Vardhman Special Steels Share Price

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Vardhman Special Steels Share Price

286.306.45 (2.31%)

Closed
As On: 23 Jun, 2026, 03:59 PM IST
As On: 23 Jun, 2026, 03:40 PM IST

Sector: Metals - Ferrou...
Industry: Steel - General

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Open	278.15
High	290.00
Low	278.15
Prev Close	279.85
Volume	75,737
VWAP(₹)	285.77

Key Metrics

PE Ratio(x)	22.68
EPS - TTM(₹)	12.62
MCap(₹ Cr.)	2,768.11
MCap Rank	40
PB Ratio(x)	3.39
Div Yield(%)	1.22
Face Value(₹)	10.00
52W High(₹)	324.00
52W Low(₹)	206.40
MCap/Sales	0.92
Beta(1 Month)	2.05
BV/Share(₹)	82.53

Vardhman Special share price insights

Passing Profits to Shareholders
Company has consistently declining ROE in last 5 years. Majority of profits last year were disbursed as dividends to shareholders. (Source: Standalone Financials)
Employee & Interest Expense
Company has spent less than 1% of its operating revenues towards interest expenses and 6.51% towards employee cost in the year ending Mar 31, 2026. (Source: Standalone Financials)
Vardhman Special Share Price Update
Vardhman Special Steels Ltd. share price moved up by 2.31% from its previous close of Rs 279.85. Vardhman Special Steels Ltd. stock last traded price is 286.30
Share Price Value
Today/Current/Last 286.30285.50
Previous Day 279.85280.00

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Vardhman Special Share Price Returns

1 Day	2.31%
1 Month	5.04%
3 Months	29.81%
1 Year	16.1%
3 Years	51.72%
5 Years	168.83%

Vardhman Special Share Recommendations

Recent Recos

Target₹425
OrganizationICICI Direct
BUY

Target₹292
OrganizationICICI Direct
BUY

Target₹300
OrganizationICICI Direct
BUY

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News & Analysis

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Share Analysis

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Financials

	Mar 2025	Dec 2024	Sep 2024	Jun 2024	Mar 2024
Total Income	435.22	433.74	504.11	420.45	448.12
Total Income Growth (%)	0.34	-13.96	19.90	-6.17	10.47
Total Expenses	404.90	400.18	464.06	380.71	399.57
Total Expenses Growth (%)	1.18	-13.77	21.89	-4.72	7.53
EBIT	30.33	33.56	40.05	39.75	48.55
EBIT Growth (%)	-9.64	-16.20	0.77	-18.14	42.49
Profit after Tax (PAT)	19.73	21.46	25.82	26.08	32.79
PAT Growth (%)	-8.04	-16.90	-0.99	-20.47	50.38
EBIT Margin (%)	6.97	7.74	7.95	9.45	10.83
Net Profit Margin (%)	4.53	4.95	5.12	6.20	7.32
Basic EPS (₹)	2.42	2.63	3.17	3.20	4.00

	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025
Total Income	468.37	443.72	443.49	441.20	435.22
Total Income Growth (%)	5.56	0.05	0.52	1.37	0.34
Total Expenses	419.63	395.24	395.09	410.86	404.90
Total Expenses Growth (%)	6.17	0.04	-3.84	1.47	1.18
EBIT	48.75	48.48	48.40	30.33	30.33
EBIT Growth (%)	0.55	0.16	59.56	0.02	-9.64
Profit after Tax (PAT)	33.98	33.59	34.56	19.90	19.73
PAT Growth (%)	1.17	-2.83	73.73	0.83	-8.04
EBIT Margin (%)	10.41	10.93	10.91	6.88	6.97
Net Profit Margin (%)	7.25	7.57	7.79	4.51	4.53
Basic EPS (₹)	3.52	3.48	3.61	2.43	2.42

	FY 2025
Total Revenue	1,793.52
Total Revenue Growth (%)	6.05
Total Expenses	1,668.46
Total Expenses Growth (%)	6.38
Profit after Tax (PAT)	93.09
PAT Growth (%)	1.59
Operating Profit Margin (%)	8.14
Net Profit Margin (%)	5.27
Basic EPS (₹)	11.40

