Income Statement Vipul Limited

Stocks

VIPULLTD

INE946H01037

Real Estate Development & Operations

Market Closed - Bombay S.E. Other stock markets 06:00:48 2026-06-18 EDT			5-day change	1st Jan Change
10.02 ^INR	+9.99%		+0.91%	-19.58%

06-05	Vipul Limited Announces Resignation of Rajeev Gupta from Independent Director, Effective June 4, 2026	CI
03-03	Vipul Ltd CEO Punit Beriwala arrested on Feb 27	RE

94980534741607d7a36820b5f906b84f._y0xc8pXLHoQjuc0H37i8XNUlNzDhMQtjlFsDha6U80.yW5UIKtnTT99xa57fQ2qvBkGoq2s1ZdDvTYPP0OOa76SaH0L_Gd_JSLs0w

Published financial data: VIPUL LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Revenues	372M	1.38B	749M	2.06B	871M
Other Revenues, Total	-	-1K	-	-	-
Total Revenues	372M	1.38B	749M	2.06B	871M
Cost of Goods Sold, Total	744M	1.4B	395M	1.04B	808M
Gross Profit	-372M	-21.18M	354M	1.03B	62.5M
Selling General & Admin Expenses, Total	99.36M	101M	105M	103M	92.29M
Provision for Bad Debts	-	-	-	-	-
Depreciation & Amortization - (IS)	35.42M	31.36M	27.8M	27.44M	28.12M
Other Operating Expenses	43.42M	88.86M	84.95M	72.5M	81.35M
Other Operating Expenses, Total	178M	221M	217M	203M	202M
Operating Income	-550M	-242M	137M	823M	-139M
Interest Expense, Total	-290M	-289M	-375M	-240M	-235M
Interest And Investment Income	65.92M	90.06M	83.12M	2B	100M
Net Interest Expenses	-224M	-199M	-292M	1.76B	-135M
Income (Loss) On Equity Invest.	-3.04M	-3.91M	330K	1.55M	1.49M
Other Non Operating Income (Expenses)	-4.36M	3.41M	7.48M	231M	3.21M
EBT, Excl. Unusual Items	-782M	-441M	-148M	2.81B	-269M
Gain (Loss) On Sale Of Investments	-222K	-42.25M	126K	-	-
Gain (Loss) On Sale Of Assets	43.9M	279K	-	85.03M	-
Other Unusual Items	6.94M	-5.49M	-946M	-27.43M	-13.04M
EBT, Incl. Unusual Items	-731M	-489M	-1.09B	2.87B	-282M
Income Tax Expense	-176M	-70.57M	79.61M	537M	515K
Earnings From Continuing Operations	-555M	-418M	-1.17B	2.34B	-283M
Net Income to Company	-555M	-418M	-1.17B	2.34B	-283M
Minority Interest	2K	2K	2K	-	-
Net Income - (IS)	-555M	-418M	-1.17B	2.34B	-283M
Net Income to Common Incl Extra Items	-555M	-418M	-1.17B	2.34B	-283M
Net Income to Common Excl. Extra Items	-555M	-418M	-1.17B	2.34B	-283M
Per Share Items
Net EPS - Basic	-4.63	-3.49	-9.78	19.46	-2.05
Basic EPS - Continuing Operations	-4.63	-3.49	-9.78	19.46	-2.05
Basic Weighted Average Shares Outstanding	120M	120M	120M	120M	138M
Net EPS - Diluted	-4.63	-3.49	-9.78	19.46	-2.05
Diluted EPS - Continuing Operations	-4.63	-3.49	-9.78	19.46	-2.05
Diluted Weighted Average Shares Outstanding	120M	120M	120M	120M	138M
Normalized Basic EPS	-4.07	-2.3	-0.77	14.66	-1.22
Normalized Diluted EPS	-4.07	-2.3	-0.77	14.66	-1.22
Dividend Per Share	-	-	-	-	-
Payout Ratio	-	-	-	-	-
Supplemental Items
EBITDA	-516M	-211M	165M	849M	-111M
EBITA	-550M	-242M	137M	823M	-139M
EBIT	-550M	-242M	137M	823M	-139M
EBITDAR	-	-	-	-	-
Total Revenues (As Reported)	484M	1.48B	848M	4.38B	993M
Effective Tax Rate - (Ratio)	24.06	14.44	-7.28	18.69	-0.18
Current Domestic Taxes	-389K	-20K	79.62M	2.52M	515K
Total Current Taxes	-389K	-20K	79.62M	2.52M	515K
Deferred Domestic Taxes	-175M	-70.55M	-13K	534M	-
Total Deferred Taxes	-175M	-70.55M	-13K	534M	-
Normalized Net Income	-489M	-276M	-92.24M	1.76B	-168M
Non-Cash Pension Expense	2.34M	1.64M	1.51M	1.49M	1.36M
Supplemental Operating Expense Items
Advertising Expense	3.88M	4.36M	3.29M	1.71M	932K
Selling and Marketing Expenses	3.88M	4.36M	3.29M	1.71M	932K
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Maintenance & Repair Expenses, Total	3.91M	4.63M	4.82M	3.86M	3.7M

