VSSLNSE6 May 2019

Vardhman Special Steels Limited has informed the Exchange regarding Investor Presentation on financial results for the quarter and financial year ended 31st March, 2019.

Vardhman Special Steels Limited

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G) l Vardhmén I Delivering Excellence. Since I965.

Vafdhmin

VARDHMAN SPECIAL STEELS LIMITED

CHANDIGARH ROAD

LUDHIANA-I4IOIO. PUNJAB T: +9l-I6I-2228943-48

F: +9I-I6l-260I048, 22226I6. 260l040

E: secretarial.lud@vardhman.com

Ref. VSSL:SCY:MAY:2019-_29

The Deputy General Manager, Corporate Relationship Deptt, Bombay Stock Exchange Limited, 1St Floor, New Trading Ring, Rotunda Building, P.J Towers, Dalal Street,Fort, MUMBAI-400001. Scrip Code: 534392

DATED: 06-May-2019

The National Stock Exchange of India Ltd, “Exchange Plaza, Bandra-Kurla Complex, Bandra (East), MUMBAI-goo 051

Scrip Code: VSSL

SUB: COMPLIANCE OF REGULATION 30 OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIRMENTS) REGULATIONS 2019.

Dear Sir,

Pursuant to the provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015, please find enclosed herewith Investor Presentation on financial results of the Company for the quarter and financial year ended 31St March, 2019.

Kindly note and display the notice on your notice board for the information of the members of your exchange and general public.

Thanking you,

Yours faithfully, For VARDHMAN SPECIAL STEELS LIMITED

(SO NAM TAN EJA) Com pany Secretary

YARNS

FABRICS

THREADS

l GARMENTS

FIBRES

I STEELS

PAN NO.:AADCV48IZB CIN: L27|00PBZOIOPLCO33930

WWW.VARDHMANSTEEL.COM

VARDKMAN SPEC‘AL STEE‘LS LYD

/a»)

Vardhman Special Steels Limited

Investor Presentation

Q4 & FY19

Disclaimer

0-9-0

Q mm v”

N SPECIAl STEELS ll'l'i.

This presentatian has been prepared by Vardhman Special Steels Limited (the ”Campany”) sale/y far infarmatian purpases and daes nat canstitute any affer,

recammendatian ar invitatian ta purchase ar subscribe far any securities, and shall natfarm the basis ar be relied an in cannectian with any cantract ar binding

cammitment what sa ever. Na affering af securities af the Campany will be made except by means af a statutary affering dacument cantaining detailed

infarmatian abaut the Campany.

This Presentatian has been prepared by the Campany based an infarmatian and data which the Campany cansiders reliable, but the Campany makes na

representatian ar warranty, express cr implied, whatsaever, and na reliance shall be placed an, the truth, accuracy, campleteness, fairness and reasanableness af

the cantents af this Presentatian. This Presentatian may nat be all inclusive and may nat cantain all af the infarmatian that yau may cansider material. Any

liability in respect af the cantents af ar any amissian fram, this Presentatian is expressly excluded.

Certain matters discussed in this Presentatian may cantain statements regarding the Campany’s market appartunity and business praspects that are individually

and callectively farwardrlaaking statements. Such farwardrlaaking statements are nat guarantees affuture perfarmance and are subject ta knawn and unknawn

risks, uncertainties and assumptians that are difficult ta predict. These risks and uncertainties include, but are nat limited ta, the perfarmance af the Indian

ecanamy and af the ecanamies af variaus internatianal markets, the perfarmance af the industry in India and war/drwide, campetitian, the campany’s ability ta

successfully implement its strategy, the Campany’sfuture levels af grawth and expansian, technalagical implementatian, changes and advancements, changes in

revenue, incame ar cash flaws, the Campany’s market preferences and its expasure ta market risks, as well as ather risks. The Campany’s actual results, levels af

activity, perfarmance ar achievements cauld differ materially and adverselyfram results expressed in ar implied by this Presentatian. The Campany assumes na

abligatian ta update any farwardrlaaking infarmatian cantained in this Presentatian. Any farwardrlaaking statements and prajectians made by third parties

included in this Presentatian are nat adapted by the Campany and the Campany is nat respansiblefar such third party statements andprajectians.

