Vishnu Chemicals Ltd (VISHNU) — share price & stock analysis

Market cap

₹4,067 Cr

P/E

28.6×

ROE

14.3%

vs own 10-yr valuation

86th pctile

Book value / share

₹159

EPS (TTM)

₹21.1

10-yr median P/E

16.6×

Revenue (FY26)

₹1,610 Cr

Profit after tax (FY26)

₹142 Cr

Weinstein stage

Stage 2 (74 weeks)

Data as of

1 July 2026

4 of the 6 things we track are currently moving the right way — nearly everything is pulling in the same direction.

Where the levels actually stand: ROCE 16% — decent; debt moderate (0.49× equity); margins mid-band. Momentum says which way things are moving; these say where they are.

Read this number for what it is: it measures the DIRECTION of change, not the quality of the business. A mediocre business getting better scores high here; a great one having a soft quarter scores low. Profit, sales and margins count double.

The market has pre-paid for growth that hasn’t arrived yet

Since Mar 2016, the stock is up 947% while earnings per share grew 477%. The difference is re-rating — investors paying more for the same rupee of profit.pricettm_eps

That works until it doesn’t: from here, earnings have to do the lifting, because the multiple has already done its part.

Today’s P/E of 28.6× means the market is paying up — this is the expensive end of its own 10-year history (86th percentile).pe_ratio

Price is the weekly close (₹). EPS is trailing-twelve-month profit per share, anchored on Screener's own snapshots; between snapshots it is filled from price ÷ P/E (an exact identity), and any fill straying more than 18% from the neighbouring snapshots is dropped rather than shown. The lower panel is the P/E — what the market pays per rupee of profit; the dotted line is its long-run median (16.6×).

An uptrend that has held for 74 weeks

Every stock cycles through the same four seasons — a flat base (stage 1), an advance (2), a top (3), a decline (4). Right now this one is in Stage 2: advancing, 74 weeks in, confirmed.stage

The price sits above its rising 200-day average (₹539 today) — trends like this persist more often than they reverse, which is why the system rides them instead of guessing the top.dma_200

Beating NIFTY 500 for 27 weeks — relative strength is the market’s live opinion, and right now it is on this stock’s side.rs_mansfield

What would end it: two Friday closes in a row below the 200-day line. That is the house exit rule — mechanical, no debates.dma_200

Profits are at an all-time high

Over 12 years, sales went from ₹352 Cr to ₹1,610 Cr (about 14% a year), and profit from ₹13.0 Cr to ₹142 Cr.revenuenet_profit

Margins gave up 2.5 points along the way — growth bought at a price.operating_profit

Sales grew 15% last quarter — growth every single quarter for over 2 years

Mar 26 sales were ₹450 Cr, up 15% on the same quarter last year.revenue

That makes 8 quarters of growth in a row — this is a trend, not a blip.revenue

Margins have been rebuilt — 11.6% in FY21 to 15.7% now

Of every ₹100 of sales, the company keeps ₹17.0 as operating profit (a year ago it kept ₹16.3).opm_pct

Zoom out and this is the page's quiet hero: annual operating margin bottomed at 11.6% in FY21 and has been rebuilt to 15.7% — that recovery, not sales alone, is what powers the profit growth elsewhere on this page.operating_profit

Profit grew 10% last quarter

Mar 26 profit after tax was ₹43.0 Cr, up 10% year on year.net_profit

The profits are real — they turn into cash

Over the last 5 profitable years, the business reported ₹588 Cr of profit and collected ₹509 Cr of operating cash — about 87% conversion.operating_cash_flownet_profit

One asterisk on that strength: suppliers are being paid 21 days later than a year ago (172 → 193 days). Cash flattered by stretching payables is real cash — but it is borrowed timing, not extra earning power.payable_days

The cash cycle is stable

One rupee now takes about 148 days to go out the door as materials and come back as collected cash.cash_conversion_cycle

The biggest mover: inventory sitting longer in the warehouse (242 → 270 days).inventory_days

Building hard — new capacity is under construction

The productive asset base has gone from ₹196 Cr (FY14) to ₹836 Cr, with another ₹159 Cr of capacity under construction right now.fixed_assetscwip

Work-in-progress is 19% of the existing asset base — that is a serious bet on future demand. Capacity like this shows up in sales with a lag; it is tomorrow’s growth being paid for today.cwip

The build is bigger than the cash engine: investing outflows (₹521 Cr) exceeded operating cash (₹285 Cr) over the last 3 years — the difference comes from debt or shareholders.investing_cash_flowoperating_cash_flow

Debt is present but comfortable

For every ₹100 shareholders have put in (and left in), the company has borrowed ₹49 — total borrowings have grown from ₹207 Cr to ₹527 Cr over the window.borrowings

Every ₹100 kept in the business earns ₹16 — decent, not special

Return on capital employed is 16.0% (a year ago: 18.0%). This is the single best test of business quality: what the company earns on the money it keeps.roce_pct

Institutions bought the story, then started backing away

Promoters hold 69.2%, essentially unchanged. Foreign funds own 2.3%, domestic funds 5.7%.promoters_pctfiis_pctdiis_pct

Institutions buying while the story develops is the market’s quiet vote of confidence — they meet management, you don’t.

The numbers earn a deeper study — and watch the one thing that matters

The numbers lean positive, and the price already assumes the good news continues.

Best thing in the data: cash generation rising (₹90.0 Cr → ₹127 Cr).operating_cash_flow

Biggest worry: free cash flow falling (₹−10.0 Cr → ₹−140 Cr).operating_cash_flow

One dissent worth hearing: our valuation lens reads negative — “its fair-value math says the price sits about 18% above what the numbers justify”. When a lens disagrees with the committee, it is usually pointing at the thing that breaks first.

Machine-written research from Screener data — every number traces to its source column. Sector Alpha is not a SEBI-registered investment adviser; nothing here is a recommendation to buy or sell. Not investment advice.

Straight answers from the data