MarketFriction

Vishwaraj Sugar Industries Ltd

NSE VISHWARAJ · BSE 542852 · Sugar
₹5.18 -1.52%
NSE close2026-10-01
52 week range4.14 - 8.50
Market cap₹115 Cr.
ASM long-term Price band 20% Delivery 62.8%

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
Sales13810616410193931671335578111107
Expenses13963141108104761541416278106118
Operating Profit-14323-7-111712-8-7-15-11
OPM %-1.0%41%14%-7%-12%19%7%-6%-12%-0.7%4.5%-10%
Other Income111111521223
Interest779771367541412
Depreciation444444444456
Profit before tax-113310-17-2218-16-14-7-13-26
Tax %0%6%77%0%0%0%74%0%0%0%-186%0%
Net Profit-11312-17-2212-16-14-711-26
EPS in Rs-0.601.660.12-0.92-1.000.030.09-0.75-0.66-0.310.50-1.19
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales335284222285362425467611546452376351
Expenses305238198259323363374545479440386364
Operating Profit31462426386293666712-10-13
OPM %9%16%11%9%11%15%20%11%12%2.6%-2.6%-3.7%
Other Income9110010232867
Interest212521364236322830343035
Depreciation111213131515161616161819
Profit before tax710-1-24-1712472622-31-52-60
Tax %37%42%395%-26%-52%32%-28%192%35%19%-46%
Net Profit46-4-18-8860-2314-37-28-36
EPS in Rs0.260.35-0.25-1.02-0.420.443.20-1.250.77-1.70-1.29-1.66
Dividend Payout %78%0%0%0%0%45%6%-8%26%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth1%-2%-15%-28%
Compounded Profit Growth%%-7%-2%
Stock Price CAGR%-29%-34%-34%
Return on Equity-1%-1%-6%-11%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital353535353538383838384444
Reserves201201198194177184188245218231237209
Borrowings159172238315339347376370356366391421
Other Liabilities2312037281169103110117115165148154
Total Liabilities625610543624720672712770726799819828
Fixed Assets246244241272264288282300298287276481
CWIP5138011000412420122
Investments000111111113
Other Assets374365264352443382429469423387340323
Total Assets625610543624720672712770726799819828
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity315562-5525495635521465037
Cash from Investing Activity-50-6-45-6-18-27-9-33-18-125-83-45
Cash from Financing Activity28-18-5556-12-16-6-38-44-22410
Net Cash Flow931-39-5-6641-36-11-18-7
Free Cash Flow-184916-617224723421-32-6
CFO/OP162%179%137%-222%99%128%93%39%79%227%431%-382%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days161957564926262526272422
Inventory Days448337348689580387339429242257247297
Days Payable5627712028379110499149121
Cash Conversion Cycle458351377674428330286344219193222198
Working Capital Days195-13-51-1713-43339-23-32-100
ROCE %7%8%4%2%4%8%13%8%9%0%-3%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters33.70%33.70%33.70%33.70%29.05%29.05%29.04%29.05%29.05%29.05%29.05%29.05%
FIIs0.23%0.00%0.26%0.13%3.30%1.38%0.40%0.09%0.00%0.03%0.00%0.00%
DIIs0.00%0.00%0.00%0.00%6.37%5.50%5.79%5.74%3.76%3.75%2.03%1.29%
Public66.07%66.31%66.04%66.18%61.28%64.07%64.77%65.13%67.19%67.18%68.91%69.67%
No. of Shareholders1,59,3101,60,0321,64,8361,61,0441,56,8581,58,1031,57,1121,55,2321,52,5291,49,0031,45,8571,44,029

