Is Vardhman Special Steels Ltd (VSSL) a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Vardhman Special Steels Ltd is a average quality company .

Is Vardhman Special Steels Ltd (VSSL) undervalued or overvalued?

The key valuation ratios of Vardhman Special Steels Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone .

What is Vardhman Special Steels Ltd (VSSL) share price return in the past 10 years?

Vardhman Special Steels Ltd share price has appreciated 29.3% annually (CAGR) over the past ten years.

Is Vardhman Special Steels Ltd (VSSL) a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Vardhman Special Steels Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

What is the share price of Vardhman Special Steels Ltd (VSSL)?

Company share prices are keep on changing according to the market conditions. The current trading price of Vardhman Special Steels Ltd (VSSL) on 05-May-2026 12:36:00 at 12:36 is 278.50.

What is the market cap of Vardhman Special Steels Ltd (VSSL)?

Market capitalization is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 05-May-2026 at 12:36, the market cap of Vardhman Special Steels stood at Rs. 2742.97 Cr.

What is the P/E ratio of Vardhman Special Steels?

The latest standalone P/E ratio of Vardhman Special Steels as of 05-May-2026 is 22.48.

What is the P/B ratio of Vardhman Special Steels Ltd (VSSL)?

The latest standalone P/B ratio of Vardhman Special Steels Ltd (VSSL) as of 05-May-2026 is 2.15.

What is the 52-week high and low of Vardhman Special Steels Ltd (VSSL)?

The 52-week high of Vardhman Special Steels Ltd (VSSL) is Rs. 322.35 and the 52-week low is Rs. 205.65.

What is the TTM revenue of Vardhman Special Steels Ltd (VSSL)?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Vardhman Special Steels is Rs. 1754.43 (Cr.).

Vardhman Special Steels Ltd (VSSL) Share Analysis – Quality, Valuation Zone & Price Trend & DeciZen Rating

Name: Vardhman Special Steels Ltd (VSSL)
Brand: Vardhman Special Steels

10 Year X-Ray :

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
ROCE % ⓘ	5.3%	9.2%	8.6%	7.3%	3.4%	13%	25.7%	20.3%	17.8%	16.7%	-
Value Creation Index ⓘ	-0.6	-0.3	-0.4	-0.5	-0.8	-0.1	0.8	0.5	0.3	0.2	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	653	674	859	1,121	846	937	1,368	1,735	1,661	1,764	1,754
Sales YoY Gr.	-	3.2%	27.5%	30.5%	-24.5%	10.7%	46%	26.8%	-4.2%	6.2%	-
Adj EPS ⓘ	2.4	4.6	3.8	3.2	0.3	5.6	12.5	12	11.2	11.3	12.6
YoY Gr.	-	94.1%	-18.1%	-13.6%	-89.8%	1606.1%	121.9%	-4%	-7%	1.2%	-
BVPS (₹) ⓘ	35.1	38.9	47.5	50.5	51.1	56.6	68.3	78.9	88.1	97.4	132.1
Adj Net Profit ⓘ	12	23.4	26.8	23.2	2.6	45.6	101	97.4	90.8	92.2	122
Cash Flow from Ops. ⓘ	46.4	68	11.2	-18.9	135	67.3	58.9	73.6	142	127	-
Debt/CF from Ops. ⓘ	7.3	4.6	20.4	-17.7	2	2.8	2.7	1.9	0.6	0.9	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	11.7%	15.8%	8.8%	6.2%
Adj EPS ⓘ	19%	102.7%	-3.3%	1.2%
BVPSⓘ	12%	13.8%	12.5%	10.6%
Share Price	29.3%	24%	14.9%	18.8%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
Return on Equity % ⓘ	6.9	12.4	10	6.6	0.7	10.4	20	16.3	13.3	12.2	11
Op. Profit Mgn % ⓘ	8.1	10.1	7.8	6.2	4.8	11.3	12.4	8.1	8.6	8.4	9.5
Net Profit Mgn % ⓘ	1.8	3.5	3.1	2.1	0.3	4.9	7.4	5.6	5.5	5.2	7
Debt to Equity ⓘ	1.9	1.6	0.7	0.9	0.6	0.4	0.3	0.2	0.1	0.2	0
Working Cap Days ⓘ	171	165	159	164	220	178	149	150	163	142	98
Cash Conv. Cycle ⓘ	124	124	116	106	127	104	87	84	93	91	64

Recent Performance Summary

No data to display

Return on Equity has declined versus last 3 years average to 11.00%

Sales growth has been subdued in last 3 years 8.84%

Net Profit has been subdued in last 3 years -3.34%

Sales growth is not so good in last 4 quarters at -0.05%

	Standalone	Consolidated
TTM EPS (₹)	12.6	9.6
TTM Sales (₹ Cr.)	1,754	1,764
BVPS (₹) ⓘ	132.1	83.9
Reserves (₹ Cr.) ⓘ	1,181	714
P/BV ⓘ	2.15	3.38
PE ⓘ	22.48	29.47

From the Market
52 Week Low / High (₹)	205.65 / 322.35
All Time Low / High (₹)	4.24 / 345.25
Market Cap (₹ Cr.)	2,743
Equity (₹ Cr.)	96.7
Face Value (₹)	10
Industry PE ⓘ	27.4

