Varvee Global Ltd

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Varvee Global Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents
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Varvee Global Ltd

₹ 51.6 5.20%
26 Oct 10:40 a.m.
aarvee-denims.com BSE: 514274 NSE: VGL
About

Varvee Global Ltd (formerly Aarvee Denims
& Exports Ltd) is an Ahmedabad-based textile company operating from the Narol facility.
After a 2024–25 control change, it is pivoting from denim manufacturing to non-denim shirting/suiting, B2B job work, trading and leasing; it incorporated a renewable-energy subsidiary in July 2026.

Key Points

Business Overview:[1]
The integrated mill processes denim/non-
denim fabrics including indigo, stretch and fashion denim, cotton, poplin, shirting and suiting.
The co. new management prioritises non-
denim and B2B job work—customers supply yarn/input and VGL earns conversion revenue—plus fabric trading and factory leasing. But in Q1 FY27, it had no finished-goods production. No retail, TV-commerce or digital-sales channel is disclosed; promoter-owned Barcelona is separate.[2]

Manufacturing Capacity:[3]
The Narol, Ahmedabad site spans approx. 52,000 sq yards with 35 million metres
/year denim and 12 million metres non-denim capacity; management later cited approximately 18 million metres and planned low-capex denim-line conversion.[4]

Website BSE NSE
  • Market Cap ₹ 266 Cr.
  • Current Price ₹ 51.6
  • High / Low ₹ 84.8 / 43.7
  • Stock P/E 29.4
  • Book Value ₹ 15.3
  • Dividend Yield 0.00 %
  • ROCE %
  • ROE %
  • Face Value ₹ 5.00
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Pros

  • Company is almost debt free.

Cons

  • Stock is trading at 3.27 times its book value
  • Earnings include an other income of Rs.19.8 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.

Peer comparison

Consumer Discretionary Textiles Textiles & Apparels Other Textile Products

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Sep 2025 Jun 2026 Sep 2026
216.64 177.67 176.70 180.54 167.74 168.07 110.94 117.93 27.83 8.26 19.61
197.60 158.66 155.66 157.43 171.28 161.90 97.08 100.34 13.98 15.12 16.76
Operating Profit 19.04 19.01 21.04 23.11 -3.54 6.17 13.86 17.59 13.85 -6.86 2.85
OPM % 8.79% 10.70% 11.91% 12.80% -2.11% 3.67% 12.49% 14.92% 49.77% -83.05% 14.53%
1.19 0.93 0.25 0.43 0.38 0.40 0.62 0.33 6.49 0.63 8.07
Interest 11.38 11.33 12.48 14.10 12.45 13.20 12.89 14.44 0.00 0.01 0.05
Depreciation 7.96 8.29 8.35 9.38 9.56 9.58 9.59 9.62 1.53 0.63 0.56
Profit before tax 0.89 0.32 0.46 0.06 -25.17 -16.21 -8.00 -6.14 18.81 -6.87 10.31
Tax % 35.96% 162.50% 30.43% -550.00% -0.83% 2.65% 2.38% -228.34% 45.67% -4.51% 34.04%
0.57 -0.20 0.32 0.40 -24.97 -16.64 -8.19 7.88 10.21 -6.56 6.79
EPS in Rs 0.12 -0.04 0.07 0.09 -5.32 -3.55 -1.75 1.68 1.98 -1.27 1.32
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2026
827 752 565 63
747 669 529 57
Operating Profit 80 82 36 5
OPM % 10% 11% 6% 9%
3 3 -0 20
Interest 43 49 53 1
Depreciation 33 34 38 5
Profit before tax 6 2 -56 18
Tax % 12% 37% -24% 32%
6 1 -42 12
EPS in Rs 1.20 0.23 -8.94 2.42
Dividend Payout % 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: %
TTM: %
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: %
Stock Price CAGR
10 Years: 1%
5 Years: 30%
3 Years: 62%
1 Year: -24%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: %

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Sep 2026
Equity Capital 23 23 23 26
Reserves 248 250 208 53
379 434 419 4
268 241 193 75
Total Liabilities 919 949 843 158
363 389 350 29
CWIP 0 0 0 0
Investments 0 0 0 6
556 560 492 123
Total Assets 919 949 843 158

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2026
38 51 65
-19 -53 5
-19 3 -70
Net Cash Flow 0 0 -1
Free Cash Flow 22 -10 63
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit 48% 63% 181%

Ratios

Consolidated / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2026
Debtor Days 130 140 152
Inventory Days 146 189 234
Days Payable 151 167 167
Cash Conversion Cycle 125 161 219
Working Capital Days 1 16 200
ROCE % 8% -0%

Insights

In beta
Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Energy Consumption per Unit of Fabric Production
KWH per meter ・Standalone data

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Foreign Exchange Earnings (Exports Proxy)
Rs Lakhs ・Standalone data
Number of Permanent Employees
employees ・Standalone data

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Shareholding Pattern

Numbers in percentages

2 Recently
Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
65.80% 65.80% 65.80% 60.81% 60.81% 38.77% 30.56% 65.64% 65.64% 65.64% 65.64% 65.64%
0.00% 0.00% 0.00% 0.37% 0.25% 0.00% 0.01% 0.00% 0.00% 0.01% 0.58% 0.69%
2.10% 2.10% 2.10% 0.00% 0.00% 0.07% 1.30% 1.30% 1.30% 1.30% 1.30% 1.30%
32.08% 32.10% 32.09% 38.81% 38.94% 61.16% 68.14% 33.07% 33.06% 33.06% 32.49% 32.38%
No. of Shareholders 10,56611,43911,30310,43910,18110,20210,25210,3419,8988,2419,1139,381

* 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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Documents

Announcements

Annual reports

Credit ratings

Concalls

  • May 2026
    Transcript
    AI Summary
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  • Feb 2026
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    AI Summary
    PPT
  • Dec 2025
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  • Nov 2025
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    AI Summary
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