Vedant Fashions Ltd - Stock Valuation and Financial Performance

BSE: 543463 | NSE: MANYAVAR | Textile | Mid Cap

Vedant Fashions Share Price

921.05 7.90 0.87%
as on 12-Apr'24 10:20

DeciZen - make an informed investing decision on Vedant Fashions

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Semi Strong

Vedant Fashions stock performance -

mw4me loader
P/E Ratio (SA):
54.79
Market Cap:
22,249.3 Cr.
52-wk low:
886.1
52-wk high:
1,481.4

Is Vedant Fashions Ltd an attractive stock to invest in?

1. Is Vedant Fashions Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Vedant Fashions Ltd is a good quality company.

2. Is Vedant Fashions Ltd undervalued or overvalued?

The key valuation ratios of Vedant Fashions Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Vedant Fashions Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Vedant Fashions Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Vedant Fashions:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Vedant Fashions Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 24.2%27.1%39.9%36.6%28.3%22.3%26.1%13.3%29.2%35.3%-
Value Creation
Index
1.21.42.62.31.51.01.30.21.62.1-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 04135045967597949155421,0091,3261,339
Sales YoY Gr.-NA22.1%18.3%27.2%4.7%15.2%-40.7%86%31.5%-
Adj EPS 10.311.918.922.15.879.55.112.417.216.7
YoY Gr.-14.9%59.1%17%-73.7%21.2%35.5%-46.2%140.9%38.9%-
BVPS (₹) 2933.149.169.430.635.54344.244.557.261.1
Adj Net
Profit
4956.489.6105145176239127300417406
Cash Flow from Ops. 69.110085.836.951.8179241253341459-
Debt/CF from Ops. 1.50.60.30.20.300000-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales NA11.8%13.2%31.5%
Adj EPS 5.8%24.2%21.6%38.9%
BVPS7.8%13.3%10%28.5%
Share Price - - - -25.5%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
43.438.34637.328.122.124.311.727.533.628.3
Op. Profit
Mgn %
024.829.829.130.834.543.543.347.649.648.4
Net Profit
Mgn %
013.717.817.619.222.226.123.429.831.430.3
Debt to
Equity
0.80.40.10000000-
Working Cap
Days
0198162179196243249571411377212
Cash Conv.
Cycle
010593107135147150277145124151

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 28.30%

Sales growth is growing at healthy rate in last 3 years 13.16%

Net Profit is growing at healthy rate in last 3 years 21.64%

Sales growth is not so good in last 4 quarters at 3.61%

Latest Financials - Vedant Fashions Ltd.

Standalone Consolidated
TTM EPS (₹) 16.7 16.8
TTM Sales (₹ Cr.) 1,339 1,346
BVPS (₹.) 61.1 61.3
Reserves (₹ Cr.) 1,459 1,463
P/BV 15.00 14.96
PE 54.79 54.63
From the Market
52 Week Low / High (₹) 886.05 / 1481.35
All Time Low / High (₹) 793.15 / 1501.00
Market Cap (₹ Cr.) 22,249
Equity (₹ Cr.) 24.3
Face Value (₹) 1
Industry PE 29

Management X-Ray of Vedant Fashions:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Vedant Fashions

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales04135045967597949155421,0091,326
Operating Expenses 0311354423525521517307528668
Manufacturing Costs0536866971825297111
Material Costs08992134233210241132249331
Employee Cost 0266935484651375655
Other Costs 014312424917519314386126171
Operating Profit 0102150174234274398235480658
Operating Profit Margin (%) -24.7%29.8%29.1%30.8%34.5%43.5%43.3%47.6%49.6%
Other Income 74123101932584937
Interest 08656425252730
Depreciation 097810882898897
Exceptional Items 0000000000
Profit Before Tax 7486139164229280323178414567
Tax 2530495879987848105144
Profit After Tax 495690106149182245131308423
PAT Margin (%) -13.7%17.9%17.8%19.7%23.0%26.8%24.1%30.6%31.9%
Adjusted EPS (₹)10.311.919.022.46.57.39.85.312.717.4
Dividend Payout Ratio (%)0%55%13%0%0%0%0%0%39%52%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 1381572333297078901,0761,0961,0801,387
Share Capital 12121212232525252424
Reserves 1261452213176838651,0511,0711,0561,363
Minority Interest0000000000
Debt101582291300000
Long Term Debt19000000000
Short Term Debt81582291300000
Trade Payables16253234436049486885
Others Liabilities 4765761111781974668931,1171,349
Total Liabilities 3013053624829401,1471,5912,0372,2652,820

