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Vesuvius India

VESUVIUS NSE
₹370.30 +3.25 (+0.89%)
P/E
29.37
View as Markdown
MCP
Close 4 Nov 2026 ₹370.30 −122.45 −24.9% 1Y
Start ₹492.75

Key Fundamentals

MicrocapIndustrial ProductsCapital Goods

Price-based figures as of · EPS basis: Standalone · TTM

ROCE
21.30%
Debt to Equity
0.01
EPS (TTM)
₹12.61
Book Value
₹86.16
Market Cap
—
P/E (TTM)
29.37
P/B
4.30
ROE
15.00%
Dividend Yield
0.41%
EBITDA
₹419 Cr
52W High
₹607.90
52W Low
₹354.05
Day Range
₹365.90 – ₹374.75
Volume
59,491

Peer Comparison

Industrials › Industrial Products › Electrodes & Refractories

Vesuvius peer comparison
Graphite
₹741.4568.02₹14,021 Cr2.420.93%3.11%4.58%₹3,029 Cr₹209 Cr
HEG
₹288.1815.49₹8,779 Cr1.991.41%7.42%8.35%₹2,639 Cr₹358 Cr
Raghav Productivity Enhancers
₹1,808.80117.84₹8,033 Cr29.500.06%24.30%30.30%₹315 Cr₹71 Cr
Vesuvius (this company)
₹370.3029.37₹7,540 Cr4.300.41%15.00%21.30%₹2,134 Cr₹257 Cr
RHI Magnesita
₹363.85—₹7,413 Cr2.110.70%2.83%6.46%₹4,074 Cr−₹353 Cr
Monolithisch
₹1,336.90100.97₹2,745 Cr19.120.00%27.80%34.80%₹154 Cr₹29 Cr
IFGL Refractories
₹172.5430.38₹1,228 Cr1.061.29%3.22%4.92%₹1,953 Cr₹41 Cr
Median 7 companies₹370.3049.20₹7,540 Cr2.420.70%7.42%8.35%₹2,134 Cr₹71 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

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

Overall score

48 Average

Data confidence 100/100

Category scores

Quality
49
Average
Returns, margins, earnings quality 22% weight
Valuation
57
Good
Cheap vs sector & own history 24% weight
Growth
34
Poor
Sales & profit trajectory 9% weight
Financial Health
83
Strong
Solvency, leverage, coverage 9% weight
Momentum
15
Poor
Trend strength, vol-adjusted 12% weight
Ownership
44
Weak
FII/DII/promoter flows 24% weight

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

Key Insights

Strengths

2
  • Company is almost debt free.
  • Company has delivered good profit growth of 34.4% CAGR over last 5 years

No weaknesses listed

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1261
OscillatorsBearish261
Moving AveragesStrong Bearish1000

Key readings

RSI (14)
38.95
Neutral
MACD (12,26,9)
−10.34
Bearish
SMA (50)
402.61
Bearish
SMA (200)
457.36
Bearish

As of

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Dec 2025; 1Y: fiscal year to Dec 2025 against Dec 2024; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+11.63%
5Y+21.58%
3Y+16.14%
1Y+12.57%
TTM+8.93%

Net profit

Net profit growth by window
10Y+13.56%
5Y+37.87%
3Y+31.16%
1Y−0.38%
TTM+2.80%

Operating cash flow

Operating cash flow growth by window
10Y+12.61%
5Y+11.65%
3Y+11.41%
1Y−31.40%
TTM—

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

Operating margin· change in pp

Operating margin growth by window
10Y−0.84 pp
5Y+7.44 pp
3Y+4.87 pp
1Y−1.57 pp
TTM−0.37 pp

Revenue by year

Revenue by year, ₹ crore
Dec 2016₹822 Cr
Dec 2017₹911 Cr
Dec 2018₹925 Cr
Dec 2019₹887 Cr
Dec 2020₹792 Cr
Dec 2021₹1,047 Cr
Dec 2022₹1,343 Cr
Dec 2023₹1,603 Cr
Dec 2024₹1,869 Cr
Dec 2025₹2,104 Cr

Net profit by year

Net profit by year, ₹ crore
Dec 2016₹89.00 Cr
Dec 2017₹94.00 Cr
Dec 2018₹93.00 Cr
Dec 2019₹86.00 Cr
Dec 2020₹53.00 Cr
Dec 2021₹68.00 Cr
Dec 2022₹117 Cr
Dec 2023₹213 Cr
Dec 2024₹265 Cr
Dec 2025₹264 Cr

AI Analysis — Bull vs Bear

Generated 6 Jul 2026
AI opinion · based on fundamentals
Risk medium

Vesuvius India Ltd is a nearly debt-free refractory and flow-control specialist with a market cap of ~₹9,480 Cr, trading at a PE of 36.7x. The company has delivered 34% profit CAGR over 5 years and 12% TTM sales growth, but profit growth has decelerated sharply to 2% TTM while the stock has declined 13% over the past year.

