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Last Updated: April 2, 2026, 3:55 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 511726 | NSE: VIPULLTD

Vipul Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹26.57Undervalued by 155.48%vs CMP ₹10.40

P/E (15.0) × ROE (7.4%) × BV (₹29.30) × DY (2.00%)

Defaults: P/E=15

₹26.23Undervalued by 152.21%vs CMP ₹10.40
MoS: +60.4% (Strong)Confidence: 39/100 (Low)Models: 2 Under, 1 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹31.9449%Under (+207.1%)
Net Asset ValueAssets₹29.4229%Under (+182.9%)
Revenue MultipleRevenue₹9.3022%Over (-10.6%)
Consensus (3 models)₹26.23100%Undervalued

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 20.2% · Defaults: P/E=15

*Investments are subject to market risks

Investment Snapshot

40
Vipul Ltd scores 40/100 (Weak)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health40/100 · Moderate
ROCE 0.4% WeakROE 7.4% AverageD/E 0.83 ModerateInterest Coverage 0.0x RiskyProfitable 1/5 years Inconsistent
Smart Money85/100 · Strong
FII holding up 4.02% (6mo) AccumulatingDII holding up 0.85% MF buyingPromoter holding at 18.3% Stable
Earnings Quality55/100 · Moderate
OPM expanding (3% → 14%) ImprovingWorking capital: 855 days Capital intensive
Quarterly Momentum15/100 · Weak
Revenue (4Q): -20% YoY DecliningProfit (4Q): -113% YoY DecliningOPM: -14.6% (down 34.4% YoY) Margin pressure
Industry Rank20/100 · Weak
ROCE 0.4% vs industry 16.4% Below peersROE 7.4% vs industry 21.4% Below peers3Y sales CAGR: -14% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Vipul Ltd Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
40/100
Moderate
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 0.0 vs Ind 36.6 | ROCE 0.4% | ROE 7.4% | CFO/NP N/A
Balance Sheet Stress
10/100
Comfortable
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 0.83x | IntCov 0.0x | Current 1.14x | Borrow/Reserve 0.20x
Cash Flow Reliability
86/100
Strong
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹-28 Cr | CFO/NP N/A
Ownership Accumulation
+50
Accumulation
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII +2.46 pp | DII +1.04 pp | Prom 0.00 pp
Business Momentum
+14
Watch closely
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales +15.6% | Q NP -83.3% | Q OPM +24.5 pp
Derived FieldValueHow it is derived
Valuation Gap %+152.2%((Fair Value - CMP) / CMP) × 100
Borrowings / Reserves0.20xLatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII Change+2.46 ppLatest FII% minus previous FII%
DII Change+1.04 ppLatest DII% minus previous DII%
Promoter Change0.00 ppLatest promoter% minus previous promoter%
Shareholder Count Change-793Latest shareholder count minus previous count
Quarterly Sales Change+15.6%Latest quarter sales vs previous quarter sales
Quarterly Profit Change-83.3%Latest quarter net profit vs previous quarter net profit
Quarterly OPM Change+24.5 ppLatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:55 am

Market Cap 146 Cr.
Current Price 10.4
Intrinsic Value₹26.23
High / Low 13.8/7.38
Stock P/E
Book Value 29.3
Dividend Yield0.00 %
ROCE0.44 %
ROE7.41 %
Face Value 1.00
PEG Ratio0.00

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Vipul Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Vipul Ltd 146 Cr. 10.4 13.8/7.38 29.30.00 %0.44 %7.41 % 1.00
AMJ Land Holdings Ltd 146 Cr. 35.6 68.9/30.37.29 62.00.56 %13.5 %8.66 % 2.00
Alpine Housing Development Corporation Ltd 148 Cr. 85.2 181/74.125.4 49.00.00 %8.57 %6.30 % 10.0
HB Estate Developers Ltd 142 Cr. 61.7 111/56.811.1 78.30.00 %8.20 %6.60 % 10.0
Bharat Road Network Ltd 155 Cr. 18.4 31.3/16.65.41 49.20.00 %15.1 %53.7 % 10.0
Industry Average3,374.20 Cr159.1236.56125.440.20%16.37%21.40%21.58

