Vipul Ltd

₹ 12.1 -2.03%

13 Mar - close price

About

Incorporated in 1991, Vipul Ltd is in the
business of Real Estate Development^[1]

Key Points

Business Overview:^[1]
Company is a part of the Vipul Group. Its projects include a range of residential, commercial, retail, integrated townships, and lifestyle gated communities, built in
partnership with contractors and consultants.
Company portfolio consists of over 10 million sq. ft. of delivered properties for over 7,000 customers in Gurugram and it has also undertaken projects in other key cities such as Bhubaneswar, Ludhiana, Dharuhera, Bawal, and Faridabad

Website BSE NSE - BE

Market Cap ₹ 170 Cr.
Current Price ₹ 12.1
High / Low ₹ 53.0 / 9.94
Stock P/E 0.80
Book Value ₹ 28.9
Dividend Yield 0.00 %
ROCE 69.8 %
ROE 105 %
Face Value ₹ 1.00

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Pros

Company has reduced debt.
Stock is trading at 0.42 times its book value
Company is expected to give good quarter
Company has delivered good profit growth of 179% CAGR over last 5 years

Cons

Promoter holding has decreased over last quarter: -10.7%
Promoter holding is low: 20.3%
Contingent liabilities of Rs.478 Cr.
Promoters have pledged 27.6% of their holding.
Earnings include an other income of Rs.222 Cr.
Company has high debtors of 533 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Realty Industry: Construction

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
	74.50	18.59	12.29	12.75	5.29	7.62	5.13	6.35	134.50	24.07	14.93	15.12	10.77
	70.32	24.66	18.15	14.70	10.11	67.81	11.40	10.11	56.00	11.37	11.67	9.91	8.31
Operating Profit	4.18	-6.07	-5.86	-1.95	-4.82	-60.19	-6.27	-3.76	78.50	12.70	3.26	5.21	2.46
OPM %	5.61%	-32.65%	-47.68%	-15.29%	-91.12%	-789.90%	-122.22%	-59.21%	58.36%	52.76%	21.84%	34.46%	22.84%
	1.56	4.81	-92.30	1.70	2.30	2.69	2.09	2.33	13.41	213.84	2.37	2.84	2.53
Interest	6.10	5.20	9.31	8.74	9.59	8.32	9.51	5.53	9.28	-4.00	3.13	5.70	0.31
Depreciation	0.13	0.08	0.10	0.09	0.11	0.10	0.08	0.13	0.16	0.14	0.18	0.17	0.17
Profit before tax	-0.49	-6.54	-107.57	-9.08	-12.22	-65.92	-13.77	-7.09	82.47	230.40	2.32	2.18	4.51
Tax %	-0.00%	-0.00%	-0.00%	-0.00%	-0.00%	-0.00%	-0.00%	-0.00%	22.13%	11.40%	-0.00%	-0.00%	-0.00%
	-0.49	-6.54	-107.58	-9.08	-12.21	-65.92	-13.77	-7.09	64.22	204.13	2.32	2.17	4.51
EPS in Rs	-0.04	-0.55	-8.97	-0.76	-1.02	-5.49	-1.15	-0.59	5.35	17.01	0.16	0.15	0.32
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	404	270	234	179	226	269	216	161	36	122	38	170	65
	367	249	223	166	206	238	187	187	88	143	111	89	41
Operating Profit	38	21	11	13	21	31	29	-26	-52	-20	-73	81	24
OPM %	9%	8%	5%	7%	9%	12%	13%	-16%	-145%	-17%	-192%	48%	36%
	2	4	2	11	5	7	5	24	11	9	-86	232	222
Interest	18	19	20	22	25	32	31	29	26	23	36	20	5
Depreciation	1	1	1	1	1	1	1	1	1	0	0	1	1
Profit before tax	21	4	-9	1	-0	6	2	-31	-67	-35	-195	292	239
Tax %	19%	25%	-25%	6%	152%	56%	6%	-12%	-26%	-20%	-0%	15%
	17	3	-7	1	-1	2	1	-27	-49	-28	-195	247	213
EPS in Rs	1.40	0.26	-0.55	0.10	-0.06	0.21	0.12	-2.29	-4.11	-2.32	-16.23	20.63	17.64
Dividend Payout %	11%	19%	-0%	-0%	-88%	24%	42%	-0%	-0%	-0%	-0%	-0%

Compounded Sales Growth
10 Years:	-5%
5 Years:	-5%
3 Years:	68%
TTM:	-58%

Compounded Profit Growth
10 Years:	50%
5 Years:	179%
3 Years:	86%
TTM:	1057%

Stock Price CAGR
10 Years:	-12%
5 Years:	-6%
3 Years:	-14%
1 Year:	-54%

Return on Equity
10 Years:	1%
5 Years:	2%
3 Years:	15%
Last Year:	105%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	12	12	12	12	12	12	12	12	12	12	12	12	14
Reserves	402	404	398	399	390	392	392	364	315	288	94	341	393
	140	133	229	295	432	638	624	616	607	576	239	173	96
	406	403	399	437	380	381	529	653	698	707	757	727	699
Total Liabilities	959	952	1,038	1,143	1,213	1,423	1,558	1,646	1,632	1,583	1,101	1,253	1,202
	11	9	8	8	8	7	7	4	4	3	3	4	3
CWIP	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Investments	15	24	24	24	24	24	24	24	24	24	11	11	11
	934	919	1,005	1,111	1,181	1,392	1,527	1,618	1,605	1,557	1,087	1,238	1,188
Total Assets	959	952	1,038	1,143	1,213	1,423	1,558	1,646	1,632	1,583	1,101	1,253	1,202

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	11	18	-73	-59	-108	-172	36	38	32	33	364	-86
	1	-6	1	10	2	5	4	7	12	10	9	207
	-30	-17	76	42	107	171	-48	-37	-35	-54	-375	-86
Net Cash Flow	-18	-4	4	-6	1	4	-8	9	9	-11	-2	35

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	92	154	212	405	297	295	557	868	3,394	964	1,197	533
Inventory Days	1,831	6,512								2,819
Days Payable	254	790								399
Cash Conversion Cycle	1,669	5,876	212	405	297	295	557	868	3,394	3,384	1,197	533
Working Capital Days	373	607	869	1,164	1,040	1,013	1,305	1,458	7,137	1,812	1,975	738
ROCE %	7%	5%	2%	3%	3%	4%	3%	-0%	-5%	-1%	-11%	70%

Shareholding Pattern

Numbers in percentages

14 Recently

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
	63.43%	63.43%	63.43%	63.43%	63.43%	63.43%	63.43%	63.43%	60.52%	51.51%	31.04%	20.33%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.19%	1.87%	7.23%	6.13%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.65%	0.52%	2.65%
	36.57%	36.57%	36.56%	36.57%	36.56%	36.57%	36.57%	36.58%	39.29%	43.96%	61.21%	70.89%
No. of Shareholders	6,655	6,463	7,323	7,203	6,928	6,792	7,239	7,743	8,976	9,324	21,072	27,918

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Dec 2024
	63.38%	63.38%	63.43%	63.43%	63.43%	63.43%	63.43%	60.52%	20.33%
	0.17%	0.00%	0.00%	2.21%	1.68%	0.00%	0.00%	0.19%	6.13%
	0.00%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.65%
	36.45%	36.61%	36.57%	34.36%	34.89%	36.57%	36.56%	39.29%	70.89%
No. of Shareholders	3,606	3,954	3,880	3,951	4,215	6,655	6,928	8,976	27,918

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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