Shri Vasuprada Plantations financials and balance sheet

NSE: VASUPRADABSE: 538092Agricultural Food & other ProductsSmall Cap

₹99.25₹0.00 (0.00%)

Share price at the NSE close on 19 Oct 2026. Previous close ₹99.25.

52-week range of BSE trades to 19 Oct 2026

₹85.55Low, 1 Apr 2026₹124.95High, 20 Nov 2025

Market cap: ₹82 Cr3,034th largest listed
P/E: Lossover the last 12 months
P/B: 0.7
Dividend yield: Nonein the last 12 months
ROE: −3.2%
ROCE: 0.4%
Debt to equity: 0.50
Volume, NSE: 54100.0% delivered

10 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.Shri Vasuprada Plantations annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings
Loss

Peak revenue ₹144 Cr, year to Mar 2026A loss in the year to Mar 2026, −₹7.12 Cr

Operating and net margin, per cent

Operating margin
Net margin

From Apr 2019 leases sit on the balance sheet: rent is charged as depreciation and interest instead, so operating profit and total assets step up with nothing about the business having changed. Borrowings here leave lease liabilities out. Lease payments were 2.9% of operating profit in the first full year.

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue144
Materials and goods−31
Employee costs−76
Other expenses−32
Operating profit3.4
Depreciation−6.5
Other income+1.8
One-off items0.0
Finance costs−6.2
Profit before tax−7.4
Tax+0.3
Net profit−7.1

What the company owns

Plant, investments and other assets₹187 Cr
Inventory₹21 Cr
Receivables₹2 Cr
Cash and bank₹0 Cr

What pays for it: net worth and liabilities

Net worth₹119 Cr
Borrowings₹60 Cr
Other liabilities₹28 Cr
Owed to suppliers₹3 Cr

Shri Vasuprada Plantations business segments, year to Mar 2026

A reportable segment is a line of business the company must report on its own. Consolidated, ₹ crore, as the company reports them. A segment at a loss has no share of profit.Shri Vasuprada Plantations segment results by quarter

Revenue by segment

₹144 CrTotal

Tea₹85.0 Cr59.2% of total
Rubber₹37.5 Cr26.1% of total
Coffee₹19.8 Cr13.8% of total
Others₹1.4 Cr0.9% of total

Profit by segment

Rubber₹0.65 Cr6.5% of total
Coffee₹9.31 Cr92.0% of total
Others₹0.15 Cr1.5% of total

Segment results by year

Consolidated, ₹ crore, years to March.

