Visaka Industries Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹728 Cr
- P/E
- 10.78
- ROE
- 5.03%
- PEG
- -0.95
- Price to sales
- 0.42
- Debt to equity
- 0.36
- 52W high / low
- ₹104 / ₹51.5
- Sales growth (5Y)
- 7.89%
- EBITDA margin
- 10.13%
- Net profit margin
- 2.38%
- Promoter holding
- 53.48%
- Sales (last year)
- ₹1,759 Cr
Incorporated in 1981, Visaka Industries Ltd manufactures cement fibre sheets, fibre cement boards & panels, solarpanels and synthetic yarn[1]
Guidance scorecard · Q2 FY27 call
What Visaka Industrie's management guided
and where it ranks in Cement & Cement Products
RevenueQ1 FY24 call
20–40%- Vnext division is expected to grow at around 25% year-on-year in the near term, with potential to double revenues over the next 5 to 7 years.
- Vnext turnover targeted to reach Rs. 1,000 crores by 2030 from around Rs. 450 crores in 2024.
- Roofing segment expected to maintain steady volumes with a possible industry growth of 3% to 5%, focusing on rural market expansion.
- Synthetic yarn business capacity utilization stood at 88%, with outlook stabilizing in 6-8 months; good growth potential in exports noted.
2 more points from Visaka Industrie's call on revenue
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MarginsQ1 FY24 call
FlatSee what Visaka Industrie said on margins — free account, 30 seconds.
CapexQ1 FY24 call
Planned- Plans for expansion into R&D to develop new utilities, details to be shared shortly (G. Vamsi Krishna).
- Investment around Rs. 75-80 crores for land and Rs. 80-100 crores expected for the new West Bengal plant (Satish Kumar, G. Vamsi Krishna).
- Additional plant opening soon in Midnapore to improve Vnext division’s capacity and distribution.
- Planned investments mainly focused on the Vnext business for rapid growth and product acceptance.
- Smaller investments expected in the textile segment based on market conditions.
- No current major CAPEX planned in the roofing segment.
2 more points from Visaka Industrie's call on capex
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FundraisingQ1 FY24 call
See what Visaka Industrie said on fundraising — free account, 30 seconds.
Order bookQ1 FY24 call
- Vnext division capacity utilization was around 88% to 90% in Q1 FY24.
- Demand for Vnext products is very good with a bullish outlook of approximately 25% to 30% growth rate.
- New plant coming up at Midnapore will improve distribution costs and capacity utilization.
- Vnext business expects to achieve good numbers, indicating healthy order inflow and backlog.
- Roofing business maintains highest volumes with capacity utilization over 100%, reflecting strong order execution.
2 more points from Visaka Industrie's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Cement & Cement Products
on management's own guidance
- J K CementsGood growth2
- Strong growth1
- ACCGood growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Visaka Industries latest results (Sep 2026)
Revenue
₹399 Cr
+23% YoY
Net profit
₹66 Cr
Operating margin
9%
EPS
₹7.68
Visaka Industries shareholding (Sep 2026)
Promoters
53.48%
+0.08 pp QoQ
FIIs
0.82%
+0.79 pp QoQ
DIIs
0.01%
−0.01 pp QoQ
Public
45.54%
−0.87 pp QoQ
Peers
Cement & Cement Products companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Flat | ₹2.18L Cr | 38.1 | |
| 2 | J K Cements | 20–40% | Flat | ₹40,347 Cr | 40.8 |
| 3 | ACC | 20–40% | Flat | ₹23,420 Cr | 25.5 |
| 4 | 20–40% | Flat | ₹2,609 Cr | 13.3 | |
| 5 | 10–20% | Up 2%+ | ₹1,289 Cr | — | |
| 6 | 10–20% | Flat | ₹3.68L Cr | 41.4 |
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Pro shows every company guiding 40%+ revenue growth →Full Cement & Cement Products rankingFinancials of Visaka Industrie
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Visaka Industrie
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 + | 48.42% | 48.42% | 48.42% | 48.42% | 48.42% | 48.42% | 48.42% | 53.24% | 53.24% | 53.24% | 53.40% | 53.48% |
| FIIs + | 0.33% | 0.71% | 0.31% | 0.38% | 0.35% | 0.46% | 0.14% | 0.18% | 0.13% | 0.10% | 0.03% | 0.82% |
