Vadivarhe Speciality Chemicals Ltd.

•

vscl.net.inBSE: -NSE: VSCL

Market Cap₹ 33 Cr.

Current Price

High / Low₹ 32 / 16

Stock P/E0.0

Book Value₹ 1

Price to Book-12.09

Dividend Yield0.00 %

ROCE-22.9 %

ROE-499.1 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2013 • Speciality Chemicals: 84.9% • Neutraceuticals Products: 15.1%

AI Sector View

AI GENERATED

Chemicals

Hold

The available domestic chemical proxies are mixed to weak. Fertilizers output was -8.0% YoY (2026-07) and sale quantity of fertilisers was 0.0% YoY (2026-05), although that high-frequency barometer is stale. FPI positioning is less negative than before, with net 3-month outflow only INR -11 crore versus INR -1229 crore in the prior 3 months to 2026-08-31, but the weak sector driver argues for a neutral stance.

Confidence

55%

View full sector analysis →

PROS

Company is almost debt free
Operating margins have improved to -16.1% from -29.7%
Working capital cycle has improved - days down from 20 to -22

CONS

Company is loss-making at the operating / net level
Net worth is negative - accumulated losses have eroded equity
Operating cash flow has been negative in recent years
Company has a low return on equity of -159.5% over last 3 years
Receivables are growing faster than sales - a possible quality concern
Company has a low return on capital employed of -1.4%

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

Peer comparison

ChemicalsChemicalsChemicals

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

S.No.	Name
1.	SOLARINDS	21410.70	97.29	193745.54	0.05	666.37	88.98	3668.20	70.26	38.16	27.91
2.	PIDILITIND	1632.00	62.71	166117.97	1.32	8835.10	1202.86	45515.50	1112.74	32.38	26.28
3.	SRF	2605.00	35.72	77218.67	0.35	758.87	75.53	5033.26	34.63	14.21	24.57
4.	FLUOROCHEM	4691.60	83.80	51537.23	0.06	219.00	19.02	1588.00	23.97	9.58	26.83
5.	NAVINFLUOR	8697.20	56.51	44623.69	0.17	243.31	107.67	1045.08	44.07	21.39	34.17
6.	GODREJIND	1155.90	33.12	38936.61	0.00	523.36	-27.85	5448.09	22.16	10.64	12.82
7.	DEEPAKNTR	1727.25	30.08	23558.49	0.43	345.01	207.36	2577.60	36.39	11.58	20.96
8.	AETHER	1656.35	93.47	21984.38	0.00	62.75	33.45	326.56	27.49	11.65	31.47
9.	ATUL	6465.50	23.93	19035.57	0.46	253.93	91.85	1847.95	25.03	15.05	21.41
10.	AARTIIND	501.75	34.27	18199.81	0.20	155.00	260.47	2387.00	42.42	6.95	16.00
11.	DEEPAKFERT	1356.30	17.46	17179.29	0.74	490.04	100.95	3256.26	22.47	12.12	25.96
12.	VSCL	21.95	0.00	32.92	0.00	—	—	—	—	-22.89	—

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 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	26	35	26	32	30	26	21	44	40	38
	19	25	22	30	39	27	28	41	36	44
Operating Profit	7	10	4	2	-9	-1	-7	3	4	-6
OPM %	28.12%	29.69%	14.74%	7.18%	-30.66%	-2.33%	-32.29%	7.02%	11.03%	-16.11%
	0	1	0	0	0	1	1	1	1	0
Interest	1	1	1	1	1	1	2	2	2	2
Depreciation	1	1	1	2	2	2	2	2	2	2
Profit before Tax	5	9	2	0	-12	-3	-10	1	2	-9
Tax %	36.15%	36.44%	18.62%	-17.23%	17.90%	-6.54%	-0.00%	0.00%	95.92%	-0.00%
Net Profit	3	6	2	0	-10	-3	-10	1	0	-9
EPS	0.00	0.00	0.00	0.00	0.00	-2.16	-8.00	0.90	0.05	-7.25
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:: 7%
5 Years:: 5%
3 Years:: 21%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: -10%
3 Years:: -21%
1 Year:: -41%

