Name: Latest research reports of Vardhman Special Steels Ltd. authored by ICICI Securities Limited and published by - Trendlyne research reports.
Item: Vardhman Special Steels Ltd.
Rating: 5
Author: ICICI Securities Limited

Vardhman Special Steel

Buy: Vardhman Special Steels Ltd.

Target

ICICI Securities Limited

Improvement in demand from automobile sector augurs well Healthy demand from the automobile sector and from OEMs/component manufacturers aided VSSL to report a strong operational performance in Q3FY21. On the back of good demand from user industry, for Q3FY21 VSSL reported a robust EBITDA/tonne of | 8583/tonne (| 4794/tonne in Q2FY21 and | 1879/tonne in Q3FY20). This quarter's performance was beyond company's normal guided range. VSSL's EBITDA/tonne guidance is in | 5000-7000/tonne range. For 9MFY21, EBITDA/tonne came in at...