New Risk • Jun 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 7.0% per year over the past 5 years. High level of non-cash earnings (25% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (8.7% average weekly change). Market cap is less than US$100m (₹5.14b market cap, or US$54.0m). Valuation Update With 7 Day Price Move • Jun 06
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹241, the stock trades at a trailing P/E ratio of 66.3x. Average trailing P/E is 21x in the Chemicals industry in India. Total returns to shareholders of 187% over the past three years. Reported Earnings • Jun 01
Full year 2026 earnings released: EPS: ₹3.84 (vs ₹2.70 in FY 2025) Full year 2026 results: EPS: ₹3.84 (up from ₹2.70 in FY 2025). Revenue: ₹1.76b (up 8.3% from FY 2025). Net income: ₹69.1m (up 56% from FY 2025). Profit margin: 3.9% (up from 2.7% in FY 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Announcement • May 25
Vipul Organics Limited to Report Q4, 2026 Results on May 30, 2026 Vipul Organics Limited announced that they will report Q4, 2026 results at 12:15 PM, Indian Standard Time on May 30, 2026 Reported Earnings • Feb 16
Third quarter 2026 earnings released: EPS: ₹1.10 (vs ₹1.11 in 3Q 2025) Third quarter 2026 results: EPS: ₹1.10. Revenue: ₹463.8m (up 12% from 3Q 2025). Net income: ₹18.5m (up 27% from 3Q 2025). Profit margin: 4.0% (up from 3.5% in 3Q 2025). The increase in margin was driven by higher revenue. Announcement • Feb 06
Vipul Organics Limited to Report Q3, 2026 Results on Feb 13, 2026 Vipul Organics Limited announced that they will report Q3, 2026 results on Feb 13, 2026 Announcement • Dec 23
Vipul Organics Limited announced that it has received INR 275.4394 million in funding from JVS Holdings LLP and other investors. On December 22, 2025, the Vipul Organics Limited closed the transaction. Company issued 1,305,400 equity shares at an issue price of INR 211 for the proceeds of INR 275,439,400.Transaction is approved by board of directors. Transaction involves participation of Jagdish N Master for 475,000 shares, Mehul Madhusudan Shah for 300,000 shares, JVS Holdings LLP for 240,000 shares, Niti Mehul Shah for 2,00,000 shares, Mihir Shah for 60,000 shares, Shanay Rajiv Shah for 10,000 shares, Malav Rajiv Shah for 10,000 shares, Milan P Shah HUF for 5,400 shares and Krupa Kubadiya for 5,000 shares. Reported Earnings • Nov 16
Second quarter 2026 earnings released: EPS: ₹1.15 (vs ₹0.81 in 2Q 2025) Second quarter 2026 results: EPS: ₹1.15 (up from ₹0.81 in 2Q 2025). Revenue: ₹396.6m (up 1.1% from 2Q 2025). Net income: ₹18.1m (up 71% from 2Q 2025). Profit margin: 4.6% (up from 2.7% in 2Q 2025). Over the last 3 years on average, earnings per share has increased by 10% per year and the company’s share price has also increased by 10% per year. Announcement • Nov 05
Vipul Organics Limited to Report Q2, 2026 Results on Nov 14, 2025 Vipul Organics Limited announced that they will report Q2, 2026 results on Nov 14, 2025 Announcement • Sep 08
Vipul Organics Limited, Annual General Meeting, Sep 30, 2025 Vipul Organics Limited, Annual General Meeting, Sep 30, 2025, at 15:30 Indian Standard Time. Declared Dividend • Sep 08
Dividend reduced to ₹0.80 Dividend of ₹0.80 is 20% lower than last year. Ex-date: 23rd September 2025 Payment date: 30th October 2025 Dividend yield will be 0.4%, which is lower than the industry average of 0.8%. Sustainability & Growth Dividend is covered by earnings (30% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 2.3% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 67% to shift the payout ratio to a potentially unsustainable range, which is more than the 12% EPS decline seen over the last 5 years. Announcement • Sep 05
Vipul Organics Limited Appoints Mansi Kirankumar Shah as the Company Secretary and Compliance Officer, Effective 5 September, 2025 Vipul Organics Limited, at the board meeting held on 5 September, 2025 appointed Mrs. Mansi Kirankumar Shah as the Company Secretary and Compliance Officer of the Company with effect from 5 September, 2025. Reported Earnings • Aug 16
First quarter 2026 earnings released: EPS: ₹0.86 (vs ₹0.87 in 1Q 2025) First quarter 2026 results: EPS: ₹0.86. Revenue: ₹376.9m (down 1.0% from 1Q 2025). Net income: ₹12.7m (up 11% from 1Q 2025). Profit margin: 3.4% (up from 3.0% in 1Q 2025). Announcement • Aug 09
Vipul Organics Limited to Report Q1, 2026 Results on Aug 14, 2025 Vipul Organics Limited announced that they will report Q1, 2026 results on Aug 14, 2025 Reported Earnings • Jun 02
