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Vardhman Textiles Ltd (VTL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 502986 NSE: VTL Textile | Small Cap | Vardhman Textiles Share Price

₹631.40 0.35 (0.06%)

As on 05-Jun'26 16:59

Vardhman Textiles Ltd (VTL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 502986 NSE: VTL Textile | Small Cap | Vardhman Textiles Share Price

₹631.40 0.35 (0.06%)

As on 05-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹18,267 Cr.
Current Price
₹631.4
52-Week Low / High
₹383 / 646
TTM EPS
₹25.6
TTM Sales
₹9,652 Cr.
Book Value per Share
₹351.9
P/E Ratio
24.68
Higher than its 5-year historical median
Industry PE
36.6
Price to Book (P/B)
1.79
Higher than its 5-year historical median
Price to Sales (P/S)
1.89
Higher than its 5-year historical median
EV/EBITDA
13.41
Higher than its 5-year historical median
Dividend Yield
1.27%
Profitability Efficiency
Return on Equity (ROE)
9.57%
Outperforms industry median
Return on Capital Employed (ROCE)
11.46%
Outperforms industry median
Return on Assets (ROA)
7.52%
Operating Profit Margin
13.1%
Net Profit Margin
9.17%
Gross Profit Margin
16.1%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
3.1%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
31.17%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
44.67%
Asset Quality
Promoter Holding
65.09%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹10,130 Cr.
Equity
₹57.9 Cr.
Face Value
₹2
All Time Low / High
₹3.63 / 646.00

Vardhman Textiles stock performance

Key Ratios
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Check Before You Invest

Quality

Somewhat Good

Valuation

Overvalued

Price Trend

Strong
Q.1 Is Vardhman Textiles Ltd a good quality company?
Vardhman Textiles 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 Vardhman Textiles Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Vardhman Textiles Ltd vs industry peers?
Vardhman Textiles Ltd revenue CAGR is 8.67%, compared to the industry median CAGR of 0%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Vardhman Textiles Ltd?
Promoters hold 65.09% of the Vardhman Textiles Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Vardhman Textiles Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 12.9% 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 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 Textiles 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'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 17.5%22.9%12.5%15.4%9.6%7.4%25.7%11.2%8.7%11.5%-
Value Creation
Index
0.30.7-0.10.1-0.3-0.50.9-0.2-0.4-0.2-

Growth Parameters

Sales 5,6135,6905,8516,4156,3255,9269,3869,8419,2999,5879,652
Sales YoY Gr.-1.4%2.8%9.6%-1.4%-6.3%58.4%4.8%-5.5%3.1%-
Adj EPS 21.525.318.222.518.513.457.526.319.127.725.6
YoY Gr.-18%-28.3%23.7%-17.5%-27.7%329.2%-54.2%-27.6%45.1%-
BVPS (₹) 118.9142.5160.9181.7196.5212.7260.8286.9304.5331351.9
Adj Net
Profit
6657085216455333861,661761551800740
Cash Flow from Ops. 8691,28990.14478511151,4301,815-1,0621,619-
Debt/CF from Ops. 31.725.452.618.51.40.9-1.70.8-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 6.1%8.7%0.7%3.1%
Adj EPS 2.9%8.4%-21.7%45.1%
BVPS12%11%8.3%8.7%
Share Price 14.1% 19.3% 20.6% 29.9%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
19.718.412.113.19.86.524.39.66.58.77.5
Op. Profit
Mgn %
19.719.914.717.614.114.424.813.710.413.112.6
Net Profit
Mgn %
11.912.48.910.18.46.517.77.75.98.37.7
Debt to
Equity
0.70.60.50.40.40.40.30.20.20.10.1
Working Cap
Days
225187193209226263194179208233123
Cash Conv.
Cycle
14914514615617119813812715918097

