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Victoria Mills Overview

1. Business Overview

Victoria Mills Ltd., operating in the Construction - Real Estate sector in India, is likely involved in the development of real estate projects. This typically includes land acquisition, planning, designing, constructing, and marketing properties. The core business model would involve developing residential, commercial, or mixed-use properties and generating revenue primarily through the sale of developed units (apartments, offices, retail spaces) or, to a lesser extent, through rental income from leased properties.

2. Key Segments / Revenue Mix

Without specific data for Victoria Mills Ltd., detailed segmentation is not available. However, for a company in this sector, common segments include:

Residential Development: Sales of apartments, villas, and plotted developments.

Commercial Development: Sales or leasing of office spaces, IT parks.

Retail/Hospitality: Development and management of shopping malls or hotels.

Given the company name's historical context (mills), it's possible they might have transitioned from industrial land use to real estate development, potentially focusing on redevelopment projects or mixed-use developments on former industrial land.

3. Industry & Positioning

The Indian real estate industry is large, diverse, and highly fragmented, with numerous local, regional, and national players. It is also cyclical and heavily influenced by economic conditions, interest rates, and government policies. Victoria Mills Ltd.'s positioning would depend on its geographical focus (e.g., specific cities or regions in India), target customer segments (affordable, mid-income, luxury), and project portfolio. Without specific project details, it's difficult to ascertain its exact standing, but it is likely a regional or niche player rather than a national giant, given its ticker and less prominent public profile compared to large listed developers.

4. Competitive Advantage (Moat)

Determining specific competitive advantages for Victoria Mills Ltd. without detailed company information is challenging. Potential moats in the real estate sector, which the company might possess to varying degrees, include:

Strategic Land Bank: Access to prime land parcels at competitive costs, particularly if they own legacy land (e.g., former mill lands).

Execution Capabilities: Strong project management, timely delivery, and quality construction.

Local Market Expertise: Deep understanding of specific micro-markets, regulatory environments, and customer preferences.

Brand Reputation: A track record of successful projects and customer trust (though this needs validation).

Financial Strength: Ability to fund large projects and navigate market cycles.

5. Growth Drivers

Key factors that could drive growth for Victoria Mills Ltd. over the next 3-5 years, assuming it aligns with broader industry trends:

Urbanization & Demographic Tailwinds: Continued migration to cities and a growing young population driving demand for housing and commercial spaces.

Government Initiatives: Policy support for affordable housing, infrastructure development, and ease of doing business (e.g., RERA streamlining).

Rising Disposable Incomes: Growth in income levels leading to increased purchasing power for real estate.

Favorable Interest Rate Environment: Lower home loan interest rates stimulating demand from end-users.

Redevelopment Opportunities: Potential for converting existing industrial or older properties into modern residential/commercial spaces, especially in established urban areas.

6. Risks

Victoria Mills Ltd., like other real estate companies in India, faces several risks:

Cyclicality & Economic Slowdown: Real estate is highly sensitive to economic cycles, interest rate changes, and overall consumer sentiment.

Regulatory & Environmental Risks: Changes in government policies (e.g., RERA, zoning laws, environmental clearances), delays in approvals, and compliance costs.

Funding Challenges: High debt levels, reliance on external financing, and sensitivity to interest rate fluctuations.

Land Acquisition & Clearances: Difficulties in acquiring suitable land, obtaining necessary permits, and potential legal disputes.

Competition: Intense competition from numerous developers, impacting pricing power and project margins.

Project Delays & Cost Overruns: Challenges in project execution, labor availability, and raw material price volatility.

7. Management & Ownership

Without specific information on promoters and management quality for Victoria Mills Ltd., a detailed description is not possible. Typically, in Indian companies, promoter holding can be significant, influencing corporate strategy and decision-making. The quality of management (experience, integrity, governance standards) is crucial for navigating the complex real estate sector. Ownership structure would typically include promoter holdings, institutional investors, and public shareholders.

8. Outlook

Victoria Mills Ltd. operates in a dynamic Indian real estate sector, characterized by long-term growth potential driven by urbanization and demographic factors, coupled with government support for infrastructure and housing. The company could benefit from these tailwinds, especially if it has a strong land bank, efficient project execution capabilities, and a good understanding of its target markets.

