VL Infraprojects Ltd.

•

vlil.inBSE: -NSE: VLINFRA

Market Cap₹ 42 Cr.

Current Price

High / Low₹ 40 / 18

Stock P/E5.0

Book Value₹ 27

Price to Book1.83

Dividend Yield0.00 %

ROCE27.3 %

ROE24.1 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Construction

Buy

Construction fundamentals are strong, led by government and infrastructure spending. Capital expenditure was up 66% YoY (2026-06), cement output grew 13.1% YoY (2026-07), and the sector also benefits from improving housing and GFCF conditions. FPI flows turned supportive with INR 1720 crore net inflow over 3 months to 2026-08-31 from INR -9439 crore in the prior 3 months, reinforcing the positive view.

Confidence

80%

View full sector analysis →

PROS

Company has a good return on equity (ROE) track record: 3 Years ROE 31.8%
Company has a healthy return on capital (ROCE) of 30.7%
Attractively priced for its growth - PEG of 0.1
Company maintains a comfortable, low leverage position
Company converts assets efficiently - asset turnover of 1.7x

CONS

Operating cash flow has been negative in recent years
Receivables are growing faster than sales - a possible quality concern
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.94x)
Equity base is being diluted - shares outstanding up 473.4%
Working capital days have increased from 51 to 119 days
Total debt has risen sharply - up 42.5% year on year

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

Peer comparison

ConstructionInfrastructureEngineering - Construction

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

S.No.	Name
1.	LT	3989.15	33.08	548853.62	0.95	4988.03	15.51	67941.74	6.69	15.98	12.00
2.	RVNL	205.95	47.74	42940.99	0.34	159.52	18.73	4321.23	10.55	10.81	4.41
3.	KPIL	1410.25	21.19	24083.20	0.78	311.53	45.85	6407.97	3.84	18.95	8.77
4.	IRB	19.18	24.28	23165.60	1.36	3062.70	1412.58	21372.72	918.25	7.72	53.93
5.	CEMPRO	1234.85	35.26	21213.19	0.24	140.83	2.64	2720.92	7.02	33.53	10.09
6.	ENGINERSIN	276.40	19.81	15534.85	1.81	157.94	141.49	819.84	-5.80	30.94	20.61
7.	TECHNOE	969.70	26.16	11277.57	0.72	93.33	-31.44	630.34	19.84	14.86	15.79
8.	IRCON	118.30	21.25	11126.30	1.61	92.03	-43.92	1955.83	9.49	10.15	9.81
9.	KEC	407.85	19.61	10856.97	1.35	72.62	-41.72	5023.54	0.01	16.35	5.79
10.	AFCONS	284.95	72.43	10480.02	0.70	303.00	120.52	26710.00	692.49	12.88	9.42
11.	WELENT	741.55	33.58	10264.08	0.40	56.36	-44.29	773.72	-8.44	16.44	19.49
12.	VLINFRA	26.60	4.96	41.80	0.00	—	—	—	—	27.30	—

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

No standalone quarterly results found

We don't have this information yet. Please check back later.

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	31	36	46	114	121
	28	32	41	103	108
Operating Profit	3	3	5	11	13
OPM %	8	9	11	10	11
Other Income	0	0	0	0	0
Interest	1	1	1	2	3
Depreciation	0	0	0	0	0
	1	2	3	8	10
Tax %	30	28	28	28	30
Net Profit	1	1	2	6	7
EPS	1	1	2	5	4
Dividend Payout %	0	0	0	0	0
Minority Interest	0	0	0	0	0
Share of Associates	0	0	0	0	0
Adjusted EPS	1	1	2	5	4

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: 50%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: 85%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: -30%

RETURN ON EQUITY

10 Years:: —
5 Years:: 25%
3 Years:: 32%
Last Year:: 24%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
LIABILITIES	-	-	-	-	-
Equity Capital	3	3	8	11	16
	3	5	3	5	26
	2	7	7	10	17
Trade Payables	3	1	6	24	16
	5	4	5	7	10
Total Liabilities	16	20	28	57	85
ASSETS	-	-	-	-	-
	2	2	2	3	7
Capital Work in Progress	0	0	0	1	0
	2	2	3	3	3
	0	0	0	17	23
Cash & Bank	0	0	0	2	5
	13	15	23	32	46
Total Assets	16	20	28	57	85
Total Debt	7	10	10	14	20
Net Working Capital	7	8	10	16	40
Contingent Liabilities	2	2	5	7	10
Book Value per Share	22.64	26.67	13.56	14.48	26.67
Face Value	10.00	10.00	10.00	10.00	10.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	0	-2	1	-0	-15
Cash from Investing	-1	-0	-1	-3	-4
Cash from Financing	1	3	-0	3	23
	-0	0	0	0	3
Free Cash Flow	0	-3	1	-3	-19
OCF / Net Profit	0.59	-2.20	0.51	-0.03	-2.19
Cumulative 5-Year FCF	0	0	0	0	0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	3.04	4.04	2.96	5.40	4.47
Book Value (₹)	22.64	26.67	13.56	14.48	26.67
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	0.93	1.41	2.31	5.84	4.77
PROFITABILITY
Operating Margin %	8.17%	8.98%	10.56%	9.54%	10.72%
Net Margin %	2.71%	3.11%	4.89%	5.36%	5.80%
ROE %	13.44%	16.37%	25.41%	45.94%	24.08%
ROCE %	18.69%	18.88%	23.60%	41.09%	27.30%
	5.08%	6.15%	9.29%	14.26%	9.85%
EFFICIENCY
Debtor Days	67	56	52	39	60
Inventory Days	19	18	19	9	10
Payable Days	80	48	50	73	117
	6	26	21	-25	-47
FINANCIAL HEALTH
Debt to Equity (x)	1.06x	1.37x	0.98x	0.87x	0.49x
Interest Coverage (x)	1.98x	2.19x	3.31x	5.32x	4.86x
	1.88x	1.92x	1.67x	1.42x	2.08x
GROWTH
Revenue Growth %	0.00%	15.73%	28.14%	150.09%	6.24%
Operating Profit Growth %	0.00%	27.14%	50.76%	127.29%	20.27%
Net Profit Growth %	0.00%	32.64%	101.36%	174.32%	14.90%
	0.00%	0.00%	0.00%	82.88%	-17.35%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	10.90x
P/B (x)	0.00x	0.00x	0.00x	0.00x	1.83x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	2.18x	6.97x

Shareholding Pattern

Numbers in percentages

	Sep 2024	Mar 2025	Sep 2025	Mar 2026
	65.39	65.39	65.39	65.70
	4.28	2.81	0.70	0.65
	0.92	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00
	29.41	31.80	33.91	33.65

Documents

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

No announcements filed.

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