Vardhman Holdings Ltd

₹ 3,525 0.21%

14 Jul - close price

About

Incorporated in 1962, Vardhman Holdings Ltd is in the business of lending and investing activities^[1]

Key Points

Business Overview:^[1]
VHL primarily earns its income from investments. The company’s strategy is to adopt a systematic approach of investment into different asset classes namely debt, equity & real estate and to keep the portfolio dynamic as per the changing market conditions. Its current portfolio consists of investments into debt, equity and real estate. The company is a NBFC registered with RBI and mainly engaged in investment activities.

Website BSE NSE

Market Cap ₹ 1,124 Cr.
Current Price ₹ 3,525
High / Low ₹ 4,290 / 2,870
Stock P/E 5.21
Book Value ₹ 11,799
Dividend Yield 0.14 %
ROCE 6.28 %
ROE 5.91 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Stock is trading at 0.30 times its book value
Market value of investments Rs.3,728 Cr. is more than the Market Cap Rs.1,124 Cr.

Cons

Tax rate seems low
Company has a low return on equity of 6.42% over last 3 years.
Earnings include an other income of Rs.219 Cr.
Dividend payout has been low at 0.74% 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

Part of BSE Financial Services

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	-5	6	30	8	0	7	7	7	2	3	3	6	0
	2	0	1	0	3	1	3	1	1	0	0	1	1
Operating Profit	-7	5	30	7	-3	5	5	5	1	3	2	5	-1
OPM %		92%	98%	95%	-3,786%	81%	66%	79%	55%	91%	87%	91%	-158%
	46	40	39	47	28	69	57	61	69	60	55	50	54
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	39	45	69	54	26	74	62	66	70	63	57	55	53
Tax %	-6%	3%	10%	2%	1%	2%	20%	1%	1%	1%	20%	2%	-0%
	41	44	62	54	26	73	49	66	70	63	46	54	54
EPS in Rs	127.87	137.21	194.05	167.95	80.15	229.14	154.72	206.05	218.49	196.08	144.51	168.29	168.01
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	13	70	28	9	12	20	33	6	15	23	12
	4	2	3	3	6	2	3	4	4	6	2
Operating Profit	9	68	25	6	7	18	30	2	11	17	10
OPM %	72%	97%	89%	68%	53%	89%	91%	26%	71%	73%	83%
	151	242	157	196	155	116	429	223	184	256	219
Interest	0	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	0	0	0	0	0
Profit before tax	160	310	181	202	161	133	459	225	194	273	229
Tax %	1%	2%	1%	0%	1%	3%	7%	-2%	5%	5%	6%
	159	303	179	202	160	130	429	228	185	258	216
EPS in Rs	496.88	950.05	559.83	632.40	500.42	405.80	1,344.45	715.74	579.29	808.40	676.83
Dividend Payout %	1%	1%	1%	1%	0%	1%	0%	1%	1%	1%	1%

Compounded Sales Growth
10 Years:	0%
5 Years:	-9%
3 Years:	28%
TTM:	-46%

Compounded Profit Growth
10 Years:	3%
5 Years:	11%
3 Years:	-2%
TTM:	-16%

Stock Price CAGR
10 Years:	11%
5 Years:	1%
3 Years:	8%
1 Year:	-13%

Return on Equity
10 Years:	9%
5 Years:	8%
3 Years:	6%
Last Year:	6%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	3	3	3	3	3	3	3	3	3	3	3
Reserves	1,244	1,545	1,819	1,994	2,122	2,303	2,774	3,096	3,294	3,537	3,762
	0	0	0	0	0	0	0	0	0	0	0
	2	5	3	5	4	2	1	1	1	1	4
Total Liabilities	1,249	1,553	1,825	2,003	2,130	2,307	2,778	3,101	3,298	3,541	3,769
	1	1	3	3	3	3	3	3	3	3	3
CWIP	0	0	0	0	0	0	0	0	0	0	0
Investments	1,240	1,506	1,776	1,952	1,979	2,167	2,738	3,065	3,270	3,528	3,758
	9	46	46	48	147	137	36	32	25	10	8
Total Assets	1,249	1,553	1,825	2,003	2,130	2,307	2,778	3,101	3,298	3,541	3,769

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-34	2	6	-95	82	-5	1	-3	-6	-6
	36	0	-3	99	-10	-69	2	4	5	7
	-1	-2	-2	-2	-0	-2	-2	-2	-2	-2
Net Cash Flow	1	0	1	2	72	-75	2	-0	-2	-0
Free Cash Flow	-34	0	6	-95	82	-5	1	-3	-6	-6
CFO/OP	7%	38%	98%	-1,359%	487%	56%	263%	31%	9%	39%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	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
Working Capital Days	82	194	41	19	2,908	372	98	569	236	92	187
ROCE %		22%	11%	11%	8%	6%	18%	8%	6%	8%	6%

Insights

In beta

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

CRAR (Capital to Risk-weighted Assets Ratio)
% ・Standalone data

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x,xxx.xx		x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx
	x	x	x	x	x	x

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Investment in Debentures and Bonds
INR Lakhs ・Standalone data

Investment in Equity Instruments (incl. Associates)
INR Lakhs ・Standalone data

Investment in Mutual Funds
INR Lakhs ・Standalone data

Market Value of Quoted Investments
INR Lakhs ・Standalone data

Total Investments (Net Value)
INR Lakhs ・Standalone data

Investment in AIFs / Venture Capital / Real Estate Funds
INR Lakhs ・Standalone data

Number of Permanent Employees
count ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.90%	74.90%	74.90%	74.90%	74.90%	74.90%	74.90%	74.90%	74.90%	74.90%	74.90%	74.90%
	0.03%	0.03%	0.03%	0.06%	0.06%	0.07%	0.06%	0.06%	0.05%	0.05%	0.05%	0.05%
	0.96%	0.97%	0.56%	0.53%	0.13%	0.06%	0.06%	0.06%	0.06%	0.07%	0.07%	0.07%
	24.10%	24.10%	24.51%	24.51%	24.90%	24.98%	24.98%	24.99%	24.99%	24.99%	24.99%	24.99%
No. of Shareholders	9,276	9,097	9,185	9,598	9,833	11,119	11,330	11,239	11,194	10,846	10,688	10,446

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	74.90%	74.90%	74.90%	74.90%	74.90%	74.90%	74.90%	74.90%	74.90%	74.90%	74.90%
	3.04%	3.11%	2.99%	2.99%	2.99%	0.06%	0.04%	0.03%	0.06%	0.05%	0.05%
	1.05%	1.07%	1.06%	1.04%	1.04%	0.96%	0.96%	0.56%	0.06%	0.07%	0.07%
	0.00%	0.37%	0.42%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	21.01%	20.55%	20.63%	21.07%	21.07%	24.08%	24.09%	24.51%	24.98%	24.99%	24.99%
No. of Shareholders	7,261	9,308	9,098	8,625	8,161	9,673	9,592	9,185	11,330	10,688	10,446

* 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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Vardhman Holdings Ltd

Vardhman Holdings Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

Documents

Announcements

Annual reports