Vardhman Special Steels Limited — Investor Meet, 04-05-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Vardhman Special Steels delivered a record FY26 with ~INR122 Cr profits and 225,000 tons volume. Management is confident, raising EBITDA/ton guidance to INR8,000-11,000, targeting INR9,000-12,000 in two years, fueled by efficiency and volume growth to 250,000 tons this year. Key projects include a new reheating furnace, solar plant, and planned forging unit (production starts Jan-March '28). A new steel plant targets July '29 commissioning for 500,000-600,000 tons. Strategic vision: diversify into non-automotive steels, becoming a "supermarket of special steels." Dividends were INR3.50/share. Overall confident tone for future growth.