Statement Of Deviation Or Variation In Utilization Of Funds Raised Under Initial Public Offering- Regulation 32 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015
Vapi Enterprise Ltd operates in Paper & Paper Products within the Materials sector.
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| Company | Mkt Cap | EV | Revenue | EBITDA | OPM | PAT | NPM | ROCE | ROE | WC Days |
|---|---|---|---|---|---|---|---|---|---|---|
| Jk Paper LimitedJKPAPERJKPAPER | ₹6,937 Cr | ₹9,373 Cr | ₹7,365 Cr | ₹968 Cr | 13.1% | ₹324 Cr | 3.9% | 7.4% | 4.9% | 69 |
| West Coast Paper Mills LimitedWSTCSTPAPRWSTCSTPAPR | ₹4,802 Cr | ₹5,116 Cr | ₹4,389 Cr | ₹505 Cr | 9.7% | ₹237 Cr | 3.6% | 6% | 4.4% | 106 |
| Seshasayee Paper And Boards LimitedSESHAPAPERSESHAPAPER | ₹1,491 Cr | ₹1,491 Cr | ₹1,817 Cr | ₹119 Cr | 5.6% | ₹99 Cr | 4.8% | 4.6% | 4.1% | 79 |
| Andhra Paper LimitedANDHRAPAPANDHRAPAP | ₹1,419 Cr | ₹1,652 Cr | ₹1,702 Cr | ₹82 Cr | 4% | ₹28 Cr | 1.1% | 2% | 1% | 68 |
| N R Agarwal Industries LimitedNRAILNRAIL | ₹1,121 Cr | ₹1,910 Cr | ₹2,340 Cr | ₹232 Cr | 8.1% | ₹62 Cr | 2% | 8.8% | 5.5% | 44 |
| Tamil Nadu Newsprint & Papers LimitedTNPLTNPL | ₹1,022 Cr | ₹2,620 Cr | ₹4,649 Cr | ₹494 Cr | 10.4% | ₹261 Cr | 5.3% | 7% | 11.3% | -31 |
| Pudumjee Paper Products LimitedPDMJEPAPERPDMJEPAPER | ₹907 Cr | ₹930 Cr | ₹814 Cr | ₹125 Cr | 15.3% | ₹91 Cr | 11.6% | 17.8% | 14.9% | 91 |
| Emami Paper Mills LimitedEMAMIPAPEMAMIPAP | ₹707 Cr | ₹1,524 Cr | ₹2,008 Cr | ₹241 Cr | 10.3% | ₹94 Cr | 3.2% | 14% | 9.8% | 107 |
| Satia Industries LimitedSATIASATIA | ₹683 Cr | ₹982 Cr | ₹1,443 Cr | ₹119 Cr | 9.1% | ₹-8 Cr | 2.8% | 4.6% | 3.8% | 110 |
| Kuantum Papers LimitedKUANTUMKUANTUM | ₹670 Cr | ₹1,530 Cr | ₹1,174 Cr | ₹162 Cr | 14.8% | ₹36 Cr | 3.8% | 5.4% | 3.4% | 77 |
| Shree Rama Newsprint LimitedRAMANEWSRAMANEWS | ₹433 Cr | ₹810 Cr | ₹33 Cr | ₹-2 Cr | 0.7% | ₹-69 Cr | -209.4% | 0.8% | — | -50 |
| Orient Paper & Industries LimitedORIENTPPRORIENTPPR | ₹344 Cr | ₹631 Cr | ₹895 Cr | ₹-32 Cr | -4.2% | ₹-71 Cr | -3.2% | -4.2% | -1.9% | 32 |
Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 2.4% | 19.2% | 19% | 16.9% | -17.5% | — | — | — |
| EBIT margin % | 2.4% | 19.2% | 12.3% | 9.7% | -26.6% | — | — | — |
| PAT margin % | -1% | 15.8% | 10.9% | 11% | 2,691.6% | — | — | — |
| Working capital | ||||||||
| Receivable days | — | — | 41 | 35 | 38 | — | — | — |
| Inventory days | — | — | 0 | 0 | 0 | — | — | — |
| Payable days | — | — | 6 | 2 | 2 | — | — | — |
| NWC days | — | — | 35 | 34 | 36 | — | — | — |
| Leverage | ||||||||
| Current ratio | — | — | 4.33 | 1.03 | 3.57 | 54.48 | 58.56 | — |
| Debt to EBITDA | — | — | 13.91 | 18.22 | — | — | — | — |
| Debt to equity | — | — | -1.42 | -1.45 | 0.01 | 0.01 | 0.01 | 0.01 |
| Interest coverage | 1.8 | — | — | — | — | — | — | — |
| Asset turnover | — | — | 0.83 | 0.1 | 0.03 | 0 | 0 | 0 |
| Return ratios | ||||||||
| Return on assets % | — | — | 9.1% | 1.1% | 82.8% | 2.3% | 3.6% | 3.9% |
| Return on capital employed % | — | — | 11.6% | 12.5% | 7.7% | 4.1% | 5% | 5.3% |
| Return on equity % | — | — | -5.9% | -5.2% | 115% | 2.4% | 3.7% | 4% |
Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.
| Holder (%) | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 38.79% | 38.79% | 38.79% | 38.79% | 38.79% | 38.79% | 38.79% | 38.79% | 38.79% | 38.79% | 38.35% | 38.35% | |
| FII | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 0% | 0% | 0% | 0% | 0% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 61.2% | 61.2% | 61.2% | 61.2% | 61.2% | 61.2% | 61.2% | 61.2% | 61.2% | 61.2% | 61.64% | 61.64% | |
| No. of shareholders | — | — | — | — | — | — | — | — | 1,318 | 1,317 | 1,303 | 1,294 |
Promoter holding down 0.44 percentage points since Sep 2023.
| Date | Client | Type | Venue | Side | Quantity | Price | Value |
|---|---|---|---|---|---|---|---|
| 29 Jul 2026 | GUTTIKONDA VARA LAKSHMI | Bulk | BSE | Buy | 14,828 | ₹148.25 | ₹0.22 Cr |
| 3 Mar 2025 | DARSHANA YAGNESH SHAH | Bulk | BSE | Sell | 11,590 | ₹96.60 | ₹0.11 Cr |
| 3 Mar 2025 | RAHUL ANANTRAI MEHTA | Bulk | BSE | Buy | 11,590 | ₹96.60 | ₹0.11 Cr |
Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.
