Vardhman Special Steels Ltd (VSSL) — shareholding pattern, promoter holding, financials and share price
About Vardhman Special Steels Ltd (VSSL)
Vardhman Special Steels Ltd operates in the Iron & Steel Products industry, within the Capital Goods sector. It trades on the NSE as VSSL and on the BSE under scrip code 534392. Its ISIN is INE050M01012.
Vardhman Special Steels is engaged in manufacturing of Billets, Steel bars & Rods and Bright Bars of various categories of special and alloy steels.
Vardhman Special Steels Limited is a leading manufacturer of special steels, primarily serving the automotive sector in India. The company has announced a massive ₹475 crore investment to develop a steel forging and machining facility, signifying a strategic foray into automotive components. Its technical collaboration with Aichi Steel Corporation aims to uplift quality to international standards, making Vardhman a formidable player in the realm of special steels for automotive applications. With an increase in EBITDA and PAT by 34.28% and 56.53% YoY respectively, the company is on a solid growth trajectory. Additionally, a closed-loop steel recycling initiative with Maruti Suzuki aligns Vardhman with sustainable practices and signals a commitment towards a circular economy.
Listed peers in Iron & Steel Products: Sambhv Steel Tubes Ltd, Welspun Specialty Solutions Ltd, JTL Industries Ltd, MSP Steel & Power Ltd, Rhetan TMT Ltd, Hi-Tech Pipes Ltd.
Valuation & Returns
10 Jul 2026At ₹276.35 a share on 10 Jul 2026, Vardhman Special Steels Ltd (VSSL) was valued at a price-to-earnings ratio of 28.7x against an industry P/E of 37x and a price-to-book of 3.35x on a book value of ₹82.53 per share as of Mar 2025. Solomo computes return on equity of 11.67% and return on capital employed of 15.65% from filed results. Earnings ratios use consolidated results for the twelve months Jun 2024 to Mar 2025.
- P/E
- 28.7x
- Industry P/E
- 37x
- P/B
- 3.35x
- EPS (TTM)
- ₹9.63
- Book value / share
- ₹82.53
- ROE
- 11.67%
- ROCE
- 15.65%
- ROA
- 8.2%
- Debt / equity
- 0.15x
- Dividend yield
- 1.09%
- EBITDA margin
- 10.04%
- 52-week range
- ₹205.65 – ₹322.35
Ratios are computed from filed results and the last recorded price. Not investment advice.
Financial Performance
Mar 2025In the year ended Mar 2025, Vardhman Special Steels Ltd (VSSL) reported revenue of ₹1,764 crore, net profit of ₹93 crore and earnings per share of ₹11.39. That compares with revenue of ₹1,661 crore and net profit of ₹92 crore in Mar 2024. Figures are consolidated, as filed with the exchanges.
In the quarter ended Mar 2025, revenue was ₹428 crore and net profit ₹20 crore (consolidated).
| Metric | Mar 2024 | Mar 2025 |
|---|---|---|
| Revenue (₹ cr) | 1,661 | 1,764 |
| Net profit (₹ cr) | 92 | 93 |
| EPS (₹) | 11.25 | 11.39 |
| Measure | 10Y | 5Y | 3Y | 1Y |
|---|---|---|---|---|
| Sales growth | 10.38% | 15.83% | 8.84% | 6.20% |
| Profit growth | 41.03% | 94.55% | -2.60% | 1.59% |
| Stock price CAGR | 28% | 20% | 16% | 12% |
Ownership Summary
Jun 2026As of Jun 2026, promoters hold 51.06% of Vardhman Special Steels Ltd (VSSL) (unchanged from the previous quarter), foreign institutional investors (FII) hold 0.55% and domestic institutional investors (DII) hold 3.27%. Market capitalisation was ₹2,672 crore on 10 Jul 2026. Shareholding is filed quarterly with BSE and NSE; Solomo carries every filing back to Mar 2012.
Largest disclosed public shareholders in Jun 2026: AICHI STEEL CORPORATION 24.85%, TATA MUTUAL FUND - TATA SMALL CAP FUND 2.46%, DEEP J MASTER 2.07%, CATAMARAN VENTURES LLP 1.02%. Only stakes above the 1% disclosure threshold are named in filings.
| Quarter | Promoter | Pledged | FII | DII | Public |
|---|---|---|---|---|---|
| Jun 2026 | 51.06% | - | 0.55% | 3.27% | 48.94% |
| Mar 2026 | 51.06% | - | 0.55% | 3.34% | 48.94% |
| Dec 2025 | 51.1% | - | 0.54% | 3.31% | 48.9% |
| Sep 2025 | 51.13% | - | 0.55% | 3.64% | 48.87% |
| Jun 2025 | 60.37% | - | 0.58% | 4.18% | 39.63% |
| Mar 2025 | 60.37% | - | 0.65% | 4.17% | 39.63% |
| Dec 2024 | 60.49% | - | 0.58% | 4.51% | 39.51% |
| Sep 2024 | 60.53% | - | 0.6% | 3.85% | 39.47% |