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Vikas Proppant & Granite Limited (531518) fair value: what the stock is really worth

As of Oct 1, 2026: fair value of Vikas Proppant & Granite Limited ₹0.21, price ₹0.26, upside -19.2%, quality 38 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Consumer Non-Cyclicals · IN · ISIN INE767B01022

VP Thin data Sep 27, 2026

Vikas Proppant & Granite Limited

531518 · BSE

Weak valuationQuality is weak on top of the rich price.

!Fair value ₹0.2100 · Overvalued (−19.2%)
!Quality 38/100
!Weak Growth (revenue 5y −27.3 %/yr)
!Loss-making · -48.3% net margin (FY2021)
✓Low debt
!Mixed vs. peers (4/9)
!Evidence only low, so the estimate is less certain
!Weak on valuation: 8 out of 100

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

₹3.31 ₹0.2400 Fair Value ₹0.2100 Apr 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.

How to read this chart

60‑month range ₹0.2400 – ₹3.31 · fair‑value band ₹0.1600 – ₹0.3100 · the ₹0.2600 price screens above the ₹0.2100 fair value. Dashed = 300-day average. As of Sep 27, 2026.

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Company profile

Vikas Proppant & Granite Limited manufactures and sells food and industrial grade guar gum powder in India. The company is also involved in the grading of guar splits and its derivatives. It offers its products under the ADICOL brand name.

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Vikas Proppant & Granite Limited manufactures and sells food and industrial grade guar gum powder in India. The company is also involved in the grading of guar splits and its derivatives. It offers its products under the ADICOL brand name. The company's products have applications in the food, pharma, textile, cosmetic, deep-drilling, explosive, paper, tanneries, and other industries. It also markets its products in the United States, Europe, Brazil, Japan, China, Australia, South Africa, and internationally. The company was formerly known as Vikas Granaries Limited and changed its name to Vikas Proppant & Granite Limited in February 2018. Vikas Proppant & Granite Limited was incorporated in 1994 and is based in Sri Ganganagar, India.

Stock analysis

Vikas Proppant & Granite Limited (531518) currently trades at ₹0.2600, while our model-based Fair Value estimate is ₹0.2100, 19.2% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 88/100, which puts the evidence level at low.

Scenario range: ₹0.1600 (bear) to ₹0.3100 (bull), the price of ₹0.2600 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 38/100 (below-average quality), in the Consumer Non-Cyclicals sector.

Weak Growth: Revenue growth is weak, negative or inconsistent.

Vikas Proppant & Granite Limited reported revenue of ₹236M in FY2021 versus ₹31.2M in FY2017, a compound +65.9%/yr. Reported net income was −₹114M in FY2021.

Key figures

Market cap ₹1.6B (≈ $16.3M) · P/E ratio 40.0 · EPS (TTM) ₹0.0775 · Net margin −48.3% · Return on assets (EBIT) 1.0%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).

What moves the price

The share trades about 28% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Consumer Non-Cyclicals peers we cover trades at −24% fair-value upside, at −19%, 531518 screens cheaper than that median.

Fair Value models

Bear ₹0.1600 Fair Value ₹0.2100 Bull ₹0.3100
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
NCAV (Graham) ₹0.1600 ₹0.2100 ₹0.3100 54
All 1 models by family
Asset-Based
NCAV (Graham) ₹0.1600 ₹0.2100 ₹0.3100 54

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Quality Score breakdown

Overall quality 38/100

Of which business quality 35 · Market factors (momentum, volatility) 26

Profitability 2
Margins and returns on capital today
Quality Growth 46
Are margins and returns improving?
Cashflow 53
Earnings quality: real cash, not paper profit
Fin. Strength 35
Balance sheet, leverage, solvency risk
Investment 54
Disciplined investing over empire-building
Low Volatility 43
Calm price path (market factor)
Momentum 25
Price trend over the last 3–12 months (market factor)
52W Momentum 8
Distance to the 52-week high (market factor)
Net Issuance 32
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 0/100
Revenue growth is weak, negative or inconsistent.
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−27.3%
Revenue growth 7 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−22.5%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−6.6% (2016) → −48.3% (2021)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2021 is a loss year, no rate is defined from a loss
not computed

531518 screens overvalued: fair value 19% below the price. Compare with FB →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Food & Tobacco · 25 stocks

Beats the industry median on 3/8 measures
Overall it trails its industry peers.
Valuation
Quality Score 35 · Bottom 25%
Fair Value upside −19.2% · Below median
Profitability
Return on assets 0.0% · Above median
Net margin (TTM) −48.3% · Bottom 25%
Operating margin (TTM) 0.0% · Above median
Growth and dividend
Revenue growth 0.0% · Above median
Balance sheet
Debt / equity 0.31× · Highest 25%

