Vardhman Special Steels Announces Greenfield Steel Plant

28 Apr 2025 CW Team

"We are excited to announce the setting up of our new greenfield plant, which is a major step towards positioning Vardhman Special Steels for the next phase of growth. This expansion will enhance our ability to meet future demand, achieve better cost efficiencies, and align with global sustainability trends," added Sachit Jain, Vice Chairman & Managing Director, Vardhman Special Steels Ltd.

Vardhman Special Steels Limited one of India’s leading producers of special steels and a pioneer in green steel manufacturing also announced its audited financial results for the fourth quarter and full year ended March 31, 2025.

The company reported revenue from operations of Rs 17.64 billion in FY25, registering a 6.20% increase year-on-year. EBITDA (including other income) stood at Rs 1.77 billion, reflecting a 2.84% growth, while PAT rose by 1.59% to Rs 930.9 million. The Board has recommended a dividend of Rs 3 per equity share for FY25, up from Rs 2 per share in the previous year.

For Q4 FY25, the company achieved a sales volume of 53,834 tonne, a 3.29% increase over the same period last year, despite a 14-day rolling mill shutdown. Revenue for the quarter stood at Rs 4.28 billion, while PAT was reported at Rs 197.3 million.

Jain added, "In Q4 FY25, we delivered volume growth despite operational challenges. However, higher-than-expected price reductions impacted realisations and profitability. We remain focused on improving operational efficiency and ensuring sustainable growth. With the successful commissioning of the Kocks Block, we expect further productivity gains in the coming quarters." (Vardhman)

Vardhman Special Steels announced plans to set up a new greenfield steel plant in Punjab, marking a significant capacity expansion initiative. Key highlights include: • Planned capacity: 5,00,000 MT per annum of billet production, with a commensurate Rolling Mill and testing facilities. • Capex investment: Approximately Rs 20 billion, to be funded through internal accruals, equity, and debt. • Commissioning target: FY 2029–30. • Strategic goals: Address anticipated capacity shortages post-2028, meet evolving OEM quality standards, align with green steel and circular economy trends, and expand into new product segments such as wire rods, forgings, and non-automotive applications. We are excited to announce the setting up of our new greenfield plant, which is a major step towards positioning Vardhman Special Steels for the next phase of growth. This expansion will enhance our ability to meet future demand, achieve better cost efficiencies, and align with global sustainability trends, added Sachit Jain, Vice Chairman & Managing Director, Vardhman Special Steels Ltd. Vardhman Special Steels Limited one of India’s leading producers of special steels and a pioneer in green steel manufacturing also announced its audited financial results for the fourth quarter and full year ended March 31, 2025. The company reported revenue from operations of Rs 17.64 billion in FY25, registering a 6.20% increase year-on-year. EBITDA (including other income) stood at Rs 1.77 billion, reflecting a 2.84% growth, while PAT rose by 1.59% to Rs 930.9 million. The Board has recommended a dividend of Rs 3 per equity share for FY25, up from Rs 2 per share in the previous year. For Q4 FY25, the company achieved a sales volume of 53,834 tonne, a 3.29% increase over the same period last year, despite a 14-day rolling mill shutdown. Revenue for the quarter stood at Rs 4.28 billion, while PAT was reported at Rs 197.3 million. Jain added, In Q4 FY25, we delivered volume growth despite operational challenges. However, higher-than-expected price reductions impacted realisations and profitability. We remain focused on improving operational efficiency and ensuring sustainable growth. With the successful commissioning of the Kocks Block, we expect further productivity gains in the coming quarters. (Vardhman)

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