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales5,6135,6905,8516,4156,3255,9269,3869,8419,2999,587
Operating Expenses + 4,5054,5594,9935,2835,4425,1597,1248,5568,3408,330
Manufacturing Costs1,0781,0481,0691,1611,2441,0321,4101,5591,6251,686
Material Costs2,7472,7923,1663,3163,3343,1544,3995,7755,4935,288
Employee Cost 410454480520551575714750821868
Other Costs 270266278286313399601472402489
Operating Profit 1,1081,1318591,1328837672,2621,2859581,257
Operating Profit Margin (%) 19.7%19.9%14.7%17.6%14.0%12.9%24.1%13.1%10.3%13.1%
Other Income + 296628185218172188385193334367
Exceptional Items 0000000000
Interest 14212511411813311310010210277
Depreciation 363329229241319358362389399398
Profit Before Tax 8991,3057019906034842,1869877911,150
Tax 22330315529558117508238183271
Profit After Tax 6761,0025466965453671,677749608879
PAT Margin (%) 12.1%17.6%9.3%10.9%8.6%6.2%17.9%7.6%6.5%9.2%
Adjusted EPS (₹)21.835.819.024.219.012.758.125.921.030.4
Dividend Payout Ratio (%)13.80%8.40%15.80%14.50%0%27.50%11.70%13.50%19%16.50%

Valuation of Vardhman Textiles - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 3,6903,9864,6215,2235,6526,1217,5348,2938,8059,569
Share Capital 62565757585858585858
Reserves 3,6283,9304,5635,1655,5946,0637,4768,2358,7479,511
Debt +2,0391,7742,0011,9401,9891,8481,5151,2751,2511,152
Long Term Debt1,0227191,1961,0711,2661,297921931413749
Short Term Debt1,0171,055806869723551594343838403
Minority Interest0000000000
Trade Payables146177247240292258349307317430
Others Liabilities 1,1101,0218279667948371,1789861,113749
Total Liabilities 6,9856,9597,6968,3698,7279,06410,57610,86111,48711,900

Fixed Assets

Net Fixed Assets +2,5002,4582,5073,0593,4813,4683,4363,8813,7114,090
Gross Block5,6323,1733,3744,1644,8905,2765,5936,4196,6367,364
Accumulated Depreciation3,1327158681,1051,4081,8082,1582,5392,9253,273
CWIP 8549105274139782414761252
Investments 1,0701,6431,5921,0871,0318131,4582,2471,3621,476
Inventories1,8091,5892,1172,4422,5062,7362,8072,3124,1073,682
Trade Receivables7707187277637951,0241,3111,1791,2051,289
Cash Equivalents 277406841152711163708485
Others Assets 4744625807046228741,2088259571,026
Total Assets 6,9856,9597,6968,3698,7279,06410,57610,86111,48711,900

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 8691,289904478511151,4301,815-1,0621,619
PBT 8991,3057019906034842,1869877911,150
Adjustment 235-123197195308340185343254220
Changes in Working Capital -33412-615-50341-677-433740-1900484
Tax Paid -232-305-193-237-101-32-508-255-207-235
Cash Flow From Investing Activity + -480-252-160-227-462-31-883-1,4061,107-870
Capex -359-208-353-853-634-239-506-607-272-965
Net Investments -325-111149575114214-577-7101,02118
Others 20467445259-6200-8835777
Cash Flow From Financing Activity + -288-1,21397-247-278-199-521-397-86-730
Net Proceeds from Shares 0-70518853913310
Net Proceeds from Borrowing -456-436334-10810497-194-52-381-118
Interest Paid -133-111-81-109-120-93-86-96-99-62
Dividend Paid -159-1-83-86-101-0-296-0-101-116
Others 46042-26150-165-21143-251495-434
Net Cash Flow 101-17527-28111-1142613-4219

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)19.9726.112.6814.1410.036.2324.579.477.119.57
ROCE (%)17.5422.9412.4515.49.597.425.6911.178.6811.46
Asset Turnover Ratio0.790.820.80.80.740.670.960.920.830.82
PAT to CFO Conversion(x)1.291.290.160.641.560.310.852.42-1.751.84
Working Capital Days
Receivable Days4747.7045.1042.4044.905645.4046.2046.8047.50
Inventory Days112109115.60129.70142.80161.40107.8094.90126148.30
Payable Days18.2020.8023.9026.6029.1031.8025.2020.7020.8025.80

Management X-Ray

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 (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Vardhman Textiles Ltd FAQs

The current trading price of Vardhman Textiles on 05-Jun-2026 16:59 is ₹631.4.

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-Jun-2026 the market cap of Vardhman Textiles stood at ₹18,267.4 Cr

The latest P/E ratio of Vardhman Textiles as of 04-Jun-2026 is 24.68.

The latest P/B ratio of Vardhman Textiles as of 04-Jun-2026 is 1.79.

The 52-week high of Vardhman Textiles is ₹646.0 and the 52-week low is ₹383.4.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Vardhman Textiles is ₹9,652 ( Cr.) .