RETURN ON EQUITY

10 Years:: -58%
5 Years:: -118%
3 Years:: -160%
Last Year:: -499%

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	5	12	13	13	13	13	13	13	13	13
	13	11	15	15	5	2	-8	-6	-6	-16
	9	11	9	19	17	19	20	21	24	34
Trade Payables	2	4	2	5	11	7	9	10	7	7
	5	7	6	7	5	6	8	9	4	4
Total Liabilities	34	46	44	58	51	47	42	46	42	43
	15	17	20	26	25	26	24	23	22	22
Capital Work in Progress	0	0	2	2	3	0	1	1	2	0
	2	2	3	7	7	3	7	9	9	10
	0	0	0	0	0	0	0	0	5	8
Cash & Bank	0	0	1	1	1	1	1	1	1	1
	16	26	19	23	16	17	9	13	4	2
Total Assets	34	46	44	58	51	47	42	46	42	43

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
	4	4	8	-1	4	-0	1	-0	2	-7
Cash from Investing	-1	-4	-5	-8	-2	0	-1	-1	-1	-1
Cash from Financing	-4	2	-1	9	-2	1	-1	1	-2	9
	-1	-0	1	-0	0	0	-0	0	-0	0

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 (₹)	69.84	4.97	1.38	0.05	-7.70	-2.16	-7.52	0.90	0.05	-7.25
Book Value (₹)	370.02	19.41	21.46	21.50	13.81	11.65	4.13	5.03	5.08	-2.17
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	3.65	5.91	2.38	1.32	-6.33	-0.75	-6.12	2.30	1.41	-5.80
PROFITABILITY
Operating Margin %	26.98%	29.26%	16.05%	8.63%	-29.88%	-0.84%	-29.75%	9.55%	11.03%	-16.11%
Net Margin %	12.10%	16.37%	6.82%	0.19%	-32.64%	-10.43%	-44.79%	2.63%	0.15%	-24.44%
ROE %	20.84%	29.06%	6.94%	0.23%	-43.60%	-16.97%	-95.27%	19.60%	0.95%	-499.06%
ROCE %	23.24%	31.84%	8.03%	2.72%	-24.74%	-3.37%	-23.27%	8.73%	10.10%	-22.89%
	10.81%	15.07%	3.93%	0.12%	-18.04%	-5.60%	-21.62%	2.60%	0.14%	-21.97%
EFFICIENCY
Debtor Days	80	118	169	120	126	119	95	33	49	64
Inventory Days	24	22	36	55	81	70	86	64	78	88
Payable Days	61	93	163	128	150	213	191	135	150	97
	43	47	42	47	57	-24	-10	-38	-23	55
FINANCIAL HEALTH
Debt to Equity (x)	0.59x	0.54x	0.35x	0.76x	1.11x	1.57x	4.62x	4.19x	4.03x	-12.98x
Interest Coverage (x)	5.38x	12.10x	3.81x	1.05x	-7.74x	-0.97x	-4.68x	1.71x	1.82x	-4.38x
	1.37x	1.40x	1.72x	1.58x	0.92x	1.11x	0.72x	0.86x	1.14x	0.90x
GROWTH
Revenue Growth %	38.13%	33.28%	-27.03%	26.60%	-6.85%	-12.18%	-18.97%	103.64%	-8.25%	-5.42%
Operating Profit Growth %	-1.19%	42.59%	-61.35%	-32.77%	-422.66%	97.54%	-2776.32%	165.35%	21.58%	-213.51%
Net Profit Growth %	-15.04%	77.91%	-70.62%	-96.49%	0.00%	71.94%	-248.05%	111.94%	-94.64%	0.00%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-94.64%	0.00%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	644.49x	0.00x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	6.11x	-12.09x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	12.88x	-11.99x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.64	69.95	66.83	66.83	66.83	66.83	66.83	66.83	71.73
FIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	25.36	30.05	33.17	33.17	33.17	33.17	33.17	33.17	28.27

Documents

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

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