Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post
Last Updated: March 3, 2026, 1:34 pm
Author: Getaka|Social: XLinkedIn

Vardhman Special Steels Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: March 3, 2026, 1:34 pm

Market Cap 2,399 Cr.
Current Price 248
Intrinsic Value₹279.16
High / Low 324/178
Stock P/E22.3
Book Value 125
Dividend Yield1.21 %
ROCE16.5 %
ROE12.1 %
Face Value 10.0
PEG Ratio-26.18

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Vardhman Special Steels Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Vardhman Special Steels Ltd 2,399 Cr. 248 324/17822.3 1251.21 %16.5 %12.1 % 10.0
Aeroflex Industries Ltd 2,988 Cr. 226 240/14561.4 27.80.13 %22.2 %16.5 % 2.00
Hisar Metal Industries Ltd 87.0 Cr. 161 228/14829.0 1190.62 %9.37 %5.06 % 10.0
Alliance Integrated Metaliks Ltd 58.1 Cr. 1.47 5.20/1.31 7.800.00 %24.7 %% 1.00
Industry Average2,693.50 Cr159.1237.5769.900.49%18.19%11.22%5.75

All Competitor Stocks of Vardhman Special Steels Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 401422409415397439415495427428434432431
Expenses 364398380384364391372456392397402387387
Operating Profit 36242931334942393531324543
OPM % 9%6%7%8%8%11%10%8%8%7%7%10%10%
Other Income 1357689697781113
Interest 5545555553424
Depreciation 7777798888988
Profit before tax 38182525294435352827274645
Tax % 25%24%26%26%25%25%26%26%25%27%26%26%25%
Net Profit 28141918223326262120203534
EPS in Rs 3.511.682.292.272.684.033.203.172.632.412.433.583.48

Last Updated: February 3, 2026, 4:46 pm

Below is a detailed analysis of the quarterly data for Vardhman Special Steels Ltd based on the most recent figures (Dec 2025) and their trends compared to the previous period:

  • For Sales, as of Dec 2025, the value is 431.00 Cr.. The value appears to be declining and may need further review. It has decreased from 432.00 Cr. (Sep 2025) to 431.00 Cr., marking a decrease of 1.00 Cr..
  • For Expenses, as of Dec 2025, the value is 387.00 Cr.. The value remains steady. There is no change compared to the previous period (Sep 2025) which recorded 387.00 Cr..
  • For Operating Profit, as of Dec 2025, the value is 43.00 Cr.. The value appears to be declining and may need further review. It has decreased from 45.00 Cr. (Sep 2025) to 43.00 Cr., marking a decrease of 2.00 Cr..
  • For OPM %, as of Dec 2025, the value is 10.00%. The value remains steady. There is no change compared to the previous period (Sep 2025) which recorded 10.00%.
  • For Other Income, as of Dec 2025, the value is 13.00 Cr.. The value appears strong and on an upward trend. It has increased from 11.00 Cr. (Sep 2025) to 13.00 Cr., marking an increase of 2.00 Cr..
  • For Interest, as of Dec 2025, the value is 4.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 2.00 Cr. (Sep 2025) to 4.00 Cr., marking an increase of 2.00 Cr..
  • For Depreciation, as of Dec 2025, the value is 8.00 Cr.. The value remains steady. There is no change compared to the previous period (Sep 2025) which recorded 8.00 Cr..
  • For Profit before tax, as of Dec 2025, the value is 45.00 Cr.. The value appears to be declining and may need further review. It has decreased from 46.00 Cr. (Sep 2025) to 45.00 Cr., marking a decrease of 1.00 Cr..
  • For Tax %, as of Dec 2025, the value is 25.00%. The value appears to be improving (decreasing) as expected. It has decreased from 26.00% (Sep 2025) to 25.00%, marking a decrease of 1.00%.
  • For Net Profit, as of Dec 2025, the value is 34.00 Cr.. The value appears to be declining and may need further review. It has decreased from 35.00 Cr. (Sep 2025) to 34.00 Cr., marking a decrease of 1.00 Cr..
  • For EPS in Rs, as of Dec 2025, the value is 3.48. The value appears to be declining and may need further review. It has decreased from 3.58 (Sep 2025) to 3.48, marking a decrease of 0.10.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 26, 2026, 9:10 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 3676586536748591,1218469371,3681,7351,6611,7641,725
Expenses 5726466106127971,0538068341,1951,5941,5191,6161,573
Operating Profit -205124362626840104174141142148152
OPM % -56%2%7%9%7%6%5%11%13%8%9%8%9%
Other Income 209714629132939302939
Interest 12202328212426201718181913
Depreciation 6141718222426302728313333
Profit before tax -13-154192522-266158134123125145
Tax % -28%0%0%0%0%-0%-244%33%36%25%25%26%
Net Profit -9-1541925223441011009293108
EPS in Rs -1.52-2.450.683.103.513.110.415.4612.4212.3611.2511.3911.90
Dividend Payout % 0%0%0%0%0%0%0%14%14%8%18%26%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-66.67%126.67%375.00%31.58%-12.00%-86.36%1366.67%129.55%-0.99%-8.00%1.09%
Change in YoY Net Profit Growth (%)0.00%193.33%248.33%-343.42%-43.58%-74.36%1453.03%-1237.12%-130.54%-7.01%9.09%

