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VSF Projects

519331 BSE
₹31.64

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P/E
Not meaningful: loss-making over the last twelve months
View as Markdown
MCP
Close 3 Nov 2026 ₹31.64 −12.61 −28.5% 1Y
Start ₹44.25

Key Fundamentals

MicrocapConstructionIndustrials

Price-based figures at the close · EPS basis: Standalone · TTM

ROCE
−0.14%
Debt to Equity
0.86
EPS (TTM)
−₹0.28
Book Value
₹48.32
Market Cap
—
P/E (TTM)
Not meaningful: loss-making over the last twelve months
P/B
0.65
ROE
−0.44%
Dividend Yield
0.00%
EBITDA
₹60.00 L
52W High
₹52.44
52W Low
₹27.01

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

45 Average

Data confidence 80/100

Category scores

Quality
40
Weak
Returns, margins, earnings quality 24% weight
Valuation
62
Good
Cheap vs sector & own history 26% weight
Financial Health
9
Poor
Solvency, leverage, coverage 10% weight
Momentum
41
Weak
Trend strength, vol-adjusted 13% weight
Ownership
50
Average
FII/DII/promoter flows 26% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Stock is trading at 0.53 times its book value

Weaknesses

3
  • Company has low interest coverage ratio.
  • Company has a low return on equity of -0.43% over last 3 years.
  • Company might be capitalizing the interest cost

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1252
OscillatorsBearish351
Moving AveragesStrong Bearish901

Key readings

RSI (14)
45.91
Neutral
MACD (12,26,9)
−0.60
Bearish
SMA (50)
32.64
Bearish
SMA (200)
35.94
Bearish

As of

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y−100.00%
5Y−100.00%
3Y−100.00%
1YZero base
TTMZero base

Net profit

Net profit growth by window
10YTurned to loss
5YTurned to loss
3YTurned to loss
1YLoss widened by ₹0.14 Cr
TTMLoss widened by ₹0.26 Cr

Operating cash flow

Operating cash flow growth by window
10YTurned positive
5YTurned positive
3YTurned positive
1Y+57.76%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10YNo sales
5YNo sales
3YNo sales
1YNo sales
TTMNo sales

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹1.26 Cr
Mar 2018₹0.00 Cr
Mar 2019₹2.74 Cr
Mar 2020₹1.24 Cr
Mar 2021₹1.74 Cr
Mar 2022₹1.65 Cr
Mar 2023₹1.63 Cr
Mar 2024₹0.22 Cr
Mar 2025₹0.00 Cr
Mar 2026₹0.00 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017−₹0.47 Cr
Mar 2018−₹0.93 Cr
Mar 2019−₹7.27 Cr
Mar 2020₹0.05 Cr
Mar 2021₹0.15 Cr
Mar 2022−₹0.08 Cr
Mar 2023₹0.01 Cr
Mar 2024₹35.35 Cr
Mar 2025−₹0.29 Cr
Mar 2026−₹0.43 Cr

Quarterly Results

₹ Cr
519331 quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
0
0
0
0.22
0
0
0
0
0
0
0
0
0
Expenses
0.23
0.16
0.05
−0.09
0.14
0.31
0.01
0.07
0.12
0.14
0.15
0.21
0.14
Operating Profit
−0.23
−0.16
−0.05
0.31
−0.14
−0.31
−0.01
−0.07
−0.12
−0.14
−0.15
−0.21
−0.14
OPM %
—
—
—
140.91%
—
—
—
—
—
—
—
—
—
Other Income
0
0
0
35.54
0
0
0.21
0.21
0.19
0.22
0.12
0.11
0.1
Interest
0
0
0
0
0
0
0
0.03
0.02
0.02
0.12
0.01
0.02
Depreciation
0
0.03
0.02
0.02
0.02
0.02
0.04
0.06
0.07
0.08
0.09
0.01
0.07
PBT
−0.23
−0.19
−0.07
35.83
−0.16
−0.33
0.16
0.05
−0.02
−0.02
−0.24
−0.12
−0.13
Tax %
−4.35%
10.53%
−14.29%
−0.03%
−6.25%
3.03%
−6.25%
60%
100%
−100%
−16.67%
50%
−53.85%
Net Profit
−0.22
−0.21
−0.06
35.84
−0.15
−0.35
0.17
0.03
−0.04
0
−0.21
−0.18
−0.06
EPS (₹)
−0.13
−0.13
−0.04
21.85
−0.09
−0.21
0.11
0.02
−0.02
0
−0.13
−0.11
−0.04

