Vardhman Textiles Ltd

₹ 288 -3.80%
27 Jan - close price
vardhman.com BSE: 502986 NSE : VTL
About

Vardhman textiles is engaged in the business of manufacturing Yarn, Fabric, Acrylic Fiber and Garments, the Group has over the years developed as a business conglomerate with a presence in India and in 75 countries across the globe. [1]

Key Points

Products
Yarn: They have Specialty Yarns, Dyed Yarns, Acrylic, Fancy & Hand Knitting Yarns, and Grey Yarns. [1]
Fabrics: engaged in the production of fabrics for both tops and bottoms in the apparel segment catering to a large number of retailers in the USA, Europe, and Asia amongst others

Website BSE NSE
  • Market Cap ₹ 8,315 Cr.
  • Current Price ₹ 288
  • High / Low ₹ 565 / 246
  • Stock P/E 9.03
  • Book Value ₹ 278
  • Dividend Yield 2.36 %
  • ROCE 25.2 %
  • ROE 24.0 %
  • Face Value ₹ 2.00
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Pros

  • Company has reduced debt.
  • Stock is trading at 1.03 times its book value
  • Company has delivered good profit growth of 21.2% CAGR over last 5 years

Cons

  • The company has delivered a poor sales growth of 10.5% over past five years.
  • Company has a low return on equity of 13.7% 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

Sector: Textiles Industry: Textiles - Cotton/Blended

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
1,723 1,491 771 1,533 1,667 1,865 1,893 2,330 2,521 2,642 2,731 2,387 2,294
1,515 1,282 775 1,399 1,416 1,497 1,422 1,656 1,911 2,135 2,220 2,038 2,127
Operating Profit 208 209 -4 134 251 368 472 674 610 507 511 349 167
OPM % 12% 14% -1% 9% 15% 20% 25% 29% 24% 19% 19% 15% 7%
62 40 42 50 52 45 42 64 231 48 22 29 68
Interest 29 35 33 27 23 28 26 24 21 29 26 25 21
Depreciation 83 85 86 88 88 91 90 90 91 91 92 97 97
Profit before tax 158 130 -81 69 191 294 398 623 729 435 415 256 117
Tax % -19% -2% 28% 28% 25% 24% 24% 25% 20% 26% 25% 24% 22%
Net Profit 189 133 -58 50 144 224 301 470 584 323 313 195 91
EPS in Rs 6.57 4.63 -2.03 1.72 5.02 7.79 10.44 16.30 20.25 11.17 10.84 6.74 3.13
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
3,594 3,909 4,149 5,159 5,730 5,602 5,691 5,851 6,415 6,325 5,926 9,386 10,054
2,695 3,416 3,320 3,898 4,789 4,494 4,560 4,993 5,283 5,442 5,159 7,124 8,521
Operating Profit 899 493 828 1,261 942 1,108 1,131 859 1,132 883 767 2,262 1,534
OPM % 25% 13% 20% 24% 16% 20% 20% 15% 18% 14% 13% 24% 15%
72 61 55 64 158 241 628 185 218 172 188 385 167
Interest 136 173 174 152 122 87 125 114 118 133 113 100 100
Depreciation 226 235 254 294 489 363 329 229 241 319 358 362 377
Profit before tax 609 145 455 879 489 899 1,305 701 990 603 484 2,186 1,223
Tax % 23% 25% 29% 26% 27% 25% 23% 22% 30% 10% 24% 23%
Net Profit 470 110 324 652 359 676 1,002 546 696 545 367 1,677 921
EPS in Rs 14.76 3.45 10.17 20.48 11.28 21.25 34.87 19.00 24.21 18.97 12.74 58.07 31.88
Dividend Payout % 6% 26% 12% 11% 18% 14% 8% 16% 14% 0% 27% 12%
Compounded Sales Growth
10 Years: 9%
5 Years: 11%
3 Years: 14%
TTM: 17%
Compounded Profit Growth
10 Years: 32%
5 Years: 21%
3 Years: 37%
TTM: -42%
Stock Price CAGR
10 Years: 18%
5 Years: 2%
3 Years: 12%
1 Year: -40%
Return on Equity
10 Years: 15%
5 Years: 13%
3 Years: 14%
Last Year: 24%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
64 64 64 64 64 62 56 57 57 58 58 58 58
Reserves 1,855 1,932 2,213 2,785 3,020 3,628 3,930 4,574 5,180 5,609 6,075 7,480 7,992
2,683 2,632 3,025 3,227 2,506 2,596 2,198 2,282 2,238 2,197 2,132 1,980 1,537
631 552 622 805 716 700 775 782 893 864 799 1,058 1,089
Total Liabilities 5,231 5,180 5,923 6,880 6,305 6,985 6,959 7,696 8,369 8,727 9,064 10,576 10,677
2,126 2,195 2,336 2,775 2,496 2,500 2,458 2,507 3,059 3,481 3,468 3,436 3,516
CWIP 114 182 213 85 77 85 49 105 274 139 78 241 412
Investments 353 515 559 712 674 1,070 1,643 1,592 1,087 1,031 813 1,458 2,064
2,639 2,288 2,816 3,309 3,058 3,330 2,809 3,492 3,950 4,075 4,705 5,441 4,684
Total Assets 5,231 5,180 5,923 6,880 6,305 6,985 6,959 7,696 8,369 8,727 9,064 10,576 10,677

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
-24 930 269 706 1,211 869 1,289 90 447 851 115 1,430
-332 -504 -469 -677 -144 -480 -252 -160 -227 -462 -31 -883
183 -417 168 -2 -944 -288 -1,213 97 -247 -278 -199 -521
Net Cash Flow -173 10 -32 26 123 101 -175 27 -28 111 -114 26

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 50 50 56 52 43 50 46 45 43 46 63 51
Inventory Days 352 204 269 292 192 240 208 244 269 274 317 233
Days Payable 18 13 8 15 15 19 23 28 26 32 30 29
Cash Conversion Cycle 384 241 316 329 220 271 231 261 286 288 350 255
Working Capital Days 215 150 170 152 94 126 114 158 168 176 221 146
ROCE % 17% 7% 12% 18% 10% 16% 15% 11% 14% 9% 7% 25%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
62.20 62.20 62.24 62.83 63.27 63.21 63.17 63.15 62.93 62.91 63.75 63.85
7.37 6.92 6.09 5.28 4.26 4.41 4.91 6.30 8.26 7.51 6.99 7.07
20.80 20.90 22.11 21.59 21.56 21.29 20.68 18.84 16.52 16.56 16.71 16.85
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.34 0.00 0.00 0.00
9.63 9.97 9.56 10.29 10.91 11.10 11.24 11.71 11.95 13.01 12.51 12.21

* 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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