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Vishnusurya Projects and Infra Ltd

VISHNUINFR
NSE
146.50
4.81%
Last Updated:
29 Apr '26, 4:00 PM
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Vishnusurya Projects and Infra Ltd

VISHNUINFR
NSE
146.50
4.81%
29 Apr '26, 4:00 PM
Company Overview
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6M
Price
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Quick Ratios

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Mkt Cap
Market Capitalization
380Cr
Close
Close Price
146.50
Industry
Industry
Mining/Minerals
PE
Price To Earnings
12.54
PS
Price To Sales
1.40
Revenue
Revenue
271Cr
Rev Gr TTM
Revenue Growth TTM
PAT Gr TTM
PAT Growth TTM
Peer Comparison
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VISHNUINFR
VS

Quarterly Results

Consolidated
Standalone
Numbers
Percentage
QuarterDec 2024Sep 2025Dec 2025
Revenue
RevenueCr
3811956
Growth YoY
Revenue Growth YoY%
48.7
Expenses
ExpensesCr
298944
Operating Profit
Operating ProfitCr
83012
OPM
OPM%
22.124.922.1
Other Income
Other IncomeCr
000
Interest Expense
Interest ExpenseCr
122
Depreciation
DepreciationCr
222
PBT
PBTCr
6269
Tax
TaxCr
315
PAT
PATCr
3244
Growth YoY
PAT Growth YoY%
32.3
NPM
NPM%
7.920.57.0
EPS
EPS
1.29.91.6

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2020Mar 2021Mar 2022Mar 2023Mar 2025
Revenue
RevenueCr
456376132271
Growth
Revenue Growth%
40.920.973.1
Expenses
ExpensesCr
395561100221
Operating Profit
Operating ProfitCr
68163250
OPM
OPM%
13.312.920.924.418.3
Other Income
Other IncomeCr
102011
Interest Expense
Interest ExpenseCr
33245
Depreciation
DepreciationCr
22476
PBT
PBTCr
23302239
Tax
TaxCr
018510
PAT
PATCr
22221729
Growth
PAT Growth%
25.9842.0-19.6
NPM
NPM%
4.13.628.213.110.9
EPS
EPS
4.112.624.925.310.6

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2020Mar 2021Mar 2022Mar 2023Mar 2025
Equity Capital
Equity CapitalCr
444925
Reserves
ReservesCr
27313750134
Current Liabilities
Current LiabilitiesCr
35475036104
Non Current Liabilities
Non Current LiabilitiesCr
1313272539
Total Liabilities
Total LiabilitiesCr
8096118121302
Current Assets
Current AssetsCr
37476266146
Non Current Assets
Non Current AssetsCr
43495655156
Total Assets
Total AssetsCr
8096118121302

Cash Flow

Consolidated
Standalone
Financial YearMar 2020Mar 2021Mar 2022Mar 2023Mar 2025
Operating Cash Flow
Operating Cash FlowCr
622-11118
Investing Cash Flow
Investing Cash FlowCr
-1-3-7-11-63
Financing Cash Flow
Financing Cash FlowCr
-4-1818-156
Net Cash Flow
Net Cash FlowCr
110-10
Free Cash Flow
Free Cash FlowCr
419-1708
CFO To PAT
CFO To PAT%
306.5946.7-50.561.826.5
CFO To EBITDA
CFO To EBITDA%
93.5265.1-68.333.215.7

