Vadilal Industries Ltd
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]
- Market Cap ₹ 3,667 Cr.
- Current Price ₹ 5,102
- High / Low ₹ 7,399 / 3,411
- Stock P/E 26.2
- Book Value ₹ 967
- Dividend Yield 0.41 %
- ROCE 25.4 %
- ROE 24.3 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 29.6% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 27.5%
Cons
- Company might be capitalizing the interest cost
- Working capital days have increased from 54.3 days to 83.3 days
* 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
367 | 406 | 450 | 482 | 547 | 567 | 599 | 463 | 698 | 1,058 | 1,125 | 1,238 | 1,280 | |
327 | 367 | 391 | 425 | 499 | 494 | 521 | 428 | 599 | 892 | 904 | 1,000 | 1,055 | |
Operating Profit | 40 | 39 | 58 | 57 | 48 | 73 | 79 | 36 | 99 | 166 | 221 | 238 | 225 |
OPM % | 11% | 10% | 13% | 12% | 9% | 13% | 13% | 8% | 14% | 16% | 20% | 19% | 18% |
2 | 3 | 1 | 3 | 6 | 10 | 10 | 16 | 8 | 10 | 12 | 17 | 18 | |
Interest | 25 | 26 | 21 | 16 | 15 | 14 | 17 | 21 | 19 | 16 | 18 | 14 | 14 |
Depreciation | 13 | 13 | 14 | 15 | 16 | 17 | 24 | 23 | 24 | 30 | 35 | 42 | 43 |
Profit before tax | 4 | 4 | 24 | 29 | 23 | 52 | 48 | 8 | 64 | 131 | 180 | 200 | 185 |
Tax % | 36% | 36% | 40% | 35% | 32% | 36% | 14% | 40% | 30% | 26% | 19% | 25% | |
2 | 2 | 15 | 19 | 16 | 33 | 41 | 5 | 45 | 96 | 146 | 150 | 140 | |
EPS in Rs | 3.20 | 3.39 | 20.53 | 26.52 | 21.79 | 46.41 | 57.57 | 6.44 | 62.19 | 133.96 | 203.05 | 209.15 | 194.63 |
Dividend Payout % | 31% | 29% | 6% | 5% | 6% | 3% | 0% | 0% | 2% | 1% | 1% | 10% |
Compounded Sales Growth | |
---|---|
10 Years: | 12% |
5 Years: | 16% |
3 Years: | 21% |
TTM: | 9% |
Compounded Profit Growth | |
---|---|
10 Years: | 55% |
5 Years: | 30% |
3 Years: | 50% |
TTM: | -8% |
Stock Price CAGR | |
---|---|
10 Years: | 26% |
5 Years: | 46% |
3 Years: | 26% |
1 Year: | 23% |
Return on Equity | |
---|---|
10 Years: | 20% |
5 Years: | 23% |
3 Years: | 27% |
Last Year: | 24% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 |
Reserves | 106 | 106 | 120 | 154 | 168 | 200 | 240 | 244 | 290 | 390 | 535 | 688 |
166 | 152 | 122 | 119 | 141 | 148 | 174 | 158 | 186 | 291 | 223 | 218 | |
97 | 104 | 117 | 134 | 123 | 122 | 153 | 159 | 140 | 150 | 151 | 182 | |
Total Liabilities | 376 | 370 | 366 | 414 | 439 | 477 | 574 | 567 | 623 | 838 | 917 | 1,096 |
228 | 226 | 225 | 251 | 257 | 267 | 318 | 312 | 307 | 403 | 444 | 478 | |
CWIP | 4 | 1 | 1 | 5 | 7 | 13 | 9 | 5 | 3 | 20 | 12 | 10 |
Investments | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 5 | 16 | 22 |
144 | 143 | 141 | 158 | 175 | 196 | 247 | 250 | 313 | 410 | 445 | 586 | |
Total Assets | 376 | 370 | 366 | 414 | 439 | 477 | 574 | 567 | 623 | 838 | 917 | 1,096 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
55 | 50 | 64 | 46 | 17 | 44 | 67 | 82 | 32 | 39 | 192 | 130 | |
-21 | -8 | -11 | -23 | -24 | -31 | -67 | -11 | -20 | -62 | -66 | -77 | |
-33 | -41 | -53 | -20 | 6 | -10 | 4 | -56 | 8 | 9 | -114 | -61 | |
Net Cash Flow | 1 | 1 | -1 | 3 | -1 | 4 | 4 | 16 | 20 | -13 | 12 | -8 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 15 | 14 | 18 | 8 | 28 | 20 | 27 | 36 | 34 | 27 | 31 | 36 |
Inventory Days | 178 | 144 | 138 | 135 | 119 | 157 | 179 | 211 | 170 | 167 | 146 | 188 |
Days Payable | 104 | 96 | 104 | 92 | 91 | 86 | 98 | 165 | 85 | 58 | 62 | 81 |
Cash Conversion Cycle | 89 | 62 | 51 | 51 | 56 | 91 | 107 | 81 | 119 | 135 | 115 | 143 |
Working Capital Days | -40 | -49 | -40 | -37 | -4 | -5 | -14 | -20 | 17 | 29 | 50 | 83 |
ROCE % | 10% | 10% | 18% | 17% | 13% | 20% | 17% | 7% | 19% | 26% | 27% | 25% |
Documents
Announcements
- Reg. 34 (1) Annual Report. 26 Aug
-
Business Responsibility and Sustainability Reporting (BRSR)
26 Aug - BRSR filed for FY2024-25 (Annual Report); turnover Rs1,011.33 crore. Dated 26 Aug 2025.
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Reg. 34 (1) Annual Report.
26 Aug - AGM notice for Sep 19, 2025; FY25 annual report; recommends ₹21/share dividend; appoint Walker Chandiok auditors; FY25 revenue ₹1,011.33cr; PAT ₹113.88cr.
- Book Closure Intimation 12 Aug
-
Board Meeting Outcome for Outcome Of The Board Meeting Held On 12Th August, 2025
12 Aug - Q1 FY2025-26 unaudited results approved; secretarial auditor appointed; 41st AGM scheduled for Sept 19, 2025.
Annual reports
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Financial Year 2025
from bse
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Financial Year 2024
from bse
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Financial Year 2023
from bse
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Financial Year 2022
from bse
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Financial Year 2021
from bse
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Financial Year 2020
from bse
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Financial Year 2019
from bse
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Financial Year 2018
from bse
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Financial Year 2017
from bse
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Financial Year 2016
from bse
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Financial Year 2015
from bse
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Financial Year 2014
from bse
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Financial Year 2013
from bse
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Financial Year 2013
from nse
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Financial Year 2012
from bse
Corporate Restrucuring[1]
Resolution of Gandhi family disputes : The three branches of the Gandhi family, key promoters of Vadilal, signed a memorandum of family arrangement to settle long-standing inter-se disputes.