Viram Suvarn Ltd

VSL

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Market Cap

₹ 62 Cr

P/E

13.16

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Performance

STEADY PERFORMER

Valuation

REASONABLE

Growth

STABLE

Profitability

HIGH MARGIN

Technicals

Bullish

Risk

LOW RISK

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Price

PE Ratio

Price

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Overview

Detailed Summary

Veeram Ornaments Limited is a wholesaler, trader, and retailer of branded jewelry and ornaments, focusing on gold and silver pieces.

The company offers a diverse portfolio of traditional, modern, and Indo-Western jewelry, catering to varied tastes across India.

Originally established as a TV network company, Veeram has pivoted and evolved into a jewelry business over time.

Veeram's products are primarily designed based on local market demands, particularly in Ahmedabad and surrounding regions.

The company focuses on quality, offering certified jewelry made with materials such as Kundan, gemstones, American diamonds, and plain metals.

Sector

Diamond, Gems and Jewellery

Industry

Diamond Cutting / Jewellery - Medium / Small

Market Cap

62 Cr

Volatility

Low Risk

P/E Ratio

13.2

Industry P/E

22.8

PEG Ratio

0.3

P/B Ratio

2.1

52W High

11.20

52W Low

7.56

Sales CAGR

36.99%

12.22%

5.82%

10Y

38.94%

Profit CAGR

38.62%

-5.07%

25.55%

10Y

51.36%

ROE

TTM

15.78%

11.44%

14.62%

10Y

11.86%

ROCE

TTM

20.99%

15.12%

18.32%

10Y

14.82%

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
MISHKA	45.02	65 Cr	80.36	2.84	0.00	3.54	4.66	2.88
SWARNSAR	30.16	63 Cr	5.63	0.44	0.00	7.82	10.31	4.75
VSL	8.22	62 Cr	13.16	2.07	0.61	15.78	20.99	14.48
RETAGGIO	36.86	57 Cr	23.63	1.57	0.00	12.80	13.22	8.85
SJCORP	65.00	54 Cr	382.35	6.24	0.00	1.61	1.37	1.60
AJCJEWEL	85.00	52 Cr	17.92	1.72	0.00	13.74	12.07	5.95
MANOJJEWEL	50.94	46 Cr	9.61	1.49	0.00	22.99	30.65	18.28

Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	4.52	3.39	14	5.75	8.17	5.21	3.71	6.55	5.28	6.48
Expenses	3.92	3.27	12	3.79	7.30	4.92	3.09	6.65	3.47	4.33
Operating Profit	0.60	0.12	1.15	1.96	0.87	0.29	0.62	-0.10	1.81	2.15
OPM %	13.27	3.54	8.47	34.09	10.65	5.57	16.71	-1.53	34.28	33.18
Other Income	0.03	0.55	0.67	-0.47	0.44	0.62	0.31	1.47	0.00	0.00
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depreciation	0.01	0.01	0.01	-0.01	0.00	0.00	0.00	0.01	0.00	0.00
Profit Before Tax	0.63	0.66	1.81	1.49	1.31	0.91	0.92	1.36	1.81	2.15
Tax %	12.70	22.73	17.68	34.90	22.90	21.98	21.74	29.41	22.10	25.58
Net Profit	0.55	0.51	1.49	0.98	1.01	0.71	0.72	0.97	1.41	1.60
EPS in Rs	0.07	0.10	0.06	0.13	0.13	0.09	0.09	0.13	0.19	0.21

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	7.42	28	16	20	21	19	19	19	26	21
Expenses	7.14	27	15	20	18	16	16	16	22	18
Operating Profit	0.28	0.80	0.27	0.39	2.09	2.74	2.20	3.13	4.52	2.62
OPM %	3.82	2.88	1.75	1.95	10.19	14.62	11.79	16.18	17.06	12.63
Other Income	0.12	0.27	0.23	1.07	1.71	1.77	0.17	0.19	0.00	NaN
Interest	0.00	0.00	0.00	0.00	0.03	0.00	0.00	0.00	0.00	0.00
Depreciation	0.01	0.09	0.09	0.06	0.14	0.03	0.05	0.02	0.01	0.01
Profit Before Tax	0.40	0.98	0.42	1.39	3.62	4.49	2.32	3.30	4.51	5.00
Tax %	25.29	25.77	26.66	21.54	19.14	11.15	22.85	25.32	24.35	23.80
Net Profit	0.30	0.73	0.31	1.09	2.93	3.99	1.79	2.46	3.41	3.81
EPS in Rs	—	—	—	—	—	0.58	0.37	0.36	0.44	0.62
Dividend Payout %	36.23	29.59	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	0.34	4.31	4.31	4.31	4.31	10	10	15	15	15
Reserves	2.75	4.95	5.68	6.09	7.19	4.29	8.29	4.47	6.93	10
Borrowings	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Liabilities	0.02	1.31	2.95	6.79	9.44	0.72	0.10	0.75	0.93	1.80
Total Liabilities	3.12	11	13	17	21	15	18	20	23	27
Fixed Assets	0.03	0.02	0.02	0.02	5.32	2.27	10	11	11	11
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.19	2.65	4.06	3.41	0.49	0.29	0.00	0.00	2.00
Other Assets	3.09	10	10	13	12	12	7.80	9.36	12	14
Total Assets	3.12	11	13	17	21	15	18	20	23	27

