Vardhman Special Steels Limited has informed the Exchange regarding Investor Presentation on Un-Audited financial results of the Company for the quarter/nine-months ended 31st December, 2018.

QlVardhminVARDHMANSPECIALSTEELSLIMITEDDeliveringExcellence.SinceI965.CHANDIGARHROADLUDHIANA-HIOIO.PUNJABT:+9l-l6l-2228943-48F:+9l-l6l-260l048,22226l6,260|040E:secretarial.lud@vardhman.comVardhmin'Ref.VSSL:SCY:FEB:2018-19DATED:02.02.2019TheDeputyGeneralManager,TheNationalStockExchangeofIndiaLtd,CorporateRelationshipDeptt,“ExchangePlaza,BombayStockExchangeLimited,Bandra-KurlaComplex,1StFloor,NewTradingRing,Bandra(East),RotundaBuilding,P.JTowers,MDMBAl-goo051DalalStreet,Fort,MUMBAl-gooom.ScripCode:534392ScripCode:VSSLSUB:COMPLIANCEOFREGULATION30OFTHESEBI(LISTINGOBLIGATIONSANDDISCLOSUREREQUIRMENTS)REGULATIONS2015.DearSir,PursuanttotheprovisionsofRegulation30oftheSEBI(ListingObligationsandDisclosureRequirement)Regulations,2015,pleasefindenclosedherewithInvestorPresentationonUn-AuditedfinancialresultsoftheCompanyforthequarter/nine-monthsended31StDecember,2018.Kindlynoteanddisplaythenoticeonyournoticeboardfortheinformationofthemembersofyourexchangeandgeneralpublic.Thankingyou,Yoursfaithfully,ForVARDHMANSPECIALSTEELSLIMITEDonamTaneja)CompanySecretaryYARNSIFABRICSITHREADSlGARMENTSlFIBRESISTEELSPANNO.:AADCV4BIZBCIN:L27l00PBZOlOPLC033930WWW.VARDHMANSTEEL.COMQVARDHMANSPECIALSTEELSLTD.vA-3C-|W.‘i|TMENTT0QUAJT‘iDisclaimerThispresentationhasbeenpreparedbyVardhmanSpecialSteelsLimited(the”Company”)solelyforinformationpurposesanddoesnotconstituteanyoffer,recommendationorinvitationtopurchaseorsubscribeforanysecurities,andshallnotformthebasisorbereliedoninconnectionwithanycontractorbindingcommitmentwhatsoever.NoofferingofsecuritiesoftheCompanywillbemadeexceptbymeansofastatutoryofferingdocumentcontainingdetailedinformationabouttheCompany.ThisPresentationhasbeenpreparedbytheCompanybasedoninformationanddatawhichtheCompanyconsidersreliable,buttheCompanymakesnorepresentationorwarranty,expressorimplied,whatsoever,andnorelianceshallbeplacedon,thetruth,accuracy,completeness,fairnessandreasonablenessofthecontentsofthisPresentation.ThisPresentationmaynotbeallinclusiveandmaynotcontainalloftheinformationthatyoumayconsidermaterial.Anyliabilityinrespectofthecontentsof,oranyomissionfrom,thisPresentationisexpresslyexcluded.CertainmattersdiscussedinthisPresentationmaycontainstatementsregardingtheCompany’smarketopportunityandbusinessprospectsthatareindividuallyandcollectivelyforward-lookingstatements.Suchforward-lookingstatementsarenotguaranteesoffutureperformanceandaresubjecttoknownandunknownrisks,uncertaintiesandassumptionsthataredifficulttopredict.Theserisksanduncertaintiesinclude,butarenotlimitedto,theperformanceoftheIndianeconomyandoftheeconomiesofvariousinternationalmarkets,theperformanceoftheindustryinIndiaandworld-wide,competition,thecompany’sabilitytosuccessfullyimplementitsstrategy,theCompany’sfuturelevelsofgrowthandexpansion,technologicalimplementation,changesandadvancements,