MarketFriction

Vipul Ltd

NSE VIPULLTD · BSE 511726 · Residential, Commercial Projects
₹10.59 -3.73%
NSE close2026-10-01
52 week range7.38 - 18.60
Market cap₹161 Cr.
ESM Price band 5%

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
Mar 2026 from the NSE filing of 2026-10-01 - newer than our usual source.
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales6.117.47157.1435.7715.8615.7011.2644.261.697.959.1941
Expenses12.4010.6978.2820.4212.4810.929.0367.6614.2811.0610.5359
Operating Profit-6.29-3.2278.8615.353.384.782.23-23.40-12.59-3.11-1.34-18
OPM %-102.95%-43.11%50.18%42.91%21.31%30.45%19.80%-52.87%-744.97%-39.12%-14.58%-44%
Other Income2.112.3413.54211.312.733.202.872.2911.8110.743.2411
Interest10.516.5710.26-3.273.616.140.6813.070.520.280.436
Depreciation0.630.720.710.690.690.690.690.740.120.120.260
Profit before tax-15.32-8.1781.43229.241.811.153.73-34.92-1.427.231.21-14
Tax %0.00%109.06%22.41%11.57%0.00%0.00%0.00%0.09%0.00%0.00%0.00%
Net Profit-15.31-17.0863.18202.721.811.143.73-34.95-1.427.241.21-15
EPS in Rs-1.28-1.425.2716.900.130.080.26-2.48-0.100.510.09-1.10
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales23418523228422617637138752068763
Expenses224172212253196203901605912299104
Operating Profit1013203130-26-53-221685-12-40
OPM %4.5%7%9%11%13%-15%-141%-16%22%41%-14%-64%
Other Income31148725135-852291128
Interest263334363332302938242514
Depreciation126654433331
Profit before tax-13-11-15-3-2-38-73-49-109287-28-28
Tax %-16%-7%-22%45%-170%-10%-24%-14%7%19%0%
Net Profit-11-10-12-51-34-56-42-117234-28-28
EPS in Rs-0.94-0.82-0.99-0.400.10-2.86-4.63-3.49-9.7819.46-2.01-1.98
Dividend Payout %0%0%-5%-13%49%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth-9%-13%-14%-20%
Compounded Profit Growth%8%9%-116%
Stock Price CAGR-18%-18%-13%20%
Return on Equity0%6%22%-7%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital121212121212121212121414
Reserves368358346354354315260219103340363399
Borrowings2993794576656526416336032661888580
Other Liabilities6587096886878519359841,0111,009716728698
Total Liabilities1,3371,4581,5031,7171,8691,9031,8891,8451,3901,2551,1901,191
Fixed Assets2871961008270675948465219
CWIP4428101111121212121255
Investments13133777766624
Other Assets1,2521,3451,3941,5991,7701,8141,8041,7681,3241,1901,1301,163
Total Assets1,3371,4581,5031,7171,8691,9031,8891,8451,3901,2551,1901,191
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity30-109-46-56-166-311625817421-11243
Cash from Investing Activity-7-20-18-242171616920712
Cash from Financing Activity-221314650165-26-115-265-43-357-138-77
Net Cash Flow11-18-84-899-1073-43-22
Free Cash Flow21-131-75-62-167611825918421-10542
CFO/OP270%-965%-337%-260%-558%14%-455%-490%-87%2,620%-105%-352%
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days1602123912902805327923,2548556084391,142
Inventory Days4,8246,783
Days Payable421846
Cash Conversion Cycle1602123912902805327923,2545,2586086,3771,142
Working Capital Days4306438606277309581,0021,375213141292855
ROCE %3%2%3%2%4%3%-2%-5%-2%4%66%-0%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters63.43%63.43%60.52%51.51%31.04%20.33%18.25%18.25%18.25%18.25%18.25%18.25%
FIIs0.00%0.00%0.19%1.87%7.23%6.13%7.25%9.65%8.81%11.27%13.20%10.42%
DIIs0.00%0.00%0.00%2.65%0.52%2.65%0.63%0.63%0.44%1.48%1.66%2.65%
Public36.57%36.58%39.29%43.96%61.21%70.89%73.88%71.49%72.49%68.99%66.89%68.69%
No. of Shareholders7,2397,7438,9769,32421,07227,91830,81530,92830,76329,97028,23627,971

