Vardhman Polytex Ltd

₹ 20.0 1.01%
05 Dec 4:01 p.m.
About

Vardhman Polytex Limited is the flagship company of the Vardhman Group with multiple production facilities located at Bathinda, Ludhiana, Nalagarh. The co is primarily engaged in manufacturing different types of yarns.[1][2]

Key Points

History
The co was incorporated in 1980 as “ Punjab Mohta Polytex”. It came with an IPO in 1987. In 1990, the name was changed to “ Vardhman Polytex Limited”. The installed capacity was increased to 25,000 spindles and a worsted unit was set up with a capacity of 8,000 spindles. [1]

  • Market Cap 44.4 Cr.
  • Current Price 20.0
  • High / Low 34.0 / 17.0
  • Stock P/E
  • Book Value -166
  • Dividend Yield 0.00 %
  • ROCE 28.4 %
  • ROE %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 1.56% over past five years.
  • Promoters have pledged 81.5% of their holding.
  • Earnings include an other income of Rs.30.2 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
97.77 122.89 135.55 42.74 120.56 151.07 193.91 191.52 215.02 244.00 278.06 258.35 101.05
100.54 124.67 131.02 45.91 120.66 151.34 176.13 173.87 198.75 231.99 264.83 255.65 106.58
Operating Profit -2.77 -1.78 4.53 -3.17 -0.10 -0.27 17.78 17.65 16.27 12.01 13.23 2.70 -5.53
OPM % -2.83% -1.45% 3.34% -7.42% -0.08% -0.18% 9.17% 9.22% 7.57% 4.92% 4.76% 1.05% -5.47%
0.74 0.94 175.19 0.66 0.65 0.66 0.64 0.60 1.09 0.78 0.61 2.12 26.69
Interest 15.34 15.53 14.57 15.35 16.54 11.06 16.05 15.21 15.76 15.82 17.36 12.01 14.78
Depreciation 3.78 3.68 3.63 3.67 3.67 3.65 3.55 3.49 3.48 3.44 3.25 3.21 3.11
Profit before tax -21.15 -20.05 161.52 -21.53 -19.66 -14.32 -1.18 -0.45 -1.88 -6.47 -6.77 -10.40 3.27
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%
Net Profit -21.16 -20.06 161.52 -21.53 -19.66 -14.32 -1.18 -0.45 -1.88 -6.46 -6.77 -10.41 3.27
EPS in Rs -9.49 -9.00 72.46 -9.66 -8.82 -6.42 -0.53 -0.20 -0.84 -2.90 -3.04 -4.67 1.47
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
715 748 784 921 941 876 859 618 808 560 507 928 881
607 772 699 829 878 814 792 659 807 560 493 868 859
Operating Profit 108 -24 85 92 63 62 66 -41 1 -0 14 59 22
OPM % 15% -3% 11% 10% 7% 7% 8% -7% 0% -0% 3% 6% 3%
4 20 9 20 -12 50 14 -295 3 177 3 3 30
Interest 49 71 63 75 76 74 60 68 60 60 59 64 60
Depreciation 27 30 37 33 32 28 21 21 18 16 15 14 13
Profit before tax 36 -105 -5 3 -58 9 -1 -424 -74 102 -57 -16 -20
Tax % 26% 22% 123% -44% 50% 0% 0% 0% 0% 0% 0% 0%
Net Profit 27 -81 1 5 -29 9 -1 -424 -74 102 -57 -16 -20
EPS in Rs 16.44 -50.12 0.66 2.41 -12.92 4.05 -0.30 -190.16 -33.31 45.66 -25.43 -6.98 -9.14
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 2%
5 Years: 2%
3 Years: 5%
TTM: 17%
Compounded Profit Growth
10 Years: 6%
5 Years: %
3 Years: 21%
TTM: -159%
Stock Price CAGR
10 Years: -13%
5 Years: -10%
3 Years: 92%
1 Year: -12%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: %

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
16 16 18 20 22 22 22 22 22 22 22 22 22
Reserves 160 78 84 99 106 85 85 -339 -414 -313 -370 -386 -393
482 492 498 465 451 405 396 448 446 490 523 529 510
58 65 85 131 118 115 122 264 269 113 130 161 150
Total Liabilities 716 650 685 715 697 627 626 395 324 313 306 326 288
239 318 295 283 258 239 244 229 211 195 182 170 164
CWIP 30 22 14 8 4 7 5 3 0 0 0 0 0
Investments 133 137 137 137 92 92 92 0 0 0 0 0 0
314 174 239 287 344 290 285 163 112 117 123 156 124
Total Assets 716 650 685 715 697 627 626 395 324 313 306 326 288

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
19 177 72 62 76 108 76 49 63 13 24 61
-24 -98 -1 -11 1 -7 -20 -5 -1 0 -1 -1
16 -96 -49 -64 -79 -104 -55 -50 -64 -14 -23 -61
Net Cash Flow 11 -18 22 -13 -2 -4 1 -5 -1 -0 -0 0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 38 23 26 26 20 31 33 16 4 4 6 4
Inventory Days 114 19 37 55 77 44 47 32 12 18 19 23
Days Payable 17 18 35 39 38 39 42 31 26 53 74 54
Cash Conversion Cycle 135 24 29 42 59 36 38 18 -10 -31 -49 -26
Working Capital Days 101 -10 3 10 28 13 11 -139 -97 -40 -54 -25
ROCE % 14% -8% 9% 13% 9% 15% 12% -18% -16% -10% 1% 28%

Shareholding Pattern

Numbers in percentages

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
60.18 60.18 60.18 60.18 60.18 60.18 60.18 60.18 60.18 60.16 60.16 60.16
1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.15 1.49 1.81 1.83
0.03 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01
38.64 38.66 38.66 38.66 38.66 38.66 38.66 38.66 38.66 38.34 38.02 38.00

* The XBRL reporting format changed from Sep'2022 onwards. The new format added details about banks and foreign portfolio investors. These were not available earlier.
The sudden increase in FII or DII might be because of these changes.

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

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