New Risk • Apr 08
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 26% 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 Risk Negative equity (-₹14b). Minor Risks Shareholders have been diluted in the past year (26% increase in shares outstanding). Market cap is less than US$100m (₹4.63b market cap, or US$50.1m). Reported Earnings • Feb 05
Third quarter 2026 earnings released: ₹1.42 loss per share (vs ₹1.49 loss in 3Q 2025) Third quarter 2026 results: ₹1.42 loss per share (improved from ₹1.49 loss in 3Q 2025). Revenue: ₹1.45b (up 22% from 3Q 2025). Net loss: ₹165.3m (loss narrowed 4.3% from 3Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 163 percentage points per year, which is a significant difference in performance. Announcement • Jan 30
VISA Steel Limited to Report Q3, 2026 Results on Feb 04, 2026 VISA Steel Limited announced that they will report Q3, 2026 results at 9:08 AM, Indian Standard Time on Feb 04, 2026 Announcement • Nov 26
VISA Steel Limited announced that it has received INR 500 million in funding from VISA Industries Limited On November 26, 2025, VISA Steel Limited closed the transaction. The company has received approval from the board of directors. Reported Earnings • Nov 19
Second quarter 2026 earnings released: ₹1.75 loss per share (vs ₹0.36 loss in 2Q 2025) Second quarter 2026 results: ₹1.75 loss per share (further deteriorated from ₹0.36 loss in 2Q 2025). Revenue: ₹790.8m (down 48% from 2Q 2025). Net loss: ₹202.2m (loss widened 387% from 2Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 149 percentage points per year, which is a significant difference in performance. Announcement • Nov 08
VISA Steel Limited to Report Q2, 2026 Results on Nov 14, 2025 VISA Steel Limited announced that they will report Q2, 2026 results at 12:08 PM, Indian Standard Time on Nov 14, 2025 New Risk • Nov 07
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 8.5% 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 Share price has been highly volatile over the past 3 months (8.5% average weekly change). Negative equity (-₹14b). Minor Risk Market cap is less than US$100m (₹7.16b market cap, or US$80.8m). Announcement • Aug 18
VISA Steel Limited, Annual General Meeting, Sep 24, 2025 VISA Steel Limited, Annual General Meeting, Sep 24, 2025. Reported Earnings • Aug 15
First quarter 2026 earnings released: EPS: ₹0.37 (vs ₹0.60 loss in 1Q 2025) First quarter 2026 results: EPS: ₹0.37 (up from ₹0.60 loss in 1Q 2025). Revenue: ₹1.72b (up 28% from 1Q 2025). Net income: ₹43.2m (up ₹112.4m from 1Q 2025). Profit margin: 2.5% (up from net loss in 1Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 113 percentage points per year, which is a significant difference in performance. New Risk • Jul 17
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 7.0% 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 Risk Negative equity (-₹14b). Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Market cap is less than US$100m (₹4.09b market cap, or US$47.6m). Reported Earnings • May 30
Full year 2025 earnings released: ₹44.61 loss per share (vs ₹6.21 loss in FY 2024) Full year 2025 results: ₹44.61 loss per share (further deteriorated from ₹6.21 loss in FY 2024). Revenue: ₹5.67b (down 15% from FY 2024). Net loss: ₹5.17b (loss widened ₹4.45b from FY 2024). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. Announcement • May 21
VISA Steel Limited to Report Q4, 2025 Results on May 29, 2025 VISA Steel Limited announced that they will report Q4, 2025 results on May 29, 2025 Reported Earnings • Feb 14
Third quarter 2025 earnings released: ₹1.49 loss per share (vs ₹2.10 loss in 3Q 2024) Third quarter 2025 results: ₹1.49 loss per share (improved from ₹2.10 loss in 3Q 2024). Revenue: ₹1.19b (up 33% from 3Q 2024). Net loss: ₹172.8m (loss narrowed 29% from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 05
VISA Steel Limited to Report Q3, 2025 Results on Feb 12, 2025 VISA Steel Limited announced that they will report Q3, 2025 results at 12:08 PM, Indian Standard Time on Feb 12, 2025 Reported Earnings • Nov 16
Second quarter 2025 earnings released: ₹0.36 loss per share (vs ₹2.13 loss in 2Q 2024) Second quarter 2025 results: ₹0.36 loss per share (improved from ₹2.13 loss in 2Q 2024). Revenue: ₹1.51b (down 20% from 2Q 2024). Net loss: ₹41.6m (loss narrowed 83% from 2Q 2024). Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Announcement • Nov 09
