VK Global Industries Limited

Industrials — Specialty Business Services · BSE

₹28.89₹0.00 (0.00%)

DalalBaazaar Score

56 / 100

🟡 Moderate

Verdict

CAUTION

Risk

High

Driven by negative free cash flow, micro-cap size, which brings thin liquidity, a very high earnings multiple, which leaves little margin for disappointment.

In simple words: The business is earning a fairly low return on the money invested in it, with both sales and profits growing well. Cash generation is currently the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 6:09 pm

Caution warranted. Multiple fundamental metrics — flagged in red below — point to either valuation stretch, leverage risk, or weakening profitability. This doesn't mean avoid the stock outright, but it does mean the burden of proof is on the growth story to justify the current price.

Understanding the Business

Company site ↗

The 60-second version of VK Global Industries Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

VK Global Industries Limited produces and sells hydroponic farming business in India. The company grows green and leafy vegetables, and other agricultural products.

IndustrySpecialty Business Services

SectorIndustrials

Employees9

Annual revenue₹1 Cr

How does it make money?

Turns over ₹1 Cr a year. Of every ₹100 of sales, about ₹10 reaches shareholders as profit, with ₹19 left at the operating level before interest, tax and depreciation. Each of its 9 employees supports ₹11.0 lakh of revenue a year, the signature of a people-led business.

EBITDA margin18.6%

Net margin10.0%

Revenue / employee₹11.0 lakh

Who are its competitors?

The closest listed comparisons in its industry are LARSEN & TOUBRO LTD., SIEMENS LTD, ABB INDIA LIMITED. These are the companies its valuation and returns are measured against elsewhere in this report.

LARSEN & TOUBRO LTD.P/E 30.1x · ROE 15.2%

SIEMENS LTDP/E 88.8x · ROE 10.5%

ABB INDIA LIMITEDP/E 92.6x · ROE 19.1%

What is its competitive advantage?Little sign of one

Returns on capital of 4.0% are at or below what the capital likely costs. That is the financial pattern of a business competing largely on price, where advantage has to come from execution rather than position.

ROCE4.0%

ROE6.7%

Peer median ROE15.2%

DalalBaazaar Score

56/ 100

Moderate

Weighted across six categories. Every point is explained below.

✗ P/E of 56.6x is demanding — it needs sustained high growth to justify

Quality vs. Valuation

Company Quality

62/ 100

Average

How good the business is, ignoring the share price entirely.

Valuation

51/ 100

Fair

What you are being asked to pay, ignoring how good the business is.

A reasonable business at a reasonable price — neither the quality nor the valuation stands out in either direction.

Historical Valuation

Current P/E

56.6x

Sector Median

88.8x

median of 3 sector peers

🟢Against its sector it trades 36% below the peer median of 88.8x.

vs. its own history

Not enough price and earnings history

vs. sector peers

Cheap

88.8x median of 3 peers · -36%

vs. generic bands

Expensive

Above 35x

P/E (Trailing)

56.6x

P/B

3.34x

EV/EBITDA

65.1x

PEG

—

Dividend Yield

None

What's Good / What's Bad

🟢 What's Going Well2

Return on equity is rising
ROE has improved from -2.9% to 3.0%.
Return on capital is rising
ROCE has improved from -2.6% to 4.0%.

🔴 What Needs Attention1

Free cash flow is negative
The business is not currently covering its capital spending from operations.

Red Flags

1 item require attention · 1 high

🔴Free cash flow negative for 3 yearsFinancial
The business has not covered its capital spending from operations for several years running, which has to be funded externally.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Cheaper than its peers
It trades 36% below the sector median. Either the market sees a problem the numbers do not show, or the discount closes.

🔴 Bear CaseWhat could go wrong?

Earnings are hard to forecast
Profit has swung sharply from year to year, so any single year — good or bad — is a weak guide to the next. Cyclical earnings deserve lower multiples for that reason.
Size brings its own risk
Micro Cap businesses are thinly traded, so exits are harder in a falling market and single events move the price more than they would for a larger company.

🟡 Key Things to WatchMeasurable tripwires, set against where this company stands today

1EBITDA margin holds above 17%✓ 18.6%
Two points below today's level — enough room for noise, tight enough to catch real compression.
2Free cash flow remains positive✗ -₹1 Cr
Profit that never becomes cash eventually stops being profit.
3ROCE stays above 8%✗ 4.0%
Falling returns on capital are usually competition arriving, and show up here before they reach the margin.

