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Vegetable Products Limited (539132) fair value: what the stock is really worth

As of Oct 1, 2026: fair value of Vegetable Products Limited ₹12.97, price ₹8.29, upside +56.5%, quality 43 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
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Other · IN

VP Thin data Sep 27, 2026

Vegetable Products Limited

539132 · BSE

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value ₹12.97 · Strongly undervalued (+56.5%)
!Quality 43/100
!Mixed Growth (revenue 3y +212.2 %/yr)
!Thin margins · 0.6% net margin (FY2026)
!Low debt · negative free cash flow
✓Ranks above peers (5/8)
!Narrow moat 41/100
!Evidence only low, so the estimate is less certain

What runs behind every stock

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

Price vs Fair Value

₹97.50 ₹2.35 Fair Value ₹12.97 May 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 ₹2.35 – ₹97.50 · fair‑value band ₹11.89 – ₹16.74 · the ₹8.29 price screens below the ₹12.97 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.

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Company profile

Vegetable Products Limited does not have significant operations. Previously, it was involved in manufacturing and trading vanaspati and edible oils, and commodities. The company was founded in 1953 and is based in Kolkata, India.

Stock analysis

Vegetable Products Limited (539132) currently trades at ₹8.29, while our model-based Fair Value estimate is ₹12.97, implying the stock looks roughly 36.1% undervalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of ₹68.75 per share, and 8 of the 13 models we run sit above the ₹8.29 price.

Bear case: the Multiples group reads lowest at ₹5.29, and 5 of the 13 models stay below the price. Evidence for this calculation is low.

Scenario range: ₹11.89 (bear) to ₹16.74 (bull), the price of ₹8.29 sits below 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 43/100 (below-average quality), in the Other sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Vegetable Products Limited reported revenue of ₹2.4B in FY2026 versus ₹12.9M in FY2022, a compound +268.4%/yr. Reported net income was ₹13.1M in FY2026.

Key figures

Market cap ₹349M (≈ $3.6M) · EPS (TTM) ₹0.0009 · Net margin 0.6% · Return on assets (EBIT) −7.3% · Free cash flow −₹33.1M · Net debt ₹370M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).

What moves the price

The share trades about 36% below its 52-week high and 10% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Other peers we cover trades at −10% fair-value upside, at 56%, 539132 screens cheaper than that median.

Fair Value models

Bear ₹11.89 Fair Value ₹12.97 Bull ₹16.74
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. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹0.0005 per share) are deliberately not added. 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
Residual Income ₹13.25 ₹12.37 ₹12.09 68
Owner Earnings ₹26.79 ₹68.75 ₹153.59 67
EV/EBITDA ₹6.11 ₹10.71 ₹15.31 65
All 13 models by family
DCF Models
Owner Earnings ₹26.79 ₹68.75 ₹153.59 67
Earnings-Based
Graham-Dodd ₹2.11 ₹14.75 ₹20.69 61
Lynch FV ₹7.62 ₹10.88 ₹14.15 59
PEG = 1.0 ₹7.62 ₹10.88 ₹14.15 55
Multiples
P/E Multiple ₹3.96 ₹5.29 ₹6.61 63
P/S Multiple ₹3.96 ₹5.29 ₹6.61 58
P/B Multiple ₹3.96 ₹5.29 ₹6.61 55
EV/EBIT n/a ₹1.48 ₹3.78 61
EV/EBITDA ₹6.11 ₹10.71 ₹15.31 65
EV/Revenue n/a ₹0.8300 >₹3.32 50
Asset-Based
NCAV (Graham) ₹9.68 ₹12.97 ₹19.36 54
Economic Profit
Residual Income ₹13.25 ₹12.37 ₹12.09 68
Growth Earnings
Growth-Adj P/E ₹9.37 ₹13.39 ₹17.41 65

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Quality Score breakdown

Overall quality 43/100

Of which business quality 39 · Market factors (momentum, volatility) 47

Profitability 31
Margins and returns on capital today
Quality Growth 70
Are margins and returns improving?
Cashflow 11
Earnings quality: real cash, not paper profit
Fin. Strength 28
Balance sheet, leverage, solvency risk
Investment 84
Disciplined investing over empire-building
Low Volatility 24
Calm price path (market factor)
Momentum 49
Price trend over the last 3–12 months (market factor)
52W Momentum 70
Distance to the 52-week high (market factor)
Net Issuance 40
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. 44/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+156.2%
Revenue growth 3 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.
+212.2%
Revenue growth 12 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.
+16.8%
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.
−34.8% (2022) → 1.2% (2026)

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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.Other · 114 stocks

Beats the industry median on 4/7 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 43 · Below median
Fair Value upside +56.5% · Top 25%
Profitability
Return on assets 0.0% · Above median
Net margin (TTM) 0.6% · Below median
Operating margin (TTM) 0.0% · Above median
Growth and dividend
Revenue growth 0.0% · Top 25%
Balance sheet
Debt / equity 0.40× · Highest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 23
FUTURE (revenue growth)0 · sector 0
PAST (return on equity)0 · sector 0
HEALTH (low debt)80 · sector 98
DIVIDEND (yield)0 · sector 24

