Vardhman Special Steels Posts Strong Q1 FY27 Results: Net Profit Surges 107% YoY to ₹41.19 Crore

Vardhman Special Steels Limited (BSE: 534338, NSE: VSSL; CIN: L27100PB2010PLC033930) has announced its unaudited financial results for the first quarter ended June 30, 2026 (Q1 FY27). The Ludhiana-headquartered steel producer recorded impressive top-line growth accompanied by a more than doubling of its net profit year-on-year (YoY), driven by robust operational efficiencies and strong demand in the automotive and industrial steel segments.

Executive Financial Summary

(All values converted from ₹ Lakhs to ₹ Crore for readability)

Revenue from Operations: Stood at ₹486.01 crore in Q1 FY27, reflecting a 12.06% YoY increase compared to ₹433.70 crore in Q1 FY26. Sequentially, revenue expanded 6.13% QoQ over ₹457.92 crore in Q4 FY26.

Other Income: Came in at ₹9.86 crore for the quarter, compared to ₹7.50 crore in Q1 FY26 (+31.47% YoY) and ₹10.46 crore in Q4 FY26.

Total Income: Reached ₹495.86 crore in Q1 FY27, up 12.39% YoY from ₹441.20 crore in Q1 FY26 and up 5.87% QoQ compared to ₹468.37 crore in Q4 FY26.

Profit Before Tax (PBT): Surged 106.97% YoY to ₹55.40 crore in Q1 FY27 compared to ₹26.77 crore in Q1 FY26. Sequentially, PBT grew 20.47% QoQ over ₹45.99 crore reported in Q4 FY26.

Total Tax Expense: Stood at ₹14.22 crore for Q1 FY27 (comprising current tax of ₹12.30 crore and deferred tax of ₹1.91 crore), compared to ₹6.87 crore in Q1 FY26.

Net Profit (PAT): Jumped 107.01% YoY to ₹41.19 crore in Q1 FY27 compared to ₹19.90 crore in Q1 FY26. Sequentially, PAT expanded 21.21% QoQ from ₹33.98 crore in Q4 FY26.

Total Comprehensive Income: Reached ₹41.26 crore for the quarter (after incorporating an other comprehensive income of ₹0.07 crore), up 108.21% YoY from ₹19.82 crore in Q1 FY26.

Earnings Per Share (EPS): Basic EPS rose significantly to ₹4.26 per share (face value ₹10/- each), compared to ₹2.43 in Q1 FY26 and ₹3.52 in Q4 FY26. Diluted EPS stood at ₹4.25 for the quarter.

Operating Expenditure & Cost Structure

Total Expenses: Stood at ₹440.46 crore in Q1 FY27, up 6.28% YoY compared to ₹414.43 crore in Q1 FY26 and 4.28% QoQ against ₹422.38 crore in Q4 FY26.

Cost of Materials Consumed: Outlay reached ₹293.22 crore in Q1 FY27 (vs. ₹228.88 crore in Q1 FY26 and ₹241.37 crore in Q4 FY26).

Changes in Inventories (Finished Goods & WIP): Recorded at (₹14.89) crore in Q1 FY27 compared to ₹41.27 crore in Q1 FY26 and ₹28.46 crore in Q4 FY26.

Power & Fuel Expense: Maintained as a key cost item at ₹50.91 crore in Q1 FY27 (vs. ₹43.61 crore in Q1 FY26 and ₹46.82 crore in Q4 FY26).

Employee Benefits Expense: Stood at ₹32.15 crore for the quarter (vs. ₹26.20 crore in Q1 FY26 and ₹29.74 crore in Q4 FY26).

Finance Costs: Reduced YoY to ₹3.32 crore in Q1 FY27 (vs. ₹3.56 crore in Q1 FY26), though up sequentially from ₹2.76 crore in Q4 FY26.

Depreciation & Amortization: Came in at ₹9.57 crore (vs. ₹9.00 crore in Q1 FY26 and ₹7.80 crore in Q4 FY26).

Other Expenses (Excluding Power & Fuel): Stood at ₹66.18 crore in Q1 FY27 (vs. ₹61.90 crore in Q1 FY26 and ₹65.44 crore in Q4 FY26).

Capital Structure

Paid-Up Equity Share Capital: Stood at ₹96.69 crore (comprising equity shares with a face value of ₹10/- each) as of June 30, 2026, expanded from ₹81.73 crore in Q1 FY26.

Other Equity: Stood at ₹1,180.63 crore at the close of the preceding financial year ended March 31, 2026.

Shares of Vardhman Special Steels Limited was last trading in BSE at Rs. 303.40 as compared to the previous close of Rs. 308.35. The total number of shares traded during the day was 19502 in over 628 trades.

The stock hit an intraday high of Rs. 318.50 and intraday low of 302.75. The net turnover during the day was Rs. 6106392.00.

Source : Equity Bulls

Keywords

VardhmanSpecialSteels INE050M01012 VSSL Q1FY27 Q1FY2027 ResultUpdate