VRAJ IRON AND STEEL LIMITED

BSE: VRAJ544204ISIN INE0S2V01010

Commodities
Sponge Iron

Share price

₹126.50+0.65 (+0.52%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹148.00
52W low: ₹93.05
Off 52W high: -14.53%
1M return: +4.55%
3M return: +1.20%
6M return: -4.56%
1Y return: -12.76%
20D avg volume: 1,136
50 DMA: ₹123.72
200 DMA: ₹123.52

Key ratios Consolidated

Market cap: ₹417.23 Cr
Current price: ₹126.50
52W high / low: ₹148.00 / ₹93.05
Face value: ₹10.00
P/E: 11.61
P/B: 0.97
EPS (TTM): ₹10.89
Book value / share: ₹130.31
ROE: —
ROCE: 8.90%
Operating margin: —
Net margin: —
Debt / equity: 0.10
Net debt: ₹40.72 Cr
Interest cover: 20.06
Dividend yield: —
Dividend / share (TTM): —
Payout: —
Cash conversion cycle: 55.3 days

Financials

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24
Income statement
	193.83	170.21	146.43	132.98	138.31	153.01	119.88	87.55	114.60	118.53
	1.59	2.45	2.20	2.00	2.03	1.07	1.09	1.19	0.47	0.93
	195.42	172.66	148.62	134.98	140.34	154.08	120.97	88.74	115.07	119.46
	182.41	153.09	147.38	125.19	130.55	140.64	110.64	75.69	95.32	102.56
	149.13	129.46	110.88	114.87	109.04	114.34	86.06	65.95	78.43	76.17
	0.09	0.06	0.00	0.14	0.00	0.00	—	0.01	0.78	—
	3.92	4.17	3.79	3.45	3.40	3.44	3.00	2.40	2.23	2.73
	0.99	0.82	0.68	0.38	0.24	0.32	0.39	0.34	0.50	0.49
	7.46	6.96	5.44	5.24	5.22	3.68	1.57	1.39	1.30	1.46
	16.19	15.97	14.25	15.47	15.05	17.25	14.91	13.11	13.13	13.47
	13.01	19.58	1.25	9.79	9.79	13.44	10.33	13.04	19.75	16.90
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	13.01	19.58	1.25	9.79	9.79	13.44	10.33	13.04	19.75	16.90
	3.28	5.55	0.25	2.61	2.47	3.54	2.83	3.38	4.98	4.30
	11.51	15.57	1.10	7.75	7.59	10.01	8.24	10.29	15.54	12.83
	3.49	4.72	0.33	2.35	2.30	3.24	2.72	3.57	6.29	5.19
Key metrics
	21.46	27.36	7.37	15.41	15.25	17.44	12.29	14.77	21.55	18.85
	11.10%	16.10%	5.00%	11.60%	11.00%	11.40%	10.30%	16.90%	18.80%	15.90%
	5.90%	9.10%	0.80%	5.80%	5.50%	6.50%	6.90%	11.80%	13.60%	10.80%
	—	4.30%	—	2.40%	—	3.40%	—	—	—	—
	40.10%	11.20%	22.10%	51.90%	20.70%	29.10%	—	—	—	—
	51.60%	55.50%	-86.70%	-24.70%	-51.20%	-22.00%	—	—	—	—

Metric	TTM	FY26	FY25	FY24
Income statement
	643.45	587.92	475.03	419.86
	8.24	8.68	3.83	4.41
	651.68	596.60	478.86	424.27
	608.07	556.19	422.30	351.65
	504.34	464.25	344.77	281.67
	0.29	0.20	0.79	2.71
	15.33	14.81	11.08	8.55
	2.87	2.12	1.55	2.43
	25.10	22.87	7.93	5.84
	61.88	60.74	58.40	52.07
	43.63	40.41	56.56	72.62
	0.00	0.00	0.00	0.00
	43.63	40.41	56.56	72.62
	11.69	10.88	14.73	18.49
	35.93	32.01	44.09	57.42
	10.89	9.70	14.28	23.22
Key metrics
	71.60	65.40	66.04	80.89
	11.13%	11.10%	13.90%	19.30%
	5.58%	5.40%	9.30%	13.70%
	—	8.90%	14.40%	—
	29.01%	23.80%	13.10%	—
	-0.55%	-27.40%	-23.20%	—
	—	22.90	9.11	—
	—	0.97	0.31	—
	—	0.10	0.00	—
	—	40.72	-0.23	—
	—	55.3	49.1	—
Balance sheet
	—	495.53	417.34	—
	—	145.38	138.43	—
	—	0.35	1.10	—
	—	32.52	21.19	—
	—	67.62	50.74	—
	—	39.24	26.33	—
	—	269.98	195.06	—
	—	11.05	8.07	—
	—	20.33	13.03	—
	—	41.07	0.87	—
	—	7.08	0.87	—
	—	33.99	0.00	—
	—	429.80	396.93	—
Cash flow
	—	31.13	13.63	—
	—	-70.11	-102.85	—
	—	38.23	90.06	—
	—	8.23	4.52	—