Vardhman Special Steels Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:10%
5 Years:16%
3 Years:9%
TTM:7%
Compounded Profit Growth
10 Years:21%
5 Years:116%
3 Years:-3%
TTM:-12%
Stock Price CAGR
10 Years:34%
5 Years:50%
3 Years:31%
1 Year:-6%
Return on Equity
10 Years:11%
5 Years:14%
3 Years:14%
Last Year:12%

Last Updated: September 5, 2025, 1:50 pm

Balance Sheet

Last Updated: December 4, 2025, 2:11 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 19191919363640414141818296
Reserves 1671511611803043263734195146026387161,112
Borrowings 2953503383162283342661911621448412077
Other Liabilities 8394979910919490153204244237218274
Total Liabilities 5646156146136778897708039211,0311,0401,1361,559
Fixed Assets 210230251265250280310283289294325309472
CWIP 30212173312131312111757
Investments 32141418050152001826
Other Assets 2923503473464125774435076037057146931,004
Total Assets 5646156146136778897708039211,0311,0401,1361,559

Below is a detailed analysis of the balance sheet data for Vardhman Special Steels Ltd based on the most recent figures (Sep 2025) and their trends compared to the previous period:

  • For Equity Capital, as of Sep 2025, the value is 96.00 Cr.. The value appears strong and on an upward trend. It has increased from 82.00 Cr. (Mar 2025) to 96.00 Cr., marking an increase of 14.00 Cr..
  • For Reserves, as of Sep 2025, the value is 1,112.00 Cr.. The value appears strong and on an upward trend. It has increased from 716.00 Cr. (Mar 2025) to 1,112.00 Cr., marking an increase of 396.00 Cr..
  • For Borrowings, as of Sep 2025, the value is 77.00 Cr.. The value appears to be improving (decreasing). Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has decreased from 120.00 Cr. (Mar 2025) to 77.00 Cr., marking a decrease of 43.00 Cr..
  • For Other Liabilities, as of Sep 2025, the value is 274.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 218.00 Cr. (Mar 2025) to 274.00 Cr., marking an increase of 56.00 Cr..
  • For Total Liabilities, as of Sep 2025, the value is 1,559.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 1,136.00 Cr. (Mar 2025) to 1,559.00 Cr., marking an increase of 423.00 Cr..
  • For Fixed Assets, as of Sep 2025, the value is 472.00 Cr.. The value appears strong and on an upward trend. It has increased from 309.00 Cr. (Mar 2025) to 472.00 Cr., marking an increase of 163.00 Cr..
  • For CWIP, as of Sep 2025, the value is 57.00 Cr.. The value appears to be declining and may need further review. It has decreased from 117.00 Cr. (Mar 2025) to 57.00 Cr., marking a decrease of 60.00 Cr..
  • For Investments, as of Sep 2025, the value is 26.00 Cr.. The value appears strong and on an upward trend. It has increased from 18.00 Cr. (Mar 2025) to 26.00 Cr., marking an increase of 8.00 Cr..
  • For Other Assets, as of Sep 2025, the value is 1,004.00 Cr.. The value appears strong and on an upward trend. It has increased from 693.00 Cr. (Mar 2025) to 1,004.00 Cr., marking an increase of 311.00 Cr..
  • For Total Assets, as of Sep 2025, the value is 1,559.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,136.00 Cr. (Mar 2025) to 1,559.00 Cr., marking an increase of 423.00 Cr..