Table of Contents

0-9-0

65 ‘7

VMDHMAN SPECIAL STEELS “D,

n 1 g: u

. CompanyOverview

. Business Overview

. Financial Highlights . Way Ahead

About Us

60 V

VARDHMAN SPECIAL STEELS til). I

Amongst India’s Leading Steel Bar Producers for Automotive Applications

Incorporated in May 2010

I Headquartered in Ludhiana. Punjab I Caters to sectors such as Engineering.

Automotive. Tractor. Bearing and Allied Industries

Specialized Product offerings — o I Steel Bars and Rods and Bright Bars ofvarious categories ofSpeciaI & Alloy Steels

200+ Reputed and long term customers

I Toyota. Hero Moto Corp. Caterpillar.

Hino Motors. Maruti. Bajaj and Hyundai. among others

Experienced Management Team I Significant experience in Steel Industry I Long term vision and proven ability to achieve longterm goals for Company

State-of— art manufacturing facilities

I Cutting»edge manufacturing

technology

I Manufacturing Capacity

> Billets » 2.00.000 MTPA > Rolled Barsi 1.80.000

MTPA

o Strong Domestic & International Customer

Base for forging applications I Thailand. Taiwan. Turkey. Russia. Germany and

Spain

" Quality Standards, Assurance &

Certifications

ISO l4001:2004; OHSAS l8001:2007; ISO 9001:2008; ISO/TS 16949:2009

Journey So Far

0-9-0

(:0 ‘7

VARDHMAN SPECIAL STEELS lTD,

2012 - Listed on BSE &

NSE

2013 7 Installed fully automatic rolling mill with capacity of 1.50.000 TPA &

Magnaflux leakage testing system (Dr. Foerster Germany). and Ultrasonic Testingfrom (Olympus. Canada)

I July 2015 7 Installed

Fume Extraction system

I Aug 2015 7 Increased

Bright bars capacity to 36.000 TPA & 1.80.000 TPA for Hot Rolled

I Dec 2016 7 Upgraded transformer & allied

equipment to reduce meltingtime & resulting in SMS capacity to 1.65.000 TPA

2015 - 2016

I April 2017 7 Rights Issue of Rs 67.85 Cr. I Oct. 2017 7 Purchased ~8 acres of

adjoining land for Rs. 36 Cr. I Feb. 2018 7 QIP of Rs 50 Cr.

I June 2018 7 CRISIL upgraded credit

rating

I August 2018 7 Change in Statutory Auditors to M/s B. S. R. & Co. LLP I 2019 - Fortified Board of Directors 7

one Independent Woman Director and one Additional Director appointed

17 — Till Date

at We were

1973 7 Started as Oswal

Steels 7 50.000 TPA capacity of special & alloy steels

1986 7 Acquired Mohta Alloys with capacity of 1.00.000 TPA 1995 7 Installed modern

Steel Melting Shop with Electromagnetic Stirrer 20007 Commissioned

Vacuum Degassing System 2001 7 Strengthened product portfolio 7 added Bright Bar Facility 2010 - Independent identity under Vardhman Group

Transforming into one of India's leading steel bar producers

Clear focus on long term Value Creation

Q V

mmwmmmml

FY19

1,121 ‘

Crore

1, 61, 676 Tons

2,00,000

TPA

1,80,000 ‘ Q

TPA

E Listed on Stock E

I a“ Exc-h-a-n-gf-"I. m m m‘ Q m

80400 ‘

1,00,000

527 Crore

93169

Tons

128

TPA

‘

Revenue

Sales

Volume

Installed

Capacity - Billets

Installed

Capacity - Rolled Products

Debt to

Equity(x)

Strong Experienced Board of Directors contd...

vaMANspEmuerELsunl

Mr. Rajeev Gupta Chairman & Independent Director

B. Tech from BHU/IIT. Varanasi and MBA (IIM. Ahmedabad)

I Rich experience of more than 35 years » One of Country's topmost Investment Bankers

Ms. Suchita Jain

Non-Executive Director

I Master’s degree in Commerce from Punjab

University. Chandigarh

I Over 25 years of rich experience in textile

industry

I Representative of Vardhman Group

Mr. Sachit Jain

Vice Chairman & MD

B. Tech (Electrical) » IlT. New Delhi. MBA (Gold medallist) » IIM. Ahmedabad and Owner/President Management Program 7 Harvard » Experience of over 29 years in Textile & Steel Chairman of CH. Northern Region

Mr. Rajinder Kumar Jain Non-Executive Director

Chartered Mechanical Engineer from Institute of Mechanical Engineers London Retired as General Manager from Indian Railways after 3Syears of service

Mr. Sanjoy Bhattacharyya Independent Director

I B.Sc (Statistics Honours) and MBA. from IIM.