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Equity and Liabilities
Shareholders Fund +	179	198	339	361	413	459	554	641	718	796
Share Capital ⓘ	19	19	36	36	40	41	41	41	81	82
Reserves ⓘ	161	180	303	326	373	418	514	600	636	714
Debt +	296	254	220	322	256	170	130	122	60	109
Long Term Debt	129	115	101	135	108	110	79	44	14	3
Short Term Debt	167	139	118	187	149	60	51	78	46	106
Minority Interest	0	0	0	0	0	0	0	0	0	0
Trade Payables	41	35	61	163	62	130	147	186	174	139
Others Liabilities ⓘ	98	126	77	47	38	65	143	174	88	92
Total Liabilities ⓘ	614	613	696	894	769	824	975	1,123	1,040	1,136
Fixed Assets
Net Fixed Assets ⓘ +	251	265	250	280	310	283	289	294	325	309
Gross Block	331	362	305	360	416	417	450	482	542	559
Accumulated Depreciation	81	98	56	80	106	134	160	188	217	250
CWIP ⓘ	2	1	7	33	12	13	13	12	1	117
Investments ⓘ	15	1	8	0	5	0	15	20	0	18
Inventories	107	118	159	313	152	192	304	363	356	335
Trade Receivables	194	189	195	187	180	224	222	262	262	261
Cash Equivalents	4	6	7	0	2	52	16	10	8	11
Others Assets ⓘ	42	33	71	81	108	60	115	163	88	85
Total Assets ⓘ	614	613	696	894	769	824	975	1,123	1,040	1,136

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash Flow From Operating Activity ⓘ +	46	68	11	-19	135	67	59	74	142	127
PBT ⓘ	4	19	25	22	-2	66	158	134	123	125
Adjustment ⓘ	40	45	45	50	46	50	38	43	48	49
Changes in Working Capital ⓘ	2	4	-59	-85	92	-40	-115	-66	3	-15
Tax Paid ⓘ	0	0	0	-6	-1	-10	-22	-38	-32	-33
Cash Flow From Investing Activity ⓘ +	-16	-16	-16	-70	-88	7	-9	-15	-50	-127
Capex	-20	-32	-12	-79	-35	-9	-35	-28	-67	-118
Net Investments	3	15	-5	8	-54	5	-15	-4	22	-16
Others ⓘ	1	1	1	1	1	11	41	18	-6	8
Cash Flow From Financing Activity ⓘ +	-35	-50	7	82	-45	-74	-52	-49	-94	3
Net Proceeds from Shares ⓘ	0	0	116	0	49	1	0	0	1	1
Net Proceeds from Borrowing ⓘ	59	7	-68	37	-31	13	-20	-45	-28	-23
Interest Paid ⓘ	-23	-29	-21	-24	-25	-19	-17	-18	-18	-18
Dividend Paid ⓘ	0	0	0	0	0	0	-6	-14	-16	-16
Others ⓘ	-72	-28	-20	68	-38	-69	-9	27	-33	60
Net Cash Flow ⓘ	-5	2	2	-7	2	0	-2	9	-2	3

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Ratios
ROE (%)	2.42	10.15	9.33	6.34	0.86	10.14	19.89	16.81	13.49	12.3
ROCE (%)	5.25	9.2	8.6	7.25	3.41	12.97	25.74	20.25	17.8	16.71
Asset Turnover Ratio	1.19	1.23	1.34	1.41	1.02	1.18	1.52	1.65	1.54	1.63
PAT to CFO Conversion(x)	11.5	3.58	0.44	-0.86	45	1.52	0.58	0.74	1.54	1.37
Working Capital Days
Receivable Days	93.40	92.40	79.70	62.20	79.20	78.70	59.50	50.90	57.30	53.90
Inventory Days	60	54.20	57.50	76.80	100.30	67	66.20	70.20	78.60	71.20
Payable Days	47.60	39.30	37.10	60.90	76.40	66.70	63.60	54.80	65	52.90

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Sales	653	674	859	1,121	846	937	1,368	1,735	1,661	1,764
Operating Expenses ⓘ +	611	614	797	1,053	806	834	1,199	1,594	1,519	1,616
Manufacturing Costs	182	179	236	288	183	209	274	345	361	374
Material Costs	355	353	470	672	538	525	797	1,109	1,012	1,083
Employee Cost	34	40	47	51	48	60	81	90	96	103
Other Costs ⓘ	40	42	45	42	37	40	48	50	50	56
Operating Profit ⓘ	42	60	62	68	40	103	169	141	142	148
Operating Profit Margin (%)	6.4%	8.9%	7.2%	6.1%	4.7%	11.0%	12.3%	8.1%	8.6%	8.4%
Other Income ⓘ +	3	6	6	2	9	13	34	39	30	29
Exceptional Items ⓘ	0	0	0	0	0	0	0	0	0	0
Interest ⓘ	23	28	21	24	26	20	17	18	18	19
Depreciation ⓘ	17	18	22	24	26	30	27	28	31	33
Profit Before Tax ⓘ	4	19	25	22	-2	66	158	134	123	125
Tax ⓘ	0	-0	0	-0	-6	22	58	34	31	32
Profit After Tax	4	19	25	22	3	44	101	100	92	93
PAT Margin (%)	0.7%	2.8%	2.9%	2.0%	0.4%	4.7%	7.4%	5.8%	5.5%	5.3%
Adjusted EPS (₹)	0.8	3.8	3.5	3.1	0.4	5.5	12.4	12.4	11.3	11.4
Dividend Payout Ratio (%)	0%	0%	0%	0%	0%	13.80%	14.10%	8.10%	17.80%	26.30%

Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
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Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
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SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045
Compliance officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com Telephone: +919860359463 Address: Same as IA
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Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com Telephone: +91 91758 99463 Address: Same as IA
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Vardhman Special Steels Ltd (VSSL) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Vardhman Special Share Price