Full year 2025 earnings released: EPS: ₹2.70 (vs ₹2.60 in FY 2024) Full year 2025 results: EPS: ₹2.70 (up from ₹2.60 in FY 2024). Revenue: ₹1.63b (up 8.7% from FY 2024). Net income: ₹44.2m (up 32% from FY 2024). Profit margin: 2.7% (up from 2.2% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • May 26
Vipul Organics Limited to Report Q4, 2025 Results on May 30, 2025 Vipul Organics Limited announced that they will report Q4, 2025 results on May 30, 2025 Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹148, the stock trades at a trailing P/E ratio of 55.7x. Average trailing P/E is 26x in the Chemicals industry in India. Total returns to shareholders of 8.6% over the past three years. New Risk • Apr 29
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 36% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (17% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 14% per year over the past 5 years. Shareholders have been substantially diluted in the past year (36% increase in shares outstanding). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (₹2.42b market cap, or US$28.4m). Announcement • Apr 03
Vipul Organics Limited has completed a Follow-on Equity Offering in the amount of INR 204.115386 million. Vipul Organics Limited has completed a Follow-on Equity Offering in the amount of INR 204.115386 million.
Security Name: Equity Shares
Security Type: Common Stock
Securities Offered: 4,437,291
Price\Range: INR 46
Transaction Features: Rights Offering Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹153, the stock trades at a trailing P/E ratio of 43x. Average trailing P/E is 25x in the Chemicals industry in India. Negligible returns to shareholders over past three years. New Risk • Mar 10
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 7.2% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (17% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (7.2% average weekly change). Earnings have declined by 14% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (₹2.81b market cap, or US$32.2m). Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₹152, the stock trades at a trailing P/E ratio of 42.9x. Average trailing P/E is 25x in the Chemicals industry in India. Total loss to shareholders of 8.3% over the past three years. Reported Earnings • Feb 13
Third quarter 2025 earnings released: EPS: ₹1.11 (vs ₹0.62 in 3Q 2024) Third quarter 2025 results: EPS: ₹1.11 (up from ₹0.62 in 3Q 2024). Revenue: ₹415.4m (up 11% from 3Q 2024). Net income: ₹14.6m (up 83% from 3Q 2024). Profit margin: 3.5% (up from 2.1% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • Feb 07
Vipul Organics Limited to Report Q3, 2025 Results on Feb 12, 2025 Vipul Organics Limited announced that they will report Q3, 2025 results on Feb 12, 2025 Reported Earnings • Nov 13
Second quarter 2025 earnings released: EPS: ₹0.81 (vs ₹0.77 in 2Q 2024) Second quarter 2025 results: EPS: ₹0.81 (up from ₹0.77 in 2Q 2024). Revenue: ₹394.3m (up 7.9% from 2Q 2024). Net income: ₹10.6m (up 6.5% from 2Q 2024). Profit margin: 2.7% (in line with 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Announcement • Nov 09
Vipul Organics Limited to Report Q2, 2025 Results on Nov 12, 2024 Vipul Organics Limited announced that they will report Q2, 2025 results on Nov 12, 2024 New Risk • Oct 29
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (3.0x net interest cover). Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 18% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (3.1% increase in shares outstanding). Market cap is less than US$100m (₹3.52b market cap, or US$41.8m). Announcement • Oct 03
Vipul Organics Limited Approves Dividend for the Financial Year Ended 31 March 2024 Vipul Organics Limited announced that at its AGM held on 30 September 2024, the shareholders approved dividend of INR 1 per equity share of INR 10 each that is 10% of the paid-up equity capital of the company for the financial year ended 31 March 2024. New Risk • Sep 30
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.7% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (3.0x net interest cover). Share price has been highly volatile over the past 3 months (9.7% average weekly change). Earnings have declined by 18% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (2.7% increase in shares outstanding). Market cap is less than US$100m (₹3.43b market cap, or US$40.9m). Declared Dividend • Sep 06