changesinrevenue,incomeorcashflows,theCompany’smarketpreferencesanditsexposuretomarketrisks,aswellasotherrisks.TheCompany’sactualresults,levelsofactivity,performanceorachievementscoulddiffermateriallyandadverselyfromresultsexpressedinorimpliedbythisPresentation.TheCompanyassumesnoobligationtoupdateanyforward-lookinginformationcontainedinthisPresentation.Anyforward-lookingstatementsandprojectionsmadebythirdpartiesincludedinthisPresentationarenotadoptedbytheCompanyandtheCompanyisnotresponsibleforsuchthirdpartystatementsandprojections.TableofContentsQ3&9MFY19FinancialHighlightsCompanyOverviewBusinessOverview6)1:7VARDHMANSPECIALSTEELSLTD.ACOMMITMENTT0QUALITYWayAheadQ3&9MFY19FinancialHighlights'QVARDHMANSPECIALSTEELSLTD.vASCI‘AMITMEN'TOOUR.WManagement’sMessage-CommentingontheresultsMr.Sachit.Iain,ViceChairmanandManagingDirectorsaid—”Duringthenine-monthendedFY19,wehaveregisteredgoodvolumegrowthofaround12%.Althoughthereisatemporaryslowdownintheautomobileindustry,wehavebeenabletodelivergoodgrowth,onaccountofourstrongrelationshipwithourclients.Also,thisslowdownintheindustryinawayishelpingustobuildourinventoryforourupcomingplannedshutdowninfirstquarternextyear.Thisplantshutdownistoincreaseoursteelmeltingshopcapacity.Weexpectthisplannedcapacityexpansionwillhelpustoachieveourfuturegoalsandconsistentlydeliversuperiorperformance.TheconsistentimprovementinouroperationalefficiencieshasenabledourCompanytomaintainEBITDApertonneintherangeof4,500—6,000pertonne,despitechallengingscenarioofincreaseinrawmaterialcosts.Overall,weremaincommittedtooursetagendaofdeliveringconsistent,profitablevolumeledgrowth.Ithanktheentireteamof’VardhmanSpecialSteelsLimited’fortheiruntiringefforts,hardwork,sincerityandhighdedication.Also,IwouldliketothankourvaluedShareholders,whosesupportandfaithinourCompanyalongwiththeircriticalinputshasgivenusthedeterminationandambitiontogrowfromstrengthtostrength.”QVARDHMANSPECIALSTEELSLTD.FinancialHighlights—o3FY19(YoY)V13%43%Volume(MT)RevenuefromOperations*43,258tonsRs.312.52crore13%1%EBTIDA#PBTRs.22.38croreRs.9.64crore....................................................................................................................................................................................5°Growthinvolumedespiteslowdowninautomotiveindustry_°IncreaseinRevenuemainlyonaccountofincreaseinsalesvolumesandhigherrealizationsE6‘uuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuu‘*Includessaleofrawmaterialandtradedgoods;#EBITDAisincludingOtherIncomeQVARDHMANSPECIALSTEELSLTD.FinancialHighlights—Q3FY19‘0SalesVolumes(MT)RevenuefromOperations(Rs.Crore)43,25842,469IIIIIII:I41,586:269.50I218.42231.3638,27538,455IIIIIIIIIII|IIIII295.49312-52Q3FY18Q4FY18Q1FY19Q2FY19Q3FY19Q3FY18Q4FY18Q1FY19Q2FY19*Q3FY19*EBITDA(Rs.Crore)#PAT(Rs.Crore)I:IIII:::9.549.03IE7.217.07.6.21IIIIIIIIIIIIIIIIII:IQ3FY18Q4FY18Q1FY19Q2FY19Q3FY1922.38193819.4919.62III1655Q3FY18Q4FY18Q1FY19Q2FY19Q3FY19*Includessaleofrawmaterialandtradedgoods#EBITDAisincludingOtherIncome7FinancialHighlights—Q3FY19QVARDHMANSPECIALSTEELSLTD.vAGC-MMITI.1ENTT0QUAJT‘I‘RevenuefromOperations312.52*218.4243.08%295.49*ExciseDuty0.000.000.00OtherIncome0.400.981.23TotalIncome312.92219.4042.63%296.72CostofMaterialsConsumed235.67123.61183.15PurchasesofStocks17.110.0014.65ChangesInInventory(60.01)(9.25)(15.68)RawMaterialExpenses192.77114.36182.12EmployeeExpenses12.6411.8213.44Power&Fuel32.1934.5735.01OtherExpenses52.9438.7749.60TotalExpenditure290.54199.52280.17EBITDA22.3819.8812.58%16.55Depreciation6.205.715.98Interest/FinanceCost6.544.635.64PBT9.649.541.05%4.93Tax3.430.00(2.14)PAT6.219.54(34.91)%7.07BasicEPSinRs.1.742.971.98.uuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuu.5-DeferredtaxaccountedinQ3FY19asagainstnotaxpaidinQ3FY18(duetoaccumulatedlosses)*IncludessaleofrawmaterialandtradedgoodsI‘llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllI’QVARDHMANSPECIALSTEELSLTD.FinancialHighlights—9MFY19V12%40%21%Volume(MT)RevenuefromOperations*EBTIDA#1,27,313MTRs.877.51croreRs.58.54crore25%6%PATBasicEPSRs.22.36croreRs.6.26vs.Rs.5.939MFY18.llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll,oI'I°IncreaseinRevenuemainlyonaccountofincreaseinsalesvolumesandhigherrealizations°EBITDAgrowthdrivenbyhigheroperationalefficiencies,despiteincreaseinrawmaterialcosts*Includessaleofrawmaterialandtradedgoods;#EBITDAisincludingOtherIncome/)QVARDHMANSPECIALSTEELSLTD.FinancialHighlights—9MFY19‘00IncomefromOperations877.51*646.53ExciseDuty0.0018.93RevenuefromOperations877.51627.6039.82%OtherIncome1.333.81TotalIncome878.84631.4139.19%CostofMaterialsConsumed588.65341.27PurchasesofStocks31.760.00ChangesInInventory(89.33)1.22RawMaterialExpenses531.08342.49EmployeeExpenses38.8134.53Power&Fuel100.5199.82OtherExpenses149.90106.03TotalExpenditure820.30582.87EBITDA58.5448.5420.60%Depreciation17.8415.20Interest/FinanceCost17.0515.52PBT23.6517.82Tax1.290.00PAT22.3617.8225.48%BasicEPSinRs.6.265.935.56%*Includessaleofrawmaterialandtradedgoods10BalanceSheetason30thSept’18QVARDHMANSPECIALSTEELSLTD.flGCMlillTlilEN—TIII(JULT'i‘Equity*355.35339.32NonCurrentAssets316.26278.83EquityShareCapital35.703570PropertyPlant&Equipment281.1524927OtherEquity319.65303.62Capitalworkinprogress15.376.99Non-currentliabilities142.75102.33Other'“tang'b'e3559“0'360-29......FinancialAssetsFinanCIalLiabilities_1417410146LongTermInvestment0.000.00(a)Borrowmg''LongTermLoans0-881-42(b)OtherFinancialliabilities0'050'00DeferredTaxAssets(Net)2.200.00Provisions0'960'85OtherNonCurrentAssets16.3020.86DEfEWEdTEXLiabilities(Net)0-000-00CurrentAssets454.08397.82OtherCurrentLiabilities0-000.02Inventories200.81158.60Currentliabilities272.24235.00FinancialassetsFinancialLiabilitiesinvestments0.018.16(a)Borrowings127.30118.50Tradereceivables2832.36194.55(b)TradePayables109.1560.61:3th&BCa:hBec|1uwalents0.043.3:eranaance..