MarketFriction

Vaswani Industries Ltd

NSE VASWANI · BSE 533576 · Sponge Iron
₹44.36 -0.47%
NSE close2026-10-01
52 week range43.26 - 69.99
Market cap₹145 Cr.
Price band 20% Delivery 71.2%

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
Sales87.11118.3290.3691.74102.16102.34115.40114.2885.01124.19143.89117.79
Expenses83.49112.4883.7686.4896.1996.72105.52104.5978.76120.70123.20103.74
Operating Profit3.625.846.605.265.975.629.889.696.253.4920.6914.05
OPM %4.16%4.94%7.30%5.73%5.84%5.49%8.56%8.48%7.35%2.81%14.38%11.93%
Other Income0.400.460.600.320.210.32-2.010.310.240.090.190.62
Interest1.902.141.621.091.252.013.643.173.414.206.796.16
Depreciation0.940.950.950.930.941.411.111.471.442.264.193.97
Profit before tax1.183.214.633.563.992.523.125.361.64-2.889.904.54
Tax %28.81%28.04%33.05%29.21%41.35%29.76%36.22%-2.05%17.68%176.74%45.56%74.45%
Net Profit0.852.323.102.522.331.771.995.471.34-7.965.391.16
EPS in Rs0.280.771.030.840.780.560.631.750.41-2.421.640.35
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales238255237319352314374390389412467471
Expenses221239221301339296355369366385427426
Operating Profit161616181418192122274044
OPM %7%6%7%5%3.9%6%5%5%6%7%9%9%
Other Income100120122-111
Interest9991010999881821
Depreciation6655544444912
Profit before tax12330571112131413
Tax %15%-7%-78%65%1,681%21%39%44%27%35%70%
Net Profit1251-3446994-0
EPS in Rs0.400.591.500.39-0.841.351.472.003.012.741.29-0.02
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth7%8%6%8%
Compounded Profit Growth14%1%-11%-101%
Stock Price CAGR19%31%15%-18%
Return on Equity4%6%6%3%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital292930303030303030303133
Reserves54575657636872778392106117
Borrowings47454248515342533633156277
Other Liabilities313231365545535753346881
Total Liabilities161163160171198196197217201189362508
Fixed Assets66676257545956545152112335
CWIP0000000004679
Investments777277777723
Other Assets888891111137129133156143126180162
Total Assets161163160171198196197217201189362508
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity24184491029-030313418
Cash from Investing Activity-2-8-0-1-2-1-1-2-1-9-134-158
Cash from Financing Activity-22-10-9-3-7-8-212-26-11122111
Net Cash Flow11-5-0117141122-29
Free Cash Flow2211337928-22922-93-156
CFO/OP139%115%24%23%54%71%156%-0%140%147%132%50%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days41343863495662494617712
Inventory Days507559679489694859547388
Days Payable475049557668524742234751
Cash Conversion Cycle455948766776795062493448
Working Capital Days1051125303142314244920
ROCE %9%8%8%9%9%7%10%11%13%13%11%9%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters58.33%58.33%58.33%58.33%58.33%60.12%60.12%60.12%62.06%62.06%62.06%62.06%
FIIs0.00%0.00%0.01%0.00%0.16%0.00%0.12%0.01%0.02%0.11%0.00%0.13%
Public41.67%41.68%41.65%41.67%41.50%39.87%39.76%39.87%37.92%37.83%37.95%37.81%
No. of Shareholders12,32312,14014,76213,96015,32416,33517,31216,79015,68915,16114,56714,030

