Vaswani Industries Limited (VASWANI) AI Stock Analysis

Vaswani Industries Limited

(NSE:VASWANI)

Select Model

Rating:44Neutral

Price Target:INR 38.00▼(-2.96% Downside)

Action:reiterated

Date:08/18/26

The score is held down primarily by weakening financial quality—especially the sharp deterioration in cash flow and the jump in leverage—despite revenue growth. Technicals add further pressure as the stock trades below major moving averages with a negative MACD. Valuation provides only limited support given the high P/E and no dividend yield data.

Positive Factors

Revenue GrowthThe 12.1% annual revenue increase indicates continued demand for the company’s steel products and improving top-line momentum after a mixed prior trajectory. Sustained sales growth can support better capacity utilization and provide a durable base for future operating improvement.

Negative Factors

Higher LeverageThe sharp increase in borrowing raises financial risk for Vaswani’s cyclical steel business and reduces balance-sheet flexibility. Higher leverage can increase financing burdens, constrain future investment choices, and make the company more vulnerable when steel demand or margins weaken.

Vaswani Industries Limited (VASWANI) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 1.30B
Dividend Yield: ―
Average Volume (3M): 8,300
Price to Earnings (P/E): 979.0
Beta (1Y): 0.85
Revenue Growth: 8.45%
EPS Growth: -99.70%
Country: India
Employees: 335
Sector: General
Sector Strength: 55
Industry: Steel

Vaswani Industries Limited Business Overview & Revenue Model

Company Description

Operating from Raipur, India, Vaswani Industries Limited, established in 2003, engages in the production and commercialization of a diverse range of iron and steel products across India, including iron ore pellets, sponge iron, steel billets, HB wire...

How the Company Makes Money

VASWANI primarily makes money by manufacturing and selling steel products. Revenue is generated from (1) sales of finished steel goods (typically long products used in construction and infrastructure), sold to customers such as traders/distributors a...

Vaswani Industries Limited Financial Statement Overview

Summary

Despite +12.1% revenue growth and improved operating profitability in 2026, overall financial quality weakened: net income fell sharply (42.4M vs 86.0M), leverage increased materially (debt up to 2.77B from 1.56B), and cash generation deteriorated with operating cash flow collapsing (7.6M vs 343.6M) and deeply negative free cash flow (-2.31B).

Income Statement

58Neutral

Balance Sheet

34Negative

Cash Flow

22Negative

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	4.71B	4.67B	4.12B	3.89B	3.92B	3.74B
Gross Profit	946.75M	993.24M	667.29M	285.81M	272.57M	351.00M
EBITDA	449.05M	409.42M	255.56M	218.50M	214.21M	181.21M
Net Income	-627.00K	42.44M	86.04M	90.33M	60.11M	44.23M
Balance Sheet
Total Assets	0	5.08B	3.62B	1.89B	2.01B	2.17B
Cash, Cash Equivalents and Short-Term Investments	162.42M	162.42M	450.63M	2.16M	12.29M	9.58M
Total Debt	0	2.77B	1.56B	328.79M	358.48M	528.61M
Total Liabilities	-1.50B	3.58B	2.24B	671.66M	884.71M	1.10B
Stockholders Equity	1.50B	1.50B	1.37B	1.22B	1.13B	1.07B
Cash Flow
Free Cash Flow	-1.49B	-2.31B	-1.02B	220.65M	291.50M	-19.07M
Operating Cash Flow	107.99M	7.63M	343.61M	307.01M	299.30M	-891.00K
Investing Cash Flow	-1.46B	-1.58B	-1.34B	-93.56M	-8.12M	-17.26M
Financing Cash Flow	1.11B	1.29B	1.22B	-106.77M	-255.64M	23.46M

Vaswani Industries Limited Technical Analysis

Technical Analysis SentimentNegative

Last Price39.16

Price Trends

50DMA44.89Negative

100DMA49.58Negative

200DMA52.72Negative

Market Momentum

MACD-1.38Positive

RSI34.37Neutral

STOCH12.21Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:VASWANI, the sentiment is Negative. The current price of 39.16 is below the 20-day moving average (MA) of 42.45, below the 50-day MA of 44.89, and below the 200-day MA of 52.72, indicating a bearish trend. The MACD of -1.38 indicates Positive momentum. The RSI at 34.37 is Neutral, neither overbought nor oversold. The STOCH value of 12.21 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:VASWANI.

Vaswani Industries Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:VASWANI against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:PRAKASHSTL	57Neutral	INR 563.50M	93.52	―	―	19.54%	-60.99%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:SALSTEEL	47Neutral	INR 11.33B	60.71	―	―	-70.23%	―
IN:ZENITHSTL	45Neutral	INR 695.75M	17.63	―	―	-61.73%	29.57%
IN:VSTL	44Neutral	INR 1.83B	24.11	―	―	20.90%	-36.24%
IN:VASWANI	44Neutral	INR 1.29B	979.00	―	―	8.45%	-99.70%
IN:SHYAMCENT	42Neutral	INR 995.09M	-16.71	―	―	-91.67%	44.09%

* General Sector Average

Performance Comparison

IN:VASWANI and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:VASWANI	Vaswani Industries Limited	39.16	-23.66	-37.66%
IN:PRAKASHSTL	Prakash Steelage Limited	3.22	-1.82	-36.11%
IN:SALSTEEL	S.A.L. Steel Ltd.	78.29	38.67	97.60%
IN:SHYAMCENT	Shyam Century Ferrous Ltd.	4.69	-2.14	-31.33%
IN:VSTL	Vibhor Steel Tubes Ltd.	96.50	-46.80	-32.66%
IN:ZENITHSTL	Zenith Steel Pipes & Industries Limited	4.89	-3.90	-44.37%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Aug 18, 2026

Vaswani Industries Limited AI Stock Analysis