---
title: "Vijay Shanthi Builders Ltd (VIJSHAN) — Share Price, Financials & Analysis"
symbol: "VIJSHAN"
company: "Vijay Shanthi Builders Ltd"
canonical: "https://tapetide.com/stocks/VIJSHAN"
generated_at: "2026-10-13T11:01:44.288Z"
---

# Vijay Shanthi Builders Ltd (VIJSHAN)

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

## Company

- **Stock Type:** EQUITY
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** vijayshanthibuilders.com

## About

Vijay Shanthi Builders is engaged into the business of construction industry and involves itself in the construction of residential apartments and individual villas.

## Latest Price

## Key Insights

### Strengths

- Company has reduced debt.
- Stock is trading at 0.05 times its book value

### Weaknesses

- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -16.6% over past five years.
- Company has a low return on equity of -1.46% over last 3 years.
- Company might be capitalizing the interest cost
- Company has high debtors of 190 days.
- Working capital days have increased from 1,183 days to 2,097 days

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| revenue growth | -75% | -22% | -17% |

## Financial Statements

### Quarterly Results

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

| Item | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 12.04 | 0 | 1.55 | 0.91 | 82.8 | 1.7 | 2.85 | 3.08 | 20.63 | 1.16 | 0 | 0.39 |
| Expenses | 2.77 | -0.67 | 1.37 | 0.79 | 83.6 | 1.63 | 1.89 | 3.5 | 31.81 | 1.52 | 1.1 | 1.18 |
| Operating Profit | 9.27 | 0.67 | 0.18 | 0.12 | -0.8 | 0.07 | 0.96 | -0.42 | -11.18 | -0.36 | -1.1 | -0.79 |
| OPM % | 76.99 | — | 11.61 | 13.19 | -0.97 | 4.12 | 33.68 | -13.64 | -54.19 | -31.03 | — | -202.56 |
| Other Income | 0.26 | 0.07 | 0.09 | 0.02 | 0.27 | 0.02 | 0.01 | 0.02 | 0.4 | 0 | 0.03 | 0.01 |
| Interest | 1.92 | 0.19 | 0.16 | 0.05 | -0.19 | 0.02 | 0.01 | 0.08 | 0.09 | 0.02 | 0.01 | 0 |
| Depreciation | 0.05 | 0.07 | 0.09 | 0.06 | 0.08 | 0.04 | 0.09 | 0.08 | 0.05 | 0.04 | 0.03 | 0.02 |
| Profit before tax | 7.56 | 0.48 | 0.02 | 0.03 | -0.42 | 0.03 | 0.87 | -0.56 | -10.92 | -0.42 | -1.11 | -0.8 |
| Tax % | 47.35 | 43.75 | 100 | 66.67 | -38.1 | 33.33 | 33.33 | -32.14 | -0.64 | 0 | 0 | 0 |
| Net Profit | 3.97 | 0.27 | 0 | 0.02 | -0.26 | 0.02 | 0.58 | -0.38 | -10.85 | -0.43 | -1.12 | -0.8 |
| EPS in Rs | 1.52 | 0.1 | 0 | 0.01 | -0.1 | 0.01 | 0.22 | -0.15 | -4.14 | -0.16 | -0.43 | -0.31 |

### Profit & Loss

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

| Item | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 136 | 210 | 138 | 66 | 65 | 57 | 78 | 85 | 26 | 22 |
| Expenses | 123 | 195 | 123 | 58 | 61 | 55 | 60 | 85 | 37 | 36 |
| Operating Profit | 13 | 15 | 15 | 8 | 3 | 1 | 18 | 0 | -10 | -13 |
| OPM % | 9 | 7 | 11 | 12 | 5 | 2.6 | 23 | 0.2 | -39 | -61 |
| Other Income | 1 | 0 | 0 | 1 | 0 | 1 | 0 | 0 | 0 | 0 |
| Interest | 1 | 1 | 1 | 1 | 0 | 1 | 9 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 12 | 14 | 14 | 6 | 3 | 1 | 9 | 0 | -11 | -13 |
| Tax % | 21 | 32 | 39 | 33 | 34 | 32 | 45 | 82 | 0 | — |
| Net Profit | 10 | 9 | 8 | 4 | 2 | 1 | 5 | 0 | -11 | -13 |
| EPS in Rs | 3.63 | 3.62 | 3.23 | 1.55 | 0.72 | 0.27 | 1.8 | 0.01 | -4.07 | -5.04 |
| Dividend Payout % | 22 | 22 | 25 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

