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VSF Projects Ltd (519331)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 519331 NSE: Engineering - Construction | Small Cap | VSF Projects Share Price

₹34.18 0.33 (0.97%)

As on 04-Jun'26 16:59

VSF Projects Ltd (519331)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 519331 NSE: Engineering - Construction | Small Cap | VSF Projects Share Price

₹34.18 0.33 (0.97%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹56 Cr.
Current Price
₹34.2
52-Week Low / High
₹28 / 64
TTM EPS
₹-0.3
TTM Sales
₹0 Cr.
Book Value per Share
₹59.8
P/E Ratio
0.00
Industry PE
29.9
Price to Book (P/B)
0.57
Higher than its 5-year historical median
Price to Sales (P/S)
0.00
Lower than its 5-year historical median
EV/EBITDA
6661.01
Higher than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
0.00%
Underperforms industry median
Return on Capital Employed (ROCE)
0.00%
Underperforms industry median
Return on Assets (ROA)
44.66%
Operating Profit Margin
-48.1%
Net Profit Margin
16066%
Gross Profit Margin
-41.4%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-86.5%
Operating Profit Growth (1 Year)
-
-200%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
353400%
Asset Quality
Promoter Holding
43.65%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹82 Cr.
Equity
₹16.4 Cr.
Face Value
₹10
All Time Low / High
₹3.56 / 82.72

VSF Projects stock performance

Key Ratios
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Check Before You Invest

M-Cap below 100cr DeciZen not available

Q.1 Is VSF Projects Ltd a good quality company?
VSF Projects 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 VSF Projects Ltd performance compare with that of its Peers?
Q.1 Revenue growth of VSF Projects Ltd vs industry peers?
VSF Projects Ltd revenue CAGR is -39.61%, compared to the industry median CAGR of 0%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of VSF Projects Ltd?
Promoters hold 43.65% of the VSF Projects Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of VSF Projects Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 15.9% 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.
VSF Projects 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'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
ROCE % 2.2%4.1%-0.4%-3.6%0%0%0%0%0%0%-
Value Creation
Index
-0.8-0.7-1.0-1.3NANANANANANA-

Growth Parameters

Sales 4.59.11.302.71.21.71.71.60.20
Sales YoY Gr.-104.5%-86.2%-100%NA-54.7%40.3%-5.2%-1.2%-86.5%-
Adj EPS -0.10.3-0.5-1-7.900.2-0.1010.2-0.3
YoY Gr.-NA-256.7%NANANA466.7%-152.9%NA101400%-
BVPS (₹) 11.311.55.34.3-61.8-20.7-20.5-20.6-51.9-17.859.8
Adj Net
Profit
-0.10.3-0.4-0.9-7.300.2-0.1010.5-0
Cash Flow from Ops. 0.2-0.5-0.2-0.51.3-0.2-0-0-0.9-3.9-
Debt/CF from Ops. 80.7-29.6-9.4-36.211.9-64.6-727.7-711.2-17-8-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales -28.4%-39.6%-49.8%-86.5%
Adj EPS NANA290.9%101400%
BVPS-205.2%NANANA
Share Price 16% 44% -1.5% -36.9%

Key Financial Parameters

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity %
-0.30.9-1.6-3.8-62.218.355.6-25.80.839.2-1.2
Op. Profit
Mgn %
22.814.217.40-250.926.217.16.57.7-48.1NAN
Net Profit
Mgn %
-2.33-34.50-265.42.68.8-4.90.94776.7-INF
Debt to
Equity
1.51.50.54.2-0.3-0.8-0.8-0.8-0.3-1.70.9
Working Cap
Days
4494153,40107375553934194524,6540
Cash Conv.
Cycle
1372361,7080-3,007-8,009-5,124-4,989-5,553-36,0500

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales4.479.141.2602.741.241.741.651.630.22
Operating Expenses + 3.457.841.090.299.610.921.441.541.510.35
Manufacturing Costs1.185.7400.020.220.080.110.0700.02
Material Costs1.381.320.0801.310.300.710.850.560
Employee Cost 0.360.260.410.040.260.260.350.320.440
Other Costs 0.530.520.600.237.820.280.280.300.500.32
Operating Profit 1.021.300.17-0.29-6.870.320.300.110.13-0.13
Operating Profit Margin (%) 22.8%14.2%13.2%--250.0%26.2%17.1%6.5%7.7%-56.9%
Other Income + 00.1700.0300.020000.04
Exceptional Items 0-0.05000000035.50
Interest 0.520.530.470.510.220.120000
Depreciation 0.430.340.240.230.210.200.190.120.060.06
Profit Before Tax 0.070.56-0.54-1-7.300.030.10-0.010.0635.35
Tax 0.170.32-0.07-0.07-0.02-0.02-0.050.070.050
Profit After Tax -0.100.24-0.47-0.93-7.270.050.15-0.080.0135.35
PAT Margin (%) -2.3%2.6%-37.4%--265.0%3.8%8.8%-4.9%0.9%16,066.0%
Adjusted EPS (₹)-0.10.3-0.5-1.0-7.90.10.2-0.10.034.2
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Valuation of VSF Projects - Standalone