Ahmedabad

I More than 21 years of experience in equities & investment management » Among leading stock market Gurus

Strong Experienced Board of Directors contd...

Q V

WHWSPMSEELSUDI

Mr. B.K. Choudhary Non-Executive Director

Degree in B.Sc., M.Com & MBA Rich experience of more than 44 years in Steel & Textile industry

Mr. Sanjeev Pahwa Independent Director

B Tech from IlT, DelhiExperience of more than 26 years in bicycle/automobile tyres and tubes industry ChairmancumMD of Ralson (India))Ltd 7 Largest tyre manufacturer'In the World

Mr. Rakesh Jain

Independent Director

Ph.d in Polymers from the University ofAkron Worked in the Advanced Technology Group at GE Electro»materials DIVIsion (EMD) in Coshocton, OH,USA &Aditya Birla Group (ABG) as MD of Indo Gulf Fertilizers Ltd

Ms. Shubhra Bhattacharya Independent Director

' Bachelor's degree in Mathematics and MBA from

Xavier's Labor Relations Institute

' More than 25 years of experience in Human

Resource Management

Mr. Raghav Chandra Independent Director

B.Sc (Hons); M.Scin Mathematics; Master's in Public Administration, Harvard University & Various professional career trainings from Cambridge University, SIPA Columbia University, USA, IIM Ahmedabad

' Additional Secretary & Financial Advisor —various Ministries; Chairman , NHAI; CMD Indian Highway Management Co. Ltd.; Principal Secretary Urban Development, MP; Commissioner and CEO , MP Housing Board; MD7 MP SIDC; Chairman SEZ Indore

Wide Range of Rolled & Bright Bars Products

0-9-0

Hot Rolled Bars

Bright Bars

Diameter Size : Increased from 25-70

MM in 2012 to 16-120 MM

Size : 14.66 to 78 mm (Peeled), 21.35 to 50 mm (Drawn)

Diverse applications of our products

Q VMDHMAN SPECIAL SIEELS ll'l'l.

0-9-0

Axle Gears

E Q/Afic’

Knuckle Spindle

r!)

Drive-Shaft

Connecting Rod

Center Velocity Joint

Differential Gears

Bearings

Axle Shaft

Steering-Yoke

1 2

State-of-art Manufacturing facilities

(.3 V

VARDHMAN SPECIAL SYEELS LTD I

Annual Capacity : 2,00,000 TPA 30 MT Uitra High Power (UHF) Eccentric Bottom Tapping (EBT Type) Ftu automated continuous feeding system for uni & other raw materiais Automatic iance manipuiatorior oxygen and coke iniection Eiectrode reguiation system - Meit ControHer

CELOX for active oxygen measurement (Eiectronite)

Rol mg Mil

Annual Capacity :1,80,000TPA RoHing MiHinstaHedin 2013-14 MiH with compiete automation 33 TPH “Waiking” Heartn Type ReheatingFurnace Reversibie 2 high shift abie stand with Bar Manipuiator 10 Continuous Standsin Horizontai&Verticai

configuration Oniine Dimensionai Measurements

RackType Cooiing bed designed for better straigntness & Hardness ieyeis Abrasive Cutter

Annual Capacity : 36,000 TPA Bar Peeling E. Centreless Grinding

Straigntening Peehng Coid drawing Poiishing Centreiessgrinding FuH iengtn par Magnetic Particie inspection Hign Speed Band Saws CircuiarSaw-CuttoLengtnSteei

Process Flow

0-9-0

Wu, om. ma mm. smeam scua

3‘ I

’

vuxum Beam“ W!