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

| Item | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 13 | 26 | 26 | 26 | 26 | 26 | 26 | 26 | 26 | 26 |
| Reserves | 43 | 76 | 83 | 89 | 93 | 95 | 96 | 100 | 101 | 90 |
| Borrowings | 60 | 66 | 46 | 50 | 63 | 92 | 98 | 73 | 57 | 54 |
| Other Liabilities | 58 | 38 | 57 | 55 | 31 | 19 | 19 | 17 | 59 | 55 |
| Total Liabilities | 174 | 206 | 213 | 220 | 213 | 232 | 239 | 217 | 243 | 225 |
| Fixed Assets | 4 | 6 | 4 | 4 | 3 | 2 | 2 | 2 | 2 | 1 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 169 | 200 | 209 | 216 | 210 | 230 | 237 | 215 | 241 | 224 |
| Total Assets | 174 | 206 | 213 | 220 | 213 | 232 | 239 | 217 | 243 | 225 |

### Cash Flow

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

| Item | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 24 | -38 | 39 | -4 | -8 | -30 | -9 | 35 | 24 | -10 |
| Cash from Investing Activity | -11 | -3 | 0 | 0 | -1 | 0 | 1 | 1 | 0 | 0 |
| Cash from Financing Activity | -12 | 42 | -36 | 0 | 11 | 29 | 5 | -34 | -25 | 10 |
| Net Cash Flow | 1 | 1 | 3 | -3 | 2 | -1 | -3 | 2 | -1 | 0 |
| Free Cash Flow | 23 | -41 | 39 | -5 | -8 | -30 | -9 | 35 | 24 | -10 |
| CFO/OP | 668 | -287 | 291 | 10 | -66 | -842 | -574 | 198 | 14335 | 98 |

### Ratios

| Item | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 16 | 10 | 3 | 77 | 87 | 44 | 89 | 39 | 62 | 190 |
| Inventory Days | — | — | — | — | — | 4297 | 5078 | 2606 | 1501 | 4000 |
| Days Payable | — | — | — | — | — | 204 | 268 | 96 | 39 | 96 |
| Cash Conversion Cycle | 16 | 10 | 3 | 77 | 87 | 4137 | 4899 | 2550 | 1524 | 4094 |
| Working Capital Days | 572 | 391 | 197 | 306 | 744 | 1016 | 880 | 804 | 648 | 2097 |
| ROCE % | 3 | 9 | 9 | 10 | 4 | 2 | 1 | 9 | 0 | -6 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Sep 2019 |
| --- | --- | --- | --- | --- |
| Promoters | 49.81% | 40.56% | 38.2% | 38.2% |
| DIIs | 0.01% | 0.28% | 0.01% | 0.01% |
| Public | 50.18% | 59.16% | 61.79% | 61.79% |
| No. of Shareholders | 17555 | 18258 | 17951 | 17974 |

### Quarterly

| Category | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 49.82% | 49.81% | 49.93% | 43.56% | 43.15% | 40.56% | 37.98% | 38.2% | 38.2% | 38.2% | 38.2% | 38.2% |
| FIIs | 0% | 0% | 0% | 0% | 0.22% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.28% | 0.04% | 0.04% | 0.01% | 0.01% | 0.01% | 0.01% |
| Public | 50.17% | 50.18% | 50.07% | 56.44% | 56.62% | 59.16% | 61.98% | 61.77% | 61.79% | 61.79% | 61.79% | 61.79% |
| No. of Shareholders | 17543 | 17555 | 17468 | 17874 | 17866 | 18258 | 18316 | 18190 | 18091 | 17951 | 17942 | 17974 |

