Reported Earnings • Apr 30
Full year 2026 earnings released: EPS: ₹13.15 (vs ₹11.40 in FY 2025) Full year 2026 results: EPS: ₹13.15 (up from ₹11.40 in FY 2025). Revenue: ₹18.0b (up 1.8% from FY 2025). Net income: ₹1.22b (up 31% from FY 2025). Profit margin: 6.8% (up from 5.3% in FY 2025). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Apr 21
Vardhman Special Steels Limited to Report Fiscal Year 2026 Results on Apr 28, 2026 Vardhman Special Steels Limited announced that they will report fiscal year 2026 results at 12:08 PM, Indian Standard Time on Apr 28, 2026 Reported Earnings • Jan 21
Third quarter 2026 earnings released: EPS: ₹3.48 (vs ₹2.63 in 3Q 2025) Third quarter 2026 results: EPS: ₹3.48 (up from ₹2.63 in 3Q 2025). Revenue: ₹4.44b (up 4.0% from 3Q 2025). Net income: ₹335.9m (up 56% from 3Q 2025). Profit margin: 7.6% (up from 5.0% in 3Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Tillkännagivande • Jan 14
Vardhman Special Steels Limited to Report Q3, 2026 Results on Jan 20, 2026 Vardhman Special Steels Limited announced that they will report Q3, 2026 results on Jan 20, 2026 Reported Earnings • Oct 29
Second quarter 2026 earnings released: EPS: ₹3.61 (vs ₹3.17 in 2Q 2025) Second quarter 2026 results: EPS: ₹3.61 (up from ₹3.17 in 2Q 2025). Revenue: ₹4.32b (down 13% from 2Q 2025). Net income: ₹345.6m (up 34% from 2Q 2025). Profit margin: 8.0% (up from 5.2% in 2Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 33% per year, which means it is well ahead of earnings. Tillkännagivande • Oct 16
Vardhman Special Steels Limited to Report Q2, 2026 Results on Oct 28, 2025 Vardhman Special Steels Limited announced that they will report Q2, 2026 results on Oct 28, 2025 Tillkännagivande • Sep 26
Vardhman Special Steels Limited Retirement of Rajeev Gupta, Non-Executive Non-Independent Director Vardhman Special Steels Limited in the 15th annual general meeting held on September 24th, 2025 approved not to fill the vacancy caused due to retirement by rotation of Mr. Rajeev Gupta, Non-Executive Non-Independent Director of the Company. Tillkännagivande • Sep 03
Vardhman Special Steels Limited, Annual General Meeting, Sep 24, 2025 Vardhman Special Steels Limited, Annual General Meeting, Sep 24, 2025, at 10:00 Indian Standard Time. Reported Earnings • Jul 26
First quarter 2026 earnings released: EPS: ₹2.43 (vs ₹3.20 in 1Q 2025) First quarter 2026 results: EPS: ₹2.43 (down from ₹3.20 in 1Q 2025). Revenue: ₹4.34b (up 4.6% from 1Q 2025). Net income: ₹199.0m (down 24% from 1Q 2025). Profit margin: 4.6% (down from 6.3% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 29% per year, which means it is well ahead of earnings. Tillkännagivande • Jul 22
Vardhman Special Steels Limited to Report Q1, 2026 Results on Jul 25, 2025 Vardhman Special Steels Limited announced that they will report Q1, 2026 results on Jul 25, 2025 New Risk • Jun 27
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.0% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.0% average weekly change). Minor Risks Dividend is not well covered by cash flows (358% cash payout ratio). Shareholders have been diluted in the past year (18% increase in shares outstanding). Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹248, the stock trades at a trailing P/E ratio of 21.8x. Average trailing P/E is 21x in the Metals and Mining industry in India. Total returns to shareholders of 106% over the past three years. New Risk • Apr 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (303% cash payout ratio). Share price has been volatile over the past 3 months (8.7% average weekly change). Reported Earnings • Apr 23
Full year 2025 earnings released: EPS: ₹11.40 (vs ₹11.26 in FY 2024) Full year 2025 results: EPS: ₹11.40 (up from ₹11.26 in FY 2024). Revenue: ₹17.9b (up 8.0% from FY 2024). Net income: ₹930.9m (up 1.6% from FY 2024). Profit margin: 5.2% (down from 5.5% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. Tillkännagivande • Apr 15
Vardhman Special Steels Limited to Report Fiscal Year 2025 Results on Apr 22, 2025 Vardhman Special Steels Limited announced that they will report fiscal year 2025 results on Apr 22, 2025 Reported Earnings • Jan 30
Third quarter 2025 earnings released: EPS: ₹2.63 (vs ₹2.68 in 3Q 2024) Third quarter 2025 results: EPS: ₹2.63 (down from ₹2.68 in 3Q 2024). Revenue: ₹4.34b (up 9.1% from 3Q 2024). Net income: ₹214.6m (down 1.6% from 3Q 2024). Profit margin: 4.9% (down from 5.5% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Tillkännagivande • Jan 29