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24
Income statement
	193.83	170.21	146.43	132.98	138.31	153.01	119.88	87.55	114.60	118.53
	1.59	2.45	2.20	2.00	2.03	1.07	1.09	1.19	0.47	0.93
	195.42	172.66	148.62	134.98	140.34	154.08	120.97	88.74	115.07	119.46
	182.41	153.09	147.38	125.19	130.55	140.64	110.64	75.70	95.32	102.56
	149.13	129.46	110.88	114.87	109.04	114.34	86.06	65.95	78.43	76.17
	0.09	0.06	0.00	0.14	0.00	0.00	—	0.01	0.78	—
	3.92	4.17	3.79	3.45	3.40	3.44	3.00	2.40	2.23	2.73
	0.99	0.82	0.68	0.38	0.24	0.32	0.39	0.34	0.50	0.49
	7.46	6.96	5.44	5.24	5.22	3.68	1.57	1.39	1.30	1.46
	16.19	15.97	14.25	15.47	15.05	17.24	14.91	13.11	13.13	13.47
	13.01	19.58	1.25	9.79	9.79	13.44	10.33	13.04	19.75	16.90
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—
	13.01	19.58	1.25	9.79	9.79	13.44	10.33	13.04	19.75	16.90
	3.28	5.55	0.25	2.61	2.47	3.54	2.83	3.38	4.98	4.30
	9.73	14.02	1.00	7.18	7.33	9.90	7.50	9.66	14.78	12.60
	2.95	4.25	0.30	2.18	2.22	3.21	2.48	3.35	5.98	5.10
Key metrics
	21.46	27.36	7.37	15.41	15.25	17.44	12.29	14.77	21.55	18.85
	11.10%	16.10%	5.00%	11.60%	11.00%	11.40%	10.30%	16.90%	18.80%	15.90%
	5.00%	8.20%	0.70%	5.40%	5.30%	6.50%	6.30%	11.00%	12.90%	10.60%
	—	4.40%	—	2.50%	—	3.50%	—	—	—	—
	40.10%	11.20%	22.10%	51.90%	20.70%	29.10%	—	—	—	—
	32.70%	41.60%	-86.70%	-25.70%	-50.40%	-21.40%	—	—	—	—

Metric	TTM	FY26	FY25	FY24
Income statement
	643.45	587.92	475.03	419.86
	8.24	8.68	3.83	4.41
	651.68	596.60	478.86	424.27
	608.07	556.19	422.30	351.65
	504.34	464.25	344.77	281.67
	0.29	0.20	0.79	2.71
	15.33	14.81	11.08	8.55
	2.87	2.12	1.55	2.43
	25.10	22.87	7.93	5.84
	61.88	60.74	58.40	52.07
	43.63	40.41	56.56	72.62
	0.00	0.00	0.00	—
	43.63	40.41	56.56	72.62
	11.69	10.88	14.73	18.50
	31.93	29.53	41.83	54.12
	9.68	8.95	13.55	21.89
Key metrics
	71.60	65.40	66.04	80.89
	11.13%	11.10%	13.90%	19.30%
	4.96%	5.00%	8.80%	12.90%
	—	9.20%	14.80%	—
	29.01%	23.80%	13.10%	—
	-7.15%	-29.40%	-22.70%	—
	—	22.90	9.11	—
	—	1.05	0.33	—
	—	0.10	0.00	—
	—	40.72	-0.23	—
	—	55.3	49.1	—
Balance sheet
	—	480.43	404.74	—
	—	145.38	138.43	—
	—	0.35	1.10	—
	—	32.52	21.19	—
	—	67.62	50.74	—
	—	39.24	26.33	—
	—	269.98	195.06	—
	—	11.05	8.07	—
	—	20.33	13.03	—
	—	41.07	0.87	—
	—	7.08	0.87	—
	—	33.99	0.00	—
	—	414.71	384.35	—
Cash flow
	—	31.13	13.63	—
	—	-70.11	-102.85	—
	—	38.23	90.06	—
	—	8.23	4.52	—

