MarketFriction

Vapi Enterprise Ltd

BSE 502589 · Paper & Paper Products
₹123.30 +4.09%
BSE close2026-09-18
Market cap₹28.0 Cr.
P/E19.3

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales0.540.410.530.500.510.570.600.620.600.560.620.58
Expenses0.170.130.220.100.140.080.100.100.130.100.100.10
Operating Profit0.370.280.310.400.370.490.500.520.470.460.520.48
OPM %68.52%68.29%58.49%80.00%72.55%85.96%83.33%83.87%78.33%82.14%83.87%82.76%
Other Income-0.19-0.010.000.00-0.010.000.000.000.000.000.020.00
Interest0.000.000.000.000.000.000.000.000.000.000.000.00
Depreciation0.000.000.000.000.000.000.000.000.000.000.000.00
Profit before tax0.180.270.310.400.360.490.500.520.470.460.540.48
Tax %50.00%33.33%32.26%30.00%27.78%14.29%28.00%23.08%23.40%28.26%22.22%25.00%
Net Profit0.090.180.210.280.260.420.360.400.350.330.420.36
EPS in Rs0.390.790.921.231.141.841.581.751.531.451.841.58
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2.702.152.472.112.502.311.431.430.000.000.002.36
Expenses2.832.512.612.602.492.301.961.680.670.410.440.43
Operating Profit-0.13-0.36-0.14-0.490.010.01-0.53-0.25-0.67-0.41-0.441.93
OPM %-4.81%-16.74%-5.67%-23.22%0.40%0.43%-37.06%-17.48%67.94%81.19%81.33%81.78%
Other Income0.820.820.630.710.650.541.0949.371.922.172.420.02
Interest0.080.070.040.040.010.000.000.000.000.000.000.00
Depreciation0.280.250.230.210.130.190.170.130.000.010.000.00
Profit before tax0.330.140.22-0.030.520.360.3948.991.251.751.981.95
Tax %0.00%0.00%0.00%0.00%0.00%13.89%33.33%21.43%32.80%24.57%24.24%
Net Profit0.330.130.22-0.030.510.310.2638.490.831.321.491.46
EPS in Rs1.450.570.96-0.132.241.361.14168.703.645.796.536.40
Dividend Payout %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth%%%3%
Compounded Profit Growth15%36%10%11%
Stock Price CAGR32%34%11%3%
Return on Equity%%4%4%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital2.282.282.282.282.282.282.282.282.282.282.282.28
Reserves-9.05-8.72-8.59-8.37-8.39-7.88-7.57-7.3131.1832.0133.3234.82
Borrowings8.558.088.017.927.807.737.517.290.470.470.470.47
Other Liabilities1.842.291.972.111.571.361.2021.2912.580.660.650.67
Total Liabilities3.623.933.673.943.263.493.4223.5546.5135.4236.7238.24
Fixed Assets2.592.532.362.181.981.981.801.761.210.010.010.00
CWIP0.000.000.000.000.080.000.000.000.000.000.000.00
Investments0.020.020.020.020.020.020.020.010.010.010.010.09
Other Assets1.011.381.291.741.181.491.6021.7845.2935.4036.7038.15
Total Assets3.623.933.673.943.263.493.4223.5546.5135.4236.7238.24
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity0.100.290.700.290.040.400.440.047.818.89-30.09-6.91
Cash from Investing Activity-0.18-0.20-0.03-0.04-0.06-0.040.010.2331.352.802.182.32
Cash from Financing Activity0.10-0.09-0.54-0.13-0.15-0.09-0.22-0.22-6.82-11.88-0.020.03
Net Cash Flow0.020.000.130.11-0.170.280.240.0532.34-0.19-27.92-4.55
Free Cash Flow-0.240.070.620.24-0.050.350.44-0.1058.319.88-30.09-6.91
CFO/OP-333%-223%-194%-207%-8%4,000%4,400%-8%-3,124%-1,327%7,339%1,570%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days25.1751.3711.8896.0548.4440.8850.5658.7138.29
Inventory Days
Days Payable
Cash Conversion Cycle25.1751.3711.8896.0548.4440.8850.5658.7138.29
Working Capital Days-18.8867.59-37.3563.5413.84-29.2028.445.10-234.83
ROCE %24.76%25.73%19.16%20.96%4.55%33.51%17.01%17.86%7.85%4.13%4.97%5.32%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters38.79%38.79%38.79%38.79%38.79%38.79%38.79%38.79%38.79%38.79%38.35%38.35%
FIIs0.01%0.01%0.01%0.01%0.01%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
DIIs0.00%0.00%0.00%0.00%0.00%0.01%0.01%0.01%0.01%0.01%0.01%0.01%
Public61.20%61.21%61.20%61.21%61.21%61.21%61.21%61.20%61.20%61.20%61.64%61.64%
No. of Shareholders1,2171,2441,2341,2301,3261,3091,3151,3111,3181,3171,3031,294