Vardhman Special Steels Limited Appoints Arghya Ghoshal as Head of Production Department Vardhman Special Steels Limited announced that Mr. Arghya Ghoshal, presently working as Vice-President, Department of Manufacturing: Excellence, has been appointed as Senior Management Personnel, designated as Head of Production Department of the Unit of the Company, by the Board of Directors of the Company in its meeting held on January 29, 2025, on the recommendation of the Nomination and Remuneration Committee. Mr. Arghya Ghoshal aged 51 years, is a Bachelor of Technology (Metallurgy) from National Institute of Technology, Jamshedpur. Mr. Ghoshal has a rich experience of more than 27 years in Steel Industry. Prior to joining the Company, he has worked with the organizations like Essar Steel Limited/AMNS India and JSW Bhushan Power and Steel Limited Works, where he held key positions like Head -- Technology Functions for Steel Making Plant, Head Operations & Maintenance - Melt Shop for Steel Making Plant, General Manager (0&M), etc. Tillkännagivande • Jan 20
Vardhman Special Steels Limited to Report Q3, 2025 Results on Jan 29, 2025 Vardhman Special Steels Limited announced that they will report Q3, 2025 results at 9:08 AM, Indian Standard Time on Jan 29, 2025 Tillkännagivande • Dec 14
Vardhman Special Steels Limited Approves Appointment of Randhir Singh Kalsi as Independent Director Vardhman Special Steels Limited approved the appointment of Mr. Randhir Singh Kalsi as an independent director of the company through Postal Ballot. Reported Earnings • Nov 08
Second quarter 2025 earnings released: EPS: ₹3.17 (vs ₹2.27 in 2Q 2024) Second quarter 2025 results: EPS: ₹3.17 (up from ₹2.27 in 2Q 2024). Revenue: ₹5.04b (up 21% from 2Q 2024). Net income: ₹258.2m (up 40% from 2Q 2024). Profit margin: 5.1% (up from 4.4% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Tillkännagivande • Oct 31
Vardhman Special Steels Limited to Report Q2, 2025 Results on Nov 07, 2024 Vardhman Special Steels Limited announced that they will report Q2, 2025 results on Nov 07, 2024 Tillkännagivande • Sep 20
Vardhman Special Steels Limited Appoints Hemant Bharat Ram as an Independent Director Vardhman Special Steels Limited announced that at the AGM held on 19 September, 2024, approved the appointment of Mr. Hemant Bharat Ram as an Independent Director of the Company. Declared Dividend • Aug 30
Dividend of ₹2.00 announced Shareholders will receive a dividend of ₹2.00. Ex-date: 6th September 2024 Payment date: 19th October 2024 Dividend yield will be 0.7%, which is lower than the industry average of 6.1%. Sustainability & Growth Dividend is well covered by both earnings (18% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has increased by an average of 39% per year over the past 3 years. However, payments have been volatile during that time. Earnings per share has grown by 43% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Tillkännagivande • Aug 29
Vardhman Special Steels Limited, Annual General Meeting, Sep 19, 2024 Vardhman Special Steels Limited, Annual General Meeting, Sep 19, 2024, at 10:00 Indian Standard Time. Reported Earnings • Jul 26
First quarter 2025 earnings released: EPS: ₹3.20 (vs ₹2.29 in 1Q 2024) First quarter 2025 results: EPS: ₹3.20 (up from ₹2.29 in 1Q 2024). Revenue: ₹4.20b (up 2.7% from 1Q 2024). Net income: ₹260.8m (up 40% from 1Q 2024). Profit margin: 6.2% (up from 4.5% in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 31% per year, which means it is well ahead of earnings. Tillkännagivande • Jul 17
Vardhman Special Steels Limited to Report Q1, 2025 Results on Jul 25, 2024 Vardhman Special Steels Limited announced that they will report Q1, 2025 results on Jul 25, 2024 Valuation Update With 7 Day Price Move • May 14
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹304, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 16x in the Metals and Mining industry in India. Total returns to shareholders of 207% over the past three years. Reported Earnings • May 05
Full year 2024 earnings released: EPS: ₹11.26 (vs ₹12.38 in FY 2023) Full year 2024 results: EPS: ₹11.26 (down from ₹12.38 in FY 2023). Revenue: ₹16.6b (down 4.2% from FY 2023). Net income: ₹916.3m (down 8.8% from FY 2023). Profit margin: 5.5% (down from 5.8% in FY 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 9.5% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Apr 24
Vardhman Special Steels Limited to Report Fiscal Year 2024 Results on May 01, 2024 Vardhman Special Steels Limited announced that they will report fiscal year 2024 results on May 01, 2024 Valuation Update With 7 Day Price Move • Apr 23
