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Vraj Iron and Steel (VRAJ)₹130.91+1.07%Sponge Iron
In the Jun 2026 quarter (consolidated), Vraj Iron and Steel reported sales of ₹193 Cr, up 40.6% from Jun 2025, and net profit of ₹11.97 Cr, up 50.0% year on year. For the year to Mar 2026, sales were ₹586 Cr and net profit ₹31.89 Cr.
Company filings, consolidated accounts; latest reported quarter Jun 2026
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 115 | 80.79 | 119 | 115 | 87.65 | 120 | 153 | 138 | 133 | 145 | 170 | 193 |
| Expenses | 88.72 | 69.78 | 101 | 93.65 | 73.75 | 109 | 136 | 125 | 119 | 141 | 144 | 173 |
| Operating Profit | 25.97 | 10.99 | 17.99 | 20.98 | 13.99 | 10.99 | 16.01 | 12.99 | 13.01 | 4.99 | 24.98 | 20.01 |
| OPM % | 23.0% | 13.0% | 15.0% | 18.0% | 16.0% | 9.0% | 11.0% | 10.0% | 10.0% | 3.5% | 15.0% | 10.0% |
| Other Income | 2.01 | 2.99 | 0.99 | 0.99 | 1.99 | 1.99 | 0.99 | 1.99 | 3.01 | 1.99 | 3.99 | 3.01 |
| Interest | 1.01 | 1.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.01 | 1.01 | 1.01 |
| Depreciation | 1.01 | 1.01 | 1.01 | 0.99 | 1.01 | 2.01 | 4.01 | 5.01 | 5.01 | 5.01 | 7.01 | 6.99 |
| Profit before tax | 26.04 | 11.03 | 17.05 | 21.06 | 14.02 | 11.03 | 14.04 | 10.02 | 10.02 | 1.01 | 21.05 | 15.04 |
| Tax % | 24.1% | 23.0% | 25.0% | 24.1% | 25.0% | 26.0% | 26.1% | 25.1% | 25.1% | 19.1% | 26.0% | 22.1% |
| Net Profit | 19.96 | 8.97 | 12.95 | 15.94 | 9.97 | 7.98 | 9.97 | 7.98 | 7.97 | 0.99 | 15.94 | 11.97 |
| EPS (Rs) | 7.92 | 3.45 | 5.17 | 6.27 | 3.11 | 2.49 | 3.02 | 2.29 | 2.34 | 0.32 | 4.70 | 3.48 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|
| Sales | 290 | 413 | 515 | 418 | 474 | 586 | 641 |
| Expenses | 262 | 365 | 436 | 342 | 410 | 528 | 578 |
| Operating Profit | 27.99 | 47.99 | 76.95 | 76.99 | 63.01 | 56.95 | 62.99 |
| OPM % | 10.0% | 12.0% | 15.0% | 18.0% | 13.0% | 10.0% | 9.8% |
| Other Income | 2.01 | 2.01 | 4.99 | 7.99 | 5.99 | 10.99 | 12.00 |
| Interest | 6.01 | 4.01 | 3.01 | 3.01 | 2.01 | 3.01 | 3.03 |
| Depreciation | 6.99 | 6.99 | 5.99 | 6.01 | 8.01 | 23.02 | 24.02 |
| Profit before tax | 16.03 | 39.08 | 72.12 | 76.22 | 59.17 | 43.11 | 47.12 |
| Tax % | 31.0% | 26.1% | 25.0% | 24.0% | 25.1% | 25.0% | — |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.31 | 0.00 | 0.00 | — |
| Net Profit | 10.98 | 28.91 | 53.81 | 56.80 | 43.85 | 31.89 | 36.87 |
| EPS (Rs) | 22.14 | 57.83 | 108.76 | 23.15 | 13.32 | 9.67 | 10.84 |
| Dividend payout % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 5.02 | 5.02 | 5.00 | 24.98 | 33.01 | 33.06 |
| Reserves | 52.12 | 82.11 | 136 | 176 | 364 | 397 |
| Borrowings | 46.84 | 43.81 | 24.89 | 62.74 | 1.99 | 42.85 |
| Other Liabilities | 20.95 | 19.90 | 25.87 | 16.91 | 17.91 | 22.89 |
| Total Liabilities | 126 | 150 | 192 | 280 | 417 | 496 |
| Fixed Assets | 64.11 | 58.07 | 53.08 | 48.07 | 195 | 273 |
| CWIP | 0.00 | 0.00 | 0.00 | 63.83 | 2.99 | 7.98 |
| Investments | 13.01 | 15.02 | 18.01 | 22.99 | 37.98 | 40.98 |
| Other Assets | 48.81 | 76.75 | 120 | 146 | 180 | 173 |
| Inventories | 21.92 | 31.91 | 31.89 | 41.90 | 50.86 | 67.80 |
| Trade receivables | 7.03 | 12.04 | 13.05 | 12.04 | 21.07 | 33.13 |
| Cash & equivalents | 3.01 | 4.01 | 9.04 | 40.14 | 40.16 | 6.02 |
| Total Assets | 126 | 150 | 192 | 280 | 417 | 496 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Cash from operating activity | 22.05 | 9.02 | 63.14 | 19.03 | 14.03 | 31.05 |
| Cash from investing activity | −6.02 | −1.01 | −40.15 | −56.22 | −103 | −70.30 |
| Cash from financing activity | −15.99 | −6.99 | −22.97 | 35.95 | 89.91 | 37.95 |
| Net cash flow | 0.00 | 0.00 | 0.00 | 0.00 | 0.99 | −0.99 |
| Capex | 3.99 | 0.99 | 1.99 | 0.99 | 4.99 | 7.98 |
| Free cash flow | 17.99 | 6.99 | 61.02 | −45.01 | −80.95 | −74.05 |
| CFO / OP % | 91.9% | 30.9% | 103.9% | 52.0% | 42.9% | 67.9% |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor days | 8 | 9 | 8 | 9 | 15 | 19 |
| Inventory days | 37 | 36 | 29 | 53 | 53 | 53 |
| Days payable | 21 | 10 | 14 | 14 | 10 | 10 |
| Cash conversion cycle | 25 | 37 | 25 | 50 | 61 | 65 |
| Working capital days | 6 | 24 | 44 | 40 | 66 | 74 |
| ROCE % | — | 36.0% | 51.0% | 36.9% | 17.9% | 9.9% |
For the Jun 2026 quarter, Vraj Iron and Steel reported sales of ₹193 Cr, up 40.6% year on year and net profit of ₹11.97 Cr, up 50.0% year on year. The operating margin was 10.0%.
Vraj Iron and Steel's sales for the year to Mar 2026 were ₹586 Cr; over the last twelve months they were ₹641 Cr.
Net profit for the year to Mar 2026 was ₹31.89 Cr, and ₹36.87 Cr over the last twelve months. Earnings per share over the same trailing period were ₹10.84.
Vraj Iron and Steel reported borrowings of ₹42.85 Cr at Mar 2026, against cash and equivalents of ₹6.02 Cr.
Cash from operations was ₹31.05 Cr in the year to Mar 2026; after capital spending, free cash flow was −₹74.05 Cr.