Vardhman Special Steels Limited Announces Audited Standalone Earnings Results for the Fourth Quarter and Year Ended March 31, 2015
May 02, 2015 at 07:02 am EDT
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Vardhman Special Steels Limited announced audited standalone earnings results for the fourth quarter and year ended March 31, 2015. For the quarter, the company's net sales/income from operations was INR 1,744.4 million compared with INR 1,339.8 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 60.2 million compared with INR 12.6 million a year ago. Profit from ordinary activities before tax was INR 6.9 million compared with INR 22.1 million a year ago. Net profit was INR 6.8 million or INR 0.50 per basic and diluted share compared with INR 31.4 million or INR 1.69 per basic and diluted share a year ago.
For the year, the company's net sales/income from operations was INR 6,616.0 million compared with INR 3,706.0 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 35.8 million compared with loss of INR 53.3 million a year ago. Loss from ordinary activities before tax was INR 151.2 million compared with INR 131.7 million a year ago. Net loss was INR 151.3 million or INR 8.15 per basic and diluted share compared with INR 94.2 million or INR 5.07 per basic and diluted share 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.