Vardhman Polytex Ltd

₹ 11.6 -5.24%

13 Jun - close price

oswalgroup.com BSE: 514175 NSE: VARDMNPOLY

About

Incorporated in 1981, Vardhman Polytex
Ltd manufactures yarn and garments^[1]

Key Points

Business Overview:^[1]^[2]
VPL is a flagship company of Oswal Group. It manufactures range of Cotton Yarns (Carded, Combed, Organic, BCI), Cotton Polyester Yarns and Value Added Yarns (Grey and Dyed) in variable counts. Company has entered into arrangement with few vendors, from whom company is purchases raw materials, processes it and sells the finished output back to them

Website BSE NSE

Market Cap ₹ 531 Cr.
Current Price ₹ 11.6
High / Low ₹ 15.4 / 8.31
Stock P/E 35.6
Book Value ₹ -4.96
Dividend Yield 0.00 %
ROCE %
ROE %
Face Value ₹ 1.00

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Pros

Company has reduced debt.

Cons

The company has delivered a poor sales growth of -12.6% over past five years.
Promoter holding is low: 34.2%
Promoters have pledged 69.6% of their holding.
Earnings include an other income of Rs.26.1 Cr.
Company's cost of borrowing seems high
Promoter holding has decreased over last 3 years: -25.9%

* 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

Consumer Discretionary Textiles Textiles & Apparels Other Textile Products

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	278.06	258.35	101.05	92.97	163.14	135.53	100.60	60.81	73.69	64.03	64.40	75.35	81.20
	264.83	255.65	106.58	111.14	178.39	138.70	120.85	78.33	74.65	73.05	68.21	48.66	83.17
Operating Profit	13.23	2.70	-5.53	-18.17	-15.25	-3.17	-20.25	-17.52	-0.96	-9.02	-3.81	26.69	-1.97
OPM %	4.76%	1.05%	-5.47%	-19.54%	-9.35%	-2.34%	-20.13%	-28.81%	-1.30%	-14.09%	-5.92%	35.42%	-2.43%
	0.61	2.12	26.69	51.59	22.95	19.79	1.79	2.87	4.52	5.04	9.36	3.16	8.53
Interest	17.36	12.01	14.78	13.93	12.69	12.83	12.96	-22.58	0.14	4.44	2.60	3.59	3.45
Depreciation	3.25	3.21	3.11	2.97	2.90	2.74	2.65	2.62	2.47	2.33	2.33	2.20	2.13
Profit before tax	-6.77	-10.40	3.27	16.52	-7.89	1.05	-34.07	5.31	0.95	-10.75	0.62	24.06	0.98
Tax %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	-6.77	-10.41	3.27	16.52	-7.89	1.05	-34.07	5.31	0.95	-10.75	0.63	24.06	0.99
EPS in Rs	-0.23	-0.36	0.11	0.57	-0.27	0.04	-1.07	0.15	0.03	-0.30	0.02	0.55	0.02
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	921	941	876	859	618	808	560	507	928	615	376	285
	829	878	814	792	659	807	560	493	868	651	418	273
Operating Profit	92	63	62	66	-41	1	-0	14	59	-36	-42	12
OPM %	10%	7%	7%	8%	-7%	0%	-0%	3%	6%	-6%	-11%	4%
	20	-12	50	14	-295	3	177	3	3	103	29	26
Interest	75	76	74	60	68	60	60	59	64	53	3	14
Depreciation	33	32	28	21	21	18	16	15	14	12	10	9
Profit before tax	3	-58	9	-1	-424	-74	102	-57	-16	2	-27	15
Tax %	-44%	-50%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	5	-29	9	-1	-424	-74	102	-57	-16	1	-27	15
EPS in Rs	0.19	-0.99	0.31	-0.02	-14.57	-2.55	3.50	-1.95	-0.53	0.05	-0.75	0.33
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-11%
5 Years:	-13%
3 Years:	-33%
TTM:	-24%

Compounded Profit Growth
10 Years:	8%
5 Years:	17%
3 Years:	43%
TTM:	134%

Stock Price CAGR
10 Years:	11%
5 Years:	88%
3 Years:	73%
1 Year:	-1%

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

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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	20	22	22	22	22	22	22	22	22	22	27	46
Reserves	109	106	85	85	-339	-414	-313	-370	-386	-385	-388	-273
	465	451	405	396	448	446	490	523	529	447	76	50
	121	118	115	122	264	269	113	130	161	206	560	454
Total Liabilities	715	697	627	626	395	324	313	306	326	291	276	276
	283	258	239	244	229	211	195	182	170	159	130	114
CWIP	8	4	7	5	3	0	0	0	0	0	0	3
Investments	137	92	92	92	0	0	0	0	0	0	0	0
	287	344	290	285	163	112	117	123	156	133	146	160
Total Assets	715	697	627	626	395	324	313	306	326	291	276	276

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	62	76	108	76	49	63	13	24	61	40	-14	-98
	-11	1	-7	-20	-5	-1	0	-1	-1	-1	26	31
	-64	-79	-104	-55	-50	-64	-14	-23	-61	-39	-12	67
Net Cash Flow	-13	-2	-4	1	-5	-1	-0	-0	0	0	1	-1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	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	26	20	31	33	16	4	4	6	4	0	0	5
Inventory Days	55	77	44	47	32	12	18	19	23	11	19	77
Days Payable	39	38	39	42	31	26	53	74	54	99	209	171
Cash Conversion Cycle	42	59	36	38	18	-10	-31	-49	-26	-88	-190	-88
Working Capital Days	10	28	13	11	-139	-97	-40	-54	-25	-81	-137	-45
ROCE %	13%	9%	15%	12%	-18%	-16%	-10%	1%	28%	-34%

Shareholding Pattern

Numbers in percentages

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	60.16%	60.16%	60.16%	60.16%	60.16%	55.21%	49.14%	49.14%	49.14%	49.14%	30.75%	34.22%
	1.81%	1.83%	1.96%	2.82%	1.52%	1.40%	0.65%	0.38%	0.24%	0.32%	0.64%	0.54%
	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.00%	0.00%
	38.02%	38.00%	37.87%	37.02%	38.31%	43.40%	50.20%	50.47%	50.62%	50.53%	68.60%	65.24%
No. of Shareholders	16,467	16,429	16,437	16,085	14,752	13,825	13,529	13,371	19,674	23,189	26,802	26,725

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	60.13%	60.13%	60.18%	60.18%	60.18%	60.16%	60.16%	49.14%	34.22%
	1.15%	1.15%	1.15%	1.15%	1.15%	1.49%	2.82%	0.38%	0.54%
	0.01%	0.20%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.00%
	38.70%	38.52%	38.66%	38.66%	38.66%	38.34%	37.02%	50.47%	65.24%
No. of Shareholders	16,035	17,995	16,874	16,317	16,673	16,344	16,085	13,371	26,725

* 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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Vardhman Polytex Ltd

Vardhman Polytex Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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