---
title: "Vikas Proppant & Granite Ltd (VIKASPROP) — Share Price, Financials & Analysis"
symbol: "VIKASPROP"
company: "Vikas Proppant & Granite Ltd"
canonical: "https://tapetide.com/stocks/VIKASPROP"
isin: "INE767B01022"
nse_symbol: "VIKASPROP"
bse_code: "531518"
sector: "Fast Moving Consumer Goods"
industry: "Agricultural Food & other Products"
market_cap_cr: 13.9
generated_at: "2026-09-13T18:44:39.512Z"
---

# Vikas Proppant & Granite Ltd (VIKASPROP)

Canonical page: https://tapetide.com/stocks/VIKASPROP

## Company

- **NSE Symbol:** VIKASPROP
- **BSE Code:** 531518
- **ISIN:** INE767B01022
- **Sector:** Fast Moving Consumer Goods
- **Industry:** Agricultural Food & other Products
- **Macro Sector:** Fast Moving Consumer Goods
- **Stock Type:** EQUITY
- **Face Value:** ₹1
- **F&O Eligible:** No
- **Website:** vgpl.in

## About

Incorporated in 1994, Vikas Proppant & Granite Ltd is in the business of mining of Granite Blocks and manufacturing of Proppants.[1]

## Latest Price

- **Price:** ₹0.4
- **Change:** 0 (0%)
- **Open:** ₹0.35
- **Day High:** ₹0.4
- **Day Low:** ₹0.3
- **Previous Close:** ₹0.4
- **Volume:** 0
- **As Of:** 2023-04-24T04:29:59+00:00

## Key Fundamentals

Observed at 2026-09-11T04:39:46.611493Z.

- **Market Cap:** ₹13.9 Cr
- **Classification:** Microcap
- **P/E (reported):** -1
- **EPS (reported):** ₹0
- **Book Value:** ₹3.64
- **Price to Book:** 0.07
- **Dividend Yield:** 0%
- **ROE:** -6.07%
- **ROCE:** -6.03%
- **Debt to Equity:** 0.26
- **Revenue (yearly):** ₹23.6 Cr
- **Net Income:** ₹-11.4 Cr
- **EBITDA:** ₹-11.4 Cr
- **52-Week High:** ₹0.38
- **52-Week Low:** ₹0.23
- **RSI (14):** 54.96

## Tapetide Score

- **Score:** 44 / 100
- **Score date:** 2026-09-04
- **Archetype:** Cheap but Weak
- **What it means:** A low multiple sitting on weak financials. Worth establishing what the market is discounting before treating the low valuation as an opportunity — weak fundamentals often justify it.
- **Pillar profile:** Quality: Weak · Valuation: Cheap · Momentum: Falling
- **Percentile:** 25 (of 4473 scored stocks)
- **Confidence:** 88%
- **Data coverage:** 76%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 38.34 | 9% |
| growth | 1.1 | 9% |
| momentum | 2.56 | 12% |
| ownership | 50 | 24% |
| quality | 44.63 | 22% |
| valuation | 76.67 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Stock is trading at 0.07 times its book value

### Weaknesses

- Company has low interest coverage ratio.
- Company has a low return on equity of 9.21% over last 3 years.
- Company might be capitalizing the interest cost
- Company has high debtors of 2,652 days.

