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Vipul Organics Overview

Vipul Organics Ltd is a prominent player in the Dyes & Pigments industry, renowned for its exceptional products and unwavering commitment to quality. With a legacy spanning several decades, the company has established itself as a trusted name in the global market. Vipul Organics specializes in the manufacturing and distribution of a wide range of dyes, pigments, and colorants that find applications across diverse industries, including textiles, plastics, inks, and coatings. Their extensive product portfolio is characterized by innovation, eco-...Read More

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Vipul Organics Key Financials

Market Cap ₹373 Cr.

Stock P/E 84.4

P/B 3.2

Current Price ₹196

Book Value ₹ 60.4

Face Value 10

52W High ₹249

Dividend Yield 0.41%

52W Low ₹ 116

Vipul Organics Share Price

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Volume
Price

Vipul Organics Quarterly Price

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Vipul Organics Peer Comparison

Vipul Organics Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 37 37 40 38 39 41 44 38 39 46
Other Income 0 0 1 0 0 0 -0 0 0 0
Total Income 37 38 41 38 39 42 44 38 40 46
Total Expenditure 34 34 37 35 36 38 40 34 35 42
Operating Profit 3 3 4 3 4 4 4 4 5 5
Interest 1 1 1 1 1 1 1 1 1 0
Depreciation 1 1 1 1 1 2 2 2 2 2
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 1 1 2 2 2 2 1 2 2 3
Provision for Tax 0 1 0 0 1 0 0 0 1 1
Profit After Tax 1 1 1 1 1 1 1 1 2 2
Adjustments 0 0 -0 0 0 0 -0 0 0 0
Profit After Adjustments 1 1 1 1 1 1 1 1 2 2
Adjusted Earnings Per Share 0.6 0.5 0.7 0.7 0.6 0.9 0.6 0.9 1 1

Vipul Organics 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 52 53 57 79 90 92 119 133 134 150 163 167
Other Income 0 0 1 1 0 1 1 1 0 1 1 0
Total Income 53 53 58 81 90 93 119 134 134 151 163 168
Total Expenditure 50 50 54 76 84 83 103 118 122 138 148 151
Operating Profit 2 3 4 5 7 10 17 17 12 13 15 18
Interest 1 1 1 1 1 1 1 2 3 2 3 3
Depreciation 1 1 1 1 1 2 6 5 6 6 6 8
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 1 1 2 3 5 7 10 10 3 5 6 8
Provision for Tax 0 0 1 1 1 2 3 3 1 1 2 2
Profit After Tax 1 1 2 2 4 5 7 7 2 3 4 6
Adjustments 0 -0 0 0 -0 -0 0 0 0 0 0 0
Profit After Adjustments 1 1 2 2 4 5 7 7 2 3 4 6
Adjusted Earnings Per Share 0.9 1.1 1.7 1.9 2.9 4 4.6 4.4 1.2 2.1 3.3 3.5

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 9% 7% 12% 12%
Operating Profit CAGR 15% -4% 8% 22%
PAT CAGR 33% -17% -4% 15%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 34% 30% 12% 23%
ROE Average 7% 6% 10% 10%
ROCE Average 9% 8% 11% 12%

Vipul Organics 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 13 13 19 25 28 32 40 52 53 58 64
Minority's Interest -0 -0 -0 -0 -0 -0 -0 -0 -0 -0 -0
Borrowings 1 0 0 2 7 7 9 6 6 2 9
Other Non-Current Liabilities 0 0 0 0 0 1 1 1 3 1 -1
Total Current Liabilities 23 20 26 44 38 56 56 67 62 74 82
Total Liabilities 37 33 46 70 73 96 107 127 124 136 154
Fixed Assets 6 6 6 6 6 32 29 36 35 32 38
Other Non-Current Assets 6 6 8 13 22 4 5 5 4 10 15
Total Current Assets 25 21 32 51 45 59 73 86 84 93 101
Total Assets 37 33 46 70 73 96 107 127 124 136 154

Vipul Organics 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 2 2 1 2 0 2 4 5 2 4 1
Cash Flow from Operating Activities 3 5 -4 -8 15 14 -2 2 10 5 1
Cash Flow from Investing Activities -2 -0 -2 -4 -11 -11 -2 -11 -3 -7 -15
Cash Flow from Financing Activities -1 -4 7 11 -2 -0 4 5 -5 -2 15
Net Cash Inflow / Outflow 0 -0 1 -2 1 3 1 -3 3 -4 0
Closing Cash & Cash Equivalent 2 2 2 0 2 4 5 2 4 1 1

