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Vardhman Acrylics Ltd Stock Analysis

Small Cap
Evaluated by 217 users | BSE: 0 | NSE: VARDHACRLC |
Textile - Manmade Fibres

Analysis of Financial Track Record

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.
Value Creation
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
Return on Capital Employed 18.14%10.45%10.79%14.29%9.41%8.46%9.92%10.68%9.29%9.95%11%-
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 399390436468498413337320392334280287
Y-o-Y Gr. Rt.--2.2%11.9%7.3%6.3%-17.2%-18.3%-5.2%22.6%-14.7%-16.2%-
Adjusted EPS (Rs.) 3.482.322.914.313.142.893.764.043.754.255.135.96
Y-o-Y Gr. Rt.--33.3%25.4%48.1%-27.2%-8%30.1%7.5%-7.2%13.3%20.7%-
Book Value per Share (Rs.) 20.8523.1127.4232.3734.5534.1736.7639.7441.5244.2349.5750.83
Adjusted Net Profit 37.825.227.640.129.226.930.332.430.134.241.248
Net Op. Cash Flow (Rs. Cr.) 16.127.523.742.755.423.242.22.925.54.239.5-
Debt to Cash Flow from Ops 0.140.30.180.040.010.030.020.450.030.340.01-
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
Vardhman Acrylics Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  10 yrs 5 yrs 3 yrs 1 yr
Net Sales -3.6%-7.4%-4.3%-16.2%
Adjusted EPS 9.2%12.2%8.3%20.7%
Book Value per Share 8.97.77.712.1
Share Price - - - -
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
Return on Equity (%) 18.2110.5510.8114.319.388.429.8710.559.229.9210.9311.87
Operating Profit Margin (%) 15.499.7410.7811.666.9410.711.329.857.118.0117.2422.68
Net Profit Margin (%) 9.476.456.328.565.866.538.9710.157.6810.2314.716.71
Debt to Equity 0.010.030.020.0100000000
Working Capital Days 121137121119122146193237215269320615
Cash Conversion Cycle 363630241031120211521469
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Entity Percentage Holding
Promoters 74.97%
Institutions 0.19%
Non-Institutions 24.83%
Others 0.01%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)
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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

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.
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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