	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Total Revenue	1,796.78	1,793.52	1,691.18	1,773.75	1,397.35
Total Revenue Growth (%)	0.18	6.05	-4.65	26.94	47.08
Total Expenses	1,632.73	1,668.46	1,568.33	1,639.44	1,239.02
Total Expenses Growth (%)	-2.14	6.38	-4.34	32.32	40.21
Profit after Tax (PAT)	122.02	93.09	91.63	100.45	100.75
PAT Growth (%)	31.08	1.59	-8.78	-0.30	127.97
Operating Profit Margin (%)	10.02	8.14	8.50	8.75	12.83
Net Profit Margin (%)	6.95	5.27	5.51	5.78	7.36
Basic EPS (₹)	13.15	11.40	11.26	24.76	24.87

All figures in Rs Cr, unless mentioned otherwise

Insights

Employee & Interest Expense
Company has spent less than 1% of its operating revenues towards interest expenses and 6.51% towards employee cost in the year ending Mar 31, 2026. (Source: Standalone Financials)

Annual	FY 2025
Total Assets	1,135.92
Total Assets Growth (%)	9.26
Total Liabilities	338.00
Total Liabilities Growth (%)	5.52
Total Equity	797.92
Total Equity Growth (%)	10.92
Current Ratio (x)	2.11
Total Debt to Equity (x)	0.15
Contingent Liabilities	206.14

Annual	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Total Assets	1,633.12	1,135.92	1,039.67	1,030.52	920.88
Total Assets Growth (%)	43.77	9.26	0.89	11.91	14.72
Total Liabilities	355.80	338.00	320.31	388.30	365.92
Total Liabilities Growth (%)	5.27	5.52	-17.51	6.12	6.57
Total Equity	1,277.32	797.92	719.35	642.21	554.96
Total Equity Growth (%)	60.08	10.92	12.01	15.72	20.81
Current Ratio (x)	2.90	2.11	2.38	2.18	2.27
Total Debt to Equity (x)	0.07	0.15	0.12	0.22	0.29
Contingent Liabilities	0.00	206.14	130.55	44.47	26.27

All figures in Rs Cr, unless mentioned otherwise

Annual	FY 2025
Net Cash flow from Operating Activities	126.91
Net Cash used in Investing Activities	-126.83
Net Cash flow from Financing Activities	3.03
Net Cash Flow	3.12
Closing Cash & Cash Equivalent	10.76
Closing Cash & Cash Equivalent Growth (%)	40.79
Total Debt/ CFO (x)	0.94

Annual	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Net Cash flow from Operating Activities	105.88	126.91	142.41	73.58	58.88
Net Cash used in Investing Activities	-427.23	-126.83	-50.14	-14.83	-9.11
Net Cash flow from Financing Activities	316.87	3.03	-94.16	-49.48	-51.84
Net Cash Flow	-4.49	3.12	-1.89	9.26	-2.07
Closing Cash & Cash Equivalent	6.27	10.76	7.64	9.54	0.27
Closing Cash & Cash Equivalent Growth (%)	-41.72	40.79	-19.87	3,418.45	-88.42
Total Debt/ CFO (x)	0.88	0.94	0.58	1.94	2.73

All figures in Rs Cr, unless mentioned otherwise

Insights

Increase in Cash from Investing
Company has used Rs 427.23 cr for investing activities which is an YoY increase of 236.86%. (Source: Standalone Financials)

Annual	FY 2025
Return on Equity (%)	11.66
Return on Capital Employed (%)	17.46
Return on Assets (%)	8.19
Interest Coverage Ratio (x)	9.51
Asset Turnover Ratio (x)	1.62
Price to Earnings (x)	17.48
Price to Book (x)	2.04
EV/EBITDA (x)	9.79
EBITDA Margin (%)	10.04

