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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
₹565.65 3.70 (0.66%)
As on 24-Sep'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
₹565.65 3.70 (0.66%)
As on 24-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹16,380 Cr.
Current Price
₹565.7
52-Week Low / High
₹387 / 688
TTM EPS
₹29.3
TTM Sales
₹10,186 Cr.
Book Value per Share
₹373
P/E Ratio
19.32
Higher than its 5-year historical median
Industry PE
35.9
Price to Book (P/B)
1.52
Higher than its 5-year historical median
Price to Sales (P/S)
1.61
Higher than its 5-year historical median
EV/EBITDA
11.22
Higher than its 5-year historical median
Dividend Yield
0.88%
Profitability Efficiency
Return on Equity (ROE)
7.39%
Outperforms industry median
Return on Capital Employed (ROCE)
8.91%
Outperforms industry median
Return on Assets (ROA)
5.73%
Operating Profit Margin
13.3%
Net Profit Margin
7.63%
Gross Profit Margin
13.9%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
0.68%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
-1.91%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-15.06%
Asset Quality
Promoter Holding
65.08%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹10,743 Cr.
Equity
₹57.9 Cr.
Face Value
₹2
All Time Low / High
₹3.63 / 687.70
Check Before You Invest
Quality
Somewhat GoodValuation
OvervaluedCheck Valuation charts
Price Trend
Weak
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?
Revenue growth of Vardhman Textiles Ltd vs industry peers?
Vardhman Textiles Ltd revenue CAGR is 9.96%, compared to the industry median CAGR of 0.00%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Vardhman Textiles Ltd?
Promoters hold 65.08% of the Vardhman Textiles Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Vardhman Textiles Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 10.5% 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.
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'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 22.9% | 12.5% | 15.4% | 9.6% | 7.4% | 25.7% | 11.2% | 8.7% | 11.5% | 9% | - |
| Value Creation Index ⓘ | 0.7 | -0.1 | 0.1 | -0.3 | -0.5 | 0.9 | -0.2 | -0.4 | -0.2 | -0.3 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 5,690 | 5,851 | 6,415 | 6,325 | 5,926 | 9,386 | 9,841 | 9,299 | 9,587 | 9,652 | 9,958 |
| Sales YoY Gr. | - | 2.8% | 9.6% | -1.4% | -6.3% | 58.4% | 4.8% | -5.5% | 3.1% | 0.7% | - |
| Adj EPS ⓘ | 25.3 | 18.2 | 22.5 | 18.5 | 13.4 | 57.5 | 26.3 | 19.1 | 27.7 | 26.2 | 28.4 |
| YoY Gr. | - | -28.3% | 23.7% | -17.5% | -27.7% | 329.2% | -54.2% | -27.6% | 45.1% | -5.1% | - |
| BVPS (₹) ⓘ | 142.5 | 160.9 | 181.7 | 196.5 | 212.7 | 260.8 | 286.9 | 304.5 | 331 | 351.8 | 361.2 |
| Adj Net Profit ⓘ | 708 | 521 | 645 | 533 | 386 | 1,661 | 761 | 551 | 800 | 759 | 824 |
