Vadivarhe Speciality Chemicals Ltd
₹ 23.0
3.60%
02 Apr
3:31 p.m.
About
Incorporated in 2009, Vadivarhe Speciality Chemicals Ltd is engaged in the manufacturing of Speciality
Chemicals, Intermediates & API.[1]
Key Points
- Market Cap ₹ 29.4 Cr.
- Current Price ₹ 23.0
- High / Low ₹ 35.2 / 16.0
- Stock P/E
- Book Value ₹ -5.19
- Dividend Yield 0.00 %
- ROCE -22.7 %
- ROE -495 %
- Face Value ₹ 10.0
Pros
Cons
- Company has low interest coverage ratio.
- Company has a low return on equity of -58.8% over last 3 years.
- Debtor days have increased from 57.6 to 79.5 days.
- Promoter holding has decreased over last 3 years: -7.81%
* 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
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Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 13.87 | 19.03 | 26.28 | 35.03 | 25.56 | 32.36 | 28.58 | 26.47 | 21.45 | 43.68 | 40.08 | 37.91 | 40.48 | |
| 11.18 | 11.52 | 18.89 | 24.64 | 21.80 | 29.97 | 37.82 | 27.01 | 28.24 | 40.22 | 35.48 | 43.80 | 47.42 | |
| Operating Profit | 2.69 | 7.51 | 7.39 | 10.39 | 3.76 | 2.39 | -9.24 | -0.54 | -6.79 | 3.46 | 4.60 | -5.89 | -6.94 |
| OPM % | 19.39% | 39.46% | 28.12% | 29.66% | 14.71% | 7.39% | -32.33% | -2.04% | -31.66% | 7.92% | 11.48% | -15.54% | -17.14% |
| 0.11 | 0.11 | 0.14 | 1.05 | 0.45 | 0.40 | 0.37 | 1.08 | 0.66 | 1.09 | 0.47 | 0.19 | 0.50 | |
| Interest | 1.02 | 0.89 | 1.21 | 0.85 | 0.77 | 1.11 | 1.37 | 1.32 | 1.69 | 1.61 | 1.83 | 1.72 | 1.48 |
| Depreciation | 1.65 | 1.09 | 1.36 | 1.14 | 1.27 | 1.63 | 1.75 | 1.81 | 1.79 | 1.79 | 1.74 | 1.85 | 1.90 |
| Profit before tax | 0.13 | 5.64 | 4.96 | 9.45 | 2.17 | 0.05 | -11.99 | -2.59 | -9.61 | 1.15 | 1.50 | -9.27 | -9.82 |
| Tax % | 46.15% | 29.61% | 13.51% | 36.51% | 18.43% | -20.00% | -17.93% | 6.56% | 0.00% | 0.00% | 96.67% | 0.00% | |
| 0.07 | 3.98 | 4.29 | 6.01 | 1.77 | 0.06 | -9.84 | -2.76 | -9.61 | 1.15 | 0.06 | -9.27 | -9.81 | |
| EPS in Rs | 1.45 | 82.27 | 88.67 | 4.97 | 1.38 | 0.05 | -7.70 | -2.16 | -7.52 | 0.90 | 0.05 | -7.25 | -7.67 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 7% |
| 5 Years: | 6% |
| 3 Years: | 21% |
| TTM: | 0% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 2% |
| 3 Years: | 2% |
| TTM: | -2049% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 13% |
| 3 Years: | -6% |
| 1 Year: | -16% |
| Return on Equity | |
|---|---|
| 10 Years: | -13% |
| 5 Years: | -54% |
| 3 Years: | -59% |
| Last Year: | -495% |
Balance Sheet
Figures in Rs. Crores
| 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 | 4.84 | 4.84 | 4.84 | 12.09 | 12.78 | 12.78 | 12.78 | 12.78 | 12.78 | 12.78 | 12.78 | 12.78 | 12.78 |
| Reserves | 5.73 | 9.68 | 12.62 | 11.38 | 14.64 | 14.70 | 4.87 | 2.11 | -7.50 | -6.36 | -6.29 | -15.56 | -19.41 |
| 14.35 | 11.24 | 10.65 | 12.74 | 9.66 | 20.98 | 19.67 | 23.45 | 24.42 | 26.94 | 26.18 | 36.03 | 31.37 | |
| 7.75 | 3.67 | 5.09 | 9.52 | 7.13 | 9.28 | 14.00 | 8.84 | 11.97 | 13.08 | 8.94 | 9.48 | 14.01 | |
| Total Liabilities | 32.67 | 29.43 | 33.20 | 45.73 | 44.21 | 57.74 | 51.32 | 47.18 | 41.67 | 46.44 | 41.61 | 42.73 | 38.75 |
| 15.93 | 15.02 | 13.96 | 17.12 | 19.68 | 26.09 | 25.20 | 25.98 | 24.32 | 23.36 | 21.59 | 22.43 | 21.55 | |
| CWIP | 0.00 | 0.00 | 0.00 | 0.09 | 1.58 | 1.88 | 2.81 | 0.33 | 1.09 | 0.99 | 1.56 | 0.08 | 0.11 |
| Investments | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 |
