Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹499 Cr.
Stock P/E
0.5
P/B
-2.5
Current Price
₹34.2
Book Value
₹ -13.7
Face Value
10
52W High
₹70
52W Low
₹ 27.7
Dividend Yield
0%

VISA Chrome Overview

Business

VISA Chrome Ltd. (VISASTEEL) is an Indian company operating in the Steel & Iron Products sector. Its core business involves the manufacturing and sale of various steel and iron products, likely specializing in chrome-alloyed steel or stainless steel given its name "Chrome." The company's business model revolves around procuring raw materials (iron ore, coking coal, chrome ore, scrap), processing them through integrated or semi-integrated steel-making facilities, and producing finished and semi-finished steel products for industrial and construction applications. Revenue is generated from the direct sale of these manufactured steel products to a diverse customer base, including infrastructure projects, automotive industries, construction companies, and other manufacturing sectors.

Revenue Mix

While specific breakdowns are not provided, given its name and sector, VISA Chrome Ltd. likely specializes in segments related to:

Specialty Steel Products: This could include stainless steel, ferrochrome, or other chrome-alloyed steels which offer specific properties like corrosion resistance or high strength.

Long Products: Such as rebar, wire rods, and structural steels primarily for construction and infrastructure.

Flat Products: Such as sheets, plates, and coils used in manufacturing, automotive, and consumer durables.

A significant portion of revenue is expected to come from the manufacturing and direct sales of these steel products.

Industry

The Indian steel industry is large, capital-intensive, and highly cyclical, driven primarily by infrastructure development, construction, and manufacturing growth. It features a mix of large integrated players (e.g., Tata Steel, JSW Steel, SAIL) and numerous mid-to-small scale producers. Given its focus suggested by "Chrome," VISA Chrome Ltd. likely occupies a niche or mid-tier position, potentially competing on product specialization, quality, or regional presence rather than sheer scale against the industry giants. Its positioning would depend on its production capacity, product mix, and market share within its specific product categories.

MOAT

For a steel company, potential competitive advantages are often:

Cost Advantage: Achieved through efficient operations, backward integration (owning raw material mines like iron ore or chrome ore), proximity to markets, or superior logistics.

Scale: Larger players benefit from economies of scale in production, procurement, and distribution.

Product Specialization/Quality: Excelling in niche, value-added products (like specific chrome-alloyed steels) can create a differentiation moat.

Brand/Relationships: While less pronounced in commodity steel, long-standing customer relationships and a reputation for reliable supply and quality can offer some advantage.

Without specific details, VISA Chrome Ltd.'s moat would likely stem from its potential specialization in chrome-based steels, offering a differentiated product, or efficient regional operations if it serves specific local markets effectively.

Growth Drivers

Infrastructure Development: Government initiatives in India for roads, railways, ports, airports, and urban development drive demand for steel.

Urbanization & Construction: Rapid urbanization leads to increased residential and commercial construction, boosting steel consumption.

Manufacturing Sector Growth: Expansion in automotive, capital goods, and consumer durable industries fuels demand for flat and specialty steel products.

"Make in India" Initiative: Government focus on boosting domestic manufacturing can increase steel consumption within the country.

Export Opportunities: While the primary focus is domestic, global demand for specific steel products can provide export avenues.

Risks

Commodity Price Volatility: Fluctuations in raw material prices (iron ore, coking coal, chrome ore, scrap) and finished steel prices can significantly impact profitability.

Cyclical Demand: Steel demand is highly correlated with economic cycles, making the company vulnerable to economic downturns.

Environmental Regulations: Stringent environmental norms and compliance costs related to pollution control can impact operations and capital expenditure.

Import Competition: Influx of cheaper steel imports, particularly from countries with excess capacity, can depress domestic prices.

High Capital Intensity: Steel production requires significant capital investment in plants and machinery, leading to high fixed costs and potentially large debt burdens.

Trade Tariffs & Policies: Changes in government trade policies, tariffs, or anti-dumping duties can affect export/import dynamics.

Management & Ownership

As a company in India, it is likely promoter-driven, meaning the founding family or group holds a significant stake and exerts substantial control over strategic decisions. The management team would typically consist of professional executives overseeing daily operations, sales, and production, potentially with deep industry experience. Ownership structure often includes the promoter group as the largest shareholder, complemented by institutional investors (domestic and foreign), mutual funds, and retail shareholders. The quality of management would depend on their ability to navigate cyclical markets, manage costs, and drive technological adoption.

