India · Delayed Price · Currency is INR Vardhman Special Steels Earnings Call Transcripts
Fiscal Year 2027
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Quarterly revenue rose 12% year-over-year to INR 486 crore, with PAT up 10.7% sequentially. Strong demand, capacity expansion plans, and new product lines in non-automotive and green steel segments are set to drive future growth and margin improvement.
Fiscal Year 2026
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Record profit and volumes achieved in FY 2026, with EBITDA per ton guidance raised for the coming years. Major CapEx and capacity expansions are underway, with a strategic shift toward non-automotive and advanced alloys planned over the next decade.
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Q3 FY26 saw record nine-month PAT and higher sales volumes, with robust demand and ongoing major CapEx projects including a forging plant and new steel plant. EBITDA guidance was raised, and the company is targeting significant expansion and diversification, supported by strong shareholder backing.
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Revenue declined 12.6% year-over-year due to lower volumes and prices, but EBITDA rose 16% on cost savings and reduced finance costs. Capacity expansions, green initiatives, and a deepened Aichi partnership position the company for future growth, with FY27 volume targeted at 245,000 tons.
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Q1 FY26 saw 10% volume and 5% revenue growth, but margins were pressured by pricing and inventory losses. Major CapEx projects are progressing, Aichi raised its stake to 24.9%, and the company is entering the forging business. Green steel leadership and strong domestic demand support a positive outlook.