---
title: "V-Marc India Ltd (VMARCIND) — Share Price, Financials & Analysis"
symbol: "VMARCIND"
company: "V-Marc India Ltd"
canonical: "https://tapetide.com/stocks/VMARCIND"
isin: "INE0GXK01018"
nse_symbol: "VMARCIND"
sector: "Industrials"
industry: "Industrial Products"
market_cap_cr: 5124.68
generated_at: "2026-09-13T19:14:35.387Z"
---

# V-Marc India Ltd (VMARCIND)

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

## Company

- **NSE Symbol:** VMARCIND
- **ISIN:** INE0GXK01018
- **Sector:** Industrials
- **Industry:** Industrial Products
- **Macro Sector:** Industrials
- **Stock Type:** EQUITY
- **Listed Since:** 2021-04-09
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** v-marc.com

## About

Incorporated in 2014, V -Marc India Ltd manufactures PVC Insulated Wires & Cables[1]

## Latest Price

- **Price:** ₹358.3
- **Change:** +9.2 (+2.64%)
- **Open:** ₹352.2
- **Day High:** ₹361.95
- **Day Low:** ₹345.05
- **Previous Close:** ₹349.1
- **Volume:** 291000
- **As Of:** 2026-09-11T10:01:40+00:00

## Key Fundamentals

Observed at 2026-09-11T04:40:29.680676Z.

- **Market Cap:** ₹5124.68 Cr
- **Classification:** SME
- **P/E (reported):** 43.4
- **Book Value:** ₹19.76
- **Price to Book:** 17.67
- **Dividend Yield:** 0%
- **ROE:** 34.57%
- **ROCE:** 44.3%
- **Debt to Equity:** 0.74
- **Revenue (yearly):** ₹1800.2 Cr
- **Net Income:** ₹100.1 Cr
- **EBITDA:** ₹204 Cr
- **52-Week High:** ₹1708
- **52-Week Low:** ₹248
- **RSI (14):** 52.72

## Tapetide Score

- **Score:** 44 / 100
- **Score date:** 2026-09-04
- **Archetype:** No Dominant Pattern
- **What it means:** The three pillars do not combine into a recognisable pattern. Read them individually rather than looking for one story — the lack of a pattern is itself the finding.
- **Pillar profile:** Quality: Average · Valuation: Fair · Momentum: Falling
- **Percentile:** 25 (of 4473 scored stocks)
- **Confidence:** 100%
- **Data coverage:** 100%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 34.79 | 9% |
| growth | 98.9 | 9% |
| momentum | 10.33 | 12% |
| ownership | 49.16 | 24% |
| quality | 59.33 | 22% |
| valuation | 51.45 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Company has delivered good profit growth of 76.6% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 33.7%
- Company's median sales growth is 37.1% of last 10 years

### Weaknesses

- Stock is trading at 18.1 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company's cost of borrowing seems high
- Promoter holding has decreased over last 3 years: -5.09%

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | 384.78% | 91.01% | — |
| ebitda margin growth | -24.16% | 4.23% | -4.06% | 32.21% |
| net income growth | -34.48% | 177.29% | 112% | 77% |
| revenue growth | -16.6% | 98.65% | 94% | 60% |
| roce | — | 47.81% | 28.55% | 29.57% |
| roe | — | 81.47% | 26.28% | 380.14% |

## Financial Statements

### Quarterly Results

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

| Item | Jun 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- |
| Sales | 274 | 667 | 556 |
| Expenses | 244 | 587 | 496 |
| Operating Profit | 30 | 79 | 59 |
| OPM % | 11 | 12 | 11 |
| Other Income | 0 | 1 | 1 |
| Interest | 10 | 15 | 16 |
| Depreciation | 6 | 6 | 8 |
| Profit before tax | 15 | 59 | 37 |
| Tax % | 27 | 26 | 22 |
| Net Profit | 11 | 44 | 29 |
| EPS in Rs | 0.74 | 2.97 | 1.95 |

### Profit & Loss

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

| Item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 71 | 107 | 129 | 170 | 172 | 179 | 245 | 560 | 896 | 1778 |
| Expenses | 66 | 101 | 121 | 156 | 157 | 163 | 219 | 494 | 798 | 1577 |
| Operating Profit | 5 | 6 | 8 | 14 | 15 | 15 | 26 | 66 | 98 | 201 |
| OPM % | 8 | 6 | 6 | 8 | 9 | 9 | 11 | 12 | 11 | 11 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 1 | 3 | 1 | 1 | 3 |
| Interest | 2 | 2 | 3 | 6 | 6 | 7 | 12 | 22 | 31 | 46 |
| Depreciation | 1 | 1 | 1 | 1 | 2 | 3 | 3 | 9 | 18 | 25 |
| Profit before tax | 2 | 3 | 4 | 7 | 8 | 6 | 14 | 36 | 50 | 134 |
| Tax % | 23 | 25 | 28 | 28 | 27 | 23 | 23 | 26 | 27 | 25 |
| Net Profit | 2 | 2 | 3 | 5 | 6 | 5 | 10 | 27 | 36 | 100 |
| EPS in Rs | 0.18 | 0.29 | 0.35 | 0.51 | 0.57 | 0.37 | 0.76 | 1.96 | 2.46 | 6.83 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

