| Scrip Code | 534392 |
|---|---|
| NSE Symbol | VSSL |
| MSEI Symbol | NOTLISTED |
| ISIN | INE050M01012 |
| Name of company | VARDHMAN SPECIAL STEELS LIMITED |
| Type of company | Main Board |
| Class of security | Equity |
| Date of start of financial year | 01-04-2025 |
| Date of end of financial year | 31-03-2026 |
| Date of board meeting when results were approved | 20-01-2026 |
| Date on which prior intimation of the meeting for considering financial results was informed to the exchange | 14-01-2026 |
| Description of presentation currency | INR |
| Level of rounding used in financial results | Lakhs |
| Reporting Type | Quarterly |
| Reporting Quarter | Third quarter |
| Nature of report standalone or consolidated | Standalone |
| Whether results are audited or unaudited for the quarter ended | Unaudited |
| Whether results are audited or unaudited for the Year to date for current period ended/year ended | Unaudited |
| Segment Reporting | Single segment |
| Description of single segment | Manufacturing of Steel Products |
| Start date and time of board meeting | 20-01-2026 10:30:00 |
| End date and time of board meeting | 20-01-2026 13:40:00 |
| Whether cash flow statement is applicable on company | |
| Type of cash flow statement | |
| Declaration of unmodified opinion or statement on impact of audit qualification | Not applicable |
| Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? | Yes |
| No. of times funds raised during the quarter | 1 |
| Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? | No |
| No Default during the reporting period. | |
| Particulars | 3 months/ 6 months ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |
|---|---|---|---|
| A | Date of start of reporting period | 01-10-2025 | 01-04-2025 |
| B | Date of end of reporting period | 31-12-2025 | 31-12-2025 |
| C | Whether results are audited or unaudited | Unaudited | Unaudited |
| D | Nature of report standalone or consolidated | Standalone | Standalone |
| 1 | Income | ||
| Revenue from operations | 43,054.49 | 1,29,651.77 | |
| Other income | 1,317.41 | 3,188.93 | |
| Total income | 44,371.90 | 1,32,840.70 | |
| 2 | Expenses | ||
| (a) | Cost of materials consumed | 24,341.26 | 73,302.01 |
| (b) | Purchases of stock-in-trade | 0.00 | 0.00 |
| (c) | Changes in inventories of finished goods, work-in-progress and stock-in-trade | 383.32 | 3,320.49 |
| (d) | Employee benefit expense | 2,918.90 | 8,453.68 |
| (e) | Finance costs | 368.72 | 914.83 |
| (f) | Depreciation, depletion and amortisation expense | 799.27 | 2,507.04 |
| (f) | Other Expenses | ||
| 1 | Power and Fuel Expenses | 4,833.78 | 14,365.93 |
| 2 | others | 6,247.51 | 18,170.53 |
| Total other expenses | 11,081.29 | 32,536.46 | |
| Total expenses | 39,892.76 | 1,21,034.51 | |
| 3 | Total profit before exceptional items and tax | 4,479.14 | 11,806.19 |
| 4 | Exceptional items | 0.00 | 0.00 |
| 5 | Total profit before tax | 4,479.14 | 11,806.19 |
| 6 | Tax expense | ||
| 7 | Current tax | 1,100.86 | 2,814.88 |
| 8 | Deferred tax | 19.69 | 186.86 |
| 9 | Total tax expenses | 1,120.55 | 3,001.74 |
| 10 | Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement | 0.00 | 0.00 |
| 11 | Net Profit Loss for the period from continuing operations | 3,358.59 | 8,804.45 |
| 12 | Profit (loss) from discontinued operations before tax | 0.00 | 0.00 |
| 13 | Tax expense of discontinued operations | 0.00 | 0.00 |
| 14 | Net profit (loss) from discontinued operation after tax | 0.00 | 0.00 |
| 15 | Share of profit (loss) of associates and joint ventures accounted for using equity method | 0.00 | 0.00 |
| 16 | Total profit (loss) for period | 3,358.59 | 8,804.45 |
| 17 | Other comprehensive income net of taxes | 46.23 | 30.57 |
| 18 | Total Comprehensive Income for the period | 3,404.82 | 8,835.02 |
| 19 | Total profit or loss, attributable to | ||
| Profit or loss, attributable to owners of parent | |||
| Total profit or loss, attributable to non-controlling interests | |||
| 20 | Total Comprehensive income for the period attributable to | ||
| Comprehensive income for the period attributable to owners of parent | |||
| Total comprehensive income for the period attributable to owners of parent non-controlling interests | |||
| 21 | Details of equity share capital | ||
| Paid-up equity share capital | 9,656.19 | 9,656.19 | |
| Face value of equity share capital | 10 | 10 | |
| 27 | Details of debt securities | ||
| 22 | Reserves excluding revaluation reserve | ||
| 23 | Earnings per share | ||
