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Result Update Presentation Q3 & 9M FY26
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This presentation has been prepared by Vardhman Special Steels Limited (the “Company”) solely for information purposes and does not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form th e basis or be relied on in connection with any contract or binding commitment what so ever. No off ering of securities of the Company will be made exc ept by means of a statutory offering document containing detailed information about the Company. This Presentation has been prepared by the Company based on information and data which the Company con siders reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achiev ements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and pr ojections made by third parties included in this Pr esentation are not adopted by the Company and the Company is not responsible for such third party statements and projections.
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“ ” “Q3 FY26 witnessed a steady performance by the Comp any, with stable revenues, while EBITDA and PAT growing at 34.28% and 56.53% YoY respectively. The total revenue for the quarter was Rs. 430.54 crores , EBITDA and PAT at Rs. 56.47 crores, and Rs. 33.59 crores respectively. During the quarter, the Board approved an investmen t of ₹475 crore to establish a steel forging and machining facility in Ludhiana, marking a forward i ntegration into value-added automotive components, supported by technical collaboration with Aichi Steel Corporation. This expansion will enable the Comp any to offer a comprehensive, end-to-end solution to au tomotive OEMs, while enhancing quality consistency and supply reliability. In addition, the Company launched a closed-loop ste el recycling initiative with Maruti Suzuki in Octob er, representing a significant milestone in its green steel roadmap and commitment to the circular economy. Further, the work on our new reheating furnace is o n track for commissioning by March 2026, which will take our Rolling capacity to 270,000 tons. In line with our focus on sustainability and cost efficienc y, we invested an additional INR 1.13 crore in Sone Solar Private Limited during the quarter, taking our tot al investment to INR 12.46 crore and maintaining a 26% stake, which we expect will help lower power costs and support margins over the long term. Looking ahead, we will continue to focus on further strengthening our operational efficiencies, expanding capacity, and driving sustainable and profitable business with minimum carbon footprint. Thank you for your continued trust and support.”
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#EBITDA is including Other Income INR Crore Q3 FY26 Q3 FY25 Y-o-Y % Q2 FY26 Revenue From Operations 430.54 426.77 0.88% 432.27 Other Income 13.17 6.97 11.22 Total Income 443.72 433.74 2.30% 443.49 Cost of Materials Consumed 243.41 305.26 260.73 Purchases of Stocks 0.00 0.00 0.00 Changes In Inventory 3.83 (53.87) (11.90) Raw Material Expenses 247.25 251.40 248.83 Employee Expenses 29.19 25.21 29.15 Power & Fuel 48.34 47.56 51.71 Other Expenses 62.48 67.52 57.33 Total Expenditure 387.25 391.69 387.01 EBITDA 56.47 42.05 34.28% 56.48 Depreciation 7.99 8.49 8.08 Interest / Finance Cost 3.69 5.09 1.90 PBT 44.79 28.47 57.32% 46.50 Tax 11.21 7.01 11.94 PAT 33.59 21.46 56.53% 34.56 Basic EPS in Rs.* 3.48 2.63 32.32% 3.61 *Issued Bonus shares in the ratio 1:1, EPS has been adjusted for previous periods accordingly in accordance with Ind AS 33 Volumes for Q3 FY26 stood at 55,141 tonnes as against 52,692 (only rolled products) tonnes in Q3 FY25 Revenue remained stable mainly due to decline in prices during the quarter, the impact was offset by higher sales volumes EBITDA increase mainly due to increase in other income on account of interest received on fixed deposits of unutilized funds invested by Aichi Steel Corporation (ASC), interest on advance deposit with PSPCL and other operational benefits like electricity duty, GST refund etc. EBITDA (including other income) per ton in Q3 FY26 – Rs. 10,241 . Excluding the non- operational Income to the extent of Income on unutilized funds invested by ASC and interest on advance deposit with PSPCL, EBITDA per ton for the quarter was Rs. 9,263
