Vardhman Special Steels Limited · NSE:VSSL
Vardhman Special Steels — Q1 FY27 Earnings Presentation
32 slides from Vardhman Special Steels's earnings presentation, Jul 22, 2026
Slide 1: Vardhman Special Steels Limited
@) | Vardhman VARDHMAN SPECIAL STEELS LIMITED Delivering Excellence. Since 1965. CHANDIGARH ROAD Vardhman LUDHIANA-141010, PUNJAB T: +91-161-2228943-48 F: +91-161-2601048 E: secretarial.lud@vardhman.com Ref. VSSL:SCY:JUL:2026-27 Dated: 22.07.2026 BSE Limited, The National Stock Exchange of India Ltd
Slide 2: This presentation has been prepared by Vardhman Special Steels Limited (the “Company”) solely for
This presentation has been prepared by Vardhman Special Steels Limited (the “Company”) solely for information purposes and does not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any cont
Slide 3: Disclaimer
Disclaimer This presentation has been prepared by Vardhman Special Steels Limited (the “Company”) solely for information purposes and does not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection wi
Slide 4: Table of Contents
Table of Contents 01 02 03 04 Financial Company Business Way Highlights Overview Overview Ahead
Slide 5: Financial Highlights
0. 01 Financial Highlights ey, ee ////
Slide 6: Management's Message
Management’s Message “ “We have commenced FY27 on a strong note, delivering healthy growth in production, revenues and profitability. Our performance during the quarter was driven by sustained demand across key customer segments, improved operating efficiencies and better realizations following pric
Slide 7: Financial Highlights Q1 FY27
Financial Highlights Q1 FY27 INR Crore Q1 FY27 Q1 FY26 Y-o-Y % Q4 FY26 Revenue From Operations 486.01 433.70 12.06% 457.92 • Volumes for Q1 FY27 stood at 59,103 Other Income 9.86 7.50 10.46 tonnes as against 55,574 tonnes in Q1 Total Income 495.86 441.20 12.39% 468.37 FY26 Cost of Materials Consumed
Slide 8: Financial Highlights FY26
Financial Highlights FY26 INR Crore FY26 FY25 Y-o-Y % Volumes for FY26 stood at 2,25,620 Revenue From Operations 1,754.43 1,764.41 (0.57)% tonnes as against 2,15,843 (only rolled Other Income 42.35 29.11 products) tonnes in FY25 Total Income 1,796.78 1,793.52 0.18% Cost of Materials Consumed 974.39
Slide 9: Balance Sheet Highlights
Balance Sheet Highlights INR Crore As on 31st Mar’26 As on 31st Mar’25 INR Crore As on 31st Mar’26 As on 31st Mar’25 Equity 1,277.32 797.91 Non-Current Assets 677.73 474.76 Equity Share Capital 96.69 81.73 Property Plant & Equipment 584.76 308.29 Other Equity 1,180.63 716.18 Capital work in progress
Slide 10: Company Overview
02 Company Overview Sec) ee ////
Slide 11: About Us
About Us Specialized Product offerings – 200+ Reputed and long-term customers Strong Domestic & International ▪ Steel Bars and Rods and Bright Bars ▪ Toyota, Hero Moto Corp, Caterpillar, Hino Customer Base for forging applications of various categories of Special & Motors, Maruti, Bajaj and Hyundai,
Slide 12: Journey So Far…
Journey So Far… • 1973 – Started as Oswal Steels - 50,000 • 1995 – Installed modern Steel Melting • 2001 - Strengthened product portfolio TPA capacity of special & alloy steels Shop with Electromagnetic Stirrer – added Bright Bar Facility 1973- 2011 • 1986 - Acquired Mohta Alloys • 2000 – Commission
Slide 13: Strong Experienced Board of Directors
Strong Experienced Board of Directors Mr. Sachit Jain Mrs. Suchita Jain Chairman & MD Non-Executive Director • B. Tech (Electrical) - IIT, New Delhi, MBA (Gold medallist) - IIM, • Master’s degree in Commerce from Punjab University, Chandigarh Ahmedabad and Owner/President Management Program – Harvar
Slide 14: Strong Experienced Board of Directors
Strong Experienced Board of Directors Mrs. Vidya Shah Mr. Rakesh Jain Independent Director Independent Director • MBA from Indian Institute of Management, Ahmedabad • Ph.D. in Polymers from University of Akron • 11 years of career in investment banking - ICICI, Peregrine and NM • Worked in Advanced
Slide 15: Business Overview
-@. 03 Business Overview Gaeae ee ////
Slide 16: Wide Range of Rolled & Bright Bar Products
