Vipul Ltd.

•

vipulgroup.inBSE: 511726NSE: VIPULLTD

Market Cap₹ 205 Cr.

Current Price

High / Low₹ 19 / 7

Stock P/E0.0

Book Value₹ 27

Price to Book0.38

Dividend Yield0.00 %

ROCE-0.0 %

ROE-6.0 %

Face Value₹ 1

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ABOUT

AI Sector View

AI GENERATED

Realty

Buy

Housing and construction indicators remain supportive for real estate. The housing index reached 105 (Mar/26), residential property prices rose 4.21% (Mar/26), construction output was 5.4% (Jul/26), and cement output accelerated to 13.1% YoY (2026-07). Bank lending rates are steady at 8.96% (Aug/26) rather than easing, but FPI flows turned positive with INR 1999 crore net inflow over 3 months to 2026-08-31 from INR -7216 crore previously.

Confidence

75%

View full sector analysis →

PROS

Strong cash generation - operating cash flow backs reported profits (CFO/PAT 9.56x)
Company generates healthy free cash flow
Company maintains a comfortable, low leverage position

CONS

Company is loss-making at the operating / net level
Recent results are weak - TTM profit is down 366.7% versus prior year
Receivables are growing faster than sales - a possible quality concern
Promoter holding has decreased over last 2 years: -33.3pp
Company has a low return on equity of 2.0% over last 3 years
Interest coverage is weak at -0.0x - earnings barely cover interest

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

RealtyRealtyConstruction - Real Estate

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	DLF	670.00	37.30	165845.88	1.19	793.90	-89.59	1280.34	-52.87	6.81	49.68
2.	LODHA	1211.80	29.35	121085.87	0.35	1373.10	103.39	4996.70	43.10	16.89	38.51
3.	PHOENIXLTD	1930.00	53.93	69031.83	0.13	394.51	22.95	1074.94	12.80	13.70	59.77
4.	OBEROIRLTY	1877.50	25.96	68266.32	0.43	543.51	29.02	1300.89	31.73	17.69	56.75
5.	PRESTIGE	1579.00	59.72	68012.30	0.13	271.40	-12.87	2675.10	15.94	11.51	31.75
6.	GODREJPROP	1960.00	36.90	59040.39	0.51	349.38	-41.61	506.17	16.48	8.37	-57.98
7.	ANANTRAJ	587.90	36.57	21157.16	0.17	149.19	18.50	631.40	6.58	12.23	29.53
8.	BRIGADE	639.90	30.04	20877.33	0.23	216.94	37.35	1115.55	-12.93	11.02	32.33
9.	ABREL	1331.60	112.46	14873.40	0.19	-34.59	-27.73	188.85	30.95	-4.54	-30.02
10.	SOBHA	1230.00	57.04	13155.32	0.49	50.85	273.37	1278.15	50.03	6.96	6.07
11.	SIGNATURE	765.70	10.32	10772.33	0.00	-16.53	-148.00	551.99	-36.24	7.49	-8.10
12.	VIPULLTD	14.55	0.00	205.10	0.00	1.21	-67.70	9.19	-18.38	-0.70	-14.58

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	5	8	5	6	134	24	15	15	11	40	2	8	9
	10	68	11	10	56	11	12	10	8	63	14	11	11
Operating Profit	-5	-61	-6	-4	79	13	3	5	2	-23	-12	-3	-1
OPM %	-90.93%	-797.77%	-122.22%	-59.21%	58.37%	52.78%	21.84%	34.39%	22.84%	-56.75%	-721.89%	-35.35%	-14.58%
Other Income	2	3	2	2	13	214	2	3	3	5	12	3	3
Interest	10	8	10	6	9	-4	3	6	0	13	1	0	0
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0
	-12	-66	-14	-7	82	230	2	2	5	-31	-1	0	1
Tax %	-0.00%	-0.00%	-0.00%	-0.00%	22.13%	11.40%	0.00%	0.00%	0.00%	-0.00%	-0.00%	0.00%	0.00%
Net Profit	-12	-66	-14	-7	64	204	2	2	5	-31	-1	0	1
	-1	-5	-1	-1	5	17	0	0	0	-2	-0	0	0
Equity Capital	12	12	12	12	12	12	14	14	14	14	14	14	14
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