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | -251.05% | -135.71% | — |
| ebitda margin growth | -0.1% | -166.66% | -149.37% | 27.71% |
| net income growth | -0.1% | -392.31% | 31% | 15% |
| revenue growth | 0% | 237.14% | -23.54% | -27% |
| roce | — | -338.34% | -123.25% | 0.05% |
| roe | — | -406.57% | 6.09% | -67.99% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 16.06 | 0.13 | 0.15 | 4.26 | 2.43 | 12.65 | 9.4 | 0 | 1.55 | 0 | 0 | 0 |
| Expenses | 0.68 | 0.06 | 0.05 | 1.64 | 0.18 | 8.26 | 9.39 | 0.07 | 17.27 | 0.26 | 0.03 | 0.06 |
| Operating Profit | 15.38 | 0.07 | 0.1 | 2.62 | 2.25 | 4.39 | 0.01 | -0.07 | -15.72 | -0.26 | -0.03 | -0.06 |
| OPM % | 95.77 | 53.85 | 66.67 | 61.5 | 92.59 | 34.7 | 0.11 | — | -1014.19 | — | — | — |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 15.38 | 0.07 | 0.1 | 2.62 | 2.25 | 4.39 | 0.01 | -0.07 | -15.72 | -0.26 | -0.03 | -0.06 |
| Tax % | 26.4 | -1828.57 | 470 | 37.79 | 40.89 | 27.79 | 2900 | 0 | -9.54 | 0 | 0 | 0 |
| Net Profit | 11.33 | 1.35 | -0.38 | 1.63 | 1.33 | 3.17 | -0.27 | -0.07 | -14.21 | -0.26 | -0.03 | -0.06 |
| EPS in Rs | 0.22 | 0.03 | -0.01 | 0.03 | 0.03 | 0.06 | -0.01 | 0 | -0.28 | -0.01 | 0 | 0 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 219 | 140 | 293 | 116 | 3 | 0 | 53 | 7 | 24 | 2 |
| Expenses | 188 | 127 | 278 | 112 | 4 | 0 | 1 | 2 | 23 | 18 |
| Operating Profit | 30 | 14 | 15 | 4 | -1 | 0 | 52 | 5 | 0 | -16 |
| OPM % | 14 | 10 | 5 | 3.3 | -38 | — | 98 | 72 | 1 | -1037 |
| Other Income | 0 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | -12 | 0 |
| Interest | 2 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 14 | 14 | 14 | 12 | 12 | 5 | 0 | 0 | 0 | 0 |
| Profit before tax | 15 | 1 | 1 | -8 | -13 | -6 | 52 | 5 | -11 | -16 |
| Tax % | 39 | 22 | 38 | 18 | 9 | -81 | 14 | 22 | 0 | — |
| Net Profit | 9 | 1 | 0 | -9 | -14 | -1 | 44 | 4 | -11 | -15 |
| EPS in Rs | 0.5 | 0.04 | 0.02 | -0.5 | -0.76 | -0.06 | 0.87 | 0.08 | -0.22 | -0.29 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 129 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Sep 2021 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 18 | 18 | 18 | 18 | 18 | 18 | 51 | 51 | 51 | 51 |
| Reserves | 77 | 77 | 78 | 69 | 55 | 54 | 147 | 148 | 136 | 136 |
| Borrowings | 128 | 106 | 106 | 106 | 106 | 107 | 64 | 57 | 49 | 49 |
| Other Liabilities | 35 | 71 | 69 | 140 | 145 | 136 | 148 | 149 | 153 | 153 |
| Total Liabilities | 258 | 272 | 270 | 333 | 324 | 314 | 410 | 404 | 389 | 389 |
| Fixed Assets | 148 | 134 | 121 | 109 | 86 | 80 | 164 | 164 | 160 | 160 |
| CWIP | 45 | 50 | 47 | 48 | 48 | 48 | 48 | 48 | 28 | 28 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 64 | 88 | 102 | 176 | 191 | 186 | 198 | 193 | 201 | 201 |
| Total Assets | 258 | 272 | 270 | 333 | 324 | 314 | 410 | 404 | 389 | 389 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 28 | 15 | 28 | 3 | -1 | 2 | -7 | 44 | 10 | -16 |
| Cash from Investing Activity | -16 | -30 | -5 | -3 | 0 | 0 | 5 | -83 | 0 | 24 |
| Cash from Financing Activity | 19 | -20 | -23 | 0 | 1 | 0 | 0 | 39 | -10 | -8 |
| Net Cash Flow | 32 | -34 | 0 | 0 | 0 | 2 | -2 | 0 | 0 | 0 |
| Free Cash Flow | 13 | -15 | 23 | 0 | -1 | 2 | -2 | -39 | 10 | 8 |
| CFO/OP | 174 | 54 | 216 | 24 | -20 | -147 | 1562 | 86 | 208 | -6870 |

### Ratios

| Item | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 87 | 47 | 168 | 99 | 518 | 19379 | — | 1214 | 8924 | 2652 |
| Inventory Days | 135 | 68 | 61 | 19 | 12 | 0 | — | — | — | — |
| Days Payable | 153 | 49 | 184 | 79 | 424 | — | — | — | — | — |
| Cash Conversion Cycle | 68 | 66 | 45 | 39 | 105 | 19379 | — | 1214 | 8924 | 2652 |
| Working Capital Days | -32 | 26 | 68 | 46 | 132 | -6500 | — | -123 | -909 | -65 |
| ROCE % | 4 | 8 | 1 | 0 | -4 | -7 | -3 | 23 | 2 | 0 |

