Vardhman Acrylics Ltd - Stock Valuation and Financial Performance

BSE: 0 | NSE: VARDHACRLC | Textile - Manmade Fibres | Small Cap

BSE Share Price
Not Listed

DeciZen - make an informed investing decision on Vardhman Acrylics

Overall Rating
M-Cap below 500cr. High Risk from low Liquidity Bole Toh

1. Quality

2. Valuation

Undervalued

3. Price Trend

Vardhman Acrylics stock performance -

mw4me loader
P/E Ratio (SA):
26.08
Market Cap:
421.5 Cr.
52-wk low:
0
52-wk high:
0

Is Vardhman Acrylics Ltd an attractive stock to invest in?

1. Is Vardhman Acrylics Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Vardhman Acrylics Ltd is a average quality company.

2. Is Vardhman Acrylics Ltd undervalued or overvalued?

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

3. Is Vardhman Acrylics Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Vardhman Acrylics Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Vardhman Acrylics:

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.
Vardhman Acrylics Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 14.3%9.4%8.5%9.9%10.7%9.3%10%11%3%12.1%-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 468498413337320392334280303427310
Sales YoY Gr.-6.3%-17.2%-18.3%-5.2%22.6%-14.7%-16.2%8.3%40.7%-
Adj EPS 4.33.12.93.843.84.35.11.13.42
YoY Gr.--27.2%-8%30.1%7.5%-7.2%13.3%20.7%-78.6%211.8%-
BVPS (₹) 32.434.634.236.839.741.544.249.626.430.532.1
Adj Net
Profit
40.129.226.930.332.430.134.241.28.827.616
Cash Flow from Ops. 42.755.423.242.22.925.54.239.5-9.438.5-
Debt/CF from Ops. 00000.500.30-0.30-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales -1%5.9%8.5%40.7%
Adj EPS -2.5%-3.2%-6.9%211.8%
BVPS-0.7%-5.1%-11.6%15.6%
Share Price - 5.6% 12.7% 18.9%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
14.39.48.49.910.69.29.910.92.912.16.4
Op. Profit
Mgn %
11.76.910.711.39.97.1817.22.98.53.8
Net Profit
Mgn %
8.65.96.5910.27.710.214.72.96.55.2
Debt to
Equity
0000000000-
Working Cap
Days
119122146193237215269314308233107
Cash Conv.
Cycle
241031120211519453061

Recent Performance Summary

No data to display

Return on Equity has declined versus last 3 years average to 6.40%

Sales growth has been subdued in last 3 years 8.46%

Net Profit has been subdued in last 3 years -6.90%

Sales growth is not so good in last 4 quarters at -30.44%

Latest Financials - Vardhman Acrylics Ltd.

Standalone Consolidated
TTM EPS (₹) 2 -
TTM Sales (₹ Cr.) 310 -
BVPS (₹.) 32.1 -
Reserves (₹ Cr.) 177 -
P/BV 1.64 -
PE 26.08 -
From the Market
52 Week Low / High (₹) 0.00 / 0.00
All Time Low / High (₹) - / -
Market Cap (₹ Cr.) 422
Equity (₹ Cr.) 80.4
Face Value (₹) 10
Industry PE 30.1

Management X-Ray of Vardhman Acrylics:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Vardhman Acrylics

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
Sales468498413337320392334280303427
Operating Expenses 426465368300288364308233294391
Manufacturing Costs33373635333637323473
Material Costs359403308236226298240169231283
Employee Cost 10111214141516161618
Other Costs 24131214151615151317
Operating Profit 4234443831282748936
Operating Profit Margin (%) 9.1%6.7%10.7%11.1%9.8%7.1%8.0%17.0%2.9%8.5%
Other Income 29162225212527151413
Interest 1000100100
Depreciation 11545555555
Exceptional Items 0000000000
Profit Before Tax 59456257474748571743
Tax 16112116812214310
Profit After Tax 44334141393446431533
PAT Margin (%) 9.3%6.7%9.9%12.2%12.1%8.8%13.8%15.3%4.8%7.7%
Adjusted EPS (₹)4.73.64.45.14.84.35.85.31.84.1
Dividend Payout Ratio (%)0%28%114%29%42%58%0%0%1,380%61%

Balance Sheet

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

Equity and Liabilities

Shareholders Fund 301321318295319334355398212245
Share Capital 93939380808080808080
Reserves 208228225215239253275318132165
Minority Interest0000000000
Debt2111111030
Long Term Debt0000000000
Short Term Debt2111111030
Trade Payables45663165416954414754
Others Liabilities 113130148165171182183199202215
Total Liabilities 461518498526532585594639464515