However, the sector is also prone to significant risks, including economic cyclicality, high capital intensity, regulatory hurdles, and intense competition. The company's performance will heavily depend on its ability to manage these risks, secure timely project approvals, maintain a healthy balance sheet, and adapt to evolving market demands. Success will hinge on prudent financial management, strategic land acquisition, and consistent project delivery in a competitive and often volatile environment.

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Victoria Mills Key Financials

Market Cap ₹58 Cr.

Stock P/E 104.9

P/B 0.8

Current Price ₹5900

Book Value ₹ 7600.1

Face Value 100

52W High ₹7280

Dividend Yield 0.85%

52W Low ₹ 4501

Victoria Mills Share Price

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Volume
Price

Victoria Mills Quarterly Price

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Victoria Mills Peer Comparison

Victoria Mills Quarterly Results

#(Fig in Cr.) Dec 2017 Mar 2018 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 0 9 0 14 0 16 0 16 18 19
Other Income 0 0 0 0 -0 0 0 0 0 1
Total Income 0 9 0 15 -0 16 0 17 18 20
Total Expenditure 0 8 1 13 1 15 1 14 15 16
Operating Profit -0 2 -1 1 -1 1 -0 2 3 3
Interest 0 0 0 0 0 0 0 0 0 0
Depreciation 0 0 0 0 0 0 0 0 0 0
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax -0 2 -1 1 -1 1 -0 2 3 3
Provision for Tax 0 0 0 0 -0 0 -0 1 1 1
Profit After Tax -0 1 -1 1 -1 1 -0 2 3 3
Adjustments 0 -1 0 -0 -0 -0 0 0 0 0
Profit After Adjustments 0 0 -1 1 -1 1 -0 2 3 3
Adjusted Earnings Per Share -5.8 134.1 -138.3 111.8 -102.3 85.4 -38.3 179.8 262.2 267.3

Victoria Mills Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 0 0 5 9 19 0 18 0 24 17 30 53
Other Income 2 19 1 1 1 1 2 1 2 2 1 1
Total Income 2 19 6 10 20 1 20 1 26 19 30 55
Total Expenditure 1 3 5 9 17 2 17 2 23 17 29 46
Operating Profit 1 16 1 1 3 -1 3 -2 3 1 1 8
Interest 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 1 16 1 1 3 -1 3 -2 3 1 1 8
Provision for Tax 0 4 0 0 1 0 0 0 1 0 0 3
Profit After Tax 1 12 1 1 3 -1 3 -2 2 1 1 8
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 1 12 1 1 3 -1 3 -2 2 1 1 8
Adjusted Earnings Per Share 58.1 1243 71.7 108.7 262.5 -73.3 258.2 -173.2 237.4 73.9 56.2 671

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 76% 0% 0% 0%
Operating Profit CAGR 0% 0% 0% 0%
PAT CAGR 0% 0% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -16% 38% 27% 7%
ROE Average 1% 2% 2% 6%
ROCE Average 2% 3% 3% 8%

Victoria Mills Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 20 32 36 37 39 34 44 45 54 63 66
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 2 5 6 1 1 1 1 2 3 4 4
Total Current Liabilities 2 1 1 2 1 1 2 6 10 15 2
Total Liabilities 24 38 43 40 42 37 47 53 67 82 72
Fixed Assets 0 0 0 0 1 1 1 1 1 1 1
Other Non-Current Assets 5 20 17 16 25 12 27 9 18 6 2
Total Current Assets 19 18 26 24 16 24 19 43 48 76 69
Total Assets 24 38 43 40 42 37 47 53 67 82 72

Victoria Mills Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 1 0 0 0 0 2 1 1 1 1 1
Cash Flow from Operating Activities -6 -6 -4 5 13 -12 14 -18 2 -17 -10
Cash Flow from Investing Activities 6 6 4 -4 -12 12 -13 18 -1 17 11
Cash Flow from Financing Activities -1 -1 0 -1 -1 -1 -0 -0 -0 -0 -0
Net Cash Inflow / Outflow -0 0 -0 0 1 -1 1 -1 0 -1 -0
Closing Cash & Cash Equivalent 0 0 0 0 2 1 1 1 1 1 1