Compounded growth

Standalone

Sales CAGR 3Y: —
Sales CAGR 5Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Sales YoY (TTM): +29.01%
Profit YoY (TTM): -7.15%

Consolidated

Sales CAGR 3Y: —
Sales CAGR 5Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Sales YoY (TTM): +29.01%
Profit YoY (TTM): -0.55%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 74.96%

Quarter	September 2026	June 2026
Promoter %	74.96%	74.96%

Holder	Type	Holding	Previous	Change
Gopal Sponge and Power Private Limited	Promoter	71.37%	71.37%	0.00%
VOLRADO VENTURE PARTNERS FUND IV GAMMA	Public	3.66%	3.66%	0.00%
Vijay Anand Jhanwar	Promoter	3.01%	3.01%	0.00%
Kusum Lata Maheshwari	Promoter	0.58%	0.58%	0.00%
Vijay Anand Jhanwar HUF	Promoter Group	0.00%	0.00%	0.00%
Vraj Jhanwar	Promoter Group	0.00%	0.00%	0.00%
Western Flock Private Limited	Promoter Group	0.00%	0.00%	0.00%
Sangita Mohta	Promoter Group	0.00%	0.00%	0.00%
Bhinaswar Commercial Private Limited	Promoter	0.00%	0.00%	0.00%
Kailash Chand Toshniwal	Promoter Group	0.00%	0.00%	0.00%
MVK Industries Private Limited	Promoter Group	0.00%	0.00%	0.00%
Vraj Commercial Private Limited	Promoter Group	0.00%	0.00%	0.00%
Deepak Lahoti	Promoter Group	0.00%	0.00%	0.00%
City Mall Developers Private Limited	Promoter Group	0.00%	0.00%	0.00%
Harpyari Devi Heda	Promoter Group	0.00%	0.00%	0.00%

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
KIOCL Limited S	20,612	339.15	529.92	1.30%	+27.42% TTM	+120.29% TTM	-20.11%
S.A.L. Steel Ltd. S	1,224	84.56	98.33	4.00%	-70.19% TTM	+176.34% TTM	+109.51%
VRAJ IRON AND STEEL LIMITED	417	126.50	11.61	8.90%	+29.01% TTM	-0.55% TTM	-12.76%
Vaswani Industries Limited S	134	40.71	-2,035.50	8.00%	+8.46% TTM	-100.52% TTM	-33.66%
Bihar Sponge Iron Ltd S	106	11.80	9.08	22.10%	-42.68% TTM	+32.39% TTM	-6.94%