Fundamentals

Market Cap₹ 145 Cr.
Current Price₹ 44.5
Book Value₹ 45.6
ROCE8.76 %
ROE2.95 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)8%
Compounded Profit Growth (TTM)-101%
Standalone figures.
Valuation
Market capRs 146 Cr
Enterprise valueRs 407 Cr
Price to book0.97x
Price to sales0.31x
EV / EBITDA8.92x
EV / EBIT12.05x
EV / sales0.86x
Price to cash flow7.97x
Earnings yield-0.05%
P/E, 3-year average20.74x
P/B, 3-year average0.89x
P/E, 5-year average17.15x
P/B, 5-year average0.75x
Profitability
Operating margin (excl. other income)8.59%
Operating margin (incl. other income)8.76%
EBITDA margin9.69%
Pre-tax margin2.80%
Net profit margin-0.01%
Net margin, latest quarter0.98%
ROE2.95%
ROCE8.76%
ROA0.97%
ROE, 3-year average5.76%
ROCE, 3-year average10.48%
ROA, 3-year average2.91%
ROE, 5-year average5.40%
ROCE, 5-year average10.91%
ROA, 5-year average2.75%
ROIC (approx.)2.49%
Tax rate69.74%
Other income / net worth0.55%
Growth
Sales growth (latest year)13.52%
Profit growth (latest year)-50.70%
Sales CAGR, 3 years6.20%
Sales CAGR, 5 years8.25%
Profit CAGR, 3 years-10.98%
Profit CAGR, 5 years0.87%
Sales growth QoQ-18.14%
Profit growth QoQ-78.48%
Sales growth YoY (latest quarter)3.07%
Profit growth YoY (latest quarter)-78.79%
Per share
EPS (TTM)Rs -0.02
EPS (latest year)Rs 1.29
EPS (latest quarter)Rs 0.35
EPS, 3-year averageRs 2.35
EPS, 5-year averageRs 2.10
Book value per shareRs 45.56
Sales per shareRs 142.92
Cash flow per shareRs 5.56
Free cash flow per shareRs -47.35
Efficiency
Asset turnover0.92x
Fixed asset turnover1.40x
Inventory turnover4.86x
Inventory days75 days
Debtor days12 days
Debtors turnover30.94x
Creditor days51 days
Cash conversion cycle48 days
Working capital days20 days
Leverage
Total debtRs 277 Cr
Cash and bankRs 16 Cr
Net debtRs 261 Cr
Debt to equity1.85x
Net debt / EBITDA5.72x
Interest coverage1.64x
Owners' fund to total sources29.53%
Debt to assets54.49%
Cash flow
Cash from Operating Activity (latest year)Rs 18 Cr
Cash from Investing Activity (latest year)Rs -158 Cr
Cash from Financing Activity (latest year)Rs 111 Cr
Net Cash Flow (latest year)Rs -29 Cr
Free cash flow (latest year)Rs -156 Cr
FCFE (approx.: FCF + change in debt)Rs -35 Cr
Cash from ops / profit, 5 years3.53x
Sales to cash flow25.49x
Statement figures
Net sales (TTM)Rs 471 Cr
Net sales (latest year)Rs 467 Cr
Sales (latest quarter)Rs 118 Cr
Operating profit excl. other income (latest year)Rs 40 Cr
Operating profit (latest quarter)Rs 14 Cr
Other income (TTM)Rs 1 Cr
EBITDA (TTM)Rs 46 Cr
PBDT (TTM)Rs 25 Cr
Profit before tax (TTM)Rs 13 Cr
Tax (latest year)Rs 10 Cr
Net profit (TTM)Rs -0 Cr
Net profit (latest year)Rs 4 Cr
Net profit (latest quarter)Rs 1 Cr
Depreciation (TTM)Rs 12 Cr
Depreciation (latest quarter)Rs 4 Cr
Interest (TTM)Rs 21 Cr
Cost of goods sold (latest year)Rs 400 Cr
Total expenditure (latest year)Rs 427 Cr
Total income (latest year)Rs 468 Cr
Share capitalRs 33 Cr
ReservesRs 117 Cr
Shareholders' fundsRs 150 Cr
Total assetsRs 508 Cr
Net blockRs 335 Cr
Capital work in progressRs 9 Cr
InvestmentsRs 3 Cr
ReceivablesRs 15 Cr
InventoryRs 82 Cr
Other liabilitiesRs 81 Cr
Shares outstanding (crore)3.29
Ownership
Promoter holding62.06% (+1.94 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/B 0.97 is at the 74th percentile (median 0.61).
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.
PeriodVASWANINifty 50Difference
1 week-1.6%-2.8% +1.2 pts
1 month-9.7%-6.8% -2.9 pts
3 months-19.3%-7.6% -11.7 pts
6 months-11.4%+0.4% -11.8 pts
1 year-22.6%-9.9% -12.6 pts
2 years-9.9%-13.6% +3.6 pts
3 years+50.9%+14.2% +36.7 pts
5 years+287.4%+27.9% +259.5 pts

