Vardhman Special Steels share price
NSE: VSSLBSE: 534392Industrial ProductsSmall Cap
Vardhman Special Steels Limited · Face value ₹10 Face value. The nominal value of one share as the company issued it, the unit its share capital is counted in and a dividend can be stated as a percentage of; it has no link to the share price. Face value in the glossary · Listed May 2012
Last close ₹364.10up ₹20.35 (5.92%)BSE ₹364.75
Share price at the NSE close on 27 Oct 2026. Previous close ₹343.75.
27 Oct: open ₹347.20, high ₹398.90, low ₹343.20
52-week range of traded prices to 27 Oct 2026
₹206.40Low, 30 Mar 2026₹428.25High, 17 Sep 2026
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹3,521 Cr1,063rd largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 21.84
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 2.63
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 0.96%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 12.7%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 12.1%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Sep 2026.
- 0.12
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 16,37,00713.1% delivered
Results
Standalone, as consolidated accounts are on record for only 1 of the last ten years; ₹ crore.Vardhman Special Steels quarterly results
- Revenue growth, 12 monthsRevenue growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +14.7%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +68.6%
Quarter to Sep 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹600 Crup 23.47%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹52 Crup 27.46%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 8.7%
Revenue by quarter
Peak revenue ₹600 Cr, quarter to Sep 2026; lowest ₹427 Cr, quarter to Dec 2024
Net profit by quarter, a loss in red
| ₹ crore | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 427 | 428 | 434 | 432 | 431 | 458 | 486 | 600 |
| Net profit | 21 | 20 | 20 | 35 | 34 | 34 | 41 | 52 |
| Net margin | 5.0% | 4.6% | 4.6% | 8.0% | 7.8% | 7.4% | 8.5% | 8.7% |
Standalone. The last eight quarters. The latest is shaded.
Year to Mar 2026, against the year before
- RevenueRevenue. The pill is the change in revenue against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹1,754 Crdown 0.57%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹122 Crup 31.08%
- Net margin
- 7.0%
Revenue by year
Peak revenue ₹1,764 Cr, year to Mar 2025; lowest ₹753 Cr, year to Mar 2017
Net profit by year, a loss in red
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 753 | 878 | 1,121 | 846 | 937 | 1,368 | 1,735 | 1,661 | 1,764 | 1,754 |
| Net profit | 19 | 25 | 22 | 3 | 44 | 101 | 100 | 92 | 93 | 122 |
| Net margin | 2.5% | 2.9% | 2.0% | 0.4% | 4.7% | 7.4% | 5.8% | 5.5% | 5.3% | 7.0% |
Standalone. Years to March. The latest is shaded.
Business segments
In the year to Mar 2026 the company reports one business segment, Manufacturing of Steel products, which carries all its revenue.
Valuation
Today, against the company's own history.Vardhman Special Steels PE ratio and valuation
Price to earnings
At or below today's level on 60% of 2,328 trading days over the last 10 years.
LowestHighest
Its median19.16Industry median17.54
Price to book
At or below today's level on 79% of 1,791 trading days since Nov 2018.
LowestHighest
Its median2.08Industry median1.58
Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price. When a year's dividend goes ex later than the year before's, the yield reads zero for the days between; a run of under 60 such trading days is left out of the yield's medians and percentiles. The ex-date is the day from which a buyer of the share no longer gets the dividend.
At or below today's level on 83% of 2,464 trading days over the last 10 years.
LowestHighest
Its median0.57%Industry median0.43%
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | +5.9% | +10.8% | −5.9% | 1.7% |
| 3 years | +3.0% | +0.7% | +0.9% | 1.4% |
| 5 years | +26.0% | +18.3% | +5.4% | 1.3% |
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth over 1, 3 and 5 years is on profit divided by shares in issue at both ends: the earnings per share stated for one end does not match that year's profit and share count.
Mutual fund holdings
2 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 1 of the 1 fund that added or cut is an index fund, an ETF or an arbitrage fund: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future.
- CutCut. Funds that held fewer shares than at the end of the month before.
- 1
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 1
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end. Sold out in the glossary
- 1
| Fund | |||
|---|---|---|---|
 Tata Small Cap FundTata Mutual Fund | 23,78,601 | 0.72% | ₹95.4 Cr |
 Motilal Oswal BSE 1000 Index FundMotilal Oswal Mutual Fund | 68 | – | ₹27,000 |
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.
Promoter and insider buying and selling
Trades made since 28 Oct 2025.Vardhman Special Steels insider trading
No promoter, director, key manager or employee bought or sold on the market.
- Promoters and promoter group: no market trade
- Others: no market trade
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.
