Vigor Plast India Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹69 Cr
- P/E
- 7.00
- ROE
- 34.59%
- PEG
- 0.03
- Price to sales
- 0.95
- Debt to equity
- 0.16
- 52W high / low
- ₹117 / ₹45.9
- EBITDA margin
- 26.67%
- Net profit margin
- 13.91%
- Promoter holding
- 70.05%
- Sales (last year)
- ₹72 Cr
Incorporated in 2012, Vigor Plast India Limited is engaged in the manufacturing and supplying of CPVC and UPVC pipes and fittings.[1]
Potential multibaggers · Q2 FY27
Potential multibaggers in Industrial Products
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Peers
Industrial Products companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹448 Cr | 17.9 | |
| 2 | 40%+ | Up 2%+ | ₹413 Cr | 12.0 | |
| 3 | 40%+ | Up 2%+ | ₹324 Cr | 22.7 | |
| 4 | 40%+ | Up 0–2% | ₹1,496 Cr | 32.8 | |
| 5 | 40%+ | Up 0–2% | ₹1,079 Cr | 12.7 | |
| 6 | 40%+ | Flat | ₹827 Cr | 21.4 |
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Pro shows every company guiding 40%+ revenue growth →Full Industrial Products rankingFinancials of Vigor Plast
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Vigor Plast
Shareholding breakup across reporting periods.
| Sep 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|
| Promoters + | 70.05% | 70.05% | 70.05% |
| FIIs + | 6.18% | 2.86% | 2.24% |
| DIIs + | 4.05% | 4.51% | 2.52% |
| Public + | 19.72% | 22.58% | 25.19% |
| No. of Shareholders | 421 | 415 | 545 |
Financials of Vigor Plast
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Sales + | 10.96 | 11.09 | 11.72 | 11.36 | 16.89 | 16.88 | 20.72 | 17.49 | 15.22 |
| YoY Sales growth | +54.11% | +52.21% | +76.79% | +53.96% | -9.89% | ||||
| Expenses + | 8.27 | 8.25 | 8.42 | 7.86 | 11.88 | 12.15 | 15.69 | 13.06 | 10.65 |
| Operating Profit | 2.69 | 2.84 | 3.30 | 3.50 | 5.01 | 4.73 | 5.03 | 4.43 | 4.57 |
| OPM % | 24.54% | 25.61% | 28.16% | 30.81% | 29.66% | 28.02% | 24.28% | 25.33% | 30.03% |
| Other Income + | 0.02 | 0.03 | 0.31 | 0.01 | 0.00 | 0.02 | 0.02 | 0.00 | 0.00 |
| Interest | 0.43 | 0.43 | 0.53 | 0.43 | 0.45 | 0.25 | 0.25 | 0.24 | 0.25 |
| Depreciation | 0.98 | 0.77 | 1.18 | 0.91 | 1.31 | 1.32 | 1.22 | 1.12 | 1.30 |
| Profit before tax | 1.30 | 1.67 | 1.90 | 2.17 | 3.25 | 3.18 | 3.58 | 3.07 | 3.02 |
| Tax % | 24.62% | 23.95% | 24.74% | 23.96% | 25.85% | 29.87% | 20.67% | 25.08% | 25.17% |
| Net Profit + | 0.98 | 1.26 | 1.42 | 1.65 | 2.41 | 2.23 | 2.84 | 2.30 | 2.25 |
| EPS in Rs | 1.31 | 1.60 | 1.81 | 2.10 | 2.33 | 2.15 | 2.74 | 2.22 | 2.17 |
Financials of Vigor Plast
Profit & Loss
Annual income statement trend
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|
| Sales + | 32.32 | 37.28 | 42.48 | 45.58 | 65.85 | 70.31 |
| Sales growth | +15.35% | +13.95% | +7.30% | +44.47% | +37.70% | |
| Expenses + | 29.44 | 34.20 | 34.93 | 33.41 | 47.51 | 51.55 |
| Operating Profit | 2.88 | 3.08 | 7.55 | 12.17 | 18.34 | 18.76 |
| OPM % | 8.91% | 8.26% | 17.77% | 26.70% | 27.85% | 26.68% |
| Other Income + | 0.23 | 0.10 | 0.04 | 0.44 | -0.01 | 0.04 |
| Interest | 0.80 | 0.88 | 0.99 | 1.81 | 1.38 | 0.99 |
| Depreciation | 1.86 | 1.96 | 2.47 | 3.91 | 4.77 | 4.96 |
| Profit before tax | 0.45 | 0.34 | 4.13 | 6.89 | 12.18 | 12.85 |
| Tax % | 33.33% | 14.71% | 29.06% | 24.67% | 25.21% | |
| Net Profit + | 0.30 | 0.30 | 2.93 | 5.18 | 9.12 | 9.62 |
| EPS in Rs | 0.40 | 0.40 | 3.91 | 6.60 | 8.81 | 9.28 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials of Vigor Plast
Balance Sheet
Capital structure and asset base
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.50 | 0.50 | 0.50 | 7.85 | 10.35 | 10.35 |
| Reserves | 0.85 | 1.14 | 4.07 | 5.11 | 29.65 | 34.20 |
| Borrowings + | 12.67 | 11.29 | 21.56 | 17.72 | 6.53 | 9.36 |
| Other Liabilities + | 6.55 | 7.15 | 9.76 | 9.83 | 14.61 | 13.59 |
| Total Liabilities | 20.57 | 20.08 | 35.89 | 40.51 | 61.14 | 67.50 |
| Fixed Assets + | 10.28 | 10.67 | 15.75 | 27.85 | 30.02 | 33.36 |
| CWIP | 0.00 | 0.00 | 3.01 | 0.00 | 1.06 | 0.00 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Assets + | 10.29 | 9.41 | 17.13 | 12.66 | 30.06 | 34.14 |
| Total Assets | 20.57 | 20.08 | 35.89 | 40.51 | 61.14 | 67.50 |
Financials of Vigor Plast
Cash Flows
Operating, investing and financing cash movement
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Cash from Operating Activity + | -0.75 | 4.58 | 1.97 | 14.48 | 5.03 |
| Cash from Investing Activity + | -1.16 | -2.09 | -11.49 | -12.11 | -6.86 |
| Cash from Financing Activity + | 1.92 | -2.27 | 9.29 | -2.36 | 5.57 |
| Net Cash Flow | 0.01 | 0.22 | -0.23 | 0.00 | 3.73 |
| Free Cash Flow | -2.37 | 2.24 | -8.59 | 1.48 | -3.02 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | -26% | 153% | 39% | 133% | 45% |
Financials of Vigor Plast
Ratios
Working capital efficiency and return ratios
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 25.97 | 24.57 | 25.26 | 15.46 | 34.20 |
| Inventory Days | 79.87 | 56.24 | 107.88 | 115.24 | 157.31 |
| Days Payable | 82.88 | 76.89 | 87.50 | 93.61 | 94.51 |
| Cash Conversion Cycle | 22.96 | 3.93 | 45.64 | 37.09 | 97.00 |
| Working Capital Days | -68.21 | -73.43 | -45.37 | -51.65 | 50.22 |
| ROCE % | 9.05% | 26.22% | 30.63% | 35.25% |
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What Vigor Plast's management said in earlier quarters
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