VESUVIUS
Vesuvius India Limited
Refractories and flow-control systems for steelmaking and non-ferrous metal processing
Industrials›Capital Goods›Industrial Products›Electrodes & Refractories
vesuviusindia.in(opens the company website in a new tab)Key metrics
Price as of 2026-10-16
Stock price
₹411.85
Market cap
8,367 Cr
Stock P/E
32.7
P/B
4.78
Dividend yield
0.4%
ROE (year to Dec 2025)
15.9%
ROCE (year to Dec 2025)
21.5%
Operating margin (year to Dec 2025)
14.2%
Debt / equity (year to Dec 2025)
0.00
OCF / EBITDA (year to Dec 2025)
49.3%
OCF / EBITDA (3Y)
52.1%
Full years shown; sign in free for the trailing twelve months. Learn about these metrics →
Price & valuation
Share price and valuation multiples (P/E, P/B and more) over time.
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Compare with peers
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What you need to know
Vesuvius India makes refractory products and control systems, and provides related refractory services, for industrial applications such as the furnaces, ladles and other vessels used in steelmaking.
Company snapshot
2ndBy market cap
Ranked among 8 companies in Electrodes & Refractories.
Segment mix
Reportable segments as of 2020-06-30 (Standalone). Revenue share = segment revenue ÷ total revenue.
Largest segment: 5.7% of revenue
| Segment | Revenue share | Revenue | PBT | Assets |
|---|---|---|---|---|
| Net Profit before Tax | 5.7% | 8 Cr | 8 Cr | 8 Cr |
What we see
Positives
- ✓Debt-to-equity of 0.00x — the company is largely funded by its own money, not borrowed funds.
1 more signal from the filings.Sign in free to see them all
Statement tables · Standalone
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Standalone only
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 413 Cr | 417 Cr | 453 Cr | 462 Cr | 444 Cr | 509 Cr | 482 Cr | 524 Cr | 547 Cr | 551 Cr | 500 Cr | 536 Cr |
| Operating expenses (approx.) | 331 Cr | 337 Cr | 358 Cr | 371 Cr | 365 Cr | 427 Cr | 399 Cr | 433 Cr | 455 Cr | 457 Cr | 416 Cr | 449 Cr |
| EBITDA | 82 Cr | 80 Cr | 95 Cr | 92 Cr | 79 Cr | 82 Cr | 83 Cr | 91 Cr | 92 Cr | 94 Cr | 84 Cr | 87 Cr |
| OPM % | 19.9% | 19.2% | 20.9% | 19.8% | 17.8% | 16.1% | 17.2% | 17.4% | 16.9% | 17.0% | 16.7% | 16.2% |
| Other income | 8 Cr | 7 Cr | 8 Cr | 10 Cr | 23 Cr | 7 Cr | 10 Cr | 8 Cr | 7 Cr | 34 Cr | 9 Cr | 10 Cr |
| Interest | 0.14 Cr | 0.29 Cr | 0.29 Cr | 0.30 Cr | 0.29 Cr | 0.30 Cr | 0.30 Cr | 0.30 Cr | 0.30 Cr | 0.31 Cr | 0.30 Cr | 0.32 Cr |