Notably, the Reserves (1,112.00 Cr.) exceed the Borrowings (77.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -36-33466811-19135875974142127
Cash from Investing Activity + 52-4-16-16-16-70-887-9-15-50-127
Cash from Financing Activity + -3331-35-50782-45-94-52-49-943
Net Cash Flow -16-5-522-720-29-23

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-500.00-338.00-295.00-254.00-166.00-266.00-226.00-87.0012.00-3.0058.0028.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 122991091028361788759555854
Inventory Days 116119110122123170103134139119129113
Days Payable 414642364789429068616347
Cash Conversion Cycle 197172176188159142139131131113123120
Working Capital Days -7-514175850477881738468
ROCE %-3%-0%5%9%8%7%3%13%26%20%18%17%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 60.71%60.71%60.71%60.67%60.55%60.55%60.53%60.49%60.37%60.37%51.13%51.10%
FIIs 1.14%1.22%0.96%0.75%0.49%0.64%0.60%0.58%0.64%0.58%0.54%0.54%
DIIs 1.03%1.06%2.42%2.50%2.63%3.14%3.84%4.51%4.17%4.17%3.63%3.30%
Public 37.13%37.03%35.91%36.08%36.33%35.67%35.01%34.42%34.82%34.88%44.70%45.02%
No. of Shareholders 30,12431,95131,90633,71532,86634,68335,22936,34836,28735,85636,44338,079

Shareholding Pattern Chart

No. of Shareholders

Vardhman Special Steels Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Tata Small Cap Fund 2,378,601 0.56 60.81,965,2752025-10-30 04:18:5221.03%
ICICI Prudential Smallcap Fund 778,797 0.25 19.91800,0002025-12-15 01:45:48-2.65%
ICICI Prudential Childrens Fund 26,362 0.05 0.67N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24
FaceValue 10.0010.00
Basic EPS (Rs.) 11.4011.24
Diluted EPS (Rs.) 11.3711.18
Cash EPS (Rs.) 15.4815.05
Book Value[Excl.RevalReserv]/Share (Rs.) 97.6288.31
Book Value[Incl.RevalReserv]/Share (Rs.) 97.6288.31
Revenue From Operations / Share (Rs.) 215.87203.95
PBDIT / Share (Rs.) 21.6821.15
PBIT / Share (Rs.) 17.5817.34
PBT / Share (Rs.) 15.3015.08
Net Profit / Share (Rs.) 11.3911.25
NP After MI And SOA / Share (Rs.) 11.3911.25
PBDIT Margin (%) 10.0410.36
PBIT Margin (%) 8.148.50
PBT Margin (%) 7.087.39
Net Profit Margin (%) 5.275.51
NP After MI And SOA Margin (%) 5.275.51
Return on Networth / Equity (%) 11.6612.73
Return on Capital Employeed (%) 17.4618.67
Return On Assets (%) 8.198.81
Long Term Debt / Equity (X) 0.000.01
Total Debt / Equity (X) 0.150.11
Asset Turnover Ratio (%) 1.620.00
Current Ratio (X) 2.112.38
Quick Ratio (X) 1.041.12
Inventory Turnover Ratio (X) 5.110.00
Dividend Payout Ratio (NP) (%) 17.5017.73
Dividend Payout Ratio (CP) (%) 12.8713.25
Earning Retention Ratio (%) 82.5082.27
Cash Earning Retention Ratio (%) 87.1386.75
Interest Coverage Ratio (X) 9.519.35
Interest Coverage Ratio (Post Tax) (X) 6.005.97
Enterprise Value (Cr.) 1734.091802.94
EV / Net Operating Revenue (X) 0.981.09
EV / EBITDA (X) 9.7910.47
MarketCap / Net Operating Revenue (X) 0.921.04
Retention Ratios (%) 82.4982.26
Price / BV (X) 2.042.40
Price / Net Operating Revenue (X) 0.921.04
EarningsYield 0.050.05

