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Vikas WSP Ltd (VIKASWSP)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 519307 NSE: VIKASWSP Chemicals | Small Cap | Vikas WSP Share Price

₹0.96 -0.01 (-1.03%)

As on 04-Jun'26 16:59

Vikas WSP Ltd (VIKASWSP)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 519307 NSE: VIKASWSP Chemicals | Small Cap | Vikas WSP Share Price

₹0.96 -0.01 (-1.03%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹20 Cr.
Current Price
₹1
52-Week Low / High
₹1 / 2
TTM EPS
₹-3.3
TTM Sales
₹0 Cr.
Book Value per Share
₹35.3
P/E Ratio
0.00
Industry PE
50.2
Price to Book (P/B)
0.03
Lower than its 5-year historical median
Price to Sales (P/S)
0.00
EV/EBITDA
-3.00
Higher than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
-3.32%
Underperforms industry median
Return on Capital Employed (ROCE)
-3.21%
Underperforms industry median
Return on Assets (ROA)
-1.88%
Operating Profit Margin
0%
Net Profit Margin
-%
Gross Profit Margin
0%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
-
-
Operating Profit Growth (1 Year)
-
-
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
14.56%
Pledged shares (%) of Promoter's holding (%)
56.92%
Reserves
₹700 Cr.
Equity
₹20.4 Cr.
Face Value
₹1
All Time Low / High
₹0.80 / 153.90

Vikas WSP stock performance

Key Ratios
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Check Before You Invest

M-Cap below 100cr DeciZen not available

Q.1 Is Vikas WSP Ltd a good quality company?
Vikas WSP Ltd is a quality company, based on a multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Vikas WSP Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Vikas WSP Ltd vs industry peers?
Vikas WSP Ltd revenue CAGR is -100.00%, compared to the industry median CAGR of 7.53%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of Vikas WSP Ltd?
Promoters hold 14.56% of the Vikas WSP Ltd, with 56.92% of their stake pledged, indicating high pledge risk.
Q.1 Stock return of Vikas WSP Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of -16.6% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Vikas WSP Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % -14.1%-4.2%6.1%5.4%1.8%-6.4%-13%-3.1%-3.1%-3.2%-
Value Creation
Index
-2.0-1.3-0.6-0.6-0.9-1.5-1.9-1.2-1.2-1.2-

Growth Parameters

Sales 57319469680075822223.10000
Sales YoY Gr.--66.2%259.7%14.9%-5.3%-70.8%-89.6%-100%NANA-
Adj EPS -27.2-61.51.31-5.6-4.5-1.6-1.3-1.3-3.3
YoY Gr.-NANA-14.3%-17.5%-638.5%NANANANA-
BVPS (₹) 77.471.254.8555650.742.741.139.838.535.3
Adj Net
Profit
-373-82.928.525.821.4-115-91.7-32.7-26.6-26.6-67
Cash Flow from Ops. 37.15.9-67.6-4.524.80.2-10.100-
Debt/CF from Ops. 4.627.1-2.7-34.45.5564.6-324.2413313690.6766671.8-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales -100%-100%-100%NA
Adj EPS NA-204.6%NANA
BVPS-7.5%-7.2%-3.4%-3.3%
Share Price -15.9% -31.3% -8.2% -37.3%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
-30-8.12.82.41.9-10.5-9.6-3.8-3.2-3.3-8.9
Op. Profit
Mgn %
-32.3-6.915.397.6-19.4-59.4000NAN
Net Profit
Mgn %
-65.2-42.84.13.22.8-51.7-397.2000-INF
Debt to
Equity
0.20.20.20.10.10.10.40.40.40.40
Working Cap
Days
5231,3914354374901,66015,0430000
Cash Conv.
Cycle
2125621752162729819,1380000