| DIIs + | 0.02% | 0.30% | 0.01% | 0.02% | 0.06% | 0.06% | 0.09% | 0.02% | 0.02% | 0.02% | 0.02% | 0.01% |
| Government + | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.13% | 0.13% | 0.13% | 0.13% |
| Public + | 51.23% | 50.57% | 51.25% | 51.17% | 51.16% | 51.07% | 51.34% | 46.53% | 46.47% | 46.49% | 46.41% | 45.54% |
| No. of Shareholders | 43,774 | 51,717 | 51,163 | 51,313 | 51,478 | 51,005 | 50,284 | 48,754 | 47,615 | 46,306 | 45,554 | 44,272 |
Financials of Visaka Industrie
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 + | 340 | 343 | 391 | 456 | 307 | 351 | 426 | 505 | 324 | 367 | 479 | 589 | 399 |
| YoY Sales growth | -6% | -3% | -13% | +2% | -10% | +2% | +9% | +11% | +5% | +5% | +13% | +17% | +23% |
| Expenses + | 326 | 329 | 367 | 417 | 304 | 339 | 380 | 454 | 312 | 341 | 428 | 501 | 361 |
| Operating Profit | 13 | 14 | 25 | 39 | 4 | 12 | 46 | 51 | 12 | 26 | 52 | 88 | 38 |
| OPM % | 3.9% | 4.0% | 6% | 9% | 1.2% | 3.3% | 11% | 10% | 3.7% | 7% | 11% | 15% | 9% |
| Other Income + | 2 | 2 | 4 | 2 | 2 | 2 | 3 | 38 | 1 | 2 | 25 | 2 | 65 |
| Interest | 8 | 10 | 9 | 11 | 11 | 11 | 11 | 9 | 8 | 8 | 8 | 6 | 5 |
| Depreciation | 14 | 14 | 17 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 17 | 17 | 17 |
| Profit before tax | -6 | -8 | 3 | 14 | -21 | -14 | 22 | 65 | -11 | 4 | 52 | 68 | 81 |
| Tax % | -22% | -22% | 30% | 27% | -25% | -24% | 27% | 19% | -23% | 28% | 21% | 26% | 18% |
| Net Profit + | -5 | -7 | 2 | 10 | -16 | -10 | 16 | 52 | -8 | 3 | 41 | 50 | 66 |
| EPS in Rs | -0.57 | -0.77 | 0.21 | 1.21 | -1.86 | -1.19 | 1.86 | 6.06 | -0.95 | 0.32 | 4.74 | 5.79 | 7.68 |
Financials of Visaka Industrie
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 + | 1,021 | 1,005 | 961 | 1,012 | 1,136 | 1,050 | 1,146 | 1,416 | 1,647 | 1,521 | 1,541 | 1,676 | 1,834 |
| Sales growth | +14% | -2% | -4% | +5% | +12% | -8% | +9% | +24% | +16% | -8% | +1% | +9% | +14% |
| Expenses + | 925 | 910 | 843 | 862 | 993 | 942 | 953 | 1,216 | 1,507 | 1,433 | 1,440 | 1,534 | 1,630 |
| Operating Profit | 96 | 95 | 117 | 150 | 144 | 109 | 193 | 200 | 139 | 88 | 101 | 141 | 204 |
| OPM % | 9% | 9% | 12% | 15% | 13% | 10% | 17% | 14% | 8% | 6% | 7% | 8% | 11% |
| Other Income + | 2 | 3 | 6 | 5 | 12 | 7 | 9 | 10 | 8 | 11 | 8 | 67 | 94 |
| Interest | 22 | 21 | 20 | 18 | 20 | 17 | 13 | 12 | 22 | 36 | 44 | 33 | 27 |
| Depreciation | 43 | 36 | 34 | 35 | 35 | 41 | 40 | 38 | 50 | 58 | 63 | 65 | 66 |
| Profit before tax | 33 | 40 | 69 | 102 | 100 | 57 | 149 | 161 | 74 | 4 | 1 | 110 | 204 |
| Tax % | 36% | 39% | 38% | 35% | 33% | 14% | 26% | 26% | 26% | 44% | 89% | 20% | |
| Net Profit + | 21 | 24 | 43 | 67 | 67 | 49 | 111 | 119 | 55 | 3 | 0 | 88 | 160 |
| EPS in Rs | 2.68 | 3.08 | 5.39 | 8.38 | 8.49 | 6.21 | 13.43 | 13.72 | 6.34 | 0.29 | 0.02 | 10.16 | 18.53 |
| Dividend Payout % | 37% | 33% | 22% | 17% | 17% | 48% | 22% | 22% | 32% | 171% | 3,093% | 12% |
Financials of Visaka Industrie
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 | 16 | 16 | 16 | 16 | 16 | 16 | 17 | 17 | 17 | 17 | 17 | 17 | 17 |
| Reserves | 316 | 331 | 377 | 430 | 484 | 489 | 610 | 715 | 756 | 738 | 733 | 818 | 915 |
| Borrowings + | 304 | 321 | 213 | 241 | 246 | 263 | 115 | 167 | 388 | 535 | 479 | 303 | 238 |
| Other Liabilities + | 154 | 151 | 155 | 198 | 180 | 176 | 206 | 209 | 210 | 202 | 199 | 219 | 243 |
| Total Liabilities | 790 | 819 | 760 | 885 | 926 | 944 | 949 | 1,108 | 1,371 | 1,493 | 1,429 | 1,358 | 1,413 |
| Fixed Assets + | 312 | 294 | 327 | 322 | 419 | 406 | 396 | 461 | 615 | 738 | 711 | 677 | 655 |
| CWIP | 0 | 4 | 12 | 69 | 1 | 9 | 5 | 49 | 36 | 28 | 10 | 5 | 26 |
| Investments | 15 | 10 | 0 | 0 | 0 | 0 | 0 | 2 | 12 | 14 | 14 | 14 | 9 |
| Other Assets + | 463 | 511 | 422 | 494 | 506 | 529 | 547 | 597 | 708 | 712 | 694 | 662 | 723 |
| Total Assets | 790 | 819 | 760 | 885 | 926 | 944 | 949 | 1,108 | 1,371 | 1,493 | 1,429 | 1,358 | 1,413 |
Financials of Visaka Industrie
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 + | 8 | 89 | 153 | 88 | 71 | 74 | 294 | 55 | 30 | 5 | 119 | 183 |