After reviewing the key financial ratios for Vardhman Special Steels Ltd, here is a detailed analysis based on the latest available data and recent trends:

  • For FaceValue, as of Mar 25, the value is 10.00. This value is within the healthy range. There is no change compared to the previous period (Mar 24) which recorded 10.00.
  • For Basic EPS (Rs.), as of Mar 25, the value is 11.40. This value is within the healthy range. It has increased from 11.24 (Mar 24) to 11.40, marking an increase of 0.16.
  • For Diluted EPS (Rs.), as of Mar 25, the value is 11.37. This value is within the healthy range. It has increased from 11.18 (Mar 24) to 11.37, marking an increase of 0.19.
  • For Cash EPS (Rs.), as of Mar 25, the value is 15.48. This value is within the healthy range. It has increased from 15.05 (Mar 24) to 15.48, marking an increase of 0.43.
  • For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 97.62. It has increased from 88.31 (Mar 24) to 97.62, marking an increase of 9.31.
  • For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 97.62. It has increased from 88.31 (Mar 24) to 97.62, marking an increase of 9.31.
  • For Revenue From Operations / Share (Rs.), as of Mar 25, the value is 215.87. It has increased from 203.95 (Mar 24) to 215.87, marking an increase of 11.92.
  • For PBDIT / Share (Rs.), as of Mar 25, the value is 21.68. This value is within the healthy range. It has increased from 21.15 (Mar 24) to 21.68, marking an increase of 0.53.
  • For PBIT / Share (Rs.), as of Mar 25, the value is 17.58. This value is within the healthy range. It has increased from 17.34 (Mar 24) to 17.58, marking an increase of 0.24.
  • For PBT / Share (Rs.), as of Mar 25, the value is 15.30. This value is within the healthy range. It has increased from 15.08 (Mar 24) to 15.30, marking an increase of 0.22.
  • For Net Profit / Share (Rs.), as of Mar 25, the value is 11.39. This value is within the healthy range. It has increased from 11.25 (Mar 24) to 11.39, marking an increase of 0.14.
  • For NP After MI And SOA / Share (Rs.), as of Mar 25, the value is 11.39. This value is within the healthy range. It has increased from 11.25 (Mar 24) to 11.39, marking an increase of 0.14.
  • For PBDIT Margin (%), as of Mar 25, the value is 10.04. This value is within the healthy range. It has decreased from 10.36 (Mar 24) to 10.04, marking a decrease of 0.32.
  • For PBIT Margin (%), as of Mar 25, the value is 8.14. This value is below the healthy minimum of 10. It has decreased from 8.50 (Mar 24) to 8.14, marking a decrease of 0.36.
  • For PBT Margin (%), as of Mar 25, the value is 7.08. This value is below the healthy minimum of 10. It has decreased from 7.39 (Mar 24) to 7.08, marking a decrease of 0.31.
  • For Net Profit Margin (%), as of Mar 25, the value is 5.27. This value is within the healthy range. It has decreased from 5.51 (Mar 24) to 5.27, marking a decrease of 0.24.
  • For NP After MI And SOA Margin (%), as of Mar 25, the value is 5.27. This value is below the healthy minimum of 8. It has decreased from 5.51 (Mar 24) to 5.27, marking a decrease of 0.24.
  • For Return on Networth / Equity (%), as of Mar 25, the value is 11.66. This value is below the healthy minimum of 15. It has decreased from 12.73 (Mar 24) to 11.66, marking a decrease of 1.07.
  • For Return on Capital Employeed (%), as of Mar 25, the value is 17.46. This value is within the healthy range. It has decreased from 18.67 (Mar 24) to 17.46, marking a decrease of 1.21.
  • For Return On Assets (%), as of Mar 25, the value is 8.19. This value is within the healthy range. It has decreased from 8.81 (Mar 24) to 8.19, marking a decrease of 0.62.