VISA Steel Limited to Report Q2, 2025 Results on Nov 14, 2024 VISA Steel Limited announced that they will report Q2, 2025 results on Nov 14, 2024 Announcement • Aug 16
VISA Steel Limited, Annual General Meeting, Sep 27, 2024 VISA Steel Limited, Annual General Meeting, Sep 27, 2024. Reported Earnings • Aug 16
First quarter 2025 earnings released: ₹0.60 loss per share (vs ₹1.21 loss in 1Q 2024) First quarter 2025 results: ₹0.60 loss per share (improved from ₹1.21 loss in 1Q 2024). Revenue: ₹1.35b (down 43% from 1Q 2024). Net loss: ₹69.2m (loss narrowed 51% from 1Q 2024). Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Announcement • Aug 07
VISA Steel Limited to Report Q1, 2025 Results on Aug 14, 2024 VISA Steel Limited announced that they will report Q1, 2025 results on Aug 14, 2024 Reported Earnings • Jun 05
Full year 2024 earnings released: ₹6.21 loss per share (vs ₹143 profit in FY 2023) Full year 2024 results: ₹6.21 loss per share (down from ₹143 profit in FY 2023). Revenue: ₹6.71b (up 2.1% from FY 2023). Net loss: ₹718.9m (down 104% from profit in FY 2023). Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Announcement • May 24
VISA Steel Limited to Report Q4, 2024 Results on May 30, 2024 VISA Steel Limited announced that they will report Q4, 2024 results on May 30, 2024 Reported Earnings • Feb 16
Third quarter 2024 earnings released: ₹2.10 loss per share (vs ₹149 profit in 3Q 2023) Third quarter 2024 results: ₹2.10 loss per share (down from ₹149 profit in 3Q 2023). Revenue: ₹90.0m (down 94% from 3Q 2023). Net loss: ₹24.4m (down 100% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has only increased by 52% per year, which means it is significantly lagging earnings growth. Announcement • Feb 07
VISA Steel Limited to Report Q3, 2024 Results on Feb 14, 2024 VISA Steel Limited announced that they will report Q3, 2024 results on Feb 14, 2024 Reported Earnings • Nov 18
Second quarter 2024 earnings released: ₹2.13 loss per share (vs ₹1.85 loss in 2Q 2023) Second quarter 2024 results: ₹2.13 loss per share (further deteriorated from ₹1.85 loss in 2Q 2023). Revenue: ₹1.89b (down 1.9% from 2Q 2023). Net loss: ₹246.5m (loss widened 15% from 2Q 2023). Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth. New Risk • Oct 07
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 9.0% 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 (1.9% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (9.0% average weekly change). Negative equity (-₹7.7b). Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (₹1.84b market cap, or US$22.1m). Announcement • Aug 25
Visa Steel Limited Approves the Appointment of Ritu Bajaj as Additional Woman Director The Board of Directors of VISA Steel Limited, at its Meeting held on 24 August 2023 has: approved the appointment of Ms. Ritu Bajaj (DIN 02167982) as an Additional Woman Director (Non-Executive and Independent) of the Company with effect from 24 August 2023 as recommended by the Nomination and Remuneration Committee. She shall hold office till the conclusion of the forthcoming Annual General Meeting. Her brief profile is as under: Ms. Ritu Bajaj, is a Practicing Company Secretary and a Fellow Member of the Institute of Company Secretaries of India (FCS). She has 20 years of experience in Corporate Law, Due Diligence, Secretarial Audits and other Allied Laws. She is a certified CSR Professional and has been with a start- up where she was closely partnering with the CEO to drive business performance. Reported Earnings • Aug 08
First quarter 2024 earnings released: ₹1.21 loss per share (vs ₹2.20 loss in 1Q 2023) First quarter 2024 results: ₹1.21 loss per share (improved from ₹2.20 loss in 1Q 2023). Revenue: ₹2.35b (up 20% from 1Q 2023). Net loss: ₹140.0m (loss narrowed 45% from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Aug 08
Now 21% undervalued Over the last 90 days, the stock is up 49%. The fair value is estimated to be ₹21.19, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Announcement • Aug 08
VISA Steel Limited, Annual General Meeting, Sep 29, 2023 VISA Steel Limited, Annual General Meeting, Sep 29, 2023. Announcement • Aug 01
VISA Steel Limited to Report Q1, 2024 Results on Aug 07, 2023 VISA Steel Limited announced that they will report Q1, 2024 results at 4:00 PM, Indian Standard Time on Aug 07, 2023 Reported Earnings • Jun 02