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#EBITDA is including Other Income INR Crore 9M FY26 9M FY25 Y-o-Y % Revenue From Operations 1,296.52 1,336.37 (2.98)% Other Income 31.89 21.93 Total Income 1,328.41 1,358.30 (2.20)% Cost of Materials Consumed 733.02 873.28 Purchases of Stocks 0.00 0.00 Changes In Inventory 33.20 (60.18) Raw Material Expenses 766.23 813.10 Employee Expenses 84.54 76.92 Power & Fuel 143.66 138.31 Other Expenses 181.71 191.43 Total Expenditure 1,176.13 1,219.76 EBITDA 152.28 138.54 9.92% Depreciation 25.07 25.18 Interest / Finance Cost 9.15 15.16 PBT 118.06 98.21 20.22% Tax 30.02 24.85 PAT 88.04 73.36 20.02% Basic EPS in Rs.* 9.63 9.00 7.00% *Issued Bonus shares in the ratio 1:1, EPS has been adjusted for previous periods accordingly in accordance with Ind AS 33 Volumes for 9M FY26 stood at 1 , 6 6 , 2 5 0 t o n n e s a s a g a i n s t 1,62009 (only rolled products) tonnes in 9M FY25 Decline in Revenue by 2.98% mainly due to decline in prices EBITDA per Ton for 9MFY26 was Rs. 9,160 (on rolled sales quantity). Excluding the non-operational Income to the extent of Income on unutilized funds invested by ASC and interest on advance deposit with PSPCL, EBITDA per ton for the 9M FY26 was Rs. 8,627
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Experienced Management Team § Significant experience in Steel Industry § Long term vision and proven ability to achieve long term goals for Company § Strategic alliance with Aichi Steel Corporation State-of- art manufacturing facilities § Cutting-edge manufacturing technology § Manufacturing Capacity Ø Billets - 3,00,000 MTPA Ø Rolled Bars – 2,00,000 MTPA Quality Standards, Assurance & Certifications § ISO 14001 (2015); ISO 45001 (2018); ISO 9001 (2015); IATF 16949 (2016) & ISO 17025 (2017) Strong Domestic & International Customer Base for forging applications § Thailand, Taiwan, Turkey, Russia, Germany and Spain 200+ Reputed and long-term customers § Toyota, Hero Moto Corp, Caterpillar, Hino Motors, Maruti, Bajaj and Hyundai, among others Specialized Product offerings – § Steel Bars and Rods and Bright Bars of various categories of Special & Alloy Steels Amongst India’s Leading Steel Bar Producers for Automotive Applications § Incorporated in May 2010 § Headquartered in Ludhiana, Punjab § Caters to sectors such as Engineering, Automotive, Tractor, Bearing and Allied Industries
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1973- 2011 § Feb 2019 – Fortified Board of Directors -one Independent Woman Director and one Additional Director appointed § Sept 2019 – Replacement of electric arc furnace and other related activities § Nov 2019 – Signs Technical Assistance Agreement with Aichi Steel Corporation (ASC) - Issuance of equity shares on preferential basis worth Rs. 50 Cr. § Appointed Additional Director as representative of Aichi Steel Corporation § July 2021 – Received environmental clearance for capacity expansion § Mar 2023 – Joins hands with ASC to start mass production § May 2023 – Issued Bonus Share in ratio 1:1 § Nov 2024 – Achieved production over enhanced billet capacity of 2,85,000 TPA. § Jun 2025 – Aichi Steel Corporation raises its equity stake to 24.09% • Dec 2025 - Approved a ₹475 crore investment for a new steel forging and machining facility in Ludhiana § 1973 – Started as Oswal Steels - 50,000 TPA capacity of special & alloy steels § 1986 - Acquired Mohta Alloys with capacity of 1,00,000 TPA § 1995 – Installed modern Steel Melting Shop with Electromagnetic Stirrer § 2000 – Commissioned Vacuum Degassing System § 2001 - Strengthened product portfolio – added Bright Bar Facility § 2010 - Independent identity under Vardhman Group § 2012 - Listed on BSE & NSE § 2013 – Installed fully automatic rolling mill with capacity of 1,50,000 TPA & Magnaflux leakage testing system (Dr. Foerster Germany), and Ultrasonic Testing from (Olympus, Canada) § July 2015 – Installed Fume Extraction system § Aug 2015 – Increased Bright bars capacity to 36,000 TPA & 1,80,000 TPA for Hot Rolled § Dec 2016 – Upgraded transformer & allied equipment to reduce melting time & resulting in SMS capacity to 1,65,000 TPA § April 2017 – Rights Issue of Rs 67.85 Cr. § Oct 2017 – Purchased ~8 acres of adjoining land for Rs. 36 Cr. § Feb. 2018 – QIP of Rs 50 Cr. § June 2018 – CRISIL upgraded credit rating § Aug 2018 – Change in Statutory Auditors to M/s B. S. R. & Co. LLP .... Transforming into one of India’s leading steel bar producers What We were… 2012 - 2015 2016 - 2018 2019 – Till Date