Fixed Assets

Gross Block56130131171330273582627752864
Accumulated Depreciation132127291420100181257347
Net Fixed Assets43109104141316252482446495518
CWIP 0035120002
Investments 0000138195371553524793
Inventories837086978890115100141173
Trade Receivables7383107189322337391366395473
Cash Equivalents 3221511969738
Others Assets9942604971152161565706854
Total Assets 3013053624829401,1471,5912,0372,2652,820

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 69100863752179241253341459
PBT 7486139164229280323178414567
Adjustment 171712116-580607594
Changes in Working Capital 327-20-74-111-1-8748-41-56
Tax Paid -26-29-45-64-72-95-75-34-107-145
Cash Flow From Investing Activity -87-17-24-22-279-165-96-9062-228
Capex -88-17-24-22-146-6-211115
Net Investments 0001-135-160-88-11242-244
Others 001020-611911
Cash Flow From Financing Activity 19-85-62-16224-13-138-165-406-226
Net Proceeds from Shares 000022500051
Net Proceeds from Borrowing 13-2300000000
Interest Paid -120-5-3-40-20-20-21-23
Dividend Paid 0-31-120-10000-121
Others 18-31-45-134-13-118-145-390-83
Net Cash Flow 1-200-417-2-35
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)43.3538.2946.2337.7228.8522.8324.9312.0428.3534.28
ROCE (%)36.7341.261.7456.9944.3835.3235.3618.7140.3848.19
Asset Turnover Ratio01.361.511.421.070.760.670.30.470.52
PAT to CFO Conversion(x)1.411.790.960.350.350.980.981.931.111.09
Working Capital Days
Receivable Days0696990123151145255138119
Inventory Days0685656444141724443
Payable Days085113906089821338584

Vedant Fashions Ltd Stock News

Vedant Fashions Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Vedant Fashions on 12-Apr-2024 10:20 is ₹921.0.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 12-Apr-2024 10:20 the market cap of Vedant Fashions stood at ₹22,249.3.
The latest P/E ratio of Vedant Fashions as of 12-Apr-2024 10:20 is 54.79.
The latest P/B ratio of Vedant Fashions as of 12-Apr-2024 10:20 is 15.00.
The 52-week high of Vedant Fashions is ₹1,481.4 and the 52-week low is ₹886.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Vedant Fashions is ₹1,339 ( Cr.) .

About Vedant Fashions Ltd

Vedant Fashions is the largest company in India in the men’s Indian wedding and celebration wear segment. The company’s ‘Manyavar’ brand is a category leader in the branded Indian wedding and celebration wear market with a pan India presence, as of Financial Year 2020. It has established a multi-channel network and introduced brands by identifying gaps in the under-served and high-growth Indian wedding and celebration wear category. It focus on spreading India’s vibrant culture, traditions and heritage through its aspirational yet value for money brands at a diverse range of price points. It offers a one-stop destination with a wide-spectrum of product offerings for every celebratory occasion and aim to deliver an aristocratic yet seamless purchase experience to its customers through its aesthetic franchisee-owned exclusive brand stores.

The company’s portfolio of products includes a diverse range of attires and accessories, each conceptualized by its designers who have experience in serving the distinct regional preferences of the Indian customer. Its products are manufactured by artisans having an abundance of expertise in the Indian wedding and celebration wear market, supplemented by its own ingrained knowledge of the demands of Indian festivals and weddings. Its wedding portfolio also includes different ranges of creations for different members of the wedding entourage, besides unique personalization for the bride and the groom. Over the years, it has built longstanding relationships with vendors and artisans, which have been critical towards it being able to command a dominant position in a market that was conventionally an unorganized market.

Business area of the company

Vedant Fashions caters to the Indian celebration wear market with a diverse portfolio of brands. The company’s products include men’s ethnic and celebration wear items such as Indo-western, sherwanis, kurtas, jackets and accessories such as jutti, safa, mala, and women’s ethnic and celebration wear items such as lehengas, sarees, stitched suits, gowns and kurtis.

