Vaswani IND Ltd

NSE: VASWANI · Sponge Iron · sector

₹41.35NSE close 2026-10-26

Key numbers

Market cap₹136 cr

Price₹41.35

52w high / low₹70 / ₹39

P/E–Sector median 36.4x

P/B0.9xSector median 3.7x

Book value₹45.6

Dividend yield–

ROE-0.0%Sector median 5.5%

ROCE7.9%Sector median 7.9%

OPM9.4%Sector median 9.4%

Debt / equity1.85xSector median 0.98x

EV/EBITDA8.9xSector median 8.9x

Interest cover1.6x

Current ratio1.37x

Sales growth 3y+6.0%Sector median -22.4%

Profit growth 3y-11.0%Sector median -6.6%

PEG–

Last 12 months to Jun 2026, Standalone. "Sector median" = middle value of 5 companies in Sponge Iron (P/E median leaves out loss-making companies). Tap ? for what a number means.

Things to know

Cash ₹16 cr vs borrowings ₹277 cr (FY26): borrowings are higher by ₹261 cr.
Operating profit covered interest 1.6x in the last 12 months.
No promoter shares are pledged.
Operating cash flow was below net profit in 1 of the last 5 years (FY22).
Net loss in 1 of the last 8 quarters.
Revenue was higher than a year earlier in 3 of the last 4 quarters.
No dividend in the last 5 financial years.
Price ₹41.35 on 2026-10-26: -40.9% from the 52-week high, +6.0% from the 52-week low.

Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.

Charts

Weekly close · high ₹68.31 · low ₹36.08

Quarterly results

₹ cr	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	102	102	115	114	85	124	144	118
EBITDA	6	6	6	10	6	3	21	14
OPM %	5.8%	5.5%	5.5%	8.5%	7.4%	2.8%	14.4%	11.9%
Other income	0	0	2	0	0	0	0	1
Net profit	2	2	2	5	1	-8	5	1
EPS (₹)	0.78	0.58	0.65	1.75	0.42	-2.48	1.67	0.35
Revenue YoY					-16.8%	+21.4%	+24.7%	+3.1%
Profit YoY					-42.5%	-549.7%	+170.9%	-78.8%

Standalone figures where filed. Latest quarter Jun 2026.

Profit & loss (yearly)

₹ cr	FY22	FY23	FY24	FY25	FY26	TTM
Revenue	374	392	389	412	467	471
EBITDA	19	21	22	23	40	44
Net profit	4	6	9	9	4	-0
EPS (₹)	1.47	2.00	3.01	2.81	1.31	-0.04
Revenue growth		+4.7%	-0.6%	+5.7%	+13.5%	+8.4%
Profit growth		+36.0%	+50.2%	-4.8%	-50.7%	-100.5%
Dividend / share (₹)	–	–	–	–	–

Compounded growth	3 years	5 years	Last 12 months
Sales	+6.1%	+8.3%	+8.5%
Net profit	-11.0%	+0.9%	-100.5%
EPS	-13.2%	-0.6%	–
Share price	–	-11.0% (2y)	-30.1%

Balance sheet

₹ cr	FY22	FY23	FY24	FY25	FY26
Shareholders' equity	–	113	122	137	150
Borrowings	–	36	33	156	277
Cash & equivalents	–	12	23	45	16
Total assets	–	201	189	362	508
Fixed assets	–	51	52	112	335
Capital work in progress	–	0	4	67	9
Investments	–	7	7	2	3
Receivables	–	49	18	8	15
Inventory	–	49	46	66	82
Payables	–	35	19	42	48

Year-end figures from the March annual filing.

Cash flow

₹ cr	FY22	FY23	FY24	FY25	FY26
Cash from operations	-0	30	31	34	18
Cash from investing	-2	-1	-9	-134	-158
Cash from financing	2	-26	-11	122	111
Capex	0	1	4	65	174
Free cash flow	-0	29	26	-31	-156

Free cash flow = cash from operations − capex.

Ratios by year

₹ cr	FY22	FY23	FY24	FY25	FY26
ROE %	–	5.3%	7.4%	6.3%	2.8%
ROCE %	–	13.0%	13.0%	7.2%	7.4%
Debtor days	–	46	17	7	12
Inventory days	–	57	54	73	88
Payable days	–	41	23	47	51
Cash conversion cycle (days)	–	62	48	33	49
Working capital days	–	53	65	49	32

Shareholding

Holder	% (2026-09-30)
Promoters	62.06%
Public (non-institutions)	37.94%

Quarter	Mar 2025	Jun 2025	Aug 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Promoters %	60.12%	60.12%	62.06%	62.06%	62.06%	62.06%	62.06%	62.06%

Promoter group	%
Ravi Vaswani	26.94%
Sudha Vaswani	12.49%
Yashwant Ravi Vaswani	10.05%
Manisha Vaswani	7.05%
Kushal Vaswani	5.35%
Ravi Kumar Vaswani	0.18%
Satish Kumar Vaswani	0.00%

Public holders above 1%	%
Amrit Sales Promotion PVT Limited	3.37%
Gopal Sponge & Power	1.31%
Priyansh Chitlangia	1.04%

13,741 shareholders. Pledged: 0.00% of promoter shares.

Peers in Sponge Iron

Company	Market cap	P/E	P/B	ROE	ROCE	OPM	Sales 3y	Div yield
KIOCL	₹19,679 cr	498.1x	11.3x	2.3%	2.8%	-0.8%	-26.5%	–
SALSTEEL	₹940 cr	61.4x	6.4x	13.4%	7.8%	29.7%	-25.7%	–
VRAJ	₹409 cr	11.4x	0.9x	8.7%	9.9%	9.8%	–	–
VASWANI	₹136 cr	–	0.9x	-0.0%	7.9%	9.4%	+6.0%	–
BIHSPONG	₹116 cr	9.9x	–	–	15.0%	-7.3%	-19.1%	–

All 5 companies in Sponge Iron →

Business segments (FY26)

Segment	Revenue	Share	EBIT	Margin
Iran & Steel (Including other Income)	₹428 cr	91.4%	₹8 cr	1.9%
Power (Including Other Income)	₹40 cr	8.6%	₹23 cr	58.2%
Real Estate	₹0 cr	–	₹0 cr	–
Agri Products	₹0 cr	–	₹0 cr	–

Dividends & corporate actions

Ex-date	Action	Detail
2024-09-13	Other	Annual General Meeting
2021-09-20	Other	Annual General Meeting
2020-09-22	Other	Annual General Meeting
2019-09-20	Other	Annual General Meeting
2018-10-19	Other	Annual General Meeting
2017-09-20	Other	Annual General Meeting
2017-04-27	Other	Extraordinary General Meeting
2016-09-15	Other	Annual General Meeting
2015-09-03	Other	Annual General Meeting
2014-09-03	Other	Annual General Meeting
2013-08-14	Other	Annual General Meeting
2012-11-19	Other	Annual General Meeting
2011-09-29	Bonus	Bonus 1:4

Documents

Links go to the original files on the exchange website.

About the company


Sector	Commodities
Industry	Sponge Iron
Sub-industry	Sponge Iron
Symbol	VASWANI
BSE code	533576
ISIN	INE590L01019
Face value	₹10.0
Incorporated	–
Website	–
Plants (India / abroad)	–

Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.