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Varvee Global Ltd (VGL)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 514274 NSE: VGL Textile - Weaving | Small Cap | Varvee Global Share Price
₹63.13 0.07 (0.11%)
As on 05-Oct'26 16:59
Varvee Global Ltd (VGL)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 514274 NSE: VGL Textile - Weaving | Small Cap | Varvee Global Share Price
₹63.13 0.07 (0.11%)
As on 05-Oct'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹325 Cr.
Current Price
₹63.1
52-Week Low / High
₹44 / 86
TTM EPS
₹-3.8
TTM Sales
₹71.6 Cr.
Book Value per Share
₹13.7
P/E Ratio
0.00
Industry PE
15.2
Price to Book (P/B)
4.62
Higher than its 5-year historical median
Price to Sales (P/S)
4.54
Higher than its 5-year historical median
EV/EBITDA
24.60
Higher than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
22.08%
Outperforms industry median
Return on Capital Employed (ROCE)
18.90%
Outperforms industry median
Return on Assets (ROA)
9.62%
Operating Profit Margin
8.6%
Net Profit Margin
19.82%
Gross Profit Margin
37.8%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
47.94%
Operating Profit Growth (1 Year)
-
-
Net Profit Growth (1 Year)
-
-32.85%
Asset Quality
Promoter Holding
65.63%
Pledged shares (%) of Promoter's holding (%)
15.65%
Reserves
₹45 Cr.
Equity
₹25.8 Cr.
Face Value
₹5
All Time Low / High
₹0.12 / 98.50
Check Before You Invest
Quality
Somewhat GoodValuation
OvervaluedCheck Valuation charts
Price Trend
Semi Strong
Is Varvee Global Ltd a good quality company?
Varvee Global Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Varvee Global Ltd performance compare with that of its Peers?
Revenue growth of Varvee Global Ltd vs industry peers?
Varvee Global Ltd revenue CAGR is -25.02%, compared to the industry median CAGR of 0.00%, indicating slower growth and losing its market share.
Promoter shareholding and pledge status of Varvee Global Ltd?
Promoters hold 65.63% of the Varvee Global Ltd, with 15.65% of their stake pledged, indicating high pledge risk.
Stock return of Varvee Global Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 3.8% based on the current price.
10 Year X-Ray :
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 endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
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.
Varvee Global Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 6.4% | 7.8% | 7.5% | -0.4% | -6.8% | -5.7% | -10.2% | -9.7% | 21.5% | 18.9% | - |
| Value Creation Index ⓘ | -0.6 | -0.4 | -0.5 | -1.0 | -1.5 | -1.4 | -1.7 | -1.7 | 0.5 | 0.4 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 844 | 827 | 752 | 565 | 265 | 421 | 261 | 84.7 | 42.5 | 62.8 | 72 |
| Sales YoY Gr. | - | -2.1% | -9.1% | -24.9% | -53.1% | 58.9% | -38% | -67.5% | -49.9% | 47.9% | - |
| Adj EPS ⓘ | 0.6 | 1.1 | 0.3 | -8.6 | -15.6 | -13.8 | -14.6 | -10.1 | -14.7 | 2.2 | -3.8 |
| YoY Gr. | - | 69.8% | -69.2% | -2709.1% | NA | NA | NA | NA | NA | NA | - |
| BVPS (₹) ⓘ | 56.7 | 57.9 | 58.2 | 49.2 | 35.7 | 26.9 | 13.1 | 3.7 | 7.6 | 15 | 13.7 |
| Adj Net Profit ⓘ | 3 | 5 | 1.5 | -40.4 | -73.2 | -64.5 | -68.4 | -47.3 | -68.9 | 11.3 | -20 |
| Cash Flow from Ops. ⓘ | 110 | 37.8 | 50.6 | 64.6 | 45.4 | 12.5 | 39.7 | 110 | 27.5 | 5 | - |
| Debt/CF from Ops. ⓘ | 3.2 | 10 | 8.6 | 6.5 | 9.5 | 33 | 10 | 2.5 | 3.4 | 0.6 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -25.1% | -25% | -37.8% | 47.9% | ||||
| Adj EPS ⓘ | 14.9% | NA | NA | NA | ||||
| BVPSⓘ | -13.8% | -16% | 4.5% | 96.2% | ||||
| Share Price | 4.1% | 38.4% | 73.9% | -20.8% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 1.1 | 1.9 | 0.6 | -16 | -36.7 | -43.9 | -72.9 | -120.4 | -260.3 | 20 | -26.6 |
| Op. Profit Mgn % ⓘ | 8.7 | 9.7 | 11 | 6.4 | -7.4 | -2.5 | -9.5 | -36.7 | -188.6 | 8.6 | -0.5 |