Bull Case 8
  • Nearly debt-free balance sheet provides financial resilience and flexibility for capacity expansion without dilution or interest burden
  • Strong 5-year compounded profit growth of 34% CAGR demonstrates sustained earnings momentum over a meaningful period
  • 3-year ROE averaging 17% and last-year ROE of 15% indicate efficient capital deployment well above cost of equity
  • India's steel capacity expansion — with refractory demand projected to grow at ~4.5% CAGR globally to USD 44 billion by 2033 — provides a structural tailwind as Vesuvius India's primary end-market
  • Promoter (Vesuvius Group UK) holds a stable 55.57% stake, providing technology transfer access and global best practices from a world leader in metal flow engineering
  • Parent company completed a £100m India investment program in 2025 including new alumina-silica and monolithic plants in Visakhapatnam, expanding domestic capacity
  • TTM revenue growth of 12% and 3-year sales CAGR of 16% show consistent top-line expansion above GDP growth rates
  • Q4 CY2024 sales grew 22% YoY to ₹509 Cr, signaling continued market share gains or volume ramp-up from new capacity
Bear Case 6
  • PE ratio of 36.7x is elevated for an industrials/materials company, pricing in significant future growth that may already be reflected
  • TTM profit growth has decelerated sharply to just 2% versus 26% 3-year CAGR, indicating margin compression or rising input costs
  • Stock has declined 13% over the past 1 year despite broader market strength, suggesting the market is repricing growth expectations
  • Q4 CY2024 net profit fell 12.5% sequentially despite 22% YoY sales growth, indicating margin pressure from higher costs or unfavorable product mix
  • Heavy dependence on India's steel and foundry sector creates concentration risk — any cyclical downturn in steel production directly impacts demand
  • Limited free float of 44.4% with institutional holding at ~26.6% can lead to low liquidity and higher price volatility during sell-offs

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

121d ago

TL;DR: Limited recent news flow for Vesuvius India. The only development is a routine trading window closure ahead of Q2FY26 results, which signals earnings are approaching but carries no directional implication. Watch for the upcoming quarterly results for fresh fundamental signals.

Neutral 1
  • Trading window closed for insiders Jun 22

    Vesuvius India shut its trading window for insiders from July 1, 2026, until 48 hours after Q2FY26 results are declared. This is a routine regulatory compliance measure ahead of quarterly earnings.

Quarterly Results

₹ Cr
VESUVIUS quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
405
413
417
453
462
444
509
482
524
547
551
500
536
567
Expenses
335
331
337
358
371
365
427
399
433
455
457
416
450
479
Operating Profit
70
82
80
95
92
79
82
83
91
92
94
84
87
—
OPM %
17%
20%
19%
21%
20%
18%
16%
17%
17%
17%
17%
17%
16%
—
Other Income
8
8
7
8
10
23
7
10
8
7
34
9
10
8
Interest
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Depreciation
8
9
11
10
11
12
13
13
15
17
17
17
18
18
PBT
70
81
76
92
90
90
76
80
85
83
109
75
79
77
Tax %
25%
25%
25%
25%
26%
24%
22%
26%
26%
26%
27%
26%
26%
26%
Net Profit
52
60
57
69
67
68
60
59
63
62
80
56
59
57
EPS (₹)
2.57
2.97
2.81
3.39
3.32
3.37
2.95
2.92
3.1
3.03
3.95
2.75
2.88
—

Sep 2026: from the results filed on 2 Nov 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
VESUVIUS profit and loss, annual, ₹ crore
Particulars Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025TTM
Sales
652
700
822
911
925
887
792
1,047
1,343
1,603
1,869
2,104
2,134
Expenses
552
574
670
745
777
766
714
947
1,178
1,314
1,518
1,743
1,778
Operating Profit
101
126
152
167
148
121
77
100
165
289
350
361
356
OPM %
15%
18%
18%
18%
16%
14%
10%
10%
12%
18%
19%
17%
17%
Other Income
9
10
13
9
23
29
21
20
23
35
48
59
60
Interest
0
1
1
1
1
1
1
1
1
2
4
1.21
1
Depreciation
19
23
27
30
28
27
26
27
30
36
46
62
69
PBT
90
112
136
145
142
123
72
92
157
285
349
356
346
Tax %
34%
35%
35%
35%
35%
31%
26%
26%
26%
25%
24%
26%
—
Net Profit
59
74
89
94
93
86
53
68
117
213
265
264
256
EPS (₹)
2.91
3.63
4.38
4.65
4.56
4.21
2.61
3.35
5.75
10.49
13.03
13.01
12.61
Div. Payout %
24%
17%
15%
15%
15%
21%
27%
24%
14%
12%
11%
12%
—

