Vraj Iron & Steel Ltd. (IN:VRAJ)
:VRAJ
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Vraj Iron & Steel Ltd.
(VRAJ)
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Rating:53Neutral
Price Target:
₹129.00
▼(-1.64% Downside)
Action:Reiterated
Date:04/01/26
The score is primarily supported by solid financial structure and revenue growth, but pulled down by negative free cash flow and declining profitability. Technicals are notably weak with price below key moving averages and negative MACD, and valuation looks stretched with a very high P/E and no dividend yield provided.
Positive Factors
Revenue Growth
Nearly 30% year-over-year revenue growth points to expanding sales and market traction in the company's steel operations. Sustained top-line expansion provides a durable base for margin recovery and investment; if managed well, it supports cash generation and competitive position over the next 2–6 months.
Negative Factors
Negative Free Cash Flow
Negative free cash flow in 2025 indicates the company consumed cash after investments, creating liquidity pressure. If this persists, it can force external borrowing, delay maintenance or growth capex, and erode the balance sheet buffer, presenting a material funding and execution risk over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Nearly 30% year-over-year revenue growth points to expanding sales and market traction in the company's steel operations. Sustained top-line expansion provides a durable base for margin recovery and investment; if managed well, it supports cash generation and competitive position over the next 2–6 months.
Read all positive factors
Vraj Iron & Steel Ltd. (VRAJ) vs. iShares MSCI India ETF (INDA)
Market Cap
₹4.04B
Dividend YieldN/A
Average Volume (3M)2.23K
Price to Earnings (P/E)15.3
Beta (1Y)1.89
Revenue Growth23.77%
EPS Growth-27.41%
CountryIN
Employees302
SectorBasic Materials
Sector Strength58
IndustrySteel
Share Statistics
EPS (TTM)10.61
Shares Outstanding32,982,620
10 Day Avg. Volume1,413
30 Day Avg. Volume2,232
Financial Highlights & Ratios
PEG Ratio-0.29
Price to Book (P/B)1.24
Price to Sales (P/S)1.03
P/FCF Ratio-6.03
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Vraj Iron & Steel Ltd. Business Overview & Revenue Model
Company Description
Vraj Iron and Steel Limited manufactures and sells sponge iron, MS billets, and TMT bars under the Vraj brand in India. The company also offers iron pellets, steel billets, TMT wire rods and structural mills, and ferroalloy products; and by-produc...
How the Company Makes Money
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Vraj Iron & Steel Ltd. Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
75
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.44B | 4.75B | 4.20B | 5.16B | 4.14B | 2.91B |
| Gross Profit | 1.21B | 1.32B | 1.35B | 749.15M | 446.70M | 226.18M |
| EBITDA | 607.76M | 683.02M | 764.37M | 813.15M | 496.62M | 278.80M |
| Net Income | 335.95M | 440.87M | 574.08M | 539.97M | 287.04M | 109.85M |
Balance Sheet | ||||||
| Total Assets | 4.65B | 4.17B | 2.81B | 1.92B | 1.51B | 1.26B |
| Cash, Cash Equivalents and Short-Term Investments | 323.20M | 401.42M | 369.59M | 52.64M | 2.78M | 1.08M |
| Total Debt | 268.37M | 22.81M | 632.67M | 245.55M | 440.85M | 473.51M |
| Total Liabilities | 516.07M | 203.96M | 801.81M | 506.24M | 636.35M | 686.11M |
| Stockholders Equity | 4.13B | 3.97B | 2.00B | 1.41B | 871.39M | 573.88M |
Cash Flow | ||||||
| Free Cash Flow | -324.72M | -812.82M | -449.47M | 601.20M | 39.63M | 126.43M |
| Operating Cash Flow | 3.50M | 136.35M | 192.20M | 616.81M | 87.44M | 165.92M |
| Investing Cash Flow | -247.26M | -1.03B | -555.13M | -420.07M | -13.59M | -60.01M |
| Financing Cash Flow | 239.35M | 900.64M | 362.80M | -196.88M | -72.15M | -161.49M |
Vraj Iron & Steel Ltd. Technical Analysis
Negative
131.15
Price Trends
121.19
Positive
124.44
Negative
134.48
Negative
Market Momentum
-0.78
Positive
45.22
Neutral
27.50
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:VRAJ, the sentiment is Negative. The current price of 131.15 is above the 20-day moving average (MA) of 126.74, above the 50-day MA of 121.19, and below the 200-day MA of 134.48, indicating a neutral trend. The MACD of -0.78 indicates Positive momentum. The RSI at 45.22 is Neutral, neither overbought nor oversold. The STOCH value of 27.50 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:VRAJ.
Vraj Iron & Steel Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
53 Neutral | ₹4.04B | 15.31 | ― | ― | 23.77% | -27.41% | |
52 Neutral | ₹1.41B | 3.37 | ― | ― | -81.50% | ― | |
51 Neutral | ₹5.93B | -104.74 | ― | ― | -44.93% | -374.24% | |
44 Neutral | ₹909.17M | 15.77 | ― | ― | -54.95% | 1930.38% | |
41 Neutral | ₹170.59M | -2.32 | ― | ― | -100.00% | 71.58% |
* Basic Materials Sector Average
IN:VRAJ
Vraj Iron & Steel Ltd.
122.50
-60.00
-32.88%
IN:ANKITMETAL
Ankit Metal & Power Limited
1.59
-0.75
-32.05%
IN:IMPEXFERRO
Impex Ferro Tech Ltd
1.94
-0.22
-10.19%
IN:SALSTEEL
S.A.L. Steel Ltd.
56.93
38.79
213.84%
IN:SHAHALLOYS
Shah Alloys Limited
71.15
16.05
29.13%
IN:ZENITHSTL
Zenith Steel Pipes & Industries Limited
6.39
-0.60
-8.58%
Vraj Iron & Steel Ltd. Corporate Events
Vraj Iron & Steel Promoters Reaffirm Unencumbered Holdings, Consolidate Group via Mergers
Apr 29, 2026
Promoter Vijay Anand Jhanwar has disclosed that he, along with other promoters and persons acting in concert, collectively holds 24,721,720 equity shares of Vraj Iron Steel Ltd. as of March 31, 2026, and that no encumbrances were created on these...
Promoter Gopal Sponge Lifts Stake in Vraj Iron & Steel to 71.36% via Merger
Apr 29, 2026
Gopal Sponge and Power Private Limited, a promoter group entity of Vraj Iron Steel Ltd., has reported the acquisition of 5,555,500 equity shares of the company through an off-market inter-se transfer. The shares were acquired as part of a court-s...
Gopal Sponge Raises Vraj Iron & Steel Stake to 71.36% After Group Merger
Apr 29, 2026
Gopal Sponge and Power Private Ltd, part of the promoter group of Vraj Iron Steel Ltd, has acquired 5,555,500 equity shares of the company via an off-market inter-se transfer. The transfer followed a sanctioned merger in which three group entitie...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.