Dividend increased to ₹1.00 Dividend of ₹1.00 is 11% higher than last year. Ex-date: 23rd September 2024 Payment date: 30th October 2024 Dividend yield will be 0.4%, which is lower than the industry average of 0.8%. Sustainability & Growth Dividend is covered by earnings (39% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 4.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to decline by 57% to shift the payout ratio to a potentially unsustainable range, which is more than the 3.8% EPS decline seen over the last 5 years. Announcement • Sep 03
Vipul Organics Limited, Annual General Meeting, Sep 30, 2024 Vipul Organics Limited, Annual General Meeting, Sep 30, 2024, at 15:30 Indian Standard Time. New Risk • Aug 15
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.7% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (3.0x net interest cover). Earnings have declined by 18% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (9.6% average weekly change). Shareholders have been diluted in the past year (2.7% increase in shares outstanding). Market cap is less than US$100m (₹3.00b market cap, or US$35.7m). Valuation Update With 7 Day Price Move • Aug 02
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to ₹234, the stock trades at a trailing P/E ratio of 76.9x. Average trailing P/E is 36x in the Chemicals industry in India. Total returns to shareholders of 60% over the past three years. New Risk • Jul 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (3.0x net interest cover). Earnings have declined by 18% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.0% average weekly change). Market cap is less than US$100m (₹2.48b market cap, or US$29.6m). Reported Earnings • Jul 21
First quarter 2025 earnings released: EPS: ₹0.87 (vs ₹0.40 in 1Q 2024) First quarter 2025 results: EPS: ₹0.87 (up from ₹0.40 in 1Q 2024). Revenue: ₹382.0m (up 5.7% from 1Q 2024). Net income: ₹11.4m (up 121% from 1Q 2024). Profit margin: 3.0% (up from 1.4% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹199, the stock trades at a trailing P/E ratio of 77.6x. Average trailing P/E is 35x in the Chemicals industry in India. Total returns to shareholders of 17% over the past three years. Announcement • Jul 14
Vipul Organics Limited to Report Q1, 2025 Results on Jul 19, 2024 Vipul Organics Limited announced that they will report Q1, 2025 results on Jul 19, 2024 Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹171, the stock trades at a trailing P/E ratio of 66.5x. Average trailing P/E is 31x in the Chemicals industry in India. Total returns to shareholders of 24% over the past three years. Reported Earnings • Jun 04
Full year 2024 earnings released: EPS: ₹2.57 (vs ₹1.47 in FY 2023) Full year 2024 results: EPS: ₹2.57 (up from ₹1.47 in FY 2023). Revenue: ₹1.51b (up 13% from FY 2023). Net income: ₹33.4m (up 77% from FY 2023). Profit margin: 2.2% (up from 1.4% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • Jun 01
Vipul Organics Limited Recommends Dividend for the Financial Year Ended March 31, 2024 Vipul Organics Limited at its board meeting held on May 30, 2024 recommended the payment of dividend on Equity Shares of INR 10 each at INR 1 per share that is 10.00% of the paid up Equity Share Capital for the financial year ended March 31, 2024, subject To Approve the shareholders at the upcoming 52nd Annual General Meeting of the Company. The dividend if approved at the upcoming AGM of the Company, shall be paid/dispatched within 30 days of upcoming AGM. The date of Annual General Meeting will be intimated in due course of time. Announcement • May 26
Vipul Organics Limited to Report Q4, 2024 Results on May 30, 2024 Vipul Organics Limited announced that they will report Q4, 2024 results on May 30, 2024 Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to ₹158, the stock trades at a trailing P/E ratio of 79.3x. Average trailing P/E is 28x in the Chemicals industry in India. Total returns to shareholders of 25% over the past three years. New Risk • Feb 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 9.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.8x net interest cover). Earnings have declined by 13% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.0% average weekly change). Profit margins are more than 30% lower than last year (1.8% net profit margin). Market cap is less than US$100m (₹2.93b market cap, or US$35.4m). Reported Earnings • Feb 18