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	596M	446M	210M	488M	403M
Total Cash And Short Term Investments	596M	446M	210M	488M	403M
Accounts Receivable, Total	3.32B	3.24B	1.25B	2.48B	2.72B
Other Receivables	146K	111K	112K	-	-
Notes Receivable	82.51M	312M	16.37M	12.77M	13.03M
Total Receivables	3.4B	3.55B	1.26B	2.5B	2.74B
Inventory	10.23B	9.51B	7.74B	4.4B	4.4B
Other Current Assets, Total	2.46B	2.66B	3.7B	3.63B	3B
Total Current Assets	16.68B	16.17B	12.91B	11.01B	10.53B
Gross Property Plant And Equipment	964M	953M	865M	829M	844M
Accumulated Depreciation	-383M	-404M	-425M	-404M	-432M
Net Property Plant And Equipment	581M	549M	440M	425M	412M
Long-term Investments	65.82M	61.91M	62.24M	64.04M	22.22M
Goodwill	161M	161M	161M	161M	161M
Other Intangibles, Total	910K	798K	798K	-	0
Accounts Receivable Long-Term	664M	667M	-	-	-
Loans Receivable Long-Term	131M	131M	128M	97.27M	97.27M
Deferred Tax Assets Long-Term	483M	552M	552M	15.49M	15.49M
Other Long-Term Assets, Total	125M	165M	168M	777M	655M
Total Assets	18.89B	18.45B	14.42B	12.55B	11.9B
Liabilities
Accounts Payable, Total	833M	830M	583M	548M	465M
Accrued Expenses, Total	578M	845M	593M	410M	44.75M
Short-term Borrowings	1.25B	1.08B	1.37B	893M	969M
Current Portion of Long-Term Debt	4.07B	3.9B	703M	906M	91.72M
Current Income Taxes Payable	-	-	-	53.63M	53.63M
Unearned Revenue Current, Total	3.18B	3.38B	4.07B	4.33B	4.27B
Other Current Liabilities	4.78B	4.88B	5.09B	1.74B	2.2B
Total Current Liabilities	14.68B	14.91B	12.41B	8.88B	8.09B
Long-Term Debt	1.02B	1.05B	710M	78.7M	-
Unearned Revenue Non Current	-	-	-	-	-
Other Non Current Liabilities	440M	150M	123M	80.67M	35.61M
Total Liabilities	16.14B	16.11B	13.24B	9.04B	8.13B
Common Stock, Total	120M	120M	120M	120M	141M
Additional Paid In Capital	2.32B	2.32B	2.32B	2.32B	2.8B
Retained Earnings	5.76M	-404M	-1.57B	803M	555M
Comprehensive Income and Other	275M	276M	275M	274M	277M
Total Common Equity	2.72B	2.31B	1.15B	3.52B	3.77B
Minority Interest	31.55M	31.55M	31.55M	-	-
Total Equity	2.75B	2.35B	1.18B	3.52B	3.77B
Total Liabilities And Equity	18.89B	18.45B	14.42B	12.55B	11.9B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	120M	120M	120M	141M	141M
ECS Total Common Shares Outstanding	120M	120M	120M	120M	141M
Book Value / Share	22.69	19.28	9.55	29.32	26.75
Tangible Book Value	2.56B	2.15B	985M	3.36B	3.61B
Tangible Book Value Per Share	21.34	17.94	8.21	27.98	25.61
Total Debt	6.33B	6.03B	2.78B	1.88B	1.06B
Net Debt	5.74B	5.58B	2.57B	1.39B	657M
Debt Equivalent of Unfunded Proj. Benefit Obligation	25.7M	21.84M	20.26M	19.01M	17.92M
Debt Equivalent Oper. Leases	-	-	-	-	-
Minority Interest, Total (Incl. Fin. Div)	31.55M	31.55M	31.55M	-	-
Equity Method Investments, Total	65.82M	61.91M	62.24M	64.04M	21.97M
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Work In Process, Total	10.22B	9.5B	7.74B	4.4B	4.4B
Inventories - Finished Goods, Total	1.62M	1.37M	360K	474K	381K
Land - (BS)	-	600M	516M	498M	582M
Machinery, Total	-	234M	230M	210M	210M
Full Time Employees	107	84	73	64	56
Accumulated Allowance for Doubtful Accounts (Supple)	1.65M	1.65M	1.65M	1.65M	1.65M

