MarketFriction

Vaishali Pharma Ltd

NSE VAISHALI · Pharmaceuticals
₹8.38 +0.36%
NSE close2026-10-01
52 week range4.75 - 11.88
Market cap₹109 Cr.
P/E25.8
Price band 10% Delivery 80.7%

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
Sales12.5727.9032.4018.0820.7927.9132.2523.7533.4524.6526.9322.89
Expenses9.9224.9539.1915.7318.3726.5538.2922.3832.0623.0927.1321.40
Operating Profit2.652.95-6.792.352.421.36-6.041.371.391.56-0.201.49
OPM %21.08%10.57%-20.96%13.00%11.64%4.87%-18.73%5.77%4.16%6.33%-0.74%6.51%
Other Income0.300.470.910.420.711.071.000.840.840.891.260.58
Interest0.470.430.400.380.380.380.440.330.400.510.720.20
Depreciation0.120.120.140.120.120.120.120.140.170.130.160.14
Profit before tax2.362.87-6.422.272.631.93-5.601.741.661.810.181.73
Tax %27.97%26.13%-26.95%25.11%25.10%24.87%-23.39%26.44%28.31%28.18%-50.00%13.87%
Net Profit1.702.11-4.681.701.971.44-4.291.281.181.300.271.49
EPS in Rs0.160.20-0.440.160.180.13-0.400.120.090.100.020.11
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales67646875605476708699109108
Expenses66606573595169608598105104
Operating Profit133213792144
OPM %0.8%5%4.1%2.8%1.5%4.9%9%13%1.9%0.6%3.8%3.9%
Other Income312222222344
Interest333333222222
Depreciation000000001011
Profit before tax-011101691155
Tax %300%32%41%37%62%26%30%25%23%34%25%
Net Profit-011101471144
EPS in Rs-0.040.150.080.070.000.100.380.630.070.080.310.32
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth5%15%16%3%
Compounded Profit Growth63%31%-15%960%
Stock Price CAGR%18%-11%-26%
Return on Equity6%7%3%6%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital0.500.5037711111111112626
Reserves331141511121630323943
Borrowings252123181717182115131219
Other Liabilities172518253028463424243335
Total Liabilities46494564696686827980110123
Fixed Assets211111112222
CWIP000000001100
Investments000000000005
Other Assets44484362676484807677107116
Total Assets46494564696686827980110123
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-450-9432111-180
Cash from Investing Activity2311-0-0-0-101-0-5
Cash from Financing Activity2-8-18-4-3-20-2-1185
Net Cash Flow00-000001-010-0
Free Cash Flow-550-10432011-18-0
CFO/OP1,252%842%16%-326%212%433%78%31%28%185%-3,104%19%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days133221214240240286453282281209172170
Inventory Days132071156542022013
Days Payable661451001361301693211631209511681
Cash Conversion Cycle809612111511512313712218111677102
Working Capital Days9825149798124146111208169231212
ROCE %14%13%16%13%10%7%10%19%22%6%5%9%
Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Jul 2026
Promoters26.62%26.32%26.32%26.32%26.32%26.32%26.32%26.32%31.61%31.61%31.61%30.54%
Public73.38%73.68%73.68%73.67%73.68%73.68%73.68%73.68%68.39%68.39%68.39%69.46%
No. of Shareholders9,1819,3909,47918,98327,54628,87428,68227,75227,14826,53426,67126,697

