Veekayem Fashion & Apparels Ltd
Incorporated in 1985, Veekayem Fashion and Apparels Ltd manufactures
grey fabric, yarn, and ready-made garments[1]
- Market Cap ₹ 74.7 Cr.
- Current Price ₹ 127
- High / Low ₹ 318 / 79.8
- Stock P/E 9.50
- Book Value ₹ 100
- Dividend Yield 0.00 %
- ROCE 14.0 %
- ROE 15.7 %
- Face Value ₹ 10.0
Pros
- 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: | 46% |
| 1 Year: | -50% |
| 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 |
| Free Cash Flow | 2 | 5 | -4 | 5 | -3 | 2 | -13 |
| CFO/OP | 51% | 47% | -34% | 63% | 8% | 37% | -4% |
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% |
Insights
In beta| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Total Permanent Employees Numbers |
|
||||
| Revenue Mix - Men's Wear % |
|||||
| Installed Fabric Manufacturing Capacity Meters per month |
|||||
| Installed Readymade Garments Manufacturing Capacity Pieces per month |
|||||
| Operating Cycle Days |
|||||
| Export Sales Concentration % |
|||||
Documents
Announcements
-
Outcome of Board Meeting
4 April 2026 - Board approved raising authorised share capital from ₹11 crore to ₹20 crore, subject to EGM approval.
-
Trading Window
27 March 2026 - Trading window closed from 01 Apr 2026 until 48 hours after unaudited FY2026 results; board date pending.
-
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).
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.