Vardhman Special Steels Limited — Updates, 25-07-2025: Press Release

Vardhman Special Steels' Q1 FY26 saw volumes jump 10.49% and revenue rise 4.56% to Rs. 433.70 Cr. However, EBITDA declined 18.13% to Rs. 39.33 Cr and PAT fell 23.71% to Rs. 19.90 Cr, primarily due to lower gross margins. Operationally, the Kocks Block has been successfully commissioned, with commercial production awaiting approvals. Critically, the company fully repaid all borrowings in early July, signaling reduced finance costs ahead. Aichi Steel Corporation increased its stake to 24.9% with a Rs. 384.91 Cr investment, reinforcing strategic partnership and future growth plans, including discussions for a new forging facility.