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹260, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 17x in the Metals and Mining industry in India. Total returns to shareholders of 197% over the past three years. New Risk • Feb 03
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.4% Last year net profit margin: 7.0% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.4% net profit margin). Reported Earnings • Feb 03
Third quarter 2024 earnings released: EPS: ₹2.68 (vs ₹3.51 in 3Q 2023) Third quarter 2024 results: EPS: ₹2.68 (down from ₹3.51 in 3Q 2023). Revenue: ₹4.06b (up 1.3% from 3Q 2023). Net income: ₹218.1m (down 23% from 3Q 2023). Profit margin: 5.4% (down from 7.1% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 53% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Jan 19
Vardhman Special Steels Limited to Report Q3, 2024 Results on Feb 02, 2024 Vardhman Special Steels Limited announced that they will report Q3, 2024 results on Feb 02, 2024 Reported Earnings • Nov 08
Second quarter 2024 earnings released: EPS: ₹2.27 (vs ₹3.45 in 2Q 2023) Second quarter 2024 results: EPS: ₹2.27 (down from ₹3.45 in 2Q 2023). Revenue: ₹4.21b (down 5.0% from 2Q 2023). Net income: ₹184.6m (down 34% from 2Q 2023). Profit margin: 4.4% (down from 6.3% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has increased by 74% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Oct 26
Vardhman Special Steels Limited to Report Q2, 2024 Results on Nov 07, 2023 Vardhman Special Steels Limited announced that they will report Q2, 2024 results on Nov 07, 2023 Upcoming Dividend • Sep 08
Upcoming dividend of ₹2.00 per share at 0.5% yield Eligible shareholders must have bought the stock before 15 September 2023. Payment date: 27 October 2023. Payout ratio is a comfortable 8.1% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of Indian dividend payers (1.3%). Lower than average of industry peers (7.0%). Tillkännagivande • Sep 07
Vardhman Special Steels Limited, Annual General Meeting, Sep 27, 2023 Vardhman Special Steels Limited, Annual General Meeting, Sep 27, 2023, at 10:30 Indian Standard Time. Agenda: To receive, consider and adopt the Audited Financial Statements of the Company for the financial year ended 31st March, 2023, together with Report of Board of Directors and Auditors thereon; to consider and declare a dividend of INR 2/- per equity share for the year ended 31st March, 2023; to consider and appoint a Director in place of Mrs. Suchita Jain, who retires by rotation in terms of Section 152(6) of the Companies Act, 2013 and being eligible, offers herself for re-appointment; to consider and appoint a Director in place of Mr. Rajendar Kumar Rewari, who retires by rotation in terms of Section 152(6) of the Companies Act, 2013 and being eligible, offers himself for re-appointment; to consider and resolve not to fill the vacancy caused due to retirement by rotation of Mr. B.K. Choudhary, Non-Executive Director of the Company; and to consider other business matters. Valuation Update With 7 Day Price Move • Aug 22
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹217, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 12x in the Metals and Mining industry in India. Total returns to shareholders of 494% over the past three years. Reported Earnings • Aug 03
First quarter 2024 earnings released: EPS: ₹2.29 (vs ₹3.74 in 1Q 2023) First quarter 2024 results: EPS: ₹2.29 (down from ₹3.74 in 1Q 2023). Revenue: ₹4.17b (down 11% from 1Q 2023). Net income: ₹185.7m (down 39% from 1Q 2023). Profit margin: 4.5% (down from 6.5% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 5.4% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has increased by 85% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Jul 24
Vardhman Special Steels Limited to Report Q1, 2024 Results on Aug 02, 2023 Vardhman Special Steels Limited announced that they will report Q1, 2024 results on Aug 02, 2023 Reported Earnings • Apr 29
Full year 2023 earnings released: EPS: ₹24.76 (vs ₹24.87 in FY 2022) Full year 2023 results: EPS: ₹24.76 (down from ₹24.87 in FY 2022). Revenue: ₹17.7b (up 30% from FY 2022). Net income: ₹1.00b (flat on FY 2022). Profit margin: 5.7% (down from 7.4% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has increased by 100% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jan 31
