Iron & Steel Products company Vardhman Special Steels announced Q1FY26 results The volumes for the quarter stood at 55,574 tonnes (only rolled products) as against 50,298 tonnes in Q1FY25 on account of good demand. Revenue from Operations stood at Rs 433.70 crore in Q1FY26, as against Rs 414.78 crore in Q1FY25, increase of 4.56% Y-o-Y mainly due to the increase in sales volume despite lower realisations. EBITDA (including other income) for the quarter was Rs 39.33 crore as against Rs 48.04 crore in Q1FY25, decreasing by 18.13%. The decrease was primarily due to lower gross margins. EBITDA per Ton for the quarter was Rs 7,077 Q1FY26 PAT stood at Rs 19.90 crore as against PAT of Rs 26.08 crore in Q1FY25. EPS for the quarter stood at Rs 2.43 vs Rs 3.20 in Q1FY25 Sachit Jain, Vice Chairman & Managing Director, Vardhman Special Steels said, “In Q1FY26, our revenue increased by 4.93% on a year-on-year basis on account of higher volumes despite pressure on realizations. The volumes increased by 10.49%. Total revenue stood at Rs 441.20 crore, with EBITDA at Rs 39.33 crore and PAT at Rs 19.90 crore. EBITDA per ton for the quarter stood at Rs 7,077. In the first week of July, we fully repaid our long-term as well as short term borrowings, leading to a reduction in finance cost in the subsequent quarters. During the quarter under review, the Kocks Block has been successfully commissioned. The trial runs on Kocks Block are almost over and now we are waiting for approval from some of the OEs before the commercial production to begin through Kocks Block. The Capex for the reheating furnace is proceeding as per plan and we are hopeful to commission it in the second half of the financial year. I am happy to share that Aichi Steel Corporation (ASC) has increased its stake in the Company to 24.9% by investing Rs 384.91 crore. This reflects their strong trust in our partnership and confidence in the Company. It also highlights the shared long-term strategic vision of Vardhman Special Steels and Aichi Steel Corporation, which is reflected in the recently announced Greenfield expansion. Further, we have started discussions with ASC on setting up a forging facility.” Result PDF