Context: sector, industry, market

Values & ESG

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

None of the checked exposures detected

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590024 590024 ₹778.10 ₹103.33 −87%
Indiabulls Real Estate Limited 532832 ₹56.12 ₹71.71 +28%
542851 542851 ₹16.60 ₹13.24 −20%
Balmer Lawrie Investments Limited BLIL ₹64.73 ₹120.18 +86%
590005 590005 ₹1,357 ₹2,019 +49%
National Peroxide Limited 500298 ₹620.75 ₹205.83 −67%
Transpek Industry Limited 506687 ₹1,310 ₹1,176 −10%
Oriental Carbon & Chemicals Limited ORIENTCQ ₹123.15 ₹26.58 −78%
Shree Digvijay Cement Company 502180 ₹66.72 ₹32.46 −51%

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Cite: Fair Value Calculator (2026). "Vegetable Products Limited Fair Value". https://www.fairvalue-calculator.com/stock/539132

Frequently asked questions

Is Vegetable Products Limited (539132) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of ₹12.97 versus a price of ₹8.29, about +56% upside (undervalued).
What is the fair value of 539132?
Our model-based fair value for Vegetable Products Limited is ₹12.97 (as of Sep 27, 2026), built from audited fundamentals. The current price: ₹8.29.
What is the quality score of 539132?
Vegetable Products Limited has a Quality Score of 43/100. 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 Vegetable Products Limited (539132)?
Our model-based price target is the fair value of ₹12.97 (as of Sep 27, 2026) from 13 valuation models. Cautious scenario ₹11.89, optimistic scenario ₹16.74. It is a calculation from audited fundamentals, not an analyst target.
What is the Vegetable Products Limited stock forecast for 2026?
Our models put fair value at ₹12.97, about +56% upside versus a price of ₹8.29 (undervalued). Cautious scenario ₹11.89, optimistic scenario ₹16.74. The calculation is refreshed regularly with new filings.
What is the intrinsic value of Vegetable Products Limited (539132)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Vegetable Products Limited it is ₹12.97 per share (as of Sep 27, 2026), against a price of ₹8.29. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is Vegetable Products Limited stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 539132 trades below its calculated fair value: price ₹8.29, fair value ₹12.97, a gap of about +56% (undervalued). 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 539132?
No. The price is what the market pays today (₹8.29); the fair value is what the company's own numbers justify (₹12.97). For Vegetable Products Limited the two are ₹4.68 per share apart. That gap is exactly why we show both numbers side by side.
How much is Vegetable Products Limited worth?
The market values Vegetable Products Limited at about ₹349M (market capitalisation, as of Sep 27, 2026). Per share that is ₹8.29; our models calculate a fair value of ₹12.97 per share.
What do the bullish and bearish scenarios say about 539132?
Our models span a range for Vegetable Products Limited: cautious scenario ₹11.89, base ₹12.97, optimistic ₹16.74 per share (as of Sep 27, 2026, price ₹8.29). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Vegetable Products Limited (539132)?
Balance-sheet figures for Vegetable Products Limited (as of Sep 27, 2026): debt of 0.40 per unit of equity. They feed the Quality Score of 43/100, which measures business quality independently of the share price.
How far is 539132 from its 52-week high?
Vegetable Products Limited trades at ₹8.29, about 36% below its 52-week high of ₹12.87 and 10% above the low of ₹7.53 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹12.97 is for.
Which stocks are comparable to Vegetable Products Limited?
From the same area (Other) we also value 542772, 590024, Indiabulls Real Estate Limited, 542851, 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 Vegetable Products Limited stock attractive at the current price?
The data as of Sep 27, 2026: price ₹8.29, calculated fair value ₹12.97 (+56%), Quality Score 43/100, from 13 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 539132 calculated?
We run Vegetable Products Limited through 13 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 ₹12.97, 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. Vegetable Products Limited currently trades 36 % below its own fair value, and the market average says nothing about that. 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 Vegetable Products Limited (539132)?
The closing price on Oct 1, 2026 was ₹8.29. Our model-based fair value is ₹12.97, about +56% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Vegetable Products Limited right now?
The large discount to fair value meets weak quality (43/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (₹11.89). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Vegetable Products Limited

How large is the market capitalisation of Vegetable Products Limited (539132)?
The market capitalisation of Vegetable Products Limited is ₹349M (≈ $3.6M). 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 Vegetable Products Limited (539132)?
Earnings per share at Vegetable Products Limited are ₹0.0009. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Vegetable Products Limited (539132)?
The net margin of Vegetable Products Limited is 0.6% (fiscal year 2026). 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 Vegetable Products Limited (539132)?
On an EBIT basis the return on assets of Vegetable Products Limited is −7.3% (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.
How much free cash flow does Vegetable Products Limited (539132) generate?
The free cash flow of Vegetable Products Limited is −₹33.1M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Vegetable Products Limited (539132) carry?
The net debt of Vegetable Products Limited is ₹370M (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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