Annual	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Return on Equity (%)	9.55	11.66	12.73	15.64	18.15
Return on Capital Employed (%)	13.50	17.46	18.67	21.41	26.68
Return on Assets (%)	7.47	8.19	8.81	9.74	10.94
Interest Coverage Ratio (x)	17.54	9.51	9.35	10.20	11.72
Asset Turnover Ratio (x)	1.27	1.62	1.61	1.78	1.59
Price to Earnings (x)	16.42	17.48	18.87	16.13	9.18
Price to Book (x)	1.57	2.04	2.40	2.52	1.67
EV/EBITDA (x)	9.75	9.79	10.47	9.73	5.28
EBITDA Margin (%)	11.90	10.04	10.36	10.37	14.80

Insights

Passing Profits to Shareholders
Company has consistently declining ROE in last 5 years. Majority of profits last year were disbursed as dividends to shareholders. (Source: Standalone Financials)

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Technicals

Buy/Sell Signals
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Price Analysis
No Data Available
Pivot Levels
R1 - Pivot
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R2 - S2 -
R3 - S3 -
Average True Range
5 Days 14 Days 28 Days
- - -

Peer Comparison

Ratio Performance

NAME	P/E (x)	P/B (x)	ROE %	ROCE %	ROA %	Rev CAGR [3Yr]	OPM	NPM	Basic EPS	Current Ratio	Total Debt/ Equity (x)	Total Debt/ CFO (x)
Vardhman Special	22.68	3.47	11.66	17.46	8.19	0.43	8.14	5.27	11.40	2.11	0.15	0.94
NMDC Steel	223.24	1.00	0.44	3.50	0.20	0.00	4.12	0.43	0.20	0.53	0.35	2.56
Shivalik Bimetal	46.65	9.29	19.91	25.21	15.07	6.61	22.62	16.20	16.64	3.47	0.12	1.08
Rudra Global Infra	13.23	1.29	9.74	19.74	3.33	11.24	5.37	2.17	1.35	1.32	0.97	4.17
Hisar Metal Ind	24.86	1.28	5.14	12.40	2.06	-1.64	4.36	1.29	6.41	1.78	1.32	8.18
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Shareholding Pattern

Total Shareholdings
Category No. of Shares Percentage % Change QoQ
Promoters 4,93,64,632 51.06 % -0.03
Pledge 0 0.00 % 0.00
FII 5,33,586 0.55 % 0.01
DII 32,24,188 3.34 % 0.04
MF 31,88,350 3.30 % 0.02
Others 4,35,63,272 45.05 % -0.01
QoQ Change
Category Mar 2026 Dec 2025 Sep 2025 Jun 2025
Promoters 51.06 51.10 51.13 60.37
Pledge 0.00 0.00 0.00 0.00
FII 0.55 0.54 0.54 0.58
DII 3.34 3.30 3.63 4.17
Mutual Funds 3.30 3.27 3.60 4.14
Others 45.05 45.06 44.69 34.88

Mutual Funds Ownership

MF Ownership as on 31 May 2026

Tata Small Cap Direct-G
Equity: Small Cap
2
- 63.79
  Amount Invested (in Cr.)
- 0.55%
  % of AUM
- 0.00
  % Change (MoM basis)
ICICI Pru Smallcap Direct-G
Equity: Small Cap
3
- 19.85
  Amount Invested (in Cr.)
- 0.22177738%
  % of AUM
- 0.00
  % Change (MoM basis)
Motilal Oswal BSE 1000 Index Direct-G
Equity: Flexi Cap
- 0.00
  Amount Invested (in Cr.)
- 0.00312676%
  % of AUM
- 1.43
  % Change (MoM basis)

View all Mutual Fund Schemes

Vardhman Special Top Searches

Corporate Actions

Recent
Board Meeting
Quarterly Results
Jan 14, 2026
General Meeting
-
Nov 10, 2025
Board Meeting
Quarterly Results
Oct 16, 2025

Announced on	Meeting on
Jan 14, 2026	Jan 20, 2026
Quarterly Results
Oct 16, 2025	Oct 28, 2025
Quarterly Results
Jul 22, 2025	Jul 25, 2025
Quarterly Results
May 26, 2025	May 29, 2025
Preferential issue of shares
Apr 15, 2025	Apr 22, 2025
Audited Results & Final Dividend

