Vardhman Special Steels Limited — Updates, 22-07-2025: Amendment(s)

Vardhman Special Steels has updated its agreements for the 55 MW DC solar plant in Punjab, which exclusively supplies power to the company. The amended power supply agreement now stipulates that dividends VSSL receives from Sone Solar will be recovered through an upward adjustment in the power tariff. Positively, due to improved solar panel efficiency, the contracted and assured delivered energy targets have been increased. Additionally, the updated share subscription agreement clarifies terms for share option exercise: VSSL receives face value, with adjustments (refunds or compensation) made between VSSL and ASG based on the fair market value of shares. These changes impact VSSL's power costs and future share transactions.