(c)OtherFinancialLiabilities3034094502::Loans1.151.02Provmons....''Otherfinancialassets4.175.92OtherCurrentLiabilities2.103.02Currenttaxassets0.000.36CurrentTaxLiability(Net)0'160'00OtherCurrentAssets44.4421.72TotalEquities&Liabilities770.34676.65TotalAssets7703457555*DuringFY18CompanyraisedRs.68crthroughRightsIssueandRs.50crthroughQIP(subscribedbyDSPBlackrockMFandSundaramMF)11“Q7VARDHMANSPECIALSTEELSLTD.CompanyOverviewWtlIAmongstIndia’sLeadingSteelBarReputedandlongtermcustomersProducerforAutomotiveApplicationIToyota,HeroMotoCorp,IIncorporatedinMay2010Caterpillar,HinoMotors,Maruti,IHeadquarteredinLudhiana,3313]andHyundai,amongothersPunjabIMorethan200+ClientsICaterstosectorssuchasEngineering,Automotive,Tractor,BearingandAlliedIndustriesStrongInternationalCustomerBaseforforgingapplicationsIThailand,Taiwan,Turkey,Russia,GermanyandSpainProductofferingsVard'1m5I1ISteelBarsandRodsandBrightBarsofvariouscategoriesofSpecial&AlloySteelsCertificationsIISO14001:2004;OHSASState-of-the-artmanufacturingfacilities1800122007;ISO9001:2008;ISO/TSICutting-edgemanufacturingtechnology1694922009IManufacturingCapacity>Billets-2,00,000MTPAContinuousFocusonimprovingCapitalStructure>RolledBars—1,80,000MTPAIDebtreducedfromRs.350CrsinFY15toRs.279CrsAson30thSeptember2018IRaisedRs.118crthroughRightsIssueandQIPtorepaydebtandfundongoingcapex13(JourneySoFarI1973-CommissioningofOswalSteelsatFaridabad,withinitialcapacitytoproduce50,000TPAI2010-IncorporatedasindependentidentityunderVardhmanGroup-earlierunitofVardhmanTextilesQVARDHMANSPECIALSTEELSLTD.L:1:'Il.-'|Tl-E'I'‘III"_|.-—_T'\ofspecial&alloysteels'2013—InstalledfUllYautomaticrollingIApril2017—RaisedRs67.85crbyI1986_Acquiredanotherplant,millwithcapacityof1,50,000TPA&RightIssueMohtaAlloysinLudhiana,withMagnafluxleakagetestingsystem(Dr.IOct.2017—Purchased“'8acresofinstalledcapacityof1,00,000FoersterGermanvll30dUltrasonicadjoininglandatLudhianaforRs.TPATestingfrom(Olympus,Canada)36CrplusgovernmentdutiesI1995—Installedultra-modernSteelMeltingShopand9/6meterBloomCasterwithElectromagneticStirrerI2000—CommissionedVacuumDegassing(V.D)SystemI2001-StrengthenedproductportfoliowithadditionofBrightBarFacilityIClosedFaridabadoperations&shiftedtoLudhianaIJuly2015—InstalledFumeExtractionsystemforpollution&dustcontrolIAug2015—IncreasedcapacityofBrightbarsto36,000TPA&1,80,000TPAforHotRolledIDec2016-Upgradedtransformer&alliedequipmenttoreducemeltingtime&resultinginSMScapacityto1,65,000TPAFeb.2018—RaisedRs.50CrthroughQIPJune2018—UpgradeinlongtermborrowingratingtoCRISILAAfromAA-August2018—ChangeinStatutoryAuditorstoM/sB.S.R.&Co.LLPfromM/sS.S.KothariMehta&Co.2019—FortifiedBoardofDirectors-addedIndependeWomanDirector14IStrong&ExperiencedBoardofDirectorsGVARDHMANSPECIALSTEELSLTD.vACOMMITMENTT0QUALITYbe0000otopmostInvestmentBankers.Illlllllllllllll‘llllllllllllllll.‘ntativeofPromoterGroupIDegreeinB.Sc.,M.Com&MBAllllllllllllllll.‘llIIllIIIIlllllllllllllllllllllIIllIIIIllllIllllllllllllllllIlllllllll‘‘............................................................,Mr.SanjeevPahwa—IndependentDirectorIIB.TechfromIIT,Delhi-Experienceofmorethan25yearsinIbicycle/automobiletyresandtubesindustryIIChairman-cum-MDofRalson(India)Ltd.