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales572.94193.59696.28799.98757.63221.6123.10000
Operating Expenses + 758.24213.08594.18727.74699.79264.6036.812.011.581.60
Manufacturing Costs14.4814.718.504.022.495.272.160.190.180.16
Material Costs699.63172.93559.48686.03673.91236.7732.49000
Employee Cost 15.1416.9018.8335.0321.678.501.410.640.660.67
Other Costs 28.988.547.372.661.7214.060.751.180.740.78
Operating Profit -185.30-19.49102.1072.2457.84-42.98-13.71-2.01-1.58-1.60
Operating Profit Margin (%) -32.3%-10.1%14.7%9.0%7.6%-19.4%-59.4%---
Other Income + 20.484.854.8830.170000.250.250.27
Exceptional Items 000000-102.56000
Interest 26.3245.5646.5421.504.2831.0338.61000
Depreciation 35.0234.7034.7134.5434.3534.3734.1634.1634.1634.16
Profit Before Tax -226.15-94.9025.7446.3719.20-108.39-189.04-35.92-35.49-35.49
Tax 133.42-10.91-3.22-0.56-2.146.13-25.51-3.19-8.87-8.88
Profit After Tax -359.57-8428.9646.9221.35-114.52-163.53-32.73-26.62-26.61
PAT Margin (%) -62.8%-43.4%4.2%5.9%2.8%-51.7%-708.0%---
Adjusted EPS (₹)-26.2-6.11.52.31.0-5.6-8.0-1.6-1.3-1.3
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Valuation of Vikas WSP - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 1,063.44979.131,065.081,125.171,145.071,035.72872.54840.11813.66787.17
Share Capital 13.7413.7419.4420.4420.4420.4420.4420.4420.4420.44
Reserves 1,049.70965.381,045.641,104.731,124.631,015.27852.10819.67793.22766.73
Debt +168.74159.19181.64155.29135.65106.38306.67306.67306.67306.67
Long Term Debt0000000000
Short Term Debt168.74159.19181.64155.29135.65106.38306.67306.67306.67306.67
Minority Interest0000000000
Trade Payables114.33117.04128.4690.2377.2849.4945.9845.9846.0346.12
Others Liabilities 194.67238.03277.95299.92333.75392.95272.86276.23268.55260.94
Total Liabilities 1,541.181,493.381,653.141,670.611,691.751,584.531,498.061,468.991,434.921,400.90

Fixed Assets

Net Fixed Assets +784.26748.70714.58668.43634.07600.01565.75531.59497.43463.27
Gross Block1,174.471,173.611,174.201,162.591,162.591,162.901,162.801,162.801,162.801,162.80
Accumulated Depreciation390.21424.91459.62494.16528.52562.89597.05631.21665.37699.53
CWIP 12.7910.5310.5311.0911.5611.560000
Investments 0000000000
Inventories108.7684.6499.1110173.0336.032.072.072.072.07
Trade Receivables281.92309.61450.53525.25605.61575.21575.13575.13575.13575.13
Cash Equivalents 1.291.161.141.351.841.240.395.515.545.54
Others Assets 352.16338.75377.26363.49365.63360.48354.71354.69354.75354.89
Total Assets 1,541.181,493.381,653.141,670.611,691.751,584.531,498.061,468.991,434.921,400.90

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 37.115.89-67.62-4.5124.770.19-0.950.070.020
PBT -226.15-94.9025.7446.3719.20-108.39-189.04-35.92-35.49-35.49
Adjustment 60.6680.8580.5027.6940.6630.1245.9034.3034.4934.59
Changes in Working Capital 201.4521.87-173.84-78.57-35.178.46142.21.691.020.91
Tax Paid 1.15-1.93-00000000
Cash Flow From Investing Activity + -4.707.801.0623.54-0.47-0.310.10000
Capex -5.977.760.5923.50-0.47-0.310.10000
Net Investments 0000000000
Others 1.270.030.470.04000000
Cash Flow From Financing Activity + -32.12-13.8166.54-18.81-23.81-0.080000
Net Proceeds from Shares 006811.81000000
Net Proceeds from Borrowing 0000000000
Interest Paid -16.77-4.27-7.21-4.28-4.16-0.080000
Dividend Paid 0000000000
Others -15.35-9.545.74-26.35-19.6400000
Net Cash Flow 0.29-0.13-0.020.210.49-0.20-0.850.070.020