Vardhman Special Steels competitors and peers
Iron & Steel Products, 146 listed companies, priced on 27 Oct 2026. The table lists the 8 companies closest to Vardhman Special Steels in market cap.Capital goods stocks
Where the company sits among the companies nearest its size
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
 Surya RoshniSURYAROSNI | 4,646 | 14.90 | 1.76 | +11.7% | +8.3% | 12.2% | 14.7% | 2.34% |
 Electrosteel CastingsELECTCAST | 4,100 | 33.97 | 0.69 | −15.7% | −78.9% | 2.1% | 1.5% | 1.36% |
 Kalyani SteelsKSL | 3,836 | 14.51 | 1.82 | −4.9% | −0.5% | 13.2% | 12.1% | 1.14% |
 Venus Pipes & TubesVENUSPIPES | 3,709 | 35.80 | 5.55 | +21.7% | +15.0% | 17.3% | 18.0% | 0.06% |
 Kirloskar IndustriesKIRLOSIND | 3,312 | – | 0.53 | +3.8% | – | – | 6.0% | 0.41% |
| A-One Steels IndiaAONESTEELS | 2,940 | – | – | – | – | – | – | 0.00% |
 Ratnaveer Precision EngineeringRATNAVEER | 2,914 | 43.11 | – | +17.5% | +37.2% | 13.0% | 9.0% | 0.00% |
 JTL IndustriesJTLIND | 2,897 | 25.26 | 1.95 | +19.0% | +35.5% | 8.5% | 9.3% | 0.17% |
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.
Dividends
Per share, by the year it was paid for, and the latest payments.Vardhman Special Steels dividend history
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossaryHighest ₹3.50 a share, year to Mar 2026.
| Ex-date | Type | Per share |
|---|---|---|
| 28 Aug 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹3.50 |
| 12 Sep 2025 | Final | ₹3.00 |
| 6 Sep 2024 | Final | ₹2.00 |
| 15 Sep 2023 | Final | ₹2.00 |
| 16 Sep 2022 | Final | ₹3.50 |
| 2 Sep 2021 | Final | ₹1.50 |
Latest payments, as declared, by ex-date.
Latest announcements
Routine notices left out.Vardhman Special Steels announcements
Oct 2026
27 Oct · Board meeting
27 Oct · Results
26 Oct · Analysts
22 Oct · Analysts
16 Oct · Board meeting
Vardhman Special Steels share price by year
Each calendar year to 2025.Vardhman Special Steels share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 284.35 | +25.8% | 314.95 | 185.07 |
| 2024 | 226.10 | +3.4% | 334.50 | 190.40 |
| 2023 | 218.60 | +42.5% | 236.55 | 151.90 |
| 2022 | 153.43 | +21.0% | 161.93 | 100.90 |
| 2021 | 126.78 | +116.6% | 146.75 | 56.68 |
| 2020 | 58.53 | +65.2% | 62.93 | 19.00 |
| 2019 | 35.43 | −26.6% | 56.48 | 31.30 |
| 2018 | 48.25 | −42.4% | 88.75 | 47.03 |
| 2017 | 83.78 | +82.3% | 92.98 | 45.25 |
| 2016 | 45.95 | +60.2% | 60.85 | 20.15 |
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.
Recent sessions
The 9 trading days to 26 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 26 Oct 2026 | 339.20 | 348.20 | 331.40 | 343.75 | 340.18 | 75,714 | 52.0% |
| 23 Oct 2026 | 349.05 | 352.60 | 335.05 | 339.20 | 339.46 | 1,11,514 | 52.9% |
| 22 Oct 2026 | 352.55 | 359.10 | 337.85 | 349.05 | 349.60 | 1,42,784 | 51.3% |
| 21 Oct 2026 | 368.50 | 368.50 | 344.00 | 356.15 | 355.94 | 1,11,146 | 50.3% |
| 19 Oct 2026 | 382.00 | 382.05 | 365.00 | 369.00 | 373.17 | 46,861 | 52.0% |
| 16 Oct 2026 | 366.05 | 384.90 | 366.05 | 380.50 | 380.15 | 2,05,183 | 30.1% |
| 15 Oct 2026 | 369.85 | 376.45 | 359.20 | 372.30 | 368.01 | 78,387 | 58.9% |
| 14 Oct 2026 | 361.40 | 374.20 | 361.20 | 369.85 | 368.35 | 86,008 | 40.7% |
| 13 Oct 2026 | 377.15 | 377.15 | 352.60 | 364.25 | 360.89 | 1,35,951 | 55.5% |
Prices in ₹ per share as traded, not adjusted.
Price adjustments
What the price chart is corrected for, so it reads as one share held throughout.Bonus share history
| Ex-date | Event | Price factor | What happened |
|---|---|---|---|
| 26 May 2023 | Bonus | 0.5000 | Holders received 1 bonus share for every 1 held. |
| 7 Apr 2017 | Rights issue | – | Shareholders were offered new shares. Noted, not adjusted for. |
| 7 Apr 2017 | Price move | – | A corporate action went ex within three days of this move (Rights 2:3 @ Premium Rs 40/-, ex-date 7 Apr 2017), and its terms do not account for the move. Not adjusted for. |
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout. Any other event is noted and not adjusted for.
Company details
- NSE symbol
- VSSL
- BSE code
- 534392
- ISIN
- INE050M01012
- Industry
- Industrial Products
- Website
- www.vardhmansteel.com
- CIN
- L27100PB2010PLC033930
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 2010
- Registered office
- Vardhman Premisees, Chandigarh Road, Ludhiana, 141001, Punjab
- Share registrar
- Alankit Assignments Ltd
- Keeps the register of shareholders and handles transfers and dividend payments