Valuation Multiplesvs Food & Tobacco median · lower = cheaper

P/E (TTM) 40.0× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)8 · sector 62
FUTURE (revenue growth)0 · sector 0
PAST (return on equity)0 · sector 0
HEALTH (low debt)85 · sector 97
DIVIDEND (yield)0 · sector 63

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Tobacco

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Cite: Fair Value Calculator (2026). "Vikas Proppant & Granite Limited Fair Value". https://www.fairvalue-calculator.com/stock/531518

Frequently asked questions

Is Vikas Proppant & Granite Limited (531518) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of ₹0.2100 versus a price of ₹0.2600, about −19% upside (overvalued).
What is the fair value of 531518?
Our model-based fair value for Vikas Proppant & Granite Limited is ₹0.2100 (as of Sep 27, 2026), built from audited fundamentals. The current price: ₹0.2600.
What is the quality score of 531518?
Vikas Proppant & Granite Limited has a Quality Score of 38/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Vikas Proppant & Granite Limited (531518)?
Our model-based price target is the fair value of ₹0.2100 (as of Sep 27, 2026) from 1 valuation models. Cautious scenario ₹0.1600, optimistic scenario ₹0.3100. It is a calculation from audited fundamentals, not an analyst target.
What is the Vikas Proppant & Granite Limited stock forecast for 2026?
Our models put fair value at ₹0.2100, about −19% upside versus a price of ₹0.2600 (overvalued). Cautious scenario ₹0.1600, optimistic scenario ₹0.3100. The calculation is refreshed regularly with new filings.
What is the intrinsic value of Vikas Proppant & Granite Limited (531518)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Vikas Proppant & Granite Limited it is ₹0.2100 per share (as of Sep 27, 2026), against a price of ₹0.2600. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Vikas Proppant & Granite Limited stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 531518 trades above its calculated fair value: price ₹0.2600, fair value ₹0.2100, a gap of about −19% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 531518?
No. The price is what the market pays today (₹0.2600); the fair value is what the company's own numbers justify (₹0.2100). For Vikas Proppant & Granite Limited the two are ₹0.0500 per share apart. That gap is exactly why we show both numbers side by side.
How much is Vikas Proppant & Granite Limited worth?
The market values Vikas Proppant & Granite Limited at about ₹1.6B (market capitalisation, as of Sep 27, 2026). Per share that is ₹0.2600; our models calculate a fair value of ₹0.2100 per share.
What do the bullish and bearish scenarios say about 531518?
Our models span a range for Vikas Proppant & Granite Limited: cautious scenario ₹0.1600, base ₹0.2100, optimistic ₹0.3100 per share (as of Sep 27, 2026, price ₹0.2600). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 531518?
Vikas Proppant & Granite Limited trades at a price-to-earnings ratio of 40.0 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹0.2100 is built from several models across several years.
How solid is the balance sheet of Vikas Proppant & Granite Limited (531518)?
Balance-sheet figures for Vikas Proppant & Granite Limited (as of Sep 27, 2026): debt of 0.31 per unit of equity. They feed the Quality Score of 38/100, which measures business quality independently of the share price.
How far is 531518 from its 52-week high?
Vikas Proppant & Granite Limited trades at ₹0.2600, about 28% below its 52-week high of ₹0.3600 and 8% above the low of ₹0.2400 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹0.2100 is for.
Which stocks are comparable to Vikas Proppant & Granite Limited?
From the same area (Consumer Non-Cyclicals) we also value FB, URC, MONDE, CNPF, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Vikas Proppant & Granite Limited stock attractive at the current price?
The data as of Sep 27, 2026: price ₹0.2600, calculated fair value ₹0.2100 (−19%), Quality Score 38/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 531518 calculated?
We run Vikas Proppant & Granite Limited through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹0.2100, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Vikas Proppant & Granite Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Vikas Proppant & Granite Limited (531518)?
The closing price on Oct 1, 2026 was ₹0.2600. Our model-based fair value is ₹0.2100, about −19% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Vikas Proppant & Granite Limited right now?
Weak quality (38/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range (₹0.1600 to ₹0.3100) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Vikas Proppant & Granite Limited

How large is the market capitalisation of Vikas Proppant & Granite Limited (531518)?
The market capitalisation of Vikas Proppant & Granite Limited is ₹1.6B (≈ $16.3M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of Vikas Proppant & Granite Limited (531518)?
Earnings per share at Vikas Proppant & Granite Limited are ₹0.0775 (price ÷ EPS = P/E 40.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Vikas Proppant & Granite Limited (531518)?
The net margin of Vikas Proppant & Granite Limited is −48.3% (fiscal year 2021). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the EBIT return on assets of Vikas Proppant & Granite Limited (531518)?
On an EBIT basis the return on assets of Vikas Proppant & Granite Limited is 1.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
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