Vijay Solvex Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2025 • Edible Oil: 99.0% • Ceramic: 1.0%
AI Sector View
AI GENERATEDFast Moving Consumer Goods
Rural demand proxies are mixed. Tractor sales rose 18.0% YoY (2026-07) and 2-wheelers were up 23.0% YoY (2026-06), but rural employment slowed to 1.0% YoY (2026-07), fertiliser sales were 0.0% YoY (2026-05), and food inflation of 5.52% (Jul/26) can pressure household budgets. FPI outflows remain heavy at INR -8081 crore over 3 months to 2026-08-31, limiting upside.
PROS
- Latest quarter profit grew 447.3% YoY, showing strong momentum
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.22x)
- Company generates healthy free cash flow
- Company comfortably covers its interest (7.5x coverage)
- Company maintains a comfortable, low leverage position
CONS
- Operating cash flow has been negative in recent years
- Company has a low return on capital employed of 5.5%
- Receivables are growing faster than sales - a possible quality concern
- Company has a low return on equity of 4.2% over last 3 years
- Total debt has risen sharply - up 261.6% year on year
- Company has delivered a poor profit growth of -2.2% over past five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| MARICO | 810.25 | 55.80 | 105347.77 | 0.49 | 652.00 | 27.10 | 3957.00 | 21.42 | 52.25 | 20.70 |
| PATANJALI | 341.25 | 18.85 | 37131.71 | 1.47 | 3357.34 | 1761.48 | 113374.51 | 1173.91 | 10.61 | 4.79 |
| AWL | 187.65 | 21.10 | 24388.47 | 0.53 | 351.39 | 47.67 | 20048.14 | 17.52 | 18.52 | 3.56 |
| GOKULAGRO | 230.50 | 16.18 | 6801.75 | 0.00 | 122.63 | 71.26 | 5281.95 | 7.26 | 37.07 | 3.85 |
| SUNDROP | 667.00 | 89.96 | 2514.38 | 0.00 | 12.13 | 181.44 | 428.08 | 15.22 | 2.01 | 5.84 |
| BCLIND | 35.59 | 9.01 | 1050.49 | 0.98 | 35.52 | 6.10 | 623.42 | -24.00 | 13.60 | 9.80 |
| MODINATUR | 350.55 | 8.92 | 466.46 | 0.00 | 12.50 | 19.14 | 155.61 | 0.37 | 23.80 | 14.25 |
| GOKUL | 42.66 | 20.40 | 422.31 | 0.00 | 6.08 | 57.63 | 1016.75 | 9.75 | 8.66 | 1.63 |
| KRITINUT | 83.74 | 12.59 | 419.57 | 3.58 | 8.92 | -6.03 | 247.08 | 7.88 | 20.30 | 4.72 |
| VIJSOLX | 647.80 | 8.70 | 207.38 | 0.00 | 5.58 | 428.60 | 622.50 | 35.20 | 7.35 | 1.40 |
| MKPL | 4.02 | 32.13 | 150.90 | 0.00 | 1.38 | -60.63 | 115.16 | 0.18 | 13.46 | 2.18 |
| ROML | 42.18 | 3.72 | 67.44 | 0.00 | 1.11 | -21.06 | 35.56 | 5.82 | 15.26 | 5.16 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 435 | 476 | 513 | 405 | 378 | 432 | 544 | 476 | 460 | 615 | 605 | 685 | 623 | |
| 434 | 475 | 518 | 398 | 377 | 426 | 533 | 468 | 458 | 607 | 597 | 672 | 615 | |
| Operating Profit | 1 | 1 | -5 | 7 | 1 | 6 | 11 | 8 | 3 | 9 | 8 | 14 | 7 |
| OPM % | 0.34% | 0.13% | -1.00% | 1.82% | 0.33% | 1.33% | 2.09% | 1.73% | 0.57% | 1.41% | 1.32% | 1.98% | 1.19% |
| 1 | 1 | 0 | 1 | 1 | 1 | 0 | 0 | 0 | 3 | 0 | 0 | 0 | |
| Interest | 0 | 1 | 0 | 0 | -0 | 0 | 1 | 2 | 1 | 3 | 1 | 3 | 1 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before Tax | 2 | 0 | -6 | 7 | 1 | 6 | 10 | 6 | 1 | 8 | 7 | 9 | 8 |