| Cash Flow from Ops. ⓘ | 1,289 | 90.1 | 447 | 851 | 115 | 1,430 | 1,815 | -1,062 | 1,619 | 1,102 | - |
| Debt/CF from Ops. ⓘ | 1.7 | 25.4 | 5 | 2.6 | 18.5 | 1.4 | 0.9 | -1.7 | 0.8 | 1.7 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 6.1% | 10.3% | -0.6% | 0.7% | ||||
| Adj EPS ⓘ | 0.4% | 14.4% | -0.1% | -5.1% | ||||
| BVPSⓘ | 10.6% | 10.6% | 7% | 6.3% | ||||
| Share Price | 10.5% | 9.5% | 13% | 36.6% | ||||
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 % ⓘ | 18.4 | 12.1 | 13.1 | 9.8 | 6.5 | 24.3 | 9.6 | 6.5 | 8.7 | 7.7 | 8 |
| Op. Profit Mgn % ⓘ | 19.9 | 14.7 | 17.6 | 14.1 | 14.4 | 24.8 | 13.7 | 10.4 | 13.1 | 13.4 | 13.6 |
| Net Profit Mgn % ⓘ | 12.4 | 8.9 | 10.1 | 8.4 | 6.5 | 17.7 | 7.7 | 5.9 | 8.3 | 7.9 | 8.3 |
| Debt to Equity ⓘ | 0.6 | 0.5 | 0.4 | 0.4 | 0.4 | 0.3 | 0.2 | 0.2 | 0.1 | 0.2 | - |
| Working Cap Days ⓘ | 187 | 193 | 209 | 226 | 263 | 194 | 179 | 208 | 233 | 230 | 123 |
| Cash Conv. Cycle ⓘ | 145 | 146 | 156 | 171 | 198 | 138 | 127 | 159 | 180 | 168 | 97 |
Valuation of Vardhman Textiles - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* 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 | 5,997 | 6,242 | 6,878 | 6,735 | 6,140 | 9,622 | 10,137 | 9,505 | 9,785 | 9,869 |
| Operating Expenses ⓘ + | 4,798 | 5,339 | 5,684 | 5,798 | 5,326 | 7,348 | 8,814 | 8,531 | 8,522 | 8,630 |
| Operating Profit ⓘ | 1,199 | 903 | 1,193 | 937 | 814 | 2,274 | 1,324 | 973 | 1,263 | 1,239 |
| Operating Profit Margin (%) | 20.0% | 14.5% | 17.4% | 13.9% | 13.3% | 23.6% | 13.1% | 10.2% | 12.9% | 12.6% |
| Other Income ⓘ + | 554 | 197 | 223 | 174 | 202 | 225 | 192 | 326 | 336 | 223 |
| Interest ⓘ | 129 | 118 | 120 | 135 | 113 | 100 | 102 | 102 | 77 | 92 |
| Depreciation ⓘ | 343 | 240 | 254 | 333 | 364 | 368 | 394 | 405 | 401 | 465 |
| Profit Before Tax ⓘ | 1,318 | 760 | 1,059 | 655 | 559 | 2,071 | 1,060 | 835 | 1,168 | 955 |
| Tax ⓘ | 324 | 167 | 318 | 65 | 132 | 520 | 255 | 198 | 282 | 202 |
| Profit After Tax | 994 | 592 | 741 | 591 | 427 | 1,551 | 805 | 637 | 887 | 753 |
| PAT Margin (%) | 16.6% | 9.5% | 10.8% | 8.8% | 7.0% | 16.1% | 7.9% | 6.7% | 9.1% | 7.6% |
| Adjusted EPS (₹) | 35.8 | 20.6 | 25.9 | 20.4 | 14.7 | 54.4 | 28.0 | 22.2 | 31.1 | 26.2 |
| Dividend Payout Ratio (%) | 8.40% | 14.60% | 13.50% | 0% | 23.90% | 12.50% | 12.50% | 18% | 16.10% | 19.10% |
| 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 + | 4,273 | 4,943 | 5,575 | 6,033 | 6,450 | 7,698 | 8,563 | 9,100 | 9,888 | 10,501 | |
| Debt + | 1,809 | 2,031 | 1,975 | 2,003 | 1,848 | 1,518 | 1,275 | 1,252 | 1,153 | 1,673 | |
| Minority Interest | 112 | 109 | 113 | 121 | 133 | 138 | 89 | 88 | 70 | 74 | |
| Trade Payables | 245 | 291 | 316 | 357 | 299 | 396 | 360 | 358 | 497 | 497 | |
| Others Liabilities ⓘ | 1,061 | 871 | 1,037 | 839 | 886 | 1,230 | 1,046 | 1,182 | 826 | 1,120 | |
