Veekayem Fashion & Apparels Ltd
Incorporated in 1985, Veekayem Fashion and Apparels Ltd manufactures
grey fabric, yarn, and ready-made garments[1]
- Market Cap ₹ 60.5 Cr.
- Current Price ₹ 103
- High / Low ₹ 318 / 79.8
- Stock P/E 7.70
- Book Value ₹ 100
- Dividend Yield 0.00 %
- ROCE 14.0 %
- ROE 15.7 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 1.03 times its book value
- Company has delivered good profit growth of 51.1% CAGR over last 5 years
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Company has a low return on equity of 11.0% over last 3 years.
* 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 Garments & Apparels
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 203 | 216 | 77 | 149 | 235 | 244 | 321 | 297 | |
| 193 | 205 | 67 | 139 | 222 | 228 | 298 | 272 | |
| Operating Profit | 11 | 10 | 10 | 10 | 13 | 16 | 23 | 25 |
| OPM % | 5% | 5% | 12% | 7% | 6% | 7% | 7% | 8% |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | |
| Interest | 7 | 7 | 8 | 8 | 9 | 10 | 12 | 13 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 3 |
| Profit before tax | 3 | 2 | 1 | 2 | 3 | 5 | 10 | 10 |
| Tax % | 15% | 30% | 39% | -24% | 42% | 26% | 21% | |
| 2 | 1 | 0 | 2 | 2 | 4 | 8 | 8 | |
| EPS in Rs | 5.31 | 2.54 | 0.72 | 4.40 | 3.08 | 6.86 | 13.00 | 13.38 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 8% |
| 3 Years: | 29% |
| TTM: | 9% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 51% |
| 3 Years: | 60% |
| TTM: | 44% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 33% |
| 1 Year: | -58% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 9% |
| 3 Years: | 11% |
| Last Year: | 16% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4 | 4 | 4 | 4 | 6 | 6 | 6 | 6 |
| Reserves | 23 | 24 | 25 | 27 | 31 | 35 | 50 | 53 |
| 65 | 72 | 81 | 82 | 89 | 96 | 112 | 123 | |
| 25 | 20 | 14 | 20 | 18 | 19 | 38 | 32 | |
| Total Liabilities | 118 | 121 | 123 | 133 | 144 | 155 | 206 | 214 |
| 24 | 22 | 21 | 21 | 23 | 24 | 30 | 31 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 94 | 98 | 102 | 111 | 121 | 131 | 175 | 183 | |
| Total Assets | 118 | 121 | 123 | 133 | 144 | 155 | 206 | 214 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| 5 | 5 | -3 | 6 | 0 | 5 | -3 | |
| -3 | 0 | -0 | -1 | -3 | -3 | -9 | |
| -2 | -5 | 3 | -6 | 3 | -2 | 13 | |
| Net Cash Flow | 0 | 0 | -0 | -2 | -0 | -0 | 0 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 77 | 65 | 158 | 90 | 75 | 92 | 106 |
| Inventory Days | 105 | 111 | 408 | 213 | 128 | 123 | 107 |
| Days Payable | 45 | 32 | 68 | 52 | 26 | 25 | 44 |
| Cash Conversion Cycle | 137 | 144 | 498 | 252 | 177 | 191 | 168 |
| Working Capital Days | 32 | 35 | 82 | 47 | 41 | 42 | 40 |
| ROCE % | 9% | 8% | 8% | 10% | 11% | 14% |
Documents
Announcements
-
Allotment of Securities
7 February 2026 - Allotment of 1,060,392 shares at Rs.192.50; proceeds INR15,30,94,095; conversion Jan 24, 2026.
-
Forfeiture
7 February 2026 - Forfeiture of 25% subscription on 242,508 warrants; deadline Jan 24, 2026; issue price Rs.192.50.
-
Outcome of Board Meeting
7 February 2026 - Allotment of 1,060,392 shares on 7 Feb 2026; forfeiture of 242,508 warrants (25% amounts).
-
Certificate under SEBI (Depositories and Participants) Regulations, 2018
19 January 2026 - KFin certificate under SEBI Regulation 74(5) for quarter ended 31-Dec-2025.
-
Outcome of Board Meeting
25 December 2025 - Board (24–25 Dec 2025) decided not to proceed with proposed equity share fundraising.
Business Overview:[1]
VFAL engages in the processing, manufacturing, dyeing, printing, finishing, and weaving of various textiles. It also deals in synthetic textiles and fabrics, including yarn, cotton, silk, rayon, nylon, polyester, wool, linen, and man-made fibers. VFAL operates as a wholesaler, retailer, broker, and commission agent, handling both wearable and non-wearable textiles.