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
	179	226	269	216	161	36	122	38	170	81	59
	166	206	238	187	187	88	143	111	89	93	99
Operating Profit	24	26	38	33	-1	-41	-11	-64	313	1	—
OPM %	13	12	14	16	-1	-114	-9	-168	184	1	—
Other Income	11	5	7	5	24	11	9	9	232	13	23
Interest	22	25	32	31	29	26	23	36	20	22	14
Depreciation	1	1	1	1	1	1	0	0	1	1	1
	1	-0	6	2	-31	-67	-35	-195	292	-22	-31
Tax %	6	-150	56	6	12	26	20	0	15	0	0
Net Profit	1	-1	3	1	-27	-49	-28	-195	247	-22	-31
EPS	0	0	0	0	-2	-4	-2	-16	21	-2	—
Dividend Payout %	0	-88	24	42	0	0	0	0	0	0	—
Minority Interest	0	0	0	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	0
Adjusted EPS	0	-0	0	0	-2	-4	-2	-16	21	-2	—

COMPOUNDED SALES GROWTH

10 Years:: -10%
5 Years:: -13%
3 Years:: -13%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: -15%
5 Years:: -17%
3 Years:: -2%
1 Year:: 32%

RETURN ON EQUITY

10 Years:: -2%
5 Years:: -3%
3 Years:: 2%
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
LIABILITIES	-	-	-	-	-	-	-	-	-	-
Equity Capital	12	12	12	12	12	12	12	12	12	14
	399	390	392	392	364	315	288	94	341	367
	183	174	243	125	302	527	492	183	164	76
Trade Payables	33	29	38	53	64	82	81	57	53	45
	510	597	723	960	883	658	665	711	682	689
Total Liabilities	1,137	1,202	1,408	1,541	1,625	1,594	1,539	1,057	1,253	1,191
ASSETS	-	-	-	-	-	-	-	-	-	-
	8	8	7	7	4	4	3	3	4	3
	24	24	24	24	24	24	24	11	11	10
	400	410	537	604	641	650	575	400	406	410
	0	0	0	329	0	0	0	0	248	272
Cash & Bank	19	16	14	4	17	58	41	19	48	32
	687	744	826	573	940	859	895	623	536	464
Total Assets	1,137	1,202	1,408	1,541	1,625	1,594	1,539	1,057	1,253	1,191
Total Debt	295	432	638	624	616	607	576	239	173	85
Net Working Capital	497	546	644	650	532	228	156	41	219	263
Contingent Liabilities	205	100	105	123	122	136	144	501	476	433
Book Value per Share	34.23	33.47	33.64	33.68	31.37	27.28	25.00	8.79	29.44	27.06
Face Value	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00

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
	-59	-108	-172	36	38	32	33	364	-86	17
Cash from Investing	10	2	5	4	7	12	10	9	207	13
Cash from Financing	42	107	171	-48	-37	-35	-54	-375	-86	-60
	-6	1	4	-8	9	9	-11	-2	35	-30
Free Cash Flow	-59	-110	-173	35	38	32	33	364	-86	17
OCF / Net Profit	-51.03	159.85	-68.78	24.92	-1.40	-0.66	-1.17	-1.87	-0.35	-0.78
Cumulative 5-Year FCF	0	0	0	0	-268	-176	-34	503	381	360

