Vardhman Special Steels Ltd (NSE:VSSL)

Q1 2026 Vardhman Special Steels Ltd Earnings Call Transcript

Jul 28, 2025 / 06:30 AM GMT

Release Date Price: ₹250.05 (-3.08%)

Transcript

Key Points

Positve

Vardhman Special Steels Ltd (BOM:534392) successfully commissioned their cog block, which stabilized faster than anticipated, indicating efficient project execution.
The company has become debt-free, with capital infusion largely used to repay existing debt, strengthening its financial position.
A new heating furnace and solar plant are in progress, expected to enhance operational efficiency and reduce costs once commissioned.
The company is planning a Greenfield steel plant with an aggressive schedule, aiming for completion by July 2029, which could significantly increase production capacity.
Vardhman Special Steels Ltd (BOM:534392) has entered into pricing agreements with key OEMs, potentially mitigating future pricing pressures from larger competitors.

Negative

The company is experiencing margin pressure due to pricing cuts by larger competitors, resulting in margins at the lower end of their expected range.
There is an inventory valuation loss of approximately 6 crores due to declining raw material prices, impacting financial performance.
The solar plant project is facing delays due to a court case, which may postpone its commissioning and the associated cost benefits.
The company's EBITDA per ton has decreased by 18% compared to the previous year, primarily due to inventory valuation losses and a production shutdown.
Exports are under pressure, particularly in the Thai market, which could affect the company's international sales performance.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

VARM.NS - Vardhman Special Steels Ltd
Q1 2026 Vardhman Special Steels Ltd Earnings Call
Jul 28, 2025 / 06:30AM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, good day and welcome to Special Streets Q1F 26 earnings conference call hosted by IIFL Capital Services Limited. As a reminder, all participant lines will be in the less only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing 0 on the touchtone phone. Please note that this conference is being recorded.

I now hand the conference over to Mr. Yashupa.

Thank you and over to you, sir.

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Unidentified_2 [2]
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