Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹135 Cr.
Stock P/E
-4.8
P/B
0.4
Current Price
₹9.6
Book Value
₹ 25.9
Face Value
1
52W High
₹18.7
52W Low
₹ 7.4
Dividend Yield
0%

Vipul Overview

Business

Vipul Ltd. is an Indian real estate development company. Its core business involves the acquisition, development, and sale/leasing of various types of properties. The company generates revenue primarily through the construction and sale of residential units (apartments, villas), commercial spaces (offices, retail), and potentially integrated townships or hospitality projects. The business model relies on identifying land parcels, securing necessary approvals, project conceptualization, construction, and marketing properties to end-users and investors.

Revenue Mix

Vipul Ltd. operates primarily within the real estate development sector. While specific, granular revenue mix percentages are not readily available without access to detailed financial reports, the company's projects generally span residential and commercial developments. It's common for real estate developers to have a mix, adapting to market demand, but without data, a precise breakdown cannot be provided.

Industry

The Indian construction and real estate industry is highly fragmented, cyclical, and competitive, with numerous national, regional, and local players. It is also significantly influenced by macroeconomic factors, government policies, and interest rates. Vipul Ltd. appears to be a regional or mid-tier player within this landscape, likely focusing on specific geographies within India (e.g., National Capital Region, Haryana, etc.) where it has established its presence and project pipeline. Its positioning would depend on its project quality, delivery track record, and pricing strategies relative to local competitors.

MOAT

For a company like Vipul Ltd., competitive advantages, if present, are likely to be localized. These could include:

Regional Expertise & Land Bank: A deep understanding of specific micro-markets and an established land bank in those areas.

Execution Capabilities: A track record of timely project delivery and quality construction, building local customer trust.

Local Regulatory Relationships: Experience in navigating complex local approval processes.

However, a strong, widely recognized brand moat or significant national scale advantage is not evident without further specific details.

Growth Drivers

Key factors that could drive Vipul Ltd.'s growth over the next 3-5 years include:

Urbanization & Population Growth: Continued migration to urban centers increases demand for housing and commercial spaces.

Rising Disposable Incomes: Growing middle-class incomes improve affordability for real estate.

Favorable Government Policies: Initiatives promoting affordable housing, smart cities, and infrastructure development.

Improved Infrastructure: Development of roads, metros, and other facilities enhances connectivity and property value in project locations.

Interest Rate Environment: A stable or declining interest rate regime can boost housing demand by making mortgages more affordable.

Risks

Vipul Ltd. faces several inherent risks:

Cyclicality of Real Estate: The industry is highly sensitive to economic downturns, impacting demand and property prices.

Interest Rate Fluctuations: Rising interest rates can deter potential buyers and increase financing costs for the company.

Regulatory & Environmental Risks: Delays in obtaining approvals, changes in land use policies, or stricter environmental norms can impact project timelines and costs.

Funding & Liquidity Risks: Reliance on debt financing makes the company vulnerable to credit market conditions and high interest costs.

Competition: Intense competition can lead to pricing pressures and margin erosion.

Project Execution Risks: Delays in construction, cost overruns, or quality issues can damage reputation and financial performance.

Management & Ownership

Vipul Ltd. is likely a promoter-led company, common in the Indian business landscape. The promoters (founding family or individuals) typically hold a significant stake and are actively involved in the strategic direction and operations of the company. Specific details on the current management team's individual track records, corporate governance practices, and detailed ownership structure (beyond promoter holding percentage) are not provided in the input.

Outlook

The outlook for Vipul Ltd. is influenced by the broader trends in the Indian real estate market. On the positive side, factors like ongoing urbanization, India's economic growth trajectory, government push for infrastructure, and a potentially stable interest rate environment could provide tailwinds for property demand and sales. The company's regional expertise and track record in its operating areas could enable it to capitalize on these opportunities. However, the cyclical nature of real estate, intense competition, potential regulatory hurdles, and rising input costs present significant challenges. The ability to manage debt, secure timely project approvals, and adapt to evolving market demands will be crucial for its sustained performance. Its growth will likely be tied to its capacity to acquire new land banks strategically and execute projects efficiently within its chosen micro-markets.