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Mr. Sachit Jain Chairman & MD § B. Tech (Electrical) - IIT, New Delhi, MBA (Gold medallist) - IIM, Ahmedabad and Owner/President Management Program – Harvard - Experience of over 34 years in Textile & Steel § Chairman of CII, Northern Region Mr. Rajinder Kumar Jain Non-Executive Director § Chartered Mechanical Engineer from Institute of Mechanical Engineers London § Retired as General Manager from Indian Railways after 35 years of service Mr. Toshio Ito Non-Executive Non-Independent Director § Mechanical Engineer, graduated from Nagoya University, Japan § Managing Executive Officer at Aichi Steel Corporation since 2020 § Experience as Plant Manager at steelmaking, rolling mill and forging plants of Aichi Steel … Mr. Randhir Singh Kalsi Independent Director § Mechanical Engineer, from Delhi College of Engineering § Worked for 40+ years with Maruti Suzuki India Ltd. across different functions § Area of expertise includes – Leadership & Change Management, Business Strategy & Innovation, Startup & New Business Ventures, Aftermarket Parts & Logistics, Operations Management and Digital Transformation Mr. Koichiro Hayashida Non-Executive Non- Independent Director § Master’s degree from Kumamoto University, Japan § Currently serves as an Executive Officer of Hagane Company (Specialty Steel) and as General Manager of the Specialty Steel Business Management Division § served as the President of Aichi Forge, Thailand from 2021 to 2024 Ms. Suchita Jain Non-Executive Director § Master’s degree in Commerce from Punjab University, Chandigarh § Over 31 years of rich experience in textile industry § Representative of Vardhman Group Mr. Rajendar Kumar Rewari Executive Director § B. Sc. from Punjabi University, Patiala and LLB & Post Graduation diploma from Kurukshetra University § More than 41 years of experience in manufacturing sector § More than 10 years of experience as Managing Director of Morarjee Textiles Limited § He has long track record at Vardhman Group in various key positions Ms. Soumya Jain Executive Director § Graduation in B.Sc. Economics from University of Bristol, UK § MBA in family business from Indian School of Business § 5 years of exp. in Vardhman Textiles in various fields like production, marketing, exports, HR, R&D, Capital investments, e tc. § Joined Vardhman Steel in 2021 with involvement in various departments
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Mr. Hemant Bharat Ram Independent Director § Master's degree in Industrial Administration (MBA) & Bachelor’s degree in Mathematics and Computer Science, both from Carnegie Mellon University, Pittsburgh, PA, USA § Started his career in 1991 with DCM Data Systems & thereafter he looked after various businesses of DCM Group § Managing Director of DCM Nouvelle Limited since 2019 & prior to that led the Textile Business of DCM Limited for over 9 years Mr. Suman Chatterjee Independent Director § Graduation in B.Sc. Economics from Presidency College, Kolkata § Holds post graduate diploma in Business Management from Indian Institute of Management, Ahmedabad § Over 30 years of experience in Multiple Leadership roles - worked in sales & marketing and has led businesses for Levi Strauss and SC Johnson in India Mrs. Vidya Shah Independent Director Mr. Rakesh Jain Independent Director § Ph.D. in Polymers from University of Akron § Worked in Advanced Technology Group at GE Electro-materials Division (EMD) in Coshocton, OH,USA & Aditya Birla Group (ABG) as MD of Indo Gulf Fertilizers Ltd § MBA from Indian Institute of Management, Ahmedabad § 11 years of career in investment banking - ICICI, Peregrine and NM Rothschild § Non-Executive Director of Edelweiss Financial Servi ces Ltd. and Executive Chairperson of EdelGive Foundation § Recognised as India’s Top 100 Women in Finance by Association of International Wealth Management of India (AIWMI) 20 19 … Mr. Nishant Arya Independent Director § Graduated in Business Administration from Bradford University, UK and has studied further at the London School of Economics. § Vice Chairman & MD of global Indian conglomerate JBM Group and Chairman of Linde Wiemann GmbH, Germany. § Represents India at key global platforms including COP27–29, World Economic Forum–Davos, actively promoting sustainable mobility and clean energy in collaboration with global institutions such as ADB, AIIB, IFC, and EDB Singapore. Mr. Dinkar Gupta Independent Director § Commerce graduate with a Master’s degree in Police § Administration. § 1987 batch IPS officer from the Punjab cadre has over 30 years of experience in national security. § Served as Director General of the National Investigation Agency (NIA) and as Director General of Police (DGP), Punjab, leading major counter-terrorism and law enforcement initiatives.