| Cash from Investing Activity + | -21 | -28 | -62 | -105 | -49 | -34 | -54 | -173 | -214 | -91 | -39 | 36 |
| Cash from Financing Activity + | 16 | -14 | -128 | 1 | -26 | -40 | -146 | 30 | 188 | 93 | -100 | -210 |
| Net Cash Flow | 2 | 47 | -37 | -16 | -3 | -0 | 95 | -87 | 4 | 7 | -19 | 9 |
| Free Cash Flow | -14 | 61 | 90 | -17 | 22 | 37 | 240 | -90 | -186 | -113 | 92 | 176 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 13% | 117% | 151% | 79% | 76% | 83% | 168% | 49% | 38% | 10% | 117% | 139% |
Financials of Visaka Industrie
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 | 46 | 53 | 57 | 54 | 50 | 49 | 33 | 35 | 30 | 33 | 44 | 35 |
| Inventory Days | 158 | 148 | 144 | 179 | 180 | 216 | 174 | 159 | 158 | 188 | 158 | 146 |
| Days Payable | 37 | 40 | 41 | 73 | 52 | 61 | 65 | 47 | 38 | 39 | 36 | 37 |
| Cash Conversion Cycle | 167 | 162 | 160 | 161 | 178 | 204 | 142 | 147 | 150 | 182 | 166 | 144 |
| Working Capital Days | 28 | 4 | 36 | 38 | 46 | 54 | 49 | 53 | 40 | 31 | 36 | 46 |
| ROCE % | 9% | 9% | 14% | 18% | 17% | 10% | 21% | 21% | 10% | 3% | 4% | 7% |
Guidance history
How Visaka Industrie's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY24 call → | 20–40% | Flat | Planned | — | — |
| Q2 FY23 call → | 20–40% | Flat | Planned | Planned | Rising |
| Q1 FY23 call → | 20–40% | Flat | Planned | — | — |
| Q4 FY22 call → | 10–20% | Flat | Planned | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
29 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,937 stocks |
|---|---|---|
| Last 12 months | +15.0% | 67% |
| Last 6 months | +13.5% | 64% |
| Last 3 months | −9.9% | 31% |
The price is 50.3% below its all-time high of ₹173.15 (9 Feb 2024). Stocks more than 20% below their peak have their score halved, so 59 became 29.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,937 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Visaka Industrie: 0.4 × 67 + 0.4 × 64 + 0.2 × 31 = 59, halved to 29 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 13 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Visaka Industries: frequently asked questions
What is Visaka Industries share price today?
Visaka Industries last traded at ₹86.02, with a market capitalisation of ₹728 Cr and a P/E ratio of 10.8.
What were Visaka Industries's latest quarterly results?
For the quarter ended Sep 2026, Visaka Industries reported revenue of ₹399 Cr (+23% year on year) and net profit of ₹66 Cr, with an operating margin of 9%.
Is Visaka Industries's profit growing?
Net profit was ₹66 Cr in Sep 2026 against ₹-8 Cr in Sep 2025.
What is Visaka Industries's EPS?
Visaka Industries's earnings per share for the quarter ended Sep 2026 was ₹7.68.
What is the promoter holding in Visaka Industries?
Promoters held 53.48% of Visaka Industries in Sep 2026 (+0.08 pp versus Jun 2026).
How much do FIIs and DIIs hold in Visaka Industries?
In Sep 2026, foreign institutional investors held 0.82% and domestic institutions (including mutual funds) held 0.01% of Visaka Industries.
What is Visaka Industries's ROE and ROCE?
Visaka Industries's return on equity is 5.03% and its return on capital employed is 7.03%.
Does Visaka Industries pay a dividend?
Yes. Visaka Industries's dividend yield is 1.4% at the current price. The full payout history is on the Visaka Industries dividends page.
Which sector does Visaka Industries belong to?
Visaka Industries is in the Cement & Cement Products sector. Its peer comparison and sector ranking are on this page.
What did Visaka Industries's management say on the latest earnings call?
Arthneeti's analysis of the Q2 FY27 earnings call covers revenue, margins, capex and fundraising guidance from Visaka Industries's management.
How does Arthneeti AI analyse Visaka Industries?
Arthneeti reads Visaka Industries's earnings call transcripts and filings and scores revenue growth, margins, capex and fundraising, then ranks the company against its sector.
Continue your research
What Visaka Industrie's management said in earlier quarters
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