Third quarter 2023 earnings released: EPS: ₹7.02 (vs ₹4.81 in 3Q 2022) Third quarter 2023 results: EPS: ₹7.02 (up from ₹4.81 in 3Q 2022). Revenue: ₹4.14b (up 15% from 3Q 2022). Net income: ₹284.7m (up 46% from 3Q 2022). Profit margin: 6.9% (up from 5.4% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 62% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Jan 20
Vardhman Special Steels Limited to Report Q3, 2023 Results on Jan 30, 2023 Vardhman Special Steels Limited announced that they will report Q3, 2023 results on Jan 30, 2023 Tillkännagivande • Jan 03
Vardhman Special Steels Limited Announces Resignation of Shubhra Bhattacharya as Independent Director Vardhman Special Steels Limited announced that Mrs. Shubhra Bhattacharya, Independent Director of the Company, has resigned from the Board of the Company with effect from January 2, 2023, due to personal and other professional commitments. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improved over the past week After last week's 19% share price gain to ₹315, the stock trades at a trailing P/E ratio of 11.9x. Average trailing P/E is 14x in the Metals and Mining industry in India. Total returns to shareholders of 408% over the past three years. Price Target Changed • Nov 16
Price target decreased to ₹250 Down from ₹300, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of ₹254. Stock is down 2.2% over the past year. The company posted earnings per share of ₹24.87 last year. Reported Earnings • Nov 07
Second quarter 2023 earnings released: EPS: ₹6.90 (vs ₹6.00 in 2Q 2022) Second quarter 2023 results: EPS: ₹6.90 (up from ₹6.00 in 2Q 2022). Revenue: ₹4.43b (up 32% from 2Q 2022). Net income: ₹280.1m (up 15% from 2Q 2022). Profit margin: 6.3% (down from 7.2% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 59% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 26
First quarter 2023 earnings released: EPS: ₹7.47 (vs ₹6.86 in 1Q 2022) First quarter 2023 results: EPS: ₹7.47 (up from ₹6.86 in 1Q 2022). Revenue: ₹4.75b (up 44% from 1Q 2022). Net income: ₹303.0m (up 9.0% from 1Q 2022). Profit margin: 6.4% (down from 8.4% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 49% per year, which means it is significantly lagging earnings growth. Board Change • Jun 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 6 highly experienced directors. Additional Non-Executive Director Takashi Ishigami was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 01
Full year 2022 earnings released: EPS: ₹24.87 (vs ₹10.94 in FY 2021) Full year 2022 results: EPS: ₹24.87 (up from ₹10.94 in FY 2021). Revenue: ₹14.0b (up 49% from FY 2021). Net income: ₹1.01b (up 128% from FY 2021). Profit margin: 7.2% (up from 4.7% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jan 30
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹4.81 (down from ₹5.36 in 3Q 2021). Revenue: ₹3.61b (up 26% from 3Q 2021). Net income: ₹194.7m (down 10% from 3Q 2021). Profit margin: 5.4% (down from 7.5% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 44% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment improved over the past week After last week's 16% share price gain to ₹254, the stock trades at a trailing P/E ratio of 9x. Average trailing P/E is 12x in the Metals and Mining industry in India. Total returns to shareholders of 165% over the past three years. Reported Earnings • Oct 27
Second quarter 2022 earnings released: EPS ₹6.00 (vs ₹2.21 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: ₹3.36b (up 36% from 2Q 2021). Net income: ₹242.9m (up 172% from 2Q 2021). Profit margin: 7.2% (up from 3.6% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 05
First quarter 2022 earnings released: EPS ₹6.86 (vs ₹3.16 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: ₹3.33b (up 390% from 1Q 2021). Net income: ₹278.0m (up ₹405.7m from 1Q 2021). Profit margin: 8.4% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Jun 26
Vice Chairman & MD recently bought ₹2.6m worth of stock On the 23rd of June, Sachit Jain bought around 12k shares on-market at roughly ₹216 per share. In the last 3 months, they made an even bigger purchase worth ₹3.0m. Sachit has been a buyer over the last 12 months, purchasing a net total of ₹85m worth in shares. Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment improved over the past week After last week's 15% share price gain to ₹242, the stock trades at a trailing P/E ratio of 22.2x. Average trailing P/E is 16x in the Metals and Mining industry in India. Total returns to shareholders of 102% over the past three years. Recent Insider Transactions • May 29