Tea
Revenue, ₹ crore
84
81
92
95
87
76
82
85
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
−11
−13
2
−8
−14
−22
1
−10
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Rubber
Revenue, ₹ crore
11
6
10
16
18
20
32
38
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
−4
−3
−3
0
−2
−1
2
1
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Coffee
Revenue, ₹ crore
5
4
3
10
8
11
16
20
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
0
−1
0
3
2
6
9
9
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Others
Revenue, ₹ crore
1
1
1
1
1
1
2
1
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
0
1
1
1
1
2
1
0
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue of all businesses	101	92	107	122	114	108	132	144
Company revenue, as in its results	101	92	107	122	114	108	132	144
Revenue	84	81	92	95	87	76	82	85
Revenue growth	–	−4.3%	14.5%	2.9%	−8.6%	−12.9%	8.1%	3.7%
Profit	−11	−13	2	−8	−14	−22	1	−10
Margin	−12.7%	−15.7%	1.8%	−8.5%	−16.7%	−28.5%	0.9%	−11.9%
Return on capital	–	−11.6%	1.4%	−7.2%	−13.4%	−19.9%	0.6%	−8.5%
Assets	–	130	140	133	130	130	134	131
Liabilities	–	21	20	20	22	21	13	13
Capital employed	–	110	120	113	108	109	121	119
Revenue	11	6	10	16	18	20	32	38
Revenue growth	–	−41.4%	61.9%	60.0%	12.8%	9.2%	62.2%	15.6%
Profit	−4	−3	−3	0	−2	−1	2	1
Profit growth	–	–	–	–	–	–	–	−68.4%
Margin	−35.1%	−49.2%	−27.0%	1.9%	−10.0%	−3.2%	6.4%	1.7%
Return on capital	–	−17.3%	−17.4%	2.2%	−16.5%	−6.5%	20.8%	6.5%
Assets	–	21	19	17	15	14	14	17
Liabilities	–	3	3	3	4	4	4	7
Capital employed	–	18	16	14	11	10	10	10
Revenue	5	4	3	10	8	11	16	20
Revenue growth	–	−7.9%	−25.9%	206.5%	−25.0%	39.6%	47.4%	26.1%
Profit	0	−1	0	3	2	6	9	9
Profit growth	–	–	–	–	−33.4%	237.4%	38.9%	4.7%
Margin	9.8%	−21.0%	−14.4%	28.0%	24.9%	60.2%	56.7%	47.1%
Return on capital	–	−2.5%	−1.2%	7.1%	4.5%	14.8%	19.5%	21.0%
Assets	–	38	40	41	43	44	46	46
Liabilities	–	0	0	0	0	1	1	1
Capital employed	–	37	39	40	42	43	46	44
Revenue	1	1	1	1	1	1	2	1
Revenue growth	–	–	–	–	–	–	94.1%	−42.7%
Profit	0	1	1	1	1	2	1	0
Profit growth	–	–	–	–	–	–	−38.6%	−87.0%
Margin	−31.1%	100.5%	55.7%	85.8%	55.5%	158.7%	50.2%	11.4%
Return on capital	–	93.9%	94.1%	94.1%	73.4%	88.9%	86.9%	30.8%
Assets	–	1	1	1	1	2	1	0
Liabilities	–	0	0	0	0	0	0	0
Capital employed	–	1	1	1	1	2	1	0
	0	–	–	–	–	–	–	–
Profit	0	–	–	–	–	–	–	–
Assets	0	–	–	–	–	–	–	–
Liabilities	0	–	–	–	–	–	–	–

Profit is before tax and finance costs, the way companies report their segments.

Profit and loss

Consolidated, ₹ crore, years to March.Shri Vasuprada Plantations quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019Filed 16 May	Mar 2020Filed 15 Jul	Mar 2021Filed 12 Jun	Mar 2022Filed 20 Jun	Mar 2023Filed 29 May	Mar 2024Filed 30 Jul	Mar 2025Filed 12 Jun	Mar 2026Filed 22 May
Revenue from operations	95	106	101	92	107	122	114	108	132	144
	–	112	110	104	102	121	122	117	127	140
Materials and goods bought	14	26	25	16	17	27	18	8	19	31
Employee costs	–	56	57	61	60	65	70	76	75	76
Other expenses	–	30	28	27	25	28	33	33	32	32
Operating profit before depreciation	–	−5	−10	−12	5	2	−7	−9	6	3
Operating margin	–	−5.0%	−9.5%	−12.8%	4.4%	1.3%	−6.6%	−8.4%	4.4%	2.4%
Materials, % of revenue	–	24.3%	24.8%	17.4%	15.9%	22.3%	15.5%	7.3%	14.7%	21.8%
Employee costs, % of revenue	–	52.7%	56.8%	66.7%	56.1%	53.3%	61.8%	70.5%	56.4%	53.2%
Other expenses, % of revenue	–	28.1%	28.0%	28.8%	23.6%	23.1%	29.3%	30.6%	24.4%	22.6%
Depreciation and amortisation	5	8	8	7	7	8	8	7	6	6
Operating profit after depreciation	–	−13	−17	−19	−3	−6	−15	−17	−1	−3
Other income	7	5	7	1	1	1	1	3	3	2
Finance costs	–	8	7	7	10	11	8	6	6	6
Profit before one-off items and tax	−14	−16	−17	−26	−12	−16	−22	−19	−4	−7
One-off items	0	0	0	0	0	0	10	11	11	0
Profit before tax	−14	−16	−17	−26	−12	−16	−12	−8	7	−7
	−1	−2	−1	−1	−2	−1	−2	−1	1	0
Current tax	0	0	0	0	0	0	0	0	0	0
Deferred tax	−1	−2	−2	−1	−2	−1	−2	−1	1	0
Share of profit of joint ventures and associates	0	–	–	–	–	–	–	–	–	–
	−14	−14	−16	−24	−10	−15	−11	−7	6	−7
Belonging to the company's shareholders	−14	−14	−16	−24	−10	−15	−11	−7	6	−7
Belonging to outside owners of subsidiaries	–	–	0	0	0	0	0	0	0	0
Other comprehensive income	–	–	0	−2	0	2	−1	0	0	0
Total comprehensive income	–	–	−16	−26	−9	−13	−11	−7	6	−7
Net margin	−14.5%	−13.5%	−15.8%	−26.4%	−8.9%	−12.1%	−9.4%	−6.1%	4.6%	−5.0%
Net margin without joint ventures and associates	−14.4%	–	–	–	–	–	–	–	–	–