Current officeholders as filed with BSE. A person holding two offices is listed once per office.
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No scheme among the 32 fund houses on record reported a position in Vapi Enterprise Ltd. Portfolios are published monthly by each AMC; coverage is still partial.
Documents link to external sources (exchange filings, company investor pages).
Statement Of Deviation Or Variation In Utilization Of Funds Raised Under Initial Public Offering- Regulation 32 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015
Results For Financial Year Ended 31St March, 2026
Board Meeting Outcome for Outcome Of Board Meeting Held On 26Th May, 2026
Board Meeting Intimation for Intimation Of Board Meeting- Tuesday- 26Th May, 2026
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
Closure of Trading Window
| Date | Category | Subject | Filing |
|---|---|---|---|
| 26 May 2026, 5:46 pm | Company Update Reg. 32 (1), (3) - Statement of Deviation & Variation | Statement Of Deviation Or Variation In Utilization Of Funds Raised Under Initial Public Offering- Regulation 32 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 | |
| 26 May 2026, 5:32 pm | Result Financial Results |
Results For Financial Year Ended 31St March, 2026 |
| 26 May 2026, 5:20 pm | Board Meeting Outcome of Board Meeting | Board Meeting Outcome for Outcome Of Board Meeting Held On 26Th May, 2026 |
| 7 May 2026, 10:37 am | Board Meeting | Board Meeting Intimation for Intimation Of Board Meeting- Tuesday- 26Th May, 2026 |
| 7 Apr 2026, 12:05 pm | Company Update Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 | Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 |
| 7 Apr 2026, 12:04 pm | Company Update Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 | Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 |
| 7 Apr 2026, 11:59 am | Others Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A | Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A |
| 24 Mar 2026, 11:28 pm | Insider Trading / SAST Closure of Trading Window | Closure of Trading Window |
| ₹ Cr | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 3 | 2 | 3 | 3 | 3 | 3 | 2 | 1 | 0 | 0 | 0 | |
| 3 | 3 | 3 | 3 | 3 | 2 | 2 | 2 | 1 | 0 | 0 | |
| -0 | -1 | 0 | 0 | 1 | 1 | 0 | -0 | -1 | -0 | -0 | |
| OPM % | -15.2% | -25.1% | 2.1% | 2.4% | 19.2% | 19% | 16.9% | -17.5% | — | — | — |
| Depreciation | — | — | — | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | — | 0 | 0 | 0 | 0 | 0 | 0 |
| — | 0 | — | — | — | 0 | 0 | 49 | 2 | 2 | 2 | |
| Profit before tax | 0 | 0 | 0 | -0 | 1 | 0 | 0 | 49 | 1 | 2 | 2 |
| Tax | — | — | — | — | — | 0 | 0 | 11 | 0 | 0 | 0 |
| Tax % | — | — | — | — | — | 13.9% | 34.2% | 21.4% | 33.1% | 24.6% | 24.2% |
| 0 | 0 | 0 | -0 | 1 | 0 | 0 | 38 | 1 | 1 | 1 | |
| PAT margin % | 12.2% | 6.1% | 7.8% | -1% | 15.8% | 10.9% | 11% | — | — | — | — |
| EPS (₹) | 1.5 | 0.6 | 1 | -0.1 | 2.3 | 1.4 | 1.1 | 168.7 | 3.7 | 5.8 | 6.6 |
| EPS adjusted (₹) | — | — | — | — | — | 1.4 | 1.1 | 168.8 | 3.6 | 5.8 | 6.5 |
| Annual report | Annual report for Mar 2016 | Annual report for Mar 2017 | Annual report for Mar 2018 | Annual report for Mar 2019 | Annual report for Mar 2020 | Annual report for Mar 2021 | Annual report for Mar 2022 | Annual report for Mar 2023 | Annual report for Mar 2024 | Annual report for Mar 2025 | Annual report for Mar 2026 |
| ₹ Cr | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 2 | 2 | 2 | 2 | 2 | 2 |
| Reserves | -8 | -7 | 31 | 32 | 33 | 35 |
| Minority interest | — | — | — | — | 0 | — |
| 8 | 7 | 0 | 0 | 0 | 0 | |
| 1 | 21 | 13 | 1 | 1 | 1 | |
| Total equity & liabilities | 3 | 24 | 47 | 35 | 37 | 38 |
| 2 | 2 | 1 | 0 | 0 | 0 | |
| CWIP | 0 | 0 | — | — | — | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| 2 | 22 | 45 | 35 | 37 | 38 | |
| Total assets | 3 | 24 | 47 | 35 | 37 | 38 |
| ₹ Cr | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| 0 | -20 | 8 | 9 | -1 | -7 | |
| 0 | 20 | 31 | 3 | 2 | 2 | |
| -0 | -0 | -7 | -12 | -0 | 0 | |
| Net cash flow | 0 | 0 | 32 | -0 | 1 | -5 |
| Free cash flow | 0 | -20 | 8 | 9 | -1 | -7 |
| CFO / Operating profit % | 81.5% | — | — | — | — | — |