Share price
₹4.85 latest close · −9.7% over the last 90 sessions
₹4.85 month-end · −31.9% over 12 months
₹4.85 month-end · −72.0% over 3 years
₹4.85 month-end · −61.4% since Oct '19
52-week range ₹4.14 to ₹7.97 · 1-year volatility 45.4%
How rough has the ride been?
Drawdown from peak
Largest drawdowns
-90.4% (2021-10 peak to 2026-03 low, not yet recovered)
-37.7% (2019-12 peak to 2020-03 low, recovered 2020-08)
-34.6% (2021-03 peak to 2021-04 low, recovered 2021-10)
Where does it rank among Process Industries peers?
Each cell is the company's percentile rank among its Process Industries peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).
Where it ranks today
- ROCE5th▼ 3 pts vs a year ago
- Op. margin3rdflat vs a year ago
- Revenue growth5th▼ 11 pts vs a year ago
- EPS growth1st
- Debt/equity ↓6thflat vs a year ago
- Cash cycle ↓21st▲ 6 pts vs a year ago
- P/E ↓21st
- 12M momentum16th▲ 12 pts vs a year ago
Rank history
Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.
The Process Industries sector page Watch it move against Process Industries in the Observatory
What is the price implying?
Trailing earnings per share are negative, so a P/E-based figure does not exist. See the loss-makers list on the Expectations Gap page for a revenue-based version.
“Implied growth” is what the current price would require under our stated assumptions, not what we expect.
What prices imply across Process Industries The market-wide Expectations lists
Key figures
- Share Priceclose 9 Nov
- ₹4.85
- ROCE
- -3.0%
- Market Cap
- ₹105 cr
- Revenue (TTM)
- ₹351 cr
- P/S
- 0.3x
- P/B
- 0.4x
- ROE
- -14.3%
- Operating Margin
- -10.0%
- Debt / Equity
- 1.7x
- Promoter Holding
- 29.1%
- 12M Momentum
- -31.9%
52-week range
Price risk
Balance sheet & cash
Are profits backed by cash?
Other income reliance—Not enough data
Not enough reported data to compute this.
Tax rate—Not enough data
Not enough reported data to compute this.
Cash conversion—Not enough data
Not enough reported data to compute this.
Free cash flow3 of 5 yrsNear threshold
Fiscal years with positive free cash flow in the last 5: 3. Bands: at least 80% of years, 40% to 80%, below 40%.
Receivable days vs history-4 daysWithin range
Debtor days are below the median of the previous three fiscal years by 4 days (22 vs 26). Bands: under 15 days, 15 to 45, over 45.
Capital work in progress5% of fixed assetsWithin range
Capital work-in-progress is 5% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.
Payable days+30 days / 2 yrsWithin range
Days payable changed by +30 over two years. Bands: rise of up to 30 days; more than 30 days.
Tap a check to see how it is measured
How to read this
Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.
Who has been buying and selling?
- Over 3 years, promoters trimmed 4.7 pts; DIIs added 1.3 pts.
- The number of shareholders fell from 1.6 lakh to 1.4 lakh (-10%) between Sep 2023 and Jun 2026.
Holdings, Jun '26
How each group changed
Number of shareholders
Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.
What happened next to similar setups
- We found 50 past situations where a non-financial company looked like VISHWARAJ SUGAR INDUSTRIES LTD today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
- Over the following 12 months the middle half of them returned −22% to +34% vs the market, against −3% for all non-financial companies in the same months.
- The gap against the base rate (−2.2%, 80% range −9.9% to +12.0%) is within what chance and overlapping periods produce.
Where the 50 outcomes landed
Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 3 beyond the range shown, drawn at the edge
50 past situations · 50 companies · 35 months · 2020–2025
The closest matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| SHAHALLOYS Non-Energy Minerals |
Jan 2024 | — | -2% | +11% | −16% | −23% |
| BASML Process Industries |
Sep 2023 | — | 0% | −4% | −19% | −13% |
| DCM Technology Services |
Jun 2020 | — | -18% | −42% | −44% | +37% |
| SELMC Process Industries |
Apr 2025 | — | -15% | −42% | −46% | −31% |
| AUTOIND Producer Manufacturing |
Nov 2020 | — | -9% | −6% | −32% | +36% |
Show the other 3 matches
How reliable is this?
Matched on P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: 12-month momentum, drawdown from 12-month high and interest cover. Not used (unavailable for this company): P/E. This company is loss-making, so it was only compared with loss-making companies. One match per company and at most 7 from any one month.
Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.
What changed?
26 events since Mar '20
- MarPriceFell 90% from the Oct 2021 peak to the Mar 2026 low.
- SepPeer rankSlipped to the bottom quartile of Process Industries on operating margin (from the 3rd quartile).
- JunPeer rankSlipped to the bottom quartile of Process Industries on ROCE (from the 3rd quartile).
- JunDividendDividend payout cut from 26% to -0% of profit.
- JunSharesShare count is up 15.8% over 12 months.
- MarPeer rankMoved into the top quartile of Process Industries on operating margin (from the bottom quartile).
