MarketFriction

Vikas Ecotech Ltd

NSE VIKASECO · BSE 530961 · Specialty Chemicals
₹1.01 -1.94%
NSE close2026-10-01
52 week range0.99 - 2.04
Market cap₹180 Cr.
P/E109
Price band 20% Delivery 65.1%

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

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales60.7468.4671.73101.0689.2384.76102.61103.5664.7268.72116.19119.15
Expenses55.2564.7369.0898.9484.4383.3898.9798.8862.0466.67117.24116.74
Operating Profit5.493.732.652.124.801.383.644.682.682.05-1.052.41
OPM %9.04%5.45%3.69%2.10%5.38%1.63%3.55%4.52%4.14%2.98%-0.90%2.02%
Other Income-0.250.302.5913.781.001.492.781.042.102.431.573.05
Interest1.991.450.820.900.881.091.281.181.141.550.721.07
Depreciation0.900.931.081.060.981.391.891.231.361.041.701.12
Profit before tax2.351.653.3413.943.940.393.253.312.281.89-1.903.27
Tax %25.11%24.85%31.44%25.54%27.66%241.03%-32.31%28.70%22.81%129.10%-76.32%38.84%
Net Profit1.771.232.3010.382.85-0.554.302.371.75-0.55-0.442.00
EPS in Rs0.010.010.020.060.02-0.000.020.010.01-0.01-0.000.01
Mar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales62115165252250397259376353369
Expenses58106153241237375242364345363
Operating Profit4912111322161286
OPM %7%8%7%4.2%5%6%6%3.3%2.4%1.6%
Other Income12623341979
Interest24569117454
Depreciation0122244555
Profit before tax3710451092266
Tax %10%3%1%6%22%9%27%21%44%
Net Profit3610441071733
EPS in Rs0.050.070.100.040.040.100.050.100.020.01
Dividend Payout %13%16%6%14%14%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth%%-4%-3%
Compounded Profit Growth%%-31%-82%
Stock Price CAGR-18%-10%-35%-49%
Return on Equity%%2%1%
Mar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital81010101095139139139
Reserves616242832143238254256
Borrowings193438546762192830
Other Liabilities112526434543489088
Total Liabilities448598135154343444512513
Fixed Assets91420202329545549
CWIP000000000
Investments000005522814064
Other Assets357178115131259161316400
Total Assets448598135154343444512513
Mar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-5-612-892120-60-113
Cash from Investing Activity-5-9-9-1-58-2024696
Cash from Financing Activity1015-39-41831517
Net Cash Flow-0-11-0-701-0
Free Cash Flow-11-124-1087115-65-112
CFO/OP-108%-66%100%-74%421%736%-480%-1,335%
Mar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days1099889100116130108108131
Inventory Days717958484435714247
Days Payable578042545827596659
Cash Conversion Cycle123971059410213812184118
Working Capital Days1395240333811193136266
ROCE %22%19%13%14%5%3%2%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters6.87%6.87%13.57%10.66%10.66%10.65%10.65%10.65%10.65%10.65%10.65%10.65%
FIIs9.42%0.01%0.01%0.00%0.00%0.02%0.02%0.05%0.05%0.00%0.00%0.00%
Public83.70%93.12%86.42%89.34%89.33%89.32%89.33%89.29%89.29%89.34%89.34%89.34%
No. of Shareholders3,44,4793,83,1025,01,0255,35,6025,54,5115,79,8745,96,1245,92,9475,92,9475,75,4955,67,6935,67,693