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

The key valuation ratios of Vardhman Textiles 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 Strong which suggest that the price of Vardhman Textiles Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Vardhman Textiles Ltd

Vardhman Textiles, incorporated in 1973, is one of the pioneers in textile industry with operations in the segments of yarn, sewing thread, steel, and fabric. Formerly known as Mahavir Spinning Mills, it is a part of Vardhman Group managed by Paul Oswal.

In 1975, Vardhman Textiles’s first plant was commissioned with 25,088 spindles in Hoshiarpur, Punjab. In 1977-78, the company set up a 25,000-spindle textile mill at Malerkotla in Sanazur, Punjab. In 1992-93, a 100% Export Oriented Unit (EOU) was commissioned by Vardhman Textiles’s at Mandideep. Both the Malerkotla mill and EOU unit was awarded the ISO 9002/BIS 14002 by Bureau of Indian Standards (BIS).

In March 1995, its gassed and mercerized dyed yarn project at Hoshiarpur commenced production.In order to set up 100% EOU located at Baddi, Himachal Pradesh, the company formed joint venture with Marubeni Corporation and Toho Rayon of Japan. For this company established Vardhman Acrylics and started commercial production in September 1996.

In 1998-99 company set up its 3rd 100% EOU at Mandideep with an installed production capacity of 25000 spindles.

Company set up unit-II at Ludhiana in order to expand its sewing thread capacity. This unit had an installed capacity of 5 TPD. Company entered an agreement with Amercian & Effird Inc., USA to manufacture superior sewing thread.

Much later in 2004 the textile business of Vardhman Spinning and General Mills was merged with Vardhman Textiles. The company added new units of Looms and Rotors with a installed capacity of 264 Nos and 528 Nos respectively

Companies like VMT Spinning Company (VMT), Vardhman Threads (VTL) and Vardhman Yarns & Threads and Vardhman Acrylics are the subsidiaries of Vardhman Textiles. Vardhman Textiles is promoted by Ludhiana based Vardhman Group, a major textile business house in India.

Company has received ISO 9002/ ISO 14002 certification for its quality management.

Vardhman Textiles, exports its products to more than 25 countries and has a strong presence in markets like the EEC, USA, Canada, China, Japan, Korea, Mexico, Brazil and Mauritius, Middle East.

Vardhman Group (Parent Company)Vardhman Group was set up in the year 1965 at Ludhiana, Northern India. The group has business interest in area of Yarns, Fabrics, Sewing Threads, Fibre and Alloy Steel. Vardhman group is one of the largest spinning group of the country with a spindlage of over 5,50,000.

The group has 12 production plants located in the states of Punjab, Himachal Pradesh and Madhya Pradesh. Currently the group has manufacturing capacity of approximately 25 metric tonne/per day of sewing thread in its plant at Hoshiarpur, Ludhiana, Baddi and Perundurai. Currently the group employs 20,000 people.Future ProspectsVardhman Textiles is undertaking Research and Development activities in order to develop of new products and for improvement in the production process and quality of products.

PRODUCT

Yarn: Under this segment, the company manufactures wide range of yarn such as Grey Cotton, Grey Acrylic, Crayons, Hank Dyed Acrylic, Vardhman Knitting, Gassed Mercerised Cotton and many more.Company’s annual manufacturing capacity of yarn is to 98,736 MT.

Fabrics- Company manufactures fabric for shirting and bottom weights. It produces fabrics of various types viz. 100% Cotton, Polyester cotton, Chief Value Cotton and Cotton Stretch. Company’s fabric manufacturing capacity is  30 million meters per annum

Sewing Threads- Company manufactures wide range of threads such as cotton, polyster, core spun (polyester cotton/ polyester polyester), trilobal embroidery thread, bonded nylon and lubricated nylon thread including specialized threads like button fusing, bead fusing and anti wicking, button shanking, indigo dyed and so on.

Steel- Under this, company has an installed capacity of 1,00,000 Metric tonnes per annum.

Awards

The Company was awarded Golden trophy by Textile Export Promotion Council (Merchant Export Category for Fabrics) for the various export performance in the year 1993-94.

Vardhman Textiles received the award of merit from the Government of India in the year 1994-95 and 1995-96.

2010-11 - Textile Export Promotion Council 2010-11

2011-12 -Textile Export Promotion Council 2011-12"

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