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)-28.92-8.222.834.281.88-10.5-17.14-3.82-3.22-3.32
ROCE (%)-14.08-4.166.065.371.83-6.39-12.96-3.09-3.13-3.21
Asset Turnover Ratio0.350.130.440.480.450.140.02000
PAT to CFO Conversion(x)N/AN/A-2.33-0.11.16N/AN/AN/AN/AN/A
Working Capital Days
Receivable Days156557.50199.20222.60272.40972.409,090000
Inventory Days99.80182.3048.2045.7041.9089.80301.10000
Payable Days46.70244.2080.1058.2045.4097.70536.40000

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *56.9256.9256.9256.9256.9256.9256.9256.9256.9256.92
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Vikas WSP Ltd FAQs

The current trading price of Vikas WSP on 04-Jun-2026 16:59 is ₹0.96.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 03-Jun-2026 the market cap of Vikas WSP stood at ₹19.63 Cr

The latest P/E ratio of Vikas WSP as of 03-Jun-2026 is 0.00.

The latest P/B ratio of Vikas WSP as of 03-Jun-2026 is 0.03.

The 52-week high of Vikas WSP is ₹1.61 and the 52-week low is ₹0.80.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Vikas WSP is ₹0.00 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Vikas WSP Ltd is a below average quality company.

The key valuation ratios of Vikas WSP Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Vikas WSP Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Vikas WSP Ltd

The company Vikas WSP Limited was established in 1998. It is one of India's foremost guar gum powder (GGP) manufacturer, supplying to all sectors of the food industry with an extensive range of quality products. Besides food, the company also offers guar gum for technical applications such as pet food, oil drilling, textile printing, mining paper, etc. Annual production capacity of all grades of guar gum powder is 39900 MT. The company is committed to provide better products in a timely and efficient manner.

Guar gum powder (seed gum) is predominantly guar glactomannan obtained from the endosperm of guar seed the legume cyamopsis tetragonolobus -- an annual plant of the arid and semi-arid regions of the Indian subcontinent.

Vikas WSP is the world’s leading and India’s largest manufacturer and exporter of guar gum powder (GGP). The company started to meet out growing global demand of GGP by establishing two 100% export oriented units at Sriganganagar (Rajasthan). The company has encouraged guar cultivation locally, which was hitherto considered a neglected crop.

By developing guar gum tailoring techniques for food and industrials applications, Vikas WSP Ltd, has achieved international recognition. The company supplies guar products to food manufacturers in almost all the continents. With commitment to manufacture excellent food grade GGP, the company has established well-equipped laboratory including microbiological testing facility. The company has also implemented international QC systems such as ISO– 9001: 2000 Quality Management System, HACCP based Food Safety System September 2002 and follow guidelines for Good Manufacturing Practices (GMP), Vikas WSP Ltd. has the privilege to be the world’s dominating food grade GGP producer who has implemented HACCP – Food Safety System. Company has also awarded Three Star Export House by NOIDA Export Processing Zone, Ministry of Commerce & Industry.

Besides food applications, Vikas WSP also manufactures guar gum products for highly specified applications such as oil and natural gas exploration, explosives and mining. The company has achieved the status of most preferred supplier, among the international buyers and is categorized as an excellent vendor by the customers while conducting QC audits/ inspections. The company is committed to maintain and enhance the faith of its present and prospective customers.

Product Variety:

The company is engaged in production of Food Grade Guar Gum Powder

All the units producing food grade guar gum comply with requirement, applicable as per WHO good manufacturing practice guidelines. Utmost attention is given to factory landscaping , overall landscaping, overall cleanliness, plant hygiene and sanitation. before putting into use for production, batchwise potability of water is ensured as per WHO standards. 

Guar Gum produced by the company are used in :

  • Bakery
  • Noodles
  • Ice Cream
  • Diet Foods
  • Meat and Fish products
  • Sausage Coatings
  • Pet Foods and many more

Certification:

  • WHO GMP Certificate
  • HACCP Certificate
  • Kosher Certificate
  • ISO 90012000 certified
  • International Quality - The units of the company have been accredited for the following quality standards by DNV Certification.
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