Vardhman Special Steels Q2 FY27 Results: Revenue Jumps 39%, PAT Rises 52%
Vardhman Special Steels reported a strong Q2 FY27 with revenue up 38.81% YoY to ₹600.05 crore and PAT up 51.88% to ₹52.49 crore. Volumes increased to 70,440 tonnes. The company laid the foundation for a new forging facility in Ludhiana with Aichi Steel. H1 FY27 revenue rose 25.41% to ₹1,086.06 crore, with PAT up 72.02% to ₹93.68 crore.
The announcement details strong financial performance with substantial increases in revenue and profit, alongside strategic expansion plans like the new forging facility. This is likely to have a significant positive impact on investor sentiment and the company's market position.
The company has reported significant year-on-year growth in revenue, profit after tax, and earnings per share for both the quarter and half-year ended September 30, 2026. The management commentary highlights strong operational performance and strategic forward integration plans, indicating a positive outlook.
Vardhman Special Steels Limited (VSSL) announced its un-audited financial results for the quarter and half-year ended September 30, 2026. The company reported a significant increase in performance, with revenue from operations for Q2 FY27 reaching ₹600.05 crore, a 38.81% year-on-year increase from ₹432.27 crore in Q2 FY26. Profit After Tax (PAT) for the quarter surged by 51.88% to ₹52.49 crore, compared to ₹34.56 crore in the same period last year. Basic Earnings Per Share (EPS) also saw a substantial rise of 50.42% to ₹5.43 from ₹3.61.
The Chairman & Managing Director, Sachit Jain, highlighted that the strong performance was driven by healthy growth in sales volumes, revenue, and profitability. This was supported by robust customer demand, improved realizations, and better operating leverage. The company also benefited from cost optimization, lower-cost raw material inventory, and the progressive realization of benefits from recent capital expenditures on the Kocks Block and reheating furnace.
A key milestone for the quarter was the foundation stone laying for an upcoming forging facility in Ludhiana, developed in collaboration with Aichi Steel Corporation. This facility marks a step towards forward integration into higher-value forged components, strengthening engagement with automotive customers. The company plans to focus on strengthening core operations, progressing with its greenfield special steel facility, and expanding its value-added product portfolio, with diversification into sectors like railways, oil & gas, and other industrial segments.
For the half-year ended September 30, 2027 (H1 FY27), VSSL reported a 25.41% increase in revenue from operations to ₹1,086.06 crore from ₹865.97 crore in H1 FY26. PAT for H1 FY27 grew by 72.02% to ₹93.68 crore from ₹54.46 crore in H1 FY26. Basic EPS for the half-year increased by 60.43% to ₹9.69.
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