- DecPromoterPromoter holding fell 4.7 pts to 29.1%.
- DecResultsEPS (TTM) turned negative.
Show 18 earlier events
- DecInstitutionsFII + DII holding rose 9.5 pts over 1 quarter to 9.7%.
- SepValuationP/E crossed above the 90th percentile of its own history to date (78.3x).
- SepPeer rankSlipped to the bottom quartile of Process Industries on operating margin (from the top quartile).
- JunResultsEPS (TTM) turned positive.
- JunDividendStarted paying a dividend (payout 26% of profit).
- JunResultsEPS (TTM) turned negative.
- JunPeer rankSlipped to the bottom quartile of Process Industries on EPS growth (from the top quartile).
- JunDividendDividend payout cut from 6% to -8% of profit.
- JunResultsRevenue (TTM) reached a new high of ₹467 cr.
- JunDividendDividend payout cut from 45% to 6% of profit.
- OctPriceRegained the 2021-03 peak, 6 months after the low.
- JunResultsEPS (TTM) turned positive.
- JunPeer rankMoved into the 3rd quartile of Process Industries on ROCE (from the bottom quartile).
- JunDividendStarted paying a dividend (payout 45% of profit).
- AprPriceFell 35% from the Mar 2021 peak to the Apr 2021 low.
- OctSharesShare count is up 8.6% over 12 months.
- AugPriceRegained the 2019-12 peak, 5 months after the low.
- MarPriceFell 38% from the Dec 2019 peak to the Mar 2020 low.
Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.
Where price and fundamentals disagree, market-wide Rewind the whole market to any month
Monthly history86 months · 2019-10 to 2026-11
| Month | P/E | Revenue (TTM) | ROE | ROCE | Debt / Equity |
|---|---|---|---|---|---|
| 2026-11 | — | ₹351 cr | -14.3% | -3.0% | 1.7x |
| 2026-10 | — | ₹351 cr | -14.2% | -3.0% | 1.7x |
| 2026-09 | — | ₹351 cr | -14.2% | -3.0% | 1.7x |
| 2026-08 | — | ₹377 cr | -10.3% | -3.0% | 1.7x |
| 2026-07 | — | ₹377 cr | -10.3% | -3.0% | 1.7x |
| 2026-06 | — | ₹377 cr | -10.3% | -3.0% | 1.7x |
| 2026-05 | — | ₹433 cr | -12.5% | 0.0% | 1.4x |
| 2026-04 | — | ₹433 cr | -12.5% | 0.0% | 1.4x |
| 2026-03 | — | ₹433 cr | -12.5% | 0.0% | 1.4x |
| 2026-02 | — | ₹448 cr | -9.6% | 0.0% | 1.4x |
| 2026-01 | — | ₹448 cr | -9.6% | 0.0% | 1.4x |
| 2025-12 | — | ₹448 cr | -9.6% | 0.0% | 1.4x |
| 2025-11 | — | ₹486 cr | -12.5% | 0.0% | 1.4x |
| 2025-10 | — | ₹486 cr | -12.5% | 0.0% | 1.4x |
| 2025-09 | — | ₹486 cr | -12.5% | 0.0% | 1.4x |
| 2025-08 | — | ₹454 cr | -12.8% | 0.0% | 1.4x |
| 2025-07 | — | ₹454 cr | -12.8% | 0.0% | 1.4x |
| 2025-06 | — | ₹454 cr | -12.8% | 0.0% | 1.4x |
| 2025-05 | — | ₹451 cr | -13.4% | 9.0% | 1.4x |
| 2025-04 | — | ₹451 cr | -13.4% | 9.0% | 1.4x |
| 2025-03 | — | ₹451 cr | -13.4% | 9.0% | 1.4x |
| 2025-02 | — | ₹464 cr | -2.2% | 9.0% | 1.4x |
| 2025-01 | — | ₹464 cr | -2.2% | 9.0% | 1.4x |
| 2024-12 | — | ₹464 cr | -2.2% | 9.0% | 1.4x |
| 2024-11 | 61.3x | ₹509 cr | 1.9% | 9.0% | 1.4x |
| 2024-10 | 65.8x | ₹509 cr | 1.9% | 9.0% | 1.4x |
| 2024-09 | 78.3x | ₹509 cr | 1.9% | 9.0% | 1.4x |