Outlook

VISA Chrome Ltd., as a steel producer in India, stands to benefit from the country's robust long-term economic growth trajectory, particularly in infrastructure and construction. The potential specialization in chrome-alloyed steels could provide a niche market advantage, insulating it somewhat from pure commodity price pressures and offering higher value-added products. However, the company operates within a highly cyclical and capital-intensive industry, making it susceptible to volatility in raw material prices, economic downturns, and intense competition. Its ability to maintain cost efficiency, adapt to evolving environmental regulations, and effectively manage its product mix will be crucial for sustained performance. The outlook is balanced between the tailwinds of domestic growth and the inherent challenges and risks of the global steel sector.

VISA Chrome Share Price

Live · BSE / NSE · Inception: 1996
₹ | |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

VISA Chrome 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 156 135 151 119 162 171 76 145 171 120
Other Income 0 0 0 0 0 1 3 0 1 0
Total Income 157 135 151 119 163 172 79 145 172 121
Total Expenditure 146 122 143 116 154 153 84 146 164 115
Operating Profit 11 13 8 3 9 19 -5 -1 8 5
Interest 7 7 8 8 8 8 8 9 8 8
Depreciation 12 12 12 12 12 6 6 7 6 7
Exceptional Income / Expenses 0 0 8 0 -477 0 0 0 1089 0
Profit Before Tax -9 -7 -4 -17 -488 4 -20 -17 1083 -10
Provision for Tax 0 0 0 0 0 0 0 0 0 0
Profit After Tax -9 -7 -4 -17 -488 4 -20 -17 1083 -10
Adjustments 0 -0 0 0 0 0 0 0 0 0
Profit After Adjustments -9 -7 -4 -17 -488 4 -20 -17 1083 -10
Adjusted Earnings Per Share -0.8 -0.6 -0.4 -1.5 -42.2 0.4 -1.7 -1.3 83.7 -0.7

VISA Chrome Profit & Loss

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
Net Sales 1303 1559 2067 1414 683 988 1118 657 670 566 562 512
Other Income 18 18 55 16 12 1 1 2 1 1 6 4
Total Income 1321 1577 2122 1430 695 989 1120 659 671 567 568 517
Total Expenditure 1322 1501 2027 1440 733 984 1101 649 665 535 548 509
Operating Profit -1 76 95 -10 -38 4 19 10 7 32 20 7
Interest 485 47 34 19 20 17 21 25 30 31 33 33
Depreciation 146 163 151 133 134 128 85 73 49 49 26 26
Exceptional Income / Expenses 0 0 0 0 0 -1056 0 1748 0 -469 1089 1089
Profit Before Tax -632 -133 -90 -162 -192 -1197 -87 1660 -72 -517 1050 1036
Provision for Tax 27 0 0 0 0 0 0 0 0 0 0 0
Profit After Tax -659 -133 -90 -162 -192 -1197 -87 1660 -72 -517 1050 1036
Adjustments 25 -2 2 -0 0 0 0 0 0 0 0 0
Profit After Adjustments -634 -135 -88 -162 -192 -1197 -87 1660 -72 -517 1050 1036
Adjusted Earnings Per Share -57.6 -12.3 -7.6 -14 -16.6 -103.4 -7.5 143.4 -6.2 -44.6 81.2 80

VISA Chrome Balance Sheet

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Shareholder's Funds -866 -615 -793 -955 -1148 -2346 -2433 -772 -844 -1361 -220
Minority's Interest 78 58 0 0 0 0 0 0 0 0 0
Borrowings 2356 1975 1476 1012 602 0 0 0 0 0 0
Other Non-Current Liabilities 2 2 4 22 25 22 18 47 42 38 34
Total Current Liabilities 2269 2754 2912 3221 3586 4177 4182 1793 1835 1856 721
Total Liabilities 3839 4174 3599 3300 3065 1853 1767 1068 1032 533 535
Fixed Assets 2895 3142 2933 2804 2679 1704 1625 959 920 447 446
Other Non-Current Assets 413 349 320 309 301 45 44 50 55 10 14
Total Current Assets 531 683 346 187 85 104 98 58 57 77 75
Total Assets 3839 4174 3599 3300 3065 1853 1767 1068 1032 533 535

VISA Chrome Cash Flow

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Opening Cash & Cash Equivalents 0 4 15 17 1 7 0 0 0 0 0
Cash Flow from Operating Activities -333 12 151 82 59 13 17 26 17 26 36
Cash Flow from Investing Activities 7 -4 14 16 11 1 -9 -17 -9 -12 -25
Cash Flow from Financing Activities 328 4 -153 -113 -64 -14 -9 -8 -8 -13 -9
Net Cash Inflow / Outflow 3 12 12 -16 6 1 -0 1 0 0 2
Closing Cash & Cash Equivalent 4 15 17 1 7 8 0 0 0 0 3