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	-555M	-418M	-1.17B	2.34B	-283M
Depreciation & Amortization - CF	34.95M	31.24M	27.8M	26.64M	28.12M
Depreciation & Amortization, Total	34.95M	31.24M	27.8M	26.64M	28.12M
Amortization of Deferred Charges, Total - (CF)	472K	112K	-	798K	-
(Gain) Loss From Sale Of Asset	-	-	-	-84.87M	-
(Gain) Loss on Sale of Investments - (CF)	-43M	-	-	-	13.04M
Other Operating Activities, Total	6.07M	115M	351M	-1.45B	149M
Change In Accounts Receivable	482M	76.99M	2.66B	-1.24B	-241M
Change In Inventories	148M	720M	1.77B	3.34B	-430K
Change In Accounts Payable	180M	-2.59M	-248M	-34.31M	-83.18M
Change in Other Net Operating Assets	2.33B	-350M	821M	-4.01B	847M
Cash from Operations	2.58B	172M	4.21B	-1.12B	430M
Capital Expenditure	-2.43M	-288K	-3.05M	-17.54M	-14.41M
Sale of Property, Plant, and Equipment	11.02M	11.37M	8.12M	89.5M	-
Investment in Marketable and Equity Securities, Total	43.5M	60M	-	-	31M
Other Investing Activities, Total	108M	89.67M	83.06M	2B	99.99M
Cash from Investing	160M	161M	88.13M	2.07B	117M
Short Term Debt Issued, Total	-	135M	175M	-	-
Long-Term Debt Issued, Total	-	32.59M	-	-	20.98M
Total Debt Issued	-	167M	175M	-	20.98M
Short Term Debt Repaid, Total	-28.98M	-307M	-	-358M	-951M
Long-Term Debt Repaid, Total	-2.33B	-	-3.36B	-786M	-78.7M
Total Debt Repaid	-2.36B	-307M	-3.36B	-1.14B	-1.03B
Common Dividends Paid	-	-	-	-	-
Common & Preferred Stock Dividends Paid	-	-	-	-	-
Other Financing Activities, Total	-295M	-290M	-381M	-241M	241M
Cash from Financing	-2.65B	-430M	-3.57B	-1.38B	-767M
Miscellaneous Cash Flow Adjustments	-1K	1K	-	-	-
Net Change in Cash	90.81M	-96.91M	726M	-434M	-221M
Supplemental Items
Cash Interest Paid	290M	289M	375M	240M	230M
Cash Income Tax Paid (Refund)	-5.72M	18.61M	25.66M	231M	-14.98M
Levered Free Cash Flow	698M	633M	3.3B	-712M	128M
Unlevered Free Cash Flow	879M	813M	3.53B	-563M	274M
Change In Net Working Capital	-1.19B	-934M	-3.42B	1.09B	-348M
Net Debt Issued / Repaid	-2.36B	-140M	-3.19B	-1.14B	-1.01B