Ratios

Consolidated
Standalone
Financial YearMar 2020Mar 2021Mar 2022Mar 2023Mar 2025
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
0000417
Price To Earnings
Price To Earnings
0.00.00.00.014.2
Price To Sales
Price To Sales
0.00.00.00.01.5
Price To Book
Price To Book
0.00.00.00.02.6
EV To EBITDA
EV To EBITDA
4.41.62.01.09.8
Profitability Ratios
Profitability Ratios
GPM
GPM%
100.098.795.7102.1100.7
OPM
OPM%
13.312.920.924.418.3
NPM
NPM%
4.13.628.213.110.9
ROCE
ROCE%
9.213.242.327.618.4
ROE
ROE%
5.96.653.029.218.6
ROA
ROA%
2.32.418.214.39.7
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
### **Overview** Vishnusurya Projects and Infra Ltd (VPIL), established in 1996 and headquartered in Chennai, Tamil Nadu, is a diversified infrastructure company with over 28 years of experience in **Engineering, Procurement, and Construction (EPC)**, **mining & manufacturing of aggregates and manufactured sand (M-Sand)**, and **municipal solid waste management**. Operating across key sectors such as transportation, water, rail, housing, marine infrastructure, and renewable urban solutions, VPIL has positioned itself as a full-cycle infrastructure player focused on sustainable development and government-backed projects. --- ### **Core Business Segments** #### **1. EPC (Engineering, Procurement & Construction)** VPIL is a top-tier EPC service provider with a strong focus on **centrally funded and internationally financed projects** to ensure payment security. It avoids credit exposure by steering clear of state or municipal bodies and instead partners with agencies like: - **JICA (Japan International Cooperation Agency)** - **NABARD** - **SIDBI** - **World Bank** - **Central Government and its PSUs** - **Project Execution Excellence**: Achieved **zero backlog in EPC execution for FY21, FY22, and FY23**. - **Turnkey Capabilities**: Leverages an **in-house engineering team** to deliver integrated solutions including **design, engineering, procurement, construction, and O&M**. - **Cumulative Income**: Over **₹390 crores** earned from EPC projects to date; ₹184 crores in FY25 alone. - **Order Book Strength**: Held **₹330 crore order book in FY25**, with visibility rising further by Nov 2025. - **Flagship Project**: The **NH-48 (Chennai–Bangalore) Highway Extension**, a marquee infrastructure project under NHAI. ##### **EPC Divisions by Sector** | Sector | Key Projects & Focus | |-------|------------------------| | **Water & Sewerage** | Actively executing **4 projects under Jal Jeevan Mission and AMRUT 2.0** with TN’s TWAD Board; strategic shift toward exclusive participation in water projects. | | **Marine** | Building **fish landing centers, ponds, auction halls**; JV with SF Marina India to develop **concrete floating jetties** across 5 coastal states (Tamil Nadu, Andhra Pradesh, Karnataka, Kerala, Puducherry). | | **Rail & Metro** | Delivered station and track construction for **Chennai Metro Rail Limited (CMRL)**; led by Mr. Anil Kumar (ex-L&T), with deep expertise in metro/rail systems. | | **Transportation** | Major work on **NH-48**, bridge construction, and road infrastructure; expanding into lift irrigation (e.g., Palamu project in Jharkhand). | | **Housing & Institutional** | Completed **10.5 lakh sq. ft.** of construction, including a **184-apartment residential complex** and a **fish landing center at Tiruchendur**. | ##### **Recent EPC Wins (Nov 2025)** - **₹220 crore share** in a **₹2,217 crore desalination plant** in **Tuticorin** under a **Hybrid Annuity Model** (consortium-led). - **₹103.07 crore turnkey contract** from **JWIL Infra** to supply and erect **MS pipelines** for **Chennai’s 400 MLD Perur desalination plant**, including **17-month execution + 20-year O&M**. - **₹24 crore contract** at **SAIL’s Bokaro Steel Plant**. - **₹123.34 crore pipeline irrigation project** in Jharkhand (under JWIL-VKMCPL JV). ##### **Strategic EPC Approach** - **Conservative Growth Model**: Enters large-scale projects via **consortiums (10% initial equity share)** with intent to increase stake in future. - **Partner-Led Expansion**: Collaborates with industry leaders like **Jindal SAW (water projects)** to co-bid and build technical credibility. - **Focus Shift**: Exclusively targeting **water and sewerage projects** aligned with **National Water Policy, Jal Jeevan Mission, and AMRUT 2.0**. - **Future Pipeline**: Bidding on major **desalination (SIPCOT, 60 MLD)**, **legacy waste (Cuttack, Rs 52 cr)**, **landfill systems (NFC Tuticorin, Rs 4 cr)**, and **rail projects (Southern Railway, Rs 7.5 cr)**. --- #### **2. Mining & Aggregates (M-Sand)** VPIL owns and operates **three