—LargesttyreE‘manufacturerintheWorld.IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIvIlllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll.Mr.RajeevGupta—Chairman&IndependentDirectorB.TechfromBHU/IIT,VaranasiandMBA(IIM,Richexperienceofmorethan34years-OneofCountry’sIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII‘.llllllllllllllllllllllllllIIIIIIIIIIIIIIIIIIIIIII.Ms.SuchitaJain—Non-ExecutiveDirectorIMaster’sdegreeinCommercefromPunjabUniversity,ChandigarhIOver25yearsofrichexperienceintextileindustryIKeyroleinstartingfabricmanufacturinginVardhmanTextilesMr.B.K.Choudhary—Non-ExecutiveDirectorIRichexperienceofmorethan43yearsinSteel&Textileindustry.EAhmedabad)IIIIIIIIIIIIIIIIll-llllllllllll.oooo‘Illlll,IIIIIIIIIIIII‘IIIIIIIIIIIIIIIIlMs.ShubhraBhattacharya—IndependentDirectorIBachelor’sdegreeinMathematicsandMBAfromXavier’sLabourRelationsInstituteIMorethan25yearsofexperienceinHumanResourceManagementIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII‘IB.Sc(StatisticsHonours)andMBA.fromIIM,AhmedabadIMorethan20yearsofexperienceinequities&investmentmanagement-AmongleadingstockmarketGurusIIlllllllllllllllllllllllIIlllllllllllllllllllllllllllllllllllllllllll.r.SachitJain—ViceChairman&MDB.Tech(Electrical)-IIT,NewDelhi,MBA(Goldmedallist)-IIM,AhmedabadandOwner/PresidentManagementProgram—Harvard-Experienceofover29yearsinTextile&SteelIChairmanofCII,NorthernRegion“Ill-llllllllllllllllllllllllllllllllllllllllllllllllIIIIIIIIIIIIIIIIII‘Ill-lllllllIIlllllllllllllllllllllllllllIIIIIIIIIIIIIIII.:.....I:Mr.RaJInderKumarJaIn—Non-ExecutIveDirector5ICharteredMechanicalEngineerfromInstituteofMechanicalEEngineersLondon:IRetiredasGeneralManagerfromIndianRailwaysafter:‘~'s"._...",-5EMr.RakeshJain—IndependentDirector5EIPh.dinPolymersfromtheUniversityofAkronEIWorkedintheAdvancedTechnologyGroupatGEElectro-EmaterialsDivision(EMD)inCoshocton,OH,USA&AdityaE2:BirlaGroup(ABG)asMDofIndoGulfFertilizersLtd''IllllllllllllIIIlllllIIllIIIllllllllllllllllIIIIIlllllllllllllllllllll‘.,.............................................................."u"...-Mr.SanjoyBhattacharyya—IndependentDirectorIllIIlllllllllllllllllllllllllllllllllllllllllll.15WideRangeofSizesforRolledProducts6:?)A33l-lMlTMEl-l—T0CUA.T‘r’HotRolledBars.DiameterSize:Increasedfrom25-70MMin2012to16-120MMin2017-18BrightBarsSize:14.66to78mm(Peeled),21.35to50mm(Drawn)VARDHMANSPECIALSTEELSLTD./“Q7YARDHMANSPECIALSTEELSLTD.WithState-of-the-artmanufacturingfacilities'‘'SteelMeltingShopRollingMillBrightBarsAnnualCapacity:2,00,000TPAIAnnualCapacity:1,80,000TPAIAnnualCapacity:36,000TPA30MTUltraHighPower(UHP)EccentricIRollingMillinstalledin2013—14IBarPeeling&CentrelessGrindingBottomTapping(EBTType)IMillwithcompleteautomation-StraighteningFullyautomatedcontinuousfeedingsystemforI33TPH”Walking”HearthTypeReheatingFurnace-PeelingDRI&otherrawmaterialsIReversible2highshiftablestandwithBar-ColddrawingAutomaticlancemanipulatorforoxygenandManipulator-PolishingcokeinjectionI10ContinuousStandsinHorizontal&Vertical-CentrelessgrindingElectroderegulationsystem—MeltControllerconfiguration-FulllengthbarMagneticParticleCELOXforactiveoxygenmeasurementIOnlineDimensionalMeasurementsInspection(Electronite)IRackTypeCoolingbeddesignedforbetter-HighSpeedBandSawsstraightness&Hardnesslevels-CircularSaw—CuttoLengthSteelIAbrasiveCutter18QVARDHMANSPECIALSTEELSLTD.vACOMMITMENTT0QUALITYProcessFlowSponge.ORI,PIGIRON,ShreddedScrapl’ExportsDomesticShipmentIFinalInspectionandDispatch’—BrightBarShop—>_NDTLinemomsucmcARCFURNACESphEI’OdileAnnealingVm‘l'““8‘9“"!0"“uddleRefiningUm!ConnnousCastingFacilityAsRolledBarall"!/ReheatFurnace"HotRolled"RollingMill19/e7VfiRDHMANSPECIALSTEELSLTD.SteelMeltingShopw.,.IElectricArcFurnaceLadleRefiningFurnaceRollingMill&BrightBarsQVARDHMANSPECIALSTEELSLTD.vASClAi‘JITlAEr-l'TOOUR.WRollingMillRollingMillBrightBarShopVARDHMANSPECIALSTEELSLTD.ACOMMITMENTT0QUALITY£9AutomaticLineofBarInspection-NDTLineMFLT.AcceptanceCriteria:Chamfermg0_2X10mmBarendsfreefromStraighteningBU"Straightness:2mm/meterAcceptanceCriteria:SDH—0.8x10mm,FBH—0.8&1.2mmAShotBlastingGVARDHMANSPECIALSTEELSLTD.WithbestinclassR&DFacilityW7ISpectrometer:ARL4460:1454forChemicalAnalysis.Itcancheck32differentelementsICS—230:AnalyzerforCarbon&SulfurcontentinsteelILECOgasanalyzer—TC600Hz,N2,02AnalyzerIMobileSpectroandXRFforMixupTestingofBarsIMechanicalandMetallurgicalTestingLabIRockwellHardnessTesterIImpactTestingMachine(MaterialToughness)IMetallurgicalMicroscopewithImageAnalyzerICarlZeismicroscopewithmaximummagnificationoflOOOxIOlympusmicroscopewithmaximummagnificationof2000xIRADLAB-1GAMMARAYSpectrometerIForTestingSteelSamplesforRadiologicalContentICanidentifydifferenttypesofIsotopespresentinSteelSampleandshowResultsinBq/gmISamplesRadiologicalcontentcanbecertifiedwith300SecondscaninRadLab”Well”IXRFSpectrometer-Higherrange&A||input/outputmaterialcanbecheckedandchemicallyanalysed...ensuringhighestlevelsofqualityandcompliance23StrategicallylocatedWarehousingFacilities£9ACOMMITMENTT0QUAJTYVARDHMANSPECIALSTEELSLTD.0IfIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII=IOneOwnedWarehouse5IBilaspurHaryanaEIFiveLeasedWarehousesinIndiaIBangaloreIChennaiIRudrapurIPuneIAurangabad-IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIf-QVARDHMANSPECIALSTEELSLTD.KeyStrengthsvACOMMITMENTToQUMWStateofArtManufacturingFacilitiesandadvancedR&DCapabilitiesoIWellequippedwithlatestupgradedTechnologyMachinesDiversifiedProductofferingsIManufacturesdiverserangeofproductswithwideapplicationsacrosssectors0IFurtherexpandingproductofferingstoincreasewalletsharewithexistingcustomersandaddingnewclientsRichManagementExperienceIDynamic&richexperienceinspecialsteelsector0IDiverseteamwithrightmixofoperational&technicalexpertisealongwithdedicatedandskilledemployeebaseQualityStandards&AssuranceIAdherencetoqualitystandardsacrossallstagesofmanufacturingICheckedfordimensionalaccuracy&temperateverystagewIWellequippedwithallmoderntestingfacilitiestocheckforphysical,mechanicalandchemicalpropertiesBrandImage0IContinuousbrandbuildingexercisebyprovidingexcellentservicestosatisfyourcustomers25VARDHMANSPECIALSTEELSLTD.ACOMMITMENTTUQUALITY£20)StrongGlobalCustomerBaseReputed&longtermcustomersQVARDHMANSPECIALSTEELSLTD.vACCMMITMEN—T0GUA.'I'v’CarsTwowheelersom‘/‘\/\.o’‘Q99@MARUTI£2.YAMAHA‘TOYOTAHvunnnlMs‘SUZUK'@HJ/HeroBAJAJ67TvsfléRENAULTHafiDA.......................................................................................................................................llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll“““““““aernxonmr97lannGKNAutomotiveEJOHNDEERE23MERITORTAPEESEmahindra‘o¢¢¢¢¢¢¢¢¢..........................................................................................................................lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll...................................................................................................................DAIMLERoo.c,,e------------------------------------------------------------C‘.0.....=aAGRICULTURE::II..IIINTERNATIONALI'HCL/LCVuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuueooASHCIKLEYLANDSLIJaRaJmazna-------------------------------------------------------------n¢00§lllllllllllllllllllllllllllllllllll....................................QualityCertificationsQVARDHMANSPECIALSTEELSLTD.vACOMMITMENTT0QUAJTVnnnnnnMANAGEMENTSYSTEMCERTIFICATEISO9001:2008:mvm.MANAGEMENTSYSTEMCERTIFICATEISO/TS16949:2009ququququMANAGEMENTSYSTEMCERTIFICATEquququMANAGEMENTSYSTEMCERTIFICATEOHSAS18001:2007(non-accr.)INDIA'SBESTCOMPANIESTOWORKFOR2012VardhmanSpecialSteelsLimitedRankedamongTop50Companieshavingupro1000employeesForinspiringTmstamongyampeople,forinstillingPrideinthem,forcreatinganenvironmentwithin{hewotkpioterhntpromotesCamaraderieandformanyotherreasonsthatmaiaeyourorganizationoneoflndia‘sbestcompaniestoworkfor.WRwywww-Home»;(Nb-(mafiamuwlm-Aautumn-rumm-ITm:I'kiixmni"In”:India'sBestCompaniesToWorkFor201228danGVARDHMANSPECIALSTEELSLTD.AWayAheadvAGC-Ml.‘HTMENTT0QUAJT‘lCapacityExpansionIIncreasemeltingcapacityto2,40,000TPAandRollingCapacityto2,20,000TPABYFY21-expectedcapexofapprox.Rs.200Cr.ITargetofachievingfullcapacityutilizationsoonaftercompletingcapexJointVenture&AcquisitionILookingforJointventureopportunitiesindownstreamvalueaddedproductsnamelyBrightBarsTechnicalAllianceIBuildstrongtechnicalalliancewithaglobalplayerforautomotivesteelsIExplorevalueaddedproductslikehighalloysteelthroughingotcastingroutealongwithtechnicalalliance/JV/AcquisitionDe-riskingBusinessIExploreavenuestowardsde-riskingbusinessbyincreasingproductsofferingandexpandintonewindustryapplications30QVARDHMANSPECIALSTEELSLTD.ThankYouvACOMMITMENTTUQUALITYSSE534392@NSEVSSLBIoombergVSSLINRENE-“=59VARM.BOForfurtherinformation,pleasecontact:Company:InvestorRelationsAdvisors:VardhmanSpecialSteelsLimitedBridgeInvestorRelationsPvt.Ltd.CIN:L27100PBZOlOPLC033930CIN:U74900MH2016PTC273679Mr.SanjeevSinglaMr.AmitSharmasanieevsingla@vardhman.comamit@bridge-ir.com02226873003www.vardhmansteel.comMr.SmitShahsmit@bridge-ir.com02226873003www.bridge-ir.com31