Vardhman Special Steels Ltd

Vardhman Special Steels Ltd

The Emerging Companies 2025
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OVERVIEW
FINANCIALS

About

Vardhman Special Steels Limited, part of the Vardhman Group, is a leading manufacturer of special and alloy steels in India. The company produces billets, steel bars, rods, and bright bars catering to sectors like automotive, engineering, tractors, and bearings. With a melting capacity of 250,000 MTPA and an integrated rolling mill of 200,000 MTPA, Vardhman Special Steels emphasizes safety, quality, productivity, cost-effectiveness, and customer satisfaction.

Incorporation Year: 2010
Headquarters: Ludhiana, Punjab
Top Management: Mr. Sachit Jain (Vice Chairman & Managing Director)
Industry: Metals

Featured In Fortune India Ranking

#36(2025)
Next 500 India
#306(2024)#250(2023)#285(2022)#404(2021)#198(2020)#306(2019)#431(2016)
#306(2024)#250(2023)#285(2022)#404(2021)#198(2020)#306(2019)#431(2016)
Ranking Trend Fortune Next 500 India

Financial Data 2024

Revenue
1,712
(INR Cr)
Net Operating Income
1,661
(INR Cr)
Assets
806
(INR Cr)
Profit
92
(INR Cr)
Net Worth
719
(INR Cr)

Financial Data

RevenueNet Operating IncomeProfitAssetsNet Worth
PARAMETERS20242023202220212020201920182017201620152014201320122011
Revenue
(INR Cr)
1712
-5.5%
1811
20.9%
1498
55.6%
962
35.3%
711
-44.7%
1285
45.3%
884
28.0%
691
10.5%
625
-6.7%
671
31.6%
510
7.0%
476
-9.9%
528
335.0%
121
-
Net Operating Income
(INR Cr)
1661
-4.24%
1735
26.78%
1368
46.03%
937
10.74%
846
-24.50%
1121
30.48%
859
27.48%
674
3.23%
653
-1.34%
662
78.52%
371
-16.76%
445
-15.10%
524
363.85%
113
0.00%
Profit
(INR Cr)
92
-8.8%
100
-0.3%
101
128.0%
44
1223.1%
3
-85.0%
22
-11.3%
25
30.8%
19
353.6%
4
-
-15
-
-9
-
5
-81.3%
26
272.1%
7
-
Assets
(INR Cr)
806
2.2%
789
9.6%
719
10.3%
652
-4.3%
682
-2.2%
697
22.6%
568
10.3%
515
-0.5%
517
-0.7%
521
8.3%
481
-4.3%
503
15.6%
435
94.3%
224
-
Net Worth
(INR Cr)
719
12.0%
642
15.7%
555
20.8%
459
11.1%
414
14.3%
362
6.7%
339
71.3%
198
10.6%
179
5.6%
170
-8.6%
186
-4.8%
195
2.6%
190
15.8%
164
0.0%
Employee Cost
(INR Cr)
96
7.0%
90
11.1%
81
35.9%
60
23.9%
48
-6.2%
51
9.8%
47
17.4%
40
18.1%
34
18.8%
28
33.4%
21
-0.3%
21
-5.3%
23
545.0%
3
-
Interest Cost
(INR Cr)
18181720262421282320121171
Cash & Bank Balance
(INR Cr)
81016522076491430875
Total Debt
(INR Cr)
8414416219126633422831633835029530724459

Key Financial Ratios

Profit As % Of RevenuesRONW %Interest Cost to EBITDA %ROCE %Debt to Equity Ratio
PARAMETERS20242023202220212020201920182017201620152014201320122011
Profit As % Of Revenues 5.4%5.6%6.7%4.6%0.5%1.7%2.8%2.8%0.7%--1.0%4.9%5.7%
Profit As % Of Assets 11.4%12.7%14.0%6.8%0.5%3.2%4.4%3.7%0.8%--1.0%6.0%3.1%
Profit As % Of Networth 12.7%15.6%18.2%9.6%0.8%6.1%7.4%9.7%2.4%--2.5%13.6%4.2%
Interest Cost to EBITDA % 12.9%12.5%10.0%19.1%64.8%34.9%34.6%47.3%55.3%174.8%-61.6%13.2%8.3%
Debt to Equity Ratio 0.120.220.290.410.640.920.671.601.882.061.591.571.280.36
RONW 13.5%16.8%19.9%10.1%0.5%6.3%8.6%10.2%3.0%--1.8%14.6%4.6%
ROCE 17.7%20.2%25.6%12.9%3.2%7.2%8.1%9.2%5.4%-0.1%-3.0%3.5%14.6%5.7%