Operating expenses, operating profit before depreciation and operating profit after depreciation are left blank for the year to Mar 2017: the statement does not state its finance costs, which operating profit is worked out from, so operating profit is not given.

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ crore	Mar 2019Filed 16 May	Mar 2020Filed 15 Jul	Mar 2021Filed 12 Jun	Mar 2022Filed 20 Jun	Mar 2023Filed 29 May	Mar 2024Filed 30 Jul	Mar 2025Filed 12 Jun	Mar 2026Filed 22 May
	140	114	105	117	136	120	126	119
	140	114	105	117	127	120	126	119
Share capital	4	4	4	8	8	8	8	8
Reserves	136	110	101	109	119	112	118	111
Belonging to outside owners of subsidiaries	0	0	0	0	9	0	0	–
	44	68	87	75	55	58	57	60
Repayable after a year	12	6	9	13	29	29	30	31
Repayable within a year	32	62	79	62	26	28	28	29
	52	83	100	77	41	41	42	43
Trade payables	5	6	5	4	4	3	3	3
Other financial liabilities	10	11	12	6	6	5	6	5
Other liabilities	2	2	2	2	2	2	2	2
Provisions	3	3	2	3	3	3	3	3
	32	29	30	35	50	53	45	48
Other financial liabilities	0	0	–	–	–	1	1	1
Other liabilities	–	0	0	0	0	0	0	0
Provisions	6	10	12	11	14	16	7	8
Deferred tax	14	12	10	10	8	6	8	7
Liabilities going with businesses held for sale	–	–	–	–	0	–	–	–
	224	226	235	229	228	214	213	210
Held for sale or for a demerger	–	–	–	–	21	–	–	–
	206	206	204	204	180	187	179	181
Plant in use, after depreciation	150	149	149	148	126	125	123	123
Plant being built	6	6	5	6	5	5	7	7
Intangible assets	0	0	1	1	1	0	0	0
Goodwill	7	7	7	7	7	7	7	7
Intangible assets being developed	–	1	0	0	0	0	–	–
Investments	1	1	1	1	0	8	2	2
Loans given	2	2	2	2	2	2	2	2
Other financial assets	3	4	4	5	5	5	4	4
Other assets	3	3	3	3	2	3	3	4
	18	20	31	25	28	27	34	30
Inventories	13	13	24	18	18	22	23	21
Trade receivables	2	2	2	2	2	1	5	2
Cash and cash equivalents	0	0	0	0	4	1	1	0
Other bank balances	0	0	0	0	0	0	0	0
Loans given	1	0	1	1	1	0	1	0
Other financial assets	0	0	0	0	0	0	0	0
Other assets	2	4	4	4	3	3	5	6
Net debt	43	67	87	75	51	57	57	59

Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March.