Dividends
Announced on Ex-Date Dividend%
Apr 22, 2025 Sep 12, 2025 30%
May 02, 2024 Sep 06, 2024 20%
Apr 27, 2023 Sep 15, 2023 20%
Apr 29, 2022 Sep 16, 2022 35%
May 14, 2021 Sep 02, 2021 15%
Bonus
Announced on Ex-Date
Apr 12, 2023 May 26, 2023
Bonus Ratio: 1 share(s) for every 1 shares held
Splits
No Data Available
Rights
Announced on Ex-Date
Oct 14, 2016 Apr 07, 2017
Rights ratio: 2 share for every 3 held at a price of Rs 50.0
AGM/EGM Meetings
Announced on Meeting on
Nov 10, 2025 Dec 12, 2025
-
Sep 03, 2025 Sep 24, 2025
-
Jun 03, 2025 Jun 25, 2025
-
Nov 13, 2024 Dec 15, 2024
-
Aug 30, 2024 Sep 19, 2024
Rs.2.0000 per share(20%)Final Dividend & A.G.M.

About Vardhman Special

Vardhman Special Steels Ltd., incorporated in the year 2010, is a Small Cap company (having a market cap of Rs 2,768.11 Crore) operating in Metals - Ferrous sector.

Vardhman Special Steels Ltd. key Products/Revenue Segments include Bars (Steel), By Products and Export Incentives for the year ending 31-Mar-2025.

For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 435.22 Crore, up .34 % from last quarter Total Income of Rs 433.74 Crore and down 2.88 % from last year same quarter Total Income of Rs 448.12 Crore. Company has reported net profit after tax of Rs 19.73 Crore in latest quarter.

The company’s top management includes Mr.Rajeev Gupta, Mr.Sachit Jain, Mr.Rajendar Kumar Rewari, Ms.Soumya Jain, Mr.Rajinder Kumar Jain, Mrs.Suchita Jain, Mr.Toshio Ito, Mr.Hemant Bharat Ram, Mr.Rakesh Jain, Mr.Randhir Singh Kalsi, Mr.Sanjoy Bhattacharyya, Mr.Suman Chatterjee, Mrs.Vidya Shah, Mr.Koichiro Hayashida, Mr.Sanjeev Singla, Mrs.Sonam Dhingra. Company has BSR & Co. LLP as its auditors. As on 31-03-2026, the company has a total of 9.67 Crore shares outstanding.

Vardhman Special Share Price Today is Rs. 286.30. On previous day, the Vardhman Special Share Price (NSE) closed at Rs. 281.55, featuring among the most traded securities on the National Stock Exchange.

Shareholdings:
As of 31st Mar, 2026, the promoter held 51.06% of the stake in Vardhman Special shares, out of which 0.0% was pledged. On the same date, foreign institutional investors' (FII) holdings of Vardhman Special stocks was 0.55% as compared to 0.54% in Dec 2025 with increase of 0.01%. The domestic institutional investors (DII) holdings on 31st Mar, 2026 was 3.34% as compared to 3.3% in Dec 2025 with increase of 0.04%. Out of the total DII holdings in Vardhman Special shares 3.3% was held by mutual funds. The rest including public held is 45.05%. Vardhman Special stock price is reflected on both the exchanges - BSE and NSE.

Dividend, Bonus & Split Information:
Vardhman Special Dividend: Ever since 2010, Vardhman Special dividends has been paid out around 6 times. As on 23 Jun, 2026, 03:59 PM IST, The overall dividend yield for Vardhman Special stands at 1.25%. The last dividend paid was on September 12, 2025 (Rs. 3.0). The Earnings Per Share (EPS) for quarter ending 31st Mar 2026 is Rs. 12.62.

Vardhman Special Bonus: The most recent bonus issue had been in year May 26, 2023 around 3 years ago at 1 : 1 ratio. The first bonus issue was announced in Apr 2023.

Stock Forecast:
After showing 468.37 Cr. of sales and 5.56% of quarterly net profit, there have been multiple ups and downs in the Vardhman Special stock prices in the past few weeks. For example, Vardhman Special stock price on 15th of June 2026 was around Rs. 284.65. Vardhman Special share price now stands at an average of Rs. 286.30. Judging by last week's performance, stock is in down trend.