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

| Item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 14 | 14 | 14 | 16 | 17 | 23 | 23 | 23 | 24 | 24 |
| Reserves | 2 | 4 | 7 | 19 | 25 | 47 | 57 | 84 | 165 | 265 |
| Borrowings | 17 | 16 | 29 | 45 | 49 | 57 | 76 | 140 | 175 | 214 |
| Other Liabilities | 12 | 12 | 20 | 51 | 40 | 66 | 91 | 198 | 281 | 521 |
| Total Liabilities | 44 | 47 | 71 | 131 | 131 | 193 | 246 | 445 | 646 | 1024 |
| Fixed Assets | 6 | 6 | 7 | 10 | 20 | 18 | 55 | 97 | 139 | 195 |
| CWIP | 0 | 0 | 2 | 10 | 1 | 3 | 15 | 26 | 24 | 36 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 39 | 41 | 62 | 110 | 110 | 172 | 176 | 322 | 483 | 793 |
| Total Assets | 44 | 47 | 71 | 131 | 131 | 193 | 246 | 445 | 646 | 1024 |

### Cash Flow

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

| Item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 0 | 0 | 3 | 10 | 2 | -3 | 34 | 57 | 23 | 109 |
| Cash from Investing Activity | 0 | 0 | -4 | -6 | -2 | -19 | -33 | -69 | -61 | -97 |
| Cash from Financing Activity | 2 | 0 | 0 | -3 | -1 | 23 | 0 | 12 | 40 | -5 |
| Net Cash Flow | 2 | 0 | 0 | 1 | -1 | 0 | 0 | 0 | 1 | 7 |
| Free Cash Flow | 0 | 0 | -1 | 3 | 0 | -6 | -18 | -5 | -35 | 17 |
| CFO/OP | -7 | 3 | 45 | 84 | 27 | -10 | 141 | 100 | 37 | 71 |

### Ratios

| Item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 90 | 71 | 84 | 123 | 74 | 136 | 84 | 94 | 116 | 86 |
| Inventory Days | 101 | 59 | 69 | 114 | 148 | 178 | 162 | 106 | 73 | 69 |
| Days Payable | 59 | 45 | 59 | 122 | 93 | 98 | 132 | 129 | 103 | 112 |
| Cash Conversion Cycle | 132 | 85 | 94 | 116 | 129 | 215 | 114 | 70 | 86 | 43 |
| Working Capital Days | 129 | 96 | 119 | 39 | 58 | 84 | 48 | 21 | 35 | 29 |
| ROCE % | 15 | 16 | 16 | — | 16 | 13 | 18 | 29 | 26 | 41 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 69.96% | 69.96% | 69.96% | 69.96% | 69.96% | 69.96% | 69.52% | 64.87% | 64.87% | 64.87% | 64.87% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0.26% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0.02% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 26.89% | 27.1% | 27% | 26.47% | 27.44% | 26.97% | 26.31% | 29.76% | 30.66% | 31.25% | 31.58% |
| Others | 3.15% | 2.94% | 3.04% | 3.57% | 2.59% | 3.07% | 4.16% | 5.37% | 4.47% | 3.88% | 3.28% |
| No. of Shareholders | 466 | 496 | 514 | 650 | 1002 | 1704 | 1578 | 2040 | 1943 | 2642 | 3330 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Sell
- **Buy / Neutral / Sell:** 6 / 5 / 8

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 335.14 | Buy |
| EMA (10) | 342.46 | Buy |
| SMA (20) | 358.37 | Sell |
| EMA (20) | 353.25 | Buy |
| SMA (50) | 346.74 | Buy |
| EMA (50) | 475.6 | Sell |
| SMA (100) | 814.91 | Sell |
| EMA (100) | 621.81 | Sell |
| SMA (200) | 744.98 | Sell |
| EMA (200) | 661.96 | Sell |

