Vardhman Special Steels Ltd.

Financial

	Vardhman Special	Mukand	Sunflag Iron & Steel
Operational Metrics
Billet
Capacity Utilization - Steel Billets	91.64 %	n/a	n/a
Manufacturing Capacity- Steel Billets	260000.0 MTPA	n/a	n/a
Steel Sector
Quarterly Sales Volume - Steel	0.05 Million Tonnes	n/a	n/a
EBITDA/Tonne - Steel	11040.33 Rs/Tonne	n/a	n/a
Steel Rods
Capacity Utilization - Steel Rods	94.05 %	n/a	n/a
Manufacuring Capacity - Steel Rods	200000.0 MTPA	n/a	n/a
Realization/Tonne - Steel Rods	84310.6 Rs/MT	n/a	n/a
Financials
5 yr Average ROE	10.07 %	-9.18 %	14.67 %
5yr average Equity Multiplier	1.93	5.49	1.69
5yr Average Asset Turnover Ratio	1.29	1.09	0.87
5yr Avg Net Profit Margin	4.05 %	-2.39 %	11.54 %
Price to Book	3.36	2.96	0.83
P/E	26.39	13.1	28.08
5yr Avg Cash Conversion Cycle	66.21 Days	83.02 Days	67.44 Days
Inventory Days	76.1 Days	129.22 Days	95.42 Days
Days Receivable	50.85 Days	31.31 Days	30.33 Days
Days Payable	64.47 Days	63.19 Days	58.67 Days
5yr Average Interest Coverage Ratio	5.2	1.08	8.48
5yr Avg ROCE	14.73 %	11.05 %	12.03 %
5yr Avg Operating Profit Margin	9.92 %	7.61 %	12.73 %
5 yr average Debt to Equity	0.5	3.25	0.24
5yr CAGR Net Profit	35.23 %	n/a	58.85 %
5yr Average Return on Assets	5.51 %	-0.74 %	9.1 %
Shareholdings
Promoter Holding	60.56 %	74.7 %	51.16 %
Share Pledged by Promoters	0.0	0.0	0.0
Change in Promoter Holding (3 Yrs)	-0.17 %	0.35 %	0.0
Change in Mutual Fund Holding (3 Yrs)	-1.73 %	0.46 %	0.06 %

Business

	Vardhman Special	Mukand	Sunflag Iron & Steel
Product Wise Break-Up	Product Wise Break-Up Black bars 73.6 Bright Bars 26.4 Stainless Steel Products 0 Special Alloy Steel Products 0 0	Product Wise Break-Up 0 Stainless Steel 50.65 Special Alloy Steel Products 39.44 Bright Bars 0 Black bars 0 Others 9.91	Product Wise Break-Up Steel & Steel Products ( Rolled Products ) 100.0 Stainless Steel Products 0 Special Alloy Steel Products 0 Bright Bars 0 Black bars 0
Location Wise Break-Up	Location Wise Break-Up India 95.07 Rest of the World 4.93	Location Wise Break-Up Rest of the World 0 India 91.2 Others 8.8	Location Wise Break-Up Rest of the World 0 India 100.0
Verticals	Verticals 4 Wheeler 38.0 2 Wheeler 32.0 Commercial Vehicles 20.0 Engg & Off Highway 10.0 Bearings 0	-	-