Third quarter 2024 earnings released: EPS: ₹0.62 (vs ₹0.06 in 3Q 2023) Third quarter 2024 results: EPS: ₹0.62 (up from ₹0.06 in 3Q 2023). Revenue: ₹374.2m (up 34% from 3Q 2023). Net income: ₹7.96m (up ₹6.89m from 3Q 2023). Profit margin: 2.1% (up from 0.4% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Announcement • Feb 07
Vipul Organics Limited to Report Q3, 2024 Results on Feb 14, 2024 Vipul Organics Limited announced that they will report Q3, 2024 results on Feb 14, 2024 Announcement • Nov 12
Vipul Organics Limited Appoints Priya Shadija as Company Secretary and Compliance Officer Effective November 10, 2023 Vipul Organics Limited announced that at the SGM, the board has approved the appointed of Ms. Priya Shadija as Company Secretary and Compliance Officer effective November 10, 2023. Announcement • Nov 05
Vipul Organics Limited to Report Q2, 2024 Results on Nov 10, 2023 Vipul Organics Limited announced that they will report Q2, 2024 results on Nov 10, 2023 New Risk • Oct 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.6x net interest cover). Earnings have declined by 6.8% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.0% average weekly change). Profit margins are more than 30% lower than last year (1.0% net profit margin). Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (₹2.18b market cap, or US$26.1m). Upcoming Dividend • Sep 15
Upcoming dividend of ₹0.90 per share at 0.6% yield Eligible shareholders must have bought the stock before 22 September 2023. Payment date: 30 October 2023. Payout ratio is a comfortable 61% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of Indian dividend payers (1.3%). Lower than average of industry peers (0.8%). Announcement • Sep 08
Vipul Organics Limited, Annual General Meeting, Sep 30, 2023 Vipul Organics Limited, Annual General Meeting, Sep 30, 2023, at 15:30 Indian Standard Time. Agenda: To receive, consider and adopt the Standalone Audited Financial Statements of the Company for the financial year ended 31st March, 2023 together with the reports of the Board of Directors and Auditors thereon; to declare dividend on Equity Shares for the financial year ended 31st March, 2023; to appoint a director in place of Mr. Vipul P. Shah ,who retires by rotation; and to consider other business matters. New Risk • Aug 16
New major risk - Revenue and earnings growth Earnings have declined by 6.8% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.7x net interest cover). Earnings have declined by 6.8% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (1.0% net profit margin). Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (₹1.78b market cap, or US$21.4m). Reported Earnings • Aug 15
First quarter 2024 earnings released: EPS: ₹0.40 (vs ₹0.82 in 1Q 2023) First quarter 2024 results: EPS: ₹0.40 (down from ₹0.82 in 1Q 2023). Revenue: ₹362.4m (down 4.4% from 1Q 2023). Net income: ₹5.13m (down 52% from 1Q 2023). Profit margin: 1.4% (down from 2.8% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Announcement • Aug 06
Vipul Organics Limited to Report Q1, 2024 Results on Aug 14, 2023 Vipul Organics Limited announced that they will report Q1, 2024 results at 3:30 PM, Indian Standard Time on Aug 14, 2023 Reported Earnings • Jun 01
Full year 2023 earnings released: EPS: ₹1.47 (vs ₹5.75 in FY 2022) Full year 2023 results: EPS: ₹1.47 (down from ₹5.75 in FY 2022). Revenue: ₹1.34b (flat on FY 2022). Net income: ₹18.7m (down 73% from FY 2022). Profit margin: 1.4% (down from 5.2% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Announcement • May 26
Vipul Organics Limited to Report Q4, 2023 Results on May 30, 2023 Vipul Organics Limited announced that they will report Q4, 2023 results on May 30, 2023 Board Change • May 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. VP, Additional Whole-Time Director & CFO Mihir Shah was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₹85.70, the stock trades at a trailing P/E ratio of 28.9x. Average trailing P/E is 18x in the Chemicals industry in India. Total returns to shareholders of 22% over the past three years. Recent Insider Transactions • Feb 24
Chairman & MD recently bought ₹2.5m worth of stock On the 22nd of February, Vipul Shah bought around 23k shares on-market at roughly ₹108 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Vipul's only on-market trade for the last 12 months. Reported Earnings • Feb 15
