Vardhman Holdings Ltd
Incorporated in 1962, Vardhman Holdings Ltd is in the business of lending and investing activities[1]
- Market Cap ₹ 1,295 Cr.
- Current Price ₹ 4,059
- High / Low ₹ 5,760 / 2,850
- Stock P/E 37.0
- Book Value ₹ 2,947
- Dividend Yield 0.12 %
- ROCE 5.56 %
- ROE 3.96 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company's working capital requirements have reduced from 229 days to 37.2 days
Cons
- The company has delivered a poor sales growth of 7.41% over past five years.
- Company has a low return on equity of 2.87% over last 3 years.
- Dividend payout has been low at 10.8% of profits 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
Financial Services Financial Services Finance Investment Company
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
19 | 30 | 52 | 189 | 49 | 32 | 39 | 20 | 115 | 6 | 44 | 56 | 53 | |
2 | 1 | 4 | 2 | 3 | 3 | 6 | 2 | 3 | 4 | 4 | 6 | 5 | |
Operating Profit | 17 | 29 | 48 | 187 | 46 | 29 | 33 | 18 | 112 | 2 | 40 | 50 | 48 |
OPM % | 91% | 96% | 93% | 99% | 94% | 91% | 85% | 89% | 97% | 26% | 90% | 89% | 90% |
1 | 2 | 1 | 2 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | |
Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Profit before tax | 18 | 31 | 49 | 188 | 47 | 30 | 35 | 19 | 114 | 3 | 42 | 52 | 50 |
Tax % | 4% | 3% | 3% | 3% | 5% | 1% | 4% | 20% | 27% | -104% | 22% | 29% | |
17 | 30 | 48 | 182 | 45 | 30 | 33 | 15 | 83 | 7 | 33 | 37 | 35 | |
EPS in Rs | 54.68 | 94.94 | 150.93 | 569.14 | 140.15 | 94.78 | 104.34 | 47.16 | 261.19 | 21.62 | 102.62 | 115.34 | 109.60 |
Dividend Payout % | 5% | 3% | 2% | 1% | 4% | 5% | 0% | 11% | 2% | 23% | 5% | 4% |
Compounded Sales Growth | |
---|---|
10 Years: | 6% |
5 Years: | 7% |
3 Years: | -21% |
TTM: | 18% |
Compounded Profit Growth | |
---|---|
10 Years: | 2% |
5 Years: | 2% |
3 Years: | -24% |
TTM: | 7% |
Stock Price CAGR | |
---|---|
10 Years: | 15% |
5 Years: | 27% |
3 Years: | 10% |
1 Year: | -8% |
Return on Equity | |
---|---|
10 Years: | 8% |
5 Years: | 4% |
3 Years: | 3% |
Last Year: | 4% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
Reserves | 199 | 228 | 275 | 455 | 594 | 598 | 600 | 666 | 791 | 874 | 918 | 937 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
1 | 2 | 2 | 5 | 3 | 5 | 4 | 2 | 1 | 1 | 1 | 1 | |
Total Liabilities | 204 | 233 | 280 | 463 | 601 | 607 | 607 | 671 | 795 | 878 | 922 | 941 |
1 | 1 | 1 | 1 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | |
CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Investments | 198 | 228 | 271 | 416 | 552 | 556 | 457 | 530 | 755 | 842 | 893 | 928 |
5 | 5 | 9 | 46 | 46 | 48 | 147 | 137 | 36 | 32 | 25 | 10 | |
Total Assets | 204 | 233 | 280 | 463 | 601 | 607 | 607 | 671 | 795 | 878 | 922 | 941 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
13 | 22 | 38 | -34 | 24 | 29 | -68 | 82 | 77 | 1 | 26 | 28 | |
-14 | -21 | -36 | 36 | -21 | -26 | 72 | -10 | -150 | 2 | -25 | -29 | |
-1 | -1 | -1 | -1 | -2 | -2 | -2 | -0 | -2 | -2 | -2 | -2 | |
Net Cash Flow | -2 | 0 | 0 | 1 | 0 | 1 | 2 | 72 | -75 | 2 | -0 | -2 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Inventory Days | ||||||||||||
Days Payable | ||||||||||||
Cash Conversion Cycle | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Working Capital Days | 56 | 24 | 20 | 72 | 23 | 5 | 922 | 372 | 28 | 569 | 80 | 37 |
ROCE % | 9% | 14% | 19% | 51% | 9% | 5% | 6% | 3% | 16% | 0% | 5% | 6% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Newspaper Publication
14 Oct - Newspaper notice published in Business Standard on 14th October, 2025, regarding opening of a special window for re-lodgement of transfer requests of physical shares.
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Demat Report For The Month Ended 30Th September, 2025.
7 Oct - 38 equity shares dematerialised in September 2025 (08/09/2025 and 15/09/2025).
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
7 Oct - RTA Alankit certifies physical share certificates dematerialised, cancelled for quarter ended 30 September 2025.
-
Announcement under Regulation 30 (LODR)-Change in Directorate
28 Sep - Mrs. Pooja Mehta (DIN 07808149) ceases as Independent Director after first term ending 28 September 2025.
-
Closure of Trading Window
27 Sep - Trading window closed from 1 October 2025 until 48 hours after unaudited results for 30 September 2025.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Business Overview:[1][2]
VHL is a Non Deposit Taking Systemically Important Non Banking Finance Corporation which is mainly into investment activities. It primarily earns its income from investments. Company’s strategy is to adopt a systematic approach of investment into different asset classes and to keep the portfolio dynamic as per the changing market conditions. Company’s current portfolio consists of investments into debt, equity and real estate