Profit & Loss

₹ Cr
519331 profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
4.47
9.14
1.26
0
2.74
1.24
1.74
1.65
1.63
0.22
0
0
0
Expenses
3.46
7.84
1.04
0.22
9.6
0.91
1.44
1.54
1.51
0.33
0.53
0.62
0.64
Operating Profit
1.01
1.3
0.22
−0.22
−6.86
0.33
0.3
0.11
0.12
−0.11
−0.53
−0.62
−0.64
OPM %
22.6%
14.22%
17.46%
—
−250.36%
26.61%
17.24%
6.67%
7.36%
−50%
—
—
—
Other Income
0
0.12
−0.05
−0.04
0
0.02
0
0
0
35.52
0.43
0.64
0.55
Interest
0.52
0.53
0.47
0.51
0.22
0.12
0
0
0
0
0.03
0.17
0.17
Depreciation
0.43
0.34
0.24
0.23
0.21
0.2
0.19
0.12
0.06
0.06
0.14
0.26
0.25
PBT
0.06
0.55
−0.54
−1
−7.29
0.03
0.11
−0.01
0.06
35.35
−0.27
−0.41
−0.51
Tax %
283.33%
56.36%
−12.96%
−7%
−0.27%
−66.67%
−45.45%
700%
83.33%
0%
7.41%
7.32%
—
Net Profit
−0.1
0.24
−0.47
−0.93
−7.27
0.05
0.15
−0.08
0.01
35.35
−0.29
−0.43
−0.45
EPS (₹)
−0.07
0.16
−0.32
−0.63
−4.95
0.03
0.1
−0.05
0.01
21.55
−0.18
−0.26
−0.28
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
—

Balance Sheet

₹ Cr
519331 balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
5.87
5.87
5.87
5.87
5.87
5.87
5.87
5.87
6.58
6.58
16.4
16.4
Reserves
23.81
24.06
18.29
17.36
−5.72
−5.67
−5.52
−5.6
−3.11
43.62
82.37
81.93
Borrowings
15.95
15.74
2.22
16.38
15.28
15.65
15.65
15.65
14.93
31.54
60.44
84.69
Other Liabilities
42.45
49.47
63.38
49.72
50.49
49.99
49.57
49.65
48.83
9.5
12.59
8.36
Total Liabilities
88.08
95.14
89.76
89.33
65.92
65.84
65.57
65.57
67.23
91.24
172
191
Fixed Assets
27.73
27.07
26.69
26.36
64.06
63.84
63.65
63.53
63.48
63.38
65.26
65.56
CWIP
0
0
0
0
0
0
0
0
1.58
20.87
88.54
116
Investments
53.72
53.72
53.72
53.72
0
0
0
0
0
0
0
0
Other Assets
6.63
14.35
9.35
9.25
1.86
2
1.92
2.04
2.17
6.99
18
9.48
Total Assets
88.08
95.14
89.76
89.33
65.92
65.84
65.57
65.57
67.23
91.24
172
191

Cash Flow

₹ Cr
519331 cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
0.2
−0.53
−0.24
−0.45
1.28
−0.24
−0.02
−0.02
−0.88
−3.94
18.37
28.98
Investing
−0.22
0.27
0.14
0.11
0
0.04
0
0
−1.59
−19.29
−69.69
−28.36
Financing
0
0.38
0.1
0.29
−1.32
0.25
0
0
2.47
26.6
48.83
−0.17
Net Cash Flow
−0.02
0.12
0
−0.05
−0.04
0.05
−0.02
−0.02
0
3.37
−2.5
0.45
Free Cash Flow
0.2
−0.25
−0.1
−0.34
1.28
−0.2
−0.02
−0.02
−2.47
−23.23
−51.32
0.61
CFO/EBITDA
46
−35
−36
205
−19
−73
−7
0
−725
3,545
−3,475
−4,674

Ratios

519331 financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
355
480
2,092
—
1.33
2.94
2.1
2.21
0
0
—
—
Inventory Days
—
—
0
—
0
0
0
0
0
—
—
—
Cash Conversion Cycle
355
480
2,092
—
1.33
2.94
2.1
2.21
0
0
—
—
Working Capital Days
−1,050
−468
−4,907
—
−3,210
−6,961
−4,669
−4,911
−4,758
−9,888
—
—
ROCE %
1.27%
2.48%
−0.06%
−1.36%
−25.69%
0.96%
0.69%
−0.06%
0.35%
−0.26%
−0.2%
−0.14%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view VSF Projects insights

60 extracted metrics across FY08–FY27.

Shareholding Pattern

As of Sep 2026

  • Public 52.67%
  • Promoters 43.66%
  • Others 2.34%
  • DIIs 1.33%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about VSF Projects

What does VSF Projects Ltd do?
VSF Projects Ltd is developing a multi-product Free Trade Warehousing Zone (FTWZ/SEZ) with an Inland Container Depot on its own 53.81-hectare site near Krishnapatnam Port in Tirupati district, Andhra Pradesh; its earlier shrimp-export and civil-construction activities are legacy businesses, not…
Where is VSF Projects Ltd (VSFPROJ) listed?
VSF Projects Ltd trades under code 519331 on the BSE.
Which sector does VSF Projects Ltd belong to?
VSF Projects Ltd is classified under the Construction sector, in the Civil Construction industry.
What is the 52-week high and low of VSF Projects Ltd?
Over the last 52 weeks VSF Projects Ltd has traded between ₹27.01 and ₹52.44 as of 3 Nov 2026.
What is the Return on Equity (ROE) of VSF Projects Ltd?
VSF Projects Ltd reported a return on equity of -0.44%. Its debt-to-equity ratio is 0.86.

Company Information

VSF Projects Ltd is developing a multi-product Free Trade Warehousing Zone (FTWZ/SEZ) with an Inland Container Depot on its own 53.81-hectare site near Krishnapatnam Port in Tirupati district, Andhra Pradesh; its earlier shrimp-export and civil-construction activities are legacy businesses, not current operating revenue sources.

Website vsfprojects.com
Face Value ₹10

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