₹ crore	Mar 2021Filed 12 Jun	Mar 2022Filed 20 Jun	Mar 2023Filed 29 May	Mar 2024Filed 30 Jul	Mar 2025Filed 12 Jun	Mar 2026Filed 22 May
	−2.5	11.8	−3.6	−8.7	5.5	10.8
	−2.1	12.1	−3.4	−8.6	3.6	11.3
	−8.1	9.4	2.7	−5.5	−3.2	7.0
Receivables	0.3	−0.1	−0.3	1.0	−4.1	2.9
Inventories	−10.3	6.1	0.2	−4.1	−0.7	1.8
Payables	0.9	−0.1	1.3	−2.2	0.5	0.6
Other working capital	1.0	3.5	1.5	−0.2	1.2	1.7
Tax paid	−0.4	−0.3	−0.4	−0.2	1.9	−0.4
Capital spending	6.9	7.6	5.3	5.9	6.2	7.8
Free cash flow	−9.4	4.2	−8.9	−14.6	−0.7	3.1
	−6.7	−7.6	15.7	8.9	1.1	−7.2
Plant and property sold	0.0	0.1	0.1	0.2	0.0	0.3
Interest received	0.1	0.1	0.2	0.4	0.2	0.3
	9.2	−4.2	−8.9	−3.0	−6.5	−4.2
Borrowings raised	25.2	−12.1	23.2	5.8	1.2	2.3
Borrowings repaid	−7.0	−6.0	−46.6	−2.9	−2.1	−0.4
Interest paid	−8.9	−10.8	−9.3	−5.6	−5.4	−5.9
Lease payments	−0.1	−0.2	−0.2	−0.2	−0.3	−0.3
Dividends paid	0.0	0.0	0.0	0.0	0.0	0.0
Shares bought back	0.0	0.0	0.0	0.0	0.0	0.0
Shares issued	0.0	24.9	23.9	0.0	0.0	0.0
Net change in cash	−0.1	0.0	3.2	−2.8	0.1	−0.5

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020.

Consolidated, ₹ per share, years to March.Shri Vasuprada Plantations dividend history

₹ per share	Mar 2017	Mar 2018	Mar 2019Filed 16 May	Mar 2020Filed 15 Jul	Mar 2021Filed 12 Jun	Mar 2022Filed 20 Jun	Mar 2023Filed 29 May	Mar 2024Filed 30 Jul	Mar 2025Filed 12 Jun	Mar 2026Filed 22 May
Earnings per share	−₹33.06	−₹34.67	−₹38.38	−₹58.61	−₹23.08	−₹32.97	−₹12.91	−₹7.95	₹7.36	−₹8.59
Diluted earnings per share	−₹33.06	−₹34.67	−₹38.38	−₹58.61	−₹23.08	−₹32.97	−₹12.91	−₹7.95	₹7.36	−₹8.59
Dividend per share	₹1.00	₹0.50	–	–	–	–	–	–	–	–
Book value per share	–	–	₹338.73	₹276.00	₹253.20	₹141.49	₹153.05	₹144.97	₹152.67	₹144.20
Shareholder yield	–	–	–	–	0.0%	−34.5%	−41.2%	0.0%	0.0%	0.0%
Market cap at the year end (₹ crore)	72.0	64.2	60.1	28.3	44.8	72.0	58.0	79.3	95.3	74.6

Ratios

Consolidated, years to March.Shri Vasuprada Plantations PE ratio and valuation

Ratio	Mar 2018	Mar 2019Filed 16 May	Mar 2020Filed 15 Jul	Mar 2021Filed 12 Jun	Mar 2022Filed 20 Jun	Mar 2023Filed 29 May	Mar 2024Filed 30 Jul	Mar 2025Filed 12 Jun	Mar 2026Filed 22 May
Revenue growth	12.6%	−5.3%	−8.6%	16.0%	14.6%	−6.8%	−5.6%	23.0%	8.5%
Operating profit growth	–	–	–	–	−65.7%	–	–	–	−42.0%
	–	−11.5%	−19.1%	−8.7%	−13.3%	−8.9%	−5.4%	4.9%	−5.8%
	–	–	−7.6 pts	10.3 pts	−4.6 pts	4.5 pts	3.5 pts	10.3 pts	−10.7 pts
From the net margin	–	–	−7.4 pts	12.6 pts	−3.1 pts	2.9 pts	3.1 pts	9.4 pts	−10.3 pts
From asset turnover	–	–	1.7 pts	−0.9 pts	−1.6 pts	0.6 pts	0.1 pts	1.1 pts	−0.5 pts
From borrowing	–	–	−1.8 pts	−1.4 pts	0.1 pts	1.0 pts	0.2 pts	−0.2 pts	0.0 pts
Return on capital employed	–	−9.3%	−10.6%	−1.3%	−3.3%	−8.1%	−9.3%	−0.3%	−1.7%
Cash conversion	–	–	–	–	–	–	–	90.4%	–
Debt to equity	–	0.31	0.59	0.83	0.64	0.40	0.48	0.45	0.50
Receivable days	–	7	7	5	5	6	3	14	6
Inventory days	–	186	303	507	240	366	1,012	422	241
Payable days	–	78	128	106	50	85	124	54	39
Cash conversion cycle, days	–	115	183	406	195	288	891	383	208
Working capital days	–	−7	−8	30	27	29	47	53	39
Asset turnover	–	0.45	0.41	0.46	0.53	0.50	0.49	0.62	0.68
Assets per rupee of net worth	–	1.59	1.77	2.10	2.09	1.87	1.79	1.73	1.72
Sales per rupee of plant	–	0.67	0.62	0.72	0.83	0.91	0.86	1.07	1.16
Capital spending to depreciation	–	–	–	0.94	0.96	0.67	0.79	0.96	1.20
Plant being built, % of plant in use	–	4.2%	4.3%	3.1%	3.9%	4.1%	4.3%	5.6%	5.7%