(unllnous mm. mm

nadle Rel-um; mm

Domestic Shipmenl

Final Inspection and Dispalch ’—

Bright Bar Shop

mom mm: m mama

Spherodize Annealing

mun /

Reheat Furnace

Rolling Mill

As Rolled Bar

"Hot Rolled"

ln-House Steal MElting Shop

Q VARDHMANSPECIALSTEELSLTD,

Ladle Refining Furnace

Rolling Mill & Bright Bars

.9.

y l7

Rolling Mill

Bright Bar Shop

Reheating Furnace

Automatic Line of Bar Inspection - NDT Line

vtaowmspecmsmasunI

Chamferlng Bar ends free from

3“”

MFLT

Acce tance Criteria:

S‘leomm

Straightening Straightness : 2mm/ meter

Shot Blasting

Acceptance Criteria: SDH — 0.8x10mm, FBH — 0.8 & 1.2mm

Best in class R&D Facility

0-9-0

Spectrometer : ARL 4460:1454 for Chemical Analysis. Can check 32 different elements

CS , 230 : Analyzer for Carbon & Sulfur content in steel

LECO gas analyzer — TC 600 H1, M, 01 Analyzer

I Mobile Spectro and XRF for Mix up Testing of Bars

I Mechanical and Metallurgical Testing Lab

Rockwell Hardness Tester

Impact Testing Machine (Material Toughness)

I Metallurgical Microscope with Image Analyzer

Carl Zeis microscope with maximum magnification of 1000x

Olympus microscope with maximum magnification of ZUUUX

RADLAB-l GAMMA RAY Spectrometer

ForTesting Steel Samples for Radiological Content

Can identify different types of Isotopes present in Steel Sample and show Results in

Bq/gm

Samples Radiological content can be certified with 300 Second scan in RadLab

“Well”

XRF Spectrometer - Higher range & All input/ output material can be checked and

chemically analysed

...ensuring highest levels of quality and compliance 18

Strategically located Warehousing Facilities

0-9-0

Q mumspmmmm v r unit'wsl

i..............................................=

I One Owned Warehouse

I Bilaspur Haryana

I Five Leased Warehouses in

India

I Bangalore

I Chennai

I Rudrapur

I Pune

I Aurangabad

'. ............................................. a-

Key Strengths

0-9-0

Q v

VARDHMAN SPEClAL STEE'LS LTD

State of Art Manufacturing Facilities and advanced R&D Capabilities I Well equipped with latest upgraded Technology Machines

Diversified Product offerings I Manufactures diverse range of products with wide applications across sectors I Further expanding product offerings to increase wallet share with existing customers and adding new

clients

Rich Management Experience I Dynamic & rich experience in special steel sector I Diverse team with right mix ofoperational & technical expertise along with dedicated and skilled

employee base

Quality Standards & Assurance I Adherence to quality standards across all stages of manufacturing I Checked for dimensional accuracy & temper at every stage I Well equipped modern testing facilities to check for physical. mechanical & chemical properti

Brand Image I Continuous brand building exercise by providing excellent services to satisfy our

customers

200+ Reputed & Long term customers....

0-9--

Q ‘7

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Across Globe with Customer Base

0-9-0

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Management’s Message

0-9-0

(:0 ‘7

VARDHMAN SPECIAL STEELS lTD,

Commenting on the results Mr. Sachit Jain, Vice Chairman and

Managing Director said —

”In FY19, we faced two significant changes — in the first half there was an increase in the basic raw materials costs and in the second half the overall automotive industry witnessed a major slowdown. Though we were able to grow our volumes by 6% to 1,61, 676 tonnes for the the EBIDTA grew by only 2.5% on account of increase in year operational costs in the second half. The increase in operational costs was on account of our strategic decision to build inventory for the upcoming plant shutdown. This shutdown is to upgrade and modernize our steel melting shop that will help us to achieve our future goals and deliver consistent performance.

Overall, we remain committed to our set agenda of delivering consistent, profitable volume led growth. I thank all the stakeholders of ’Vardhman Special Steels Limited’ for their continued support and faith in our Company”

Financial Highlights - Quarterly

Q Wflmspmmm

Sales Volumes (tonnes)

41,586

42,469

43,253

Q1 FV19

Q2 FV19

Q3 FV19

38,455

Q4 FV18

Revenue from Operations (Rs. Crore)

295.49

“2'52

269 50

: :

i .

