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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 up 51.87% to Rs. 5,249.38 lakhs

RESULTS ▲ Positive Development LOW RISK
📅 Filed on BSE: 27 Oct 2026, 01:00 PM IST  ·  BSE ID: fec51ac7-b235-42b9-bf9c-55c8af6132ca
View Original BSE Filing (PDF)
💡
In Simple Terms
Vardhman Special Steels reported higher profits for the recent quarter, with net profit rising to Rs. 5,249.38 lakhs.
🤖 AI Summary
  • Profit after tax for Q2 FY27 increased 51.87% YoY to Rs. 5,249.38 lakhs.
  • Revenue from operations for the quarter ended September 30, 2026, reached Rs. 60,005.06 lakhs.
  • Basic Earnings per Equity Share for Q2 FY27 was Rs. 5.43, compared to Rs. 3.61 in Q2 FY26.
  • For the half-year ended September 30, 2026, Profit after tax was Rs. 9,367.95 lakhs.
  • The Board of Directors approved these un-audited financial results on October 27, 2026.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Profit after tax (Q2 FY27)
Rs. 5,249.38 lakhs
51.87%
Revenue from operations (Q2 FY27)
Rs. 60,005.06 lakhs
38.81%
Basic EPS (Q2 FY27)
Rs. 5.43
50.42%
Profit after tax (Half Year FY27)
Rs. 9,367.95 lakhs
72.03%
Total equity (As at 30 September 2026)
Rs. 1,33,839.52 lakhs
🏢 How This Affects the Company
📈
Business Impact
Revenue from operations grew to Rs. 60,005.06 lakhs in Q2 FY27 from Rs. 43,227.43 lakhs in Q2 FY26, indicating increased sales and market activity for steel products.
💰
Financial Impact
Profit after tax increased by 51.87% YoY to Rs. 5,249.38 lakhs, improving overall profitability and strengthening the company's financial position. Total equity increased to Rs. 1,33,839.52 lakhs as of September 30, 2026, from Rs. 1,27,731.98 lakhs as of March 31, 2026.
⚙️
Operational Impact
Operating profit before change in assets and liabilities was Rs. 14,438.79 lakhs for the half-year ended September 30, 2026, compared to Rs. 9,174.91 lakhs in the prior comparable period. Capital work-in-progress increased to Rs. 9,305.68 lakhs, reflecting ongoing investment in expansion projects.
⚠️
Risk Impact
Non-current borrowings remain at Rs. 0 lakhs, indicating no long-term debt additions. Current borrowings increased to Rs. 16,293.33 lakhs from Rs. 9,264.95 lakhs over the half-year.
👥 What This Means For Shareholders
✅
Action Required
No immediate action is required from shareholders based on this financial results filing.
👤
Who Is Affected
All shareholders are affected by the improved financial performance, with Basic EPS increasing to Rs. 5.43 in Q2 FY27 from Rs. 3.61 in Q2 FY26.
🔍
Management Signal
The financial results indicate management's ability to drive revenue growth and enhance profitability, alongside ongoing investment in capital projects.

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

👁 Watch List — track these upcoming events
Q3 FY27 results announcement — check revenue and profit trends.
Updates on capital work-in-progress to see project completion timelines.
Cash flow from operations in next filings for H2 FY27.
LOW RISK The financial results show strong growth with no immediate red flags; however, increasing trade receivables require monitoring.
💡 Investor Takeaway
Vardhman Special Steels recorded a 51.87% increase in Profit after tax, reaching Rs. 5,249.38 lakhs for Q2 FY27. Revenue from operations also rose by 38.81% to Rs. 60,005.06 lakhs compared to Q2 FY26, confirming robust financial performance.
⚖️ Strengths & Concerns

✅ Positives

  • Profit after tax increased by 51.87% YoY to Rs. 5,249.38 lakhs in Q2 FY27 from Rs. 3,456.35 lakhs in Q2 FY26.
  • Revenue from operations grew 38.81% YoY to Rs. 60,005.06 lakhs in Q2 FY27, up from Rs. 43,227.43 lakhs in the same quarter last year.

⚠️ Concerns

  • Cash generated from operating activities decreased to Rs. 5,562.30 lakhs for H1 FY27 from Rs. 8,440.18 lakhs for H1 FY26.
  • Increase in trade receivables by Rs. 13,289.01 lakhs for H1 FY27 indicates slower collection from customers compared to the prior half-year.
📅 Company Track Record
Vardhman Special Steels previously reported a Q1 FY27 PAT increase of 107.01% to Rs. 4,118.57 lakhs. The current Q2 FY27 profit growth continues a trend of strong quarterly financial performance, demonstrating sequential growth from Q1 FY27 to Q2 FY27 in both revenue and profit.

Based on publicly available historical data. For context only.

❓ Frequently Asked Questions
What was Vardhman Special Steels' net profit in Q2 FY27?
Vardhman Special Steels' Profit after tax for the quarter ended September 30, 2026 (Q2 FY27) was Rs. 5,249.38 lakhs, an increase of 51.87% from Rs. 3,456.35 lakhs in Q2 FY26.
What was Vardhman Special Steels' revenue from operations for Q2 FY27?
Revenue from operations for Vardhman Special Steels in Q2 FY27 was Rs. 60,005.06 lakhs, compared to Rs. 43,227.43 lakhs in the quarter ended September 30, 2025.
What was the Basic Earnings per Share (EPS) for Vardhman Special Steels in Q2 FY27?
The Basic Earnings per Equity Share for Vardhman Special Steels in Q2 FY27 was Rs. 5.43, increasing from Rs. 3.61 in Q2 FY26.
What is the total equity of Vardhman Special Steels as of September 30, 2026?
As of September 30, 2026, the total equity of Vardhman Special Steels stood at Rs. 1,33,839.52 lakhs, up from Rs. 1,27,731.98 lakhs as of March 31, 2026.
How did cash flow from operating activities change for Vardhman Special Steels in H1 FY27?
Net cash generated from operating activities for Vardhman Special Steels was Rs. 3,397.26 lakhs for the half-year ended September 30, 2026, compared to Rs. 7,090.90 lakhs for the half-year ended September 30, 2025.

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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