Vardhman Holdings Ltd

Vardhman Holdings Ltd

₹ 3,031 0.56%
21 May - close price
About

Vardhman Holdings Ltd, incorporated in 1962, is part of the Vardhman group. The company is a registered NBFC. The company has assets other than that related to the textile business, which mainly comprises investments. The earnings at present are in the nature of dividends on investments. The company’s current portfolio consists of investments into debt, equity and real estate. [1][2]

Key Points

Revenue Mix
Interest Income: 12% in FY22 vs 39% in FY21
Net Gain on FV changes: 80% in FY22 vs 60% in FY21
Dividend income: 8% in FY22 vs .3% in FY21 [1]

  • Market Cap 967 Cr.
  • Current Price 3,031
  • High / Low 3,788 / 2,425
  • Stock P/E 32.2
  • Book Value 2,851
  • Dividend Yield 0.16 %
  • ROCE 0.41 %
  • ROE 0.83 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Stock is trading at 1.06 times its book value

Cons

  • The company has delivered a poor sales growth of -34.6% over past five years.
  • Company has a low return on equity of 4.78% over last 3 years.
  • Dividend payout has been low at 11.9% of profits over last 3 years
  • Working capital days have increased from 323 days to 569 days

* 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: Finance Industry: Finance & Investments

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
-2.70 8.31 2.78 42.07 64.12 6.01 4.73 2.11 4.48 -5.43 5.90 30.27 7.73
0.32 1.28 0.43 0.42 1.35 0.87 1.25 0.68 0.78 1.66 0.47 0.74 0.40
Operating Profit -3.02 7.03 2.35 41.65 62.77 5.14 3.48 1.43 3.70 -7.09 5.43 29.53 7.33
OPM % 84.60% 84.53% 99.00% 97.89% 85.52% 73.57% 67.77% 82.59% 92.03% 97.56% 94.83%
0.34 0.21 0.31 0.31 0.32 0.91 0.46 0.46 0.46 0.49 0.44 0.51 0.38
Interest 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
Depreciation 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
Profit before tax -2.68 7.24 2.66 41.96 63.09 6.05 3.94 1.89 4.16 -6.60 5.87 30.04 7.71
Tax % 4.48% 16.44% 6.39% 22.78% 29.04% 38.68% 12.18% -101.59% 3.61% 33.64% 23.85% 23.14% 11.02%
-2.56 6.05 2.49 32.40 44.77 3.71 3.46 3.81 4.01 -4.38 4.47 23.09 6.86
EPS in Rs -8.02 18.96 7.80 101.52 140.28 11.62 10.84 11.94 12.56 -13.72 14.01 72.35 21.49
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
13 12 19 30 52 189 49 32 39 20 115 6 38
55 1 2 1 4 2 3 3 6 2 3 4 3
Operating Profit -42 11 17 29 48 187 46 29 33 18 112 2 35
OPM % -314% 89% 91% 96% 93% 99% 94% 91% 85% 89% 97% 26% 92%
109 1 1 2 1 2 1 1 1 1 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 67 12 18 31 49 188 47 30 35 19 114 3 37
Tax % 18% 8% 4% 3% 3% 3% 5% 1% 4% 20% 27% -104%
55 11 17 30 48 182 45 30 33 15 83 7 30
EPS in Rs 172.30 35.85 54.68 94.94 150.93 569.14 140.15 94.78 104.34 47.16 261.19 21.62 94.13
Dividend Payout % 1% 8% 5% 3% 2% 1% 4% 5% 0% 11% 2% 23%
Compounded Sales Growth
10 Years: -7%
5 Years: -35%
3 Years: -47%
TTM: 122%
Compounded Profit Growth
10 Years: -5%
5 Years: -31%
3 Years: -41%
TTM: 100%
Stock Price CAGR
10 Years: 18%
5 Years: 8%
3 Years: 5%
1 Year: 16%
Return on Equity
10 Years: 10%
5 Years: 5%
3 Years: 5%
Last Year: 1%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 3 3 3 3 3 3 3 3 3 3 3 3 3
Reserves 172 183 199 228 275 455 594 598 600 666 791 874 907
0 0 0 0 0 0 0 0 0 0 0 0 0
2 1 1 2 2 5 3 5 4 2 1 1 3
Total Liabilities 177 187 204 233 280 463 601 607 607 671 795 878 913
1 1 1 1 1 1 3 3 3 3 3 3 3
CWIP 0 0 0 0 0 0 0 0 0 0 0 0 0
Investments 174 181 198 228 271 416 552 556 457 530 755 842 858
3 6 5 5 9 46 46 48 147 137 36 32 52
Total Assets 177 187 204 233 280 463 601 607 607 671 795 878 913

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
10 9 13 22 38 -34 24 29 -68 82 77 1
-9 -6 -14 -21 -36 36 -21 -26 72 -10 -150 2
-1 -1 -1 -1 -1 -1 -2 -2 -2 -0 -2 -2
Net Cash Flow -0 2 -2 0 0 1 0 1 2 72 -75 2

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
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 14 57 56 24 20 72 23 5 922 372 28 569
ROCE % 9% 7% 9% 14% 19% 51% 9% 5% 6% 3% 16% 0%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
74.90% 74.90% 74.90% 74.90% 74.90% 74.90% 74.90% 74.90% 74.90% 74.90% 74.90% 74.90%
2.99% 3.00% 1.51% 0.06% 0.05% 0.04% 0.04% 0.04% 0.03% 0.03% 0.03% 0.03%
0.99% 0.99% 0.96% 0.96% 0.96% 0.96% 0.96% 0.96% 0.96% 0.96% 0.97% 0.56%
21.12% 21.11% 22.63% 24.08% 24.09% 24.11% 24.10% 24.09% 24.10% 24.10% 24.10% 24.51%
No. of Shareholders 8,3078,4848,4159,6739,6939,8989,7289,5929,4269,2769,0979,185

* 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.

Click on the line-items to see the names of individual entities.

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