Fundamentals

Market Cap₹ 180 Cr.
Current Price₹ 1.02
Stock P/E109
Book Value₹ 2.23
ROCE2.34 %
ROE0.80 %
Dividend Yield0.00 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)-3%
Compounded Profit Growth (TTM)-82%
Consolidated figures.
Valuation
Market capRs 140 Cr
Enterprise valueRs 164 Cr
P/E (TTM)84.98x
Price to book0.36x
Price to sales0.38x
EV / EBITDA10.74x
EV / EBIT16.33x
EV / sales0.44x
Earnings yield1.18%
P/E, 3-year average38.98x
P/B, 3-year average1.04x
P/E, 5-year average26.88x
P/B, 5-year average0.93x
Profitability
Operating margin (excl. other income)3.26%
Operating margin (incl. other income)8.33%
EBITDA margin4.13%
Pre-tax margin1.50%
Net profit margin0.45%
Net margin, latest quarter1.68%
ROE4.41%
ROCE6.36%
ROA3.56%
ROE, 3-year average4.48%
ROCE, 3-year average7.14%
ROA, 3-year average3.04%
ROE, 5-year average6.53%
ROCE, 5-year average9.67%
ROA, 5-year average2.96%
ROIC (approx.)1.90%
Tax rate21.13%
Other income / net worth4.84%
Growth
Sales growth (latest year)45.42%
Profit growth (latest year)147.88%
Sales CAGR, 3 years14.59%
Sales CAGR, 5 years17.95%
Profit CAGR, 3 years67.55%
Profit CAGR, 5 years13.56%
Sales growth QoQ2.55%
Sales growth YoY (latest quarter)15.05%
Profit growth YoY (latest quarter)-15.61%
Per share
EPS (TTM)Rs 0.01
EPS (latest year)Rs 0.12
EPS (latest quarter)Rs 0.01
EPS, 3-year averageRs 0.09
EPS, 5-year averageRs 0.85
Book value per shareRs 2.83
Sales per shareRs 2.66
Cash flow per shareRs -0.43
Free cash flow per shareRs -0.81
Dividend per share, 5-year averageRs 0.27
Dividends
Dividend payout, 5-year average13.88%
Efficiency
Asset turnover0.74x
Fixed asset turnover6.81x
Inventory turnover8.73x
Inventory days42 days
Debtor days108 days
Debtors turnover3.38x
Creditor days59 days
Cash conversion cycle118 days
Working capital days266 days
Leverage
Total debtRs 28 Cr
Cash and bankRs 5 Cr
Net debtRs 23 Cr
Debt to equity0.07x
Net debt / EBITDA1.53x
Interest coverage2.24x
Owners' fund to total sources76.86%
Debt to assets5.53%
Cash flow
Cash from Operating Activity (latest year)Rs -60 Cr
Cash from Investing Activity (latest year)Rs 46 Cr
Cash from Financing Activity (latest year)Rs 15 Cr
Net Cash Flow (latest year)Rs 1 Cr
Free cash flow (latest year)Rs -112 Cr
FCFE (approx.: FCF + change in debt)Rs -103 Cr
Cash from ops / profit, 5 years0.76x
Statement figures
Net sales (TTM)Rs 369 Cr
Net sales (latest year)Rs 376 Cr
Sales (latest quarter)Rs 119 Cr
Operating profit excl. other income (latest year)Rs 12 Cr
Operating profit (latest quarter)Rs 2 Cr
Other income (TTM)Rs 9 Cr
EBITDA (TTM)Rs 15 Cr
PBDT (TTM)Rs 11 Cr
Profit before tax (TTM)Rs 6 Cr
Tax (latest year)Rs 5 Cr
Net profit (TTM)Rs 2 Cr
Net profit (latest year)Rs 17 Cr
Net profit (latest quarter)Rs 2 Cr
Depreciation (TTM)Rs 5 Cr
Depreciation (latest quarter)Rs 1 Cr
Interest (TTM)Rs 4 Cr
Cost of goods sold (latest year)Rs 346 Cr
Total expenditure (latest year)Rs 364 Cr
Total income (latest year)Rs 395 Cr
Share capitalRs 139 Cr
ReservesRs 254 Cr
Shareholders' fundsRs 393 Cr
Total assetsRs 512 Cr
Net blockRs 55 Cr
InvestmentsRs 140 Cr
ReceivablesRs 111 Cr
InventoryRs 40 Cr
Other liabilitiesRs 90 Cr
Shares outstanding (crore)138.84
Ownership
Promoter holding10.65% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 85.0 is at the 39th percentile of its own 7.5-year range (median 100.2, low 18.3, high 370.7).
P/B 0.36 is the lowest in 10.1 years (median 12.17).
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.
PeriodVIKASECONifty 50Difference
1 week-1.9%-2.8% +0.8 pts
1 month-7.3%-6.8% -0.5 pts
3 months-18.5%-7.6% -10.9 pts
6 months+2.0%+0.4% +1.6 pts
1 year-50.0%-9.9% -40.1 pts
2 years-72.3%-13.6% -58.7 pts
3 years-72.7%+14.2% -86.9 pts
5 years-51.9%+27.9% -79.8 pts

