Vesuvius India Ltd Q4 FY26 Share Price & Earnings Call Analysis

Management guidance · Q4 FY26 call

Vesuvius India Ltd ranks #94 of 130 in Industrial Products on what management guided

Revenue: Rank 3Margin: Rank 3

Leading Industrial Products companies on guidance

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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Financials of Vesuvius India Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Vesuvius India Ltd

Quarterly Results

Quarter-by-quarter operating performance

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Sales +	368	405	413	417	453	462	444	509	482	524	547	551	500
Expenses +	313	335	331	337	358	371	365	427	399	433	455	457	416
Operating Profit	55	70	82	80	95	92	79	82	83	91	92	94	84
OPM %	15%	17%	20%	19%	21%	20%	18%	16%	17%	17%	17%	17%	17%
Other Income +	11	8	8	7	8	10	23	7	10	8	7	34	9
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	8	8	9	11	10	11	12	13	13	15	17	17	17
Profit before tax	58	70	81	76	92	90	90	76	80	85	83	109	75
Tax %	25%	25%	25%	25%	25%	26%	24%	22%	26%	26%	26%	27%	26%
Net Profit +	43	52	60	57	69	67	68	60	59	63	62	80	56
EPS in Rs	2.14	2.57	2.97	2.81	3.39	3.32	3.37	2.95	2.92	3.10	3.03	3.95	2.75

Financials of Vesuvius India Ltd

Profit & Loss

Annual income statement trend

	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025	TTM
Sales +	652	700	822	911	925	887	792	1,047	1,343	1,603	1,869	2,104	2,122
Expenses +	552	574	670	745	777	766	714	947	1,178	1,314	1,518	1,743	1,761
Operating Profit	101	126	152	167	148	121	77	100	165	289	350	361	361
OPM %	15%	18%	18%	18%	16%	14%	10%	10%	12%	18%	19%	17%	17%
Other Income +	9	10	13	9	23	29	21	20	23	35	48	59	58
Interest	0	1	1	1	1	1	1	1	1	2	4	2	1
Depreciation	19	23	27	30	28	27	26	27	30	36	46	62	66
Profit before tax	90	112	136	145	142	123	72	92	157	285	349	356	352
Tax %	34%	35%	35%	35%	35%	31%	26%	26%	26%	25%	24%	26%
Net Profit +	59	74	89	94	93	86	53	68	117	213	265	264	261
EPS in Rs	2.91	3.63	4.38	4.65	4.56	4.21	2.61	3.35	5.75	10.49	13.03	13.01	12.83
Dividend Payout %	24%	17%	15%	15%	15%	21%	27%	24%	14%	12%	11%	12%

Financials of Vesuvius India Ltd

Balance Sheet

Capital structure and asset base

	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Equity Capital	20	20	20	20	20	20	20	20	20	20	20	20
Reserves	419	477	562	641	717	784	822	876	977	1,173	1,411	1,644
Borrowings +	0	0	0	0	0	0	0	0	0	13	13	14
Other Liabilities +	139	147	161	193	188	177	216	292	333	382	402	472
Total Liabilities	578	644	743	854	925	981	1,058	1,188	1,331	1,589	1,847	2,150
Fixed Assets +	132	131	124	113	121	124	120	116	194	316	434	622
CWIP	20	14	16	38	26	28	21	27	38	86	196	52
Investments	0	0	0	0	0	0	0	0	0	0	0	0
Other Assets +	426	499	603	703	779	829	917	1,045	1,098	1,187	1,217	1,476
Total Assets	578	644	743	854	925	981	1,058	1,188	1,331	1,589	1,847	2,150

Financials of Vesuvius India Ltd

Cash Flows

Operating, investing and financing cash movement

	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operating Activity +	65	54	50	191	95	74	102	27	128	82	258	177
Cash from Investing Activity +	-28	-21	21	2	-310	297	-503	-39	-6	-37	-233	-18
Cash from Financing Activity +	-14	-15	-15	-16	-17	-17	-14	-14	-16	-18	-27	-30
Net Cash Flow	23	18	56	177	-231	354	-415	-26	106	28	-1	130
Free Cash Flow	43	23	29	151	70	43	87	-5	16	-117	16	102
CFO/OP	98%	75%	68%	149%	99%	93%	158%	54%	108%	52%	93%	78%

Financials of Vesuvius India Ltd

Ratios

Working capital efficiency and return ratios

	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Debtor Days	105	118	119	88	72	77	75	57	57	74	75	84
Inventory Days	69	68	77	69	84	77	91	124	92	105	87	92
Days Payable	87	97	98	111	98	89	122	130	112	118	104	114
Cash Conversion Cycle	87	90	98	46	58	65	44	52	38	60	58	62
Working Capital Days	82	91	102	59	58	63	51	55	41	65	62	69
ROCE %	22%	24%	25%	24%	20%	16%	9%	11%	17%	26%	25%	21%

What Vesuvius India Ltd's management said in earlier quarters

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