| Net Profit Mgn % ⓘ | 0.4 | 0.6 | 0.2 | -7.2 | -27.6 | -15.3 | -26.2 | -55.8 | -162.3 | 17.9 | -27.3 |
| Debt to Equity ⓘ | 1.3 | 1.4 | 1.6 | 1.8 | 2.6 | 3.3 | 6.5 | 16.1 | 2.6 | 0 | - |
| Working Cap Days ⓘ | 189 | 213 | 261 | 331 | 617 | 334 | 434 | 982 | 913 | 202 | 75 |
| Cash Conv. Cycle ⓘ | 112 | 124 | 148 | 201 | 370 | 231 | 308 | 767 | 739 | 19 | -94 |
Valuation of Varvee Global - Standalone
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 51.00 | 51.00 | 55.18 | 55.18 | 86.55 | 100.00 | 14.17 | 14.17 | 14.17 | 15.65 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 844 | 827 | 752 | 565 | 265 | 421 | 261 | 85 | 42 | 63 |
| Operating Expenses ⓘ + | 772 | 747 | 669 | 531 | 285 | 431 | 289 | 116 | 132 | 57 |
| Operating Profit ⓘ | 72 | 80 | 82 | 34 | -20 | -10 | -28 | -31 | -90 | 5 |
| Operating Profit Margin (%) | 8.5% | 9.7% | 10.9% | 6.0% | -7.4% | -2.5% | -10.8% | -36.8% | -211.0% | 8.5% |
| Other Income ⓘ + | 2 | 3 | 3 | 2 | 6 | 4 | 3 | 7 | 140 | 20 |
| Interest ⓘ | 38 | 43 | 49 | 53 | 51 | 43 | 46 | 37 | 13 | 1 |
| Depreciation ⓘ | 33 | 33 | 34 | 38 | 28 | 25 | 25 | 12 | 4 | 5 |
| Profit Before Tax ⓘ | 3 | 6 | 2 | -56 | -93 | -75 | -97 | -73 | 33 | 18 |
| Tax ⓘ | 1 | 1 | 1 | -14 | -23 | -13 | -27 | -28 | 14 | 6 |
| Profit After Tax | 2 | 6 | 1 | -42 | -70 | -63 | -69 | -45 | 19 | 12 |
| PAT Margin (%) | 0.2% | 0.7% | 0.1% | -7.4% | -26.5% | -14.9% | -26.6% | -52.7% | 43.7% | 19.8% |
| Adjusted EPS (₹) | 0.4 | 1.2 | 0.2 | -8.9 | -15.0 | -13.3 | -14.8 | -9.5 | 4.0 | 2.4 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 266 | 272 | 273 | 231 | 168 | 126 | 61 | 17 | 36 | 77 | |
| Debt + | 339 | 377 | 429 | 411 | 420 | 391 | 370 | 247 | 82 | 3 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 152 | 208 | 197 | 158 | 87 | 77 | 57 | 52 | 18 | 27 | |
| Others Liabilities ⓘ | 74 | 63 | 49 | 42 | 33 | 10 | -14 | 41 | 2 | 14 | |
| Total Liabilities ⓘ | 831 | 919 | 949 | 843 | 708 | 604 | 474 | 357 | 137 | 122 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 375 | 363 | 389 | 350 | 274 | 231 | 202 | 72 | 68 | 43 | |
| CWIP ⓘ | 5 | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 0 | 1 | |
| Investments ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 10 | |
| Inventories | 159 | 200 | 223 | 222 | 154 | 156 | 121 | 90 | 8 | 18 | |
| Trade Receivables | 240 | 295 | 288 | 235 | 208 | 166 | 124 | 100 | 7 | 16 | |
| Cash Equivalents | 19 | 23 | 18 | 11 | 20 | 16 | 7 | 2 | 15 | 4 | |
| Others Assets ⓘ | 34 | 38 | 31 | 25 | 53 | 34 | 19 | 93 | 38 | 30 | |
| Total Assets ⓘ | 831 | 919 | 949 | 843 | 708 | 604 | 474 | 357 | 137 | 122 | |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 110 | 38 | 51 | 65 | 45 | 13 | 40 | 110 | 27 | 5 |
| Cash Flow From Investing Activity ⓘ + | -50 | -19 | -53 | 5 | 9 | 47 | 13 | 46 | 182 | 28 |
| Cash Flow From Financing Activity ⓘ + | -63 | -19 | 3 | -70 | -42 | -63 | -62 | -156 | -196 | -43 |
| Net Cash Flow ⓘ | -3 | 0 | 0 | -1 | 12 | -4 | -10 | 0 | 13 | -10 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 0.66 | 2.09 | 0.4 | -16.63 | -35.2 | -42.53 | -73.83 | -113.53 | 70.06 | 22.08 |
| ROCE (%) | 6.37 | 7.83 | 7.51 | -0.38 | -6.78 | -5.66 | -10.18 | -9.65 | 21.49 | 18.9 |
| Asset Turnover Ratio | 1.02 | 0.95 | 0.8 | 0.63 | 0.34 | 0.64 | 0.48 | 0.2 | 0.17 | 0.48 |
| PAT to CFO Conversion(x) | 55 | 6.33 | 51 | N/A | N/A | N/A | N/A | N/A | 1.42 | 0.42 |
| Working Capital Days | ||||||||||
| Receivable Days | 97.80 | 118.10 | 141.50 | 168.80 | 305 | 162.20 | 203.10 | 482.40 | 460.80 | 68.10 |
| Inventory Days | 72.50 | 79.10 | 102.70 | 143.90 | 258.90 | 134.50 | 193.90 | 453.10 | 419.80 | 75 |
| Payable Days | 92.30 | 117.60 | 155 | 180.10 | 225.70 | 106.80 | 127.40 | 246.30 | 147.40 | 376.90 |
