Vipul Share Price & Earnings Call Analysis
- Market cap
- ₹131 Cr
- ROE
- -4.08%
- Price to sales
- 1.96
- Debt to equity
- 0.21
- 52W high / low
- ₹17.8 / ₹7.46
- Sales growth (5Y)
- 9.87%
- EBITDA margin
- -66.04%
- Net profit margin
- -25.46%
- Promoter holding
- 18.25%
- Sales (last year)
- ₹67 Cr
Potential multibaggers · Q2 FY27
This quarter's potential multibaggers
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Vipul latest results (Sep 2026)
Revenue
₹9 Cr
+13.58% YoY
Net profit
₹-2 Cr
-123% YoY
Operating margin
-62.9%
EPS
₹-0.12
Vipul shareholding (Sep 2026)
Promoters
18.25%
unchanged QoQ
FIIs
7.23%
−3.19 pp QoQ
DIIs
1.39%
−1.26 pp QoQ
Public
73.14%
+4.45 pp QoQ
Financials of Vipul Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Vipul Ltd
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 63.43% | 60.52% | 51.51% | 31.04% | 20.33% | 18.25% | 18.25% | 18.25% | 18.25% | 18.25% | 18.25% | 18.25% |
| FIIs + | 0.00% | 0.19% | 1.87% | 7.23% | 6.13% | 7.25% | 9.65% | 8.81% | 11.27% | 13.20% | 10.42% | 7.23% |
| DIIs + | 0.00% | 0.00% | 2.65% | 0.52% | 2.65% | 0.63% | 0.63% | 0.44% | 1.48% | 1.66% | 2.65% | 1.39% |
| Public + | 36.58% | 39.29% | 43.96% | 61.21% | 70.89% | 73.88% | 71.49% | 72.49% | 68.99% | 66.89% | 68.69% | 73.14% |
| No. of Shareholders | 7,743 | 8,976 | 9,324 | 21,072 | 27,918 | 30,815 | 30,928 | 30,763 | 29,970 | 28,236 | 27,971 | 27,396 |
Financials of Vipul Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 7.47 | 157.14 | 35.77 | 15.86 | 15.70 | 11.26 | 44.26 | 1.69 | 7.95 | 9.19 | 40.75 | 7.72 | 9.03 |
| YoY Sales growth | -84.03% | +2,402.23% | +341.06% | +159.57% | +110.17% | -92.83% | +23.73% | -89.34% | -49.36% | -18.38% | -7.93% | +356.80% | +13.58% |
| Expenses + | 10.69 | 78.28 | 20.42 | 12.48 | 10.92 | 9.03 | 67.66 | 14.28 | 11.06 | 10.53 | 58.74 | 26.75 | 14.71 |
| Operating Profit | -3.22 | 78.86 | 15.35 | 3.38 | 4.78 | 2.23 | -23.40 | -12.59 | -3.11 | -1.34 | -17.99 | -19.03 | -5.68 |
| OPM % | -43.11% | 50.18% | 42.91% | 21.31% | 30.45% | 19.80% | -52.87% | -744.97% | -39.12% | -14.58% | -44.15% | -246.50% | -62.90% |
| Other Income + | 2.34 | 13.54 | 211.31 | 2.73 | 3.20 | 2.87 | 2.29 | 11.81 | 10.74 | 3.24 | 10.64 | 20.13 | 4.97 |
| Interest | 6.57 | 10.26 | -3.27 | 3.61 | 6.14 | 0.68 | 13.07 | 0.52 | 0.28 | 0.43 | 6.41 | 1.59 | 0.64 |
| Depreciation | 0.72 | 0.71 | 0.69 | 0.69 | 0.69 | 0.69 | 0.74 | 0.12 | 0.12 | 0.26 | 0.35 | 0.28 | 0.29 |
| Profit before tax | -8.17 | 81.43 | 229.24 | 1.81 | 1.15 | 3.73 | -34.92 | -1.42 | 7.23 | 1.21 | -14.11 | -0.77 | -1.64 |
| Tax % | 109.06% | 22.41% | 11.57% | 0.00% | 0.00% | 0.00% | 0.09% | 0.00% | 0.00% | 0.00% | 9.50% | 0.00% | 0.00% |
| Net Profit + | -17.08 | 63.18 | 202.72 | 1.81 | 1.14 | 3.73 | -34.95 | -1.42 | 7.24 | 1.21 | -15.45 | -0.77 | -1.64 |
| EPS in Rs | -1.42 | 5.27 | 16.90 | 0.13 | 0.08 | 0.26 | -2.48 | -0.10 | 0.51 | 0.09 | -1.10 | -0.05 | -0.12 |
Financials of Vipul Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 234 | 185 | 232 | 284 | 226 | 176 | 37 | 138 | 75 | 206 | 87 | 60 | 67 |
| Sales growth | -10% | -21% | +26% | +22% | -20% | -22% | -79% | +271% | -46% | +176% | -58% | -32% | +2% |
| Expenses + | 224 | 172 | 212 | 253 | 196 | 203 | 90 | 160 | 59 | 122 | 100 | 92 | 111 |
| Operating Profit | 10 | 13 | 20 | 31 | 30 | -26 | -53 | -22 | 16 | 85 | -13 | -33 | -44 |
| OPM % | 4.5% | 7% | 9% | 11% | 13% | -15% | -141% | -16% | 22% | 41% | -15% | -55% | -66% |
| Other Income + | 3 | 11 | 4 | 8 | 7 | 25 | 13 | 5 | -85 | 229 | 11 | 34 | 39 |
| Interest | 26 | 33 | 34 | 36 | 33 | 32 | 30 | 29 | 38 | 24 | 24 | 8 | 9 |
| Depreciation | 1 | 2 | 6 | 6 | 5 | 4 | 4 | 3 | 3 | 3 | 3 | 1 | 1 |
| Profit before tax | -13 | -11 | -15 | -3 | -2 | -38 | -73 | -49 | -109 | 287 | -28 | -7 | -15 |
