Vardhman Special Steels Announces FY26 Results, Highlights Strong EBITDA Growth and Dividend Recommendation

Vardhman Special Steels Announces FY26 Results, Highlights Strong EBITDA Growth and Dividend Recommendation​

Vardhman Special Steels Limited, a leading producer of special steels in India, has announced its audited financial results for the fourth quarter and the full year ended March 31, 2026. The results, declared in a board meeting on April 28, 2026, reflect key operational milestones and significant financial performance improvements for the company.

The company, which services diverse sectors including automotive, engineering, tractor, and bearing industries, reported that for the financial year 2026, its volumes reached 2,25,620 tonnes. Revenue from Operations for FY26 stood at Rs. 1,754.43 Crore, while EBITDA (including other income) reached Rs. 208.82 Crore. Profit After Tax (PAT) for the year was reported at Rs. 122.02 Crore. Furthermore, the Board recommended a dividend of Rs. 3.50 per equity share.

Financial Performance Overview​

The company provided a detailed comparison of its performance across key metrics, as shown in the table below:

Quarter 4 and Full Year Analysis​

Quarter Ended March 31, 2026:
The volumes for the quarter were 59,370 tonnes, up from 53,834 tonnes in Q4FY25. Revenue from Operations stood at Rs. 457.92 crore, attributed to higher sales volumes offsetting a decline in prices compared to Q4FY25. EBITDA (including other income) increased by 46.40% year over year, reaching Rs. 56.54 crore.

Full Year Ended March 31, 2026:
The company recorded volumes of 2,25,620 tonnes for FY26. Revenue from Operations for FY26 was Rs. 1,754.43 crore, reflecting a minor decline of 0.57% year over year, primarily due to price movements. EBITDA increased by 17.87%, reaching Rs. 208.82 crore. PAT for the full year reached Rs. 122.02 crore, marking a 31.08% increase year over year.

Strategic Commentary​

Commenting on the results, Mr. Sachit Jain, Chairman & Managing Director of Vardhman Special Steels Ltd., stated that FY26 was a milestone year characterized by strong execution across strategic, operational, and financial goals. He noted that early in the year, the company strengthened its balance sheet by becoming debt-free, which enhanced financial flexibility.

Mr. Jain also highlighted the technological progress, including the successful commissioning of the Kocks Block. Furthermore, the partnership with Aichi Steel Corporation was reinforced through increased stakes and continued technical collaboration, including the approval of a forging facility for future integration into value-added automotive components.

The company emphasized that Q4 FY26 was particularly significant due to the commissioning of its solar power plant and the installation of a new reheating furnace. These developments are set to increase the company's total capacity to 270,000 tonnes, strengthening manufacturing capabilities and positioning the company for stable margins and higher volumes.

Vardhman Special Steels Limited is one of India's foremost producers of special steels, servicing requirements for the Automotive, Engineering, Tractors, Bearings, and Allied Industries. The company operates using state-of-the-art manufacturing facilities and maintains long-term relationships with global corporations such as Toyota, Maruti, Hyundai, Hero Moto Corp, Caterpillar, Hino Motors, and Bajaj.

VSSL Stock Price Movement​

Today, Vardhman Special Steels Limited shares edged higher to settle at ₹293.29, recording a strong 7.70% gain for the day. The stock saw strong market activity, supported by a trading volume that crossed the 4.88 million share mark.