Fundamentals

Market Cap₹ 109 Cr.
Current Price₹ 8.39
Stock P/E25.8
Book Value₹ 5.29
ROCE8.93 %
ROE6.02 %
Dividend Yield0.00 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)3%
Compounded Profit Growth (TTM)960%
Standalone figures.
Valuation
Market capRs 109 Cr
Enterprise valueRs 127 Cr
P/E (TTM)25.78x
Price to book1.58x
Price to sales1.01x
EV / EBITDA16.23x
EV / EBIT17.58x
EV / sales1.17x
Price to cash flow352.67x
Earnings yield3.88%
P/E, 3-year average78.93x
P/B, 3-year average1.27x
P/E, 5-year average48.17x
P/B, 5-year average0.89x
Profitability
Operating margin (excl. other income)3.80%
Operating margin (incl. other income)7.33%
EBITDA margin7.24%
Pre-tax margin4.99%
Net profit margin3.93%
Net margin, latest quarter6.51%
ROE6.02%
ROCE8.93%
ROA3.46%
ROE, 3-year average3.09%
ROCE, 3-year average6.52%
ROA, 3-year average1.74%
ROE, 5-year average9.10%
ROCE, 5-year average12.01%
ROA, 5-year average3.65%
ROIC (approx.)6.24%
Tax rate25.23%
Other income / net worth5.57%
Growth
Sales growth (latest year)9.84%
Profit growth (latest year)391.46%
Sales CAGR, 3 years16.01%
Sales CAGR, 5 years15.13%
Profit CAGR, 3 years-15.16%
Profit CAGR, 5 years30.86%
Sales growth QoQ-15.00%
Profit growth QoQ451.85%
Sales growth YoY (latest quarter)-3.62%
Profit growth YoY (latest quarter)16.41%
Per share
EPS (TTM)Rs 0.33
EPS (latest year)Rs 0.31
EPS (latest quarter)Rs 0.11
EPS, 3-year averageRs 0.35
EPS, 5-year averageRs 2.22
Book value per shareRs 5.29
Sales per shareRs 8.27
Cash flow per shareRs 0.02
Free cash flow per shareRs -0.00
Efficiency
Asset turnover0.88x
Fixed asset turnover64.36x
Inventory turnover28.00x
Inventory days13 days
Debtor days170 days
Debtors turnover2.14x
Creditor days81 days
Cash conversion cycle102 days
Working capital days212 days
Leverage
Total debtRs 19 Cr
Cash and bankRs 1 Cr
Net debtRs 17 Cr
Debt to equity0.27x
Net debt / EBITDA2.24x
Interest coverage3.94x
Owners' fund to total sources55.96%
Debt to assets15.33%
Cash flow
Cash from Operating Activity (latest year)Rs 0 Cr
Cash from Investing Activity (latest year)Rs -5 Cr
Cash from Financing Activity (latest year)Rs 5 Cr
Net Cash Flow (latest year)Rs -0 Cr
Free cash flow (latest year)Rs -0 Cr
FCFE (approx.: FCF + change in debt)Rs 7 Cr
Cash from ops / profit, 5 years-0.88x
Sales to cash flow350.87x
Statement figures
Net sales (TTM)Rs 108 Cr
Net sales (latest year)Rs 109 Cr
Sales (latest quarter)Rs 23 Cr
Operating profit excl. other income (latest year)Rs 4 Cr
Operating profit (latest quarter)Rs 1 Cr
Other income (TTM)Rs 4 Cr
EBITDA (TTM)Rs 8 Cr
PBDT (TTM)Rs 6 Cr
Profit before tax (TTM)Rs 5 Cr
Tax (latest year)Rs 1 Cr
Net profit (TTM)Rs 4 Cr
Net profit (latest year)Rs 4 Cr
Net profit (latest quarter)Rs 1 Cr
Depreciation (TTM)Rs 1 Cr
Depreciation (latest quarter)Rs 0 Cr
Interest (TTM)Rs 2 Cr
Cost of goods sold (latest year)Rs 95 Cr
Total expenditure (latest year)Rs 105 Cr
Total income (latest year)Rs 113 Cr
Share capitalRs 26 Cr
ReservesRs 43 Cr
Shareholders' fundsRs 69 Cr
Total assetsRs 123 Cr
Net blockRs 2 Cr
Capital work in progressRs 0 Cr
InvestmentsRs 5 Cr
ReceivablesRs 51 Cr
InventoryRs 3 Cr
Other liabilitiesRs 35 Cr
Shares outstanding (crore)13.05
Ownership
Promoter holding30.54% (+4.22 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 25.8 is at the 9th percentile of its own 7.6-year range (median 70.9, low 22.8, high 399.2).
P/B 1.58 is at the 6th percentile (median 3.32).
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.
PeriodVAISHALINifty 50Difference
1 week-1.8%-2.8% +1.0 pts
1 month+4.4%-6.8% +11.2 pts
3 months+14.6%-7.6% +22.3 pts
6 months+71.7%+0.4% +71.3 pts
1 year-30.4%-9.9% -20.5 pts
2 years-57.0%-13.6% -43.4 pts
3 years-29.9%+14.2% -44.1 pts
5 years+126.5%+27.9% +98.6 pts