## 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 / 4 / 13

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 54.05 | Sell |
| EMA (10) | 53.86 | Sell |
| SMA (20) | 55.31 | Sell |
| EMA (20) | 55.04 | Sell |
| SMA (50) | 58.16 | Sell |
| EMA (50) | 58.18 | Sell |
| SMA (100) | 63.59 | Sell |
| EMA (100) | 61.89 | Sell |
| SMA (200) | 69.71 | Sell |
| EMA (200) | 63.48 | Sell |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 31.75 | Neutral |
| MACD (12,26,9) | -1.56 | Sell |
| Stochastic (14,3,3) | 45.43 | Neutral |
| ADX (14) | 51.31 | Buy |
| Williams %R (14) | -70.71 | Neutral |
| ATR (14) | 2.51 | High Volatility |
| ROC (12) | -6.12 | Sell |
| Stoch RSI (14) | 0 | Buy |
| UO (7,14,28) | 72.11 | Sell |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 2020-09-29 | [Change In The Email ID Of The Company For Communication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3c7863ee-8de1-4d46-8afe-4a8b38745d72.pdf) |
| 2020-09-29 | [Change In The Email ID Of The Company For Communication](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3c7863ee-8de1-4d46-8afe-4a8b38745d72.pdf) |
| 2020-02-18 | [Results - Financial Results For The Quarter Ended December 2019](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3ded22eb-b67f-4eb0-9a46-ca663a4323ea.pdf) |
| 2020-02-18 | [Results - Financial Results For The Quarter Ended December 2019](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3ded22eb-b67f-4eb0-9a46-ca663a4323ea.pdf) |
| 2019-12-06 | [Announcement under Regulation 30 (LODR)-Cessation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1f8189e8-5373-4e52-b4ac-081a21598060.pdf) |
| 2019-12-06 | [Announcement under Regulation 30 (LODR)-Change in Corporate Office Address](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=81efdb9e-c22d-4e70-9a79-4d150903997c.pdf) |
| 2019-12-06 | [Announcement under Regulation 30 (LODR)-Cessation](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1f8189e8-5373-4e52-b4ac-081a21598060.pdf) |
| 2019-12-06 | [Announcement under Regulation 30 (LODR)-Change in Corporate Office Address](https://www.bseindia.com/xml-data/corpfiling/AttachHis/81efdb9e-c22d-4e70-9a79-4d150903997c.pdf) |
| 2019-11-23 | [Regulation 40 - Certificate From Practising Company Secretary On Transfer Of Shares For The Year Ended 30.09.2019 As Per SEBI (LODR) Regulations 2015](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=bf859595-17b2-477e-98d0-ab3eee0bde38.pdf) |
| 2019-11-23 | [Regulation 40 - Certificate From Practising Company Secretary On Transfer Of Shares For The Year Ended 30.09.2019 As Per SEBI (LODR) Regulations 2015](https://www.bseindia.com/xml-data/corpfiling/AttachHis/bf859595-17b2-477e-98d0-ab3eee0bde38.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| Mar 2018 | [Annual Report 2018](https://www.bseindia.com/bseplus/AnnualReport/523724/5237240318.pdf) |
| Mar 2017 | [Annual Report 2017](https://www.bseindia.com/bseplus/AnnualReport/523724/5237240317.pdf) |
| Mar 2016 | [Annual Report 2016](https://www.bseindia.com/bseplus/AnnualReport/523724/5237240316.pdf) |
| Mar 2015 | [Annual Report 2015](https://www.bseindia.com/bseplus/AnnualReport/523724/5237240315.pdf) |
| Mar 2014 | [Annual Report 2014](https://www.bseindia.com/bseplus/AnnualReport/523724/5237240314.pdf) |
| Mar 2013 | [Annual Report 2013](https://www.bseindia.com/bseplus/AnnualReport/523724/5237240313.pdf) |
| Mar 2011 | [Annual Report 2011](https://www.bseindia.com/bseplus/AnnualReport/523724/5237240311.pdf) |
| Mar 2010 | [Annual Report 2010](https://www.bseindia.com/bseplus/AnnualReport/523724/5237240310.pdf) |
| 2010 | [Annual Report 2010](https://archives.nseindia.com/annual_reports/AR_VIJSHAN_2009_2010_09092010120000.zip) |

---

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 2026-10-13T11:01:44.288Z.