Vishnu Prakash R Punglia Limited (VPRPL)

About

Vishnu Prakash R Punglia Limited is a civil construction company in the Industrials sector with ₹435.1 Cr market capitalization. The company achieved ₹405.06 Cr revenue and 14.53% operating margins in late 2024, but deteriorated sharply to a ₹130.79 Cr net loss in Mar 2026 with -24.67% operating margins by Jun 2026. This operational collapse has erased 77% of stock value over the past year, reflecting acute project execution failure and solvency concerns.

Face value: ₹10

Market cap

₹354 Cr

P/E

—

P/B

0.6×

Dividend yield

0%

ROE

-21.3%

ROCE

-12%

Debt / equity

1.03

OPM

-9.6%

EPS (TTM)

₹-15.8

Book value

₹50.5

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Profitability cliff: Operating margin fell from 14.53% (Sep 2024) to -24.67% (Jun 2026); net losses in three of last four quarters with ₹130.79 Cr loss in Mar 2026, indicating severe project execution breakdown
Revenue contraction: 66% decline from ₹405.06 Cr (Mar 2025) to ₹137.88 Cr (Jun 2026)—verify whether driven by project delays, cancellations, or client losses
Leverage amid deterioration: D/E 1.03 combined with negative ROE -21.3% and quarterly losses of ₹130.79 Cr create solvency questions; verify debt maturity, covenant compliance, and cash position
Shareholder confidence erosion: Promoter stake fell from 44.61% (Mar 2026) to 38.03% (Jun 2026) within one quarter; verify if forced selling, capital calls, or restructuring is underway

Generated analysis · source review pending

Growth drivers

Margin recovery to historical levels: Operating margins of 14.53% (Sep 2024) and 11.28% (Mar 2025) demonstrate the business model works; current -24.67% reversal required for profitability, contingent on resolution of underlying project issues
Revenue recovery from trough: Mar 2025 peak of ₹405.06 Cr versus Jun 2026 of ₹137.88 Cr shows 66% contraction; construction companies recover through project execution and new contract wins—verify active pipeline, contract closure dates, and recent awards
Working capital release from contract completion: Construction revenue is project-cycle lumpy; completing current loss-making contracts would free cash for deployment to new projects and margin recovery

Generated analysis · source review pending

754 historical price candles were omitted because the exchange source has not been verified.

₹28.4-2.1%1Y

Quick read

rule-based

Pros

No positive flags triggered.

Cons

−Low return on equity of 5.5% (3-yr avg)
−Revenue shrank over the last 3 years (-10% a year)
−Weak interest coverage of -1.3×
−Promoter holding fell 29.8 pts over the last year

Research score

Structured signal from quality, growth, valuation and momentum.

37/100

Business quality: 10
Growth: 0
Valuation: 100

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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Larsen & ToubroLTLT	₹5,05,996 Cr	₹6,27,679 Cr	₹2,90,137 Cr	₹28,950 Cr	10.2%	₹16,590 Cr	6.6%	15.4%	15.5%	-142
Rail Vikas Nigam LimitedRVNLRVNL	₹41,075 Cr	₹45,888 Cr	₹20,825 Cr	₹891 Cr	3.8%	₹900 Cr	4.3%	10.2%	9%	66
Kalpataru Projects International LimitedKPILKPIL	₹23,167 Cr	₹26,474 Cr	₹27,380 Cr	₹2,277 Cr	8.3%	₹1,136 Cr	3.8%	20.3%	14.6%	-94
Nbcc (India) LimitedNBCCNBCC	₹20,898 Cr	₹20,898 Cr	₹12,752 Cr	₹656 Cr	4.8%	₹743 Cr	5.8%	29.3%	26.2%	-7,663
Irb Infrastructure Developers LimitedIRBIRB	₹20,533 Cr	₹40,541 Cr	₹7,686 Cr	₹4,182 Cr	52.1%	₹954 Cr	11.1%	6.1%	4.2%	67
Cemindia Projects LimitedCEMPROCEMPRO	₹20,254 Cr	₹21,120 Cr	₹10,185 Cr	₹1,058 Cr	10.2%	₹602 Cr	5.9%	44.8%	28.2%	-110
Engineers India LimitedENGINERSINENGINERSIN	₹17,577 Cr	₹17,577 Cr	₹3,878 Cr	₹750 Cr	17.7%	₹784 Cr	17.6%	28.8%	23.8%	-22
Techno Electric & Engineering Company LimitedTECHNOETECHNOE	₹11,614 Cr	₹11,686 Cr	₹3,356 Cr	₹469 Cr	14.2%	₹431 Cr	14.6%	13.6%	12%	-33
Ircon International LimitedIRCONIRCON	₹10,369 Cr	₹16,033 Cr	₹9,241 Cr	₹771 Cr	8.4%	₹524 Cr	6.5%	7.8%	9.2%	-469
Rites LimitedRITESRITES	₹10,068 Cr	₹10,068 Cr	₹2,458 Cr	₹555 Cr	22.9%	₹417 Cr	18.8%	19.3%	15.4%	-2,276
Welspun Enterprises LimitedWELENTWELENT	₹10,026 Cr	₹11,998 Cr	₹3,544 Cr	₹716 Cr	20.7%	₹308 Cr	10.9%	17.3%	12.5%	-422
Kec International LimitedKECKEC	₹9,912 Cr	₹15,015 Cr	₹23,506 Cr	₹1,599 Cr	7.1%	₹554 Cr	2.6%	23.1%	10.5%	-132

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Financials

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

Annual Quarterly

Standalone figures · ₹ crore

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,168	1,474	1,237	851
COGS	488	525	309	348
Gross profit	680	949	928	503
	523	739	772	585
	157	210	155	-82
OPM %	13.4%	14.2%	12.6%	-9.6%
Depreciation	7	11	16	22
Interest	30	43	68	74
	3	9	9	0
Profit before tax	122	165	81	-177
Tax	32	42	22	-27
Tax %	26%	25.7%	27.2%	-15.3%
	91	122	59	-150
PAT margin %	7.8%	8.3%	4.7%	-17.6%
EPS (₹)	10.4	11	4.7	-12
EPS adjusted (₹)	9.7	9.8	4.7	-12
Annual report	—	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	93	125	125	125
Reserves	—	596	655	505
	—	396	707	650
	—	425	523	601
Total equity & liabilities	—	1,542	2,010	1,880
	125	166	222	240
CWIP	—	6	7	3
Investments	—	10	11	16
	—	1,360	1,770	1,622
Total assets	—	1,542	2,010	1,880

₹ Cr	Mar 2024	Mar 2025	Mar 2026
	-316	-207	142
	-32	-85	-15
	387	244	-132
Net cash flow	38	-48	-5
Free cash flow	-369	-283	117
CFO / Operating profit %	-150.7%	-133.1%	—

Compounded sales growth

7 years: —
5 years: —
3 years: -10%
1 year: -31%

Return on equity

7 years: —
5 years: —
3 years: 0%
Last year: -24%

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Ratios

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

Standalone figures

Ratio	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	58.2%	64.4%	75%	59.1%
EBITDA margin %	13.4%	14.2%	12.6%	-9.6%
EBIT margin %	12.8%	13.5%	11.3%	-12.2%
PAT margin %	7.8%	8.3%	4.7%	-17.6%
Working capital
Receivable days	—	166	217	247
Inventory days	—	320	941	820
Payable days	—	236	521	537
NWC days	—	250	637	530
Leverage
Current ratio	—	1.7	1.51	1.34
Debt to EBITDA	—	1.88	4.55	—
Debt to equity	—	0.55	0.91	1.03
Interest coverage	5	4.8	2.2	-1.3
Asset turnover	—	0.96	0.62	0.45
Return ratios
Return on assets %	—	7.9%	2.9%	-8%
Return on capital employed %	—	27.6%	18.4%	-12%
Return on equity %	—	16.9%	7.5%	-23.8%

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
	67.81%	67.81%	67.81%	67.81%	67.81%	67.81%	67.81%	67.81%	58.66%	52.64%	44.61%	38.03%
	4.66%	3.06%	1.11%	1.08%	0.1%	0.89%	0.17%	0.11%	1.34%	0.11%	0.27%	0.01%
	4.94%	4.97%	4.17%	4.1%	4.11%	4.14%	4.09%	4.09%	4.09%	4.08%	4.08%	4.08%
	0%	0%	0%	0%	0%	0%	0%	0%	0.24%	0.24%	0.24%	0.24%
	22.59%	24.16%	26.91%	27.01%	27.98%	27.16%	27.93%	27.99%	35.67%	42.93%	50.8%	57.64%
No. of shareholders	—	—	—	—	—	—	—	—	1,26,584	1,25,676	1,23,655	1,21,778

Promoter holding down 29.78 percentage points since Sep 2023.

7 disclosures

Person	Deal	Shares	Value	Holding	Filed
Manohar Lal PungliaPromoters	PledgePledge Creation	2,50,000	₹2.22 cr	6.59% → 6.59%	18 Oct 20257(2)
Manohar Lal PungliaPromoters	PledgePledge Creation	7,94,011	₹8.27 cr

119 deals · 5 Sept 2023 – 10 Jun 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
10 Jun 2026	BIKEWIN TRADING PRIVATE LIMITED	Bulk	NSE	Sell	16,02,007	₹26.67	₹4.27 Cr
10 Jun 2026	SIDHPUR COMMODITIES PRIVATE LIMITED	Bulk	NSE	Sell	12,24,116	₹26.68	₹3.27 Cr
11 Mar 2026	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Buy	7,62,093	₹43.17	₹3.29 Cr
11 Mar 2026	AKE SECURITIES PRIVATE LIMITED	Bulk	NSE	Buy	7,44,399	₹42.50	₹3.16 Cr
11 Mar 2026	AKE SECURITIES PRIVATE LIMITED	Bulk	NSE	Sell	7,44,399	₹44.39	₹3.30 Cr
11 Mar 2026	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Sell	7,35,471	₹43.22	₹3.18 Cr
11 Mar 2026	QE SECURITIES LLP	Bulk	NSE	Buy	7,11,299	₹42.93	₹3.05 Cr
11 Mar 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Buy	7,04,598	₹42.95	₹3.03 Cr
11 Mar 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Sell	7,04,598	₹42.97	₹3.03 Cr
11 Mar 2026	QE SECURITIES LLP	Bulk	NSE	Sell	6,65,909	₹42.55	₹2.83 Cr

1–10 of 119

1 / 12

Mr. VISHNU PRAKASH PUNGLIAExecutive Director-Chairperson related to Promoter
Mr. MANOHAR LAL PUNGLIAExecutive Director-MD
Mr. KAMAL KISHOR PUNGALIAExecutive Director
Mr. SANJAY KUMAR PUNGLIAExecutive Director-CEO
Mr. AJAY PUNGALIAExecutive Director
Mrs. NILIMA BHANSALINon-Executive - Independent Director
Mr. KRISHAN MURARI LAL MATHURNon-Executive - Independent Director
Mr. UTTAM CHAND SINGHVINon-Executive - Independent Director
Mr. RATAN LAHOTINon-Executive - Independent Director
Mr. SURENDRA SHARMANon-Executive - Independent Director
Mr. ANURAG LOHIYANon-Executive - Independent Director

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F&O

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

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Fund holders

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

Portfolio month

Schemes holding

1

across 1 fund houses

Held by these funds

4.08%

of the company's equity

All mutual funds

4.08%

shareholding pattern, Jun 2026

Portfolios as of

July 2026

compared with June 2026

1 schemes

		Shares
Small Cap Fund	quant Mutual Fund	50.88 L	13.75	0.04%	4.083%	-0

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Documents

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

Announcements

30

Annual reports

2

Credit ratings

6

Investor Presentation and earnings call

2

Nov 2025Transcript AI Summary PPT REC
Aug 2025Transcript AI SummaryPPT

Documents link to external sources (exchange filings, company investor pages).

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Events

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

1

Board meeting to consider results13 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

36 announcementsExport CSV

30 Sept 2026, 3:46 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

28 Sept 2026, 5:27 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

19 Sept 2026, 4:52 pmCompany Update

Announcement under Regulation 30 (LODR)-Credit Rating

Credit Rating PDF

12 Sept 2026, 7:08 pmCompany Update

Announcement under Regulation 30 (LODR)-Credit Rating

Credit Rating PDF

9 Sept 2026, 1:25 pmOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

8 Sept 2026, 7:10 pmAGM/EGM

Notice Of 13Th Annual General Meeting

AGM PDF

8 Sept 2026, 7:05 pmCompany Update

Annual Report

General PDF

8 Sept 2026, 6:58 pmOthers

Business Responsibility and Sustainability Reporting (BRSR)

Business Responsibility and Sustainability Reporting (BRSR) PDF

Date	Category	Subject	Filing
30 Sept 2026, 3:46 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
28 Sept 2026, 5:27 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF

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Vishnu Prakash R Punglia Limited

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

Return on equity

Ratios

Ratio timeline

Shareholding

Quarterly record

Insider dealing

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

Board meetings1

Announcements

Board meetings1

Ratio timeline

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Quarterly record

Insider dealing

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Return on equity

1

1