Vraj Iron and Steel Ltd
NSE: VRAJ · Sponge Iron · sector
₹123.89NSE close 2026-10-26
Key numbers
Market cap₹409 cr
Price₹123.89
52w high / low₹153 / ₹93
P/E11.4xSector median 36.4x
P/B0.9xSector median 3.7x
Book value₹130.3
Dividend yield–
ROE8.7%Sector median 5.5%
ROCE9.9%Sector median 7.9%
OPM9.8%Sector median 9.4%
Debt / equity0.10xSector median 0.98x
EV/EBITDA7.0xSector median 8.9x
Interest cover16.2x
Current ratio7.15x
Sales growth 3y–Sector median -22.4%
Profit growth 3y–Sector median -6.6%
PEG–
Last 12 months to Jun 2026, Consolidated. "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 ₹6 cr vs borrowings ₹41 cr (FY26): borrowings are higher by ₹35 cr.
- Operating profit covered interest 16.2x in the last 12 months.
- Operating cash flow was below net profit in 3 of the last 3 years (FY26, FY25, FY24).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 23% of net profit in the last 12 months.
- Debtor days went from 10 (FY24) to 20 (FY26).
- No dividend in the last 3 financial years.
- Price ₹123.89 on 2026-10-26: -18.8% from the 52-week high, +33.2% 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 ₹267.42 · low ₹105.29
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 88 | 120 | 153 | 138 | 133 | 146 | 170 | 194 |
| EBITDA | 14 | 11 | 16 | 13 | 13 | 5 | 25 | 20 |
| OPM % | 15.5% | 9.3% | 10.7% | 9.6% | 10.1% | 3.5% | 14.6% | 10.3% |
| Other income | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 |
| Net profit | 10 | 8 | 10 | 8 | 8 | 1 | 16 | 12 |
| EPS (₹) | 3.57 | 2.72 | 3.24 | 2.30 | 2.35 | 0.33 | 4.72 | 3.49 |
| Revenue YoY | +51.9% | +22.1% | +11.2% | +40.1% | ||||
| Profit YoY | -24.7% | -86.7% | +55.5% | +51.6% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|
| Revenue | 420 | 475 | 588 | 643 |
| EBITDA | 76 | 62 | 57 | 63 |
| Net profit | 57 | 44 | 32 | 36 |
| EPS (₹) | 23.22 | 14.28 | 9.70 | 10.89 |
| Revenue growth | +13.1% | +23.8% | +29.0% | |
| Profit growth | -23.2% | -27.4% | -0.6% | |
| Dividend / share (₹) | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | – | – | +29.0% |
| Net profit | – | – | -0.6% |
| EPS | – | – | – |
| Share price | – | -26.4% (2y) | -16.3% |
Balance sheet
| ₹ cr | FY24 | FY25 | FY26 |
|---|---|---|---|
| Shareholders' equity | 200 | 397 | 430 |
| Borrowings | 62 | 1 | 41 |
| Cash & equivalents | 40 | 40 | 6 |
| Total assets | 281 | 417 | 496 |
| Fixed assets | 48 | 195 | 270 |
| Capital work in progress | 64 | 3 | 7 |
| Investments | 1 | 2 | 3 |
| Receivables | 12 | 21 | 33 |
| Inventory | 42 | 51 | 68 |
| Payables | 10 | 8 | 11 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY24 | FY25 | FY26 |
|---|---|---|---|
| Cash from operations | 19 | 14 | 31 |
| Cash from investing | -56 | -103 | -70 |
| Cash from financing | 36 | 90 | 38 |
| Capex | 1 | 5 | 8 |
| Free cash flow | 19 | 9 | 23 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY24 | FY25 | FY26 |
|---|---|---|---|
| ROE % | 28.7% | 11.1% | 7.4% |
| ROCE % | 28.6% | 14.6% | 9.0% |
| Debtor days | 10 | 16 | 20 |
| Inventory days | 54 | 54 | 54 |
| Payable days | 13 | 9 | 9 |
| Cash conversion cycle (days) | 51 | 61 | 65 |
| Working capital days | 75 | 96 | 78 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 74.95% |
| FIIs | 0.20% |
| DIIs | 3.69% |
| of which Mutual funds | 0.00% |
| of which Insurance | 0.00% |
| Public (non-institutions) | 21.16% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 74.96% | 74.96% | 74.95% | 74.95% | 74.95% | 74.95% | 74.95% | 74.95% |
| Promoter group | % |
|---|---|
| Gopal Sponge and Power Private Limited | 71.37% |
| Vijay Anand Jhanwar | 3.01% |
| Kusum Lata Maheshwari | 0.58% |
| Divya Jhanwar | 0.00% |
| Sangita Mohta | 0.00% |
| Sunita Malhotra | 0.00% |
| Seema Jakhotia | 0.00% |
| Jagdish Prasad Lahoti | 0.00% |
| Raj Kumari Lahoti | 0.00% |
| Deepak Lahoti | 0.00% |
| Khush Jhanwar | 0.00% |
| Vraj Jhanwar | 0.00% |
| Kailash Chand Toshniwal | 0.00% |
| Vimla Rathi | 0.00% |
| Jagdish Prasad Jhanwar | 0.00% |
| Public holders above 1% | % |
|---|---|
| Volrado Venture Partners Fund IV Gamma | 3.66% |
33,259 shareholders. Pledged: – of promoter shares.
Peers in Sponge Iron
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Announcements NSE filings
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
| Sector | Commodities |
| Industry | Sponge Iron |
| Sub-industry | Sponge Iron |
| Symbol | VRAJ |
| BSE code | 544204 |
| ISIN | INE0S2V01010 |
| 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.