| 2024-08 | 26.7x | ₹550 cr | 4.8% | 9.0% | 1.4x |
| 2024-07 | 25.3x | ₹550 cr | 4.8% | 9.0% | 1.4x |
| 2024-06 | 24.3x | ₹550 cr | 4.8% | 9.0% | 1.4x |
| 2024-05 | — | ₹611 cr | -9.0% | 8.0% | 1.4x |
| 2024-04 | — | ₹611 cr | -9.0% | 8.0% | 1.4x |
| 2024-03 | — | ₹611 cr | -9.0% | 8.0% | 1.4x |
| 2024-02 | — | ₹611 cr | -9.0% | 8.0% | 1.4x |
| 2024-01 | — | ₹611 cr | -9.0% | 8.0% | 1.4x |
| 2023-12 | — | ₹611 cr | -9.0% | 8.0% | 1.4x |
| 2023-11 | — | ₹611 cr | -9.0% | 8.0% | 1.4x |
| 2023-10 | — | ₹611 cr | -9.0% | 8.0% | 1.4x |
| 2023-09 | — | ₹611 cr | -9.0% | 8.0% | 1.4x |
| 2023-08 | — | ₹611 cr | -9.0% | 8.0% | 1.4x |
| 2023-07 | — | ₹611 cr | -9.0% | 8.0% | 1.4x |
| 2023-06 | — | ₹611 cr | -9.0% | 8.0% | 1.4x |
| 2023-05 | 5.7x | ₹467 cr | 21.2% | 13.0% | 1.3x |
| 2023-04 | 4.9x | ₹467 cr | 21.2% | 13.0% | 1.3x |
| 2023-03 | 4.5x | ₹467 cr | 21.2% | 13.0% | 1.3x |
| 2023-02 | 4.8x | ₹467 cr | 21.2% | 13.0% | 1.3x |
| 2023-01 | 5.2x | ₹467 cr | 21.2% | 13.0% | 1.3x |
| 2022-12 | 5.8x | ₹467 cr | 21.2% | 13.0% | 1.3x |
| 2022-11 | 5.1x | ₹467 cr | 21.2% | 13.0% | 1.3x |
| 2022-10 | 5.1x | ₹467 cr | 21.2% | 13.0% | 1.3x |
| 2022-09 | 5.3x | ₹467 cr | 21.2% | 13.0% | 1.3x |
| 2022-08 | 5.3x | ₹467 cr | 21.2% | 13.0% | 1.3x |
| 2022-07 | 5.5x | ₹467 cr | 21.2% | 13.0% | 1.3x |
| 2022-06 | 5.0x | ₹467 cr | 21.2% | 13.0% | 1.3x |
| 2022-05 | 41.8x | ₹425 cr | 3.5% | 8.0% | 1.7x |
| 2022-04 | 47.8x | ₹425 cr | 3.5% | 8.0% | 1.7x |
| 2022-03 | 46.0x | ₹425 cr | 3.5% | 8.0% | 1.7x |
| 2022-02 | 48.0x | ₹425 cr | 3.5% | 8.0% | 1.7x |
| 2022-01 | 54.7x | ₹425 cr | 3.5% | 8.0% | 1.7x |
| 2021-12 | 63.9x | ₹425 cr | 3.5% | 8.0% | 1.7x |
| 2021-11 | 65.9x | ₹425 cr | 3.5% | 8.0% | 1.7x |
| 2021-10 | 82.4x | ₹425 cr | 3.5% | 8.0% | 1.7x |
| 2021-09 | 67.6x | ₹425 cr | 3.5% | 8.0% | 1.7x |
| 2021-08 | 68.3x | ₹425 cr | 3.5% | 8.0% | 1.7x |
| 2021-07 | 66.6x | ₹425 cr | 3.5% | 8.0% | 1.7x |
| 2021-06 | 70.0x | ₹425 cr | 3.5% | 8.0% | 1.7x |
| 2021-05 | — | ₹362 cr | -3.6% | 4.0% | 1.6x |
| 2021-04 | — | ₹362 cr | -3.6% | 4.0% | 1.6x |
| 2021-03 | — | ₹362 cr | -3.6% | 4.0% | 1.6x |
| 2021-02 | — | ₹362 cr | -3.6% | 4.0% | 1.6x |
| 2021-01 | — | ₹362 cr | -3.6% | 4.0% | 1.6x |
| 2020-12 | — | ₹362 cr | -3.6% | 4.0% | 1.6x |
| 2020-11 | — | ₹362 cr | -3.6% | 4.0% | 1.6x |
| 2020-10 | — | ₹362 cr | -3.6% | 4.0% | 1.6x |
| 2020-09 | — | ₹362 cr | -3.6% | 4.0% | 1.6x |
| 2020-08 | — | ₹362 cr | -3.6% | 4.0% | 1.6x |
| 2020-07 | — | ₹362 cr | -3.6% | 4.0% | 1.6x |
| 2020-06 | — | ₹362 cr | -3.6% | 4.0% | 1.6x |
| 2020-05 | — | ₹285 cr | -8.5% | 2.0% | 1.6x |
| 2020-04 | — | ₹285 cr | -8.5% | 2.0% | 1.6x |
| 2020-03 | — | ₹285 cr | -8.5% | 2.0% | 1.6x |
| 2020-02 | — | ₹285 cr | -8.5% | 2.0% | 1.6x |
| 2020-01 | — | ₹285 cr | -8.5% | 2.0% | 1.6x |
| 2019-12 | — | ₹285 cr | -8.5% | 2.0% | 1.6x |
| 2019-11 | — | ₹285 cr | -8.5% | 2.0% | 1.6x |
| 2019-10 | — | ₹285 cr | -8.5% | 2.0% | 1.6x |