Vardhman Special has a median target price of Rs. 0.0 in 12 months by 0 analysts. They have provided a high estimate of Rs. 0.0 and low estimate of Rs. 0.0 for Vardhman Special share.

Historical Prices and Performance:
Vardhman Special, incorporated in 2010 is a Small Cap company (with a market cap of Rs. 2705.75) operating in Metals - Ferrous sector.
The Return of Equity (ROE) in last five financial years given by Vardhman Special stock was 9.55%, 11.66%, 12.73%, 15.64% and 18.15% respectively.
The Vardhman Special share gave a 3 year return of 45.34% as compared to Nifty 50 which gave a return of 28.4%.
Vardhman Special announced 30.0% final dividend on September 12, 2025.

Key Metrics:
PE Ratio of Vardhman Special is 22.17
Prices/Sales Ratio of Vardhman Special is 0.92
Price/Book Ratio of Vardhman Special is 3.39

Peer Insights:
Peers are businesses with comparable activities, buisness objectives and affiliation with a particular industry area. For Vardhman Special, major competitors and peers include NMDC Steel, Shivalik Bimetal, Rudra Global Infra and Hisar Metal Ind. As of Dec 2025, the dividend yield of Vardhman Special stands at 1.25% while NMDC Steel, Shivalik Bimetal, Rudra Global Infra and Hisar Metal Ind stand at 0.0%, 0.36%, 0.0% and 0.63% respectively. The PE ratio and PB Ratio of the company are among its competitors stand at 22.17 and 3.39 respectively.

Leadership of Vardhman Special :
Sonam Dhingra is Co. Secretary & Compl. Officer
Sanjeev Singla is Chief Financial Officer
Rajeev Gupta is Chairman
Sachit Jain is Vice Chairman & Mng.Director
Rajendar Kumar Rewari is Executive Director
Soumya Jain is Executive Director
Rajinder Kumar Jain is Non Executive Director
Toshio Ito is Non Executive Director
Suchita Jain is Non Executive Director
Vidya Shah is Independent Director
Rakesh Jain is Independent Director
Sanjoy Bhattacharyya is Independent Director
Suman Chatterjee is Independent Director
Hemant Bharat Ram is Independent Director
Randhir Singh Kalsi is Independent Director
Koichiro Hayashida is Addnl.Non Executive Director

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Industry

Steel - General

Key Indices Listed On

BSE SmallCap, BSE Industrials, BSE AllCap, BSE Next 250 Microcap, BSE NEXT 500

Address

Vardhman Premises,Chandigarh Road,Ludhiana, Punjab - 141010

Contact

secretarial.lud@vardhman.com

http://www.vardhmansteel.com

Executive Leadership

RG

Rajeev Gupta

Chairman

SJ

Sachit Jain

Vice Chairman & Mng.Director

RK

Rajendar Kumar Rewari

Executive Director

SJ

Soumya Jain

Executive Director

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Auditors

BSR & Co. LLP

FAQs about Vardhman Special share

1. What's the Vardhman Special share price today?
Vardhman Special share price is Rs 286.30 as on 23 Jun, 2026, 03:59 PM IST. Vardhman Special share price is up by 2.31% based on previous share price of Rs 279.85. Vardhman Special share price trend:
- Last 3 Years: Vardhman Special Share price moved up by 51.72%
2. What's the market capitalization of Vardhman Special?
Vardhman Special share has a market capitalization of Rs 2,768.11 Cr. Within Metals - Ferrous sector, it's market cap rank is 40.
3. What are the returns for Vardhman Special share?
Return Performance of Vardhman Special Shares:
- 1 Week: Vardhman Special share price moved up by 0.85%
4. What has been highest price of Vardhman Special share in last 52 weeks?
52 Week high of Vardhman Special share is Rs 324.00 while 52 week low is Rs 206.40
5. What is the PE & PB ratio of Vardhman Special?
The PE ratio of Vardhman Special stands at 22.68, while the PB ratio is 2.17.

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