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	-1.81	-0.81	0.52	3.89	-0.71
Return on Total Capital	-3.66	-1.73	1.39	10.99	-1.7
Return On Equity %	-18.34	-16.41	-66.62	99.45	-7.76
Return on Common Equity	-18.53	-16.61	-67.83	100.13	-7.76
Margin Analysis
Gross Profit Margin %	-100.03	-1.53	47.31	49.67	7.18
SG&A Margin	26.7	7.27	13.97	4.99	10.6
EBITDA Margin %	-138.52	-15.24	22	41.13	-12.76
EBITA Margin %	-147.91	-17.5	18.28	39.84	-15.99
EBIT Margin %	-147.91	-17.5	18.28	39.84	-15.99
Income From Continuing Operations Margin %	-149.17	-30.26	-156.63	113.08	-32.49
Net Income Margin %	-149.17	-30.26	-156.63	113.08	-32.49
Net Avail. For Common Margin %	-149.17	-30.26	-156.63	113.08	-32.49
Normalized Net Income Margin	-131.26	-19.95	-12.31	85.18	-19.33
Levered Free Cash Flow Margin	187.56	45.78	440.43	-34.5	14.65
Unlevered Free Cash Flow Margin	236.2	58.84	471.76	-27.25	31.52
Asset Turnover
Asset Turnover	0.02	0.07	0.05	0.16	0.07
Fixed Assets Turnover	0.62	2.45	1.52	4.77	2.08
Receivables Turnover (Average Receivables)	0.1	0.42	0.33	1.11	0.33
Inventory Turnover (Average Inventory)	0.07	0.14	0.05	0.17	0.18
Short Term Liquidity
Current Ratio	1.14	1.08	1.04	1.24	1.3
Quick Ratio	0.27	0.25	0.12	0.33	0.39
Operating Cash Flow to Current Liabilities	0.18	0.01	0.34	-0.13	0.05
Days Sales Outstanding (Average Receivables)	3.5K	865.43	1.09K	330.58	1.09K
Days Outstanding Inventory (Average Inventory)	5.05K	2.57K	7.97K	2.14K	1.99K
Average Days Payable Outstanding	454.59	443.81	-187.74	-90.02	228.7
Cash Conversion Cycle (Average Days)	8.1K	2.99K	9.25K	2.56K	2.85K
Long Term Solvency
Total Debt/Equity	230.01	256.96	236.38	53.39	28.13
Total Debt / Total Capital	69.7	71.99	70.27	34.81	21.95
LT Debt/Equity	36.86	44.67	60.31	2.24	-
Long-Term Debt / Total Capital	11.17	12.51	17.93	1.46	-
Total Liabilities / Total Assets	85.42	87.29	91.83	71.98	68.31
EBIT / Interest Expense	-1.9	-0.84	0.36	3.43	-0.59
EBITDA / Interest Expense	-1.78	-0.73	0.44	3.54	-0.47
(EBITDA - Capex) / Interest Expense	-1.79	-0.73	0.43	3.47	-0.53
Total Debt / EBITDA	-12.29	-28.6	16.89	2.21	-9.54
Net Debt / EBITDA	-11.13	-26.48	15.62	1.64	-5.92
Total Debt / (EBITDA - Capex)	-12.23	-28.56	17.21	2.26	-8.45
Net Debt / (EBITDA - Capex)	-11.08	-26.44	15.92	1.67	-5.24
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-78.91	271.46	-45.81	175.62	-57.83
Gross Profit, 1 Yr. Growth %	1.62K	-94.31	-1.77K	189.41	-93.91
EBITDA, 1 Yr. Growth %	97.86	-59.09	-176.43	415.43	-113.07