34,363

Q4 FV19

23136

Q4 FV18

243.25

Q1 FV19

Q2 FV19‘

Q3 nus"

Q4 FV19‘

EBITDA (Rs. Crore)#

PAT (Rs. Crore)

22.38

9.08

19.49

19.62

Q4 FV18

Q1 FV19

16.55

Q2 FV19

11.17

i I i

Q4 FV19

Q3 FV19

7.21

Q4 FV18

7_o7

Q2 FV19

6.21

‘0'“

Q3 FV19

Q4 FV19

Q1 FV19

* includes sale ofmw material and traded goods; #EBITDA is including Other lncame

Financial Highlights — Q4 FY19

o—e—u

Q ‘7

VARDHMAN SPECIAL STEELS lTD,

Income from Operations

243.25“

Excise Duty

Revenue From Operations

Other Income

Total Income

Cost of Materials Consumed

Purchases of Stocks

Changes In Inventory

Raw Material Expenses

Employee Expenses

Power & Fuel

Other Expenses

Total Expenditure

EBITDA

Depreciation

Interest / Finance Cost

PBT

Tax

PAT

Basic EPS in Rs.

0‘00

243.25

0.54

243.79

210.62

3.12

(73.10)

140.64

12.49

31.84

47.65

232.62

11.17

6.08

6.60

(1.51)

(1.36)

(0.15)

(0.04)

* Includes sale ofmw material and traded goods

231.36

0‘00

231.36

2.29

233.65

147.63

0.00

(20.44)

127.19

12.20

27.99

46.78

214.16

19.49

6.31

5.91

7.27

0.06

7.21

2.16

4.34%

10.57%

(42.69%)

312.52“

000

312.52

0.40

312.92

235.67

17.11

(60.01)

192.77

12.64

32.19

52.94

290.54

22.38

6.20

6.54

9.64

3.43

6.21

1.74

Increase In revenue mainly on a.“°.”"t 0f better

realizations and sale 0f

outsourced goods and raw materials

' Decline in EBITDA on

account of increase in

Operating costs - incurred to build inventory for upcoming Named P'an‘ Shu‘dm’m (Shu‘dmfm f” m°de'"'z.at'°" and ":gradat'on of Steel "mung

5 up)

- PAT declined on account of

decline in EBITDA and

increase in interest cost

Financial Highlights — FY19 vs FY18

0-9-0

Q mommspzcmsmstm v ‘

7, _

6.25%

Volume (tonnes) 1,61,676 tonnes

30.48% Revenue from 0perations* Rs; 1,120476 crore

2.47%

EBITDA#

Rs; 69471 crore

° Higher sales volumes, better realizations and sale of outsourced goods and raw materials resulting in

increasing revenue

° Decline in PAT on account of increase in depreciation and higher interest cost

* Includes sale of raw material and traded gaads; #EBITDA is including Other Income

Financial Highlights - Annual

0-9-0

Q VMDHMAN SPECIAL STEELS [10, v ., NHVJ'TLLLJ-

Sales Volumes (tonnes)

Revenue from Operations (Rs. Crore)

1, 16,401

1 21451

'636

1I31

FV16

FV17

FV15

1 52 162

1, 61, 676

I I

FV18

FV19

656.34

652.74

673-31

‘ I ‘ I ‘

FV15

FV16

FV17

‘

858.96

FV18

1,120.76

‘

FV19“

EBITDA (Rs. Crore)#

PAT (Rs. Crore)

65 49

6333

69.71

97 I I I I

FV16

FV17

FV19

FV18

1.,5

FV15

25.03

22. 21

19.15

FV19

FV18

4.22

FV16

‘

-15.12

* Includes sale ofmw material and traded goods; #EBITDA is including Other Income

Revenue Break up — Sector Wise

rea

Q WW "SPECIMEN ‘0 LMV

FY18

Two Wheelers, 32%

Commercual Vehicles, 16%

Two Wheelers, 32%

Commercial

Vehicles, 20%

Eng. & Off. Highway, 14%

Bearings, 4%

Engg. & Off. Highway, 10%

Passenger Vehicles, 34%

Passenger Vehicles, 33%

Bearings, 0%

Financial Highlights — FY19

o—e—u

Q ‘7

vWWgamma";I

1,120.76* 0.00

1,120.76

1.87

1,122.63

799.27

34.88

(162.43) 671.72

51.30

132.35

197.55

1,052.92

69.71

23.92

23.65

22.14

(0.07) 22.21

6.22

877.89

18.93

858.96

6.10

865.06

488.90

0.00

(19.22) 469.68

46.73

127.81

152.81

797.03

68.03

21.51

21.43

25.09

0.06

25.03

7.91

29.77%

2.47%

(11.27%)

(21.37%)

Income from Operations Excise Duty Revenue From Operations Other Income

Total Income

Cost of Materials Consumed

Purchases of Stocks

Changes In Inventory Raw Material Expenses Employee Expenses Power & Fuel

Other Expenses Total Expenditure EBITDA

Depreciation Interest/ Finance Cost PBT

Tax

PAT

Basic EPS in Rs.