Full year 2023 earnings released: EPS: ₹143 (vs ₹7.53 loss in FY 2022) Full year 2023 results: EPS: ₹143 (up from ₹7.53 loss in FY 2022). Revenue: ₹6.59b (down 41% from FY 2022). Net income: ₹16.6b (up ₹17.5b from FY 2022). Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: ₹149 (vs ₹1.53 loss in 3Q 2022) Third quarter 2023 results: EPS: ₹149 (up from ₹1.53 loss in 3Q 2022). Revenue: ₹1.60b (down 36% from 3Q 2022). Net income: ₹17.3b (up ₹17.5b from 3Q 2022). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 04
VISA Steel Limited to Report Q3, 2023 Results on Feb 11, 2023 VISA Steel Limited announced that they will report Q3, 2023 results at 4:00 PM, Indian Standard Time on Feb 11, 2023 Board Change • Nov 16
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. 4 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Dhanesh Ranjan was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Buying Opportunity • Nov 09
Now 24% undervalued Over the last 90 days, the stock is up 26%. The fair value is estimated to be ₹23.81, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has declined by 20%. Reported Earnings • Nov 02
Second quarter 2023 earnings released: ₹1.85 loss per share (vs ₹2.42 loss in 2Q 2022) Second quarter 2023 results: ₹1.85 loss per share (improved from ₹2.42 loss in 2Q 2022). Revenue: ₹1.93b (down 26% from 2Q 2022). Net loss: ₹213.9m (loss narrowed 24% from 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 35% per year, which means it is well ahead of earnings. Reported Earnings • Aug 14
First quarter 2023 earnings released First quarter 2023 results: Revenue: ₹1.97b (down 20% from 1Q 2022). Net loss: ₹254.2m (loss narrowed 21% from 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 42% per year, which means it is well ahead of earnings. Reported Earnings • May 31
Full year 2022 earnings released: ₹7.53 loss per share (vs ₹103 loss in FY 2021) Full year 2022 results: ₹7.53 loss per share (up from ₹103 loss in FY 2021). Revenue: ₹11.2b (up 15% from FY 2021). Net loss: ₹872.2m (loss narrowed 93% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has increased by 38% per year, which means it is well ahead of earnings. Board Change • Apr 27
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. 5 experienced directors. 2 highly experienced directors. Additional Independent Non-Executive Director Dhanesh Ranjan was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 16
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: ₹1.53 loss per share (up from ₹3.44 loss in 3Q 2021). Revenue: ₹2.50b (down 12% from 3Q 2021). Net loss: ₹176.7m (loss narrowed 56% from 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 117 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 18
First quarter 2022 earnings released: ₹2.78 loss per share (vs ₹4.01 loss in 1Q 2021) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2022 results: Revenue: ₹2.51b (up 156% from 1Q 2021). Net loss: ₹322.1m (loss narrowed 31% from 1Q 2021). Reported Earnings • Jul 04
Full year 2021 earnings released: ₹103 loss per share (vs ₹16.57 loss in FY 2020) The company reported a mediocre full year result with increased losses and weaker control over costs, although revenues improved. Full year 2021 results: Revenue: ₹9.88b (up 45% from FY 2020). Net loss: ₹12.0b (loss widened ₹10.1b from FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 11
Third quarter 2021 earnings released: ₹3.44 loss per share (vs ₹4.43 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: ₹2.88b (up 109% from 3Q 2020). Net loss: ₹398.7m (loss narrowed 22% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has fallen by 30% per year, which means it is performing significantly worse than earnings. Is New 90 Day High Low • Jan 05
New 90-day high: ₹7.15 The company is up 13% from its price of ₹6.30 on 07 October 2020. The Indian market is up 20% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 39% over the same period. Is New 90 Day High Low • Nov 24
New 90-day low: ₹5.25 The company is down 12% from its price of ₹5.95 on 26 August 2020. The Indian market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 7.0% over the same period. Reported Earnings • Nov 11
Second quarter 2021 earnings released: ₹3.42 loss per share The company reported a solid second quarter result with reduced losses and improved revenues and control over expenses. Second quarter 2021 results: Revenue: ₹2.52b (up 96% from 2Q 2020). Net loss: ₹396.0m (loss narrowed 28% from 2Q 2020).