Iron & Steel Products company Vardhman Special Steels announced Q2FY26 results The volumes for the quarter stood at 55,536 tonnes as against 59,018 (only rolled products) tonnes in Q2FY25. Revenue from Operations stood at Rs 432.27 crore in Q2FY26, as against Rs 494.82 crore in Q2FY25, decrease of 12.64% YoY mainly due to reduction in volumes and lower realisations. EBITDA (including other income) for the quarter was Rs 56.48 crore as against Rs 48.45 crore in Q2FY25, increasing by 16.58% mainly on account of lower raw material prices and increase in Other income on account of interest received on fixed deposits of unutilized amount invested by Aichi Steel Corporation. EBITDA per Ton for the quarter was Rs 10,170. Q2 FY26 PAT stood at Rs 34.56 crore as against PAT of Rs 25.82 crore in Q2FY25. This increase is attributable partly due to the reasons mentioned above & partly due to reduction in finance cost. EPS for the quarter stood at Rs 3.61 vs Rs 3.17 in Q2FY25. Sachit Jain, Vice Chairman & Managing Director, Vardhman Special Steels, said: “Q2 FY26 was a stable quarter with total revenue of Rs 432.27 crore, EBITDA of Rs 56.48 crore, and PAT of Rs 34.56 crore. The Company achieved its EBITDA per ton of Rs 10,170, primarily driven by lower raw material costs and higher other income. Sales volume stood at 55,536 tons, with realizations remaining broadly in line with the previous quarter. In July, the Company fully repaid its long-term and short-term borrowings, resulting in a debt-free balance sheet and lower finance costs. Commercial utilization of the Kocks Block commenced during the quarter, expanding the range of rolled products and improving overall productivity. The Capex for the new reheating furnace is progressing as planned and is expected to be commissioned in the second half of the financial year, further boosting capacity and operational performance. With regards to the Rs 385 crore received by the company from Aichi Steel Corporation, Rs 150 crore were utilized to repay short-term borrowings, while the balance amount has been temporarily parked in investments.” Result PDF