Vishnusurya Projects and InfraShare price, financial results, shareholding and management

NSE Emerge · VISHNUINFRAggregates and water EPCListed 10 Oct 2023
vishnusurya.com ↗Live price on NSE ↗ISIN INE0PQ001012 · Lot 500 shares · ₹75,850
₹151.70
+3.70% on the day
Close · 6 Nov 2026
Valuation
Market cap
₹393 cr
Stock P/E
11.1peers 17.9
Book value
₹90.3
Price to book
1.68
EV / operating profit
7.6
Market cap to sales
1.12
Returns and growth
ROCE · FY26
19.9%
ROE · FY26
18.1%
ROE, 3-year average
22.6%
Operating margin · FY26
16.0%peers 18.9%
Sales growth, 3 years
38.6%
Profit growth, 3 years
27.9%
Safety
Debt to equity
0.28peers 0.48
Borrowings
₹65 cr
Interest cover
6.2×
Cash from business / op. profit
57%
Debtor days
56
Pledged
25.43%
Ownership and share
Promoter holding
59.06%
Change in promoter holding
0.00 pts
Shareholders
1,364
52-week high / low
₹219 / ₹125
Dividend yield
Paid
Face value
₹10

Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.

Vishnusurya Projects and Infra share price chart

₹151.70+2.78% 1 year

Close on 6 Nov 2026 · +3.66% on the day · Vol 5,000

Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.

Share price returns

To the close of 6 Nov 2026

1 month
+7.3%
3 months
-1.6%
6 months
-11.3%
1 year
+2.8%
Traded a day, 20 days
₹0.09 cr
Taken for delivery
84%

Business growth

Sales and net profit, from the reported results

SalesProfit
FY26 on FY25+30%+21%
3 years, a year+39%+28%

About Vishnusurya Projects and Infra: business, products and customers

Vishnusurya Projects and Infra digs and crushes stone from its own quarries in Tamil Nadu to make building aggregates and manufactured sand, and builds water pipelines and other public works, often as a partner of larger contractors. Its shares trade on NSE Emerge.

The Chennai company, set up in 1996 and part of the Agni group, has two main businesses. Its three owned quarries at Aruppukottai, Vandavasi and the newer Hosur unit crush charnockite rock into blue metal and manufactured sand for road builders, concrete makers and cement companies, among them L&T, KNR Constructions, Adani Cement and Indian Cements. Because stone is heavy and cheap, being close to highways and concrete plants keeps freight low, and the company calls this a high-margin, cash-generating business.

The construction side builds water supply pipelines, desalination-linked works, lift irrigation, roads, railway and marine jobs, and since FY26 waste biomining and an industrial job at SAIL's Bokaro plant. This work is billed in stages as it is certified, so it ties up cash and earns thinner margins than the quarries; a year with more construction in the mix shows a lower overall margin. Much of the water work is won together with JWIL Infra, either in a consortium where Vishnusurya holds about 10%, or as a subcontractor.

Read more about the business

In the hybrid annuity water projects the company must also put equity into project companies, such as Tuticorin Desal, which is building a seawater desalination plant for SIPCOT and will run it for fifteen years. The company also owns about 1,27,500 square feet of office space under construction at Zamin Pallavaram in Chennai, which it plans to rent out.

From the annual report for FY26, the investor presentations of November 2025 and August 2026, the June 2026 earnings call transcript and the company's announcement of 31 August 2026.

Read the deeper study ↓

In its favour

  • Sales have grown fast: 39% a year over three years.
  • It has little debt for its size: debt to equity 0.28.
  • It paid a dividend in the past year.

To watch

  • Progress towards the FY27 revenue aim of about ₹450 cr (Earnings call, June 2026, p.10).
  • Conversion of deferred project awards into orders, flagged in August 2026 (Investor presentation, August 2026, p.4).
  • Construction of the Tuticorin desalination plant: six months of preparation and thirty months of building (Investor presentation, August 2026, p.13).
  • First rent from the Zamin Pallavaram office space, expected around April 2027 (Earnings call, June 2026, p.14).
  • The promoters' share has come down: 59.06%, from 62.24%.