All Competitor Stocks of Vipul Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 6.288.116.117.47157.1435.7715.8615.7011.2644.261.697.959.19
Expenses 11.2612.7612.4010.6978.2820.4212.4810.929.0367.6614.2811.0610.53
Operating Profit -4.98-4.65-6.29-3.2278.8615.353.384.782.23-23.40-12.59-3.11-1.34
OPM % -79.30%-57.34%-102.95%-43.11%50.18%42.91%21.31%30.45%19.80%-52.87%-744.97%-39.12%-14.58%
Other Income 2.333.692.112.3413.54211.312.733.202.872.2911.8110.743.24
Interest 10.576.2810.516.5710.26-3.273.616.140.6813.070.520.280.43
Depreciation 0.710.680.630.720.710.690.690.690.690.740.120.120.26
Profit before tax -13.93-7.92-15.32-8.1781.43229.241.811.153.73-34.92-1.427.231.21
Tax % -0.07%-12.50%0.00%109.06%22.41%11.57%0.00%0.00%0.00%0.09%0.00%0.00%0.00%
Net Profit -13.92-6.92-15.31-17.0863.18202.721.811.143.73-34.95-1.427.241.21
EPS in Rs -1.16-0.58-1.28-1.425.2716.900.130.080.26-2.48-0.100.510.09

Last Updated: March 3, 2026, 1:52 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 26, 2026, 10:16 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 26123418523228422617637138752068763
Expenses 251224172212253196203901605912299104
Operating Profit 101013203130-26-53-221685-12-40
OPM % 4%4%7%9%11%13%-15%-141%-16%22%41%-14%-64%
Other Income 531148725135-852291128
Interest 19263334363332302938242514
Depreciation 1126654433331
Profit before tax -6-13-11-15-3-2-38-73-49-109287-28-28
Tax % 36%-16%-7%-22%45%-170%-10%-24%-14%7%19%0%
Net Profit -8-11-10-12-51-34-56-42-117234-28-28
EPS in Rs -0.66-0.94-0.82-0.99-0.400.10-2.86-4.63-3.49-9.7819.46-2.01-1.98
Dividend Payout % -8%0%0%-5%-13%49%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-37.50%9.09%-20.00%58.33%120.00%-3500.00%-64.71%25.00%-178.57%300.00%-111.97%
Change in YoY Net Profit Growth (%)0.00%46.59%-29.09%78.33%61.67%-3620.00%3435.29%89.71%-203.57%478.57%-411.97%

Vipul Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:-9%
5 Years:-13%
3 Years:-14%
TTM:-66%
Compounded Profit Growth
10 Years:%
5 Years:8%
3 Years:9%
TTM:-112%
Stock Price CAGR
10 Years:-12%
5 Years:-6%
3 Years:-6%
1 Year:-70%
Return on Equity
10 Years:0%
5 Years:6%
3 Years:22%
Last Year:-7%

Last Updated: September 5, 2025, 1:51 pm

Balance Sheet

Last Updated: December 4, 2025, 2:12 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 12121212121212121212121414
Reserves 379368358346354354315260219103340363399
Borrowings 1422993794576656526416336032661888580
Other Liabilities 6786587096886878519359841,0111,009716728698
Total Liabilities 1,2111,3371,4581,5031,7171,8691,9031,8891,8451,3901,2551,1901,191
Fixed Assets 292871961008270675948465219
CWIP 234428101111121212121255
Investments 1213133777766624
Other Assets 1,1471,2521,3451,3941,5991,7701,8141,8041,7681,3241,1901,1301,163
Total Assets 1,2111,3371,4581,5031,7171,8691,9031,8891,8451,3901,2551,1901,191

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 30-109-46-56-166-311625817421-11243
Cash from Investing Activity + -7-20-18-242171616920712
Cash from Financing Activity + -221314650165-26-115-265-43-357-138-77
Net Cash Flow 11-18-84-899-1073-43-22
Free Cash Flow 21-131-75-62-167611825918421-10542
CFO/OP 270%-965%-337%-260%-558%14%-455%-490%-87%2,620%-105%-352%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-132.00-289.00-366.00-437.00-634.00-622.00-667.00-686.00-625.00-250.00-103.00-97.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 1602123912902805327923,2548556084391,142
Inventory Days 4,8246,783
Days Payable 421846
Cash Conversion Cycle 1602123912902805327923,2545,2586086,3771,142
Working Capital Days 4306438606277309581,0021,375213141292855
ROCE %3%2%3%2%4%3%-2%-5%-2%4%66%-0%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 63.43%63.43%63.43%63.43%60.52%51.51%31.04%20.33%18.25%18.25%18.25%18.25%
FIIs 0.00%0.00%0.00%0.00%0.19%1.87%7.23%6.13%7.25%9.65%8.81%11.27%
DIIs 0.00%0.00%0.00%0.00%0.00%2.65%0.52%2.65%0.63%0.63%0.44%1.48%
Public 36.56%36.57%36.57%36.58%39.29%43.96%61.21%70.89%73.88%71.49%72.49%68.99%
No. of Shareholders 6,9286,7927,2397,7438,9769,32421,07227,91830,81530,92830,76329,970

