Vadilal Industries Ltd

Vadilal Industries Ltd

₹ 4,430 5.01%
16 Jul 12:28 p.m.
About

Vadilal was started as a soda company in 1907, the founder Vadilal Gandhi used to make ice cream by the traditional Kothi method. Vadilal Gandhi passed on the business to his son, Ranchod Lal Gandhi, who ran a one-man operation with a hand-cranked machine, started a small retail outlet in 1926. [1]

The Company is engaged in the business of manufacturing Ice-cream, Frozen Dessert, Juicy, and Candy and processing and exporting Processed Food products, such as Frozen Fruits and Vegetables, Canned Fruit Pulp, Ready-to-eat and Ready-to serve products, etc. [2]

Key Points

Brand Position
Vadilal is the country's second-largest ice cream brand by sales. Vadilal has the largest range of ice creams in the country, with more than 150 flavors sold in more than 300 packs and forms. [1] It has a 16% of organized market share. [2]
Its existing variants like Gourmet, Badabite, Flingo Jumbo Cups, and Ice trooper continue to show substantial movement in the market. [3]
The brand is known to be the first and the only ice cream producer in India to have a machine with a huge capacity of 12 lakh cones per day. It entered into the flavored milk segment under the brand name 'Power Sip', which is available in flavors like ‘Kesar', 'Elaichi', 'Coffee' and 'Rose' packaged uniquely for the brand to stand out in the crowd. [4]

  • Market Cap 3,185 Cr.
  • Current Price 4,430
  • High / Low 5,143 / 2,133
  • Stock P/E 33.3
  • Book Value 532
  • Dividend Yield 0.04 %
  • ROCE 28.4 %
  • ROE 28.5 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 24.8% CAGR over last 5 years

Cons

  • Stock is trading at 8.04 times its book value

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: FMCG Industry: Food - Processing - Indian

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
141 131 147 91 175 349 228 109 211 355 229 129 199
123 119 140 99 144 290 196 118 176 272 194 131 164
Operating Profit 18 12 7 -8 32 60 32 -9 34 83 35 -1 36
OPM % 13% 9% 5% -9% 18% 17% 14% -8% 16% 23% 15% -1% 18%
1 1 3 2 3 3 4 3 2 2 4 4 3
Interest 5 4 4 4 5 4 2 2 4 5 3 3 3
Depreciation 5 5 5 5 5 6 5 5 5 6 6 6 6
Profit before tax 10 3 1 -15 25 53 29 -12 27 75 30 -6 30
Tax % 28% 23% 26% 25% 26% 25% 25% 25% 26% 25% 25% 25% 26%
7 2 1 -11 18 40 21 -9 20 56 23 -4 22
EPS in Rs 9.61 3.16 1.14 -15.35 25.43 55.26 29.69 -13.02 28.16 77.85 31.46 -6.22 30.32
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
321 364 403 444 473 515 507 517 357 544 897 913
283 323 363 387 418 469 440 457 362 501 779 760
Operating Profit 38 40 41 58 55 46 67 60 -5 43 118 152
OPM % 12% 11% 10% 13% 12% 9% 13% 12% -1% 8% 13% 17%
7 0 1 1 3 7 12 8 12 9 12 13
Interest 25 25 26 21 16 15 14 15 20 18 13 14
Depreciation 11 13 13 13 15 16 17 19 18 19 20 23
Profit before tax 9 3 3 24 27 22 49 34 -32 14 96 129
Tax % 34% 46% 41% 40% 38% 33% 35% 7% 24% 27% 25% 25%
6 1 2 14 17 15 31 32 -24 10 72 96
EPS in Rs 8.31 1.99 2.69 19.96 23.14 20.66 43.80 44.73 -33.53 14.39 100.09 133.34
Dividend Payout % 18% 50% 37% 6% 5% 6% 3% -0% -0% 9% 2% 1%
Compounded Sales Growth
10 Years: 10%
5 Years: 12%
3 Years: 37%
TTM: 2%
Compounded Profit Growth
10 Years: 51%
5 Years: 25%
3 Years: 82%
TTM: 33%
Stock Price CAGR
10 Years: 36%
5 Years: 51%
3 Years: 60%
1 Year: 46%
Return on Equity
10 Years: 13%
5 Years: 15%
3 Years: 22%
Last Year: 29%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 7 7 7 7 7 7 7 7 7 7 7 7
Reserves 108 108 108 121 152 166 196 227 203 212 282 375
172 166 152 122 119 141 147 171 148 176 203 129
67 97 103 116 132 121 116 135 143 115 136 134
Total Liabilities 354 378 369 366 411 435 466 540 501 510 627 645
206 227 224 223 250 254 263 301 300 293 301 337
CWIP 16 4 1 1 5 7 13 9 5 3 19 11
Investments 2 1 1 2 2 3 3 3 3 3 8 8
130 145 143 141 155 171 187 227 193 211 299 289
Total Assets 354 378 369 366 411 435 466 540 501 510 627 645

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
34 56 50 64 43 18 39 48 62 -5 33 138
-24 -23 -7 -11 -23 -24 -29 -50 -10 -10 -42 -41
-10 -33 -41 -53 -20 6 -10 9 -50 9 12 -102
Net Cash Flow 0 1 1 -1 0 -0 -0 6 2 -6 3 -5

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 17 17 16 19 11 32 24 23 22 23 15 23
Inventory Days 226 176 180 137 131 115 152 179 207 160 154 132
Days Payable 103 104 122 104 91 90 84 100 167 80 54 55
Cash Conversion Cycle 141 89 74 52 51 56 92 102 61 102 115 100
Working Capital Days 38 19 8 3 13 32 43 53 42 68 69 66
ROCE % 12% 10% 11% 17% 16% 13% 19% 13% -3% 9% 25% 28%

Shareholding Pattern

Numbers in percentages

Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
64.72% 64.72% 64.72% 64.73% 64.72% 64.72% 64.72% 64.72% 64.72% 64.72% 64.72% 64.72%
0.00% 0.00% 0.10% 0.06% 0.11% 0.17% 0.09% 0.03% 0.09% 0.09% 0.45% 0.38%
0.01% 0.01% 0.01% 0.01% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
35.27% 35.27% 35.17% 35.20% 35.15% 35.11% 35.19% 35.25% 35.18% 35.20% 34.83% 34.90%
No. of Shareholders 10,76611,07312,62712,82313,85812,48713,12812,38113,70014,28614,13815,948

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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