Vardhman Special Steels Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
November 07, 2023 at 03:13 am EST
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Vardhman Special Steels Limited reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was INR 4,151.89 million compared to INR 4,431.64 million a year ago. Revenue was INR 4,208.1 million compared to INR 4,573.67 million a year ago. Net income was INR 184.59 million compared to INR 280.1 million a year ago. Basic earnings per share from continuing operations was INR 2.27 compared to INR 3.45 a year ago. Diluted earnings per share from continuing operations was INR 2.27 compared to INR 3.43 a year ago.
For the six months, sales was INR 8,245.46 million compared to INR 9,123.27 million a year ago. Revenue was INR 8,374.08 million compared to INR 9,324.42 million a year ago. Net income was INR 370.3 million compared to INR 583.06 million a year ago. Basic earnings per share from continuing operations was INR 4.56 compared to INR 7.19 a year ago. Diluted earnings per share from continuing operations was INR 4.54 compared to INR 7.14 a year ago.
Vardhman Special Steels Limited is an India-based company engaged in the business of manufacturing special and alloy steels. The Company is engaged in producing high-grade billets and hot-rolled bars for varied applications in engineering, automotive, tractor, bearing and allied industries. It produces a variety of steels in terms of type and size. The Company offers products, such as hot rolled, round corner square, peeled and reeled bars, peeled and ground bars, drawn and ground bars, and heat treatment bars. The Company also offers Carbon Steel, Carbon Manganese Steel, Case Hardening Steel, Chrome Steel, Chrome Manganese Steel, Chrome-Moly Steel, Nickel Chrome / Nickel Chrome Moly Steel, Through Hardening Steel, Boron Steel, Micro Alloyed Steel, Vanadium Steel, Nitriding Steel, Ball Bearing Steel, Free/Semi Free Cutting Steel, Spring Steel and High Titanium Steel. It manufactures products using technologies, such as Steel Melting, Bright Bar, Rolling Mill and Heat Treatment.