Visaman Global Sales Ltd
Incorporated in 2019, Visaman Global
Sales Ltd manufactures & trades steel
pipes, structural steel, coils, sheets,
plates, etc.[1]
- Market Cap ₹ 133 Cr.
- Current Price ₹ 96.0
- High / Low ₹ 97.5 / 34.0
- Stock P/E 62.0
- Book Value ₹ 20.4
- Dividend Yield 0.00 %
- ROCE 9.83 %
- ROE 10.8 %
- Face Value ₹ 10.0
Pros
- Company's working capital requirements have reduced from 14.1 days to 10.9 days
Cons
- Stock is trading at 4.71 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Tax rate seems low
- Company has a low return on equity of 12.0% over last 3 years.
- Debtor days have increased from 39.6 to 57.1 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
Industrials Capital Goods Industrial Products Iron & Steel Products
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 48 | 136 | 324 | 408 | 308 | 266 | |
| 48 | 135 | 321 | 401 | 300 | 259 | |
| Operating Profit | 0 | 2 | 3 | 7 | 8 | 7 |
| OPM % | 1% | 1% | 1% | 2% | 2% | 3% |
| 0 | -0 | 0 | 0 | 0 | 1 | |
| Interest | 0 | 1 | 1 | 5 | 6 | 5 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 0 | 0 | 1 | 2 | 2 | 2 |
| Tax % | 23% | 32% | 26% | 25% | 24% | 14% |
| 0 | 0 | 1 | 1 | 1 | 2 | |
| EPS in Rs | 1.06 | 0.69 | 1.98 | 1.77 | 1.30 | 1.55 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 41% |
| 3 Years: | -6% |
| TTM: | -14% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 66% |
| 3 Years: | 31% |
| TTM: | 63% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 132% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 12% |
| 3 Years: | 12% |
| Last Year: | 11% |
Balance Sheet
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 2 | 5 | 5 | 7 | 10 | 14 |
| Reserves | 0 | 1 | 2 | 3 | 1 | 14 |
| 6 | 7 | 14 | 43 | 52 | 65 | |
| 5 | 15 | 19 | 6 | 8 | 6 | |
| Total Liabilities | 13 | 27 | 40 | 59 | 72 | 99 |
| 0 | 0 | 1 | 1 | 2 | 2 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 7 |
| Investments | 0 | 0 | 0 | 1 | 0 | 0 |
| 13 | 27 | 38 | 57 | 70 | 91 | |
| Total Assets | 13 | 27 | 40 | 59 | 72 | 99 |
Cash Flows
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| -8 | -2 | -5 | -1 | 6 | 15 | |
| -0 | -0 | -1 | -1 | 0 | -7 | |
| 6 | 3 | 5 | 2 | -3 | 1 | |
| Net Cash Flow | -1 | 1 | -0 | -0 | 3 | 9 |
Ratios
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 53 | 37 | 29 | 27 | 35 | 57 |
| Inventory Days | 26 | 15 | 11 | 19 | 40 | 30 |
| Days Payable | 37 | 37 | 21 | 3 | 5 | 6 |
| Cash Conversion Cycle | 42 | 15 | 19 | 43 | 70 | 81 |
| Working Capital Days | 14 | 13 | 8 | 13 | 19 | 11 |
| ROCE % | 14% | 16% | 17% | 12% | 10% |
Documents
Announcements
-
Copy of Newspaper Publication
4 September 2025 - 6th AGM on September 26, 2025 at 11:00 IST at Rajkot registered office.
-
Updates
2 September 2025 - Book closure 20–26 Sept 2025 for 6th AGM on 26 Sept; voting cut-off date 19 Sept 2025.
-
Updates
2 September 2025 - AGM on Sep 26, 2025; annual report filed; MD reappointment; RPT limits Rs200Cr, Rs150Cr, Rs100Cr; MD pay up to Rs60L p.a.
-
Shareholders meeting
2 September 2025 - AGM 26 Sep 2025: MD reappointment (30/12/2025–29/12/2030; Rs60L p.a.) and related-party transactions up to Rs450 crore
-
Shareholders meeting
14 August 2025 - EGM approved increase in share capital, preferential equity shares and warrants issuance on August 14, 2025.
Business Overview:[1][2]
a) VGSL supplies various specification of structural steels, BGL coils, GP(GI) coils, HR coils, CR coils, colour coated coils, MS sheets, GP and GC sheets, CR sheets, HR sheets and plates, colour coated sheets, roofing PUF panel, wall PUF panel, round pipes, square pipes, rectangle pipes, etc.
b) It provides credit facility to its existing customers as value added service.
c) Company provides customization to meet the specific requirement of its customers w.r.t specific size, length, breadth, thickness etc. of its products. It sends the requisition to manufacturer for customization of specified products. Further, in certain cases, if the manufacturer is unable to do the specified customization, then, the same will be get done by the third-party process houses
d) Company outsources the process of modification and alteration to third parties
e) It sells its products through a diversified sales & distribution mix viz. B2C, B2CH, and B2B
f) Company provides comprehensive 3rd- party logistics services, end-to-end customized logistics solutions to its clients