Vardhman Polytex Ltd

₹ 12.4 1.73%

13 Dec - 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 ₹ 514 Cr.
Current Price ₹ 12.4
High / Low ₹ 13.8 / 5.72
Stock P/E
Book Value ₹ -10.4
Dividend Yield 0.00 %
ROCE %
ROE %
Face Value ₹ 1.00

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Pros

Company has reduced debt.

Cons

Promoter holding has decreased over last quarter: -16.8%
The company has delivered a poor sales growth of -14.2% over past five years.
Promoter holding is low: 32.3%
Promoters have pledged 81.5% of their holding.

* 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 - Cotton/Blended

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	215.02	244.00	278.06	258.35	101.05	92.97	163.14	135.53	100.60	60.81	73.69	64.03	64.40
	198.75	231.99	264.83	255.65	106.58	111.14	178.39	138.70	120.85	78.33	74.65	73.05	68.21
Operating Profit	16.27	12.01	13.23	2.70	-5.53	-18.17	-15.25	-3.17	-20.25	-17.52	-0.96	-9.02	-3.81
OPM %	7.57%	4.92%	4.76%	1.05%	-5.47%	-19.54%	-9.35%	-2.34%	-20.13%	-28.81%	-1.30%	-14.09%	-5.92%
	1.09	0.78	0.61	2.12	26.69	51.59	22.95	19.79	1.79	2.87	4.52	5.04	9.36
Interest	15.76	15.82	17.36	12.01	14.78	13.93	12.69	12.83	12.96	-22.58	0.14	4.44	2.60
Depreciation	3.48	3.44	3.25	3.21	3.11	2.97	2.90	2.74	2.65	2.62	2.47	2.33	2.33
Profit before tax	-1.88	-6.47	-6.77	-10.40	3.27	16.52	-7.89	1.05	-34.07	5.31	0.95	-10.75	0.62
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%
	-1.88	-6.46	-6.77	-10.41	3.27	16.52	-7.89	1.05	-34.07	5.31	0.95	-10.75	0.63
EPS in Rs	-0.06	-0.22	-0.23	-0.36	0.11	0.57	-0.27	0.04	-1.07	0.15	0.03	-0.30	0.02
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	784	921	941	876	859	618	808	560	507	928	615	376	263
	699	829	878	814	792	659	807	560	493	868	651	418	294
Operating Profit	85	92	63	62	66	-41	1	-0	14	59	-36	-42	-31
OPM %	11%	10%	7%	7%	8%	-7%	0%	-0%	3%	6%	-6%	-11%	-12%
	9	20	-12	50	14	-295	3	177	3	3	103	29	22
Interest	63	75	76	74	60	68	60	60	59	64	53	3	-15
Depreciation	37	33	32	28	21	21	18	16	15	14	12	10	10
Profit before tax	-5	3	-58	9	-1	-424	-74	102	-57	-16	2	-27	-4
Tax %	-123%	-44%	-50%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	1	5	-29	9	-1	-424	-74	102	-57	-16	1	-27	-4
EPS in Rs	0.05	0.19	-0.99	0.31	-0.02	-14.57	-2.55	3.50	-1.95	-0.53	0.05	-0.75	-0.10
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-9%
5 Years:	-14%
3 Years:	-10%
TTM:	-47%

Compounded Profit Growth
10 Years:	%
5 Years:	7%
3 Years:	7%
TTM:	96%

Stock Price CAGR
10 Years:	10%
5 Years:	115%
3 Years:	70%
1 Year:	87%

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

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	18	20	22	22	22	22	22	22	22	22	22	27	27
Reserves	84	109	106	85	85	-339	-414	-313	-370	-386	-385	-388	-399
	498	465	451	405	396	448	446	490	523	529	447	76	69
	85	121	118	115	122	264	269	113	130	161	206	560	553
Total Liabilities	685	715	697	627	626	395	324	313	306	326	291	276	250
	295	283	258	239	244	229	211	195	182	170	159	130	122
CWIP	14	8	4	7	5	3	0	0	0	0	0	0	0
Investments	137	137	92	92	92	0	0	0	0	0	0	0	0
	239	287	344	290	285	163	112	117	123	156	133	146	128
Total Assets	685	715	697	627	626	395	324	313	306	326	291	276	250

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	72	62	76	108	76	49	63	13	24	61	40	-14
	-1	-11	1	-7	-20	-5	-1	0	-1	-1	-1	26
	-49	-64	-79	-104	-55	-50	-64	-14	-23	-61	-39	-12
Net Cash Flow	22	-13	-2	-4	1	-5	-1	-0	-0	0	0	1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	26	26	20	31	33	16	4	4	6	4	0	0
Inventory Days	37	55	77	44	47	32	12	18	19	23	11	19
Days Payable	35	39	38	39	42	31	26	53	74	54	99	209
Cash Conversion Cycle	29	42	59	36	38	18	-10	-31	-49	-26	-88	-190
Working Capital Days	3	10	28	13	11	-139	-97	-40	-54	-25	-81	-137
ROCE %	9%	13%	9%	15%	12%	-18%	-16%	-10%	1%	28%	-34%

Shareholding Pattern

Numbers in percentages

5 Recently

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Nov 2024
	60.16%	60.16%	60.16%	60.16%	60.16%	60.16%	55.21%	49.14%	49.14%	49.14%	49.14%	32.31%
	1.49%	1.81%	1.83%	1.96%	2.82%	1.52%	1.40%	0.65%	0.38%	0.24%	0.32%	0.24%
	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.00%
	38.34%	38.02%	38.00%	37.87%	37.02%	38.31%	43.40%	50.20%	50.47%	50.62%	50.53%	67.44%
No. of Shareholders	16,344	16,467	16,429	16,437	16,085	14,752	13,825	13,529	13,371	19,674	23,189	23,692

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Nov 2024
	60.13%	60.13%	60.18%	60.18%	60.18%	60.16%	60.16%	49.14%	32.31%
	1.15%	1.15%	1.15%	1.15%	1.15%	1.49%	2.82%	0.38%	0.24%
	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%	67.44%
No. of Shareholders	16,035	17,995	16,874	16,317	16,673	16,344	16,085	13,371	23,692

* 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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