From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.

Vishnusurya Projects and Infra revenue and profit growth

Half-yearly results · Profit and loss

Sales have grown fast. Last year profit grew more slowly than sales, so the profit kept from each rupee of sales slipped.

Sales and net profit, every year, ₹ crore
SalesNet profit
0100200300400Sales, FY20: 45 ₹ cr45Net profit, FY20: 2 ₹ cr2FY20Sales, FY21: 63 ₹ cr63Net profit, FY21: 4 ₹ cr4FY21Sales, FY22: 76 ₹ cr76Net profit, FY22: 8 ₹ cr8FY22Sales, FY23: 132 ₹ cr132Net profit, FY23: 17 ₹ cr17FY23Sales, FY24: 232 ₹ cr232Net profit, FY24: 28 ₹ cr28FY24Sales, FY25: 271 ₹ cr271Net profit, FY25: 29.4 ₹ cr29.4FY25Sales, FY26: 352 ₹ cr352Net profit, FY26: 35.6 ₹ cr35.6FY26
The latest halves, ₹ crore
SalesNet profit
050100150Sales, H2FY25: 132 ₹ cr132Net profit, H2FY25: 7.6 ₹ cr7.6H2FY25

SME companies report every six months.

Vishnusurya Projects and Infra half-yearly results

SME companies report every six months · ₹ crore

₹ crore · growth on the same half a year before
H2FY25
Sales131.50
Expenses114.10
Operating profit17.40
OPM13.2%
Interest3.64
Depreciation3.26
Profit before tax10.95
Net profit7.59

Vishnusurya Projects and Infra profit and loss

Full years to March, FY20 to FY26 · ₹ crore, consolidated where reported

₹ crore
FY20FY21FY22FY23FY24FY25FY26
Sales456376132232270.63351.72
Expenses395561100184221.02295.33
Operating profit6816324849.6256.40
OPM13.0%13.0%21.0%24.0%21.0%18.3%16.0%
Other income1020110.775.95
Interest332434.838.69
Depreciation224776.158.55
Profit before tax2330223939.4145.11
Tax rate0.0%-33.3%73.3%22.7%28.2%25.3%21.1%
Net profit248172829.4235.59
EPS ₹4.459.8419.1718.2511.213.0914.33
Dividend payout0.0%0.0%0.0%0.0%9.0%8.0%1.0%

The years to FY24 come rounded to the nearest crore in the source.

A tax rate above 60% or below zero (FY21, FY22) comes from tax charged on a small or negative profit, as reported.

Vishnusurya Projects and Infra profitability

Margins and returns on capital

Last year the company kept less from each rupee of sales than the year before. It earns a moderate return on the money it uses.

Operating margin, every year

Per cent of sales kept before interest, depreciation and tax

0%10%20%30%FY20: 13.0%13.0%FY20FY21: 13.0%13.0%FY21FY22: 21.0%21.0%FY22FY23: 24.0%24.0%FY23FY24: 21.0%21.0%FY24FY25: 18.3%18.3%FY25FY26: 16.0%16.0%FY26
Per cent
FY20FY21FY22FY23FY24FY25FY26
Operating margin13.0%13.0%21.0%24.0%21.0%18.3%16.0%
Tax rate0.0%-33.3%73.3%22.7%28.2%25.3%21.1%
ROCE·10.7%50.0%30.2%34.0%22.5%19.9%
ROE·12.1%21.1%34.0%29.3%20.3%18.1%
Dividend payout0.0%0.0%0.0%0.0%9.0%8.0%1.0%

Vishnusurya Projects and Infra debt and cash flow

Balance sheet · Cash flow · Working capital

The company's own money, its net worth, has grown fast. It cut its borrowings last year. Its loans are smaller than its own money. Last year the business brought in less cash than it showed as profit, so part of the profit is still to be collected. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.