## Shareholding Pattern

### Quarterly

| Category | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 |
| --- | --- | --- | --- | --- | --- |
| Promoters | 22.06% | 22.06% | 22.06% | 22.06% | 22.06% |
| FIIs | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% |
| Public | 68.19% | 68.64% | 69.61% | 72.99% | 73.81% |
| Others | 9.76% | 9.3% | 8.34% | 4.95% | 4.13% |
| No. of Shareholders | 49916 | 55353 | 54857 | 70803 | 94295 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 2 / 6 / 11

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 0.27 | Sell |
| EMA (10) | 0.26 | Sell |
| SMA (20) | 0.26 | Sell |
| EMA (20) | 0.26 | Sell |
| SMA (50) | 0.26 | Sell |
| EMA (50) | 0.42 | Sell |
| SMA (100) | 0.28 | Sell |
| EMA (100) | 1.44 | Sell |
| SMA (200) | 4.74 | Sell |
| EMA (200) | 2.58 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 47.81 | Neutral |
| MACD (12,26,9) | 0 | Sell |
| Stochastic (14,3,3) | 63.33 | Neutral |
| ADX (14) | 28.99 | Buy |
| Williams %R (14) | -50 | Neutral |
| ATR (14) | 0.02 | High Volatility |
| ROC (12) | 4 | Buy |
| Stoch RSI (14) | 31 | Neutral |
| UO (7,14,28) | 44.1 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2025-01-08 | [Disclosures under Reg. 29(2) of SEBI (SAST) Regulations 2011](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0C618FF7_BDE9_4F82_80EA_A0EA03FF631E_144703.pdf) |
| 2023-04-18 | [Corporate Insolvency Resolution Process (CIRP)-Outcome of meeting of Committee of Creditors](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=01c20eee-2e3c-441d-8d6f-d3aa4df7c241.pdf) |
| 2023-04-16 | [Corporate Insolvency Resolution Process (CIRP)-Outcome of meeting of Committee of Creditors](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=28dfc8ef-e827-41cd-8baa-76e6c315a818.pdf) |
| 2023-04-14 | [Corporate Insolvency Resolution Process (CIRP)-Intimation of meeting of Committee of Creditors](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d6c17844-483e-499d-a892-01ee09dba623.pdf) |
| 2023-02-23 | [Corporate Insolvency Resolution Process (CIRP)-Filing of Resolution plan with Tribunal](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1f7ca946-4f5c-4c36-9790-f4b53fdf0699.pdf) |
| 2023-02-17 | [Corporate Insolvency Resolution Process (CIRP)-Updates - Corporate Insolvency Resolution Process (CIRP)](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e088054c-b1a7-4b87-b50b-d3b5c737f225.pdf) |
| 2023-02-08 | [Corporate Insolvency Resolution Process (CIRP)-Outcome of meeting of Committee of Creditors](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=09b114ab-412e-4002-a72b-2aa872ca54ba.pdf) |
| 2023-02-07 | [Corporate Insolvency Resolution Process (CIRP)-Intimation of meeting of Committee of Creditors](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=57dcaed5-8df5-43bc-b56b-70e9b1dc4957.pdf) |
| 2023-01-23 | [Corporate Insolvency Resolution Process (CIRP)-Outcome of meeting of Committee of Creditors](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0c4dccc4-630e-402b-8b39-834cca2c0d4d.pdf) |
| 2023-01-21 | [Corporate Insolvency Resolution Process (CIRP)-Intimation of meeting of Committee of Creditors](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1076467e-9c2e-4d07-9d24-537c9126ec7c.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 23 Feb 2023 - The resolution plan of Mr. Kailashchand Mittal as approved by Committee of Creditors ('CoC') has been submitted with the Hon''ble National Company Law Tribunal, Chandigarh … | [Corporate Insolvency Resolution Process (CIRP)-Filing of Resolution plan with Tribunal 23 Feb 2023 - The resolution plan of Mr. Kailashchand Mittal as approved by Committee of Creditors ('CoC') has been submitted with the Hon''ble National Company Law Tribunal, Chandigarh …](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1f7ca946-4f5c-4c36-9790-f4b53fdf0699.pdf) |