Red flags

F-score 3 of 8
explainHigh accruals Profit exceeded operating cash by 15% of total assets in 2026
lookShare dilution Share count up 27% in a year
lookProfit leans on other income Other income was 88% of pre-tax profit in 2026
lookAuditor change Auditor change 2026-08-17: Vikas EcoTech Limited has informed the Exchange regarding Change in Auditors of the company.
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 ₹119 Cr +15.1% vs Jun 2025. Net profit ₹2 Cr -15.6%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2024-09-23Annual General Meeting
2023-09-22Annual General Meeting
2022-09-21Annual General Meeting
2021-11-24 Rights 12:25@ Premium Rs 0.60/-
2021-09-17 Annual General Meeting
2021-06-09 Rights 13:10 @ Premium Rs 0.35/-
2020-09-21 Annual General Meeting
2019-09-19 Dividend - Rs 0.05 Per Sh
2018-11-19 Scheme Of Arrangement Of Demerger
2018-09-19 Annual General Meeting/Dividend- Re 0.05 Per Share
2017-09-20 Annual General Meeting/Dividend - Re 0.05 Per Share
2016-09-22 Annual General Meeting/ Dividend - Re 0.05/- Per Share
2015-09-22 Annual General Meeting/ Dividend - Re 0.05/- Per Share
2014-11-13Bonus 3 : 20.4000
2014-09-19Annual General Meeting / Dividend - Re 0.05/- Per Share
2014-03-27Face Value Split From Rs 10/- To Re 1/-0.1000
2013-09-19Annual General Meeting / Dividend - Re 0.50/- Per Share
2012-09-18Annual General Meeting/Dividend Re 0.50 Per Share
DateTypeWhat it says
2026-09-17General UpdatesIntimation of approval for extension of time for holding Annual General Meeting (AGM) for the financial year ended March 31, 2026
2026-09-08General UpdatesGeneral Updates
2026-08-26Board meeting outcomeResult outcome of board Meeting
2026-08-19General UpdatesGeneral Updates
2026-08-17Change in AuditorsChange in Auditors of the company.
2026-08-17Board meeting outcomeOutcome of Board Meeting held on August 17, 2026.
2026-07-15General UpdatesGeneral Updates
2026-07-15Clarification - Financial ReThe Exchange has sought clarification from Vikas EcoTech Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (Listing ...
2026-07-11Board meeting outcome: Outcome of Board Meeting held on July 1, 2026
2026-07-03General UpdatesNewspaper Advertisement of Audited Financial Results of the Company for the Quarter and Financial Year ended March 31, 2026
2026-07-01Board meeting outcomeVikas EcoTech Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-06-23General UpdatesGeneral Updates
2026-06-15Disclosure under SEBI TakeovVikas Garg has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquis...
2026-04-14General UpdatesDisclosure under Regulation 30 of the SEBI (LODR) Regulations, 2015 Receipt of Income Tax Demand Order(s)
2026-04-04General UpdatesCertificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter and year ended March 31, 2026
2026-02-17Clarification - Financial ReThe Exchange has sought clarification from Vikas EcoTech Limited for the quarter ended 31-Dec-2025 with respect to Regulation 33 of the SEBI (Listing ...
2026-02-07General UpdatesGeneral Updates
2026-02-07General UpdatesGeneral Updates
2026-02-05Board meeting outcomeVikas EcoTech Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
2026-02-05Board meeting outcomeBoard meeting held on February 05, 2026.
2026-01-20Press ReleaseA press release dated January 20, 2026, titled "Website Temporarily Taken Offline for Preventive Technical Review".
2026-01-16Clarification - Financial ReThe Exchange has sought clarification from Vikas EcoTech Limited for the quarter ended 30-Sep-2025 with respect to Regulation 33 of the SEBI (Listing ...
2026-01-06Board meeting outcomeVikas EcoTech Limited has submitted to the Exchange, the financial results for the period ended September 30, 2025.
2025-12-29UpdatesMedia Release.
2025-12-20General 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.
Order dateForumCase
2021-02-26NCLTVikas Ecotech Ltd. Vs Jindal Specialty Textiles Ltd.
2020-03-18NCLTVikas Ecotech Ltd. Vs Jindal Specialty Textiles Ltd.
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Scrip PE is greater than 50 (4 trailing quarters)
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03