VISA Chrome Ratios

# Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Earnings Per Share (Rs) -57.64 -12.29 -7.56 -13.96 -16.57 -103.4 -7.53 143.39 -6.21 -44.61 81.22
CEPS(Rs) -46.71 2.65 5.26 -2.44 -5 -92.31 -0.15 149.66 -2.01 -40.41 83.23
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) -78.7 -56.46 -68.52 -82.5 -99.13 -202.64 -210.14 -66.68 -72.9 -117.53 -19.83
Core EBITDA Margin(%) -1.38 3.48 1.88 -1.81 -7.31 0.38 1.6 1.32 0.76 5.48 2.43
EBIT Margin(%) -10.58 -5.2 -2.66 -10.11 -25.22 -119.44 -5.94 256.38 -6.27 -85.79 192.89
Pre Tax Margin(%) -45.45 -7.99 -4.27 -11.43 -28.08 -121.16 -7.8 252.52 -10.73 -91.23 186.99
PAT Margin (%) -47.43 -7.99 -4.27 -11.43 -28.08 -121.16 -7.8 252.52 -10.73 -91.23 186.99
Cash Profit Margin (%) -36.95 1.75 2.9 -2 -8.47 -108.16 -0.16 263.56 -3.48 -82.64 191.59
ROA(%) -16.8 -3.33 -2.31 -4.69 -6.03 -48.69 -4.82 117.13 -6.85 -65.98 196.55
ROE(%) 0 0 0 0 0 0 0 0 0 0 0
ROCE(%) -4.8 -2.78 -1.83 -5.3 -7.05 -68.28 -6.14 208.88 -7.61 -185.17 1564.66
Receivable days 29.94 34.02 18.08 12.88 11.3 0 0 0 0 0.61 0.33
Inventory Days 60.91 54.61 37.47 28.85 36.02 12.49 10.67 10.64 4.34 6.38 8.94
Payable days 98.5 80.65 44.58 40.8 84.43 58.34 37.49 58.59 37.97 44.72 26.02
PER(x) 0 0 0 0 0 0 0 0.08 0 0 0.34
Price/Book(x) -0.18 -0.37 -0.21 -0.1 -0.03 -0.03 -0.07 -0.17 -0.27 -0.26 -1.4
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 3.04 2.61 1.83 2.55 5.12 3.58 3.25 2.22 2.35 3.03 1.27
EV/Core EBITDA(x) -2703.88 53.79 39.81 -377.01 -91.39 787.06 190.31 140.11 238.65 53.28 35.59
Net Sales Growth(%) 1.79 19.63 32.57 -31.57 -51.68 44.61 13.18 -41.22 1.89 -15.48 -0.81
EBIT Growth(%) -118.65 40.95 35.75 -156.2 -20.57 -584.76 94.38 2639.13 -102.49 -1057.04 323.01
PAT Growth(%) -117.87 79.77 32.77 -80.17 -18.74 -523.88 92.71 2003.49 -104.33 -618.53 303.3
EPS Growth(%) -132.33 78.68 38.47 -84.64 -18.73 -523.9 92.71 2003.48 -104.33 -618.52 282.07
Debt/Equity(x) -4.43 -6.25 -4.57 -3.68 -3.03 -1.48 -1.43 -1.75 -1.62 -1 -1.4
Current Ratio(x) 0.23 0.25 0.12 0.06 0.02 0.02 0.02 0.03 0.03 0.04 0.1
Quick Ratio(x) 0.15 0.14 0.08 0.03 0.01 0.02 0.02 0.03 0.03 0.04 0.08
Interest Cover(x) -0.3 -1.86 -1.65 -7.66 -8.82 -69.48 -3.19 66.44 -1.4 -15.78 32.69
Total Debt/Mcap(x) 24.58 16.7 22.15 37.97 111.29 47.22 19.54 10.49 5.91 3.79 1

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -1% -5% -11% -8%
Operating Profit CAGR -38% +26% +38% —
PAT CAGR — -14% — —
Share Price CAGR -47% +29% +17% +8%
ROE Average 0% 0% 0% 0%
ROCE Average +1565% +457% +315% +135%

VISA Chrome Shareholding Pattern

Latest · Jun 2026
100% held
Promoters 62.4 %
FII 13.1 %
DII (MF + Insurance) 0.04 %
Public (retail) 24.46 %
# Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
Promoter 48.2748.2752.6652.6652.6652.6652.6657.657.662.4
FII 17.4117.4113.3513.3513.3413.3413.3411.9511.9513.1
DII 000000.090000.04
Public 34.3234.3233.9933.993433.913430.4530.4524.46
Others 0000000000
Total 100100100100100100100100100100

VISA Chrome Peer Comparison

Steel & Iron Products Edit Columns

VISA Chrome Quarterly Price

10-year quarterly close · BSE
Show Value Show %

News & Updates

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VISA Chrome Pros & Cons

Pros

  • Stock is trading at -2.5 times its book value
  • Debtor days have improved from 44.72 to 26.02days.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 0% over the last 3 years.
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