Vipul Ltd

₹ 14.0 -1.96%

04 Sep - close price

About

Incorporated in 1991, Vipul Ltd is in the
business of Real Estate Development^[1]

Key Points

Business Overview:^[1]
Company is a part of the Vipul Group. Its projects include a range of residential, commercial, retail, integrated townships, and lifestyle gated communities, built in
partnership with contractors and consultants.
Company portfolio consists of over 10 million sq. ft. of delivered properties for over 7,000 customers in Gurugram and it has also undertaken projects in other key cities such as Bhubaneswar, Ludhiana, Dharuhera, Bawal, and Faridabad

Website BSE NSE - BE

Market Cap ₹ 197 Cr.
Current Price ₹ 14.0
High / Low ₹ 18.7 / 7.38
Stock P/E
Book Value ₹ 29.3
Dividend Yield 0.00 %
ROCE -0.44 %
ROE -7.41 %
Face Value ₹ 1.00

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Pros

Company has reduced debt.
Stock is trading at 0.48 times its book value

Cons

Company has low interest coverage ratio.
The company has delivered a poor sales growth of -13.2% over past five years.
Promoter holding is low: 18.2%
Contingent liabilities of Rs.439 Cr.
Promoters have pledged 30.7% of their holding.
Company has high debtors of 1,142 days.
Company's cost of borrowing seems high
Promoter holding has decreased over last 3 years: -45.2%
Working capital days have increased from 429 days to 855 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Consumer Discretionary Realty Realty Residential, Commercial Projects

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	6.28	8.11	6.11	7.47	157.14	35.77	15.86	15.70	11.26	44.26	1.69	7.95	9.19
	11.26	12.76	12.40	10.69	78.28	20.42	12.48	10.92	9.03	67.66	14.28	11.06	10.53
Operating Profit	-4.98	-4.65	-6.29	-3.22	78.86	15.35	3.38	4.78	2.23	-23.40	-12.59	-3.11	-1.34
OPM %	-79.30%	-57.34%	-102.95%	-43.11%	50.18%	42.91%	21.31%	30.45%	19.80%	-52.87%	-744.97%	-39.12%	-14.58%
	2.33	3.69	2.11	2.34	13.54	211.31	2.73	3.20	2.87	2.29	11.81	10.74	3.24
Interest	10.57	6.28	10.51	6.57	10.26	-3.27	3.61	6.14	0.68	13.07	0.52	0.28	0.43
Depreciation	0.71	0.68	0.63	0.72	0.71	0.69	0.69	0.69	0.69	0.74	0.12	0.12	0.26
Profit before tax	-13.93	-7.92	-15.32	-8.17	81.43	229.24	1.81	1.15	3.73	-34.92	-1.42	7.23	1.21
Tax %	-0.07%	-12.50%	0.00%	109.06%	22.41%	11.57%	0.00%	0.00%	0.00%	0.09%	0.00%	0.00%	0.00%
	-13.92	-6.92	-15.31	-17.08	63.18	202.72	1.81	1.14	3.73	-34.95	-1.42	7.24	1.21
EPS in Rs	-1.16	-0.58	-1.28	-1.42	5.27	16.90	0.13	0.08	0.26	-2.48	-0.10	0.51	0.09
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	261	234	185	232	284	226	176	37	138	75	206	87	63
	251	224	172	212	253	196	203	90	160	59	122	99	104
Operating Profit	10	10	13	20	31	30	-26	-53	-22	16	85	-12	-40
OPM %	4.0%	4.5%	7%	9%	11%	13%	-15%	-141%	-16%	22%	41%	-14%	-64%
	5	3	11	4	8	7	25	13	5	-85	229	11	28
Interest	19	26	33	34	36	33	32	30	29	38	24	25	14
Depreciation	1	1	2	6	6	5	4	4	3	3	3	3	1
Profit before tax	-6	-13	-11	-15	-3	-2	-38	-73	-49	-109	287	-28	-28
Tax %	36%	-16%	-7%	-22%	45%	-170%	-10%	-24%	-14%	7%	19%	0%
	-8	-11	-10	-12	-5	1	-34	-56	-42	-117	234	-28	-28
EPS in Rs	-0.66	-0.94	-0.82	-0.99	-0.40	0.10	-2.86	-4.63	-3.49	-9.78	19.46	-2.01	-1.98
Dividend Payout %	-8%	0%	0%	-5%	-13%	49%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-9%
5 Years:	-13%
3 Years:	-14%
TTM:	-20%