| Total Liabilities ⓘ | 7,501 | 8,244 | 9,016 | 9,354 | 9,617 | 10,979 | 11,333 | 11,981 | 12,432 | 13,866 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 2,591 | 2,631 | 3,201 | 3,628 | 3,529 | 3,494 | 3,937 | 3,769 | 4,150 | 5,094 | |
| CWIP ⓘ | 49 | 106 | 274 | 142 | 78 | 241 | 51 | 61 | 252 | 586 | |
| Investments ⓘ | 1,868 | 1,834 | 1,346 | 1,145 | 1,075 | 1,691 | 2,549 | 1,699 | 1,844 | 1,828 | |
| Inventories | 1,753 | 2,257 | 2,610 | 2,681 | 2,796 | 2,882 | 2,393 | 4,180 | 3,761 | 3,643 | |
| Trade Receivables | 734 | 758 | 803 | 821 | 1,039 | 1,321 | 1,191 | 1,220 | 1,298 | 1,306 | |
| Cash Equivalents | 45 | 74 | 44 | 280 | 212 | 122 | 374 | 88 | 89 | 83 | |
| Others Assets ⓘ | 462 | 586 | 739 | 657 | 889 | 1,228 | 837 | 964 | 1,038 | 1,324 | |
| Total Assets ⓘ | 7,501 | 8,244 | 9,016 | 9,354 | 9,617 | 10,979 | 11,333 | 11,981 | 12,432 | 13,866 | |
| 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 ⓘ + | 1,350 | 103 | 499 | 849 | 168 | 1,445 | 1,853 | -1,055 | 1,644 | 1,108 |
| Cash Flow From Investing Activity ⓘ + | -343 | -167 | -278 | -379 | -116 | -899 | -1,445 | 1,104 | -892 | -1,516 |
| Cash Flow From Financing Activity ⓘ + | -1,180 | 92 | -252 | -296 | -174 | -571 | -399 | -90 | -733 | 398 |
| Net Cash Flow ⓘ | -173 | 28 | -30 | 175 | -122 | -26 | 9 | -41 | 19 | -10 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 24.04 | 12.86 | 14.08 | 10.18 | 6.84 | 21.92 | 9.9 | 7.21 | 9.34 | 7.39 |
| ROCE (%) | 22.02 | 12.73 | 15.56 | 9.8 | 7.97 | 23.74 | 11.66 | 8.87 | 11.31 | 8.91 |
| Asset Turnover Ratio | 0.8 | 0.79 | 0.8 | 0.73 | 0.65 | 0.93 | 0.91 | 0.82 | 0.8 | 0.75 |
| PAT to CFO Conversion(x) | 1.36 | 0.17 | 0.67 | 1.44 | 0.39 | 0.93 | 2.3 | -1.66 | 1.85 | 1.47 |
| Working Capital Days | ||||||||||
| Receivable Days | 45.70 | 43.60 | 41.40 | 44 | 55.30 | 44.80 | 45.20 | 46.30 | 47 | 48.10 |
| Inventory Days | 111.30 | 117.10 | 129.10 | 143.40 | 162.80 | 107.70 | 95 | 126.20 | 148.10 | 136.90 |
| Payable Days | 15 | 28.20 | 30.50 | 34.50 | 36.80 | 27.80 | 23.30 | 23.40 | 28.90 | 33.30 |
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Vardhman Textiles Ltd FAQs
The current trading price of Vardhman Textiles on 24-Sep-2026 16:59 is ₹565.6.
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 23-Sep-2026 the market cap of Vardhman Textiles stood at ₹16,379.9 Cr
The latest P/E ratio of Vardhman Textiles as of 23-Sep-2026 is 19.89.
The latest P/B ratio of Vardhman Textiles as of 23-Sep-2026 is 1.57.
The 52-week high of Vardhman Textiles is ₹687.7 and the 52-week low is ₹386.6.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Vardhman Textiles is ₹9,958 ( 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 Weak which suggest that the price of Vardhman Textiles Ltd is likely to Fall 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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