Vipul Share Price

Live · BSE / NSE · Inception: 2002
₹ | |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

Vipul Quarterly Results

#(Fig in Cr.) Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
Net Sales 36 16 16 11 44 2 8 9 41 8
Other Income 214 3 3 3 4 12 3 3 10 20
Total Income 250 19 19 14 48 14 11 12 51 28
Total Expenditure 20 12 11 9 68 14 11 11 59 27
Operating Profit 229 6 8 5 -20 -0 1 2 -8 1
Interest -3 4 6 1 13 1 0 0 6 2
Depreciation 1 1 1 1 1 0 0 0 0 0
Exceptional Income / Expenses -3 0 0 0 -1 0 7 0 0 0
Profit Before Tax 229 2 1 4 -35 -1 8 1 -15 -1
Provision for Tax 27 0 0 0 0 0 0 0 1 0
Profit After Tax 203 2 1 4 -35 -1 8 1 -16 -1
Adjustments 0 0 0 0 0 -0 -0 0 0 0
Profit After Adjustments 203 2 1 4 -35 -1 7 1 -15 -1
Adjusted Earnings Per Share 16.9 0.1 0.1 0.3 -2.5 -0.1 0.5 0.1 -1.1 -0.1

Vipul 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 234 185 232 284 226 176 37 138 75 206 87 66
Other Income 3 11 6 8 7 25 11 10 10 232 12 36
Total Income 237 196 238 291 233 201 48 148 85 438 99 102
Total Expenditure 224 172 213 253 197 203 90 164 59 122 99 108
Operating Profit 14 25 25 38 36 -2 -41 -16 26 317 0 -4
Interest 26 33 33 36 33 32 30 29 38 24 25 8
Depreciation 1 2 6 6 5 4 4 3 3 3 3 0
Exceptional Income / Expenses 0 0 0 0 0 0 1 -0 -95 -3 -1 7
Profit Before Tax -13 -11 -15 -3 -2 -38 -73 -49 -109 287 -28 -7
Provision for Tax -2 -1 -3 1 -3 -4 -18 -7 8 54 0 1
Profit After Tax -11 -10 -12 -5 1 -34 -56 -42 -117 234 -28 -8
Adjustments 0 0 0 0 0 -0 0 0 0 0 0 0
Profit After Adjustments -11 -10 -12 -5 1 -35 -55 -41 -117 234 -28 -8
Adjusted Earnings Per Share -0.9 -0.8 -1 -0.4 0.1 -2.9 -4.6 -3.4 -9.8 19.5 -2 -0.6

Vipul 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 380 370 358 366 366 327 272 231 115 352 377
Minority's Interest 3 3 3 3 3 3 3 3 3 0 0
Borrowings 147 193 282 418 420 334 102 105 71 8 0
Other Non-Current Liabilities 152 151 28 51 46 21 -4 -40 -43 7 2
Total Current Liabilities 648 732 816 857 1007 1187 1468 1491 1189 888 809
Total Liabilities 1331 1450 1487 1695 1842 1872 1841 1790 1335 1254 1188
Fixed Assets 28 71 88 92 77 66 62 59 48 46 52
Other Non-Current Assets 201 177 166 162 160 117 110 114 48 106 83
Total Current Assets 1101 1202 1232 1441 1606 1690 1668 1617 1239 1101 1053
Total Assets 1331 1450 1487 1695 1842 1872 1841 1790 1335 1254 1188

Vipul 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 31 32 17 9 13 5 14 23 13 86 42
Cash Flow from Operating Activities -109 -46 -56 -166 -3 116 258 17 421 -112 43
Cash Flow from Investing Activities -20 -18 -1 4 21 7 16 16 9 207 12
Cash Flow from Financing Activities 131 46 49 165 -26 -115 -265 -43 -357 -138 -77
Net Cash Inflow / Outflow 1 -18 -8 4 -8 9 9 -10 73 -43 -22
Closing Cash & Cash Equivalent 32 14 9 13 5 14 23 13 86 42 20