Fundamentals

Market Cap₹ 161 Cr.
Current Price₹ 11.4
Book Value₹ 29.3
ROCE-0.44 %
ROE-7.41 %
Dividend Yield0.00 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)-20%
Compounded Profit Growth (TTM)-116%
Consolidated figures.
Valuation
Market capRs 149 Cr
Enterprise valueRs 194 Cr
Price to book0.40x
Price to sales2.37x
EV / sales3.07x
Price to cash flow3.47x
Earnings yield-18.70%
P/E, 3-year average1.37x
P/B, 3-year average0.82x
P/E, 5-year average1.37x
P/B, 5-year average0.94x
Profitability
Operating margin (excl. other income)-13.52%
Operating margin (incl. other income)-0.79%
EBITDA margin-19.59%
Pre-tax margin-44.22%
Net profit margin-44.25%
Net margin, latest quarter13.17%
ROE-7.76%
ROCE-0.70%
ROA-2.31%
ROE, 3-year average8.18%
ROCE, 3-year average18.40%
ROA, 3-year average2.70%
ROE, 5-year average-2.12%
ROCE, 5-year average9.65%
ROA, 5-year average0.58%
ROIC (approx.)-3.23%
Tax rate-0.18%
Other income / net worth2.94%
Growth
Sales growth (latest year)-57.83%
Profit growth (latest year)-112.12%
Sales CAGR, 3 years-14.28%
Sales CAGR, 5 years-13.17%
Sales growth QoQ15.60%
Profit growth QoQ-83.29%
Sales growth YoY (latest quarter)-18.38%
Profit growth YoY (latest quarter)-67.56%
Per share
EPS (TTM)Rs -1.98
EPS (latest year)Rs -2.01
EPS (latest quarter)Rs 0.09
EPS, 3-year averageRs 2.56
EPS, 5-year averageRs -0.09
Book value per shareRs 26.75
Sales per shareRs 4.48
Cash flow per shareRs 3.05
Free cash flow per shareRs 2.98
Efficiency
Asset turnover0.07x
Fixed asset turnover1.67x
Inventory turnover0.18x
Inventory days1987 days
Debtor days1142 days
Debtors turnover0.32x
Creditor days846 days
Cash conversion cycle1142 days
Working capital days855 days
Leverage
Total debtRs 85 Cr
Cash and bankRs 40 Cr
Net debtRs 45 Cr
Debt to equity0.23x
Interest coverage-0.95x
Current ratio (filing 2026-03-31)1.41x
Quick ratio (filing 2026-03-31)0.84x
Trade payables (filing 2026-03-31)Rs 44 Cr
Owners' fund to total sources31.69%
Debt to assets7.13%
Cash flow
Cash from Operating Activity (latest year)Rs 43 Cr
Cash from Investing Activity (latest year)Rs 12 Cr
Cash from Financing Activity (latest year)Rs -77 Cr
Net Cash Flow (latest year)Rs -22 Cr
Free cash flow (latest year)Rs 42 Cr
FCFE (approx.: FCF + change in debt)Rs -61 Cr
Sales to cash flow2.03x
Statement figures
Net sales (TTM)Rs 63 Cr
Net sales (latest year)Rs 87 Cr
Sales (latest quarter)Rs 9 Cr
Operating profit excl. other income (latest year)Rs -12 Cr
Operating profit (latest quarter)Rs -1 Cr
Other income (TTM)Rs 28 Cr
EBITDA (TTM)Rs -12 Cr
PBDT (TTM)Rs -27 Cr
Profit before tax (TTM)Rs -28 Cr
Tax (latest year)Rs 0 Cr
Net profit (TTM)Rs -28 Cr
Net profit (latest year)Rs -28 Cr
Net profit (latest quarter)Rs 1 Cr
Depreciation (TTM)Rs 1 Cr
Depreciation (latest quarter)Rs 0 Cr
Interest (TTM)Rs 14 Cr
Cost of goods sold (latest year)Rs 81 Cr
Total expenditure (latest year)Rs 99 Cr
Total income (latest year)Rs 98 Cr
Share capitalRs 14 Cr
ReservesRs 363 Cr
Shareholders' fundsRs 377 Cr
Total assetsRs 1,190 Cr
Net blockRs 52 Cr
Capital work in progressRs 5 Cr
InvestmentsRs 2 Cr
ReceivablesRs 272 Cr
InventoryRs 440 Cr
Other liabilitiesRs 728 Cr
Shares outstanding (crore)14.10
Ownership
Promoter holding18.25% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/B 0.40 is at the 7th percentile (median 1.22).
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.
PeriodVIPULLTDNifty 50Difference
1 week+0.3%-2.8% +3.1 pts
1 month-28.6%-6.8% -21.8 pts
3 months-31.0%-7.6% -23.3 pts
6 months+0.3%+0.4% -0.1 pts
1 year+9.1%-9.9% +19.0 pts
2 years-69.4%-13.6% -55.8 pts
3 years-37.7%+14.2% -51.9 pts
5 years-64.1%+27.9% -92.0 pts

