) |
| (Decrease)/Increase in non-current provisions | (6.75) | 20.56 |
| (Decrease) in other non-current liabilities | (6.30) | (4.28) |
| Increase /(decrease) in trade payables | 4,482.29 | (3,484.19) |
| Increase /(decrease) in other financial current liabilities | 352.88 | (164.74) |
| Increase /(decrease) in other financial liabilities | 49.72 | (9.72) |
| Increase in other current liabilities | 21.96 | 289.34 |
| (Decrease)/increase in current provisions | (3.92) | 14.79 |
| Cash generated from operating activities | 14,464.04 | 15,973.85 |
| Income tax paid (net) | (3,876.28) | (3,282.72) |
| Net cash generated from operating activities (A) | 10,587.76 | 12,691.13 |
| B. Cash flow from investing activities | ||
| Acquisition of property, plant and equipment and intangible assets | (24,262.02) | (11,883.17) |
| Proceeds from sale of property, plant and equipment and intangible assets | 140.31 | 43.55 |
| Realisation on sale /cost incurred towards assets held for sale | – | 693.44 |
| Movement in other bank balances | (5,173.04) | (44.12) |
| Acquisition of non-current investments | (480.09) | (765.53) |
| Acquisition of current investments | (61,217.36) | (21,250.00) |
| Realisation of current investments | 47,219.85 | 20,383.56 |
| Interest received | 1,049.19 | 139.60 |
| Net cash (used in) investing activities (B) | (42,723.16) | (12,682.67) |
| C. Cash flow from financing activities | ||
| Proceeds from issue of share capital (including premium) (net of share issue expense) | 38,501.45 | 98.46 |
| Repayments of non-current borrowings | (1,413.19) | (2,300.95) |
| Payment of Lease liabilities | (26.12) | (24.88) |
| (Repayments) / proceeds of current borrowing (net) | (1,295.15) | 5,976.91 |
| Dividends on equity share capital paid | (2,888.22) | (1,624.42) |
| Interest paid | (1,192.16) | (1,821.93) |
| Net cash generated from financing activities (C) | 31,686.61 | 303.19 |
| Net (increase)/decrease in cash and cash equivalents (A+B+C) | (448.79) | 311.65 |
| Cash and cash equivalents at the beginning of the year | 1,075.68 | 764.03 |
| Cash and cash equivalents at the end of the year (see below) | 626.89 |