advanced quarries** in Tamil Nadu, strategically located near national highways and urban centers for logistical advantage. ##### **Quarry Facilities (as of May 2025)** | Location | Land (acres) | Crusher Capacity (MT/year) | M-Sand Plant (MT/year) | Key Market | |--------|--------------|-------------------------------|--------------------------|----------| | **Aruppukottai** | 110 | 980,000 | 260,000 | Madurai, Thoothukudi | | **Vandavasi** | 42 | 1,375,000 | 393,000 | Chennai | | **Hosur** | 79 | 1,325,000 | 393,000 | Bengaluru | - **Total Crushing Capacity**: ~**4 million tonnes per annum (MTPA)** of aggregates and M-Sand. - **Technology**: Uses **Metso crushers** and **CDE Asia double-wash sand plants** (Hosur) for high-purity M-Sand. - **M-Sand Advantage**: Serves as a **sustainable substitute for river sand**, increasingly mandated in public infrastructure. - **Proximity Edge**: Located within **75 km radius** of major urban hubs; mines near RMC plants to minimize logistics costs. ##### **Mining Expansion & Strategy** - **Forward-Looking Land Acquisition**: Secured **100–120 acres** (vs. current need of ~50 acres) to ensure seamless mine transition. - **Hosur Mine Economics**: - **Capex**: ₹45 crores - **Capacity**: 1.325 MTPA - **FY26 Revenue Expectation**: ₹40–50 crores - **Projected Operating Margin**: ~25% - **Post-Mining Land Reuse**: Exhausted sites (e.g., **Hosur**) expected to revalue from **₹30 lakh/acre to ₹130 lakh/acre** due to urbanization. - **Future Expansion**: Targeting **Tuticorin** due to **₹35,000 crore harbor development** by the Indian government; **one new mine every six months** capability. --- #### **3. Waste Management & Sustainable Urban Solutions** VPIL has strategically expanded into **municipal solid waste management**, positioning itself as a leader in **legacy waste treatment and bio-mining**. ##### **Core Activities** - **Integrated Processing** of **wet and legacy waste** - **Bio-mining**: Segregation and recovery of **metals, recyclables, and inert materials** - **Scientific Landfills & Waste-to-Energy** readiness ##### **Current Projects & Revenue** - **₹5 crores revenue in FY25**, growing to **₹40 crores expected in FY26** - **Active Sites in Chennai**: - **Pallikaranai** - **Sattangadu** - **Athipattu** - **Secured Contracts**: - **₹36 crore** bio-mining project with **Tambaram City Municipal Corporation** (Kolathur site) - **₹150 crore** in geosynthetics and bio-mining works awarded - **Bidding Pipeline**: ~₹100 crore in **Cuttack & Aligarh**, ₹200 crore **Delhi legacy waste project (30 lakh MT)** in FY25–26. ##### **Team Expertise** - Led by **Praveen Kumar Gorantla** (Consultant), Director of **Gorantla Geosynthetics Pvt Ltd**, with **40+ MSW projects executed** across India. --- ### **Strategic Partnerships & JVs** VPIL leverages partnerships to enhance technical depth and bidding strength: - **SF Marina India Pvt Ltd**: Joint venture for **floating concrete jetties and marinas**. - **JWIL Infra**: Collaboration on **desalination and pipeline projects**. - **Jindal SAW**: Co-bidding in **water infrastructure**. - **Gorantla Geosynthetics**: Waste management execution partner. - **VKMCPL**: Consortium partner in **Jharkhand irrigation project**. --- ### **Geographical Presence & Future Growth** - **Primary Operations**: **Tamil Nadu**, with growing footprint in **Andhra Pradesh**, **Jharkhand**, **Karnataka**, and **Delhi-NCR**. - **Strategies for Expansion**: - Establish **captive mines in Mumbai and Delhi** for pan-India project support. - Expand **mining footprint across Tamil Nadu** and **coastal clusters**. - Bid on **large-scale central government projects (2026–2031)** in **water, sewerage, desalination, and M-Sand supply**. --- ### **Government Alignment & Macro Tailwinds** - **Union Budget 2025–26**: ₹11.21 lakh crore allocated to infrastructure, including **waste and water** sectors—directly benefiting VPIL. - **National Missions**: - **Jal Jeevan Mission** - **AMRUT 2.0** - **National Water Policy** - **Floating Jetty Initiative**: 50 locations identified across South India under central marine infrastructure thrust. --- ### **Key Strengths** 1. **Zero EPC Backlog Record (3 consecutive years)** – strong execution capability. 2. **In-house Design & Engineering** – enables turnkey delivery. 3. **Diversified Project Portfolio** – reduces sector-specific risk (water, roads, rail, marine, waste). 4. **Strategic Mine Locations** – logistical advantage and cost efficiency. 5. **Central/Multilateral Funding Focus** – ensures payment security. 6. **Sustainable Business Models** – M-Sand, bio-mining, urban land revaluation.