Vipul Organics 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) 0.85 1.07 1.67 1.88 2.94 3.98 4.62 4.38 1.18 2.07 3.33
CEPS(Rs) 1.67 2.16 2.47 2.45 3.47 5.69 8.55 7.66 5.15 5.51 7.74
DPS(Rs) 0.52 0.52 0.52 0.52 0.52 0.52 0.58 0.58 0.73 0.81 0.8
Book NAV/Share(Rs) 14.83 15.3 18.36 21.12 23.44 25.47 25.95 32.85 33.29 35.51 47.97
Core EBITDA Margin(%) 4.38 5.38 5.56 4.6 7.02 9.8 13.55 11.62 8.65 7.73 8.81
EBIT Margin(%) 3.29 3.84 5.18 5.41 6.8 8.69 9.19 8.55 4.03 4.68 5.54
Pre Tax Margin(%) 2 2.6 4.12 4.27 5.59 7.69 8.05 7.31 2.04 3.08 3.89
PAT Margin (%) 1.33 1.74 2.79 2.82 3.92 5.19 5.77 5.23 1.4 2.23 2.72
Cash Profit Margin (%) 2.68 3.46 4.13 3.71 4.63 7.4 10.68 9.15 6.12 5.94 6.33
ROA(%) 1.97 2.66 4.11 3.85 4.91 5.66 6.76 5.96 1.49 2.58 3.06
ROE(%) 5.6 7.22 10.49 10.37 13.2 16.29 19.84 15.35 3.55 6.05 7.3
ROCE(%) 7.82 9.59 12.15 11.61 13.35 15.8 17.99 15.29 6.62 8.37 9.19
Receivable days 76.17 76.98 79.08 99.83 100.13 90.72 92.98 106.85 104.4 95.41 106.79
Inventory Days 42.98 38.16 40.24 38.24 35.9 50.2 53.36 66.98 90.2 83.69 78.27
Payable days 86.04 95.36 107.35 112.29 119.2 163.01 168.3 153.74 153.9 134.52 133.23
PER(x) 17 15.01 34.76 55.89 39.45 14.93 23.8 31.61 61.79 63.68 39.4
Price/Book(x) 0.98 1.05 3.16 4.97 4.94 2.33 4.24 4.22 2.19 3.71 2.74
Dividend Yield(%) 3.56 3.2 0.89 0.49 0.44 0.87 0.53 0.42 0.99 0.61 0.61
EV/Net Sales(x) 0.39 0.35 1.09 1.78 1.73 0.95 1.55 1.85 1.04 1.59 1.34
EV/Core EBITDA(x) 8.24 6.18 16.38 28.29 23.02 8.71 10.98 14.87 11.86 18.94 14.64
Net Sales Growth(%) 18.46 0.13 8.82 38.56 13.65 2.48 28.67 12.21 0.55 12.06 8.48
EBIT Growth(%) 24.12 17.24 47.62 42.63 42.46 31.04 36.17 4.29 -52.57 30.23 28.23
PAT Growth(%) 25.16 31.82 75.02 38.4 57.45 35.51 43.26 1.69 -73.14 78.44 32.48
EPS Growth(%) 21.3 25.84 55.46 12.61 56.58 35.46 16.05 -5.17 -73.03 74.89 61.2
Debt/Equity(x) 0.81 0.52 0.59 0.74 0.69 0.71 0.7 0.56 0.54 0.49 0.72
Current Ratio(x) 1.05 1.07 1.21 1.17 1.18 1.06 1.31 1.29 1.36 1.27 1.23
Quick Ratio(x) 0.8 0.81 0.92 0.96 0.95 0.76 0.99 0.83 0.78 0.81 0.79
Interest Cover(x) 2.55 3.08 4.91 4.76 5.62 8.68 8.05 6.94 2.02 2.92 3.36
Total Debt/Mcap(x) 0.83 0.49 0.19 0.15 0.14 0.3 0.17 0.13 0.25 0.13 0.2

Vipul Organics Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 66.76 67.02 67.02 67.39 67.76 67.76 68.64 68.64 68.64 63.94
FII 0.26 0.46 0.46 0.19 0.19 0.19 0.19 0.19 0.19 0.17
DII 0.99 0 0 0 0 0 0 0 0 0
Public 31.99 32.52 32.52 32.42 32.05 32.05 31.17 31.17 31.17 35.88
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Vipul Organics News

Vipul Organics Pros & Cons

Pros

  • Debtor days have improved from 134.52 to 133.23days.

Cons

  • Company has a low return on equity of 6% over the last 3 years.
  • Stock is trading at 3.2 times its book value.
  • The company has delivered a poor profit growth of -4% over past five years.
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