Third quarter 2023 earnings released: EPS: ₹0.06 (vs ₹1.26 in 3Q 2022) Third quarter 2023 results: EPS: ₹0.06 (down from ₹1.26 in 3Q 2022). Revenue: ₹278.8m (down 9.8% from 3Q 2022). Net income: ₹1.06m (down 93% from 3Q 2022). Profit margin: 0.4% (down from 4.9% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 3% per year. Announcement • Feb 07
Vipul Organics Limited to Report Q3, 2023 Results on Feb 14, 2023 Vipul Organics Limited announced that they will report Q3, 2023 results at 3:30 PM, Indian Standard Time on Feb 14, 2023 Reported Earnings • Nov 20
Second quarter 2023 earnings released: EPS: ₹0.32 (vs ₹1.40 in 2Q 2022) Second quarter 2023 results: EPS: ₹0.32 (down from ₹1.40 in 2Q 2022). Revenue: ₹368.4m (up 19% from 2Q 2022). Net income: ₹4.17m (down 75% from 2Q 2022). Profit margin: 1.1% (down from 5.4% in 2Q 2022). The decrease in margin was driven by higher expenses. Announcement • Sep 16
Vipul Organics Limited Approves Dividend for the Financial Year Ended March 31, 2022 Vipul Organics Limited approved dividend of INR 10 per share for the financial year ended March 31, 2022, at its AGM held on September 14, 2022. Valuation Update With 7 Day Price Move • Sep 09
Investor sentiment improved over the past week After last week's 16% share price gain to ₹170, the stock trades at a trailing P/E ratio of 33.6x. Average trailing P/E is 20x in the Chemicals industry in India. Total returns to shareholders of 77% over the past three years. Upcoming Dividend • Aug 30
Upcoming dividend of ₹0.90 per share Eligible shareholders must have bought the stock before 06 September 2022. Payment date: 14 October 2022. Payout ratio is a comfortable 14% but the company is not cash flow positive. Trailing yield: 0.5%. Lower than top quartile of Indian dividend payers (1.7%). Lower than average of industry peers (0.7%). Announcement • Aug 24
Vipul Organics Limited Proposes Dividend for the Financial Year Ended March 31, 2022 Vipul Organics Limited proposed dividend at the rate of 9% i.e. INR 0.90 per share on Equity Shares having face value of INR 10/- each fully paid up for the financial year ended March 31, 2022, at its AGM to be held on September 14, 2022. The same be paid to those shareholders whose names appeared on the Company's Register of Members /List of Beneficiaries as on September 7, 2022 and that the dividend be paid to those shareholders who are entitled to receive the same. Announcement • Aug 23
Vipul Organics Limited, Annual General Meeting, Sep 14, 2022 Vipul Organics Limited, Annual General Meeting, Sep 14, 2022, at 16:30 Indian Standard Time. Reported Earnings • Aug 14
First quarter 2023 earnings released: EPS: ₹0.82 (vs ₹1.31 in 1Q 2022) First quarter 2023 results: EPS: ₹0.82 (down from ₹1.31 in 1Q 2022). Revenue: ₹379.3m (up 17% from 1Q 2022). Net income: ₹10.6m (down 32% from 1Q 2022). Profit margin: 2.8% (down from 4.8% in 1Q 2022). The decrease in margin was driven by higher expenses. Announcement • Aug 13
Vipul Organics Limited Appoints Dheerendra Verma as Company Secretary and Compliance Office, Effective 25 August, 2022 Vipul Organics Limited announced Board Meeting Outcome for Outcome of Board Meeting Held on 11.08.2022, Appointed Mr. Dheerendra Verma as Company Secretary and Compliance Officer of the Company w.e.f. 25 August, 2022 to fill vacancy caused by resignation of Mrs. Krina Sanghvi, previous Company Secretary and Compliance Officer of the Company. Mr. Dheerendra Verma is a B. Com, LLB and an Associate Member of the Institute Company Secretaries of India. He has more than 9 months of post-qualification experience in managing company secretarial matters. Announcement • Aug 01
Vipul Organics Limited Accepts the Resignation of Krina Sanghvi, Company Secretary & Compliance Officer Vipul Organics Limited accepted the resignation of Mrs. Krina Sanghvi, Company Secretary & Compliance Officer of the Company, effective closing working hours of 30 July, 2022. Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment improved over the past week After last week's 15% share price gain to ₹169, the stock trades at a trailing P/E ratio of 31.1x. Average trailing P/E is 18x in the Chemicals industry in India. Total returns to shareholders of 48% over the past three years. Reported Earnings • Jun 05
Full year 2022 earnings released: EPS: ₹5.70 (vs ₹5.74 in FY 2021) Full year 2022 results: EPS: ₹5.70. Revenue: ₹1.33b (up 12% from FY 2021). Net income: ₹69.7m (up 1.7% from FY 2021). Profit margin: 5.2% (down from 5.8% in FY 2021). The decrease in margin was driven by higher expenses. Announcement • May 31