Fundamentals

Market Cap₹ 28.0 Cr.
Current Price₹ 123
Stock P/E19.3
Book Value₹ 163
ROCE5.32 %
ROE4.04 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)3%
Compounded Profit Growth (TTM)11%
Standalone figures.
Valuation
Market capRs 28 Cr
Enterprise valueRs 28 Cr
P/E (TTM)19.27x
Price to book0.76x
Price to sales11.92x
EV / EBITDA14.49x
EV / EBIT14.49x
EV / sales11.97x
Earnings yield5.19%
P/E, 3-year average22.35x
P/B, 3-year average0.72x
P/E, 5-year average20.30x
P/B, 5-year average0.19x
Profitability
EBITDA margin82.63%
Pre-tax margin82.63%
Net profit margin61.86%
Net margin, latest quarter62.07%
ROE4.10%
ROCE5.38%
ROA3.98%
ROE, 3-year average3.44%
ROCE, 3-year average4.65%
ROA, 3-year average3.22%
ROE, 5-year average55.21%
ROCE, 5-year average60.42%
ROA, 5-year average24.29%
ROIC (approx.)3.97%
Tax rate24.24%
Other income / net worth6.52%
Growth
Profit growth (latest year)12.88%
Profit CAGR, 3 years-66.17%
Profit CAGR, 5 years36.89%
Sales growth QoQ-6.45%
Profit growth QoQ-14.29%
Sales growth YoY (latest quarter)-6.45%
Profit growth YoY (latest quarter)-10.00%
Per share
EPS (TTM)Rs 6.40
EPS (latest year)Rs 6.53
EPS (latest quarter)Rs 1.58
EPS, 3-year averageRs 5.32
EPS, 5-year averageRs 37.16
Book value per shareRs 162.62
Sales per shareRs 10.34
Cash flow per shareRs -30.29
Free cash flow per shareRs -30.29
Efficiency
Cash conversion cycle38 days
Working capital days-235 days
Leverage
Total debtRs 0 Cr
Cash and bankRs 0 Cr
Net debtRs 0 Cr
Debt to equity0.01x
Net debt / EBITDA0.06x
Owners' fund to total sources97.02%
Debt to assets1.23%
Cash flow
Cash from Operating Activity (latest year)Rs -7 Cr
Cash from Investing Activity (latest year)Rs 2 Cr
Cash from Financing Activity (latest year)Rs 0 Cr
Net Cash Flow (latest year)Rs -5 Cr
Free cash flow (latest year)Rs -7 Cr
FCFE (approx.: FCF + change in debt)Rs -7 Cr
Cash from ops / profit, 5 years-0.48x
Statement figures
Net sales (TTM)Rs 2 Cr
Sales (latest quarter)Rs 1 Cr
Operating profit (latest quarter)Rs 0 Cr
Other income (TTM)Rs 2 Cr
EBITDA (TTM)Rs 2 Cr
PBDT (TTM)Rs 2 Cr
Profit before tax (TTM)Rs 2 Cr
Tax (latest year)Rs 0 Cr
Net profit (TTM)Rs 1 Cr
Net profit (latest year)Rs 1 Cr
Net profit (latest quarter)Rs 0 Cr
Cost of goods sold (latest year)Rs 0 Cr
Total income (latest year)Rs 2 Cr
Share capitalRs 2 Cr
ReservesRs 35 Cr
Shareholders' fundsRs 37 Cr
Total assetsRs 38 Cr
InvestmentsRs 0 Cr
Other liabilitiesRs 1 Cr
Shares outstanding (crore)0.23
Ownership
Promoter holding38.35% (-0.44 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 19.3 is at the 51th percentile of its own 8.2-year range (median 18.1, low 0.5, high 88.5).
P/B 0.76 is at the 48th percentile (median 0.76).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
Period502589Nifty 50Difference
1 week-1.4%-2.8% +1.4 pts
1 month-20.5%-6.8% -13.7 pts
3 months+10.6%-7.6% +18.3 pts
3 years+27.3%+14.2% +13.1 pts
5 years+377.0%+27.9% +349.1 pts

Red flags

F-score 4 of 6
explainWeak cash conversion Cash from operations was -772% of net profit over the last 3 years
explainHigh accruals Profit exceeded operating cash by 22% of total assets in 2026
lookProfit leans on other income Other income was 122% of pre-tax profit in 2026
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹1 Cr -6.5% vs Jun 2025. Net profit ₹0 Cr -10.0%.

Activity

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No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Vapi Enterprise Ltd?

Vapi Enterprise Ltd (502589) has a market capitalisation of Rs 28.0 Cr. at the 2026-09-18 close.

What is the P/E ratio of Vapi Enterprise Ltd?

Vapi Enterprise Ltd trades at a P/E of 19.3 on trailing twelve-month profit, at the 2026-09-18 close.

What were Vapi Enterprise Ltd's latest quarterly results?

In the Jun 2026 quarter, Vapi Enterprise Ltd sales was Rs 1 Cr (-6.5% vs Jun 2025) and net profit was Rs 0 Cr.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03