EBITA, 1 Yr. Growth %	81.79	-56.05	-155.47	500.57	-116.93
EBIT, 1 Yr. Growth %	81.79	-56.05	-155.47	500.57	-116.93
Earnings From Cont. Operations, 1 Yr. Growth %	61.64	-24.66	180.54	-299	-112.12
Net Income, 1 Yr. Growth %	61.64	-24.66	180.54	-351.78	-112.12
Normalized Net Income, 1 Yr. Growth %	37.58	-43.53	-66.94	1.04K	-109.57
Diluted EPS Before Extra, 1 Yr. Growth %	61.64	-24.66	180.54	-351.78	-110.54
Accounts Receivable, 1 Yr. Growth %	-13.35	-2.43	-61.48	99.1	9.69
Inventory, 1 Yr. Growth %	-1.42	-7.04	-18.6	-43.15	0.01
Net Property, Plant and Equip., 1 Yr. Growth %	-5.33	-5.5	-19.85	-3.34	-3.22
Total Assets, 1 Yr. Growth %	-0.73	-2.32	-21.87	-9.7	-5.23
Tangible Book Value, 1 Yr. Growth %	-17.6	-15.95	-54.25	240.96	7.52
Common Equity, 1 Yr. Growth %	-16.74	-15.01	-50.46	206.93	7.17
Cash From Operations, 1 Yr. Growth %	122.82	-93.33	2.34K	-126.62	-138.38
Capital Expenditures, 1 Yr. Growth %	3.19K	-88.16	960.42	474.46	-17.89
Levered Free Cash Flow, 1 Yr. Growth %	4.97K	-9.34	423.98	-121.59	-117.89
Unlevered Free Cash Flow, 1 Yr. Growth %	363.89	-7.47	336.15	-115.92	-148.78
Dividend Per Share, 1 Yr. Growth %	-	-	-	-	-
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-59.41	-11.49	41.88	22.21	7.81
Gross Profit, 2 Yr. CAGR %	-19.07	-1.21	-2.43	595.84	-58.01
EBITDA, 2 Yr. CAGR %	30.9	-10.07	-43.44	98.48	-17.87
EBITA, 2 Yr. CAGR %	48.06	-10.61	-50.12	82.52	0.83
EBIT, 2 Yr. CAGR %	48.06	-10.61	-50.12	82.52	0.83
Earnings From Cont. Operations, 2 Yr. CAGR %	575.93	10.35	45.38	136.28	-50.9
Net Income, 2 Yr. CAGR %	575.88	10.35	45.38	136.28	-44.77
Normalized Net Income, 2 Yr. CAGR %	404.57	-11.86	-56.55	151.09	4.63
Diluted EPS Before Extra, 2 Yr. CAGR %	575.88	10.35	45.38	136.28	-48.49
Accounts Receivable, 2 Yr. CAGR %	0.35	-8.05	-38.7	-12.42	47.78
Inventory, 2 Yr. CAGR %	1.8	-4.27	-13.01	-31.97	-24.59
Net Property, Plant and Equip., 2 Yr. CAGR %	-9.77	-5.42	-12.97	-11.98	-3.28
Total Assets, 2 Yr. CAGR %	0.53	-1.52	-12.64	-17.52	-7.49
Tangible Book Value, 2 Yr. CAGR %	-14.35	-16.78	-37.99	24.9	91.47
Common Equity, 2 Yr. CAGR %	-13.76	-15.88	-35.11	23.31	81.37
Cash From Operations, 2 Yr. CAGR %	768.12	-61.45	27.55	154.86	-68.03
Capital Expenditures, 2 Yr. CAGR %	-54.52	97.28	12.06	680.49	117.19
Levered Free Cash Flow, 2 Yr. CAGR %	157.22	578.07	117.41	6.37	-80.34
Unlevered Free Cash Flow, 2 Yr. CAGR %	198.06	107.18	100.51	-16.67	-72.13
Dividend Per Share, 2 Yr. CAGR %	-	-	-	-	-
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-49.2	-15.1	-24.84	77.03	-14.28
