Vardhman Special Steels Income Statement

Financials in millions INR. Fiscal year is April - March.

Millions INR. Fiscal year is Apr - Mar.

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar '26 Mar 31, 2026	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022
Revenue	17,544	17,644	16,614	17,350	13,685
Revenue Growth (YoY)	-0.56%	6.20%	-4.24%	26.78%	46.03%
Cost of Revenue	12,265	11,136	10,392	11,283	8,180
Gross Profit	5,279	6,508	6,221	6,067	5,505
Selling, General & Admin	1,143	1,046	973.71	910.52	817.19
Other Operating Expenses	2,048	3,721	3,554	3,412	2,722
Operating Expenses	3,519	5,102	4,838	4,603	3,809
Operating Income	1,760	1,406	1,383	1,464	1,696
Interest Expense	-119.06	-178.03	-175.42	-165.28	-164.97
Interest & Investment Income	-	15.21	14.85	12.78	69.1
Currency Exchange Gain (Loss)	-	1.25	-7.26	41.46	-10.04
Other Non Operating Income (Expenses)	-	-8.24	-8.79	-11.25	-7.83
EBT Excluding Unusual Items	1,640	1,237	1,207	1,342	1,582
Gain (Loss) on Sale of Investments	-	13.36	21.79	1.42	1.23
Gain (Loss) on Sale of Assets	-	-1.64	-2.8	-0.13	0.37
Asset Writedown	-	-	-	-	-2.41
Other Unusual Items	-	2.39	2.85	0.23	1.76
Pretax Income	1,640	1,251	1,229	1,343	1,583
Income Tax Expense	420.26	319.73	312.3	338.58	575.85
Net Income	1,220	930.88	916.28	1,004	1,008
Net Income to Common	1,220	930.88	916.28	1,004	1,008
Net Income Growth	31.08%	1.59%	-8.78%	-0.30%	127.97%
Shares Outstanding (Basic)	93	82	82	81	81
Shares Outstanding (Diluted)	93	82	82	82	82
Shares Change (YoY)	13.54%	-0.17%	0.50%	0.04%	0.80%
EPS (Basic)	13.15	11.40	11.24	12.35	12.43
EPS (Diluted)	13.13	11.37	11.18	12.31	12.36
EPS Growth	15.48%	1.70%	-9.18%	-0.36%	126.08%
Free Cash Flow	-1,367	80.8	744.43	447.87	235.8
Free Cash Flow Per Share	-14.71	0.99	9.08	5.49	2.89
Dividend Per Share	3.500	3.000	2.000	1.000	1.750
Dividend Growth	16.67%	50.00%	100.00%	-42.86%	133.33%
Gross Margin	30.09%	36.89%	37.45%	34.97%	40.23%
Operating Margin	10.03%	7.97%	8.33%	8.44%	12.39%
Profit Margin	6.96%	5.28%	5.51%	5.79%	7.36%
Free Cash Flow Margin	-7.79%	0.46%	4.48%	2.58%	1.72%
EBITDA	2,088	1,739	1,691	1,743	1,964
EBITDA Margin	11.90%	9.86%	10.18%	10.05%	14.35%
D&A For EBITDA	328.67	332.91	307.91	279.17	267.44
EBIT	1,760	1,406	1,383	1,464	1,696
EBIT Margin	10.03%	7.97%	8.33%	8.44%	12.39%
Effective Tax Rate	25.62%	25.57%	25.42%	25.21%	36.37%
Revenue as Reported	17,968	17,935	16,912	17,737	13,974

Source: S&P Global Market Intelligence. Standard template. Financial Sources.