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Vijay Solvex Ltd (VIJSOLX) · mywealthgrid

Vijay Solvex Ltd

BSE:VIJSOLX

Consumer StaplesAgricultural Food & other Products

₹623.3

-0.29%1 Oct close

Mkt cap

₹199 Cr

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About

Vijay Solvex Ltd operates in edible oil production within consumer staples' agricultural food and other products industry. With a market cap of ₹221.6 Crore and recent quarterly revenue around ₹476 Crore (Mar 2025), it competes in the Indian edible oil market.

Face value: ₹10

Market cap

₹199 Cr

P/E

67.8×

P/B

0.6×

Dividend yield

ROE

0.9%

ROCE

1.4%

Debt / equity

0.03

OPM

0.2%

EPS (TTM)

₹9.2

Book value

₹1,008.2

52-week high

—

52-week low

—

Key insights

Company research notes and source-linked reviews

Key risks

Razor-thin margins: OPM of 0.24% with a PE of 75.37 leaves little cushion for commodity price swings or cost inflation; verify hedging policies and input cost exposure
Earnings volatility: net profit swung from -₹5.95 Cr (Dec 2023) to +₹7.36 Cr (Dec 2024), driven by commodity cycle sensitivity; verify demand predictability and cost control
Poor capital efficiency: ROE of 0.92% signals the company struggles to generate shareholder returns; verify if this is structural or cyclical
Stock down 16% over 12 months despite recent profitability improvement—may reflect market skepticism about margin sustainability or sector concerns

Generated analysis · source review pending

Growth drivers

Recent margin recovery: OPM of 1.73% (Mar 2025) and 2.09% (Dec 2024) versus long-term 0.24% average; if sustained, could compound earnings on stable revenue
Consistent revenue base: quarterly revenue has ranged ₹376–544 Crore; verify if management has identified volume expansion or pricing opportunities
Low financial leverage: D/E of 0.03 provides flexibility to invest in capacity, efficiency, or strategic moves if opportunities arise
Edible oil consumption in India: sector is tied to agricultural staple demand and rural consumption; verify company's market share trends and competitive position

Generated analysis · source review pending

1,823 historical price candles were omitted because the exchange source has not been verified.

₹623.3-4%1Y

Quick read

rule-based

Pros

+Almost debt-free (debt/equity 0)
+High promoter holding of 69.6% with no pledge

Cons

−Low return on equity of 8.8% (3-yr avg)
−Thin operating margin of 0.2%
−Profit declined 64.7% a year over the last 3 years
−Revenue shrank over the last 3 years (-4% a year)
−Expensive at 67.8× trailing earnings

Research score

Structured signal from quality, growth, valuation and momentum.

17/100

Business quality: 25
Growth: 0
Valuation: 26

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	2,070	2,716	2,430	1,829
COGS	1,893	2,541	2,273	1,690
Gross profit	177	175	157	139
	98	103	136	134
Operating profit (EBITDA)	78	72	21	4
OPM %	3.8%	2.6%	0.9%	0.2%
Depreciation	2	2	2	3
Interest	-4	4	4	1
	6	8	6	3
Profit before tax	89	76	22	4
Tax	22	19	5	1
Tax %	25%	24.7%	23.7%	27.5%
	67	57	17	3
PAT margin %	3.2%	2.1%	0.7%	0.2%
EPS (₹)	208.6	179.3	53.1	9.2
EPS adjusted (₹)	208.7	179.4	53.2	9.2
Annual report	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Equity capital	3	3	3	3	3
Reserves	—	238	323	316	319
Minority interest	—	0	—	—	—
	—	115	147	37	9
	69	54	44	48	43
Total equity & liabilities	72	411	516	405	375
	20	22	24	22	35
CWIP	—	10	10	15	10
Investments	—	83	117	103	103
	52	296	366	264	227
Total assets	72	411	516	405	375

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	-22	41	71	31
	-58	74	-54	1
	29	28	-113	-32
Net cash flow	-51	143	-97	-0
Free cash flow	-25	37	63	21
CFO / Operating profit %	-28%	56.8%	339%	710.9%

Compounded sales growth

7 years: —
5 years: —
3 years: -4%
1 year: -25%

Compounded profit growth

7 years: —
5 years: —
3 years: -65%
1 year: -83%

Return on equity

7 years: —
5 years: —
3 years: 8%
Last year: 1%

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Margins
Gross margin %	8.5%	6.4%	6.5%	7.6%
EBITDA margin %	3.8%	2.6%	0.9%	0.2%
EBIT margin %	3.7%	2.6%	0.8%	0.1%
PAT margin %	3.2%	2.1%	0.7%	0.2%
Working capital
Receivable days	7	6	6	4
Inventory days	19	19	12	15
Payable days	7	4	5	5
NWC days	19	21	14	14
Leverage
Current ratio	1.79	1.97	2.73	5.19
Debt to EBITDA	1.47	2.05	1.79	2.11
Debt to equity	0.48	0.45	0.12	0.03
Interest coverage	-18.3	17.8	5.8	4.4
Asset turnover	5.04	5.26	6	4.88
Return ratios
Return on assets %	16.3%	11.1%	4.2%	0.8%
Return on capital employed %	33%	26.5%	7.4%	1.4%
Return on equity %	27.7%	17.6%	5.3%	0.9%

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.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

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
	67.65%	68.19%	68.23%	68.72%	68.72%	68.72%	68.96%	68.96%	68.96%	68.96%	68.96%	69.59%
FII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
DII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	32.35%	31.81%	31.77%	31.28%	31.28%	31.28%	31.04%	31.04%	31.04%	31.04%	31.04%	30.41%
No. of shareholders	—	—	—	—	—	—	—	—	4,123	4,092	4,137	4,025

Promoter holding up 1.94 percentage points since Sep 2023.