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Hot Rolled Bars § Diameter Size : Increased from 25-70 MM in 2012 to 16-120 MM § Size : 14.66 to 78 mm (Peeled), 18 to 55.25 mm (Drawn) Bright Bars
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• Axle Gears • Stabilizer Bar • Knuckle Spindle • Piston • Connecting Rod • Camshaft • Center Velocity Joint • Crankshaft • Differential Gears • Transmission Gear • Drive-Shaft • Tie-Rod • Bearings • Companion-flange • Axle Shaft • Piston-Pin • Steering-Yoke • Steering Shaft
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Annual Capacity : 3,00,000 TPA § 35 MT Ultra High Power (UHP) Eccentric Bottom Tapping (EBT Type) § Fully automated continuous feeding system for DRI & other raw materials § Automatic lance manipulator for oxygen and coke injection § Electrode regulation system - Melt Controller § CELOX for active oxygen measurement (Electronite) Annual Capacity : 2,00,000 TPA § Rolling Mill installed in 2013-14 § Mill with complete automation § 33 TPH “Walking” Hearth Type Reheating Furnace § Reversible 2 high shift able stand with Bar Manipulator § 10 Continuous Stands in Horizontal & Vertical configuration § Online Dimensional Measurements § Rack Type Cooling bed designed for better straightness & Hardness levels § Abrasive Cutter Annual Capacity : 48,000 TPA § Bar Peeling & Centreless Grinding • Straightening • Peeling • Cold drawing • Polishing • Centreless grinding • Full length bar Magnetic Particle Inspection • High Speed Band Saws • Circular Saw - Cut to Length Steel Bright Bars Steel Melting Shop Rolling Mill
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Electric Arc Furnace Two Ladle Refining Furnace Continuous Casting Machine Vacuum Degassing
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Rolling Mill Bright Bar Shop Spherodizing & Annealing Machines Bright Bar Shop Reheating Furnace Rolling Mill
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MFLT Acceptance Criteria: 0.2x10mm UST Acceptance Criteria: SDH - 0.8x10mm, FBH - 0.8 & 1.2mm Straightening Straightness : 2mm / meter Chamfering Bar ends free from Burr Shot Blasting
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…ensuring highest levels of quality and compliance § Spectrometer: ARL 4460:1454 for Chemical Analysis. Can check 32 different elements § CS - 230 : Analyzer for Carbon & Sulfur content in steel § LECO gas analyzer: TC 600 H2, N2, O2 Analyzer § Mobile Spectro and XRF for Mix up Testing of Bars § Mechanical and Metallurgical Testing Lab: § Rockwell Hardness Tester § Impact Testing Machine (Material Toughness) § Metallurgical Microscope with Image Analyzer: § Carl Zeis microscope with maximum magnification of 1000x § Olympus microscope with maximum magnification of 2000x § RADLAB-1 GAMMA RAY Spectrometer: § For Testing Steel Samples for Radiological Content § Can identify different types of Isotopes present in Steel Sample and show Results in Bq/gm § Samples Radiological content can be certified with 300 Second scan in RadLab ''Well‘’ § XRF Spectrometer: Higher range & All input/ output material can be checked and chemically analysed § Scanning Electron Microscopy and Energy Dispersive X-ray Spectroscopy (SEM-EDS): For material surface analysis, material rejection, contaminant identification, solder joint analysis etc. § Digital Optical Microscope With Elemental Analyzer: For observation, analysis and elemental analysis, allowing the status and composition of the target to be checked from its outer appearance
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Bilaspur Bangalore Chennai Rudrapur Pune Aurangabad § One Owned Warehouse § Bilaspur Haryana § Five Leased Warehouses in India § Bangalore § Chennai § Rudrapur § Pune § Aurangabad
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State of Art Manufacturing Facilities and advanced R&D Capabilities § Well equipped with latest upgraded Technology Machines Diversified Product offerings § Manufactures diverse range of products with wide applications across sectors § Further expanding product offerings to increase wallet share with existing customers and adding new clients Rich Management Experience § Dynamic & rich experience in special steel sector § Diverse team with right mix of operational & technical expertise along with dedicated and skilled employee base Quality Standards & Assurance § Adherence to quality standards across all stages of manufacturing § Checked for dimensional accuracy & temper at every stage § Well equipped modern testing facilities to check for physical, mechanical & chemical properties Brand Image § Continuous brand building exercise by providing excellent services to satisfy our customers