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Varvee Global Ltd FAQs
The current trading price of Varvee Global on 05-Oct-2026 16:59 is ₹63.13.
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 04-Oct-2026 the market cap of Varvee Global stood at ₹325.3 Cr
The latest P/E ratio of Varvee Global as of 04-Oct-2026 is 0.00.
The latest P/B ratio of Varvee Global as of 04-Oct-2026 is 4.62.
The 52-week high of Varvee Global is ₹85.88 and the 52-week low is ₹44.25.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Varvee Global is ₹71.61 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Varvee Global Ltd is a average quality company.
The key valuation ratios of Varvee Global Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Varvee Global Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
About Varvee Global Ltd
Varvee Global (Formerly Known as Aarvee Denims and Exports) is a public company domiciled in India and incorporated under the provisions of the Companies Act, 2013 (the Act erstwhile Companies Act, 1956). The registered office of the Company is located at Ahmedabad. The company is engaged in the manufacturing and selling of denim and non-denim Fabrics. The company caters to both domestic and international markets.
The company is a leading global player in the textile industry. The company’s in-house spinning, sizing, weaving, dyeing, & finishing capabilities with top-notch machines and advanced technologies offers stringent start-to-finish quality control at every step of the product manufacturing cycle. The company’s flexible and responsive vertically integrated production process gives it the ability to quickly respond to change in market demand by being able to produce distinct designs and weaves in short turnaround times. This ensures an end product that comfortably competes with the best in the world.
The company has a strong product development team with experienced fabric designers and product technologists. The team has an astute market knowledge in forecasting future trends. An extensive lab and quality control supports the R&D. Together these teams are organized and focused to provide high quality, innovative products and customized Fabric to its buyers.
Business area of the company
The company is engaged in the manufacturing and selling of denim and non-denim Fabrics. The company caters to both domestic and international markets. The company has its integrated productions of Yarn, Denim Fabric, Non-Denim Bottom Wear Fabric.
Products of the company
- Basic Indigo Blue Denims
- Ring Denims
- Shirting Denims
- Printed Denims
- Stretch Denims
- Satin Denims
- Flat Finish Denims
- Other Denims
- High Fashion Denims
- LYCRA dualFX Technology
- Non-Denim Fabrics
History and milestones
- 2025: The company achieved bank debt-free status, eliminating interest liabilities and strengthening its financial position.
- 2025: Jaimin K. Gupta was appointed as CMD and the new management formally took control of the company.
- 2025: The company initiated strategic operational upgrades, including loom upgrades and introduction of a new ERP system commenced.
- 2025: The company launched Consultation and Advisory division.
- 2025: Shareholders approved key resolutions at the EGM, including new management roles and the proposed name change to Varvee Global.
- 2025: Change of Name from Aarvee Denims and Exports Limited to Varvee Global Limited.
- 2026: Varvee Global successfully commenced and increased its production capacity by 6 lakh meters per month, taking the total installed capacity from 12 lakh meters to 18 lakh meters per month in Non-Denims -- Shirtings and Suitings Fabrics.
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