Gross Profit, 3 Yr. CAGR %	-14.39	-66.6	153.69	40.19	43.43
EBITDA, 3 Yr. CAGR %	18.8	-11.19	-14.16	18.14	-19.82
EBITA, 3 Yr. CAGR %	30	-1.23	-23.24	14.33	-17.38
EBIT, 3 Yr. CAGR %	30	-1.23	-23.24	14.33	-17.38
Earnings From Cont. Operations, 3 Yr. CAGR %	126.37	225.3	50.61	61.42	-12.22
Net Income, 3 Yr. CAGR %	126.64	225.28	50.61	61.42	-12.22
Normalized Net Income, 3 Yr. CAGR %	157.06	143.16	-36.19	53.27	-15.5
Diluted EPS Before Extra, 3 Yr. CAGR %	126.64	225.28	50.61	61.42	-16.21
Accounts Receivable, 3 Yr. CAGR %	15.13	-0.59	-31.2	-9.21	-5.6
Inventory, 3 Yr. CAGR %	3.56	-1.23	-9.31	-24.51	-22.65
Net Property, Plant and Equip., 3 Yr. CAGR %	-12.59	-8.37	-10.5	-9.87	-9.15
Total Assets, 3 Yr. CAGR %	3.23	-0.43	-8.84	-12.74	-13.61
Tangible Book Value, 3 Yr. CAGR %	-9.85	-14.89	-31.82	9.45	18.81
Common Equity, 3 Yr. CAGR %	-9.38	-14.18	-29.49	8.93	17.68
Cash From Operations, 3 Yr. CAGR %	15.99	71.29	53.62	-24.34	35.6
Capital Expenditures, 3 Yr. CAGR %	-43.88	-70.96	245.58	93.22	268.45
Levered Free Cash Flow, 3 Yr. CAGR %	-33.24	81.69	521.21	0.68	-41.27
Unlevered Free Cash Flow, 3 Yr. CAGR %	-25.8	101.82	165.19	-13.82	-30.3
Dividend Per Share, 3 Yr. CAGR %	-	-	-	-	-
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-27.43	-9.85	-23.39	-1.78	-13.17
Gross Profit, 5 Yr. CAGR %	-4.1	-47.01	-9.8	12.53	23.55
EBITDA, 5 Yr. CAGR %	30.99	0.57	-11.73	23.07	-15.67
EBITA, 5 Yr. CAGR %	36.77	11.46	-11.38	26.79	-14.39
EBIT, 5 Yr. CAGR %	36.77	11.46	-11.38	26.79	-14.39
Earnings From Cont. Operations, 5 Yr. CAGR %	41.19	28.69	89.62	186.24	-3.81
Net Income, 5 Yr. CAGR %	41.19	28.69	89.76	186.23	-3.81
Normalized Net Income, 5 Yr. CAGR %	48.94	23.25	26.25	146.86	-13.87
Diluted EPS Before Extra, 5 Yr. CAGR %	41.19	28.69	89.76	186.23	-6.46
Accounts Receivable, 5 Yr. CAGR %	10.87	11.92	-10.52	-5.5	-6.59
Inventory, 5 Yr. CAGR %	6.2	3.72	-3.42	-14.92	-15.76
Net Property, Plant and Equip., 5 Yr. CAGR %	-7.04	-7.85	-12.74	-9.83	-7.68
Total Assets, 5 Yr. CAGR %	5.32	4.19	-3.44	-7.66	-8.97
Tangible Book Value, 5 Yr. CAGR %	-6.28	-8.84	-22.38	-0.77	3.04
Common Equity, 5 Yr. CAGR %	-5.97	-8.36	-20.71	-0.79	2.89
Cash From Operations, 5 Yr. CAGR %	41.23	-21.05	20.49	100.8	-18.01
Capital Expenditures, 5 Yr. CAGR %	-61.57	-64.96	-26	8.33	186.99
Levered Free Cash Flow, 5 Yr. CAGR %	-6.06	8.37	7.06	46.52	56.09
Unlevered Free Cash Flow, 5 Yr. CAGR %	3.29	6.05	10.43	41.57	7.69
Dividend Per Share, 5 Yr. CAGR %	-	-	-	-	-