Wide Range of Rolled & Bright Bar Products Hot Rolled Bars Bright Bars ▪ Diameter Size : ▪ Size : 14.66 to 78 Increased from 25- mm (Peeled), 18 70 MM in 2012 to to 55.25 mm 16-120 MM (Drawn)
Slide 17: Diverse Applications of Our Products
Diverse Applications of Our Products Axle Gears Stabilizer Bar Knuckle Spindle Piston Connecting Rod Camshaft Center Velocity Joint Crankshaft Differential Gears Transmission Gear Drive-Shaft Tie-Rod Bearings Companion-flange Axle Shaft Piston-Pin Steering-Yoke Steering Shaft
Slide 18: State of Art Manufacturing Facilities
State of Art Manufacturing Facilities Steel Melting Shop Rolling Mill Bright Bars Annual Capacity : 3,00,000 TPA Annual Capacity : 2,70,000 TPA Annual Capacity : 48,000 TPA • 35 MT Ultra High Power (UHP) • Rolling Mill installed in 2013-14 ▪ Bar Peeling & Centreless Grinding Eccentric Bottom Tapping
Slide 19: Process Flow
Process Flow 35 TON ELECTRIC ARC FURNACE
Slide 20: Steel Melt Shop
Steel Melt Shop Electric Arc Furnace Two Ladle Refining Furnace Continuous Casting Machine Vacuum Degassing
Slide 21: Rolling Mill & Bright Bars
Rolling Mill & Bright Bars Re-Heating Furnace Spherodizing & Annealing Machines Rolling Mill Bright Bar Shop
Slide 22: Automatic Line of Bar Inspection NDT Line
Automatic Line of Bar Inspection NDT Line Straightening Chamfering MFLT Shot UST Straightness : Bar ends free from Acceptance Criteria: Blasting Acceptance Criteria: 2mm / meter Burr 0.2x10mm SDH - 0.8x10mm, FBH - 0.8 & 1.2mm
Slide 23: Best in Class R&D Facility
Best in Class R&D Facility ▪ Spectrometer: ARL 4460:1454 for Chemical Analysis. Can check 32 different elements ▪ CS - 230 : Analyzer for Carbon & Sulfur content in steel ▪ LECO gas analyzer: TC 600 H2, N2, O2 Analyzer ▪ Mobile Spectro and XRF for Mix up Testing of Bars ▪ Mechanical and Metallurgica
Slide 24: Strategically Located Warehousing Facilities
Strategically Located Warehousing Facilities Bilaspur One Owned Warehouse Rudrapur ▪ Bilaspur Haryana Five Leased Warehouses in India ▪ Bangalore Aurangabad ▪ Chennai ▪ Rudrapur Pune ▪ Pune ▪ Aurangabad Bangalore Chennai
Slide 25: Key Strengths
Key Strengths Rich Management Experience State of Art Manufacturing Facilities Diversified Product offerings and advanced R&D Capabilities ▪ Dynamic & rich experience in special steel ▪ Manufactures diverse range of products sector ▪ Well equipped with latest upgraded with wide applications across s
Slide 26: 200+ Reputed & Long Term Customers
200+ Reputed & Long Term Customers.... Cars Two Wheelers HCL/LCVs Auto Components Tractors Off Highway Vehicles
Slide 27: Across Globe With Customer Base
....Across Globe With Customer Base 8%* of FY26 sales from Exports *Includes exports to Aichi Forge, Thailand, through its trading arm in India
Slide 28: Way Ahead
04 Way Ahead
Slide 29: Beyond Automotive - Building a Supermarket of Special Steels
Beyond Automotive - Building a Supermarket of Special Steels A decade-long pivot from single-sector dependence to a diversified specialty steel franchise — enabled by new casting technology and phased entry into non-automotive sectors. TRANSFORMATION JOURNEY Portfolio Mix — Revenue by End-Market STA
Slide 30: Forging - The Next Value-Add Engine
Forging - The Next Value-Add Engine Forward integration from steel bars to finished automotive components, in partnership with Aichi Steel — a scalable, multi-line growth engine. FORWARD INTEGRATION VALUE CHAIN FORWARD INTEGRATION · commissioning Q3 FY28 Melting & Scrap Sourcing Steel Bar Forging Li
Slide 31: Investing in Our Real Assets
Investing in Our Real Assets Centre for Creative Leadership ‘Manav Vikas Kendra’ Leadership Training Program ▪ Special Training Program for Senior ▪ CCL - US based ▪ Training programs – Management Organisation – offers functional, attitudinal, leadership programs across 160 skill development, ▪ Mr.
Slide 32: Thank You
Thank You For further information, please contact ! 534392 VSSL Company Vardhman Special Steels Limited VSSL IN VARM.BO Mr. Sanjeev Singla sanjeevsingla@vardhman.com www.vardhmansteel.com Investor Relations Advisors Adfactors PR Pvt. Ltd. Mr. Mohit Upadhyay Mrs. Disha Shah +91 9664235903 +91 9699060
Vardhman Special Steels — Q1 FY27 Earnings Presentation on 6ix