Vipul Organics Limited Recommends Final Dividend for the Financial Year Ended March 31, 2022 Vipul Organics Limited at its board meeting held on May 30, 2022 recommended final dividend of INR 0.90 per share for the financial year ended March 31, 2022, subject to approval at annual general meeting. the dividend will be paid with in 30 days from the date of its declaration at AGM. Announcement • May 25
Vipul Organics Limited to Report Q4, 2022 Results on May 30, 2022 Vipul Organics Limited announced that they will report Q4, 2022 results on May 30, 2022 Announcement • May 20
Vipul Organics Limited Hires Milin Purohit to Head Their Sales and Marketing Vipul Organics Limited announced that they have hired a senior Chemicals Industry hand, Mr. Milin Purohit, to head their sales and marketing. The appointment is important as Vipul Organics is looking at diversifying its products portfolio and focusing on new categories of business. Mr. Milin Purohit is an industry veteran and has over 36 years if experience. He has around 2 decades of experience in Chemicals and related businesses like epoxies, adhesives, sealants, construction chemicals and around 15 years in FMCG segment. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment improved over the past week After last week's 28% share price gain to ₹221, the stock trades at a trailing P/E ratio of 44.1x. Average trailing P/E is 20x in the Chemicals industry in India. Total returns to shareholders of 54% over the past three years. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 21% share price decline to ₹171, the stock trades at a trailing P/E ratio of 26.4x. Average forward P/E is 25x in the Chemicals industry in India. Total returns to shareholders of 27% over the past three years. Reported Earnings • Jan 30
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹1.58 (down from ₹2.24 in 3Q 2021). Revenue: ₹308.9m (down 2.6% from 3Q 2021). Net income: ₹15.1m (down 30% from 3Q 2021). Profit margin: 4.9% (down from 6.8% in 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment improved over the past week After last week's 18% share price gain to ₹209, the stock trades at a trailing P/E ratio of 28.6x. Average forward P/E is 32x in the Chemicals industry in India. Total returns to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Jan 04
Investor sentiment improved over the past week After last week's 16% share price gain to ₹174, the stock trades at a trailing P/E ratio of 23.8x. Average trailing P/E is 19x in the Chemicals industry in India. Total loss to shareholders of 11% over the past three years. Upcoming Dividend • Sep 01
Upcoming dividend of ₹0.90 per share Eligible shareholders must have bought the stock before 08 September 2021. Payment date: 14 October 2021. Trailing yield: 0.6%. Lower than top quartile of Indian dividend payers (1.5%). In line with average of industry peers (0.7%). Reported Earnings • Aug 04
First quarter 2022 earnings released: EPS ₹1.64 (vs ₹1.14 in 1Q 2021) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2022 results: Revenue: ₹323.8m (up 61% from 1Q 2021). Net income: ₹15.6m (up 42% from 1Q 2021). Profit margin: 4.8% (down from 5.5% in 1Q 2021). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improved over the past week After last week's 17% share price gain to ₹198, the stock trades at a trailing P/E ratio of 27.5x. Average trailing P/E is 20x in the Chemicals industry in India. Total returns to shareholders of 23% over the past three years. Reported Earnings • Jun 11
Full year 2021 earnings released: EPS ₹7.19 (vs ₹5.98 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹1.19b (up 29% from FY 2020). Net income: ₹68.5m (up 48% from FY 2020). Profit margin: 5.7% (up from 5.0% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment improved over the past week After last week's 18% share price gain to ₹194, the stock trades at a trailing P/E ratio of 27.9x. Average trailing P/E is 21x in the Chemicals industry in India. Total returns to shareholders of 8.1% over the past three years. Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improved over the past week After last week's 20% share price gain to ₹199, the stock trades at a trailing P/E ratio of 28.5x. Average trailing P/E is 17x in the Chemicals industry in India. Total returns to shareholders of 11% over the past three years. Is New 90 Day High Low • Mar 16