| Tax % | 27.78% | 41.94% | 3.88% | 9.36% | 25.38% | -6.61% | 25.33% | 29.11% | 27.66% | 22.71% | 25.00% | 30.21% | 26.28% |
| Net Profit | 1 | 0 | -6 | 7 | 1 | 6 | 7 | 4 | 1 | 6 | 5 | 7 | 6 |
| 4.49 | 0.55 | -18.58 | 20.89 | 3.01 | 19.13 | 23.00 | 12.25 | 3.18 | 18.72 | 16.30 | 20.51 | 17.44 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 663 | 687 | 879 | 1,226 | 1,448 | 2,070 | 2,716 | 2,430 | 1,829 | 1,831 | 2,528 | |
| 648 | 671 | 859 | 1,200 | 1,412 | 1,991 | 2,644 | 2,409 | 1,825 | 1,804 | 2,491 | |
| Operating Profit | 14 | 16 | 20 | 26 | 36 | 78 | 72 | 21 | 4 | 27 | 38 |
| OPM % | 2.15% | 2.30% | 2.30% | 2.10% | 2.46% | 3.79% | 2.64% | 0.86% | 0.24% | 1.46% | 1.49% |
| 0 | 3 | 0 | 2 | 2 | 11 | 8 | 6 | 3 | 2 | 3 | |
| Interest | 5 | 3 | 3 | 7 | 8 | 1 | 4 | 4 | 1 | 3 | 8 |
| Depreciation | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 |
| Profit before Tax | 8 | 14 | 16 | 19 | 27 | 87 | 73 | 20 | 3 | 22 | 32 |
| Tax % | 30.29% | 34.48% | 36.32% | 33.75% | 24.87% | 25.73% | 25.77% | 26.03% | 32.29% | 18.11% | 26.29% |
| Net Profit | 5 | 9 | 10 | 13 | 21 | 64 | 54 | 15 | 2 | 18 | 23 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 200.73 | 169.12 | 46.95 | 7.35 | 57.39 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 9%
- 5 Years:
- 5%
- 3 Years:
- -12%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 15%
- 5 Years:
- -2%
- 3 Years:
- -30%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- —
RETURN ON EQUITY
- 10 Years:
- 12%
- 5 Years:
- 14%
- 3 Years:
- 4%
- Last Year:
- 6%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| 83 | 100 | 111 | 123 | 144 | 209 | 263 | 278 | 281 | 299 | |
| 64 | 61 | 97 | 80 | 85 | 116 | 147 | 38 | 9 | 33 | |
| Trade Payables | 15 | 12 | 12 | 16 | 27 | 38 | 26 | 29 | 23 | 21 |
| 9 | 10 | 11 | 12 | 15 | 15 | 17 | 19 | 21 | 18 | |
| Total Liabilities | 173 | 186 | 233 | 235 | 274 | 381 | 457 | 367 | 336 | 374 |
| 15 | 16 | 16 | 18 | 20 | 22 | 24 | 22 | 35 | 38 | |
| Capital Work in Progress | 10 | 10 | 10 | 10 | 11 | 10 | 10 | 15 | 10 | 11 |
| 18 | 46 | 46 | 48 | 49 | 53 | 58 | 65 | 64 | 64 | |
| 65 | 47 | 71 | 50 | 33 | 100 | 131 | 76 | 68 | 115 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 21 | 25 | |
| Cash & Bank | 14 | 14 | 7 | 34 | 72 | 81 | 151 | 52 | 98 | 94 |
| 52 | 54 | 83 | 76 | 88 | 115 | 84 | 136 | 40 | 28 | |
| Total Assets | 173 | 186 | 233 | 235 | 274 | 381 | 457 | 367 | 336 | 374 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 6 | 27 | -31 | 60 | 53 | 1 | 60 | 75 | 31 | -22 | |
| Cash from Investing | -0 | -18 | 0 | -14 | -6 | -58 | 74 | -54 | 1 | 29 |
| Cash from Financing | -2 | -5 | 32 | -25 | -5 | 29 | 28 | -113 | -32 | 21 |
| 1 | -0 | -5 | 14 | 35 | -51 | 143 | -97 | -0 | 28 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
No announcements filed.
News
Recent coverage and analyst commentary for VIJSOLX
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