| Tax % | -16% | -7% | -22% | 45% | -170% | -10% | -24% | -14% | 7% | 19% | 0% | 19% | |
| Net Profit + | -11 | -10 | -12 | -5 | 1 | -34 | -56 | -42 | -117 | 234 | -28 | -8 | -17 |
| EPS in Rs | -0.94 | -0.82 | -0.99 | -0.40 | 0.10 | -2.86 | -4.63 | -3.49 | -9.78 | 19.46 | -2.01 | -0.60 | -1.18 |
| Dividend Payout % | 0% | 0% | -5% | -13% | 49% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Vipul Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 14 | 14 | 14 |
| Reserves | 368 | 358 | 346 | 354 | 354 | 315 | 260 | 219 | 103 | 340 | 363 | 352 | 350 |
| Borrowings + | 299 | 379 | 457 | 665 | 652 | 641 | 633 | 603 | 266 | 188 | 85 | 82 | 76 |
| Other Liabilities + | 658 | 709 | 688 | 687 | 851 | 935 | 984 | 1,011 | 1,009 | 716 | 728 | 668 | 673 |
| Total Liabilities | 1,337 | 1,458 | 1,503 | 1,717 | 1,869 | 1,903 | 1,889 | 1,845 | 1,390 | 1,255 | 1,190 | 1,116 | 1,112 |
| Fixed Assets + | 28 | 71 | 96 | 100 | 82 | 70 | 67 | 59 | 48 | 46 | 52 | 5 | 3 |
| CWIP | 44 | 28 | 10 | 11 | 11 | 12 | 12 | 12 | 12 | 12 | 5 | 5 | 5 |
| Investments | 13 | 13 | 3 | 7 | 7 | 7 | 7 | 6 | 6 | 6 | 2 | 2 | 2 |
| Other Assets + | 1,252 | 1,345 | 1,394 | 1,599 | 1,770 | 1,814 | 1,804 | 1,768 | 1,324 | 1,190 | 1,130 | 1,103 | 1,102 |
| Total Assets | 1,337 | 1,458 | 1,503 | 1,717 | 1,869 | 1,903 | 1,889 | 1,845 | 1,390 | 1,255 | 1,190 | 1,116 | 1,112 |
Financials of Vipul Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | -109 | -46 | -56 | -166 | -3 | 116 | 258 | 17 | 421 | -112 | 43 | -31 |
| Cash from Investing Activity + | -20 | -18 | -2 | 4 | 21 | 7 | 16 | 16 | 9 | 207 | 12 | 9 |
| Cash from Financing Activity + | 131 | 46 | 50 | 165 | -26 | -115 | -265 | -43 | -357 | -138 | -77 | 10 |
| Net Cash Flow | 1 | -18 | -8 | 4 | -8 | 9 | 9 | -10 | 73 | -43 | -22 | -12 |
| Free Cash Flow | -131 | -75 | -62 | -167 | 6 | 118 | 259 | 18 | 421 | -105 | 42 | -34 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | -965% | -337% | -260% | -558% | 14% | -455% | -490% | -87% | 2,620% | -105% | -319% | 161% |
Financials of Vipul Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 212 | 391 | 290 | 280 | 532 | 792 | 3,254 | 855 | 608 | 439 | 1,142 | 1,653 |
| Inventory Days | 4,824 | 6,783 | 10,793 | |||||||||
| Days Payable | 421 | 846 | 1,126 | |||||||||
| Cash Conversion Cycle | 212 | 391 | 290 | 280 | 532 | 792 | 3,254 | 5,258 | 608 | 6,377 | 1,142 | 11,320 |
| Working Capital Days | 643 | 860 | 627 | 730 | 958 | 1,002 | 1,375 | 213 | 141 | 292 | 856 | 1,657 |
| ROCE % | 2% | 3% | 2% | 4% | 3% | -2% | -5% | -2% | 4% | 66% | -1% | -1% |
Vipul: frequently asked questions
What is Vipul share price today?
Vipul last traded at ₹9.33, with a market capitalisation of ₹131 Cr.
What were Vipul's latest quarterly results?
For the quarter ended Sep 2026, Vipul reported revenue of ₹9 Cr (+13.58% year on year) and net profit of ₹-2 Cr, with an operating margin of -62.9%.
Is Vipul's profit growing?
Net profit was ₹-2 Cr in Sep 2026 against ₹7 Cr in Sep 2025, a change of -123%.
What is Vipul's EPS?
Vipul's earnings per share for the quarter ended Sep 2026 was ₹-0.12.
What is the promoter holding in Vipul?
Promoters held 18.25% of Vipul in Sep 2026 (unchanged versus Jun 2026).
How much do FIIs and DIIs hold in Vipul?
In Sep 2026, foreign institutional investors held 7.23% and domestic institutions (including mutual funds) held 1.39% of Vipul.
What is Vipul's ROE and ROCE?
Vipul's return on equity is -4.08% and its return on capital employed is -1.12%.
Does Vipul pay a dividend?
Vipul's dividend yield is 0% at the current price; see the Vipul dividends page for past payouts.
How does Arthneeti AI analyse Vipul?
Arthneeti reads Vipul's earnings call transcripts and filings and scores revenue growth, margins, capex and fundraising, then ranks the company against its sector.