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Cars Two Wheelers HCL/LCVs Auto Components Tractors Off Highway Vehicles
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Taiwan Thailand Russia Turkey Germany Japan Italy Vietnam 3% of H1 FY26 sales from exports
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§ CCL - US based Organisation – offers leadership programs across 160 countries, FT top10 in executive education with 500K alumni over 50 years § Customized leadership training for 12 senior management § Training programs – functional, attitudinal, skill development, quality – across all levels of employees § Specialized & customized programs § New Initiative undertaken § Formalized training programs that focus on technical knowledge, enhance skill sets and productive efficiencies of personnel Centre for Creative Leadership ‘Manav Vikas Kendra’ ‘EKLAVYA - B.Sc. to B. Tech.’
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Phase - 1 Phase - 2 § Technology and technical know how shared with VSSL to make steel for Toyota companies and other OEM’s § To raise quality of steel of VSSL to be supplied to future ready cars like Hybrid, Hydrogen fuel and Electric § Increase VSSL production capacity with aim to achieve high quality combined with minimum cost § Enable VSSL to build optimal global production system and customer requirements in India and ASEAN regions To make Japanese quality steel in India for Indian auto majors and ASEAN region To reduce manufacturing costs by reducing and eliminating waste TARGET Phase - 3 Setting up new Greenfield steel plant in the state of Punjab Aichi increases its stake in VSSL from 11.33% to 24.90% marking a decisive shift from being a passive strat egic investor to a deeply integrated partner in VSSL’s g rowth story. Planned capacity is 5,00,000 MT per annum of billet production with commensurate Rolling Mill and testi ng fa c i l i t i e s . T h e n e w c a p a c i t y i s e x p e c t e d t o b e commissioned by FY 2029–30. The project aligns with trends such as Green Steel and the Circular Economy, which are expected to boost demand through the Electric Arc Furnace (EAF) route. The company also aims to diversify into new product segments such as wire rods, forging, and the non- automotive sector .
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§ Future Ready products - Patent steel grades developed for special application in EV’s, hybrid and conventional cars § Own In House R&D – Toyota Car Company takes input from Aichi on special steel to be developed car parts. It means we can target more approvals for VSSL in Maruti Suzuki and Toyota § More customers for Vardhman in India and ASEAN region § Export expected to increase from current 5% in FY22 to 20% - 25% by FY27 § Ministry of Environment grants Environmental Clearance for expansion from 2,00,000 MT per annum to 2,80,000 MT per annum of rolled capacity § Forward Integration of VSSL into specialised Forging plant in India 118 220 250 300 < Steel Production Volume > 300,000 MT FY20~22 FY23~25 FY26~28 200,000 MT 250,000 MT Possibilities Road map of production volume (billets)
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Phase 3 Take Japanese approvals like Yamaha, Mushashi, JTEKT , Toyota, Aichi Forge, Suzuki, Hino Motors • Initiate CAPEX to increase production capacity to 250,000 MT in first phase • FY 23: Year of manufacturing of Trial orders for Aichi • Anticipate to receive orders from Aichi for Southeast Asia as well as import substitutions ü Joins hands with ASC to start mass production in Mar’23 • FY 24: Start supply of products against firm orders for Aichi • Vardhman may look forward to Forging business in India • Time for Aichi to Invest more in Vardhman • VSSL AICHI may lay foundation for future steel company in India Export 60,000 MT / year Production 300,000MT / year Phase 2 • Continuous improvement in quality and productivity by strengthening existing procedures • Focus on Improving safety levels • Start marketing to customers in India, Thailand, Philippines and Indonesia • FY 2021-22 – Year of Sampling for Aichi Phase 1 2019-2022 2022-2025 2025-2028 Goal 2030 VSSL to emerge as #1 Special Steels’ Manufacturer in India