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
PER SHARE
EPS (₹)	0.10	-0.06	0.21	0.12	-2.29	-4.11	-2.32	-16.23	20.63	-1.55
Book Value (₹)	34.23	33.47	33.64	33.68	31.37	27.28	25.00	8.79	29.44	27.06
Dividend per Share (₹)	0.00	0.05	0.05	0.05	0.00	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	0.18	0.04	0.31	0.20	-2.22	-4.07	-2.28	-16.20	20.67	-1.50
PROFITABILITY
Operating Margin %	13.44%	11.54%	14.26%	13.25%	-0.73%	-114.47%	-9.17%	-168.14%	47.74%	-14.80%
Net Margin %	0.64%	-0.30%	0.93%	0.66%	-17.04%	-138.33%	-22.78%	-513.45%	145.53%	-26.95%
ROE %	0.28%	-0.17%	0.62%	0.35%	-7.03%	-14.03%	-8.88%	-96.07%	107.89%	-5.96%
ROCE %	3.42%	3.25%	3.96%	3.14%	-0.20%	-4.30%	-1.29%	-26.02%	71.73%	-0.02%
	0.11%	-0.06%	0.19%	0.10%	-1.73%	-3.07%	-1.78%	-15.01%	21.43%	-1.79%
EFFICIENCY
Debtor Days	341	308	272	463	807	3655	977	2152	400	1169
Inventory Days	775	653	642	965	1411	6604	1828	4694	866	1833
Payable Days	420	228	245	-3996	-2851	-5600	0	0	-3705	-9109
	696	733	670	5424	5070	15858	2805	6846	4970	12110
FINANCIAL HEALTH
Debt to Equity (x)	0.72x	1.07x	1.58x	1.54x	1.64x	1.85x	1.92x	2.27x	0.49x	0.22x
Interest Coverage (x)	1.06x	0.99x	1.18x	1.05x	-0.07x	-1.62x	-0.50x	-4.42x	15.37x	-0.00x
	2.08x	2.14x	2.17x	1.95x	1.60x	1.20x	1.13x	1.05x	1.24x	1.33x
GROWTH
Revenue Growth %	-23.49%	26.71%	18.89%	-19.87%	-25.36%	-77.84%	242.85%	-68.98%	348.28%	-52.21%
Operating Profit Growth %	89.35%	8.85%	46.80%	-12.77%	-103.52%	-3364.92%	72.54%	-468.87%	590.46%	-99.81%
Net Profit Growth %	117.51%	-158.94%	468.75%	-42.83%	-2017.64%	-79.91%	43.55%	-599.17%	227.06%	-108.85%
	0.00%	0.00%	0.00%	-42.83%	0.00%	0.00%	0.00%	0.00%	227.06%	-107.53%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	308.72x	0.00x	0.00x	0.00x	0.00x	1.30x	0.00x
P/B (x)	0.00x	0.00x	0.00x	1.09x	0.00x	0.00x	0.00x	0.00x	0.91x	0.38x
Dividend Yield %	0.00%	0.00%	0.00%	0.14%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	31.73x	0.00x	0.00x	0.00x	0.00x	1.43x	336.41x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	51.51	31.04	20.33	18.25	18.25	18.25	18.25	18.25	18.25
	1.87	7.23	6.13	7.25	9.65	8.81	11.27	13.20	10.42
	0.52	0.52	0.52	0.00	0.00	0.00	0.00	0.00	0.99
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	46.09	61.20	73.02	74.50	72.11	72.94	70.48	68.55	70.35

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-03

Updates

2026-09-03 - Vipul Limited has informed the Exchange regarding 'Disclosure pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 '.

2026-09-02

Reasons for Delayed/Non-submission of Financial Results

2026-09-02 - Vipul Limited has informed the Exchange about reasons for Delayed/Non-submission of Financial Results

2026-09-02

Updates

2026-09-02 - Vipul Limited has informed the Exchange regarding 'Clarification regarding disclosure under Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011'.

2026-06-29

Appointment

2026-06-29 - Vipul Limited has informed the Exchange regarding Appointment of as Non- Executive Independent Director of the company w.e.f. Jun 26, 2026.

2026-06-29

Appointment

2026-06-29 - Vipul Limited has informed the Exchange regarding Appointment of MR DIPESH JASVANTLAL SHAH as Non- Executive Independent Director of the company w.e.f. Jun 26, 2026.

