Vardhman Special Steel on Tuesday announced plans to invest Rs 475 crore to set up a new steel manufacturing facility in Ludhiana, Punjab, expanding its footprint into automotive components.
The company’s regulatory filing states that the new facility will focus on steel forging and machining, leveraging technical expertise from Aichi Steel Corporation. The initiative aims to deliver higher quality consistency, improved supply reliability, and closer customer alignment, following Japanese quality standards across the manufacturing chain.
The investment is intended to strengthen Vardhman’s position within the automotive supply chain, broaden its value-added product portfolio, and enhance participation across critical automotive components. The facility is also expected to deepen customer relationships and support long-term growth opportunities.
Sachit Jain, Chairman and Managing Director of Vardhman Special Steel, said:
“Our entry into steel forgings is a natural progression of our steelmaking operations and positions us as a more comprehensive partner to automotive OEMs.”
In a related regulatory update, the company disclosed that central tax authorities in Pune have imposed a penalty of Rs 11.56 lakh for generating a second e-bill by a customer. Vardhman Special Steel stated that it is filing an appeal against the order and that the penalty will not affect the company’s financial operations or ongoing activities.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Readers should consult financial professionals before making investment decisions.