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Environment • Committed towards cleaner, greener and healthier environment by implementing stringent standards & policies for Environment in our unit • Making steel through Electric Arc Furnace route which is significantly more environment friendly than Blast Furnace route. Most of our competitors are making steel through Blast Furnace route • In 2015, installed Secondary Fume Extraction system with investment of Rs. 12 crores, to capture dust going into air. Its annual operational cost is approximately Rs. 5 crores • On our journey of expanding production capacity from existing 2 lac TPA to 2.80 lac TPA, we are also leaping step forward in tightening our norms towards environment protection. These include development of Greenbelt of over 33% existing land area, emissions below 30 ppm against 150 ppm followed by most of our competitors, zero liquid discharge and reduction of substantial water extraction even after expansion. Apart from this, we are developing forest on 5 acres of land owned by Vardhman Textiles Ltd. situated at middle of Focal Point, Ludhiana with Japanese technique known as “Miyawaki”. This will be unique facility on such large area for benefit of environment and society at large. All this will be done with total capital outlay of over Rs. 30 crores • Aspire to plant 1,000 acres of forest in next 15 years in Punjab • Plan to replace Furnace Oil with Natural Gas (being Greener Fuel), thus reducing load of carbon emissions going into environment • Trees are planted every year to increase green area in and around factory, planted over 52,000 trees till March 2023 and also undertaken parks and other areas for development • Focusing on water conservation by recharging water through 7 rainwater harvesting pits in factory and adopted more than 10 ponds for desilting • Install renewable solar power plants in next 2-3 years to reduce carbon footprint • Target – to bring down carbon footprint below 0.5 by 2030 and 0 by 2050, well ahead of India’s target of net 0 by 2070 • Disposing all types of wastes being generated in factory through agencies duly approved by Pollution Control Board Social Support principles of inclusive growth and equitable development through CSR initiatives for sustainable development in core business activities We have made several contributions towards: (i) Preventive & Promoting Healthcare and Sanitation (ii)Towards Environment sustainability (iii) For Promoting Education (iv) Towards Women Empowerment (v)Towards socially and economically backward groups
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Have In-house oxygen generation plants for our capt ive consumption. During Covid time, we had served s ociety by supplying oxygen cylinders. During 2nd wave of Covid, we have been able to serve for 50% requirement of oxygen of Ludhiana city Employee well being: ü We hadn’t laid off anyone during Covid time, rather we had paid full salaries to our employees and ensured full payment to our contract workers. Apart from this, we had given tim ely increments, production incentives and above all distributed one time incentive for hard work done by entire team during tough times of Covid ü In current year, we had developed well-equipped Health Fitness Centre in campus managed by professional trainer ü We have launched 3 welfare policies in current year: Ø Chalo Ghar Bhi Banaye (Housing loan scheme) Ø Main Hoon Naa (Taking care of education of children on unfortunate demise of our employee till graduation irrespective of any College/University) Ø Vidwaan Bano (Scholarship of Rs. 50,000/- to outstanding children of our employees) We are having strong Women Grievance handling mechanism in place We have various unique facilities and schemes for b enefit of employees such as single roof canteen ser ving same food from Worker to MD Two full time Doctors posted in campus, promoting T rekking, Meditation in Vipasana or equivalent, help ing to maintain BMI and more Governance M/S B S R & Co LLP, affiliate of KPMG, Chartered Accountants are our Statutory Auditors. We are led by strong Board consisting of 11 members out of which 6 are independent directors. Chairper son is non-executive independent director. Our Board includes two women directors, out of which one is independent director. Aichi Steel Corporation Japan, main steel supplier to Toyota Group had selected us as their partner an d entered strategic alliance in 2019 along with equity participation in VSSL and have seat on the Board
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VSSL VSSL IN VARM.BO534392 For further information, please contact Mrs. Disha Shah +91 9699060134 disha.shah@adfactorspr .com www.adfactorspr .com Company Vardhman Special Steels Limited Mr. Sanjeev Singla sanjeevsingla@vardhman.com www.vardhmansteel.com Investor Relations Advisors Adfactors PR Pvt. Ltd. Mr. Parth Chauhan +91 9082323003 parth.chauhan@adfactorspr .com www.adfactorspr .com