Vardhman Acrylics Ltd

Vardhman Acrylic Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Vardhman Acrylics Ltd

₹ 57.7 0.26%
25 Apr - close price
Company website NSE : VARDHACRLC
About

Incorporated in 1990, Vardhman Acrylics Ltd is a manufacturer and supplier of Acrylic Fibre and Tow[1]

Key Points

Business Overview:[1]
VAL is among the top three players in the acrylic fiber segment in India. It holds around 90% of the total operational capacity in the domestic acrylic fiber industry. It is a part of Vardhman Textiles Ltd which holds 70.74% stake in VAL and provides managerial and operational support. Company markets acrylic fibre under the Varlan brand. Acrylic fiber is used to manufacture hand-knitted yarn, blankets, jerseys, sweaters, saris, upholstery, and carpets

Website NSE
  • Market Cap ₹ 464 Cr.
  • Current Price ₹ 57.7
  • High / Low ₹ 74.9 / 48.0
  • Stock P/E 28.7
  • Book Value ₹ 31.4
  • Dividend Yield 4.33 %
  • ROCE 18.9 %
  • ROE 14.4 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 480%
  • Company's working capital requirements have reduced from 23.0 days to 15.4 days

Cons

  • The company has delivered a poor sales growth of 5.47% over past five years.
  • Company has a low return on equity of 9.93% over last 3 years.
  • Earnings include an other income of Rs.13.8 Cr.

* 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: Textiles Industry: Textiles - Manmade

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Quarterly Results

Figures in Rs. Crores

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
84.59 108.76 47.46 62.79 105.05 102.42 122.19 118.60 108.18 80.60 80.80 86.41 61.89
63.79 75.97 36.77 58.38 90.98 108.35 105.43 111.05 96.73 77.39 82.30 81.09 57.02
Operating Profit 20.80 32.79 10.69 4.41 14.07 -5.93 16.76 7.55 11.45 3.21 -1.50 5.32 4.87
OPM % 24.59% 30.15% 22.52% 7.02% 13.39% -5.79% 13.72% 6.37% 10.58% 3.98% -1.86% 6.16% 7.87%
0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.91 3.67 3.31 3.54 3.95 2.96
Interest 0.04 0.39 0.06 0.11 0.12 0.10 0.09 0.06 0.07 0.07 0.06 0.07 0.03
Depreciation 1.36 1.33 1.35 1.36 1.37 1.34 1.36 1.38 1.39 1.36 1.40 1.42 1.46
Profit before tax 19.40 31.07 9.28 2.94 12.58 -7.37 15.31 9.02 13.66 5.09 0.58 7.78 6.34
Tax % 23.56% 26.20% 17.35% 16.67% 20.59% 24.69% 23.51% 23.73% 24.30% 22.99% 20.69% 20.57% 11.67%
14.83 22.93 7.67 2.45 9.99 -5.55 11.71 6.88 10.34 3.92 0.46 6.18 5.60
EPS in Rs 1.85 2.85 0.95 0.30 1.24 -0.69 1.46 0.86 1.29 0.49 0.06 0.77 0.70
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
390 436 468 498 448 368 327 392 334 280 303 427 310
356 394 418 465 403 331 295 364 308 232 294 390 298
Operating Profit 34 42 50 34 44 38 31 28 27 48 9 36 12
OPM % 9% 10% 11% 7% 10% 10% 10% 7% 8% 17% 3% 8% 4%
13 8 21 16 22 25 21 25 27 15 14 13 14
Interest 0 1 1 0 0 0 1 0 0 1 0 0 0
Depreciation 11 11 11 5 4 5 5 5 5 5 5 5 6
Profit before tax 35 38 59 45 62 57 47 47 48 57 17 43 20
Tax % 31% 36% 26% 25% 34% 28% 17% 26% 3% 25% 16% 24%
24 24 44 33 41 41 39 34 46 43 15 33 16
EPS in Rs 2.58 4.70 3.59 4.38 5.12 4.80 4.29 5.76 5.34 1.81 4.09 2.02
Dividend Payout % 0% 0% 0% 28% 114% 29% 42% 58% 0% 0% 1,380% 61%
Compounded Sales Growth
10 Years: 0%
5 Years: 5%
3 Years: 8%
TTM: -31%
Compounded Profit Growth
10 Years: 3%
5 Years: -3%
3 Years: -11%
TTM: -31%
Stock Price CAGR
10 Years: 14%
5 Years: 7%
3 Years: 17%
1 Year: 11%
Return on Equity
10 Years: 12%
5 Years: 11%
3 Years: 10%
Last Year: 14%

Balance Sheet

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 109 95 93 93 93 80 80 80 80 80 80 80 80
Reserves 142 165 208 228 225 215 239 253 275 318 132 165 172
8 4 2 1 1 1 1 1 1 0 3 0 0
47 55 82 108 77 127 92 119 96 86 87 97 90
Total Liabilities 306 319 385 430 395 423 413 453 453 485 302 342 342
96 86 75 72 61 58 55 52 64 59 56 54 56
CWIP 0 0 3 2 0 0 0 0 0 0 0 4 1
Investments 89 135 194 263 256 248 260 284 160 232 134 172 169
121 98 113 92 78 117 99 118 229 194 112 112 116
Total Assets 306 319 385 430 395 423 413 453 453 485 302 342 342

Cash Flows

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
28 24 43 55 23 42 3 26 4 39 -9 39
-32 3 -44 -58 43 30 7 -8 80 -83 190 -37
6 -20 -5 -1 -68 -63 -15 -20 -24 -1 -198 -3
Net Cash Flow 1 7 -6 -3 -2 8 -5 -2 61 -44 -17 -1

Ratios

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 8 2 8 1 2 5 23 15 10 20 13 11
Inventory Days 68 72 78 63 62 123 85 94 92 139 121 108
Days Payable 22 31 45 60 37 100 66 84 83 89 75 70
Cash Conversion Cycle 53 43 41 5 27 28 41 24 20 69 59 49
Working Capital Days 83 42 32 -2 12 -5 11 4 -1 21 32 15
ROCE % 14% 15% 18% 12% 19% 19% 15% 14% 14% 15% 6% 19%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
74.97% 74.97% 74.97% 74.97% 74.97% 74.97% 74.97% 74.97% 74.97% 74.97% 74.97% 74.97%
0.00% 0.00% 0.00% 0.00% 0.00% 0.38% 0.14% 0.13% 0.13% 0.14% 0.13% 0.16%
0.00% 0.19% 0.36% 0.45% 0.37% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
25.03% 24.83% 24.67% 24.58% 24.66% 24.64% 24.89% 24.90% 24.90% 24.89% 24.90% 24.87%
No. of Shareholders 13,03522,39624,25625,14427,28528,08729,18529,20429,05028,15228,76129,292

* 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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