Red flags

F-score 3 of 8
explainReceivables outrunning sales Receivables grew 10% vs sales -58% in 2025
lookInventory outrunning sales Inventory grew 0% vs sales -58% in 2025
lookShare dilution Share count up 18% in a year, 18% in three
lookOn NSE surveillance On NSE surveillance: ESM
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

Mar 2026 · NSE filing 2026-10-01
Sales ₹41 Cr -7.4% vs Mar 2025. Net loss ₹15 Cr.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2024-09-13Annual General Meeting
2024-03-21Extra Ordinary General Meeting
2023-09-22Annual General Meeting
2022-09-21Annual General Meeting
2021-09-20 Annual General Meeting
2020-09-16 Annual General Meeting
2019-09-12 Annual General Meeting/Dividend - Rs 0.05 Per Share
2018-09-19 Annual General Meeting/Dividend Re 0.05 Per Share
2017-09-13 Annual General Meeting/Dividend - Re 0.04 Per Share
2016-11-23 Interim Dividend Re 0.01 Per Share
2016-09-15 Annual General Meeting
2015-09-15 Annual General Meeting
DateTypeWhat it says
2026-10-01UpdatesNewspaper clippings for audited financial results.
2026-09-30Board meeting outcomeVipul Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-09-29Board meeting outcomeVipul Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026
2026-09-17Board meeting outcomeOutcome of Board Meeting held on September 15, 2026.
2026-09-15UpdatesIntimation of approval received from the Registrar of Companies, Delhi forextension of Annual General Meeting for the financial year ended 31.03.2026
2026-09-15Address ChangeChange in Registered Office of the company.
2026-09-03UpdatesDisclosure pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015...
2026-09-02Reasons for Delayed/Non-submReasons for Delayed/Non-submission of Financial Results
2026-09-02UpdatesClarification regarding disclosure under Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
2026-06-29AppointmentAppointment of as Non- Executive Independent Director of the company w.e.f. Jun 26, 2026.
2026-06-29AppointmentAppointment of MR DIPESH JASVANTLAL SHAH as Non- Executive Independent Director of the company w.e.f. Jun 26, 2026.
2026-06-11Disclosure under SEBI TakeovSunita Beriwala has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial A...
2026-06-05ResignationResignation of Mr. Rajeev Gupta as Non- Executive Independent Director of the company w.e.f. Jun 04, 2026.
2026-06-05ResignationResignation of Director/KMP/SMP
2026-05-29UpdatesIntimation regarding delay in convening Board & Committees Meeting within prescribed timelines..
2026-04-23Amalgamation/MergerAmalgamation/Merger
2026-03-07Regulatory actionAction(s) initiated
2026-03-03Regulatory actionAction(s) initiated
2026-02-27AllotmentAllotment of 88900000 securities pursuant to Convertible Securities at its meeting held on February 27, 2026
2026-02-18Diversification/DisinvestmenDiversification/Disinvestment
2026-02-14General UpdatesUnaudited Financial Results for the Quarter and Nine Months ended December 31, 2025
2026-02-14Board meeting outcomeVipul Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
2026-02-07Shareholder meetingWith copy of minutes of Extra Ordinary General Meeting held on January 08, 2026
2026-01-09Shareholder meetingShareholders meeting
2026-01-08Shareholder meetingProceedings of Extraordinary General Meeting held on January 08, 2026
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
2021-07-12NCLTM/s. Rangbarshi Projects Pvt. Ltd. Vs Vipul Ltd.
2021-07-06NCLTM/s. Rangbarshi Projects Pvt. Ltd. Vs Vipul Ltd.
2021-05-21NCLATVipul Ltd & Anr VS Solitaire Capital India & Ors
2021-05-11NCLATVipul Ltd & Anr VS Solitaire Capital India & Ors
2021-04-19NCLATVipul Ltd & Anr VS Solitaire Capital India & Ors
2021-04-05NCLTM/s. Vipul Greens Residents Welfare Associates Vs M/s. Vipul Ltd.
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
EPS in the scrip is zero (4 trailing quarters)ESM: stage 1Less 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