2026-06-28

Trading Window

2026-06-28 - Vipul Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015

2026-06-11

Disclosure under SEBI Takeover Regulations

2026-06-11 - Sunita Beriwala has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

2026-06-05

Resignation

2026-06-05 - Vipul Limited has informed the Exchange regarding Resignation of Mr. Rajeev Gupta as Non- Executive Independent Director of the company w.e.f. Jun 04, 2026.

2026-06-05

Resignation of Director/KMP/SMP

2026-06-05 - Vipul Limited has informed the Exchange about Resignation of Director/KMP/SMP

News

Recent coverage and analyst commentary for VIPULLTD

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Free 5nance Account

Name

DLF

670.00

37.30

165845.88

1.19

793.90

-89.59

1280.34

-52.87

6.81

49.68

LODHA

1211.80

29.35

121085.87

0.35

1373.10

103.39

4996.70

43.10

16.89

38.51

PHOENIXLTD

1930.00

53.93

69031.83

0.13

394.51

22.95

1074.94

12.80

13.70

59.77

OBEROIRLTY

1877.50

25.96

68266.32

0.43

543.51

29.02

1300.89

31.73

17.69

56.75

PRESTIGE

1579.00

59.72

68012.30

0.13

271.40

-12.87

2675.10

15.94

11.51

31.75

GODREJPROP

1960.00

36.90

59040.39

0.51

349.38

-41.61

506.17

16.48

8.37

-57.98

ANANTRAJ

587.90

36.57

21157.16

0.17

149.19

18.50

631.40

6.58

12.23

29.53

BRIGADE

639.90

30.04

20877.33

0.23

216.94

37.35

1115.55

-12.93

11.02

32.33

ABREL

1331.60

112.46

14873.40

0.19

-34.59

-27.73

188.85

30.95

-4.54

-30.02

SOBHA

1230.00

57.04

13155.32

0.49

50.85

273.37

1278.15

50.03

6.96

6.07

SIGNATURE

765.70

10.32

10772.33

0.00

-16.53

-148.00

551.99

-36.24

7.49

-8.10

VIPULLTD

14.55

0.00

205.10

0.00

1.21

-67.70

9.19

-18.38

-0.70

-14.58

Dec 2022

Mar 2023

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

134

Operating Profit

-5

-61

-6

-4

-23

-12

-3

-1

OPM %

-90.93%

-797.77%

-122.22%

-59.21%

58.37%

52.78%

21.84%

34.39%

22.84%

-56.75%

-721.89%

-35.35%

-14.58%

Other Income

214

Interest

-4

Depreciation

-12

-66

-14

-7

230

-31

-1

Tax %

-0.00%

22.13%

11.40%

0.00%

-0.00%

0.00%

Net Profit

-12

-66

-14

-7

204

-31

-1

-5

-1

-2

-0

Equity Capital

Reserves

Promoter Pledge %

0.00%

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

179

226

269

216

161

122

170

166

206

238

187

143

111

Operating Profit

-1

-41

-11

-64

313

—

OPM %

-1

-114

-9

-168

184

—

Other Income

232

Interest

Depreciation

-0

-31

-67

-35

-195

292

-22

-31

Tax %

-150

Net Profit

-1

-27

-49

-28

-195

247

-22

-31

EPS

-2

-4

-2

-16

-2

—

Dividend Payout %

-88

—

Minority Interest

Share of Associates

Adjusted EPS

-0

-2

-4

-2

-16

-2

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

LIABILITIES

Equity Capital

399

390

392

364

315

288

341

367

183

174

243

125

302

527

492

183

164

Trade Payables

510

597

723

960

883

658

665

711

682

689

Total Liabilities

1,137

1,202

1,408

1,541

1,625

1,594

1,539

1,057

1,253

1,191

ASSETS

400

410

537

604

641

650

575

400

406

410

329

248

272

