Vipul Ltd

₹ 9.81 -4.66%

16 Jul 4:01 p.m.

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 ₹ 137 Cr.
Current Price ₹ 9.81
High / Low ₹ 49.0 / 9.76
Stock P/E
Book Value ₹ 26.8
Dividend Yield 0.00 %
ROCE -0.69 %
ROE -7.40 %
Face Value ₹ 1.00

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Pros

Company has reduced debt.
Stock is trading at 0.37 times its book value
Company is expected to give good quarter

Cons

Company has low interest coverage ratio.
Promoter holding has decreased over last quarter: -2.08%
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.481 Cr.
Promoters have pledged or encumbered 30.7% of their holding.
Company has high debtors of 1,142 days.
Company's cost of borrowing seems high

* 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

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	27	14	47	6	8	6	7	157	36	16	16	11	44
	38	19	10	11	13	12	11	78	20	12	11	9	68
Operating Profit	-11	-5	37	-5	-5	-6	-3	79	15	3	5	2	-23
OPM %	-41%	-40%	79%	-79%	-57%	-103%	-43%	50%	43%	21%	30%	20%	-53%
	5	-92	2	2	4	2	2	14	211	3	3	3	2
Interest	7	11	11	11	6	11	7	10	-3	4	6	1	13
Depreciation	1	1	1	1	1	1	1	1	1	1	1	1	1
Profit before tax	-14	-109	28	-14	-8	-15	-8	81	229	2	1	4	-35
Tax %	0%	0%	32%	-0%	-12%	0%	109%	22%	12%	0%	0%	0%	0%
	-14	-109	19	-14	-7	-15	-17	63	203	2	1	4	-35
EPS in Rs	-1.17	-9.10	1.56	-1.16	-0.58	-1.28	-1.42	5.27	16.90	0.13	0.08	0.26	-2.48
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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
	261	234	185	232	284	226	176	37	138	75	206	87
	251	224	172	212	253	196	203	90	160	59	122	100
Operating Profit	10	10	13	20	31	30	-26	-53	-22	16	85	-13
OPM %	4%	4%	7%	9%	11%	13%	-15%	-141%	-16%	22%	41%	-15%
	5	3	11	4	8	7	25	13	5	-85	229	11
Interest	19	26	33	34	36	33	32	30	29	38	24	24
Depreciation	1	1	2	6	6	5	4	4	3	3	3	3
Profit before tax	-6	-13	-11	-15	-3	-2	-38	-73	-49	-109	287	-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
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
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:	-58%

Compounded Profit Growth
10 Years:	%
5 Years:	8%
3 Years:	9%
TTM:	-112%

Stock Price CAGR
10 Years:	-14%
5 Years:	-7%
3 Years:	-16%
1 Year:	-79%

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
Equity Capital	12	12	12	12	12	12	12	12	12	12	12	14
Reserves	379	368	358	346	354	354	315	260	219	103	340	363
	142	299	379	457	665	652	641	633	603	266	188	85
	678	658	709	688	687	851	935	984	1,011	1,009	716	728
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
	29	28	71	96	100	82	70	67	59	48	46	52
CWIP	23	44	28	10	11	11	12	12	12	12	12	5
Investments	12	13	13	3	7	7	7	7	6	6	6	2
	1,147	1,252	1,345	1,394	1,599	1,770	1,814	1,804	1,768	1,324	1,190	1,130
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

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

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	1,996
Days Payable									421		846	211
Cash Conversion Cycle	160	212	391	290	280	532	792	3,254	5,258	608	6,377	2,926
Working Capital Days	535	808	1,045	811	883	1,159	1,266	6,590	1,528	1,093	610	1,211
ROCE %	3%	2%	3%	2%	4%	3%	-2%	-5%	-2%	4%	66%	-1%

Shareholding Pattern

Numbers in percentages

7 Recently

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	63.43%	63.43%	63.43%	63.43%	63.43%	63.43%	63.43%	60.52%	51.51%	31.04%	20.33%	18.25%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.19%	1.87%	7.23%	6.13%	7.25%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.65%	0.52%	2.65%	0.63%
	36.57%	36.56%	36.57%	36.56%	36.57%	36.57%	36.58%	39.29%	43.96%	61.21%	70.89%	73.88%
No. of Shareholders	6,463	7,323	7,203	6,928	6,792	7,239	7,743	8,976	9,324	21,072	27,918	30,815

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

* 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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