Fixed Assets

Gross Block24024523567687188889194
Accumulated Depreciation1651721739141924303539
Net Fixed Assets75726158555264595654
CWIP 3200000004
Investments 194263256248260284160232134172
Inventories77705279527660647783
Trade Receivables10125201610151113
Cash Equivalents 63194212510254
Others Assets96107125126141155175167182184
Total Assets 461518498526532585594639464515

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 43552342326439-939
PBT 59456257474748571743
Adjustment -8-11-17-20-15-15-20-9-7-2
Changes in Working Capital 334-76-126-155-128
Tax Paid -11-13-14-1-16-12-9-13-8-10
Cash Flow From Investing Activity -44-5843307-880-83190-37
Capex -3-5-3-1-2-2-6-1-3-8
Net Investments -51-6144285-8144-64107-30
Others 1092332-58-18851
Cash Flow From Financing Activity -5-1-68-63-15-20-24-1-198-3
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0000000000
Interest Paid 0000-100000
Dividend Paid 00-560-12-16-200-2000
Others -5-1-12-63-2-4-3-12-2
Net Cash Flow -6-3-28-5-261-44-17-1
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)15.5810.7412.7613.4112.5510.5613.4311.394.7714.36
ROCE (%)21.114.3819.2818.7115.3414.413.9315.265.8118.83
Asset Turnover Ratio1.211.110.880.720.620.70.570.460.550.88
PAT to CFO Conversion(x)0.981.670.561.020.080.760.090.91-0.61.18
Working Capital Days
Receivable Days4414141714161510
Inventory Days51505065746075808468
Payable Days375058748567941037066

Vardhman Acrylics Ltd Stock News

Vardhman Acrylics Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Vardhman Acrylics on 01-Jan-1970 05:30 is ₹0.00.
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 01-Jan-1970 05:30 the market cap of Vardhman Acrylics stood at ₹421.5.
The latest P/E ratio of Vardhman Acrylics as of 01-Jan-1970 05:30 is 26.08.
The latest P/B ratio of Vardhman Acrylics as of 01-Jan-1970 05:30 is 1.64.
The 52-week high of Vardhman Acrylics is ₹0.00 and the 52-week low is ₹0.00.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Vardhman Acrylics is ₹309.7 ( Cr.) .

About Vardhman Acrylics Ltd

Vardhman Group ventured into the manufacture of Acrylic Fiber/Tow in 1999. The joint venture, Vardhman Acrylics (VAL) was set up together with two leading Japanese business houses namely Japan Exlan Co. a part of Toyobo Group of Japan and Marubeni Corporation Japan. Japan Exlan Co. Ltd. is a pioneer in manufacturing of Acrylic Fibre while Marubeni Corporation is trading houses in the world, with over 200 representative offices & more than 650 affiliated companies in 90 countries.

Today VAL is an important acrylic fibre producer and its state-of-the-art Wet Spun technology, highly automated and microprocessor controlled plant with distributed Controlled Systems, is one of the most sophisticated acrylic fibre plant in the world producing consistently superior quality fibre.

Vardhman is a major integrated textile producer in India. The group was set up in 1965 at Ludhiana, Northern India. Since then, the group has expanded manifold and is today, perhaps, the largest textile conglomerate in India.

The group portfolio includes manufacturing and marketing of Yarns, Fabrics, Sewing Threads, Fibre and Alloy Steel. The company has set up a 18000 TPA Acrylic Staple Fibre and tow production plant at Jhagadia, Distt. Bharuch in the state of Gujarat, India.

The world class wet spun technology for the manufacture of acrylic fiber / tow has been sourced from Japan Exlan Co. Japan. It is a state of the art, highly automated production facility making it amongst the most advanced plants of its type in the world.

VARLAN fibre has achieved a high order of recognition in Indian market for use in a very wide variety of applications like hand knitting yarns; machine knitting yarns for jerseys, sweaters etc.; sarees; dress materials; upholstery; furnishings; velvets; blankets; carpets and many more. The endeavors for developing newer and exciting applications of VARLAN fibre continue in close association with the users.

Product range of the company includes:

  • Acrylic Bright & Semi-dull Non shrinkable fibre in 1.2,1.5,2,3,5,7,10,15 deniers in a wide range of cut lenghts.
  • Acrylic Bright & Semi-dull Shrinkable fibre with different shrinkage levels in 2,3,5 deniers in a wide range of cut lengths
  • Acrylic Tow endless Bright & Semi dull in 2,3 denier.
  • Specialty acrylic fibres suitable for Open end spinning; Soft handle, Water absorbent applications etc.
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