Vikas Wsp Limited (VIKASWSP) AI Stock Analysis

• Market Cap: ₹212.62M
• Dividend Yield: N/A
• Average Volume (3M): 20.29K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.33
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: IN
• Employees: 700
• Sector: Services
• Sector Strength: N/A
• Industry: Chemicals - Specialty
• EPS (TTM): -0.43
• Shares Outstanding: 204,439,600
• 10 Day Avg. Volume: 25,359
• 30 Day Avg. Volume: 20,286
• PEG Ratio: 1.39
• Price to Book (P/B): 0.04
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 70.53K
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 43 Neutral
• Price Target: ₹1.00 ▼(-17.36% Downside)
• Action: N/A Date: 01/04/26
• Date: Action: N/A 01/04/26

The score is driven primarily by very weak financial performance (near-zero revenue and sustained losses) and fragile cash generation. Technicals are neutral-to-soft with the price below longer-term moving averages and slightly negative MACD, while valuation metrics are not supportive due to negative earnings and no dividend data.

Positive Factors

Business model: yarn manufacturing

The company operates a basic B2B manufacturing model producing yarn for downstream textile processors and fabric/apparel manufacturers. That role as an essential industrial supplier provides a structurally relevant customer base and predictable industrial demand compared with trend-driven retail exposure.

Moderate leverage

Reported debt-to-equity near 0.37–0.39 indicates leverage that is not excessive by industrial standards. With manageable debt levels the company has greater flexibility to run restructuring or operational recovery without immediate solvency pressure, giving time to restore profitability if revenues recover.

Some recent positive cash flow

Despite volatility, FCF returned to small positives in 2023–2025 and operating cash flow has been positive in some years. This indicates the business can generate cash under certain conditions, which supports short-term liquidity and offers a foundation for incremental reinvestment or cost-first recovery efforts.

Negative Factors

Revenue collapse

A near-zero revenue base profoundly undermines core economics: fixed costs become harder to absorb, scale advantages disappear, and customer/supplier relationships can deteriorate. Without a durable revenue restoration, margin recovery and sustainable operations are unlikely over the medium term.

Fragile cash generation

Inconsistent operating cash flows and very small OCF in 2025 create liquidity risk. Prior negative FCF years and swings mean the company may need external financing to fund operations or capex, constraining strategic flexibility and increasing long-term financing and execution risk.

Erosion of equity and returns

Declining equity and persistent negative ROE signal ongoing value erosion and a shrinking capital buffer. That reduces resilience to shocks, makes future capital raises more dilutive or costly, and indicates the company has struggled to convert capital into positive returns for shareholders.

Vikas Wsp Limited Business Overview & Revenue Model

Company Description

Vikas WSP Limited manufactures and exports guar gum powder in India, the United States, Europe, and internationally. The company offers guar derivatives and polymers for the food, cosmetics, explosives, mining and minerals, oil fields, paper, pharmaceutical, textile, and tobacco industries, as well as for animal feed and wildfire control applications. Vikas WSP Limited was incorporated in 1988 and is based in Sri Ganganagar, India.

How the Company Makes Money

Vikas Wsp Limited Financial Statement Overview

Summary

Overall financial quality is weak: revenue has effectively collapsed to near-zero in 2024–2025 and profitability remains deeply negative. Cash flow is volatile and recently near-zero, while the balance sheet shows only moderate leverage but declining equity and negative returns, increasing risk without a clear turnaround.

Income Statement

Operating performance is extremely weak. Revenue has effectively collapsed to zero in the most recent annual periods (2024–2025), and profitability remains deeply negative (gross profit, operating profit, and net income are all losses). While losses are smaller than the very large loss reported in 2022, there is no clear evidence of a sustainable earnings recovery given the absence of revenue.

Balance Sheet

The balance sheet shows moderate leverage with debt-to-equity around ~0.37–0.39 in recent years, which is not excessive on its own. However, equity has been trending down from 2020 to 2025 and returns on equity are consistently negative, indicating ongoing value erosion. Debt levels are elevated versus 2020 and remain a key risk if operating losses persist.

Cash Flow

Cash generation is fragile and inconsistent. Operating cash flow is positive in some years but very small recently (near-zero in 2025), and it was negative in 2022. Free cash flow has swung from strong positive (2020) to negative (2021–2022) and then back to small positives (2023–2025), suggesting limited underlying cash-earning power and potential funding reliance if losses continue.

Breakdown	TTM	Mar 2025	Jun 2024	Sep 2022	Mar 2022	Mar 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	230.95M	2.22B
Gross Profit	-341.60M	-341.60M	-341.60M	0.00	-471.19M	-186.18M
EBITDA	-13.44M	-13.34M	-13.34M	-20.09M	-1.16B	-430.06M
Net Income	-266.20M	-266.11M	-266.19M	-327.25M	-1.64B	-1.15B
Balance Sheet
Total Assets	0.00	14.48B	14.73B	14.98B	14.98B	15.85B
Cash, Cash Equivalents and Short-Term Investments	51.66M	55.35M	55.35M	55.13M	193.00K	8.67M
Total Debt	0.00	3.07B	3.07B	3.07B	3.07B	1.06B
Total Liabilities	-7.87B	6.60B	6.59B	6.58B	6.26B	5.49B
Stockholders Equity	7.87B	7.87B	8.14B	8.40B	8.73B	10.36B
Cash Flow
Free Cash Flow	-748.00	4.00K	227.00K	742.00K	-9.46M	-1.19M
Operating Cash Flow	-748.00	4.00K	227.00K	742.00K	-9.46M	1.88M
Investing Cash Flow	0.00	0.00	0.00	0.00	985.00K	-3.08M
Financing Cash Flow	0.00	0.00	0.00	0.00	2.00B	-761.00K

Vikas Wsp Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NARMADA	70 Outperform	₹1.19B	20.06	―	―	23.65%	-41.93%
BSL	58 Neutral	₹1.31B	33.72	―	0.51%	-0.22%	-51.08%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
VIKASWSP	43 Neutral	₹212.62M	-0.68	―	―	―	―
SHANTI	39 Underperform	₹74.30M	1.54	―	―	220.47%	-47.38%