| i | Earnings per equity share for continuing operations | ||
| Basic earnings (loss) per share from continuing operations | 3.48 | 9.63 | |
| Diluted earnings (loss) per share from continuing operations | 3.47 | 9.62 | |
| ii | Earnings per equity share for discontinued operations | ||
| Basic earnings (loss) per share from discontinued operations | 0 | 0 | |
| Diluted earnings (loss) per share from discontinued operations | 0 | 0 | |
| ii | Earnings per equity share | ||
| Basic earnings (loss) per share from continuing and discontinued operations | 3.48 | 9.63 | |
| Diluted earnings (loss) per share from continuing and discontinued operations | 3.47 | 9.62 | |
| 24 | Debt equity ratio | ||
| 25 | Debt service coverage ratio | ||
| 26 | Interest service coverage ratio | ||
| 27 | Disclosure of notes on financial results | Textual Information(1) | |
| Textual Information(1) | Please refer pdf results. |
|---|
| Debt equity ratio | |
|---|---|
| Debt service coverage ratio | |
| Interest service coverage ratio |
| Particulars | 3 months/ 6 month ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |||||
|---|---|---|---|---|---|---|---|
| Date of start of reporting period | 01-10-2025 | 01-04-2025 | |||||
| Date of end of reporting period | 31-12-2025 | 31-12-2025 | |||||
| Whether results are audited or unaudited | Unaudited | Unaudited | |||||
| Nature of report standalone or consolidated | Standalone | Standalone | |||||
| 1 | Segment Revenue (Income) | ||||||
| (net sale/income from each segment should be disclosed) | |||||||
| Total Segment Revenue | |||||||
| Less: Inter segment revenue | |||||||
| Revenue from operations | |||||||
| 2 | Segment Result | ||||||
| Profit (+) / Loss (-) before tax and interest from each segment | |||||||
| Total Profit before tax | |||||||
| i. Finance cost | |||||||
| ii. Other Unallocable Expenditure net off Unallocable income | |||||||
| Profit before tax | |||||||
| 3 | (Segment Asset - Segment Liabilities) | ||||||
| Segment Asset | |||||||
| Total Segment Asset | |||||||
| Un-allocable Assets | null | null | |||||
| Net Segment Asset | null | null | |||||
| 4 | Segment Liabilities | ||||||
| Segment Liabilities | |||||||
| Total Segment Liabilities | |||||||
| Un-allocable Liabilities | null | null | |||||
| Net Segment Liabilities | null | null | |||||
| Disclosure of notes on segments | |||||||
| Particulars | 3 months/ 6 months ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |
|---|---|---|---|
| A | Date of start of reporting period | 01-10-2025 | 01-04-2025 |
| B | Date of end of reporting period | 31-12-2025 | 31-12-2025 |
| C | Whether results are audited or unaudited | Unaudited | Unaudited |
| D | Nature of report standalone or consolidated | Standalone | Standalone |
| Other comprehensive income [Abstract] | |||
| 1 | Amount of items that will not be reclassified to profit and loss | ||
| 1 | Remeasurement of the defined benefits plans | 61.78 | 40.85 |
| Total Amount of items that will not be reclassified to profit and loss | 61.78 | 40.85 | |
| 2 | Income tax relating to items that will not be reclassified to profit or loss | 15.55 | 10.28 |
| 3 | Amount of items that will be reclassified to profit and loss | ||
| Total Amount of items that will be reclassified to profit and loss | |||
| 4 | Income tax relating to items that will be reclassified to profit or loss | 0.00 | 0.00 |
| 5 | Total Other comprehensive income | 46.23 | 30.57 |
| Mode of Fund Raising | Preferential Issues |
|---|---|
| Description of mode of fund raising (Applicable in case of others is selected) | |
| Date of Raising Funds | 04-07-2025 |
| Amount Raised | 38,490.88 |
| Report filed for Quarter ended | 31-12-2025 |
| Monitoring Agency | Applicable |
| Monitoring Agency Name, if applicable | CRISIL RATINGS LIMITED |
| Is there a Deviation / Variation in use of funds raised | No |
| If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders | |
| If Yes, Date of shareholder Approval | |
| Explanation for the Deviation / Variation | |
| Comments of the Audit Committee after review | NO COMMENTS |
| Comments of the auditors, if any | NO COMMENTS |
| Sr. | Original Object | Modified Object, if any | Original Allocation | Modified allocation, if any | Funds Utilised | Amount of Deviation/Variation for the quarter according to applicable object | Remarks if any |
| Name of signatory | Sonam Dhingra |
| Designation of person | Company Secretary and Compliance Officer |
| Place | Ludhiana |
| Date | 20-01-2026 |