Its own money and its borrowings, ₹ crore
Net worthBorrowings
0100200300Net worth, FY20: 31 ₹ cr31Borrowings, FY20: 30 ₹ cr30FY20Net worth, FY21: 35 ₹ cr35Borrowings, FY21: 16 ₹ cr16FY21Net worth, FY22: 41 ₹ cr41Borrowings, FY22: 36 ₹ cr36FY22Net worth, FY23: 59 ₹ cr59Borrowings, FY23: 36 ₹ cr36FY23Net worth, FY24: 132 ₹ cr132Borrowings, FY24: 20 ₹ cr20FY24Net worth, FY25: 158 ₹ cr158Borrowings, FY25: 82.6 ₹ cr82.6FY25Net worth, FY26: 234 ₹ cr234Borrowings, FY26: 65 ₹ cr65FY26
Cash from the business against net profit, ₹ crore
Cash from the businessNet profit
-2002040Cash from the business, FY20: 6 ₹ cr6Net profit, FY20: 2 ₹ cr2FY20Cash from the business, FY21: 22 ₹ cr22Net profit, FY21: 4 ₹ cr4FY21Cash from the business, FY22: -11 ₹ cr-11Net profit, FY22: 8 ₹ cr8FY22Cash from the business, FY23: 11 ₹ cr11Net profit, FY23: 17 ₹ cr17FY23Cash from the business, FY24: 2 ₹ cr2Net profit, FY24: 28 ₹ cr28FY24Cash from the business, FY25: 7.8 ₹ cr7.8Net profit, FY25: 29.4 ₹ cr29.4FY25Cash from the business, FY26: 32.4 ₹ cr32.4Net profit, FY26: 35.6 ₹ cr35.6FY26

Bars below the line are cash going out.

Vishnusurya Projects and Infra balance sheet

At each 31 March · ₹ crore

₹ crore
FY20FY21FY22FY23FY24FY25FY26
Equity capital44492524.6125.93
Reserves27313750107133.72208.19
Net worth31354159132158.33234.12
Borrowings301636362082.5665
Other liabilities194541263661.1867.78
Total liabilities8096118121188302.07366.90
Fixed assets202142474587.91115.31
Capital work in progress0021010.26
Investments332375258.7311.75
Other assets27526768141154.43239.58
Receivables·····43.9453.55
Inventory·····4.451.37
Cash·····10.9830.18
Trade payables·····21.1426.62

Vishnusurya Projects and Infra cash flow

₹ crore

₹ crore
FY20FY21FY22FY23FY24FY25FY26
Cash from operations622-111127.7932.39
Cash from investing-1-3-7-11-30-62.95-9.14
Cash from financing-4-1818-12855.53-4.13
Net cash flow110-100.3719.12
Capital spending·····55.3510.97

Working capital

Days

Days
FY20FY21FY22FY23FY24FY25FY26
Debtor days77324248255956
Cash conversion cycle77324248255956
Working capital days-89-84874574142

Vishnusurya Projects and Infra peers and competitors

Listed SME companies in the same industry

By sales, Vishnusurya Projects and Infra is number 1 of the 5 listed SME companies in other construction materials.

Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.

CompanyMarket cap ₹ crP/ESales ₹ crProfit ₹ crOp. marginDebt/equity
Vishnusurya Projects and Infra39311.135235.616.0%0.28
Om Galaxy30517.91241726.0%0.47
Mcon Rasayan India309.765.2311.7%0.50
Teamtech Formwork Solutions40533.7531233.0%0.52
Shiva Granito Export20-11.7-0.15.9%0.17
Median of the 4 others16817.959.17.518.9%0.48

Vishnusurya Projects and Infra shareholding pattern

Promoters, FIIs, DIIs, HNIs and small holders

The promoters own more than half the company, a little less than in the first filing shown. Big foreign and Indian funds own very little. The number of shareholders has come down.