Vipul 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) -0.91 -0.82 -0.99 -0.4 0.1 -2.89 -4.59 -3.45 -9.75 19.48 -1.98
CEPS(Rs) -0.83 -0.67 -0.45 0.07 0.52 -2.51 -4.33 -3.22 -9.55 19.69 -1.81
DPS(Rs) 0 0 0.05 0.05 0.05 0 0 0 0 0 0
Book NAV/Share(Rs) 31.62 30.8 29.77 30.42 30.44 27.18 22.62 19.22 9.49 29.25 26.69
Core EBITDA Margin(%) 4.46 7.18 8.15 10.78 12.99 -14.81 -140.63 -18.68 21.57 41.08 -13.5
EBIT Margin(%) 5.29 12.33 7.9 11.42 13.96 -3.24 -117.06 -14.39 -95.19 150.8 -4.01
Pre Tax Margin(%) -5.7 -5.75 -6.53 -1.18 -0.76 -21.53 -196.42 -35.36 -146 139.08 -32.43
PAT Margin (%) -4.8 -5.35 -5.11 -1.7 0.54 -19.46 -149.17 -30.26 -156.63 113.08 -32.49
Cash Profit Margin (%) -4.25 -4.34 -2.32 0.3 2.74 -17.07 -139.65 -27.99 -152.92 114.41 -29.26
ROA(%) -0.89 -0.71 -0.81 -0.3 0.07 -1.85 -2.99 -2.3 -7.51 18.04 -2.32
ROE(%) -2.92 -2.64 -3.26 -1.34 0.33 -9.94 -18.58 -16.67 -68.15 100.47 -7.78
ROCE(%) 2.04 3.2 2.35 3.52 3.08 -0.58 -4.65 -2.29 -11.75 67.76 -0.7
Receivable days 195.03 329.55 300.65 258.26 441.9 736.78 3504.99 865.43 1092.46 329.67 1091.2
Inventory Days 1074.42 1447.65 1217.86 1100.79 1540.9 2093.05 0 2604.71 4200.49 1072.65 1844.03
Payable days 177.39 567.66 328.87 222.57 -5634.6 -1299.87 1342.26 3060.83 -3090.22 861.86 0
PER(x) 0 0 0 0 363.28 0 0 0 0 1.38 0
Price/Book(x) 1.42 1.38 2.11 1.75 1.21 0.54 1.27 0.94 1.16 0.92 0.38
Dividend Yield(%) 0 0 0.08 0.09 0.14 0 0 0 0 0 0
EV/Net Sales(x) 3.4 4.63 5.14 4.53 4.81 4.52 24.7 5.61 5.04 2.24 2.16
EV/Core EBITDA(x) 58.18 34.69 48.08 33.77 29.82 -515.53 -22.33 -47.55 14.47 1.46 398.3
Net Sales Growth(%) -10.49 -20.99 25.54 22.32 -20.44 -21.88 -78.91 271.46 -45.81 175.62 -57.83
EBIT Growth(%) -9.15 84.29 -19.53 76.76 -2.76 -118.18 -661.03 54.35 -258.55 536.65 -101.12
PAT Growth(%) -41.65 12 -19.79 59.2 125.13 -3037.61 -61.64 24.66 -180.54 299 -112.12
EPS Growth(%) -38 9.57 -19.78 59.61 125.39 -2953.31 -58.89 24.99 -183.15 299.72 -110.18
Debt/Equity(x) 0.79 1.02 1.28 1.82 1.79 1.97 2.33 2.61 2.34 0.54 0.23
Current Ratio(x) 1.7 1.64 1.51 1.68 1.6 1.42 1.14 1.08 1.04 1.24 1.3
Quick Ratio(x) 0.6 0.61 0.54 0.61 0.61 0.55 0.44 0.45 0.4 0.75 0.78
Interest Cover(x) 0.48 0.68 0.55 0.91 0.95 -0.18 -1.48 -0.69 -1.87 12.87 -0.14
Total Debt/Mcap(x) 0.56 0.74 0.61 1.04 1.48 3.67 1.83 2.77 2.02 0.58 0.59

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -58% -14% -13% -9%
Operating Profit CAGR -100% — — -100%
PAT CAGR -112% — — —
Share Price CAGR +17% -15% -20% -20%
ROE Average -8% +8% -2% -3%
ROCE Average -1% +18% +10% +6%

Vipul Shareholding Pattern

Latest · Jun 2026
100% held
Promoters 18.25 %
FII 10.41 %
DII (MF + Insurance) 0.99 %
Public (retail) 70.35 %
# Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
Promoter 60.5251.5131.0420.3318.2518.2518.2518.2518.2518.25
FII 0.191.877.236.137.259.658.8111.2713.2110.41
DII 00.520.520.52000000.99
Public 39.346.0961.273.0274.572.172.9470.4868.5570.35
Others 0000000000
Total 100100100100100100100100100100

Vipul Peer Comparison

Construction - Real Estate Edit Columns

Vipul Quarterly Price

10-year quarterly close · BSE
Show Value Show %

News & Updates

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Vipul Pros & Cons

Pros

  • Stock is trading at 0.4 times its book value
  • Debtor days have improved from 861.86 to 0days.
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 18.25%.
  • Company has a low return on equity of 8% over the last 3 years.
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