Vardhman Special Steels Limited (VSSL) has announced its unaudited financial results for the half year ended 30th September, 2026, showing significant growth across key metrics. The company’s revenue from operations reached Rs. 1,086.06 crore, up 25.41% year-on-year (YoY), driven by a 16.7% increase in sales volumes to 1,29,704 MT. The EBITDA surged 58.80% YoY to Rs. 152.15 crore, and the PAT jumped 72.02% to Rs. 93.68 crore.

Strong Performance in Sales and Profitability

The robust performance was attributed to higher production, increased demand, and improved realizations. The EBITDA per ton stood at Rs. 11,053 on rolled sales, reflecting efficient cost management and operational leverage. The company’s focus on cost optimization and operational efficiencies, along with the benefits from lower-cost raw material inventory and capex on the Kocks Block and reheating furnace, contributed to the impressive results.

Looking Ahead

Mr. Sachit Jain, Chairman & Managing Director, highlighted the company’s commitment to operational excellence, innovation, and sustainability. He emphasized the importance of the upcoming forging facility in Ludhiana, which marks a significant step towards forward integration and higher-value forged components. Looking forward, VSSL aims to strengthen its core operations, progress with its greenfield special steel facility, and expand its value-added product portfolio.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Vardhman Special Steels Limited

Vardhman Special Steels Limited belongs to the Basic Materials › Steel sector. Here’s a quick read on where the business and the stock stand today.

Vardhman holds in the upper half of its 52-week range, a sign the market backs the stock. Thin margins at 7.9% leave limited room for error — any demand softness or cost spike hits the bottom line hard. The PEG of 2.97 makes it expensive versus peers. The premium needs earnings to catch up quickly. The stock trades at 76% of its 52-week range — near its best levels of the year. Clearly, the market pays a premium for this name. The stock rises 5.2% in three months on 0.6% revenue growth. As a result, the market gives it more credit than the fundamentals strictly justify. Watch the next quarterly results. If growth accelerates, the move makes sense. If not, expect some gains to unwind. Check Fundamentals of Vardhman Special Steels Limited.

Mishra Dhatu Nigam Limited (MIDHANI) has taken a significant step towards promoting resource recovery and sustainable manufacturing by signing a Memorandum of Understanding (MoU) with the Heavy Water Board (HWB) and the Bhabha Atomic Research Centre (BARC). This collaboration aims to recover nickel and cobalt from plant reverts, leveraging the expertise of all three organizations.

Strategic Partnership

The MoU establishes a framework for cooperation among MIDHANI, HWB, and BARC to explore and implement efficient processes for recovering valuable metals from plant reverts. This initiative seeks to maximize resource utilization, reduce dependence on primary mineral resources, and promote environmentally responsible metal production.

Critical Metals Recovery

Cobalt and nickel are critical metals widely used in advanced battery technologies, electric vehicles, stainless steels, superalloys, and other strategic industrial applications. By recovering these metals from plant reverts, the collaboration aims to strengthen domestic supply chains, improve resource efficiency, and support the growing demand for critical metals.

Speaking on the occasion, Dr. S V S Narayana Murty, Chairman & Managing Director, MIDHANI, said, “The signing of this MoU marks an important milestone in our efforts to promote the recovery of critical metals from secondary resources. Through this collaboration, we aim to combine our strengths and develop viable, sustainable, and commercially competitive solutions for the production of cobalt and nickel from plant reverts.”

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Mishra Dhatu Nigam Limited

Mishra Dhatu Nigam Limited belongs to the Basic Materials › Steel sector. Here’s a quick read on where the business and the stock stand today.

Mishra holds in the upper half of its 52-week range, a sign the market backs the stock. Revenue consistency is the one bright spot — zero dips in five years shows operational resilience. Revenue contracts at 11.6% CAGR. That signals structural headwinds, not a short-term blip. The stock trades at 71% of its 52-week range — near its best levels of the year. Clearly, the market pays a premium for this name. The stock rises 2.9% in three months on 11.6% revenue growth. As a result, the market gives it more credit than the fundamentals strictly justify. Watch the next quarterly results. If growth accelerates, the move makes sense. If not, expect some gains to unwind. Check Fundamentals of Mishra Dhatu Nigam Limited.

ACC Limited, part of the diversified Adani Portfolio, announced its results for the quarter ended 30 September 2026. The company reported a resilient performance in Q2 and H1 FY’27, supported by an improving sales mix and higher premium volumes. The Q2 cement sales volume stood at 9.7 MnT, with a trade share increase of 7 pp YoY to 78%.

Capacity Expansion

The company commissioned 2.4 MTPA greenfield cement grinding unit at Salai Banwa, Uttar Pradesh, and 1.0 MTPA of additional capacity at Kalamboli, Maharashtra, strengthening ACC’s operating footprint. These projects added 3.4 MTPA of cement capacity during Q2 FY’27.

Green Power and Sustainability

Green power share increased from 30.3% to 34.4% YoY in Q2. ACC’s 2025 S&P Global Corporate Sustainability Assessment (CSA) Net Score was revised upward from 72 to 82, while its Gross Score remained an industry-leading 89/100.

The company’s improving business mix, expanding Ready-Mix Concrete network, trusted brand, premium and sustainable product portfolio, and strong balance sheet provide a solid foundation for growth. Subject to remaining approvals, the proposed amalgamation with Ambuja Cements is expected to facilitate closer coordination across the combined manufacturing, logistics, and market network.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of ACC Limited

ACC Limited belongs to the Basic Materials › Building Materials sector. Here’s a quick read on where the business and the stock stand today.

ACC falls 13.8% over three months and has not found a floor yet. The PEG of 0.24 is extremely low. Either the market misses the growth story, or there is a catch worth investigating. Thin margins at 7.6% leave limited room for error — any demand softness or cost spike hits the bottom line hard. The stock sits at 7% of its 52-week range, close to annual lows. Historically, value investors build positions at these levels — though cheap stocks can stay cheap. Revenue grows at 12.9% and profits at 48.7% CAGR — a genuinely strong business. Nevertheless, the stock drops 13.8% in three months. The market sells the stock, not the story. Watch whether that changes at the next earnings. Check Fundamentals of ACC Limited.