Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹53 Cr.
Stock P/E
1.5
P/B
—
Current Price
₹32.2
Book Value
₹ 0
Face Value
10
52W High
₹52.4
52W Low
₹ 28.3
Dividend Yield
0%

VSF Projects Overview

Business

VSF Projects Ltd. operates in the Engineering - Construction sector in India. Its core business involves undertaking various construction and infrastructure development projects. This typically includes activities such as civil construction, structural engineering, project management, and possibly design services for a range of clients, often government bodies, public sector undertakings, and private developers. The company generates revenue through project-based contracts, receiving payments tied to project milestones and final completion.

Revenue Mix

Without specific financial reports, the exact revenue mix for VSF Projects Ltd. is not available. However, for a typical Engineering - Construction company in India, major segments often include:

Infrastructure: Roads, bridges, flyovers, railways, urban infrastructure.

Buildings: Residential, commercial, industrial, institutional buildings.

Water & Environment: Water treatment plants, sewage networks, irrigation projects.

Power & Industrial: Power transmission & distribution, industrial structures.

Revenue generation is largely project-driven, based on the successful execution and completion of awarded contracts.

Industry

The Indian Engineering - Construction industry is highly competitive, capital-intensive, and cyclical, heavily influenced by government expenditure on infrastructure and private sector capital expenditure. It is characterized by numerous players ranging from large, diversified conglomerates to mid-sized and regional specialists. The industry faces challenges such as land acquisition, regulatory clearances, and funding availability. Without specific project details or market share information, VSF Projects Ltd.'s exact positioning is unclear. It likely competes with established large national players for major contracts, and with other mid-tier or regional firms within specific project types or geographical areas.

MOAT

Strong, sustainable competitive advantages (moats) are generally difficult to establish in the commoditized Engineering - Construction sector. Potential areas for VSF Projects Ltd. to differentiate, though often not true moats, could include:

Execution Capability & Track Record: A history of timely and quality project completion can enhance reputation and bid success.

Client Relationships: Long-standing relationships with key clients, especially government agencies, can lead to repeat business.

Specialized Expertise: Niche capabilities in complex or specialized construction areas (e.g., specific types of bridges, industrial plants).

Cost Efficiency: Operational excellence and efficient project management to deliver projects competitively.

However, these advantages are often replicable and can be challenged by aggressive competition.

Growth Drivers

Key factors that can drive growth for VSF Projects Ltd. over the next 3-5 years include:

Government Infrastructure Push: Continued high levels of government spending on roads, railways, urban development, and other public infrastructure projects (e.g., National Infrastructure Pipeline, Gati Shakti).

Urbanization and Industrialization: Growing demand for residential, commercial, and industrial buildings as India's economy expands and urbanizes.

Private Sector CAPEX: Revival in private sector investment in manufacturing, logistics, and real estate.

Successful Bid Wins: Ability to secure a consistent pipeline of new, profitable projects.

Technological Adoption: Implementation of modern construction techniques and digital tools to improve efficiency and project delivery.

Risks

VSF Projects Ltd. faces several risks common to the Engineering - Construction sector:

Project Execution Risk: Delays, cost overruns, contractual disputes, and quality issues can impact profitability and reputation.

Economic Cycles & Policy Changes: Downturns in the economy or shifts in government policy can reduce project awarding and demand.

Input Cost Volatility: Fluctuations in prices of key raw materials (steel, cement), labor, and fuel can erode margins.

Working Capital Management: High working capital requirements and potential delays in payments from clients can strain liquidity.

Intense Competition: Fierce bidding for contracts can lead to lower margins and undercutting.

Regulatory & Environmental Hurdles: Delays in obtaining approvals, clearances, and compliance with environmental norms.

Interest Rate Risk: High borrowing costs for projects and working capital can impact financial health.

Management & Ownership

Specific details regarding the promoters, management quality, and ownership structure of VSF Projects Ltd. are not publicly available in this overview. Typically, many Indian construction companies are promoter-led, with family involvement in management. The ownership structure would usually involve promoters holding a significant stake, alongside institutional and public shareholders if it is a publicly traded entity.

Outlook

The outlook for VSF Projects Ltd. is largely tied to the broader trends in the Indian infrastructure and construction sector. The company benefits from the Indian government's strong emphasis on infrastructure development, which provides a significant pipeline of potential projects. However, it operates in a highly competitive, capital-intensive industry with inherent risks related to project execution, input cost volatility, and working capital management. Its success will depend on its ability to effectively bid for and execute projects profitably, maintain a healthy order book, manage its balance sheet efficiently, and navigate regulatory complexities. While sectoral tailwinds are present, sustained growth and profitability will require strong operational execution and prudent financial management.