Promoters
59.06%
-3.18 pts since Oct 23
Foreign investors (FIIs)
0.00%
at Jan 26; not in the latest pattern
Indian institutions (DIIs)
0.00%
-3.34 pts since Oct 23
HNIs (over ₹2 lakh each)
14.75%
+5.96 pts since Oct 23
Small holders (up to ₹2 lakh)
8.39%
-13.05 pts since Oct 23
Companies and others
17.80%
+13.97 pts since Oct 23
Number of shareholders
1,364
2,703 in Oct 23

Vishnusurya Projects and Infra shareholding pattern

Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.

Oct 23Mar 24Sep 24Mar 25Sep 25Jan 26Mar 26Jun 26
Promoters62.24%62.24%62.24%62.21%62.21%59.06%59.06%59.06%
Foreign investors (FIIs)0.36%0.00%0.02%0.01%-0.00%--
Indian institutions (DIIs)3.34%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
HNIs (over ₹2 lakh each)8.79%15.62%14.19%11.17%10.96%14.17%14.21%14.75%
Small holders (up to ₹2 lakh)21.44%7.15%8.09%8.97%10.04%8.88%8.88%8.39%
Companies and others3.83%14.99%15.46%17.64%16.79%17.89%17.85%17.80%
Number of shareholders2,7036721,1481,3841,5601,4241,4261,364

The named holders are at 30 June 2026, beside 31 March 2026, each under the group the pattern files them in.

Vishnusurya Projects and Infra study: the business from its own documents

Read from 10 of the company's own documents

Vishnusurya Projects and Infra so far

From the company's own record

  1. 10 Oct 2023Listed on NSE Emerge
  2. 30 June 2026Promoters at 59.06%
  3. 22 Aug 2024Highest close since listing, ₹326.58

Vishnusurya Projects and Infra key facts from the filings

Each figure with the document it comes from

Order book
₹358.0 cr
Work in hand at June 2026, down from ₹455.6 cr in March; water projects make up about 90% of it.Investor presentation, August 2026, p.17; Annual report FY26, p.84
Crushing capacity
About 37 lakh tonnes
Yearly crusher capacity across three quarries; FY26 output was about 17.3 lakh tonnes of blue metal and 3.4 lakh tonnes of M-sand.Annual report FY26, p.83; Investor presentation, August 2026, p.18
Quarry land
231 acres
Owned land at Aruppukottai (110), Vandavasi (42) and Hosur (79); management says all of it is held under sale deeds.Investor presentation, August 2026, p.18; Earnings call, June 2026, p.16; our arithmetic
Tuticorin desalination
₹220 cr share
The company's 10% of a ₹2,217 cr SIPCOT seawater plant built with JWIL Infra and IDE Technologies, with fifteen years of operation after building.Investor presentation, August 2026, p.13; Annual report FY26, p.83
Chennai pipeline order
₹103.1 cr
Turnkey pipelines from JWIL Infra for the 400 MLD Perur desalination plant, over seventeen months.Annual report FY26, p.83; Investor presentation, August 2026, p.14
Show 5 more facts
Margin in FY26
15.8%
EBITDA margin, down from 18.5% in FY25, put down to project mix, labour shortages, weather and input costs.Annual report FY26, p.84
Targets met in FY26
94% of revenue aim
The company reached about 94% of its revenue objective but only about 78% of its EBITDA and 80% of its profit aims.Annual report FY26, p.84
Preferential issue
₹26.1 cr
Raised in January 2026 from 13,15,867 shares and the upfront quarter on 7,31,998 warrants, all at ₹174.18.Annual report FY26, p.81 and p.85
Office building
1,27,500 sq ft
Space at Zamin Pallavaram, Chennai, about 80% built in June 2026; management expects first rent around April 2027.Earnings call, June 2026, p.14
Rights in Tuticorin Desal
₹2.8 cr
Board approved taking up 28,48,700 shares in the project company's rights issue in August 2026.Announcement, 31 August 2026, p.2

What the company said, and what happened

The company's own statements, attributed, set against what it later reported; not newboard's estimates

In June 2026 the company said it is working towards revenue of about ₹450 cr in FY27, with ₹180 cr to ₹190 cr from the quarries, ₹30 cr to ₹50 cr from waste management and the rest from construction, followed by 30% to 40% yearly growth. It expects at least ₹500 cr to ₹600 cr of new orders, about half through JWIL. In August 2026 it said some project awards and fund releases had been deferred but it still expects to meet its FY27 objectives. Its roadmap aims for more than ₹160 cr of aggregates revenue in FY27 and first office rent from April 2027.