Investment Checklist

6 / 10 checks passed

✗ Strong return on equity (ROE ≥ 15%)
✗ Strong return on capital employed (ROCE ≥ 15%)
✓ Healthy net margin (≥ 10%)
✗ Generates positive free cash flow
✓ Adequate short-term liquidity (Current Ratio ≥ 1.0)
✓ Revenue growing year-over-year
✓ Profit growing year-over-year
✗ Not trading at an extreme valuation (P/E < 40x)
✓ Not buying right at the 52-week high
✓ Short-term technical trend isn't bearish

Price history

Quick Metrics

3 good · 4 neutral · 4 weak

Market Cap

₹12 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

56.6x

Expensive

Expensive — verify against sector peers

P/B Ratio

3.34x

Fair

Moderate premium to the company's book value

EPS (TTM)

₹0.51

Profitable

Profitable on a per-share basis

ROE

6.7%

Weak

Weak capital efficiency

ROCE

4.0%

Weak

Low return on total capital employed

Debt/Equity

Not available

No data

Source didn't return this field

Revenue Growth (YoY)

68.6%

Healthy

Healthy top-line growth

Profit Growth (YoY)

122.9%

Healthy

Profits growing at a healthy clip

Dividend Yield

None

No dividend yield reported — usually means no payout, but verify if one was recently initiated

Free Cash Flow

-₹1 Cr

Cash burning

Spending more cash than the operations bring in

More Metrics

CMP

₹28.89

ROA

3.0%

Average

Average asset productivity

Operating Margin

2.5%

Weak

Thin margins leave little room for error

Net Margin

19.5%

Good

Strong bottom-line conversion

Current Ratio

29.40

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

-0.58

Defensive

Steadier than the market

52W Range Position

61%

Mid-range

Technical Snapshot

SMA 20 / SMA 50

32.0 / 26.5

Bullish alignment (short > long)

Price vs SMA 200

Above

Long-term uptrend

RSI (14)

36.9

Neutral momentum

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	—	—	₹0 Cr	₹1 Cr	—
EBITDA	-₹0 Cr	-₹0 Cr	-₹0 Cr	₹0 Cr	—
EBITDA Margin	—	—	-748.8%	18.6%	—
PAT (Net Profit)	-₹0 Cr	-₹0 Cr	-₹0 Cr	₹0 Cr	—
EPS	₹-0.27	₹-0.84	₹-1.02	₹0.23	—
ROE	-2.9%	-9.8%	-13.4%	3.0%	—
ROCE	-2.6%	-9.8%	-12.7%	4.0%	—
Free Cash Flow	₹2 Cr	-₹0 Cr	-₹1 Cr	-₹1 Cr	—

🟢 EBITDA has turned positive, from -₹0 Cr to ₹0 Cr.

🟢 EBITDA Margin has risen from -748.8% to 18.6% over 3 years (+767.4 pts).

🟢 PAT (Net Profit) has turned positive, from -₹0 Cr to ₹0 Cr.

🟢 EPS has turned positive, from ₹-0.27 to ₹0.23.

🟢 ROE has risen from -2.9% to 3.0% over 3 years (+5.9 pts).

🟢 ROCE has risen from -2.6% to 4.0% over 3 years (+6.6 pts).

🔴 Free Cash Flow has turned negative, from ₹2 Cr to -₹1 Cr.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹3 Cr

Total Liabilities

₹0 Cr

Total Debt

—

Cash & Equivalents

₹0 Cr

Operating Cash Flow

₹0 Cr

Capex

-₹1 Cr

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

64.9%

Peer Comparison

Company	P/E	ROE
LARSEN & TOUBRO LTD.	30.1x	15.2%
SIEMENS LTD	88.8x	10.5%
ABB INDIA LIMITED	92.6x	19.1%

Recent News

1 mixed5 general

VK Global Industries closes trading window ahead of Q2FY27 results

scanx.trade, 26 SeptResults

🟡Mixed / dependsA results event. The figures on this page update once the new statements reach the data feed, which usually lags the announcement.

VK Global Industries turns profitable in FY26 with ₹9.91 lakh PAT

scanx.trade, 22 Sept

VK Global Industries Limited Share Price

Upstox, 07 May

Stock markets climb in early trade on buying in blue-chips

The New Indian Express, 10 Jun

Apollo Micro Systems forms Shauryastra defence tech associate

scanx.trade, 22 Aug

Stock market today: Nifty50 nears 26,000 mark; BSE Sensex opens over 100 points up

The Times of India, 11 Feb

Watch Items

Cross-check against the company's latest quarterly filing / investor presentation before acting.
1 metric couldn't be retrieved for this stock — this is more common for smaller or thinly-covered listings.

DalalBaazaar Thesis

🟢Business QualityStrong13/20

🟢Financial HealthStrong13.2/20

🟡GrowthModest10/20

🟢ProfitabilityStrong10/15

🔴ValuationDemanding5.7/15

🔴RiskHigh4/10

Unremarkable in both directions

A reasonable business at a reasonable price. Nothing here is alarming and nothing is compelling, which usually means the decision rests on things this data cannot see — the industry's direction, management's intent, and what else is available to you. 1 high-severity red flag sits above this conclusion and should be read first.

This thesis breaks if

✓EBITDA margin holds above 17%18.6%
✗Free cash flow remains positive-₹1 Cr
✗ROCE stays above 8%4.0%