Shareholding Pattern Chart

No. of Shareholders

Vipul Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 1.001.001.001.001.00
Basic EPS (Rs.) -2.0119.46-9.78-3.49-4.63
Diluted EPS (Rs.) -2.0119.46-9.78-3.49-4.63
Cash EPS (Rs.) -1.8219.68-9.55-3.19-4.31
Book Value[Excl.RevalReserv]/Share (Rs.) 26.6929.259.8219.5522.95
Book Value[Incl.RevalReserv]/Share (Rs.) 26.7529.329.8219.5522.95
Revenue From Operations / Share (Rs.) 6.1817.216.2411.523.10
PBDIT / Share (Rs.) -0.0526.392.17-1.36-3.43
PBIT / Share (Rs.) -0.2526.161.94-1.62-3.73
PBT / Share (Rs.) -2.0123.92-9.12-4.04-6.07
Net Profit / Share (Rs.) -2.0219.45-9.78-3.45-4.60
NP After MI And SOA / Share (Rs.) -2.0119.46-9.78-3.49-4.63
PBDIT Margin (%) -0.88153.3134.79-11.80-110.60
PBIT Margin (%) -4.11151.9931.08-14.06-120.12
PBT Margin (%) -32.60139.00-146.04-35.07-195.60
Net Profit Margin (%) -32.65113.00-156.67-29.97-148.35
NP After MI And SOA Margin (%) -32.48113.08-156.62-30.25-149.16
Return on Networth / Equity (%) -7.5166.52-102.37-18.07-20.39
Return on Capital Employeed (%) -0.9485.3411.58-5.49-10.62
Return On Assets (%) -2.3718.60-8.13-2.26-2.93
Long Term Debt / Equity (X) 0.000.020.610.450.37
Total Debt / Equity (X) 0.220.532.322.600.83
Asset Turnover Ratio (%) 0.070.150.040.070.02
Current Ratio (X) 1.301.241.041.081.14
Quick Ratio (X) 0.750.740.410.440.43
Inventory Turnover Ratio (X) 0.190.000.000.000.00
Interest Coverage Ratio (X) -0.0313.160.68-0.56-1.39
Interest Coverage Ratio (Post Tax) (X) -0.1510.810.40-0.42-0.91
Enterprise Value (Cr.) 187.76461.81380.45778.89515.43
EV / Net Operating Revenue (X) 2.162.245.085.6313.85
EV / EBITDA (X) -244.321.4614.60-47.75-12.52
MarketCap / Net Operating Revenue (X) 1.641.561.761.589.28
Price / BV (X) 0.380.911.150.941.27
Price / Net Operating Revenue (X) 1.641.561.761.589.28
EarningsYield -0.190.72-0.88-0.19-0.16

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Vipul Ltd. is a Public Limited Listed company incorporated on 31/01/2002 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L65923DL2002PLC167607 and registration number is 167607. Currently Company is involved in the business activities of Real estate activities with own or leased property. Company's Total Operating Revenue is Rs. 81.27 Cr. and Equity Capital is Rs. 14.10 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Construction, Contracting & EngineeringUnit No 201, New Delhi Delhi 110017Contact not found
Management
NamePosition Held
Mr. Punit BeriwalaManaging Director, CEO & CFO
Mr. Rajeev GuptaDirector
Mrs. Dolly SinghalDirector
Mrs. Vishaka BeriwalaDirector
Mr. Ajay Arjit SinghDirector
Mr. Sanjay SoodDirector

FAQ

What is the intrinsic value of Vipul Ltd and is it undervalued?

As of 05 April 2026, Vipul Ltd's intrinsic value is ₹26.23, which is 152.21% higher than the current market price of ₹10.40, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (7.41 %), book value (₹29.3), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Vipul Ltd?

Vipul Ltd is trading at ₹10.40 as of 05 April 2026, with a FY2026-2027 high of ₹13.8 and low of ₹7.38. The stock is currently in the middle of its 52-week range. Market cap stands at ₹146 Cr..

How does Vipul Ltd's P/E ratio compare to its industry?

Vipul Ltd has a P/E ratio of , which is below the industry average of 36.56. This is broadly in line with or below the industry average.

Is Vipul Ltd financially healthy?

Key indicators for Vipul Ltd: ROCE of 0.44 % is on the lower side compared to the industry average of 16.37%; ROE of 7.41 % is below ideal levels (industry average: 21.40%). Dividend yield is 0.00 %.

Is Vipul Ltd profitable and how is the profit trend?

Vipul Ltd reported a net profit of ₹-28 Cr in Mar 2025 on revenue of ₹87 Cr. Compared to ₹-42 Cr in Mar 2022, the net profit shows a mixed trend.

Does Vipul Ltd pay dividends?

Vipul Ltd has a dividend yield of 0.00 % at the current price of ₹10.40. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Vipul Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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