Vardhman Special Steels Limited Reports Audited Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2018; Provides Production and Earnings Guidance for First Half and Full Year of 2019 and Fiscal 2020
April 28, 2018 at 08:22 am EDT
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Vardhman Special Steels Limited reported audited earnings results for the fourth quarter and full year ended March 31, 2018. For the quarter, the company reported total income from operations was INR 2,336.5 million compared with INR 1,967.9 million a year ago. Profit before tax was INR 72.7 million compared with INR 47.3 million a year ago. Net profit after tax was INR 72.1 million or INR 2.15 per basic and diluted share compared with INR 47.3 million or INR 1.93 per basic and diluted share a year ago. EBITDA without other income INR 170 million.
For the year, the company reported total income from operations was INR 8,839.9 million compared with INR 7,587.7 million a year ago. Profit before tax was INR 250.9 million compared with INR 191.4 million a year ago. Net profit after tax was INR 250.3 million or INR 7.88 per basic and diluted share compared with INR 189.1 million or INR 7.80 per diluted share a year ago.
For the first half year of 2019, the company expects profitability could be bit lower but it will be higher than the first half of previous year, because the raw materials cost have risen much more than what anticipated. Rearding volume guidance, it will catch up from October 1, 2018; so second half would be better than second half of last year.
For the fiscal 2019, the company volume guidance expected to be 165,000 to 17,000.
For the fiscal 2020, the company volume guidance expected to be 200,000 tonnes.
For the fiscal 2020, the company expects around tax of 20%.
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.
Vardhman Special Steels Limited Reports Audited Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2018; Provides Production and Earnings Guidance for First Half and Full Year of 2019 and Fiscal 2020