Red flags

F-score 4 of 8
explainDebt up, profit down Borrowings up 77% while net profit fell 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 ₹118 Cr +3.1% vs Jun 2025. Net profit ₹1 Cr -78.8%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2024-09-13Annual General Meeting
2021-09-20 Annual General Meeting
2020-09-22 Annual General Meeting
2019-09-20 Annual General Meeting
2018-10-19 Annual General Meeting
2017-09-20 Annual General Meeting
2017-04-27 Extraordinary General Meeting
2016-09-15 Annual General Meeting
2015-09-03 Annual General Meeting
2014-09-03Annual General Meeting
2013-08-14Annual General Meeting
2012-11-19Annual General Meeting
2011-09-29Bonus 1:40.8000
DateTypeWhat it says
2026-10-01Shareholder meetingVoting results of Annual General Meeting held on September 30, 2026
2026-10-01Shareholder meetingVaswani Industries Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 30, 2026
2026-09-30Shareholder meetingProceedings of Annual General Meeting held on September 30, 2026
2026-09-07Shareholder meetingNotice of Annual General Meeting to be held on September 30, 2026
2026-09-03Board meeting outcomeOutcome of Board Meeting held on September 03, 2026.
2026-08-14Board meeting outcomeVaswani Industries Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-09Shareholder meetingVaswani Industries Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot
2026-06-19Disclosure under SEBI TakeovVaswani Industries Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) and 31 (5) of the Securities and Exchange Board o...
2026-06-08Shareholder meetingNotice of Postal Ballot
2026-06-04Board meeting outcomeOutcome of Board Meeting held on Jun 04, 2026.
2026-05-31Board meeting outcomeOutcome of Board Meeting held on May 30, 2026.
2026-05-31Board meeting outcomeVaswani Industries Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-05-18Board meeting outcomeOutcome of Board Meeting held on May 18, 2026.
2026-05-18AppointmentAppointment of Mr. Rituraj Peswani (DIN: 00040277) as Non- Executive Independent Director of the company w.e.f. May 19, 2026.
2026-04-24General UpdatesReceipt of Listing and Trading Approval for 16,00,000 Equity Shares
2026-03-12General UpdatesGeneral Updates
2026-02-28Board meeting outcomeVaswani Industries Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
2026-02-14Reasons for Delayed/Non-submReasons for Delayed/Non-submission of Financial Results
2026-02-09Shareholder meetingVaswani Industries Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot
2026-02-07General UpdatesReceipt of In-Principle Approval from BSE for listing
2026-01-09Shareholder meetingNotice of Postal Ballot
2025-12-09AppointmentAppointment of as Other of the company w.e.f. December 09, 2025.
2025-12-09Board meeting outcomeOutcome of Board Meeting held on December 09, 2025.
2025-12-04General UpdatesUpdate on 50 MWp-DC Solar Power Project at Mohbhatta
2025-11-19General UpdatesGeneral Updates-approval of CGECB for additional MS Billet Unit
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.
Order dateForumCase
2018-12-07CESTATVASWANI INDUSTRIES LTD ---VS.--- RAIPUR
2017-08-08CESTATVASWANI INDUSTRIES LTD. ---VS.--- C.C.E. RAIPUR
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Less than 100 unique PAN traded in previous 30 days
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03