Vadilal Industries Ltd

₹ 7,411 -4.36%

17 Aug - close price

vadilalgroup.com BSE: 519156 NSE: VADILALIND

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

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.

Website BSE NSE

Market Cap ₹ 5,336 Cr.
Current Price ₹ 7,411
High / Low ₹ 8,447 / 3,990
Stock P/E 24.4
Book Value ₹ 1,183
Dividend Yield 0.28 %
ROCE 22.2 %
ROE 20.1 %
Face Value ₹ 10.0

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Pros

Company is expected to give good quarter

Cons

* 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

Fast Moving Consumer Goods Fast Moving Consumer Goods Food Products Dairy Products

Part of BSE 1000 BSE Fast Moving Consumer Goods

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	411	289	174	251	464	296	204	275	507	341	239	416	680
	307	230	163	206	351	235	178	236	406	290	227	331	514
Operating Profit	104	59	11	46	113	61	26	39	100	51	11	85	166
OPM %	25%	20%	6%	18%	24%	20%	13%	14%	20%	15%	4.7%	20%	24%
	2	4	4	3	4	5	4	3	4	7	4	7	27
Interest	6	4	4	4	4	3	3	4	4	4	4	5	4
Depreciation	9	9	8	9	11	11	10	11	12	12	12	14	15
Profit before tax	92	50	3	35	103	52	17	27	89	43	-0	73	174
Tax %	23%	24%	-210%	21%	25%	25%	31%	19%	25%	23%	150%	25%	25%
	71	38	9	28	77	39	12	22	67	33	-0	55	131
EPS in Rs	98.81	52.94	12.86	38.45	107.71	54.23	16.60	30.61	93.19	46.50	-0.22	76.32	182.13
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	406	450	482	547	567	599	463	698	1,058	1,125	1,238	1,503	1,676
	367	391	425	499	494	521	428	599	892	904	999	1,254	1,362
Operating Profit	39	58	57	48	73	79	36	99	166	221	239	249	314
OPM %	10%	13%	12%	9%	13%	13%	8%	14%	16%	20%	19%	17%	19%
	3	1	3	6	10	10	16	8	10	12	17	22	46
Interest	26	21	16	15	14	17	21	19	16	18	14	16	17
Depreciation	13	14	15	16	17	24	23	24	30	35	42	49	52
Profit before tax	4	24	29	23	52	48	8	64	131	180	200	205	290
Tax %	36%	40%	35%	32%	36%	14%	40%	30%	26%	19%	25%	24%
	2	15	19	16	33	41	5	45	96	146	150	155	219
EPS in Rs	3.39	20.53	26.52	21.79	46.41	57.57	6.44	62.19	133.96	203.05	209.15	215.78	304.73
Dividend Payout %	29%	6%	5%	6%	3%	0%	0%	2%	1%	1%	10%	20%

Compounded Sales Growth
10 Years:	13%
5 Years:	27%
3 Years:	12%
TTM:	31%

Compounded Profit Growth
10 Years:	27%
5 Years:	103%
3 Years:	16%
TTM:	57%

Stock Price CAGR
10 Years:	28%
5 Years:	46%
3 Years:	39%
1 Year:	51%

Return on Equity
10 Years:	20%
5 Years:	24%
3 Years:	24%
Last Year:	20%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	7	7	7	7	7	7	7	7	7	7	7	7
Reserves	106	120	154	168	200	240	244	290	390	535	688	843
	152	122	119	141	148	174	158	186	291	223	218	230
	104	117	134	123	122	153	159	140	150	151	181	193
Total Liabilities	370	366	414	439	477	574	567	623	838	917	1,094	1,273
	226	225	251	257	267	318	312	307	403	444	478	536
CWIP	1	1	5	7	13	9	5	3	20	12	10	20
Investments	0	0	1	1	1	1	1	1	5	16	22	21
	143	141	158	175	196	247	250	313	410	445	584	696
Total Assets	370	366	414	439	477	574	567	623	838	917	1,094	1,273

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	50	64	46	17	44	67	82	32	39	192	130	143
	-8	-11	-23	-24	-31	-67	-11	-20	-62	-66	-77	-108
	-41	-53	-20	6	-10	4	-56	8	9	-114	-61	-38
Net Cash Flow	1	-1	3	-1	4	4	16	20	-13	12	-8	-2
Free Cash Flow	42	51	22	-8	12	-2	67	11	-18	133	52	47
CFO/OP	130%	116%	92%	45%	82%	101%	236%	44%	50%	108%	71%	76%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	14	18	8	28	20	27	36	34	27	31	36	43
Inventory Days	144	138	135	119	157	179	211	170	167	146	188	163
Days Payable	96	104	92	91	86	98	165	85	58	62	81	59
Cash Conversion Cycle	62	51	51	56	91	107	81	119	135	115	143	148
Working Capital Days	-49	-40	-37	-4	-5	-14	-20	17	29	50	78	92
ROCE %	10%	18%	17%	13%	20%	17%	7%	19%	26%	27%	25%	22%

Insights

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Daily Ice Cream Production Capacity
litres/day ・Standalone data

xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx
xx	xx	xx	xx	xx	xx	xx	xx	xx
xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xxx,xxx	xxx,xxx
xxx	xxx	xxx	xxx	xxx	xxx	xxx	xxx	xxx
xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx
xxx	xxx	xxx	xxx	xxx	xxx	xxx	xxx	xxx
		xx					xx	xx
					xx	xx		xx

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Number of Countries Exported To
count

Number of Dealers/Retailers/Trade Partners
count

Number of Distribution Vehicles
count

Number of Distributors
count

Number of Stock Keeping Units (SKUs)
count

Market Share in Organized Indian Ice Cream Segment
%

Number of Ice Cream Parlours
count

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

2 Recently

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	64.72%	64.72%	64.72%	64.72%	64.72%	64.72%	64.72%	64.72%	64.72%	64.72%	64.72%	64.72%
	0.09%	0.09%	0.45%	0.38%	0.35%	0.30%	0.68%	0.77%	0.57%	0.56%	0.58%	1.02%
	0.00%	0.00%	0.00%	0.00%	0.05%	0.00%	0.00%	0.44%	0.47%	0.42%	0.42%	1.26%
	35.18%	35.20%	34.83%	34.90%	34.88%	34.97%	34.58%	34.06%	34.23%	34.29%	34.27%	33.01%
No. of Shareholders	13,700	14,286	14,138	15,948	19,677	17,827	18,717	20,622	19,638	19,230	22,133	19,041

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	65.16%	64.72%	64.73%	64.72%	64.72%	64.72%	64.72%	64.72%	64.72%	64.72%	64.72%
	0.00%	0.15%	0.67%	0.00%	0.00%	0.10%	0.09%	0.45%	0.68%	0.58%	1.02%
	0.23%	0.20%	0.14%	0.34%	0.01%	0.01%	0.00%	0.00%	0.00%	0.42%	1.26%
	34.61%	34.93%	34.47%	34.94%	35.27%	35.17%	35.19%	34.83%	34.58%	34.27%	33.01%
No. of Shareholders	13,505	14,877	17,388	12,578	11,300	12,627	13,128	14,138	18,717	22,133	19,041

* 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.

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