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Vivid Mercantile Overview

1. Business Overview

Vivid Mercantile Ltd. operates in the Construction - Real Estate sector in India. Its core business model likely involves real estate development, encompassing activities such as land acquisition, planning, design, construction, and marketing of residential, commercial, or mixed-use properties. The company generates revenue primarily through the sale of developed properties (e.g., apartments, office spaces, retail units, plots) to end-users or investors. It may also derive income from construction contracts or property management services, though property sales are typically the primary revenue driver for real estate developers.

2. Key Segments / Revenue Mix

Without specific company data, the exact revenue mix is not ascertainable. However, a company in this sector typically diversifies across segments like:

Residential Properties: Apartments, villas, plotted developments.

Commercial Properties: Office spaces, IT parks.

Retail Properties: Shopping malls, high-street retail spaces.

Other: Potentially hospitality or industrial projects, depending on the company's strategy.

The contribution from each segment would depend on the company's project pipeline and market demand for specific property types.

3. Industry & Positioning

The Indian real estate sector is highly dynamic, cyclical, and largely unorganized, although the organized segment is growing. It is significantly influenced by macroeconomic factors like economic growth, interest rates, government policies (e.g., RERA, infrastructure spending), and consumer sentiment. The market is competitive, with a mix of large national players, regional developers, and smaller local entities. Vivid Mercantile Ltd., without further context, is likely positioned as a regional or mid-sized developer, potentially specializing in certain geographies within India or specific property types, competing with both established and emerging players in its target markets.

4. Competitive Advantage (Moat)

Without specific company details, it's challenging to identify definitive competitive advantages for Vivid Mercantile Ltd. Potential moats in the real estate sector, which Vivid might possess, include:

Strategic Land Bank: Owning desirable land parcels in high-growth areas.

Brand Reputation: A track record of timely delivery, quality construction, and customer trust.

Execution Capabilities: Strong project management and construction expertise to deliver projects efficiently.

Access to Capital: Ability to secure funding for large-scale projects at favorable terms.

Regulatory Expertise: Skill in navigating complex approvals and local regulations.

These factors are crucial for sustained success in the Indian real estate market.

5. Growth Drivers

Key factors that could drive growth for Vivid Mercantile Ltd. over the next 3-5 years include:

Urbanization & Demographic Trends: Continued migration to urban centers and a growing middle class fueling demand for housing and commercial spaces.

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

Economic Growth: A growing Indian economy leading to increased disposable incomes and business expansion, boosting real estate demand.

Access to Funding: Improved access to institutional funding and reduced interest rates making home ownership more accessible.

Project Pipeline: Successful acquisition of new land parcels and execution of attractive residential or commercial projects.

6. Risks

Vivid Mercantile Ltd. faces several risks inherent to the real estate sector:

Economic Cyclicality: Sensitivity to economic downturns, which can reduce property demand and prices.

Interest Rate Fluctuations: Rising interest rates can impact home loan affordability and developer financing costs.

Regulatory & Approval Delays: Complex and time-consuming approval processes, leading to project delays and cost overruns.

Land Acquisition Challenges: Difficulty in acquiring suitable land parcels at viable prices, along with legal and environmental hurdles.

Funding & Liquidity Risk: High capital requirements for projects and potential challenges in securing timely financing.

Competition: Intense competition from other developers, potentially leading to pricing pressures.

Construction Risks: Delays, cost overruns, and quality issues during the construction phase.

7. Management & Ownership

In India, companies like Vivid Mercantile Ltd. are often promoter-led, meaning a founding family or individual(s) hold significant ownership and direct management. The quality of management, including their experience, ability to navigate regulatory complexities, project execution skills, and financial acumen, is paramount for success in real estate. The ownership structure typically involves a significant promoter stake, with the remaining shares held by institutional investors, high-net-worth individuals, and the public.