Red flags

F-score 4 of 8
explainWeak cash conversion Cash from operations was -304% of net profit over the last 3 years
lookShare dilution Share count up 22% in a year, 24% in three
lookProfit leans on other income Other income was 71% 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 ₹23 Cr -3.6% vs Jun 2025. Net profit ₹1 Cr +16.4%.
Against our estimate for Jun 2026: sales +12.2%, profit +65.9% in line. Our estimate for Sep 2026: sales Rs 30 Cr, profit Rs 1 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2024-10-15Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 2/- Per Share0.2000
2024-10-15Bonus 1:10.5000
2024-09-19Annual General Meeting
2023-09-22Annual General Meeting
2022-12-27Extra Ordinary General Meeting
2022-09-23Annual General Meeting
2021-09-22 Annual General Meeting
2021-07-28 Extra Ordinary General Meeting
2020-09-22 Annual General Meeting
DateTypeWhat it says
2026-09-24Shareholder meetingVoting results.
2026-09-24Shareholder meetingProceedings of Annual General Meeting held on September 24, 2026
2026-09-04General UpdatesGeneral Updates
2026-09-01General UpdatesBook Closure for the 19th AGM
2026-09-01Record DateRecord date for the purpose of Meeting is 17-Sep-2026.
2026-09-01Shareholder meetingNotice of Annual General Meeting to be held on September 24, 2026
2026-08-14ResignationResignation of Director/KMP/SMP
2026-08-14ResignationResignation of Director/KMP/SMP
2026-08-14ResignationResignation of Director/KMP/SMP
2026-08-14ResignationResignation of Bhaveshkumar Popatlal Upadhyay as Non- Executive Independent Director of the company w.e.f. August 14, 2026.
2026-08-14Board meeting outcomeVaishali Pharma Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-09Board meeting outcomeOutcome of Board Meeting held on July 08, 2026.
2026-07-04Shareholder meetingVoting results.
2026-07-03General UpdatesGeneral Updates
2026-07-03AllotmentAllotment of 4537865 securities pursuant to Preferential Issue at its meeting held on July 03, 2026
2026-07-02Board meeting outcomeOutcome of Board Meeting held on July 02, 2026.
2026-06-24Clarification - Financial ReThe Exchange has sought clarification from Vaishali Pharma Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (Listin...
2026-06-18General UpdatesGeneral Updates
2026-06-03Shareholder meetingNotice of Postal Ballot
2026-05-30Board meeting outcomeVaishali Pharma Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-05-23Board meeting outcomeOutcome of Board Meeting held on May 23, 2026.
2026-04-22Price movementSignificant movement in price has been observed in Vaishali Pharma Limited. The Exchange, in order to ensure that investors have latest relevant infor...
2026-04-21Price movementSignificant movement in price has been observed in Vaishali Pharma Limited. The Exchange, in order to ensure that investors have latest relevant infor...
2026-04-10Disclosure under SEBI TakeovAtul Arvindbhai Vasani has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substa...
2026-04-02General UpdatesGeneral Updates
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.
High low price variation greater than 150perc in previous 12 months

Quick answers

What is the market cap of Vaishali Pharma Ltd?

Vaishali Pharma Ltd (VAISHALI) has a market capitalisation of Rs 109 Cr. at the 2026-10-01 close.

What is the P/E ratio of Vaishali Pharma Ltd?

Vaishali Pharma Ltd trades at a P/E of 25.8 on trailing twelve-month profit, at the 2026-10-01 close.

What were Vaishali Pharma Ltd's latest quarterly results?

In the Jun 2026 quarter, Vaishali Pharma Ltd sales was Rs 23 Cr (-3.6% vs Jun 2025) and net profit was Rs 1 Cr.

What is the 52-week high and low of Vaishali Pharma Ltd?

The 52-week high is Rs 11.88 and the 52-week low is Rs 4.75.

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