Cash & Bank

687

744

826

573

940

859

895

623

536

464

Total Assets

1,137

1,202

1,408

1,541

1,625

1,594

1,539

1,057

1,253

1,191

Total Debt

295

432

638

624

616

607

576

239

173

Net Working Capital

497

546

644

650

532

228

156

219

263

Contingent Liabilities

205

100

105

123

122

136

144

501

476

433

Book Value per Share

34.23

33.47

33.64

33.68

31.37

27.28

25.00

8.79

29.44

27.06

Face Value

1.00

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-59

-108

-172

364

-86

Cash from Investing

207

Cash from Financing

107

171

-48

-37

-35

-54

-375

-86

-60

-6

-8

-11

-2

-30

Free Cash Flow

-59

-110

-173

364

-86

OCF / Net Profit

-51.03

159.85

-68.78

24.92

-1.40

-0.66

-1.17

-1.87

-0.35

-0.78

Cumulative 5-Year FCF

-268

-176

-34

503

381

360

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

PER SHARE

EPS (₹)

0.10

-0.06

0.21

0.12

-2.29

-4.11

-2.32

-16.23

20.63

-1.55

Book Value (₹)

34.23

33.47

33.64

33.68

31.37

27.28

25.00

8.79

29.44

27.06

Dividend per Share (₹)

0.00

0.05

0.00

Cash EPS (₹)

0.18

0.04

0.31

0.20

-2.22

-4.07

-2.28

-16.20

20.67

-1.50

PROFITABILITY

Operating Margin %

13.44%

11.54%

14.26%

13.25%

-0.73%

-114.47%

-9.17%

-168.14%

47.74%

-14.80%

Net Margin %

0.64%

-0.30%

0.93%

0.66%

-17.04%

-138.33%

-22.78%

-513.45%

145.53%

-26.95%

ROE %

0.28%

-0.17%

0.62%

0.35%

-7.03%

-14.03%

-8.88%

-96.07%

107.89%

-5.96%

ROCE %

3.42%

3.25%

3.96%

3.14%

-0.20%

-4.30%

-1.29%

-26.02%

71.73%

-0.02%

0.11%

-0.06%

0.19%

0.10%

-1.73%

-3.07%

-1.78%

-15.01%

21.43%

-1.79%

EFFICIENCY

Debtor Days

341

308

272

463

807

3655

977

2152

400

1169

Inventory Days

775

653

642

965

1411

6604

1828

4694

866

1833

Payable Days

420

228

245

-3996

-2851

-5600

-3705

-9109

696

733

670

5424

5070

15858

2805

6846

4970

12110

FINANCIAL HEALTH

Debt to Equity (x)

0.72x

1.07x

1.58x

1.54x

1.64x

1.85x

1.92x

2.27x

0.49x

0.22x

Interest Coverage (x)

1.06x

0.99x

1.18x

1.05x

-0.07x

-1.62x

-0.50x

-4.42x

15.37x

-0.00x

2.08x

2.14x

2.17x

1.95x

1.60x

1.20x

1.13x

1.05x

1.24x

1.33x

GROWTH

Revenue Growth %

-23.49%

26.71%

18.89%

-19.87%

-25.36%

-77.84%

242.85%

-68.98%

348.28%

-52.21%

Operating Profit Growth %

89.35%

8.85%

46.80%

-12.77%

-103.52%

-3364.92%

72.54%

-468.87%

590.46%

-99.81%

Net Profit Growth %

117.51%

-158.94%

468.75%

-42.83%

-2017.64%

-79.91%

43.55%

-599.17%

227.06%

-108.85%

0.00%

-42.83%

0.00%

227.06%

-107.53%

VALUATION

P/E (x)

0.00x

308.72x

0.00x

1.30x

0.00x

P/B (x)

0.00x

1.09x

0.00x

0.91x

0.38x

Dividend Yield %

0.00%

0.14%

0.00%

0.00x

31.73x

0.00x

1.43x

336.41x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

51.51

31.04

20.33

18.25

1.87

7.23

6.13

7.25

9.65

8.81

11.27

13.20

10.42

0.52

0.00

0.99

Government

0.00

46.09

61.20

73.02

74.50

72.11

72.94

70.48

68.55

70.35

Vipul Ltd.

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Vipul Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI