Vesuvius India Limited
NSE: VESUVIUSElectrodes & Refractories
Share price
₹409.00
+0.58% close of 9 Oct 2026
Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 8 Oct 2026, the close above is 9 Oct 2026.
Business score
How strong the business is, in one number. The parts behind it are in Pro.
69
out of 100 · worked out 9 Oct 2026
Your ratios
The numbers you want to see first. Tap Edit to change them.
Market cap
₹8,180 Cr
P/E ratio
31.8
P/B ratio
4.7
ROCE
21.3%
ROE
15.5%
Dividend yield
0.4%
Price & valuation chart
How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.
Answers
Simple answers to the questions investors ask most, from the company's own numbers.
How fast it has been growing
Sales grew 8.9% over the past year, and 10.3% a year over its longer record. Meanwhile what it keeps of every 100 rupees of sales improved from 10.3% to 16.7% over the last four years.
Whether it grew faster than its sector
It grew 10.3% a year against a sector median of 10.6% — 0.4 percentage points slower.
Room to re-rate, or risk of de-rating
At 31.8× earnings against a market that pays 24.1× across 2199 companies we can price. Its own industry sits at 41.2×, across 5 companies. It is against its own five-year median of 35.8×, the 26th percentile of its own range.
Whether growth justifies the valuation
Priced at 1.2 times its growth rate, on earnings growth of 26%.
| Profit growth | Price per ₹1 profit | Per 1% growth | |
|---|---|---|---|
| Vesuvius India Limited — this one | 26%/yr | 31.8× | ₹1.2 |
| Graphite India Limited | -8%/yr | 71.8× | — |
| Raghav Productivity Enhancers Limited | 28%/yr | 126.6× | ₹4.5 |
| RHI MAGNESITA INDIA LIMITED | -27%/yr | 41.2× | — |
| HEG Advanced Materials Limited | -14%/yr | 12.9× | — |
| IFGL Refractories Limited | -23%/yr | 29.5× | — |
Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
How it compares with its peers
Against companies the exchange files under the same label (Electrodes & Refractories), it ranks 2 of 9 on returns, 4 of 9 on growth, 2 of 9 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
What makes it hard to beat — and is that still true?
A wide advantage: it earns 21.3% on capital, ahead of 78% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
Whether its growth pays for itself
Roughly — Over the last five years it made ₹672 crore of cash from the business and spent about as much on plant and equipment. And the profit is real: of every 100 rupees it reported over 12 years, about 88 arrived as cash. Its cash comes back more slowly than it used to: it went from being waiting 55 days for its cash to waiting 69 days for its cash.
Profit reality check
Is the profit real cash? Simple checks on the accounts. Facts only, not advice.
9 of 10 checks clear · 90%
Latest result · Q1 FY27
What the last results showed. Whether management kept its word is in Pro.
Announced 12 Aug 2026 · Standalone · Unaudited
Revenue
₹536 Cr
Revenue vs last year
+2.3%
Revenue vs last quarter
+7.2%
Net profit
₹59 Cr
Profit vs last year
-7.1%
Profit vs last quarter
+4.5%
Net margin
10.9%
EPS
₹2.88
Checklist before you investPRO
Points for and against, in one list.
Key numbers & peers
The main numbers grouped by topic, and how the company compares with similar ones.
Price
- Market cap
- ₹8,180 Cr
- Prev close
- ₹409.00
- 52w High
- ₹608
- 52w Low
- ₹383
- Enterprise value
- ₹7,612 Cr
- Beta
- 1.0
- Price CAGR 1y
- -20.0%
- Price CAGR 3y
- 11.0%
- Price CAGR 5y
- 28.0%
- Price CAGR 10y
- 14.0%
Ratios
- Return on assets
- 11.9%
- PEG ratio
- 1.2
- P/E ratio
- 31.8
- P/B ratio
- 4.7
- EV / EBITDA
- 21.3
- Industry P/E
- 31.6
- ROCE
- 21.3%
- ROCE 5y average
- 20.0%
- ROE
- 15.5%
- Debt / Equity
- 0.0
- Interest coverage
- 179.0
- Dividend yield
- 0.4%
- ROE 3y average
- 17.0%
- ROE last year
- 15.0%
Annual P&L
- Annual revenue
- ₹2,104 Cr
- Annual profit
- ₹264 Cr
- Operating margin
- 17.0%
- Net profit margin
- 12.5%
- EBITDA margin
- 17.2%
- Sales growth 3y
- 16.1%
- Sales growth 5y
- 21.6%
- Profit growth 3y
- 26.0%
- Profit growth 5y
- 34.0%
- EPS
- ₹13.0
- Sales growth TTM
- 9.0%
- Profit growth TTM
- 2.0%
- Dividend payout
- 12.0%
Quarter P&L
- Sales latest quarter
- ₹536 Cr
- Profit latest quarter
- ₹59 Cr
- YoY quarterly sales growth
- 2.3%
- YoY quarterly profit growth
- -6.3%
- OPM latest quarter
- 16.2%
Balance Sheet
- Book Value
- ₹87.4
- Face Value
- ₹1.0
- Total debt
- ₹14 Cr
- Total cash
- ₹576 Cr
- Borrowings
- ₹14 Cr
- Reserves / Equity
- 86.4
Cash Flow
- Operating cash flow
- ₹177 Cr
- Free cash flow
- ₹102 Cr
- FCF yield
- 1.2%
- Net cash flow
- ₹130 Cr
Shareholding
- Promoter holding
- 55.6%
- FII holding
- 4.6%
- DII holding
- 22.0%
- Public holding
- 17.8%
Peer comparison
| Company | Price ₹ | P/E | Mkt cap ₹ Cr | Div yield % | Profit qtr ₹ Cr | Profit var % | Sales qtr ₹ Cr | Sales var % | ROCE % |
|---|---|---|---|---|---|---|---|---|---|
| Graphite India | 802.10 | 71.5 | 15,671 | 0.85 | 171.0 | 28.4 | 842.0 | 26.6 | 4.6 |
| Vesuvius India | 406.00 | 32.2 | 8,240 | 0.36 | 58.5 | -7.1 | 536.2 | 2.3 | 21.3 |
| Raghav Product. | 1,727.85 | 126.6 | 7,935 | 0.05 | 19.6 | 67.5 | 86.9 | 48.7 | 30.3 |
| RHI Magnesita | 367.50 | 40.5 | 7,589 | 0.69 | 64.6 | 83.2 | 1,014.0 | 5.6 | 6.5 |
| HEG Advanced Materials | 237.00 | 13.0 | 4,574 | 1.46 | 122.3 | 22.6 | 680.8 | 11.1 | 8.3 |
| Monolithisch Ind | 1,267.05 | 95.7 | 2,754 | 0.00 | 10.1 | 134.7 | 47.2 | 63.9 | 34.8 |
| IFGL Refractori. | 179.00 | 30.1 | 1,290 | 1.20 | 17.1 | 57.8 | 512.4 | 12.8 | 4.9 |
| Median | 399.00 | 30.6 | 2,022 | 0.68 | 13.7 | 62.7 | 93.8 | 12.0 | 13.6 |
Competes with: De Nora India Limited, Graphite India Limited, HEG Advanced Materials Limited, HEG Limited, IFGL Refractories Limited, ORIENT CERATECH LIMITED, RHI MAGNESITA INDIA LIMITED, Raghav Productivity Enhancers Limited
Quarterly results
Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.
| Line item | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 405 | 413 | 417 | 453 | 462 | 444 | 509 | 482 | 524 | 547 | 551 | 500 | 536 |
| Expenses | 335 | 331 | 337 | 358 | 371 | 365 | 427 | 399 | 433 | 455 | 457 | 416 | 450 |
| Material Cost | 200 | 202 | 207 | 211 | 210 | 261 | |||||||
| Change in Inventories | -22 | -17 | -3.57 | 12 | -11 | -39 | |||||||
| Purchases of Stock-in-Trade | 91 | 108 | 100 | 88 | 71 | 79 | |||||||
| Employee Cost | 32 | 34 | 36 | 40 | 36 | 36 | |||||||
| Other Expenses | 98 | 106 | 115 | 106 | 110 | 113 | |||||||
| Operating Profit | 70 | 82 | 80 | 95 | 92 | 79 | 82 | 83 | 91 | 92 | 94 | 84 | 87 |
| OPM % | 17 | 20 | 19 | 21 | 20 | 18 | 16 | 17 | 17 | 17 | 17 | 17 | 16 |
| Other Income | 8 | 8 | 7 | 8 | 10 | 23 | 7 | 10 | 8 | 7 | 34 | 9 | 10 |
| Exceptional items (within Other Income) | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 8 | 9 | 11 | 10 | 11 | 12 | 13 | 13 | 15 | 17 | 17 | 17 | 18 |
| Profit before tax | 70 | 81 | 76 | 92 | 90 | 90 | 76 | 80 | 85 | 83 | 109 | 75 | 79 |
| Tax % | 25 | 25 | 25 | 25 | 26 | 24 | 22 | 26 | 26 | 26 | 27 | 26 | 26 |
| Net Profit | 52 | 60 | 57 | 69 | 67 | 68 | 60 | 59 | 63 | 62 | 80 | 56 | 59 |
| EPS in Rs | 2.57 | 2.97 | 2.81 | 3.39 | 3.32 | 3.37 | 2.95 | 2.92 | 3.10 | 3.03 | 3.95 | 2.75 | 2.88 |
| Diluted EPS in Rs | 29 | 3.11 | 3.03 | 3.95 | 2.75 | 2.88 |
Profit & loss
Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.
| Line item | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 652 | 700 | 822 | 911 | 925 | 887 | 792 | 1,047 | 1,343 | 1,603 | 1,869 | 2,104 | 2,134 |
| Expenses | 552 | 574 | 670 | 745 | 777 | 766 | 714 | 947 | 1,178 | 1,314 | 1,518 | 1,743 | 1,778 |
| Material Cost | 820 | ||||||||||||
| Change in Inventories | -31 | ||||||||||||
| Purchases of Stock-in-Trade | 387 | ||||||||||||
| Employee Cost | 142 | ||||||||||||
| Other Expenses | 426 | ||||||||||||
| Operating Profit | 101 | 126 | 152 | 167 | 148 | 121 | 77 | 100 | 165 | 289 | 350 | 361 | 356 |
| OPM % | 15 | 18 | 18 | 18 | 16 | 14 | 10 | 10 | 12 | 18 | 19 | 17 | 17 |
| Other Income | 9 | 10 | 13 | 9 | 23 | 29 | 21 | 20 | 23 | 35 | 48 | 59 | 60 |
| Exceptional items (within Other Income) | 0 | ||||||||||||
| Interest | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 4 | 2 | 1 |
| Depreciation | 19 | 23 | 27 | 30 | 28 | 27 | 26 | 27 | 30 | 36 | 46 | 62 | 69 |
| Profit before tax | 90 | 112 | 136 | 145 | 142 | 123 | 72 | 92 | 157 | 285 | 349 | 356 | 346 |
| Tax % | 34 | 35 | 35 | 35 | 35 | 31 | 26 | 26 | 26 | 25 | 24 | 26 | |
| Net Profit | 59 | 74 | 89 | 94 | 93 | 86 | 53 | 68 | 117 | 213 | 265 | 264 | 256 |
| EPS in Rs | 2.91 | 3.63 | 4.38 | 4.65 | 4.56 | 4.21 | 2.61 | 3.35 | 5.75 | 10 | 13 | 13 | 13 |
| Diluted EPS in Rs | 13 | ||||||||||||
| Dividend Payout % | 24 | 17 | 15 | 15 | 15 | 21 | 27 | 24 | 14 | 12 | 11 | 12 |
Compounded growth
Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.
Compounded sales growth
- 10 years
- 12%
- 5 years
- 22%
- 3 years
- 16%
- TTM
- 9%
Compounded profit growth
- 10 years
- 12%
- 5 years
- 34%
- 3 years
- 26%
- TTM
- 2%
Stock price CAGR
- 10 years
- 14%
- 5 years
- 28%
- 3 years
- 11%
- 1 year
- -20%
Return on equity
- 10 years
- 14%
- 5 years
- 15%
- 3 years
- 17%
- Last year
- 15%
Balance sheet
What the company owns and what it owes, at the end of each year. ₹ crore.
| Line item | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 |
| Reserves | 419 | 477 | 562 | 641 | 717 | 784 | 822 | 876 | 977 | 1,173 | 1,411 | 1,644 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 13 | 13 | 14 |
| Other Liabilities | 139 | 147 | 161 | 193 | 188 | 177 | 216 | 292 | 333 | 382 | 402 | 472 |
| Total Liabilities | 578 | 644 | 743 | 854 | 925 | 981 | 1,058 | 1,188 | 1,331 | 1,589 | 1,847 | 2,150 |
| Fixed Assets | 132 | 131 | 124 | 113 | 121 | 124 | 120 | 116 | 194 | 316 | 434 | 622 |
| CWIP | 20 | 14 | 16 | 38 | 26 | 28 | 21 | 27 | 38 | 86 | 196 | 52 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 426 | 499 | 603 | 703 | 779 | 829 | 917 | 1,045 | 1,098 | 1,187 | 1,217 | 1,476 |
| Total Assets | 578 | 644 | 743 | 854 | 925 | 981 | 1,058 | 1,188 | 1,331 | 1,589 | 1,847 | 2,150 |
Cash flows
Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.
| Line item | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 65 | 54 | 50 | 191 | 95 | 74 | 102 | 27 | 128 | 82 | 258 | 177 |
| Cash from Investing Activity | -28 | -21 | 21 | 2 | -310 | 297 | -503 | -39 | -6 | -37 | -233 | -18 |
| Cash from Financing Activity | -14 | -15 | -15 | -16 | -17 | -17 | -14 | -14 | -16 | -18 | -27 | -30 |
| Net Cash Flow | 23 | 18 | 56 | 177 | -231 | 354 | -415 | -26 | 106 | 28 | -1 | 130 |
| Free Cash Flow | 43 | 23 | 29 | 151 | 70 | 43 | 87 | -5 | 16 | -117 | 16 | 101 |
Ratios
How fast customers pay, how long stock sits, and how well capital earns — year by year.
| Line item | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 105 | 118 | 119 | 88 | 72 | 77 | 75 | 57 | 57 | 74 | 75 | 84 |
| Inventory Days | 69 | 68 | 77 | 69 | 84 | 77 | 91 | 124 | 92 | 105 | 87 | 92 |
| Days Payable | 87 | 97 | 98 | 111 | 98 | 89 | 122 | 130 | 112 | 118 | 104 | 114 |
| Cash Conversion Cycle | 87 | 90 | 98 | 46 | 58 | 65 | 44 | 52 | 38 | 60 | 58 | 62 |
| Working Capital Days | 82 | 91 | 102 | 59 | 58 | 63 | 51 | 55 | 41 | 65 | 62 | 69 |
| ROCE % | 22 | 24 | 25 | 24 | 20 | 16 | 9 | 11 | 17 | 26 | 25 | 21 |
Price trend
The price as a Renko brick chart: small moves drop out so the bigger path stands out.
Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.
Open interestPRO
Where option traders are positioned on this stock.
Industry numbers
The numbers that matter most in this industry, from the company's own filings.
1 when an audit qualification is filed as repetitive
0.00flag
2025-12-31
the company's own unlisted debt securities in default at period end
0.00cr
2026-06-30
the company's own loans / revolving facilities in default at period end (standalone filing)
0.00cr
2026-06-30
net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash
-568inr_cr
2025-12-31
guarantees / comfort given for promoter, promoter group, directors and KMP
0.00cr
2026-06-30
loans outstanding to promoter, promoter group, directors and KMP (governance filing)
0.00cr
2026-06-30
security given for the borrowing of promoter, promoter group, directors and KMP
0.00cr
2026-06-30
FY revenue / permanent employees + workers, same basis (calc)
3,22,69,939inr
2025-12-31
News
News and filings about Vesuvius India Limited. Open one to see why it matters.
No recent news for this company.
Supply chain
Who it buys from, sells to and competes with — as recorded in our map of company links.
Competes with
Uses as raw material
- alumina
- bauxite
- graphite / carbon
- magnesia (magnesia-carbon)
- mould flux / casting powder raw materials (local)
- mullite-based raw materials / formulations
- refractory cement (calcium-aluminate / high-alumina cement)
- silicon carbide fines
- zircon / zirconia
Sells to
- ArcelorMittal Nippon Steel India · technology-driven refractory products for steelmaking (iron-ore pelletisation / caster ref…
- JSW Steel · refractory products, flow-control and continuous-casting consumables for steelmaking
- Jayaswal Neco Industries Limited · refractory support / services for SMS furnace operations
- Jindal Stainless Limited · tundish and continuous-casting refractory / flow-control solutions for stainless steel (JS…
- Steel Authority of India · technology-driven refractory products and flow-control systems for steelmaking (Bhilai sla…
- Tata Steel · refractory products, flow-control products and tundish casting support for steelmaking (LD…
About
What the company is, from our own records: where it sits, where it makes things, and what it is made of.
- Sector
- Capital Goods
- Industry
- Electrodes & Refractories
- Classification
- Capital Goods › Electrodes & Refractories
- ISIN
- INE386A01023
Plants
- Kolkata Factory · Kolkata, West Bengal
- Mehsana Factory · Mehsana, Gujarat
- Visakha Industrial Complex - Alumino-Silicate & Basic Monolithics
- Visakhapatnam Factory (Autonagar)
- Visakhapatnam Factory (Parawada / Anakapalli)
News impact
Big market events that reach Vesuvius India Limited, and how the effect spreads.
1 Oct, 18:02 IST · Market event · medium impact
HEG Advanced Materials secures ₹127.35-crore lithium-ion battery bank order
HEG Advanced Materials won a Rs 127.35 crore lithium-ion battery order for Indus Towers' sites, helping HEG's sales with no clear loser among listed rivals.
Who it hits first
- HEG Advanced Materials, which makes graphite products and battery packs, won a Rs 127.35 crore order to supply lithium-ion battery banks (large backup batteries) to Replus Engitech, a unit of mobile-tower operator Indus Towers, with deliveries through May 2027.
- The order adds new sales to HEG's battery business and shows its tower-backup product is selling.
- Indus Towers and Replus Engitech have no fundamentals row in this pack, so no stock signal is given for the buyer side.
Who may gain
- HEG Advanced Materials, the battery-pack supplier, which books Rs 127.35 crore of tower-backup sales through May 2027
- Replus Engitech and Indus Towers, the tower operator, which secures backup power for its sites (buyer, not a stock pick here)
Along the supply chain
Downstream
Downstream, Replus Engitech and its parent Indus Towers, the mobile-tower operator, receive battery banks for tower backup through May 2027, while HEG's steel customers that buy graphite electrodes — Jindal Stainless, Tata Steel, Steel Authority of India and Jindal Steel — buy a different product and see no flow from this battery win.
Upstream
No direct upstream pull — XTRANET, the listed information-technology supplier to HEG, does not make battery cells or parts, so the Rs 127.35 crore battery order does not flow to it, and no battery-part supplier is shown in this pack.
Where demand moves
Business
Business demand flows one way: Indus Towers needs backup power for its mobile towers, so its unit Replus Engitech buys Rs 127.35 crore of battery banks from HEG Advanced Materials, lifting HEG's factory use through May 2027, while graphite-electrode and furnace-lining peers see none of this battery demand.
Capital
Capital follows the seller: investors are likely to bid up HEGAM shares modestly on the confirmed order, while peer names Graphite India, RHI Magnesita, RPEL and Vesuvius India see no new money from this win and trade on their own results.
How it spreads across sectors
Capital Goods
Small positive read for battery and power-gear makers as a Rs 127.35 crore tower-backup order confirms demand, but graphite-electrode and refractory makers that compete with HEG see no spillover.
Power
Neutral for power producers — a telecom tower-backup battery order does not change electricity demand or plant sales.
When it plays out
Immediate
In 1–7 days HEGAM shares react modestly to the Rs 127.35 crore order news while peers stay flat.
Medium term
In 1–6 months HEG books battery revenue and may chase repeat tower orders, while peers move only on their own electrode and refractory demand.
Short term
In 1–4 weeks focus shifts to delivery start and payment terms with Replus Engitech through May 2027.
Dividends, splits & big trades
Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.
Dividends
| 30 Apr 2026 | unspecified | ₹1.5 |
|---|---|---|
| 10 Jun 2025 | split | ₹0 |
| 30 Apr 2025 | unspecified | ₹14.5 |
| 10 Apr 2024 | unspecified | ₹12.75 |
| 26 Apr 2023 | interim | ₹8.25 |
| 28 Apr 2022 | unspecified | ₹8 |
| 19 Apr 2021 | unspecified | ₹7 |
| 17 Sep 2020 | unspecified | ₹7 |
Splits, bonuses & buybacks
- daily-prices repair: 8 rows from NSE's archive (replace 1, delete 0, insert 7), 2016-10-30..2026-02-01 (docs/flat_day_repair.md)1× · 30 Oct 2016
Documents
Annual reports, results presentations and earnings calls, straight from the source.
- Annual report · 2025-2513 Apr 2026
Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.