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Vraj Iron & Steel Ltd.
(VRAJ)
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Rating:58Neutral
Price Target:
₹133.00
▲(1.41% Upside)
Action:Reiterated
Date:05/31/26
The score is primarily constrained by weakening fundamentals and persistently negative free cash flow in 2024–2026, partially offset by a strong, low-leverage balance sheet. Technicals are mixed (near-term improvement but below the 200-day trend), while valuation is moderate with limited yield visibility.
Positive Factors
Balance-sheet strength (low leverage)
Very low leverage (debt-to-equity ~0.10 in 2026) and a growing equity base provide durable financial flexibility. This reduces refinancing risk, increases capacity to fund cyclical downturns or opportunistic investments, and supports capital allocation without immediate reliance on external debt markets.
Negative Factors
Persistently negative free cash flow
Sustained negative free cash flow over multiple years signals heavy capex or working-capital absorption that erodes internally generated liquidity. Over time this heightens funding requirements, raises execution risk for investments, and can force reliance on external financing or equity issuance.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance-sheet strength (low leverage)
Very low leverage (debt-to-equity ~0.10 in 2026) and a growing equity base provide durable financial flexibility. This reduces refinancing risk, increases capacity to fund cyclical downturns or opportunistic investments, and supports capital allocation without immediate reliance on external debt markets.
Read all positive factors
Vraj Iron & Steel Ltd. (VRAJ) vs. iShares MSCI India ETF (INDA)
Market Cap
₹3.84B
Dividend YieldN/A
Average Volume (3M)2.23K
Price to Earnings (P/E)12.0
Beta (1Y)1.84
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-0.30
Price to Book (P/B)0.73
Price to Sales (P/S)0.53
P/FCF Ratio-4.20
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, an Indian company established in Raipur in 2004, specializes in the production and distribution of diverse iron and steel materials. Their core product line, marketed under the 'Vraj' brand, encompasses sponge iron, MS...
How the Company Makes Money
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Vraj Iron & Steel Ltd. Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
78
Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.44B | 5.88B | 4.75B | 4.20B | 5.16B | 4.14B |
| Gross Profit | 1.21B | 945.94M | 1.32B | 1.35B | 749.15M | 446.70M |
| EBITDA | 607.76M | 567.28M | 683.02M | 764.37M | 813.15M | 496.62M |
| Net Income | 335.95M | 320.05M | 440.87M | 574.08M | 539.97M | 287.04M |
Balance Sheet | ||||||
| Total Assets | 4.65B | 4.96B | 4.17B | 2.81B | 1.92B | 1.51B |
| Cash, Cash Equivalents and Short-Term Investments | 323.20M | 56.86M | 401.42M | 369.59M | 52.64M | 2.78M |
| Total Debt | 268.37M | 426.38M | 22.81M | 632.67M | 245.55M | 440.85M |
| Total Liabilities | 516.07M | 657.32M | 203.96M | 801.81M | 506.24M | 636.35M |
| Stockholders Equity | 4.13B | 4.30B | 3.97B | 2.00B | 1.41B | 871.39M |
Cash Flow | ||||||
| Free Cash Flow | -324.72M | -744.22M | -812.82M | -449.47M | 601.20M | 39.63M |
| Operating Cash Flow | 3.50M | 307.23M | 136.35M | 192.20M | 616.81M | 87.44M |
| Investing Cash Flow | -247.26M | -716.69M | -1.03B | -555.13M | -420.07M | -13.59M |
| Financing Cash Flow | 239.35M | 402.00M | 900.64M | 362.80M | -196.88M | -72.15M |
Vraj Iron & Steel Ltd. Technical Analysis
Negative
131.15
Price Trends
125.62
Negative
122.92
Negative
131.12
Negative
Market Momentum
-1.33
Positive
40.02
Neutral
27.79
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 122.41, above the 50-day MA of 125.62, and above the 200-day MA of 131.12, indicating a bearish trend. The MACD of -1.33 indicates Positive momentum. The RSI at 40.02 is Neutral, neither overbought nor oversold. The STOCH value of 27.79 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 |
|---|---|---|---|---|---|---|---|
62 Neutral | ₹4.82B | 7.99 | ― | ― | 78.34% | 520.57% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
58 Neutral | ₹3.84B | 12.04 | ― | ― | 23.77% | -27.41% | |
53 Neutral | ₹4.22B | 56.64 | ― | ― | -11.93% | -43.86% | |
49 Neutral | ₹2.16B | 24.78 | ― | ― | 15.35% | -25.26% | |
48 Neutral | ₹3.47B | 53.42 | ― | ― | 39.78% | -73.76% |
* Basic Materials Sector Average
IN:VRAJ
Vraj Iron & Steel Ltd.
116.35
-63.65
-35.36%
IN:BEDMUTHA
Bedmutha Industries Limited
107.55
-44.20
-29.13%
IN:MANAKSTEEL
Manaksia Steels Ltd
73.58
8.36
12.82%
IN:SHIVAUM
Shiv Aum Steels Ltd.
391.80
89.80
29.74%
IN:SURAJLTD
Suraj Limited
230.00
-160.02
-41.03%
IN:VSTL
Vibhor Steel Tubes Ltd.
114.05
-42.95
-27.36%
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.