VicPlas International Ltd. (569) AI Stock Analysis

• Market Cap: S$44.46M
• Dividend Yield: N/A
• Average Volume (3M): 97.25K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.64
• Revenue Growth: 13.07%
• EPS Growth: -70.37%
• Country: SG
• Employees: 1,000
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): >-0.01
• Shares Outstanding: 511,537,700
• 10 Day Avg. Volume: 66,350
• 30 Day Avg. Volume: 97,253
• PEG Ratio: -0.28
• Price to Book (P/B): 0.65
• Price to Sales (P/S): 0.39
• P/FCF Ratio: -7.77
• 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: 58 Neutral
• Price Target: S$0.09 ▲(0.00% Upside)
• Action: Reiterated Date: 10/29/25
• Date: Action: Reiterated 10/29/25

VicPlas International Ltd. faces significant financial challenges, with profitability and cash flow issues being the most pressing concerns. Despite these challenges, the stock shows positive technical momentum, which could attract short-term traders. However, the negative P/E ratio and lack of dividend yield present valuation concerns. Investors should be cautious and consider the company's ability to improve its financial health before making long-term commitments.

Positive Factors

High gross profit margin

A 55.10% gross margin indicates the company captures strong product-level economics, providing a durable buffer to absorb SG&A and R&D. This margin strength supports long-term profitability potential if operational leverage improves and helps sustain pricing flexibility in medical devices.

Consistent revenue growth

Steady revenue growth demonstrates ongoing demand and market penetration in its medical-device niche. Consistent top-line expansion helps justify incremental investment, enables scale advantages over time, and provides a foundation for margin improvement if cost structure is optimized.

Improving free cash flow trend

A 19.64% increase in free cash flow (despite current negativity) signals operational improvements and better working-capital management. If sustained, this trend points to potential eventual positive cash generation, reducing reliance on external financing and supporting long-term financial flexibility.

Negative Factors

Negative net profit margin

A negative net margin shows the company currently cannot convert gross profits into net earnings, reflecting structural cost or operating inefficiencies. Persisting losses impair retained earnings, constrain reinvestment, and make achieving durable profitability more challenging without operational change.

Negative return on equity

Negative ROE indicates the business destroys shareholder capital rather than generating returns, a fundamental weakness. Over the medium term, sustained negative ROE limits ability to attract equity funding and signals that current strategy or execution is not creating long-term shareholder value.

Weak cash conversion

Very low cash conversion and persistently negative free cash flow highlight structural liquidity and working-capital issues. Poor cash generation undermines the firm's ability to fund growth, service debt, or invest in R&D without external funding, raising medium-term financing risk.

VicPlas International Ltd. Business Overview & Revenue Model

Company Description

Vicplas International Ltd, an investment holding company, engages in the medical devices, and pipes and pipe fittings businesses in Singapore, Malaysia, the People's Republic of China, and the United Kingdom. The company manufactures, trades, and distributes piping systems for various industries, including waste and potable water systems for residential homes, schools, and commercial and industrial buildings; underground electrical and internal building wire piping systems; and data and signal line piping systems by telecommunications companies. It also designs, develops, manufactures, and assembles sterile and non-sterile medical devices; and provides project design and engineering services. Vicplas International Ltd was founded in 1993 and is headquartered in Singapore. Vicplas International Ltd is a subsidiary of Venner Capital S.A.

VicPlas International Ltd. Financial Statement Overview

Summary

VicPlas International Ltd. is experiencing financial challenges despite moderate revenue growth. The company has a stable gross profit margin but struggles with profitability, as indicated by a negative net profit margin and low EBIT margin. The balance sheet shows moderate leverage, but the negative return on equity is concerning. Cash flow analysis reveals growth in free cash flow, yet the overall cash position is weak.

Income Statement

VicPlas International Ltd. has shown a moderate revenue growth rate of 4.61% in the latest year, with a gross profit margin of 55.10%. However, the company is facing challenges with profitability, as indicated by a negative net profit margin of -1.95%. The EBIT margin is also low at 0.84%, suggesting operational inefficiencies. Despite these challenges, the company has managed to increase its revenue over the past year.