New 90-day high: ₹169 The company is up 71% from a price of ₹98.95 on 16 December 2020. Outperformed the Indian market which is up 13% over the last 90 days. Exceeded the Chemicals industry, which is up 8.0% over the same period. Valuation Update With 7 Day Price Move • Mar 16
Investor sentiment improved over the past week After last week's 19% share price gain to ₹169, the stock trades at a trailing P/E ratio of 24.3x, up from the previous P/E ratio of 20.5x. Average P/E is 17x in the Chemicals industry in India. Total returns to shareholders over the past three years are 2.5%. Executive Departure • Mar 11
Company Secretary & Compliance Officer has left the company On the 10th of March, Yogita Mundhra's tenure as Company Secretary & Compliance Officer ended after 2.1 years in the role. We don't have any record of a personal shareholding under Yogita's name. Yogita is the only executive to leave the company over the last 12 months. Announcement • Feb 25
Vipul Organics Limited announced that it has received INR 19.425 million in funding On February 23, 2021, Vipul Organics Limited (BSE:530627) closed the transaction. Reported Earnings • Feb 15
Third quarter 2021 earnings released: EPS ₹2.24 (vs ₹0.47 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₹318.4m (up 50% from 3Q 2020). Net income: ₹21.4m (up 484% from 3Q 2020). Profit margin: 6.7% (up from 1.7% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Feb 14
Vipul Organics Limited Announces Executive Changes Vipul Organics Limited announced that the Board of Directors of the Company at its meeting held on 13 February, 2021, has accepted the resignation of Ms. Yogita Mundhra, Company Secretary & Compliance Officer of the Company from closing working hours of 10 March, 2021 due to her personal reasons. The board appointed Ms. Kinjal Shah, Associate Member of the Institute of Company Secretaries of India, as the Company Secretary & Compliance Officer of the Company with effect from 11 March, 2021. Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment improved over the past week After last week's 37% share price gain to ₹163, the stock is trading at a trailing P/E ratio of 25.6x, up from the previous P/E ratio of 18.7x. This compares to an average P/E of 18x in the Chemicals industry in India. Total return to shareholders over the past three years is a loss of 6.4%. Is New 90 Day High Low • Feb 06
New 90-day high: ₹163 The company is up 79% from its price of ₹91.35 on 06 November 2020. The Indian market is up 23% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 14% over the same period. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment improved over the past week After last week's 18% share price gain to ₹129, the stock is trading at a trailing P/E ratio of 20.2x, up from the previous P/E ratio of 17.1x. This compares to an average P/E of 19x in the Chemicals industry in India. Total return to shareholders over the past three years is a loss of 28%. Is New 90 Day High Low • Jan 19
New 90-day high: ₹120 The company is up 22% from its price of ₹98.00 on 21 October 2020. The Indian market is also up 22% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Chemicals industry, which is up 20% over the same period. Is New 90 Day High Low • Dec 29
New 90-day high: ₹114 The company is up 6.0% from its price of ₹107 on 30 September 2020. The Indian market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 20% over the same period. Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment improved over the past week After last week's 18% share price gain to ₹114, the stock is trading at a trailing P/E ratio of 17.8x, up from the previous P/E ratio of 15.1x. This compares to an average P/E of 18x in the Chemicals industry in India. Total return to shareholders over the past three years is a loss of 33%. Reported Earnings • Nov 13
Second quarter 2021 earnings released: EPS ₹2.00 The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₹297.4m (up 40% from 2Q 2020). Net income: ₹19.5m (up 431% from 2Q 2020). Profit margin: 6.5% (up from 1.7% in 2Q 2020). The increase in margin was driven by higher revenue. Is New 90 Day High Low • Nov 04
New 90-day low: ₹85.80 The company is down 34% from its price of ₹130 on 06 August 2020. The Indian market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 12% over the same period. Is New 90 Day High Low • Oct 15
New 90-day low: ₹96.75 The company is down 21% from its price of ₹123 on 17 July 2020. The Indian market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 15% over the same period. 