8. Outlook

The outlook for Vivid Mercantile Ltd. is inherently tied to the broader Indian real estate market. On the bullish side, favorable demographics, ongoing urbanization, and supportive government policies could drive sustained demand for both residential and commercial properties. A growing economy and increased consumer confidence would further bolster this positive sentiment. However, the company operates in a highly capital-intensive and cyclical sector. Risks such as potential economic slowdowns, rising interest rates, intense competition, and regulatory hurdles, particularly regarding land acquisition and project approvals, remain significant. Its ability to acquire strategic land parcels, efficiently execute projects, manage debt, and maintain a strong balance sheet will be critical in navigating these challenges and capitalizing on market opportunities.

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Vivid Mercantile Key Financials

Market Cap ₹74 Cr.

Stock P/E 5.7

P/B 1.2

Current Price ₹7.4

Book Value ₹ 6.3

Face Value 1

52W High ₹8.9

Dividend Yield 0%

52W Low ₹ 4

Vivid Mercantile Share Price

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Volume
Price

Vivid Mercantile Quarterly Price

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Vivid Mercantile Peer Comparison

Vivid Mercantile 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 5 0 3 9 0 2 2 2 1 30
Other Income 2 7 9 0 -0 1 2 0 0 0
Total Income 6 8 12 10 0 3 4 2 1 30
Total Expenditure 5 6 1 9 -0 2 4 0 -0 22
Operating Profit 2 2 11 1 0 1 0 1 1 8
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 2 2 11 1 0 1 0 1 1 8
Provision for Tax 0 0 1 0 0 0 0 0 0 1
Profit After Tax 1 1 10 0 0 1 0 1 1 7
Adjustments 0 0 0 0 0 0 -0 0 -0 0
Profit After Adjustments 1 1 10 0 0 1 0 1 1 7
Adjusted Earnings Per Share 0.1 0.1 1 0 0 0.1 0 0.1 0.1 0.7

Vivid Mercantile Profit & Loss

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
Net Sales 0 0 0 0 11 11 30 17 18 4 10 35
Other Income 0 0 0 0 1 0 0 4 5 5 19 2
Total Income 0 0 0 0 13 11 30 21 23 9 28 37
Total Expenditure 0 0 0 0 12 14 30 17 18 5 13 26
Operating Profit 0 0 0 0 1 -3 0 4 5 5 16 10
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 0 0 0 0 1 -3 -0 4 5 4 16 10
Provision for Tax 0 0 0 0 0 0 0 0 1 0 3 1
Profit After Tax 0 0 0 0 1 -3 -0 4 5 4 13 9
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 0 0 0 0 1 -3 -0 4 5 4 13 9
Adjusted Earnings Per Share 0 0 0 0 0 -0.1 -0 0.4 0.5 0.4 1.3 0.9

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 150% -16% -2% 0%
Operating Profit CAGR 220% 59% 0% 0%
PAT CAGR 225% 48% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -6% 31% 38% NA%
ROE Average 32% 23% 17% 8%
ROCE Average 35% 24% 18% 9%

Vivid Mercantile Balance Sheet

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Shareholder's Funds 0 0 0 0 6 17 17 20 25 30 52
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 0 0 0 0 0 2 0 0 0 0 0
Other Non-Current Liabilities 0 0 0 0 -0 -0 -0 -0 -0 -0 1
Total Current Liabilities 0 0 0 0 3 3 9 0 1 4 7
Total Liabilities 0 0 0 0 9 22 26 21 26 34 60
Fixed Assets 0 0 0 0 1 1 1 1 0 0 0
Other Non-Current Assets 0 0 0 0 0 0 0 0 0 0 0
Total Current Assets 0 0 0 0 7 20 25 20 26 33 60
Total Assets 0 0 0 0 9 22 26 21 26 34 60

Vivid Mercantile Cash Flow

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Opening Cash & Cash Equivalents 0 0 0 0 0 0 0 0 0 0 0
Cash Flow from Operating Activities 0 -0 -0 0 -2 -7 2 -1 -7 -13 -20
Cash Flow from Investing Activities 0 0 0 0 -3 -11 0 2 6 10 20
Cash Flow from Financing Activities 0 0 0 0 6 12 -2 -0 1 3 -0
Net Cash Inflow / Outflow 0 -0 0 0 0 -5 -0 0 -0 0 -0
Closing Cash & Cash Equivalent 0 0 0 0 0 -5 0 0 0 0 0