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

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'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund + 29.6829.9224.1623.230.150.200.350.273.4750.20
Share Capital 5.875.875.875.875.875.875.875.876.586.58
Reserves 23.8124.0618.2917.36-5.72-5.67-5.52-5.60-3.1143.62
Debt +15.1515.542.2216.3815.2815.6515.6515.6514.9331.54
Long Term Debt13.3813.720.4714.3814.3114.5715.6515.6514.9331.54
Short Term Debt1.781.811.7520.971.070000
Minority Interest0000000000
Trade Payables1.732.242.3021.4621.4621.1120.4219.9920.088.19
Others Liabilities 41.5147.4561.0728.2629.0228.8729.0629.6028.651.23
Total Liabilities 88.0895.1489.7689.3365.9065.8265.4965.5067.1491.16

Fixed Assets

Net Fixed Assets +27.7327.0726.6926.3664.0663.8463.6563.5363.4863.38
Gross Block29.6228.5526.9326.7464.6564.5864.5864.5863.8463.80
Accumulated Depreciation1.891.480.240.380.590.740.931.050.360.43
CWIP 000000001.5820.87
Investments 53.7253.7253.7253.72000000
Inventories0000000000
Trade Receivables4.3512.027.227.180.010.010.010.0100
Cash Equivalents 0.030.160.090.0400.050.0300.013.37
Others Assets 2.252.172.032.031.841.921.811.962.073.54
Total Assets 88.0895.1489.7689.3365.9065.8265.4965.5067.1491.16

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity + 0.20-0.53-0.24-0.451.28-0.24-0.02-0.02-0.88-3.94
PBT 0.070.56-0.54-1-7.300.030.10-0.010.0635.35
Adjustment 0.430.390.240.717.610.300.190.120.06-35.42
Changes in Working Capital -0.04-1.390.23-0.160.97-0.57-0.32-0.11-0.99-3.82
Tax Paid -0.26-0.08-0.160000-0.02-0.01-0.04
Cash Flow From Investing Activity + -0.220.270.140.1100.0400-1.59-19.29
Capex 00.270.140.1100.0400-0.01-0
Net Investments -0.22000000000
Others 00000000-1.58-19.29
Cash Flow From Financing Activity + 00.380.100.29-1.320.25-0-02.4726.60
Net Proceeds from Shares 000000003.190
Net Proceeds from Borrowing -00.350.100.55-0.071.331.07000
Interest Paid 000-0.51-0.22-0.12-0-0-00
Dividend Paid 0000000000
Others 0.010.0400.25-1.04-0.97-1.070-0.7126.60
Net Cash Flow -0.020.12-0-0.05-0.040.05-0.02-0.0203.37

Financial Ratio

PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)-0.972.28-6.06-21.07000000
ROCE (%)2.244.1-0.44-3.57000000
Asset Turnover Ratio0.050.10.0100.040.020.030.030.020
PAT to CFO Conversion(x)N/A-2.21N/AN/AN/A-4.8-0.13N/A-88-0.11
Working Capital Days
Receivable Days239.603272,7910478.901.601.201.2000
Inventory Days0000000000
Payable Days273.90550005,968.60008,712.4000

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

VSF Projects Ltd FAQs

The current trading price of VSF Projects on 04-Jun-2026 16:59 is ₹34.18.

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 VSF Projects stood at ₹56.20 Cr

The latest P/E ratio of VSF Projects as of 03-Jun-2026 is 0.00.

The latest P/B ratio of VSF Projects as of 03-Jun-2026 is 0.57.

The 52-week high of VSF Projects is ₹63.80 and the 52-week low is ₹28.25.

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

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

The key valuation ratios of VSF Projects Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

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

About VSF Projects Ltd

VSF Projects was incorporated as Vijaya Shrimp Farms & Exports. It got its present name on November 26, 2008. The company is promoted by B N Murthy, C R Peddineni, G Venkateswar Rao, and G S Ramachandra Rao.

The company has set up an aqua culture farm at Ankalapatur village, in Nellore district of Andhra Pradesh to cultivate black tiger variety (P Mondon) as a 100% export oriented unit. The farm has 64 ponds in total. An in-house hatchery for captive consumption with an installed capacity of 40 million seed per annum is also included in the project. 

The hatchery started commercial operation in June 1995.

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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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