| Depreciation | 9 Cr | 11 Cr | 10 Cr | 11 Cr | 12 Cr | 13 Cr | 13 Cr | 15 Cr | 17 Cr | 17 Cr | 17 Cr | 18 Cr |
| Profit before tax | 81 Cr | 76 Cr | 92 Cr | 90 Cr | 90 Cr | 76 Cr | 80 Cr | 85 Cr | 83 Cr | 109 Cr | 75 Cr | 79 Cr |
| Tax % | 25.4% | 25.4% | 25.4% | 25.5% | 23.8% | 21.5% | 25.6% | 25.6% | 25.6% | 26.6% | 25.6% | 25.7% |
| Net profit | 60 Cr | 57 Cr | 69 Cr | 67 Cr | 68 Cr | 60 Cr | 59 Cr | 63 Cr | 62 Cr | 80 Cr | 56 Cr | 59 Cr |
| EPS (₹) | ₹29.70 | ₹28.12 | ₹33.89 | ₹33.18 | ₹33.73 | ₹29.53 | ₹29.22 | ₹3.11 | ₹3.03 | ₹3.95 | ₹2.75 | ₹2.88 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 950 Cr | 925 Cr | 887 Cr | 792 Cr | 1,047 Cr | 1,343 Cr | 1,603 Cr | 1,869 Cr | 2,104 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | 788 Cr | 778 Cr | 766 Cr | 715 Cr | 948 Cr | 1,179 Cr | 1,316 Cr | 1,521 Cr | 1,744 Cr | Sign in free for the trailing twelve months |
| EBITDA | 161 Cr | 147 Cr | 121 Cr | 77 Cr | 99 Cr | 164 Cr | 287 Cr | 347 Cr | 360 Cr | Sign in free for the trailing twelve months |
| OPM % | 17.0% | 15.9% | 13.6% | 9.7% | 9.5% | 12.2% | 17.9% | 18.6% | 17.1% | Sign in free for the trailing twelve months |
| Other income | 13 Cr | 23 Cr | 29 Cr | 21 Cr | 20 Cr | 23 Cr | 35 Cr | 48 Cr | 59 Cr | Sign in free for the trailing twelve months |
| Interest | — | 0 Cr | 0 Cr | 0 Cr | 0 Cr | 0 Cr | 0.43 Cr | 1 Cr | 1 Cr | Sign in free for the trailing twelve months |
| Depreciation | 30 Cr | 28 Cr | 27 Cr | 26 Cr | 27 Cr | 30 Cr | 36 Cr | 46 Cr | 62 Cr | Sign in free for the trailing twelve months |
| Profit before tax | 145 Cr | 142 Cr | 123 Cr | 72 Cr | 92 Cr | 157 Cr | 285 Cr | 349 Cr | 356 Cr | Sign in free for the trailing twelve months |
| Tax % | 34.8% | 35.0% | 30.7% | 25.9% | 25.7% | 25.5% | 25.4% | 24.2% | 25.9% | Sign in free for the trailing twelve months |
| Net profit | 94 Cr | 93 Cr | 86 Cr | 53 Cr | 68 Cr | 117 Cr | 213 Cr | 265 Cr | 264 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | ₹46.54 | ₹45.59 | ₹42.15 | ₹26.12 | ₹33.53 | ₹57.54 | ₹104.92 | ₹130.33 | ₹13.01 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | 26.8% | 20.9% | 13.9% | 7.9% | 9.8% | 11.1% | Sign in free for the trailing twelve months |
Sign in free for the trailing twelve months
The latest four quarters added up, next to each full year
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 20 Cr | 20 Cr | 20 Cr | 20 Cr | 20 Cr | 20 Cr | 20 Cr | 20 Cr | 20 Cr |
| Reserves | 641 Cr | 717 Cr | 784 Cr | 822 Cr | 876 Cr | 977 Cr | 1,173 Cr | 1,411 Cr | 1,644 Cr |
| Borrowings | — | — | — | — | — | — | — | — | — |