Vice Chairman & MD recently bought ₹590k worth of stock On the 27th of May, Sachit Jain bought around 3k shares on-market at roughly ₹197 per share. In the last 3 months, they made an even bigger purchase worth ₹34m. Sachit has been a buyer over the last 12 months, purchasing a net total of ₹74m worth in shares. Reported Earnings • May 16
Full year 2021 earnings released: EPS ₹10.94 (vs ₹0.89 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹9.50b (up 12% from FY 2020). Net income: ₹441.9m (up ₹408.5m from FY 2020). Profit margin: 4.7% (up from 0.4% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 30
Investor sentiment improved over the past week After last week's 30% share price gain to ₹208, the stock trades at a trailing P/E ratio of 35.3x. Average trailing P/E is 16x in the Metals and Mining industry in India. Total returns to shareholders of 55% over the past three years. Recent Insider Transactions • Mar 31
Vice Chairman & MD recently bought ₹145k worth of stock On the 23rd of March, Sachit Jain bought around 1k shares on-market at roughly ₹145 per share. In the last 3 months, they made an even bigger purchase worth ₹34m. Sachit has been a buyer over the last 12 months, purchasing a net total of ₹73m worth in shares. Recent Insider Transactions • Mar 12
Vice Chairman & MD recently bought ₹845k worth of stock On the 5th of March, Sachit Jain bought around 5k shares on-market at roughly ₹165 per share. In the last 3 months, they made an even bigger purchase worth ₹2.9m. Sachit has been a buyer over the last 12 months, purchasing a net total of ₹39m worth in shares. Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment improved over the past week After last week's 16% share price gain to ₹169, the stock is trading at a trailing P/E ratio of 31.4x, up from the previous P/E ratio of 27.1x. This compares to an average P/E of 15x in the Metals and Mining industry in India. Total returns to shareholders over the past three years are 8.8%. Is New 90 Day High Low • Feb 12
New 90-day high: ₹134 The company is up 62% from its price of ₹82.80 on 14 November 2020. The Indian market is up 22% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 37% over the same period. Recent Insider Transactions • Feb 01
Vice Chairman & MD recently bought ₹826k worth of stock On the 28th of January, Sachit Jain bought around 7k shares on-market at roughly ₹118 per share. In the last 3 months, they made an even bigger purchase worth ₹2.3m. Sachit has been a buyer over the last 12 months, purchasing a net total of ₹24m worth in shares. Reported Earnings • Jan 20
Third quarter 2021 earnings released: EPS ₹5.36 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₹2.91b (up 55% from 3Q 2020). Net income: ₹216.7m (up ₹198.6m from 3Q 2020). Profit margin: 7.5% (up from 1.0% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 68% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Recent Insider Transactions • Jan 06
Vice Chairman & MD recently bought ₹1.5m worth of stock On the 30th of December, Sachit Jain bought around 13k shares on-market at roughly ₹122 per share. In the last 3 months, they made an even bigger purchase worth ₹2.3m. Sachit has been a buyer over the last 12 months, purchasing a net total of ₹24m worth in shares. Is New 90 Day High Low • Jan 06
New 90-day high: ₹131 The company is up 78% from its price of ₹73.80 on 08 October 2020. The Indian market is up 21% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 44% over the same period. Is New 90 Day High Low • Dec 18
New 90-day high: ₹125 The company is up 60% from its price of ₹78.10 on 18 September 2020. The Indian market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 29% over the same period. Recent Insider Transactions • Dec 06
Vice Chairman & MD recently bought ₹211k worth of stock On the 3rd of December, Sachit Jain bought around 2k shares on-market at roughly ₹106 per share. In the last 3 months, they made an even bigger purchase worth ₹2.3m. Sachit has been a buyer over the last 12 months, purchasing a net total of ₹14m worth in shares. Is New 90 Day High Low • Nov 27
New 90-day high: ₹105 The company is up 41% from its price of ₹74.10 on 28 August 2020. The Indian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 10.0% over the same period. Recent Insider Transactions • Nov 27
Vice Chairman & MD recently bought ₹2.3m worth of stock On the 18th of November, Sachit Jain bought around 26k shares on-market at roughly ₹87.12 per share. This was the largest purchase by an insider in the last 3 months. Sachit has been a buyer over the last 12 months, purchasing a net total of ₹13m worth in shares.