Victoria Mills Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 58.11 1242.96 71.75 108.68 262.47 -73.34 258.2 -173.23 237.39 73.89 56.24
CEPS(Rs) 66.73 1245.54 73.33 111.04 266.94 -65.23 269.87 -161.47 250.83 87.34 68.53
DPS(Rs) 50 50 50 50 50 50 50 50 50 50 50
Book NAV/Share(Rs) 2021.78 3204.56 3631.95 3780.86 3977.07 3494.32 4481.29 4608.63 5454.96 6419.58 6666.88
Core EBITDA Margin(%) 0 0 -0.76 1.76 13.08 0 7.48 0 6.33 -1.32 1.85
EBIT Margin(%) 0 0 19.66 16.37 17.66 0 16.13 0 12.39 7.16 3.27
Pre Tax Margin(%) 0 0 19.66 16.37 17.66 0 16.13 0 12.39 7.16 3.27
PAT Margin (%) 0 0 13.47 12.24 13.62 0 14.25 0 9.57 4.28 1.85
Cash Profit Margin (%) 0 0 13.77 12.51 13.85 0 14.89 0 10.12 5.06 2.26
ROA(%) 2.44 39.51 1.74 2.59 6.35 -1.84 6.05 -3.41 3.89 0.98 0.72
ROE(%) 2.87 47.57 2.1 2.93 6.77 -1.96 6.47 -3.81 4.72 1.24 0.86
ROCE(%) 3.7 61.54 3.06 3.92 8.77 -1.95 7.33 -3.8 6.1 2.08 1.52
Receivable days 0 0 0 0 0 0 0 0 0 0 0
Inventory Days 0 0 1071.25 633.94 0 0 0 0 337.96 739.2 525.88
Payable days 0 0 0 0 0 0 0 0 0 0 0
PER(x) 31.7 2.34 43.21 30.78 9.14 0 6.98 0 9.19 55.48 105.83
Price/Book(x) 0.91 0.91 0.85 0.88 0.6 0.38 0.4 0.47 0.4 0.64 0.89
Dividend Yield(%) 2.71 1.72 1.61 1.49 2.08 3.73 2.78 2.31 2.29 1.22 0.84
EV/Net Sales(x) 0 0 5.77 3.73 1.16 0 0.91 0 0.82 2.33 1.94
EV/Core EBITDA(x) 21.82 1.78 28.93 22.42 6.5 -19.29 5.45 -12.95 6.33 29.36 52.82
Net Sales Growth(%) -100 0 0 66.67 117.14 -100 0 -100 0 -30.44 76.18
EBIT Growth(%) -32.28 2048.7 -93.49 38.79 134.18 -121.38 501.54 -159.05 277.99 -59.77 -19.62
PAT Growth(%) -38.38 2039.16 -94.23 51.47 141.51 -127.94 452.08 -167.09 237.03 -68.87 -23.89
EPS Growth(%) -38.38 2039.16 -94.23 51.47 141.51 -127.94 452.08 -167.09 237.03 -68.87 -23.89
Debt/Equity(x) 0 0 0 0 0 0 0 0 0 0 0
Current Ratio(x) 10.83 13 18.35 14.26 10.86 17.7 12.49 7.27 4.63 5.17 35.44
Quick Ratio(x) 8.42 3.52 6.13 6.43 10.86 8.41 12.49 3.79 2.28 2.13 13.83
Interest Cover(x) 0 0 0 0 0 0 0 0 0 0 0
Total Debt/Mcap(x) 0 0 0 0 0 0 0 0 0 0 0

Victoria Mills Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 56.16 56.16 56.16 56.16 56.16 56.16 56.16 56.16 56.16 56.16
FII 0 0 0 0 0 0 0 0 0 0
DII 0.13 0.13 0.13 0.13 0.12 0.12 0.12 0.12 0.12 0.12
Public 43.72 43.72 43.72 43.72 43.72 43.72 43.72 43.72 43.72 43.72
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Victoria Mills News

Victoria Mills Pros & Cons

Pros

  • Stock is trading at 0.8 times its book value
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 2% over the last 3 years.
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