₹450 crFY27 revenue aimJune 2026 call
₹263.9 crBids in pipelineJune 2026
What management saidWhenWhat happened
FY26 revenue, EBITDA and profit objectivesDuring FY26About 94% of the revenue aim, 78% of EBITDA and 80% of profit
FY26 capital spending of ₹6 cr to ₹7 crDuring FY26About ₹8.5 cr in the first half alone
FY26 order inflow objectiveDuring FY26₹296.5 cr, about 85% of it

Is it a good business? Six questions

Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.

Vishnusurya earns its better margins selling crushed stone and sand from its own quarries, and larger but thinner sales from building water and civil projects.

Its weak spots are dependence on one partner and one state for most construction work, slow government awards, and money tied up in project companies and property.

AverageCan it set its own prices?Its quarries near highways and concrete plants give it a local cost edge, but construction work is won by tender.
The evidence. The annual report credits the quarries' siting with a structural transport-cost advantage and a relatively high margin in that segment.Annual report FY26, p.83
AverageHow strong is it against rivals?Owned quarry land and machines set it apart from asset-light contractors, but in big water jobs it is a junior partner.
The evidence. The company holds about 10% in the Tuticorin and CMWSSB consortiums and owns more than 80 pieces of heavy equipment.Annual report FY26, p.82 to 83 and p.85
WatchWho are its customers?Most work in hand is Tamil Nadu water projects reached with or through JWIL Infra.
The evidence. Water infrastructure was about 89% of the March 2026 order book; management expects half its FY27 order flow to come with JWIL.Annual report FY26, p.84; Earnings call, June 2026, p.11
WatchDoes it need a lot of money?Quarries, machines, project company equity and an office building all need capital, and construction billing ties up cash.
The evidence. Raised ₹26.1 cr by preferential issue in January 2026; committed equity to project companies, including ₹2.8 cr in Tuticorin Desal's rights issue.Annual report FY26, p.85; Announcement, 31 August 2026, p.2
AverageCan it keep finding new work?It has a bid pipeline and partner work, but the order book shrank and some awards were deferred.
The evidence. Order book fell from ₹455.6 cr in March to ₹358.0 cr in June 2026, with ₹263.9 cr of bids pending; the CEO cited deferred awards and fund releases.Investor presentation, August 2026, p.4 and p.17
WatchDo good and bad years swing a lot?Rain, labour shortages and the timing of government awards can move a quarter or a year sharply.
The evidence. FY26 margin fell on project mix, labour shortages, weather and input costs; the March 2026 quarter's EBITDA margin was 3.6%.Annual report FY26, p.84; Investor presentation, August 2026, p.6

Who runs Vishnusurya Projects and Infra?

Promoters, directors and officers; tap a name for the background

BJBhavani JayaprakashPromoter and major shareholder · holds 57.67%

Named in the annual report as the major shareholder and promoter; rents premises to the company and receives rent and maintenance fees for them.

Annual report FY26, p.168 to 169; Shareholding pattern, June 2026
JVJ VishnuPromoter · holds 1.35%

Listed among the promoter holders in the shareholding pattern.

Shareholding pattern, June 2026
SKSanal Kumar VWhole-Time Director and Chief Executive Officer · holds 1.33%

A Chartered Accountant with more than 20 years in construction and infrastructure; leads business development and finance.

Investor presentation, August 2026, p.10; Annual report FY26, p.12 and p.168
ACArunachalam Charima ThangamWhole-Time Director

Heads the mining and production division, with about 25 years in quarry operations and machinery.