Compounded Profit Growth
10 Years:	%
5 Years:	8%
3 Years:	9%
TTM:	-116%

Stock Price CAGR
10 Years:	-15%
5 Years:	-17%
3 Years:	-3%
1 Year:	35%

Return on Equity
10 Years:	0%
5 Years:	6%
3 Years:	22%
Last Year:	-7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	12	12	12	12	12	12	12	12	12	12	12	14	14
Reserves	379	368	358	346	354	354	315	260	219	103	340	363	399
	142	299	379	457	665	652	641	633	603	266	188	85	80
	678	658	709	688	687	851	935	984	1,011	1,009	716	728	698
Total Liabilities	1,211	1,337	1,458	1,503	1,717	1,869	1,903	1,889	1,845	1,390	1,255	1,190	1,191
	29	28	71	96	100	82	70	67	59	48	46	52	19
CWIP	23	44	28	10	11	11	12	12	12	12	12	5	5
Investments	12	13	13	3	7	7	7	7	6	6	6	2	4
	1,147	1,252	1,345	1,394	1,599	1,770	1,814	1,804	1,768	1,324	1,190	1,130	1,163
Total Assets	1,211	1,337	1,458	1,503	1,717	1,869	1,903	1,889	1,845	1,390	1,255	1,190	1,191

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	30	-109	-46	-56	-166	-3	116	258	17	421	-112	43
	-7	-20	-18	-2	4	21	7	16	16	9	207	12
	-22	131	46	50	165	-26	-115	-265	-43	-357	-138	-77
Net Cash Flow	1	1	-18	-8	4	-8	9	9	-10	73	-43	-22
Free Cash Flow	21	-131	-75	-62	-167	6	118	259	18	421	-105	42
CFO/OP	270%	-965%	-337%	-260%	-558%	14%	-455%	-490%	-87%	2,620%	-105%	-352%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	160	212	391	290	280	532	792	3,254	855	608	439	1,142
Inventory Days									4,824		6,783
Days Payable									421		846
Cash Conversion Cycle	160	212	391	290	280	532	792	3,254	5,258	608	6,377	1,142
Working Capital Days	430	643	860	627	730	958	1,002	1,375	213	141	292	855
ROCE %	3%	2%	3%	2%	4%	3%	-2%	-5%	-2%	4%	66%	-0%

Insights

In beta

Mar 2016

Mar 2017

Jun 2018

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Total permanent employees
count ・Standalone data

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	x.xx	x.xx
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Aarohan project area sold (Phase 1)
mn sq ft ・Standalone data

Aarohan project flats allotted
count ・Standalone data

Cumulative area delivered
mn sq ft ・Standalone data

Cumulative area sold in Gurugram
mn sq ft ・Standalone data

Land bank (potential)
acres ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

17 Recently

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	63.43%	63.43%	60.52%	51.51%	31.04%	20.33%	18.25%	18.25%	18.25%	18.25%	18.25%	18.25%
	0.00%	0.00%	0.19%	1.87%	7.23%	6.13%	7.25%	9.65%	8.81%	11.27%	13.20%	10.42%
	0.00%	0.00%	0.00%	2.65%	0.52%	2.65%	0.63%	0.63%	0.44%	1.48%	1.66%	2.65%
	36.57%	36.58%	39.29%	43.96%	61.21%	70.89%	73.88%	71.49%	72.49%	68.99%	66.89%	68.69%
No. of Shareholders	7,239	7,743	8,976	9,324	21,072	27,918	30,815	30,928	30,763	29,970	28,236	27,971

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	63.38%	63.38%	63.43%	63.43%	63.43%	63.43%	63.43%	60.52%	18.25%	18.25%	18.25%
	0.17%	0.00%	0.00%	2.21%	1.68%	0.00%	0.00%	0.19%	7.25%	13.20%	10.42%
	0.00%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.63%	1.66%	2.65%
	36.45%	36.61%	36.57%	34.36%	34.89%	36.57%	36.56%	39.29%	73.88%	66.89%	68.69%
No. of Shareholders	3,606	3,954	3,880	3,951	4,215	6,655	6,928	8,976	30,815	28,236	27,971

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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