| 16.69 | 14.36 | 19.19 | 28.47 | 22.90 | 29.72 | 23.26 | 20.82 | 16.21 | 22.04 | 18.41 | 20.17 | 17.04 | |
| Total Assets | 32.67 | 29.43 | 33.20 | 45.73 | 44.21 | 57.74 | 51.32 | 47.18 | 41.67 | 46.44 | 41.61 | 42.73 | 38.75 |
Cash Flows
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 6.41 | 5.27 | 3.18 | 2.09 | 7.15 | -1.22 | 4.10 | -0.28 | 1.24 | -0.35 | 2.26 | -7.15 | |
| 0.00 | -0.18 | -0.64 | -4.33 | -5.32 | -8.27 | -1.68 | 0.02 | -0.82 | -0.69 | -0.51 | -1.32 | |
| -6.19 | -4.01 | -3.43 | 1.88 | -1.12 | 9.25 | -2.34 | 0.58 | -0.60 | 1.05 | -2.04 | 8.53 | |
| Net Cash Flow | 0.22 | 1.07 | -0.89 | -0.37 | 0.70 | -0.23 | 0.08 | 0.32 | -0.18 | 0.00 | -0.29 | 0.05 |
| Free Cash Flow | 6.40 | 5.07 | 2.49 | -1.59 | 1.81 | -9.63 | 2.31 | -0.39 | 0.35 | -1.11 | 1.72 | -8.50 |
| CFO/OP | 238% | 70% | 44% | 35% | 208% | -48% | -44% | 20% | -18% | -10% | 81% | 121% |
Ratios
Figures in Rs. Crores
| 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 | 135.00 | 70.97 | 117.50 | 159.63 | 122.95 | 143.25 | 104.34 | 125.62 | 34.37 | 48.22 | 44.99 | 79.53 |
| Inventory Days | 223.98 | 221.86 | 116.68 | 61.66 | 170.63 | 221.62 | 122.32 | 77.40 | 168.42 | 120.82 | 147.37 | 128.08 |
| Days Payable | 128.58 | 50.10 | 108.01 | 115.85 | 120.38 | 174.61 | 205.42 | 152.95 | 218.56 | 145.63 | 122.81 | 98.83 |
| Cash Conversion Cycle | 230.40 | 242.73 | 126.18 | 105.44 | 173.20 | 190.26 | 21.24 | 50.07 | -15.76 | 23.40 | 69.55 | 108.78 |
| Working Capital Days | -31.58 | 16.30 | 43.06 | 63.14 | 85.54 | 90.35 | -30.65 | 11.45 | -106.86 | -33.09 | 15.39 | -27.83 |
| ROCE % | 4.41% | 25.77% | 22.61% | 29.66% | 7.86% | 2.88% | -25.06% | -5.34% | -24.02% | 7.61% | 10.15% | -22.66% |
Insights
In beta| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Installed Capacity MTPA |
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| Order Book (Speciality Chemicals) Rs Crore |
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Requires Premium
Requires Premium
Documents
Announcements
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Trading Window
20 March 2026 - VSCL: Trading window closed April 1, 2026 until 48 hours after audited results for year/half ended March 31, 2026.
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Copy of Newspaper Publication
15 March 2026 - Newspaper ads on 15 Mar 2026 confirm dispatch of postal ballot notice; available on company's website.
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Shareholders meeting
13 March 2026 - Preferential issue 22,50,000 shares at ₹20 (₹4.5 crore) to promoter; conversion of loan; e-voting Mar14–Apr12,2026.
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Outcome of Board Meeting
13 March 2026 - Board approved 22,50,000 shares at ₹20 each (₹4.5 crore) to promoter; postal ballot planned.
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Preferential issue
13 March 2026 - Preferential allotment of 22,50,000 shares at ₹20 (₹4.50 crore) to promoter; postal ballot planned.
Business Overview:[1][2]
VSCL is a globally active Indian chemical producer, focused on organic chemicals and custom synthesis. The company is primarily engaged in the manufacturing, marketing & supply of:
a) Speciality chemicals
b) Active Pharmaceutical Ingredients (APIs)
c) Bio Chemicals
d) Organic Chemicals
e) Inorganic Chemicals
f) Drug Intermediates
g) Personal care ingredients
h) Bulk Drugs