Shankar KukrejaChief Financial Officer
Mr. Vijay DataExecutive Director-MD
Mr. Daya Kishan DataExecutive Director
Mr. Saurabh DataNon-Executive - Non Independent Director
Mr. Ram Prakash MahawarNon-Executive - Non Independent Director
Mrs. Pallavi SharmaNon-Executive - Independent Director
Mr. Sachin GuptaNon-Executive - Independent Director
Mr. Manish JainNon-Executive - Independent Director
Mr. Vineet JainNon-Executive - Independent Director
J P LodhaCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Vijay Solvex Ltd. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

1

Board meeting to consider results14 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

13 announcementsExport CSV

14 Aug 2026, 2:08 pmAGM/EGM

Intimation Of Ensuing Annual General Meeting Scheduled To Be Held On September 28, 2026

AGM PDF

14 Aug 2026, 2:03 pmResult

Unaudited Standalone And Consolidated Financial Results For The Quarter Ended June 30, 2026

Financial Results PDF

14 Aug 2026, 1:52 pmBoard Meeting

Board Meeting Outcome for Outcome Of Board Meeting Held On 14.08.2026

Outcome of Board Meeting PDF

20 Jul 2026, 11:53 amCompany Update

Announcement under Regulation 30 (LODR)-Change in Management

Change in Management PDF

4 Jul 2026, 5:26 pmCompany Update

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 PDF

Date	Category	Subject	Filing
14 Aug 2026, 2:08 pm	AGM/EGM AGM	Intimation Of Ensuing Annual General Meeting Scheduled To Be Held On September 28, 2026	PDF
14 Aug 2026, 2:03 pm	Result Financial Results	Unaudited Standalone And Consolidated Financial Results For The Quarter Ended June 30, 2026

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Ratio	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Margins
Gross margin %	8.5%	6.4%	6.5%	7.6%
EBITDA margin %	3.8%	2.6%	0.9%	0.2%
EBIT margin %	3.7%	2.6%	0.8%	0.1%
PAT margin %	3.2%	2.1%	0.7%	0.2%
Working capital
Receivable days	7	6	6	4
Inventory days	19	19	12	15
Payable days	7	4	5	5
NWC days	19	21	14	14
Leverage
Current ratio	1.79	1.97	2.73	5.19
Debt to EBITDA	1.47	2.05	1.79	2.11
Debt to equity	0.48	0.45	0.12	0.03
Interest coverage	-18.3	17.8	5.8	4.4
Asset turnover	5.04	5.26	6	4.88
Return ratios
Return on assets %	16.3%	11.1%	4.2%	0.8%
Return on capital employed %	33%	26.5%	7.4%	1.4%
Return on equity %	27.7%	17.6%	5.3%	0.9%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Patanjali Foods LimitedPATANJALIPATANJALI	₹38,644 Cr	₹41,427 Cr	₹42,776 Cr	₹1,975 Cr	4.4%	₹1,970 Cr	4.5%	13.7%	14.8%	74
Awl Agri Business LimitedAWLAWL	₹22,801 Cr	₹23,619 Cr	₹77,720 Cr	₹2,458 Cr	2.9%	₹1,156 Cr	1.4%	18.2%	10.5%	40
Gokul Agro Resources LimitedGOKULAGROGOKULAGRO	₹6,200 Cr	₹6,771 Cr	₹24,435 Cr	₹747 Cr	2.8%	₹421 Cr	1.5%	40.8%	30.1%	4
CIAN Agro Industries & Infrastructure LtdCIANAGROCIANAGRO	₹2,844 Cr	₹4,043 Cr	₹2,234 Cr	₹476 Cr	21.3%	₹223 Cr	10%	13.4%	10.8%	116
Sundrop Brands LimitedSUNDROPSUNDROP	₹2,839 Cr	₹2,839 Cr	₹1,605 Cr	₹70 Cr	3.8%	₹29 Cr	1.3%	1.8%	1.4%	39
Shri Venkatesh Refineries LtdSVRLSVRL	₹1,501 Cr	—	₹1,378 Cr	₹73 Cr	5.3%	₹38 Cr	2.8%	—	—	—
Gokul Refoils And Solvent LimitedGOKULGOKUL	₹383 Cr	₹765 Cr	₹4,211 Cr	₹39 Cr	0.9%	₹21 Cr	0.5%	15.7%	5.2%	23
Kriti Nutrients LimitedKRITINUTKRITINUT	₹333 Cr	₹341 Cr	₹940 Cr	₹44 Cr	4.7%	₹33 Cr	3.7%	20.1%	15.4%	20
Halder Venture LimitedHALDERHALDER	₹289 Cr	₹649 Cr	₹646 Cr	₹28 Cr	4.3%	₹29 Cr	4.9%	34.5%	24.2%	229
Vijay Solvex LtdVIJSOLXVIJSOLX	₹199 Cr	₹209 Cr	₹1,829 Cr	₹4 Cr	0.2%	₹3 Cr	0.2%	1.4%	0.9%	14
Prime Industries LtdPRIMINDPRIMIND	₹195 Cr	₹234 Cr	₹0 Cr	₹0 Cr	-2.9%	₹1 Cr	16.2%	6.9%	3.3%	36
Ajanta Soya LtdAJANTSOYAJANTSOY	₹173 Cr	₹181 Cr	₹931 Cr	₹37 Cr	0.9%	₹25 Cr	0.6%	9.3%	5.1%	29

Vijay Solvex Ltd

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Ratios

Ratio timeline

Shareholding

Quarterly record

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Board meetings1

Announcements

Ratio timeline

Not in the F&O segment

No fund holdings on record

Board meetings1

Announcements

Annual reports

Quarterly record

Board and management

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

1

1