* Includes sale ofmw material and traded goods

Balance Sheet as on 315t March 2019

Q VARDHMANSPEWMSUD

Equity” Equity Share Capital Other Equity Non-current liabilities

Financial Liabilities

(a) Borrowing

(o) Other Financial liabilities

Provisions

Other Non Current Liabilities

Current liabilities

Financial Liabilities

Borrowings Due toVMiCro, Small 81 Medium Enterprises

Otner Trade Payaoies

Other Financial Liabilities

Provisions

Other Current Liabilities

Total Equities & Liab

‘es

361.99

35.76

326.23

136.53

339.32

35.70

303.62

102.33

135.13

101.46

0.14

1.01

0.25

0.00

0.85

0.02

390.81

235.00

186.81

118.50

337

160-13

36.89

0-53

3-08

889.33

000

60-61

52-25

0-62

3.02

Non Current Assets

Property Plant 81 Equipment Capitai work in progress Other intangible assets Financial Assets

Long Term Loans Deferred Tax Assets (Net) CurrentTaxAssets(Net) Other Non Current Assets

cum“ Assets

Inventories

Financial assets

investments

Trade receivables

Cash 81 Cash equivalents Loans

OtherfinanCiai assets

Current tax assets

Other Current Assets

676.65

Total Assets

343.51

279.53

32.57

0.30

0-69

“-23

2.12

“'07

545'“

313.22

0-01

13726

0-28

1.03

7.78

0-00

36.24

889.33

288.56

249.27

6.99

0.29

1-42

9-73

0.00

2086

330.09

158.60

8-16

194.55

7-49

1.02

5.92

0-36

11.99

676.65

Increased borrowmgs on account of Inventory build-up for upcoming plant shutdown resulting In Increase In Debt to E uit (x) from 0 67 in FY18 to 0 92 in FY19

* During FY18 Company raised Rs. 58 or. through Rights Issue andRs. 50 or. through QIP (subscribed by DSP Blackmck MF andsirri durum MF)

Investing in Our Real Assets

Q7 Vardh

man Leadership Development Program

Park mmwmana 15‘ m zo'imnwzms

CCL - US based Organisation — offers leadership programs across 160 countries, FT top10 in executive education with

500K alumni over 50 years

:' a 5

I Customized leadership training _

for 12 senior management

I TraInIng programs —

functional attitudinal skill

development, quality — across all levels of employees

I Specialized & customized

programs

-. : E

: a 5

I New InItIatIve undertaken

Formalized "EiT‘iT‘E programs that focus on technical

knowledge, enhance skill sets and productive efficiencies of personnel

Way Ahead

0-9-0

Q v

VARDHMAN SPEClAL STEELS LTD

Capacity Expansion

I Increase melting capacity to 2,40,000 TPA and Rolling Capacity to

2,20,000 TPA by FY21- expected capex of approx. Rs. 200 Cr.

I Target of achieving full capacity utilization soon after completing capex

Joint Venture & Technical Alliance

I In down stream value added products namely Bright Bars

I Build strong technical alliance with global player

I Explore value added products like high alloy steel through ingot

casting route over time

De-risking Business

I Explore avenues — increase high margin products, enter

into new geographies, change in customer mix and expand into new industry applications

Th 3 n k Y0 U

u—e—o

Q VARDHMAN SPECIAL STEELS LTD, V

LL v

ESE

534392 ENSE VSSL

v-I-wll‘urm-n .u

Bloornborg VSSLIN

“mam; VARM.BO

For further information, please contact:

Company :

Investor Relations Advisors :

Vardhman Special Steels Limited CIN:L27100PB2010PLC033930

Bridge Investor Relations Pvt. Ltd. CIN: U74900MH2016PTC273679

Mr. Sanjeev Singla san'eevsinglangardhmanLom

www.vardhmansteel.com

Mr. Amit Sharma

amithbridge-ircom 022 26873003

Mr. Smit Shah

smithbridge-ircom 022 26873003

www.bridge—ir.com

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Vardhman Special Steels Limited has informed the Exchange regarding Investor Presentation on financial results for the quarter and financial year ended 31st March, 2019.

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