Balance Sheet

₹ Cr
VESUVIUS balance sheet, annual, ₹ crore
Particulars Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025Jun 2026
Equity Capital
20
20
20
20
20
20
20
20
20
20
20
20
20
Reserves
419
477
562
641
717
784
822
876
977
1,173
1,411
1,644
1,728
Borrowings
0
0
0
0
0
0
0
0
0
13
13
14
14
Other Liabilities
139
147
161
193
188
177
216
292
333
382
402
472
452
Total Liabilities
578
644
743
854
925
981
1,058
1,188
1,331
1,589
1,847
2,150
2,215
Fixed Assets
132
131
124
113
121
124
120
116
194
316
434
622
628
CWIP
20
14
16
38
26
28
21
27
38
86
196
52
47
Investments
0
0
0
0
0
0
0
0
0
0
0
0
0
Other Assets
426
499
603
703
779
829
917
1,045
1,098
1,187
1,217
1,476
1,540
Total Assets
578
644
743
854
925
981
1,058
1,188
1,331
1,589
1,847
2,150
2,215

Cash Flow

₹ Cr
VESUVIUS cash flow, annual, ₹ crore
Particulars Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Operating
65
54
50
191
95
74
102
27
128
82
258
177
Investing
−28
−21
21
2
−310
297
−503
−39
−6
−37
−233
−18
Financing
−14
−15
−15
−16
−17
−17
−14
−14
−16
−18
−27
−30
Net Cash Flow
23
18
56
177
−231
354
−415
−26
106
28
−1
130
Free Cash Flow
43
23
29
151
70
43
87
−5
16
−117
16
102
CFO/OP
98
75
68
149
99
93
158
54
108
52
93
78

Ratios

VESUVIUS financial ratios, annual
Particulars Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Debtor Days
105
118
119
88
72
77
75
57
57
74
75
84
Inventory Days
69
68
77
69
84
77
91
124
92
105
87
92
Days Payable
87
97
98
111
98
89
122
130
112
118
104
114
Cash Conversion Cycle
87
90
98
46
58
65
44
52
38
60
58
62
Working Capital Days
82
91
102
59
58
63
51
55
41
65
62
69
ROCE %
22%
24%
25%
24%
20%
16%
9%
11%
17%
26%
25%
21%

Insights

Beta

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

Log in to view Vesuvius insights

60 extracted metrics across FY09–FY26.

Shareholding Pattern

As of Sep 2026

  • Promoters 55.57%
  • DIIs 21.79%
  • Public 12.98%
  • Others 5.07%
  • FIIs 4.58%
  • Government 0.01%

No promoter shares pledged as of Sep 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 Vesuvius India

What does Vesuvius India Ltd do?
Incorporated in 1991, Vesuvius India Ltd manufactures and trades refractory goods
Where is Vesuvius India Ltd (VESUVIUS) listed?
Vesuvius India Ltd trades as VESUVIUS on the NSE and under code 520113 on the BSE.
Which sector does Vesuvius India Ltd belong to?
Vesuvius India Ltd is classified under the Industrial Products sector, in the Electrodes & Refractories industry.
What is the PE ratio of Vesuvius India Ltd?
Vesuvius India Ltd trades at a PE ratio of 29.37 as of 4 Nov 2026, on earnings per share of ₹12.61, against a book value of ₹86.16 per share.
What is the 52-week high and low of Vesuvius India Ltd?
Over the last 52 weeks Vesuvius India Ltd has traded between ₹354.05 and ₹607.9 as of 4 Nov 2026.
Does Vesuvius India Ltd pay dividends?
Vesuvius India Ltd has a dividend yield of 0.41%.
What is the Return on Equity (ROE) of Vesuvius India Ltd?
Vesuvius India Ltd reported a return on equity of 15.00%. Its debt-to-equity ratio is 0.01.

Company Information

Incorporated in 1991, Vesuvius India Ltd manufactures and trades refractory goods

Website vesuvius.com
CEO Mr. Mohinder Pradip Singh Rajput
Employees 612
Listed 4 Oct 2002
Face Value ₹1

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