Interest cover is left blank for the years to Mar 2018, Mar 2019, Mar 2020, Mar 2021, Mar 2022, Mar 2023, Mar 2024, Mar 2025 and Mar 2026: operating profit after depreciation is a loss, and a loss covers no interest bill. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year: −3.4%
Cash from operations against operating profit: 318.1%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	–	6.1%	8.0%
Return on equity, average	–	−5.7%	−2.1%
Return on capital employed, average	–	−4.5%	−3.8%
Operating margin, average	−3.3%	−1.4%	−0.5%
Net margin, average	−10.7%	−5.6%	−2.2%
Asset turnover, average	–	0.56	0.60
Cash conversion cycle, days, average	–	393	494
Debt to equity, average	–	0.50	0.48

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	15.8	7.6	10.8
Cash from investing	11.0	2.9	−7.2
Cash from financing	−26.9	−13.7	−4.2
Capital spending	32.8	19.8	7.8
Dividends paid	0.0	0.0	0.0
Shares bought back	0.0	0.0	0.0
Shares issued for cash	48.8	0.0	0.0
Borrowings raised	–	9.4	2.3
Borrowings repaid	57.9	5.4	0.4

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	6	4	5	3	6	4
Altman Z-scorePublished threshold 1.81	1.40	0.64	0.88	1.24	1.48	1.64	2.22	1.82
Beneish M-scorePublished threshold −1.78	–	–	−2.79	−2.83	−2.24	−3.12	0.83	−3.31
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	−0.14	−8.22	−10.03	−3.07	−0.24	−5.10
Receivables growth less revenue growthOur threshold 0 percentage points	–	7.26	−31.70	−5.96	27.50	−46.17	401.05	−65.52
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	40.66	71.13	−84.59	34.08	78.73	−144.10	−68.84
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	1.30	0.58	−0.39	−0.23	−0.23	1.20	0.82
Assets under construction, years of additionsOur threshold 2 years of additions	–	1.01	0.66	0.87	–	0.83	1.34	1.05
Effective tax ratePublished threshold 17.16 per cent	–	–	–	–	–	–	12.49	–
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	–	–	–	−14.90	–

A threshold marked as ours has no published figure; it is the line we read the check against.

Credit ratings

An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.

Date	Agency	Borrowing rated	Rating	Outlook	Amount, ₹ Cr
1 Jun 2026	Infomerics Valuation and Ratings Private Limited (opens in a new tab)	Long Term Facilities / Short Term FacilitiesLong-term scale	IVR BB & IVR A4Review, Re-affirm	Negative	50
23 Dec 2025	India Ratings and Research Private Limited (opens in a new tab)	Non-convertible debenturesLong-term scale	IND BBReview, UpgradeProposed	Stable	27
23 Dec 2025	India Ratings and Research Private Limited (opens in a new tab)	Preference SharesLong-term scale	IND BBReview, Upgrade	Stable	25
25 Aug 2025	Infomerics Valuation and Ratings Private Limited (opens in a new tab)	Long Term FacilitiesLong-term scale	IVR BBReview, Re-affirm	Stable	33
25 Aug 2025	Infomerics Valuation and Ratings Private Limited (opens in a new tab)	Short Term FacilitiesShort-term scale	IVR A4Review, Re-affirm		17

The latest rating on each borrowing. The agency's name opens its reasoning for the rating.