Vivid Mercantile Ratios

# Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Earnings Per Share (Rs) 0 0 0 0 0.04 -0.11 -0 0.36 0.47 0.43 1.29
CEPS(Rs) 0 0.01 0.01 0 0.04 -0.1 0 0.37 0.48 0.44 1.3
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 0.03 0.03 0.03 0.03 0.35 0.59 0.59 2.04 2.51 2.95 5.22
Core EBITDA Margin(%) 0.56 0.26 0.34 0.51 -3.81 -26.12 0.02 0.29 0.52 -9.25 -29.71
EBIT Margin(%) 0.56 0.26 0.34 0.51 7.14 -26.92 -0.13 21.4 29.05 101.69 161.19
Pre Tax Margin(%) 0.56 0.26 0.34 0.51 7.14 -26.93 -0.14 21.4 29.05 101.69 161.18
PAT Margin (%) 0.56 0.26 0.34 0.51 5.85 -26.93 -0.14 21.11 26.24 98.18 133.38
Cash Profit Margin (%) 0.56 0.26 0.34 0.51 6.63 -25.62 0.16 21.56 26.83 99.9 133.6
ROA(%) 0.08 0.04 0.04 0.08 15.12 -20.19 -0.17 15.44 19.97 14.47 27.77
ROE(%) 0.23 0.12 0.12 0.23 22.48 -26.69 -0.24 19.17 20.53 15.84 31.7
ROCE(%) 0.18 0.09 0.09 0.18 24.4 -21.94 -0.21 19.44 22.42 15.27 34.91
Receivable days 0 0 0 0 10.81 76.58 73.6 87.26 18.82 0 197.76
Inventory Days 122.35 137.82 272.51 260.58 35.59 75.25 29.88 121.4 240.56 1767.51 883.19
Payable days 2329.56 2198.22 3319.22 1781.55 31.27 37.06 57.78 97.19 0.55 13.14 4.89
PER(x) 0 0 0 0 0 0 0 4.7 6.04 6.59 6.33
Price/Book(x) 0 0 0 0 0 0.95 0.65 0.82 1.12 0.97 1.57
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 2.05 1.92 2.56 1.88 0.29 1.79 0.36 0.98 1.62 7.22 8.9
EV/Core EBITDA(x) 364.5 744 752 372 3.61 -6.99 220.95 4.5 5.46 6.98 5.51
Net Sales Growth(%) 0 9.3 -24.23 34.35 0 -1.4 165.32 -43.44 5.31 -75.29 120.27
EBIT Growth(%) 0 -50 0 100 0 -471.7 98.69 9203.82 42.94 -13.5 249.16
PAT Growth(%) 0 -50 0 100 0 -554.07 98.66 8868.49 30.89 -7.52 199.25
EPS Growth(%) 0 -50 0 100 0 -368.55 98.66 0 30.89 -7.52 199.25
Debt/Equity(x) 0.29 0.3 0.31 0.31 0.12 0.25 0 0 0.03 0.12 0.09
Current Ratio(x) 0.17 0.2 0.25 0.28 2.85 7.33 2.77 319.34 21.28 8.4 9.16
Quick Ratio(x) 0.08 0.07 0.07 0.07 1.99 6.45 2.49 175.34 9.28 1.31 6.24
Interest Cover(x) 0 0 0 0 3125.29 -5601.06 -41.83 0 0 0 0
Total Debt/Mcap(x) 0 0 0 0 0 0.26 0 0 0.02 0.12 0.05

Vivid Mercantile Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 45.24 45.24 45.18 45.18 45.18 42.68 42.61 39.02 12.3 10.75
FII 0 0 0 0 0 0 0 0 0 0
DII 0 0 0 0 0 0 0 0 0 7.82
Public 54.76 54.76 54.82 54.82 54.82 57.32 57.39 60.98 87.7 81.44
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Vivid Mercantile News

Vivid Mercantile Pros & Cons

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 23%
  • Debtor days have improved from 13.14 to 4.89days.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 10.75%.
  • Earnings include an other income of Rs. 19 Cr.
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