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-2.96	-4.88	4.56	2.88	0.96	-9.68	3.92	0.59	-0.12	5.21
Cash from Investing Activity	0.01	-0.07	-2.20	-1.18	-3.72	9.19	-5.63	-0.46	0.19	-5.09
Cash from Financing Activity	2.99	6.66	-0.80	0.73	-0.74	-0.09	-0.00	-0.00	-0.00	-0.17
Net Cash Flow	0.03	1.71	1.56	2.43	-3.50	-0.58	-1.71	0.12	0.07	-0.04

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	53.77%	53.77%	53.77%	53.77%	53.77%	53.77%	53.77%	53.77%	55.00%	55.24%	55.24%	55.34%
FIIs	0.50%	0.50%	0.50%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DIIs	-0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	45.73%	45.73%	45.73%	46.23%	46.23%	46.23%	46.23%	46.23%	45.00%	44.76%	44.76%	44.66%
Total Shareholders	25,980	24,509	23,655	32,339	35,777	35,335	36,658	45,669	47,608	50,493	48,796	47,515

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Dec 06, 2025	Veeram vendors private limited	Insider - Promoter Group	Acquisition	8.80	0.22 Cr	2,44,795	0.32
Dec 03, 2025	Veeram vendors private limited	Insider - Promoter Group	Acquisition	8.36	0.19 Cr	2,26,373	0.29
Mar 11, 2025	Veeram vendors private limited	Insider - Promoter Group	Acquisition	9.59	0.18 Cr	1,84,422	0.24
Dec 18, 2024	Veeram vendors private limited	Insider - Promoter Group	Acquisition	10.39	0.52 Cr	5,02,557	0.66
Dec 09, 2024	Veeram vendors private limited	Insider - Promoter Group	Acquisition	10.01	0.17 Cr	1,68,989	0.22
Dec 05, 2024	Veeram vendors private limited	Insider - Promoter Group	Acquisition	9.47	0.25 Cr	2,60,343	0.34
Sep 18, 2024	Vivid mercantile limited .	Bulk	Sell	12.61	1.00 Cr	7,93,503	1.04
Sep 12, 2024	Vivid mercantile limited .	Bulk	Sell	13.87	1.35 Cr	9,76,620	1.29
Sep 12, 2024	Riddhi traders	Bulk	Sell	13.37	0.72 Cr	5,35,642	0.70
Sep 12, 2024	Riddhi traders	Bulk	Buy	13.41	0.67 Cr	5,00,642	0.66

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

Sentiment

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Documents

Presentations

Concalls

Reports

Presentations

No documents found!

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Oscillators

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Moving Averages

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Bullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
MISHKA	45.02	65 Cr	80.36	2.84	0.00	3.54	4.66	2.88
SWARNSAR	30.16	63 Cr	5.63	0.44	0.00	7.82	10.31	4.75
VSL	8.22	62 Cr	13.16	2.07	0.61	15.78	20.99	14.48
RETAGGIO	36.86	57 Cr	23.63	1.57	0.00	12.80	13.22	8.85
SJCORP	65.00	54 Cr	382.35	6.24	0.00	1.61	1.37	1.60
AJCJEWEL	85.00	52 Cr	17.92	1.72	0.00	13.74	12.07	5.95
MANOJJEWEL	50.94	46 Cr	9.61	1.49	0.00	22.99	30.65	18.28

Overview

Detailed Summary

Veeram Ornaments Limited is a wholesaler, trader, and retailer of branded jewelry and ornaments, focusing on gold and silver pieces.

The company offers a diverse portfolio of traditional, modern, and Indo-Western jewelry, catering to varied tastes across India.

Originally established as a TV network company, Veeram has pivoted and evolved into a jewelry business over time.

Veeram's products are primarily designed based on local market demands, particularly in Ahmedabad and surrounding regions.

The company focuses on quality, offering certified jewelry made with materials such as Kundan, gemstones, American diamonds, and plain metals.

Sector

Diamond, Gems and Jewellery

Industry

Diamond Cutting / Jewellery - Medium / Small

Market Cap

62 Cr

Volatility

Low Risk

P/E Ratio

13.2

Industry P/E

22.8

PEG Ratio

0.3

P/B Ratio

2.1

52W High

11.20

52W Low

7.56

Sales CAGR

36.99%

12.22%

5.82%

10Y

38.94%

Profit CAGR

38.62%

-5.07%

25.55%

10Y

51.36%

ROE

TTM

15.78%

11.44%

14.62%

10Y

11.86%

ROCE

TTM

20.99%

15.12%

18.32%

10Y

14.82%

Veeram Securities Ltd

Viram Suvarn Ltd

VSL

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Investment Checklist

Investment Checklist

Overview

Sector

Industry

Market Cap

Volatility

P/E Ratio

Industry P/E

PEG Ratio

P/B Ratio

52W High

52W Low

Technicals

Forecasts

Peers

Price Chart Comparison

Financial Statements

AI Powered Summary

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Standalone Quarterly Results (in ₹ Crores)

Standalone Profit Loss (in ₹ Crores)

Standalone Balance Sheet (in ₹ Crores)

Standalone Cash Flows (in ₹ Crores)

Shareholdings

Shareholding History

Market Transactions

Projection

Actions

Announcements

Documents

AI Mode

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Technicals

Forecasts

Projection

Oscillators

Neutral

Overall

Bullish

Moving Averages

Bullish

Overall

Bullish

Viram Suvarn Ltd

VSL

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Peers

Price Chart Comparison

Overview

Sector

Industry

Market Cap

Volatility

P/E Ratio

Industry P/E

PEG Ratio

P/B Ratio

52W High

52W Low

Investment Checklist

Announcements