### Oscillators — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 46.76 | Neutral |
| MACD (12,26,9) | -25.6 | Buy |
| Stochastic (14,3,3) | 49.78 | Neutral |
| ADX (14) | 29.26 | Buy |
| Williams %R (14) | -37.27 | Neutral |
| ATR (14) | 27.32 | High Volatility |
| ROC (12) | -6.01 | Sell |
| Stoch RSI (14) | 100 | Sell |
| UO (7,14,28) | 58.8 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 January 2026 - Clarifies subsidiary V-Marc Defence & Aerospace (incorp. 24 Sep 2025) had nil operations, hence identical standalone and consolidated results. | [Updates 9 January 2026 - Clarifies subsidiary V-Marc Defence & Aerospace (incorp. 24 Sep 2025) had nil operations, hence identical standalone and consolidated results.](https://nsearchives.nseindia.com/corporate/Ranjan_09012026104657_VIL.pdf) |
| 8 July 2026 - Board approved 5:1 bonus issue, appointed Neha Rastogi, and raised borrowing/security limits to ₹800 crore. | [Allotment of Securities 8 July 2026 - Board approved 5:1 bonus issue, appointed Neha Rastogi, and raised borrowing/security limits to ₹800 crore.](https://nsearchives.nseindia.com/corporate/Ranjan_08072026143639_VIL.pdf) |
| 8 July 2026 - Board approved 5:1 bonus issue, appointed Neha Rastogi, and raised borrowing/charge limits to ₹800 crore. | [Outcome of Board Meeting 8 July 2026 - Board approved 5:1 bonus issue, appointed Neha Rastogi, and raised borrowing/charge limits to ₹800 crore.](https://nsearchives.nseindia.com/corporate/Ranjan_08072026143227_VIL.pdf) |
| 8 Jul - Board approved 5:1 bonus issue; appointed independent director; raised borrowing and security limits to ₹800 crore. | [Appointment 8 Jul - Board approved 5:1 bonus issue; appointed independent director; raised borrowing and security limits to ₹800 crore.](https://nsearchives.nseindia.com/corporate/Ranjan_08072026144555_VIL.pdf) |
| 8 Jul - Board allotted 12.21 crore bonus shares, appointed Neha Rastogi, and raised borrowing limits to ₹800 crore. | [Allotment of Securities 8 Jul - Board allotted 12.21 crore bonus shares, appointed Neha Rastogi, and raised borrowing limits to ₹800 crore.](https://nsearchives.nseindia.com/corporate/Ranjan_08072026162800_VIL.pdf) |
| 7 April 2026 - V-Marc India filed SDD compliance certificate for FY2026, confirming no non-compliance. | [Structural Digital Database 7 April 2026 - V-Marc India filed SDD compliance certificate for FY2026, confirming no non-compliance.](https://nsearchives.nseindia.com/corporate/Ranjan_07042026114208_VIL.pdf) |
| 6 March 2026 - Proposed Rs.100–125 Cr expansion, acquiring ~20 acres near Roorkee (Haridwar); Phase‑I completion expected Q1 FY2026–27. | [Updates 6 March 2026 - Proposed Rs.100–125 Cr expansion, acquiring ~20 acres near Roorkee (Haridwar); Phase‑I completion expected Q1 FY2026–27.](https://nsearchives.nseindia.com/corporate/Ranjan_06032026192953_VIL.pdf) |
| 6 January 2026 - SDD compliance certificate for quarter ended Dec 31, 2025; two events captured; no non-compliance. | [Structural Digital Database 6 January 2026 - SDD compliance certificate for quarter ended Dec 31, 2025; two events captured; no non-compliance.](https://nsearchives.nseindia.com/corporate/Ranjan_06012026173131_VIL.pdf) |
| 6 April 2026 - V-Marc India says Regulation 24A secretarial compliance report is not applicable on NSE Emerge. | [Updates 6 April 2026 - V-Marc India says Regulation 24A secretarial compliance report is not applicable on NSE Emerge.](https://nsearchives.nseindia.com/corporate/Ranjan_06042026182231_VIL.pdf) |
| 6 April 2026 - Filed Regulation 74(5) certificate for quarter ended 31 March 2026; shares fully dematerialised. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 6 April 2026 - Filed Regulation 74(5) certificate for quarter ended 31 March 2026; shares fully dematerialised.](https://nsearchives.nseindia.com/corporate/Ranjan_06042026181501_VIL.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_30907_VMARCIND_2025_2026_A_34714847_31082026180152.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_27490_VMARCIND_2024_2025_A_19082025111414.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_24994_VMARCIND_2023_2024_17082024171523.pdf) |
| from nse | [Annual Report 2023 from nse](https://archives.nseindia.com/annual_reports/SME_AR_22836_VMARCIND_2022_2023_21082023133716_08212023140001.zip) |
| from nse | [Annual Report 2022 from nse](https://archives.nseindia.com/annual_reports/SME_AR_20747_VMARCIND_2021_2022_19082022154611_08192022160010.zip) |
| from nse | [Annual Report 2021 from nse](https://archives.nseindia.com/annual_reports/SME_AR_19096_VMARCIND_2020_2021_01092021003250_09012021070004.zip) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Nov 2025 | [Concall - Nov 2025](https://nsearchives.nseindia.com/corporate/Ranjan_07112025181743_VIL.pdf) |
| Nov 2024 | [Concall - Nov 2024](https://nsearchives.nseindia.com/corporate/VMARCIND_11112024191157_VIL.pdf) |
| May 2025 | [Concall - May 2025](https://nsearchives.nseindia.com/corporate/Ranjan_12052025190900_VIL.pdf) |
| Apr 2021 | [Concall - Apr 2021](https://archives.nseindia.com/corporate/VMARCIND_22042021121908_InvestorPresentation.pdf) |

---

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 2026-09-13T19:14:35.387Z.