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📋 Filing Types Available on ForgeUp Filings Sourced from BSE corporate announcements (equity segment). Companies covered are BSE-listed and most are also listed on NSE. We show only material filings.
Financial Results Orders Dividend Buyback Merger / Acquisition Board Meeting Outcome Fundraise (QIP / Rights / FPO) Regulatory / Court Order Credit Rating Change Promoter Pledge Update Management Change Joint Venture / MOU Delisting Bonus Shares Stock Split
Data sourced from BSE India corporate announcements. More categories will be added over time.
Vardhman Special Steels Ltd

Vardhman Special Steels Q2 FY27 Net Profit at Rs. 5,249.38 lakhs

RESULTS ▲ Positive Development LOW RISK
📅 Filed on BSE: 27 Oct 2026, 12:56 PM IST  ·  BSE ID: 19b14615-afa6-4600-a023-61b6d511b2cf
View Original BSE Filing (PDF)
💡
In Simple Terms
Vardhman Special Steels announced its latest financial results, showing a profit of Rs. 5,249.38 lakhs for the second quarter.
🤖 AI Summary
  • Vardhman Special Steels reported a net profit of Rs. 5,249.38 lakhs for the quarter ended September 30, 2026.
  • Revenue from operations reached Rs. 60,005.06 lakhs in Q2 FY27, up from Rs. 43,227.43 lakhs in Q2 FY26.
  • Profit after tax for the half-year ended September 30, 2026, was Rs. 9,367.95 lakhs.
  • Total comprehensive income for Q2 FY27 was Rs. 5,256.78 lakhs.
  • Paid-up equity capital increased to Rs. 9,670.12 lakhs due to Employee Stock Option Scheme issuance.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Revenue from operations (Q2 FY27)
60,005.06 lakhs
38.81%
Profit after tax (Q2 FY27)
5,249.38 lakhs
51.87%
Total income (Q2 FY27)
61,478.86 lakhs
38.65%
Profit before tax (Q2 FY27)
7,055.41 lakhs
51.72%
Earnings per equity share (Basic) (Q2 FY27)
5.43 Rs.
50.42%
Profit after tax (Half Year Ended 30.09.2026)
9,367.95 lakhs
72.03%
Revenue from operations (Half Year Ended 30.09.2026)
108,605.76 lakhs
25.41%
Cash and cash equivalents (as at 30.09.2026)
2,073.27 lakhs
🏢 How This Affects the Company
📈
Business Impact
Revenue from operations increased, indicating enhanced sales volumes or pricing power in the steel products manufacturing segment. The company continues to operate solely in the manufacturing of steel products.
💰
Financial Impact
Profit after tax for the quarter improved significantly, contributing to an overall half-year profit of Rs. 9,367.95 lakhs. The increase in equity share capital reflects dilution from ESOPs but also reinforces employee alignment.
⚙️
Operational Impact
Not directly stated in the filing, but the increase in revenue suggests continued production and sales activities in its steel manufacturing operations. Capital work-in-progress increased to Rs. 9,305.68 lakhs, indicating ongoing investments.
⚠️
Risk Impact
No specific new risks were identified in the financial results. The increase in borrowings to Rs. 16,293.33 lakhs from Rs. 9,264.95 lakhs could indicate reliance on external financing.
👥 What This Means For Shareholders
✅
Action Required
No immediate action is required by shareholders based on this financial results filing.
👤
Who Is Affected
Shareholders will see their equity per share supported by the reported profit growth. The issuance of 15,500 equity shares under ESOPs resulted in a minor increase in total paid-up equity capital to Rs. 9,670.12 lakhs.
🔍
Management Signal
Management is focused on driving revenue and profit growth, as evidenced by the Q2 FY27 results, and continues to invest in employee incentives through ESOPs.

For information only. Not investment advice. ForgeUp is not SEBI-registered.

👁 Watch List — track these upcoming events
Q3 FY27 financial results — check if revenue and profit growth sustain.
Capital work-in-progress — monitor completion of ongoing projects.
Future dividend declarations — observe consistency with prior year's approval.
LOW RISK The financial results demonstrate strong performance with no significant new risks flagged in the filing.
💡 Investor Takeaway
Vardhman Special Steels reported a Q2 FY27 net profit of Rs. 5,249.38 lakhs, a 51.87% increase YoY, with revenue from operations growing 38.81% to Rs. 60,005.06 lakhs. Half-year profit after tax reached Rs. 9,367.95 lakhs, up 72.03% YoY.
⚖️ Strengths & Concerns

✅ Positives

  • Profit after tax for Q2 FY27 increased to Rs. 5,249.38 lakhs, showing a 51.87% growth compared to Rs. 3,456.35 lakhs in Q2 FY26.
  • Revenue from operations grew to Rs. 60,005.06 lakhs in Q2 FY27, representing a 38.81% increase from Rs. 43,227.43 lakhs in Q2 FY26.

⚠️ Concerns

  • Cash and cash equivalents at the end of the half-year decreased to Rs. 2,073.27 lakhs, down from Rs. 20,023.11 lakhs in the prior half-year.
  • Current borrowings increased to Rs. 16,293.33 lakhs as of September 30, 2026, up from Rs. 9,264.95 lakhs as of March 31, 2026.
📅 Company Track Record
Vardhman Special Steels reported a 107.01% increase in Q1 FY27 PAT to Rs. 4,118.57 lakhs, as per the filing on July 22, 2026. The board had approved a dividend of Rs. 3 per share for FY26 at the AGM on September 18, 2026.

Based on publicly available historical data. For context only.

❓ Frequently Asked Questions
What is Vardhman Special Steels' net profit for Q2 FY27?
Vardhman Special Steels reported a net profit after tax of Rs. 5,249.38 lakhs for the quarter ended September 30, 2026.
What was Vardhman Special Steels' revenue from operations in Q2 FY27?
Revenue from operations for Vardhman Special Steels stood at Rs. 60,005.06 lakhs for the quarter ended September 30, 2026.
How much was Vardhman Special Steels' half-year profit after tax for FY27?
The profit after tax for the half-year ended September 30, 2026, was Rs. 9,367.95 lakhs.
What is the basic earnings per share for Vardhman Special Steels in Q2 FY27?
The basic earnings per equity share for Vardhman Special Steels in Q2 FY27 was Rs. 5.43.
How did Vardhman Special Steels' equity share capital change in the half-year ended September 2026?
The paid-up equity share capital increased from Rs. 9,668.57 lakhs to Rs. 9,670.12 lakhs due to the issuance of 15,500 equity shares under the Employee Stock Options Scheme.

Questions based on this BSE filing only. For information purposes.

⚠️ For Information Only — Not Investment Advice
ForgeUp Filings provides AI-generated summaries of public BSE exchange announcements (equity segment) for informational purposes only. Nothing here constitutes investment advice or a recommendation to buy, sell, or hold any security. ForgeUp is not a SEBI-registered investment advisor. All financial numbers are sourced directly from BSE filings and shown as-is. Past data is historical only. Please consult a qualified financial advisor before making investment decisions. Data sourced from BSE India public disclosures.
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