Fundamentals

Market Cap₹ 115 Cr.
Current Price₹ 5.26
Book Value₹ 10.4
ROCE-3.28 %
ROE-10.6 %
Dividend Yield0.00 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)-28%
Compounded Profit Growth (TTM)-2%
Standalone figures.
Valuation
Market capRs 113 Cr
Enterprise valueRs 531 Cr
Price to book0.45x
Price to sales0.32x
EV / sales1.51x
Price to cash flow3.03x
Earnings yield-31.90%
P/E, 3-year average18.39x
P/B, 3-year average0.66x
P/E, 5-year average9.83x
P/B, 5-year average0.66x
Profitability
Operating margin (excl. other income)-2.59%
Operating margin (incl. other income)-1.00%
EBITDA margin-1.65%
Pre-tax margin-16.99%
Net profit margin-10.26%
Net margin, latest quarter-24.13%
ROE-10.56%
ROCE-3.28%
ROA-3.42%
ROE, 3-year average-6.17%
ROCE, 3-year average1.90%
ROA, 3-year average-2.03%
ROE, 5-year average-0.72%
ROCE, 5-year average5.35%
ROA, 5-year average-0.22%
ROIC (approx.)-1.99%
Tax rate45.59%
Other income / net worth2.37%
Growth
Sales growth (latest year)-16.80%
Sales CAGR, 3 years-14.93%
Sales CAGR, 5 years-2.42%
Sales growth QoQ-3.57%
Profit growth QoQ-336.41%
Sales growth YoY (latest quarter)-19.53%
Per share
EPS (TTM)Rs -1.65
EPS (latest year)Rs -1.29
EPS (latest quarter)Rs -1.19
EPS, 3-year averageRs -0.74
EPS, 5-year averageRs 2.51
Book value per shareRs 11.61
Sales per shareRs 16.11
Cash flow per shareRs 1.71
Free cash flow per shareRs -0.28
Dividend per share, 3-year averageRs 0.20
Dividend per share, 5-year averageRs 0.43
Dividends
Dividend payout, 3-year average25.93%
Dividend payout, 5-year average16.09%
Efficiency
Asset turnover0.45x
Fixed asset turnover0.78x
Inventory turnover1.39x
Inventory days263 days
Debtor days22 days
Debtors turnover16.60x
Creditor days121 days
Cash conversion cycle198 days
Working capital days-100 days
Leverage
Total debtRs 421 Cr
Cash and bankRs 3 Cr
Net debtRs 418 Cr
Debt to equity1.66x
Interest coverage-0.70x
Owners' fund to total sources30.56%
Debt to assets50.81%
Cash flow
Cash from Operating Activity (latest year)Rs 37 Cr
Cash from Investing Activity (latest year)Rs -45 Cr
Cash from Financing Activity (latest year)Rs 0 Cr
Net Cash Flow (latest year)Rs -7 Cr
Free cash flow (latest year)Rs -6 Cr
FCFE (approx.: FCF + change in debt)Rs 24 Cr
Sales to cash flow10.11x
Statement figures
Net sales (TTM)Rs 351 Cr
Net sales (latest year)Rs 376 Cr
Sales (latest quarter)Rs 107 Cr
Operating profit excl. other income (latest year)Rs -10 Cr
Operating profit (latest quarter)Rs -11 Cr
Other income (TTM)Rs 7 Cr
EBITDA (TTM)Rs -6 Cr
PBDT (TTM)Rs -41 Cr
Profit before tax (TTM)Rs -60 Cr
Tax (latest year)Rs -24 Cr
Net profit (TTM)Rs -36 Cr
Net profit (latest year)Rs -28 Cr
Net profit (latest quarter)Rs -26 Cr
Depreciation (TTM)Rs 19 Cr
Depreciation (latest quarter)Rs 6 Cr
Interest (TTM)Rs 35 Cr
Cost of goods sold (latest year)Rs 348 Cr
Total expenditure (latest year)Rs 386 Cr
Total income (latest year)Rs 382 Cr
Share capitalRs 44 Cr
ReservesRs 209 Cr
Shareholders' fundsRs 253 Cr
Total assetsRs 828 Cr
Net blockRs 481 Cr
Capital work in progressRs 22 Cr
InvestmentsRs 3 Cr
ReceivablesRs 23 Cr
InventoryRs 251 Cr
Other liabilitiesRs 154 Cr
Shares outstanding (crore)21.78
Ownership
Promoter holding29.05% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/B 0.45 is at the 4th percentile (median 1.39).
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.
PeriodVISHWARAJNifty 50Difference
1 week-1.9%-2.8% +0.9 pts
1 month-12.8%-6.8% -6.0 pts
3 months-3.5%-7.6% +4.1 pts
6 months+23.9%+0.4% +23.5 pts
1 year-35.0%-9.9% -25.1 pts
2 years-71.6%-13.6% -58.0 pts
3 years-71.9%+14.2% -86.1 pts
5 years-82.2%+27.9% -110.1 pts

Red flags

F-score 4 of 8
lookRepeated losses Net loss in each of the last two years
lookOn NSE surveillance On NSE surveillance: ASM long-term
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 ₹107 Cr -19.5% vs Jun 2025. Net loss ₹26 Cr.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2024-09-20Dividend - Rs 0.20 Per Share
2023-09-01Annual General Meeting
2023-02-21Interim Dividend - Rs 0.10 Per Share
2022-08-18Dividend - Re 0.20 Per Share
2021-10-21 Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 2/- Per Share0.2000
2021-09-16 Annual General Meeting/Dividend - Re 1 Per Share
DateTypeWhat it says
2026-09-28Shareholder meetingVoting results.
2026-09-28Shareholder meetingProceedings of Annual General Meeting held on September 28, 2026
2026-08-13Board meeting outcomeVishwaraj Sugar Industries Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-15UpdatesIn accordance with Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, we are enclosing herewith a copy of the certificate...
2026-06-16Disclosure under SEBI TakeovVishwaraj Sugar Industries Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of I...
2026-05-29Board meeting outcomeVishwaraj Sugar Industries Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-04-16UpdatesCertificate under Regulation 74(5) of the SEBI [Depositories and Participants) Regulations, 2018 for the quarter/year ended March 31, 2026.
2026-02-12Board meeting outcomeVishwaraj Sugar Industries Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
2026-01-27UpdatesCertificate under Regulation 74(5) of the SEBI [Depositories and Participants) Regulations, 2018 for the quarter ended December 31, 2025.
2025-12-04Updates.
2025-11-13Board meeting outcomeVishwaraj Sugar Industries Limited has submitted to the Exchange, the financial results for the period ended September 30, 2025.
2025-10-29UpdatesCertificate under Regulation 74(5) of the SEBI [Depositories and Participants) Regulations,2018 for the half year ended September 30, 2025..
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.
EPS in the scrip is zero (4 trailing quarters)Long Term Additional Surveillance Measure (Long Term ASM): stage 1
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03