Please find enclosed financial results for the quarter and year ended March 31, 2026.
VRAJ · price
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Vraj Iron and Steel reported standalone revenue of Rs 5,879.24 million for FY26, up 23.7% from Rs 4,750.31 million in FY25. However, profit after tax declined significantly to Rs 295.29 million from Rs 418.11 million in the prior year—a drop of about 29%. On consolidated basis, PAT stood at Rs 320.05 million vs Rs 440.87 million. EBITDA margin compressed from 14.3% to 11.4% despite higher absolute EBITDA of Rs 678.83 million. The statutory auditor Amitabh Agrawal & Co. issued an unmodified (clean) opinion on both standalone and consolidated results. The company operates in steel manufacturing with one reportable segment. Cash flow from operations was positive at Rs 2.81 million for the year.
Despite strong revenue growth of ~24%, the company saw a significant ~29% decline in profitability with compressed EBITDA margins, suggesting cost pressures or pricing challenges. The stock may face scrutiny over the earnings quality despite the top-line performance.