Vipul Ltd

₹ 20.2 -2.04%

10 Jan - 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 ₹ 284 Cr.
Current Price ₹ 20.2
High / Low ₹ 53.0 / 15.0
Stock P/E 1.05
Book Value ₹ 28.9
Dividend Yield 0.00 %
ROCE 66.1 %
ROE 98.1 %
Face Value ₹ 1.00

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Pros

Company has reduced debt.
Stock is trading at 0.70 times its book value
Company has delivered good profit growth of 186% CAGR over last 5 years

Cons

Promoter holding has decreased over last quarter: -20.5%
Promoter holding is low: 31.0%
Contingent liabilities of Rs.481 Cr.
Earnings include an other income of Rs.231 Cr.
Company has high debtors of 439 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

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	17.00	76.70	26.65	13.74	46.78	6.28	8.11	6.11	7.47	157.14	35.77	15.86	15.70
	37.79	72.36	37.53	19.21	9.78	11.26	12.76	12.40	10.69	78.28	20.42	12.48	10.92
Operating Profit	-20.79	4.34	-10.88	-5.47	37.00	-4.98	-4.65	-6.29	-3.22	78.86	15.35	3.38	4.78
OPM %	-122.29%	5.66%	-40.83%	-39.81%	79.09%	-79.30%	-57.34%	-102.95%	-43.11%	50.18%	42.91%	21.31%	30.45%
	1.22	1.59	4.95	-92.28	1.87	2.33	3.69	2.11	2.34	13.54	211.31	2.73	3.20
Interest	7.13	7.57	7.37	10.54	10.68	10.57	6.28	10.51	6.57	10.26	-3.27	3.61	6.14
Depreciation	0.80	0.80	0.73	0.71	0.68	0.71	0.68	0.63	0.72	0.71	0.69	0.69	0.69
Profit before tax	-27.50	-2.44	-14.03	-109.00	27.51	-13.93	-7.92	-15.32	-8.17	81.43	229.24	1.81	1.15
Tax %	-21.27%	-22.13%	0.00%	0.13%	32.10%	-0.07%	-12.50%	0.00%	109.06%	22.41%	11.57%	0.00%	0.00%
	-21.65	-1.90	-14.03	-109.13	18.67	-13.92	-6.92	-15.31	-17.08	63.18	202.72	1.81	1.14
EPS in Rs	-1.80	-0.16	-1.17	-9.10	1.56	-1.16	-0.58	-1.28	-1.42	5.27	16.90	0.13	0.08
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	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
	413	261	234	185	232	284	226	176	37	138	75	206	224
	376	251	224	172	212	253	196	203	90	160	59	122	122
Operating Profit	38	10	10	13	20	31	30	-26	-53	-22	16	85	102
OPM %	9%	4%	4%	7%	9%	11%	13%	-15%	-141%	-16%	22%	41%	46%
	2	5	3	11	4	8	7	25	13	5	-85	229	231
Interest	18	19	26	33	34	36	33	32	30	29	38	24	17
Depreciation	1	1	1	2	6	6	5	4	4	3	3	3	3
Profit before tax	21	-6	-13	-11	-15	-3	-2	-38	-73	-49	-109	287	314
Tax %	37%	36%	-16%	-7%	-22%	45%	-170%	-10%	-24%	-14%	7%	19%
	13	-8	-11	-10	-12	-5	1	-34	-56	-42	-117	234	269
EPS in Rs	1.08	-0.66	-0.94	-0.82	-0.99	-0.40	0.10	-2.86	-4.63	-3.49	-9.78	19.46	22.38
Dividend Payout %	14%	-8%	0%	0%	-5%	-13%	49%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-2%
5 Years:	-2%
3 Years:	77%
TTM:	703%

Compounded Profit Growth
10 Years:	42%
5 Years:	186%
3 Years:	79%
TTM:	613%

Stock Price CAGR
10 Years:	-7%
5 Years:	1%
3 Years:	-5%
1 Year:	12%

Return on Equity
10 Years:	0%
5 Years:	4%
3 Years:	25%
Last Year:	98%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	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	388	379	368	358	346	354	354	315	260	219	103	340	394
	142	142	299	379	457	665	652	641	633	603	266	188	106
	656	678	658	709	688	687	851	935	984	1,011	1,009	716	694
Total Liabilities	1,198	1,211	1,337	1,458	1,503	1,717	1,869	1,903	1,889	1,845	1,390	1,255	1,208
	27	29	28	71	96	100	82	70	67	59	48	46	45
CWIP	18	23	44	28	10	11	11	12	12	12	12	12	13
Investments	10	12	13	13	3	7	7	7	7	6	6	6	6
	1,144	1,147	1,252	1,345	1,394	1,599	1,770	1,814	1,804	1,768	1,324	1,190	1,144
Total Assets	1,198	1,211	1,337	1,458	1,503	1,717	1,869	1,903	1,889	1,845	1,390	1,255	1,208

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	32	30	-109	-46	-56	-166	-3	116	258	17	421	-112
	-10	-7	-20	-18	-2	4	21	7	16	16	9	207
	-30	-22	131	46	50	165	-26	-115	-265	-43	-357	-138
Net Cash Flow	-8	1	1	-18	-8	4	-8	9	9	-10	73	-43

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	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	91	160	212	391	290	280	532	792	3,254	855	608	439
Inventory Days	3,306									4,824		6,783
Days Payable	247									421		846
Cash Conversion Cycle	3,150	160	212	391	290	280	532	792	3,254	5,258	608	6,377
Working Capital Days	307	535	808	1,045	811	883	1,159	1,266	6,590	1,528	1,093	610
ROCE %	7%	3%	2%	3%	2%	4%	3%	-2%	-5%	-2%	4%	66%

Shareholding Pattern

Numbers in percentages

32 Recently

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	63.43%	63.43%	63.43%	63.43%	63.43%	63.43%	63.43%	63.43%	63.43%	60.52%	51.51%	31.04%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.19%	1.87%	7.23%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.65%	0.52%
	36.57%	36.57%	36.57%	36.56%	36.57%	36.56%	36.57%	36.57%	36.58%	39.29%	43.96%	61.21%
No. of Shareholders	5,377	6,655	6,463	7,323	7,203	6,928	6,792	7,239	7,743	8,976	9,324	21,072

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	63.38%	63.38%	63.43%	63.43%	63.43%	63.43%	63.43%	60.52%	31.04%
	0.17%	0.00%	0.00%	2.21%	1.68%	0.00%	0.00%	0.19%	7.23%
	0.00%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.52%
	36.45%	36.61%	36.57%	34.36%	34.89%	36.57%	36.56%	39.29%	61.21%
No. of Shareholders	3,606	3,954	3,880	3,951	4,215	6,655	6,928	8,976	21,072

* 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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