Awards, accreditations or recognitions

  • 2004-2008: Recognised as “Best Men's Ethnic Wear Brand” by Central Icons.
    2008-2010: Recognised as “Iconic Men’s Ethnic Brand” by Central Icons.
  • 2014: ET Bengal Corporate Award for the “Fastest Growing Company-Maximum Turnover of Rs 300 crore” granted by Association of Corporate Advisers & Executives, Kolkata and the Economic Times.
  • 2014: Award for Retail Excellence for being the “Pioneer in Ethnic Retail Business” granted by ABP News.
  • 2015: Images Award for “Excellence in Supply Chain Management & Fulfillment” granted by Images Retail Tech Awards.
  • 2015: Recognized as the “National Retailer of the Year” at the 4th Annual Indian Retail & Indian eRetail Awards.
  • 2017: Images Award for “Most Admired Fashion Brand of the year: Men’s Indian Wear” granted by Images Fashion Awards.
  • 2018: Images Award for “Most Admired Retailer of the Year Marketing & Promotions Campaign” granted by Images Retail Awards.
  • 2019: Indian Retail Award for “Ethnic Fashion Retailer of the Year” granted by Shop X.
  • 2019: Dare to Dream Award for “Company of the Year-Retail” granted by Zee Business.
  • 2019: Times Business Award for the “Best Men's Ethnic Wear Brand (East)” granted by the Times Group.
  • 2019: Images Award for “Most Admired Fashion Brand of the year: Men’s Indianwear” granted by Images Fashion Awards.
  • 2020: Images Excellence Award for “Men’s Indianwear” granted by Images Fashion Awards.
  • 2020: Recognized as India’s Retail Champion (Winner) in Specialty Retail by Bhartiya City Centre.
    2020: Global Award for Retail Excellence for “Retail Marketing Campaign of the Year #TaiyaarHokarAaiye” granted by ET Now.
  • 2020: ET Bengal Corporate Award for “Excellence in Business Performance-Turnover between INR 300 crore and 1,000 crore” granted by Association of Corporate Advisers & Executives, Kolkata and the Economic Times.
  • 2021: Retail Award for the “Most Admired Retailer of the year-Marketing and Advertising campaign” granted by Mapic India.
  • 2021: Employer Branding Award for “Best Employer Branding Award” hosted by World HRD Congress and Stars Group.

Major events and key milestones

  • 2010: Inauguration of 100th EBO, in Santa Cruz, Mumbai, Maharashtra.
  • 2011: Launch of first international store, in Dubai, United Arab Emirates.
  • 2012: Surpassed the 200 EBO mark.
  • 2012: Crossed Rs 1,000 million in EBO revenue.
  • 2013: Inauguration of 300th EBO, in Quest Mall, Kolkata, West Bengal.
  • 2013: Presence of EBOs in 100 cities.
  • 2013: Collaboration with Kolkata Knight Riders, Delhi Daredevils, and Sunrisers Hyderabad as their ‘Official Indian Wear Partner’ at the Indian Premier League.
    2014: Inauguration of our 333rd EBO, in Lower Parel, Mumbai, Maharashtra.
  • 2014: Collaboration with Hero Indian Super League as Associate Sponsor.
  • 2014: Inauguration of our 400th EBO, in Hazrathanj, Lucknow, Uttar Pradesh.
  • 2014: Launch of women’s celebration wear label ‘Mohey’.
  • 2016: Launch of first store in USA, in New Jersey.
  • 2016: Crossed Rs 5,000 million in EBO revenue.
  • 2017: Strategic acquisition of brand ‘Mebaz’ from New Meena Bazaar International Private Limited.
  • 2017: Investment from Kedaara Capital AIF -and Rhine Holdings Limited.
  • 2018: Collaboration with Rajasthan Royals and Kings XI Punjab as their official sponsors at the Indian Premier League.
  • 2018: Refreshed launch of value celebration wear label ‘Manthan’.
  • 2019: Inauguration of 600th store, in Mysore, Karnataka.
  • 2019: Launch of premium men’s wear brand ‘Twamev’.
  • 2019: Crossed Rs 10,000 million in EBO revenue.
  • 2019: Crossed 1 million sq. ft. of EBO presence.
  • 2020: Launch of the “Manyavar” mobile application.
  • 2021: Partnership with Femina Miss India 2021 as Celebration Wear Partner.
  • 2021: Collaboration with ICC Men’s T20 World Cup 2021 as the ‘ICC Official Partner’.
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