| 18 Apr 2023 - In continuation of our earlier intimation dated April 15, 2023 and pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015 (LODR) and in accordance with … | [Corporate Insolvency Resolution Process (CIRP)-Outcome of meeting of Committee of Creditors 18 Apr 2023 - In continuation of our earlier intimation dated April 15, 2023 and pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015 (LODR) and in accordance with …](https://www.bseindia.com/xml-data/corpfiling/AttachHis/01c20eee-2e3c-441d-8d6f-d3aa4df7c241.pdf) |
| 16 Apr 2023 - Post-facto intimation of creditors' meeting. | [Corporate Insolvency Resolution Process (CIRP)-Outcome of meeting of Committee of Creditors 16 Apr 2023 - Post-facto intimation of creditors' meeting.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/28dfc8ef-e827-41cd-8baa-76e6c315a818.pdf) |
| 14 Apr 2023 - Ninth Meeting of Committee of Creditors on April 15, 2023. | [Corporate Insolvency Resolution Process (CIRP)-Intimation of meeting of Committee of Creditors 14 Apr 2023 - Ninth Meeting of Committee of Creditors on April 15, 2023.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d6c17844-483e-499d-a892-01ee09dba623.pdf) |
| — | [Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 8 Jan 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/0C618FF7_BDE9_4F82_80EA_A0EA03FF631E_144703.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2022-02-14 | [Financial Results For Quarter Ended As On 31St December 2021](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=89961a18-f4b0-4331-8966-a94bf3b4deeb.pdf) |
| 2022-02-09 | [Intimation Pursuant To Regulation 23(9) Of SEBI (LODR) Regulations, 2015 For The Half Year Ended 30Th September 2021](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0dfca5df-a5d2-4475-a79c-b6840625a538.pdf) |
| 2022-01-11 | [Board Meeting Outcome for Approval Of The Unaudited Financial Results Of The Company For Quarter Ended On 30Th September 2021.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=794bccea-3bf9-49d6-81fb-85f421ba2b89.pdf) |
| 2022-01-11 | [Results - Q2 {Sep 2021} Financial Year 2021-22](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0e7aa6b2-de9a-4df7-b79f-cd2917d824d2.pdf) |
| 2021-11-13 | [Board Meeting Outcome for Outcome Of The Board Meeting](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d344cc5e-da6f-4593-99d6-d800cf260b72.pdf) |
| 2021-11-13 | [Unaudited Financial Results For Quarter Ended June 30Th 2021](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=242fc8f1-b4a4-4d58-a859-ca1859731511.pdf) |
| 2021-07-03 | [Intimation Pursuant To Regulation 23(9) Of SEBI (LODR) Regulations, 2015 For The Half Year Ended 30Th September 2020](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4aa61fd4-1fce-488a-941e-e8727bdd37ca.pdf) |
| 2021-07-01 | [Disclosure On Related Party Transaction For The Year Ended 31St March 2021 Pursuant To Regulation 23(9) Of SEBI (LODR) Regulations, 2015](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0448174a-6090-4cd5-8e15-0a9f6e085eeb.pdf) |
| 2021-06-23 | [Audited Financial Result For The Financial Quarter & Year Ended March 31, 2021](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6c204569-50e0-4406-9b42-cfcd7d9f191b.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/531518/72325531518.pdf) |
| from bse | [Annual Report 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/531518/66047531518.pdf) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/531518/5315180319.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/531518/5315180318.pdf) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/531518/5315180317.pdf) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/531518/5315180316.pdf) |
| from bse | [Annual Report 2015 from bse](https://www.bseindia.com/bseplus/AnnualReport/531518/5315180315.pdf) |
| from bse | [Annual Report 2014 from bse](https://www.bseindia.com/bseplus/AnnualReport/531518/5315180314.pdf) |
| from bse | [Annual Report 2013 from bse](https://www.bseindia.com/bseplus/AnnualReport/531518/5315180313.pdf) |
| from bse | [Annual Report 2012 from bse](https://www.bseindia.com/bseplus/AnnualReport/531518/5315180312.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:44:39.512Z.