| Other liabilities | 193 Cr | 188 Cr | 177 Cr | 216 Cr | 292 Cr | 333 Cr | 395 Cr | 416 Cr | 486 Cr |
| Total liabilities | 854 Cr | 925 Cr | 981 Cr | 1,058 Cr | 1,188 Cr | 1,331 Cr | 1,589 Cr | 1,847 Cr | 2,150 Cr |
| Fixed assets (net) | 113 Cr | 119 Cr | 123 Cr | 119 Cr | 115 Cr | 193 Cr | 315 Cr | 434 Cr | 622 Cr |
| CWIP | 38 Cr | 26 Cr | 28 Cr | 21 Cr | 27 Cr | 38 Cr | 86 Cr | 196 Cr | 52 Cr |
| Investments | — | 0 Cr | — | 0 Cr | 0 Cr | 0 Cr | 0 Cr | 0 Cr | 0 Cr |
| Loans & advances | — | 0.33 Cr | — | 0.37 Cr | 0.35 Cr | 0.44 Cr | 0.25 Cr | 0.50 Cr | 0.66 Cr |
| Inventories | 95 Cr | 123 Cr | 108 Cr | 117 Cr | 213 Cr | 204 Cr | 256 Cr | 247 Cr | 296 Cr |
| Trade receivables | 220 Cr | 181 Cr | 188 Cr | 163 Cr | 164 Cr | 209 Cr | 323 Cr | 385 Cr | 484 Cr |
| Cash & bank | 345 Cr | 114 Cr | 468 Cr | 52 Cr | 26 Cr | 132 Cr | 160 Cr | 158 Cr | 288 Cr |
| Other assets | 43 Cr | 361 Cr | 67 Cr | 585 Cr | 643 Cr | 554 Cr | 448 Cr | 427 Cr | 407 Cr |
| Total assets | 854 Cr | 925 Cr | 981 Cr | 1,058 Cr | 1,188 Cr | 1,331 Cr | 1,589 Cr | 1,847 Cr | 2,150 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 191 Cr | 95 Cr | 74 Cr | 102 Cr | 27 Cr | 128 Cr | 82 Cr | 258 Cr | 177 Cr |
| Cash from investing | 2 Cr | -310 Cr | 297 Cr | -503 Cr | -39 Cr | -6 Cr | -37 Cr | -233 Cr | -18 Cr |
| Cash from financing | -16 Cr | -17 Cr | -17 Cr | -14 Cr | -14 Cr | -16 Cr | -18 Cr | -27 Cr | -30 Cr |
| Net cash flow | 177 Cr | -231 Cr | 354 Cr | -415 Cr | -26 Cr | 106 Cr | 28 Cr | -1 Cr | 130 Cr |
| Free cash flow (OCF − Capex) | 151 Cr | 70 Cr | 43 Cr | 87 Cr | -5 Cr | 16 Cr | -117 Cr | 0.86 Cr | 72 Cr |
Ratios
| Metric | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|
| ROCE % | 21.9% | 19.3% | 15.3% | 8.5% | 10.2% | 15.7% | 23.9% | 24.5% | 21.5% |
| ROE % | 14.3% | 12.5% | 10.6% | 6.3% | 7.6% | 11.7% | 17.8% | 18.5% | 15.9% |
| Debtor days | 84 | 71 | 77 | 75 | 57 | 57 | 73 | 75 | 84 |
| Inventory days | 111 | 124 | 116 | 136 | 175 | 145 | 154 | 139 | 132 |
| Days payable | 179 | 0 | 134 | 183 | 182 | 175 | 173 | 167 | 186 |
| Cash conversion cycle | 16 | 195 | 59 | 28 | 49 | 27 | 54 | 47 | 30 |
| OCF / EBITDA % | 118.3% | 64.2% | 61.5% | 132.9% | 26.9% | 78.4% | 28.7% | 74.3% | 49.3% |
| OCF / EBITDA % (3 years) | — | — | 83.8% | 78.6% | 68.4% | 75.7% | 43.2% | 58.8% | 52.1% |
| Debt / equity | — | 0.00 | — | 0.00 | — | — | — | — | 0.00 |
| Current ratio | 3.72 | 23.32 | 4.92 | 4.46 | 3.65 | 3.34 | 3.10 | 3.12 | 3.21 |
| Net debt / EBITDA | -2.14 | -0.77 | — | -0.68 | -0.26 | -0.80 | -0.56 | -0.46 | -0.80 |