  • For Long Term Debt / Equity (X), as of Mar 25, the value is 0.00. This value is below the healthy minimum of 0.2. It has decreased from 0.01 (Mar 24) to 0.00, marking a decrease of 0.01.
  • For Total Debt / Equity (X), as of Mar 25, the value is 0.15. This value is within the healthy range. It has increased from 0.11 (Mar 24) to 0.15, marking an increase of 0.04.
  • For Asset Turnover Ratio (%), as of Mar 25, the value is 1.62. It has increased from 0.00 (Mar 24) to 1.62, marking an increase of 1.62.
  • For Current Ratio (X), as of Mar 25, the value is 2.11. This value is within the healthy range. It has decreased from 2.38 (Mar 24) to 2.11, marking a decrease of 0.27.
  • For Quick Ratio (X), as of Mar 25, the value is 1.04. This value is within the healthy range. It has decreased from 1.12 (Mar 24) to 1.04, marking a decrease of 0.08.
  • For Inventory Turnover Ratio (X), as of Mar 25, the value is 5.11. This value is within the healthy range. It has increased from 0.00 (Mar 24) to 5.11, marking an increase of 5.11.
  • For Dividend Payout Ratio (NP) (%), as of Mar 25, the value is 17.50. This value is below the healthy minimum of 20. It has decreased from 17.73 (Mar 24) to 17.50, marking a decrease of 0.23.
  • For Dividend Payout Ratio (CP) (%), as of Mar 25, the value is 12.87. This value is below the healthy minimum of 20. It has decreased from 13.25 (Mar 24) to 12.87, marking a decrease of 0.38.
  • For Earning Retention Ratio (%), as of Mar 25, the value is 82.50. This value exceeds the healthy maximum of 70. It has increased from 82.27 (Mar 24) to 82.50, marking an increase of 0.23.
  • For Cash Earning Retention Ratio (%), as of Mar 25, the value is 87.13. This value exceeds the healthy maximum of 70. It has increased from 86.75 (Mar 24) to 87.13, marking an increase of 0.38.
  • For Interest Coverage Ratio (X), as of Mar 25, the value is 9.51. This value is within the healthy range. It has increased from 9.35 (Mar 24) to 9.51, marking an increase of 0.16.
  • For Interest Coverage Ratio (Post Tax) (X), as of Mar 25, the value is 6.00. This value is within the healthy range. It has increased from 5.97 (Mar 24) to 6.00, marking an increase of 0.03.
  • For Enterprise Value (Cr.), as of Mar 25, the value is 1,734.09. It has decreased from 1,802.94 (Mar 24) to 1,734.09, marking a decrease of 68.85.
  • For EV / Net Operating Revenue (X), as of Mar 25, the value is 0.98. This value is below the healthy minimum of 1. It has decreased from 1.09 (Mar 24) to 0.98, marking a decrease of 0.11.
  • For EV / EBITDA (X), as of Mar 25, the value is 9.79. This value is within the healthy range. It has decreased from 10.47 (Mar 24) to 9.79, marking a decrease of 0.68.
  • For MarketCap / Net Operating Revenue (X), as of Mar 25, the value is 0.92. This value is below the healthy minimum of 1. It has decreased from 1.04 (Mar 24) to 0.92, marking a decrease of 0.12.
  • For Retention Ratios (%), as of Mar 25, the value is 82.49. This value exceeds the healthy maximum of 70. It has increased from 82.26 (Mar 24) to 82.49, marking an increase of 0.23.
  • For Price / BV (X), as of Mar 25, the value is 2.04. This value is within the healthy range. It has decreased from 2.40 (Mar 24) to 2.04, marking a decrease of 0.36.
  • For Price / Net Operating Revenue (X), as of Mar 25, the value is 0.92. This value is below the healthy minimum of 1. It has decreased from 1.04 (Mar 24) to 0.92, marking a decrease of 0.12.
  • For EarningsYield, as of Mar 25, the value is 0.05. This value is below the healthy minimum of 5. There is no change compared to the previous period (Mar 24) which recorded 0.05.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Vardhman Special Steels Ltd as of March 4, 2026 is: ₹273.09

