Latest News

Vardhman Special Steels Limited (VSSL) provided an update on its investment in Sone Solar Private Limited, in continuation to its intimation dated 7 February 2025.

• On 12 May 2025, the Company made a further investment of ₹3,66,54,310 in Sone Solar Private Limited.
• This investment is towards part payment of the second tranche and comprises 29,79,460 equity shares and 6,85,971 0.5% Compulsory Convertible Debentures (CCDs), each with a face value of ₹10.
• With this latest investment, the aggregate investment of the Company in the equity shares and 0.5% Compulsory Convertible Debentures of Sone Solar Private Limited now stands at ₹11,32,07,750.
• The Company's shareholding in the equity share capital of Sone Solar Private Limited remains unchanged at 26%.

• Financial Performance (Q4 FY25 vs Q4 FY24): Revenue from Operations decreased by 2.59% to ₹428.04 crore. PAT declined by 39.83% to ₹19.73 crore. EBITDA stood at ₹38.62 crore, down 32.89%. Volumes increased by 3.29% to 53,834 tonnes, despite a 14-day plant shutdown.
• Financial Performance (FY25 vs FY24): Revenue from Operations increased by 6.20% to ₹1,764.41 crore. PAT grew by 1.59% to ₹93.09 crore. EBITDA increased by 2.84% to ₹177.16 crore. Volumes for the full year increased by 12.80% to 2,19,996 tonnes.
• Management Commentary: Market demand remains muted, limiting price increase opportunities. Raw material prices are relatively stable. Working capital borrowings increased due to inventory build-up for the shutdown but are starting to normalize. Long-term borrowings have been reduced to ₹3.29 crore and will be brought down further. The Kocks Block has been commissioned and is in stabilization, expected to enhance productivity and reduce inventory.
• Greenfield Capex Announcement: The company announced setting up a new greenfield steel plant in Punjab for manufacturing special and alloy steel. The planned capacity is 5,00,000 MT per annum of billet production with commensurate Rolling Mill and testing facilities. The total estimated capital expenditure is approximately ₹2,000 crore, to be funded through a mix of internal accruals, equity, and debt. The new capacity is expected to be commissioned by FY 2029-30. This project aims to address expected capacity shortages post-2028, align with Green Steel trends, meet higher quality standards, reduce manufacturing costs, and enable diversification into new product segments like wire rods, forging, and the non-automotive sector.
• Dividend: The company announced a dividend of ₹3 per share for FY25, compared to ₹2 in FY24.
• Authorized Share Capital: Authorized Share Capital increased from ₹60 crore to ₹100 crore post the bonus share issue.

• Vardhman Special Steels Limited (VSSL) declared audited financial results for the year ended 31 March 2025.
• The Board of Directors, in its meeting held on 22 April 2025, recommended a dividend of ₹3 per equity share.
• Key Financial Highlights for FY25 (Standalone):
  • Revenue from operations: ₹1,76,440.83 lakhs
  • Total Income: ₹1,79,352.31 lakhs
  • Net Profit after Tax: ₹9,308.81 lakhs
• Key Financial Highlights for FY25 (Consolidated):
  • Revenue from operations: ₹1,76,440.83 lakhs
  • Total Income: ₹1,79,352.31 lakhs
  • Net Profit after Tax: ₹9,308.81 lakhs
• Dividend payment is subject to shareholder approval at the Annual General Meeting and will be tentatively paid within five days of the AGM.