VSF Projects Share Price

Live · BSE · Inception: 1992
₹ | |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

VSF Projects Quarterly Results

#(Fig in Cr.)
Net Sales
Other Income
Total Income
Total Expenditure
Operating Profit
Interest
Depreciation
Exceptional Income / Expenses
Profit Before Tax
Provision for Tax
Profit After Tax
Adjustments
Profit After Adjustments
Adjusted Earnings Per Share

VSF Projects Profit & Loss

#(Fig in Cr.) Mar 2012 Mar 2013 Mar 2014 Mar 2016 Mar 2017 TTM
Net Sales 18 19 22 9 1
Other Income 0 0 0 0 0
Total Income 18 19 22 9 1
Total Expenditure 16 18 20 8 1
Operating Profit 2 2 2 1 1
Interest 0 0 1 1 0
Depreciation 0 0 0 0 0
Exceptional Income / Expenses 0 0 -0 -0 -0
Profit Before Tax 1 1 1 0 -0
Provision for Tax 0 0 0 0 -0
Profit After Tax 1 1 1 0 -0
Adjustments 0 0 0 0 0
Profit After Adjustments 1 1 1 0 -0
Adjusted Earnings Per Share 1 0.9 0.9 0.2 -0.1

VSF Projects Balance Sheet

#(Fig in Cr.) Mar 2012 Mar 2013 Mar 2014 Mar 2016 Mar 2017
Shareholder's Funds 11 29 39 30 30
Minority's Interest 0 0 0 10 10
Borrowings 10 13 14 16 16
Other Non-Current Liabilities -0 -0 -0 26 25
Total Current Liabilities 12 15 18 38 28
Total Liabilities 33 56 71 119 109
Fixed Assets 11 28 28 27 27
Other Non-Current Assets 10 25 38 51 53
Total Current Assets 12 4 5 40 29
Total Assets 33 56 71 119 109

VSF Projects Cash Flow

#(Fig in Cr.) Mar 2012 Mar 2013 Mar 2014 Mar 2016 Mar 2017
Opening Cash & Cash Equivalents 0 2 0 0 0
Cash Flow from Operating Activities -2 10 15 8 1
Cash Flow from Investing Activities -16 -32 -68 -10 -1
Cash Flow from Financing Activities 19 21 53 2 0
Net Cash Inflow / Outflow 2 -1 0 0 -0
Closing Cash & Cash Equivalent 2 0 0 0 0

VSF Projects Ratios

# Mar 2012 Mar 2013 Mar 2014 Mar 2016 Mar 2017
Earnings Per Share (Rs) 1.01 0.91 0.94 0.16 -0.14
CEPS(Rs) 1.28 1.2 1.3 0.58 0.16
DPS(Rs) 0 0 0 0 0
Book NAV/Share(Rs) 9.48 10.39 21.86 11.39 11.26
Core EBITDA Margin(%) 9.27 9.8 9.48 14.06 47.16
EBIT Margin(%) 8.25 8.55 7.46 11.17 20.67
Pre Tax Margin(%) 7.51 6.42 4.97 5.18 -16.47
PAT Margin (%) 5.14 4.34 3.9 1.64 -10.34
Cash Profit Margin (%) 6.52 5.7 5.4 5.85 11.95
ROA(%) 2.84 1.88 1.36 0.16 -0.11
ROE(%) 10.66 9.18 5.84 0.98 -1.24
ROCE(%) 7.52 7.38 5.4 3.15 0.92
Receivable days 152.01 85.16 24.63 270.28 1945.65
Inventory Days 0 0 0 0 0
Payable days 1877.89 1476.41 251.16 357.18 0
PER(x) 17.29 8.57 5.14 52.68 0
Price/Book(x) 1.84 0.75 0.22 0.75 0.42
Dividend Yield(%) 0 0 0 0 0
EV/Net Sales(x) 1.42 1.17 0.92 2.78 17.66
EV/Core EBITDA(x) 14.72 11.75 9.74 17.5 37.44
Net Sales Growth(%) 0 6.95 14.8 -59.01 -86.23
EBIT Growth(%) 0 10.82 0.17 -38.67 -74.51
PAT Growth(%) 0 -9.81 3.27 -82.77 -186.86
EPS Growth(%) 0 -9.81 3.26 -82.77 -186.86
Debt/Equity(x) 1.28 1.61 0.81 1.69 1.73
Current Ratio(x) 1.01 0.25 0.27 1.06 1.05
Quick Ratio(x) 1.01 0.25 0.27 1.06 1.05
Interest Cover(x) 11.1 4.01 2.99 1.86 0.56
Total Debt/Mcap(x) 0.69 2.15 3.65 2.25 4.1

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -89% -63% — —
Operating Profit CAGR 0% -21% — —
PAT CAGR — -100% — —
Share Price CAGR -30% -3% +36% +17%
ROE Average -1% +2% +5% +5%
ROCE Average +1% +3% +5% +5%

VSF Projects Shareholding Pattern

Latest · Jun 2026
100% held
Promoters 43.66 %
FII 0 %
DII (MF + Insurance) 1.33 %
Public (retail) 55.01 %
# Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
Promoter 43.3843.3543.5743.5743.5743.5343.5443.5443.6543.66
FII 0000000000
DII 3.333.331.331.331.331.331.331.331.331.33
Public 53.2953.3255.0955.155.155.1455.1255.1355.0255.01
Others 0000000000
Total 100100100100100100100100100100

VSF Projects Peer Comparison

Engineering - Construction Edit Columns

VSF Projects Quarterly Price

10-year quarterly close · BSE
Show Value Show %

News & Updates

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VSF Projects Pros & Cons

Pros

  • Debtor days have improved from 357.18 to 0days.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 43.66%.
  • Company has a low return on equity of 2% over the last 3 years.
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