Filings & corporate actions

Recent announcements

Please find enclosed intimation regarding transfer of investment.28 Oct 2026 · Company Update / General
Please find enclosed addendum of the intimation letter dated 15/10/2026.16 Oct 2026 · Company Update / General
Please find enclosed addendum of the intimation letter dated 15/10/2026.16 Oct 2026 · Company Update / General
Please find enclosed intimation regarding receipt of Terms of Reference (ToR) for the Greenfield Steel Plant project of the company.15 Oct 2026 · Company Update / General
Please find enclosed certificate received from RTA under Regulation 74(5) of the SEBI (Depositories Participants) Regulations, 2018, for the quarter ended September 30, 2026.8 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Please find enclosed intimation regarding sale of investment of the Company held in MVK Industries Private Limited.28 Sep 2026 · Company Update / General
Please find enclosed intimation letter for Closure of Trading Window for dealing in the securities of the company for Designated Persons and their relatives w.e.f. 01/10/2026.24 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
Please find enclosed combined Scrutinizer Report and Voting Results of the 22nd Annual General Meeting of the Company held on 12/09/2026.16 Sep 2026 · AGM/EGM / AGM
Please find enclosed proceeding of 22nd AGM of Vraj Iron and Steel Limited, held on Saturday, 12 September 2026 at 01:00 PM.12 Sep 2026 · AGM/EGM / AGM
Please find enclosed intimation letter of Transfer of EC received from MoEF&CC by the company under proposed greenfield project.31 Aug 2026 · Company Update / General
Please find enclosed letter sent to the shareholders for providing weblink and exact path of annual report under Regulation 36(1)(b)24 Aug 2026 · Company Update / General
Please find enclosed corrigendum for the newspaper publication of the Notice of 22nd AGM of the Company.24 Aug 2026 · Company Update / Newspaper Publication
Please find enclosed extract of newspaper publication of Notice of 22nd Annual General Meeting of the Company to be held on September 12, 2026.22 Aug 2026 · Company Update / Newspaper Publication
Please find enclosed Annual Report of the Company for the FY ended March 31, 2026, along with the notice of AGM.21 Aug 2026 · Others / Reg. 34 (1) Annual Report
Please find enclosed Notice of Annual General Meeting to be held on Saturday, September 12, 2026, along with integrated Annual Report for the FY 2025-26.21 Aug 2026 · AGM/EGM / AGM
Please find attached intimation of loan agreement executed on 13/08/2026.13 Aug 2026 · Company Update / General
Please find attached herewith intimation regarding newspaper publication of financial results of the company for the quarter ended June 30, 2026.13 Aug 2026 · Company Update / General
Please find enclosed outcome of board meeting held on 12/08/2026 for reappointment of directors.12 Aug 2026 · Company Update / Change in Management
Please find enclosed Unaudited Financial Results for the quarter ended June 30, 2026.12 Aug 2026 · Result / Financial Results
Please find enclosed outcome of Board meeting for approval of unaudited financial results for the quarter ended June 30, 2026.12 Aug 2026 · Board Meeting / Outcome of Board Meeting
Please find enclosed Closure of Trading Window for dealing in the Securities of the Company for the Designated Persons and their Relatives up to 14/08/2026,6 Aug 2026 · Insider Trading / SAST / Closure of Trading Window
Vraj Iron And Steel Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 12/08/2026 ,inter alia, to consider and approve Please find enclosed intimation ....6 Aug 2026 · Board Meeting / Board Meeting
Please find enclosed outcome of Board meeting for expansion of Greenfield project of the Company14 Jul 2026 · Company Update / General
Please find attached compliance certificate under Regulation 74(5) of the SEBI (DP) Regulations, 2018 for the quarter ended June 30, 202611 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Please find enclosed Intimation letter for Closure of Trading Window.26 Jun 2026 · Insider Trading / SAST / Closure of Trading Window
Please find extract of newspaper publication of financial result for the quarter and financial year ended March 31, 2026.29 May 2026 · Company Update / Newspaper Publication
Please find enclosed financial results for the quarter and year ended March 31, 2026.28 May 2026 · Result / Financial Results
Please find attached herewith the Outcome of Board Meeting held on May 28, 202628 May 2026 · Board Meeting / Outcome of Board Meeting
Submission of Annual Secretarial Compliance Report of the Company for the financial year ended March 31, 202627 May 2026 · Company Update / Reg.24(A)-Annual Secretarial Compliance
Please find attached letter for closure of trading window upto 30.05.202625 May 2026 · Insider Trading / SAST / Closure of Trading Window
Vraj Iron And Steel Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 28/05/2026 ,inter alia, to consider and approve Audited Financial Results ....25 May 2026 · Board Meeting / Board Meeting
Please find enclosed update in Closure of Trading Window till 48 hours after the declaration of financial result.14 May 2026 · Insider Trading / SAST / Closure of Trading Window
Please find enclosed Monitoring Agency Report issued by the CARE Rating Limited (Monitoring Agency) for the quarter ended March 31, 2026.14 May 2026 · Company Update / Monitoring Agency Report
Appointment of Cost Auditor and Internal Auditor at the Board Meeting held today i.e. May 14, 2026.14 May 2026 · Company Update / Change in Management
Outcome of Board Meeting held on May 14, 2026.14 May 2026 · Board Meeting / Outcome of Board Meeting
Please find attached herewith intimation regarding Closure of Trading Window period upto 16.05.2026.5 May 2026 · Insider Trading / SAST / Closure of Trading Window
Vraj Iron And Steel Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 14/05/2026 ,inter alia, to consider and approve Audited Standalone and ....5 May 2026 · Board Meeting / Board Meeting
The Exchange has received the disclosure under Regulation 10(6) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Gopal Sponge and Power Pvt Ltd30 Apr 2026 · Insider Trading / SAST / Disclosures under Reg. 10(6) of SEBI (SAST) Regulations, 2011
Please find attached intimation of grant of electricity duty exemption on electricity generated from the solar power plant for captive consumption at its siltara division.13 Apr 2026 · Company Update / Award of Order / Receipt of Order
Please find enclosed certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations 2018.4 Apr 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

Board meetings

12 Aug 2026 Board Meeting - Financial Results