Balance Sheet

The company's debt-to-equity ratio stands at 0.58, indicating a moderate level of leverage. The return on equity is negative at -3.30%, reflecting the company's struggle to generate profits from shareholders' equity. The equity ratio is not explicitly provided, but the overall balance sheet suggests a stable asset base with moderate leverage.

Cash Flow

VicPlas International Ltd. has experienced a positive free cash flow growth rate of 19.64%, but the free cash flow remains negative. The operating cash flow to net income ratio is low at 0.78%, indicating that the company's cash generation from operations is insufficient to cover its net losses. The free cash flow to net income ratio is significantly negative, highlighting cash flow challenges.

Breakdown	Jul 2025	Jul 2024	Jul 2023	Jul 2022	Jul 2021
Income Statement
Total Revenue	120.81M	102.39M	129.22M	130.81M	113.94M
Gross Profit	66.57M	52.42M	66.19M	68.06M	60.84M
EBITDA	7.01M	6.93M	13.18M	17.93M	19.03M
Net Income	-2.36M	-1.36M	4.24M	8.84M	10.40M
Balance Sheet
Total Assets	137.71M	131.49M	119.02M	130.34M	111.66M
Cash, Cash Equivalents and Short-Term Investments	4.71M	4.97M	8.57M	8.89M	9.87M
Total Debt	41.11M	32.47M	17.55M	28.01M	19.57M
Total Liabilities	66.32M	56.93M	40.46M	52.03M	40.01M
Stockholders Equity	71.39M	74.57M	78.56M	78.31M	71.64M
Cash Flow
Free Cash Flow	-5.99M	-7.82M	12.53M	-2.61M	3.83M
Operating Cash Flow	388.00K	6.72M	17.88M	10.25M	9.01M
Investing Cash Flow	-6.36M	-14.53M	-5.10M	-12.79M	-5.16M
Financing Cash Flow	5.75M	4.24M	-12.76M	1.63M	1.86M

VicPlas International Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.09
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:569, the sentiment is Negative. The current price of 0.09 is below the 20-day moving average (MA) of 0.09, below the 50-day MA of 0.09, and above the 200-day MA of 0.09, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 47.69 is Neutral, neither overbought nor oversold. The STOCH value of 40.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SG:569.

VicPlas International Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
1B1	67 Neutral	S$56.14M	5.19	34.20%	3.37%	1.58%	115.29%
569	58 Neutral	S$44.46M	-19.74	-3.22%	―	13.07%	-70.37%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
8YY	42 Neutral	S$90.14M	-6.84	-300.34%	―	―	―

VicPlas International Ltd. Corporate Events

VicPlas International Conducts 27th AGM with Poll Voting and Enhanced Shareholder Engagement

VicPlas International Ltd. held its twenty-seventh annual general meeting (AGM) on 28 November 2025 at the Devan Nair Institute in Singapore, with a valid quorum present and the AGM formally opened at 3:00 p.m. The board and senior management, including the group CEO, CFO and operations director, were introduced to shareholders, and a corporate presentation on the group’s activities was delivered, with the materials made available on the Singapore Exchange website. All resolutions at the AGM were conducted by poll, with B.A.C.S. Private Limited appointed as polling agent and CACS Corporate Advisory Pte. Ltd. as scrutineer, and the chairman also served as proxy for certain shareholders, voting according to their instructions. Shareholders were informed that questions had been received in advance and that the company’s responses had been published on SGXNet, while the scrutineer briefed attendees on the detailed polling and voting procedures, underscoring the company’s emphasis on transparency and orderly shareholder engagement.

The most recent analyst rating on (SG:569) stock is a Hold with a S$0.10 price target. To see the full list of analyst forecasts on VicPlas International Ltd. stock, see the SG:569 Stock Forecast page.