Please find enclosed herewith Un-Audited Financial Results of the Company for the quarter ended 30.06.2026.

G@) | Vardhman VARDHMAN SPECIAL STEELS LIMITED - Delivering Excellence. Since 1965. CHANDIGARH ROAD Vardhman LUDHIANA-141010, PUNJAB T: +91-161-2228943-48 F: +91-161-2601048 E: secretarial.lud@vardhman.com Ref. VSSL:SCY:JULY:2026-27 Dated: 22.07.2026 BSE Limited, The National Stock Exchange of India Ltd, New Trading Ring, Exchange Plaza, Bandra-Kurla Complex, Rotunda Building, P.J. Towers, Bandra (East), Dalal Street, MUMBAI-400001. MUMBAI-400 051 Scrip Code: 534392 Scrip Code: VSSL SUB: DISCLOSURE UNDER REGULATION 30& 3 3 OF SEBI (LISTING OBLIGATIONS AND DISCLOS REQUIREMENTS) REGULATIONS, 2015. Dear Sir, Pursuant to Regulation 30 read with Part A of Schedule IIl and Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith Un-Audited Financial Results of the Company for the quarter ended 30" June, 2026 together with Limited Review Report as approved by Board of Directors in its meeting held on 224 July, 2026. The meeting of the Board of Directors commenced at 10:30 a.m. and concluded at 01:55 p.m. Kindly take the same on record. Thanking you, Yours faithfully, For VARDHMAN SPECIAL STEELS LIMITED (SONAM DHINGRA) COMPANY SECRETARY YARNS | FABRICS | THREADS | GARMENTS | FIBRES | STEELS CIN: L271 00PB2010PLC033930 WWW.VARDHMANSTEEL.COM Www VARDH NAN. CoM Bn ID CESS SSE ATED BA Te ne BLE Creer city pan Floor Tower-C B S R & Co. LLP Gurugram - 122 002, India Chartered Accountants Tel: +91 124 719 1000 Fax: +91 124 235 8613 Limited Review Report on unaudited financial results of Vardhman Special Steels Limited for the quarter ended 30 June 2026 pursuant to Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended To the Board of Directors of Vardhman Special Steels Limited 1. We have reviewed the accompanying Statement of unaudited financial results of Vardhman Special Steels Limited (hereinafter referred to as “the Company”) for the quarter ended 30 June 2026 (“the Statement’). This Statement, which is the responsibility of the Company's management and approved by its Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 “interim Financial Reporting’ (“Ind AS 34”), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“Listing Regulations’). Our responsibility is to issue a report on the Statement based on our review. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 “Review of Interim Financial information Performed by the Independent Auditor of the Entity’, issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A:review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be. identified in an audit. Accordingly, we do not express an audit opinion. Attention is drawn to the fact that the figures for the three months ended 31 March 2026 as reported in the Statement are the balancing figures between audited figures in respect of the full previous financial year and the published year to date figures up to the third quarter of the previous financial year. The figures up to the end of the third quarter of previous financial year had only been reviewed and not subjected to audit. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it Registered Office: BSR &Co (a partnership firm with Registration No. BA61223) converted into BS R & Co. LLP (a 14th Floor. Central B Wing and North C Wing, Nesco IT Park 4, Nesco Limited Liability Partnership with LLP Registration No. AAB-8181) with effect from October 14, 2013 Center, Westem Express Highway, Goregaon (East), Mumbai - 400063 ' Page 1 of 2 BSR&Co.LLP Limited Review Report (Continued) Vardhman Special Steels Limited contains any material misstatement. ForBSR &Co. LLP Chartered Accountants Firm’s Registration No.:101248VW/W-100022 Shweta Kumar Partner Membership No.: 509822 Gurugram UDIN:26509822VPXYYQ6093 22 July 2026 Page 2 of 2 VARDHMAN SPECIAL STEELS LIMITED Regd.Office Vardhman Premises, Chandigarh Road, Ludhiana-141010 Corporate Identity Number (CIN): L27100PB2010PLC033930 Website: www.vardhmansteel.com Email: secretarial.lud@vardhman.com Statement of Unaudited Financial Result s for the quarter ended 30 June 2026 (Rs. in lakhs) Quarter Ended Year Ended Sr, : No Particulars 30.06.2026 31.03.2026 30.06.2025 31.03.2026 (Unaudited) (Refer note-3) (Unaudited) (Audited) 1 |Revenue from operations 48,600.70 45,791.54 43,369.85 1,75,443.31 2 |Other income (also refer to note 1) 985,71 1,045.67 749,74 4,234.60 3 | Total income (1+2) 49,586.41 46,837.21 44,119.59 1,79,677.91 4 |Expenses: a) Cost of materials consumed 29,322.44 24,137.27 22,887.85 97,439.28 b) Changes in inventories of finished goods and work-in-progress (1,488.76) 2,845.99 4,127.01 6,166.48 c) Employee benefits expense 3,214.95 2,974.19 2,619.98 11,427.87 d) Finance cost 331.50 275.75 356.46 1,190.58 e) Depreciation and amortisation expense 957.18 779.64 899.58 3,286.68 f) Other expenses - Power and fuel expense 5,091.33 4,682.10 4,361.42 19,048.03 - Others 6,617.70 6,543.52 6,190.47 24,714.05 Total expenses 44,046.34 42,238.46 41,442.77 1,63,272.97 5 |Profit before tax (3-4) 5,540.07 4,598.75 2,676.82 16,404.94 6 |Tax expense - Current tax 1,230.21 976.12 619.87 3.791.00 - Deferred tax 191.29 224,69 67.44 411.55 7 |Profit after tax (5-6) 4,118.57 3,397.94 1,989.51 12,202.39 8 |Other comprehensive income Items that will not be reclassified to profit or loss (i) Remeasurements of the defined benefit plans 9.88 18.40 (10.46) 5925 (ii) Income tax relating to items that will not be reclassified to profit or loss (2.49) (4.63) 2.63 (14.91) Other comprehensive income/(loss) for the period/year (net of tax) 7.39 13.77 (7.83) 44.34 9 |Total comprehensive income for the period/year (7+8) 4,125.96 3,411.71 1,981.68 12,246.73 10 |Karnings per equity share (in Rs.) (not annualised for quarters): (a) Basic , 4.26 3.52 2.43 13.15 (b) Diluted 4.25 3.51 2.43 13.13 11 |Paid-up equity capital (face value Rs. 10/- per share) 9,668.57 9,668.57 8,173.33 9,668.57 12 |Other equity 1,18,063.41 See accompanying notes to the unaudited financial results VARDHMAN SPECIAL STEELS LIMITED Reed.Office Vardhman Premises, Chandigarh Road, Ludhiana-141010 Corporate Identity Number (CIN): L27100PB2010PLC033930 Website: www.vardhmansteel.com Email: secretarial.lud@vardhman.com Notes to financial results: 1 The Company is eligible for incentives under Industrial and Business Development Policy 2017 of the State Government for its expansion cum upgradation project of Steel Melt Shop completed in FY 2019-20. Pursuant to the necessary approvals from the competent authorities resulting in satisfaction of recognition conditions for government grants in accordance with Ind AS 20, the Company has recorded Rs, 380.17 lakhs in current quarter and Rs. 501.17 lakhs in the preceding quarter ended 31 March 2 [Showing first 8,000 characters — download PDF for full document]