Investor presentation, August 2026, p.10; Annual report FY26, p.12
SNSubramanian NeelakantanNon-Executive Director

A Chartered Accountant with more than 30 years in audit, taxation and advisory work.

Investor presentation, August 2026, p.10; Annual report FY26, p.12
MSMaya Swaminathan SinhaIndependent Director

A former Indian Revenue Service officer with more than 28 years of experience; earlier Commissioner of KVIC and Deputy Chairman of JNPT, and founder of Clear Maze Consulting.

Investor presentation, November 2025, p.40; Annual report FY26, p.12
RNRitesh NairIndependent Director

More than 26 years in banking compliance, risk and credit at Citibank India, IFMR and Samunnati.

Investor presentation, November 2025, p.40; Annual report FY26, p.12

Vishnusurya Projects and Infra latest news and announcements

Announcements · Documents · Corporate actions

What changed recently

Each half-year is set against the same half a year earlier

  • Shareholding, 30 June 2026: promoters unchanged at 59.06%.

Vishnusurya Projects and Infra announcements

111 on record, latest first; each opens the filing on the exchange

Vishnusurya Projects and Infra annual reports, earnings calls and documents

Every document links to its source; “read” marks those this page is built from

Vishnusurya Projects and Infra share split, bonus and dividends

From the corporate actions the company announces on the exchange

  • DividendDIVIDEND - RE 1 PER SHAREex-date 18 Sept 2026
  • DividendDIVIDEND - RE 1 PER SHAREex-date 19 Sept 2025
  • DividendANNUAL GENERAL MEETING/DIVIDEND - RE 1 PER SHAREex-date 24 Sept 2024
  • DividendINTERIM DIVIDEND - RE 1 PER SHAREex-date 22 Nov 2023
Checks we ran on Vishnusurya Projects and Infra's data · 10

Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.

  • !The two halves of FY26 as reported add up to sales of ₹295.52 cr, the full year to ₹351.72 cr; one of the filings may have been restated.
  • ✓Balance sheet totals add up for FY25 and FY26.
  • ✓Market cap uses the share count in the latest shareholding pattern (2,59,25,538 shares).
  • ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
  • ✓Promoter pledge figures are within possible limits in every shareholding pattern shown.
  • ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
  • !The two half-years of FY26 add up to ₹295.5 cr of sales against ₹351.7 cr for the full year, so the half-years of FY26 are held back.
  • !Earnings per share changes basis between FY23 (₹18.25) and FY24 (₹11.21) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
  • ✓Revenue and profit are reported for every year shown, FY20 to FY26.
  • iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.

Questions people ask about Vishnusurya Projects and Infra

What does Vishnusurya Projects and Infra do?

Vishnusurya Projects and Infra digs and crushes stone from its own quarries in Tamil Nadu to make building aggregates and manufactured sand, and builds water pipelines and other public works, often as a partner of larger contractors. Its shares trade on NSE Emerge.

What is the share price of Vishnusurya Projects and Infra?

₹152 at the close on 6 Nov 2026, from the exchange's daily figures.

What is the market cap of Vishnusurya Projects and Infra?

₹393 cr at the close on 6 Nov 2026, on 2,59,25,538 shares.

What is the P/E of Vishnusurya Projects and Infra?

11.1 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).

What are Vishnusurya Projects and Infra's revenue and profit?

Revenue ₹352 cr and profit after tax ₹36 cr in FY26.

Who are the promoters of Vishnusurya Projects and Infra?

Bhavani Jayaprakash, J Vishnu; promoters held 59.06% at 30 June 2026.

What is Vishnusurya Projects and Infra's website?

www.vishnusurya.com

More SME companies like Vishnusurya Projects and Infra

Other listed SME companies in other construction materials, the closest in size first, each read from its own documents.

Every listed SME company in Other Construction Materials → · SME companies listed in 2023 →

Built from 3 earnings call transcripts, 3 investor presentations, 2 annual reports, 1 result filing, 1 press release, 111 exchange announcements, 8 shareholding patterns and 7 years of reported results. Every figure carries its source; where the documents are silent, the page says so.