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of March 4, 2026, Vardhman Special Steels Ltd is Undervalued by 10.12% compared to the current share price ₹248.00

Intrinsic Value of Vardhman Special Steels Ltd as of March 4, 2026 is: ₹270.76

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of March 4, 2026, Vardhman Special Steels Ltd is Undervalued by 9.18% compared to the current share price ₹248.00

Last 5 Year EPS CAGR: -0.85%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The company has higher reserves (435.62 cr) compared to borrowings (223.46 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (384.62 cr) and profit (60.85 cr) over the years.
  1. The stock has a low average ROCE of 10.25%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 46.50, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 149.25, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Vardhman Special Steels Ltd:
    1. Net Profit Margin: 5.27%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 17.46% (Industry Average ROCE: 18.19%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 11.66% (Industry Average ROE: 11.22%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 6
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 1.04
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 22.3 (Industry average Stock P/E: 37.57)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0.15
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Vardhman Special Steels Ltd. is a Public Limited Listed company incorporated on 14/05/2010 and has its registered office in the State of Punjab, India. Company's Corporate Identification Number(CIN) is L27100PB2010PLC033930 and registration number is 033930. Currently Company is involved in the business activities of Manufacture of basic iron and steel. Company's Total Operating Revenue is Rs. 1764.41 Cr. and Equity Capital is Rs. 81.73 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Steel - GeneralVardhman Premises, Chandigarh Road, Ludhiana Punjab 141010Contact not found
Management
NamePosition Held
Mr. Rajeev GuptaChairman
Mr. Sachit JainVice Chairman & Mng.Director
Mr. Rajendar Kumar RewariExecutive Director
Ms. Soumya JainExecutive Director
Mr. Rajinder Kumar JainNon Executive Director
Mr. Toshio ItoNon Executive Director
Mrs. Suchita JainNon Executive Director
Mrs. Vidya ShahIndependent Director
Mr. Rakesh JainIndependent Director
Mr. Sanjoy BhattacharyyaIndependent Director
Mr. Suman ChatterjeeIndependent Director
Mr. Hemant Bharat RamIndependent Director
Mr. Randhir Singh KalsiIndependent Director
Mr. Koichiro HayashidaAddnl.Non Executive Director

FAQ

What is the intrinsic value of Vardhman Special Steels Ltd?

Vardhman Special Steels Ltd's intrinsic value (as of 04 March 2026) is ₹270.76 which is 9.18% higher the current market price of ₹248.00, indicating undervalued. Calculated using the PE ratio method, this valuation considers the company's ₹2,399 Cr. market cap, FY2025-2026 high/low of ₹324/178, reserves of ₹1,112 Cr, and liabilities of ₹1,559 Cr.

What is the Market Cap of Vardhman Special Steels Ltd?

The Market Cap of Vardhman Special Steels Ltd is 2,399 Cr..

What is the current Stock Price of Vardhman Special Steels Ltd as on 04 March 2026?

The current stock price of Vardhman Special Steels Ltd as on 04 March 2026 is ₹248.

What is the High / Low of Vardhman Special Steels Ltd stocks in FY 2025-2026?

In FY 2025-2026, the High / Low of Vardhman Special Steels Ltd stocks is ₹324/178.

What is the Stock P/E of Vardhman Special Steels Ltd?

The Stock P/E of Vardhman Special Steels Ltd is 22.3.

What is the Book Value of Vardhman Special Steels Ltd?

The Book Value of Vardhman Special Steels Ltd is 125.

What is the Dividend Yield of Vardhman Special Steels Ltd?

The Dividend Yield of Vardhman Special Steels Ltd is 1.21 %.

What is the ROCE of Vardhman Special Steels Ltd?

The ROCE of Vardhman Special Steels Ltd is 16.5 %.

What is the ROE of Vardhman Special Steels Ltd?

The ROE of Vardhman Special Steels Ltd is 12.1 %.

What is the Face Value of Vardhman Special Steels Ltd?

The Face Value of Vardhman Special Steels Ltd is 10.0.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Vardhman Special Steels Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
Explore Industry-wise Stock Analysis Reports