Vardhman Textiles Ltd

About [ edit ]

Vardhman Textiles is engaged in the business of manufacturing of cotton yarn,synthetic yarn and woven fabric.

  • Market Cap 6,098 Cr.
  • Current Price 1,059
  • High / Low 1,165 / 593
  • Stock P/E 19.0
  • Book Value 1,050
  • Dividend Yield 0.00 %
  • ROCE 8.79 %
  • ROE 9.07 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Stock is trading at 1.01 times its book value

Cons

  • The company has delivered a poor sales growth of -0.02% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 10.72% for last 3 years.
  • Earnings include an other income of Rs.214.04 Cr.
  • Dividend payout has been low at 9.36% of profits over last 3 years
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
1,510 1,700 1,685 1,729 1,763 1,650 1,664 1,825 1,596 817 1,625 1,750
1,250 1,408 1,354 1,422 1,500 1,400 1,414 1,613 1,371 824 1,481 1,473
Operating Profit 259 292 331 307 263 251 250 212 225 -6 145 277
OPM % 17% 17% 20% 18% 15% 15% 15% 12% 14% -1% 9% 16%
Other Income 66 32 47 65 95 35 32 74 46 43 59 66
Interest 35 34 29 27 30 37 34 29 35 34 28 23
Depreciation 63 62 62 63 67 76 83 86 88 89 91 92
Profit before tax 228 229 286 282 261 173 165 170 148 -86 84 228
Tax % 27% 29% 30% 31% 30% 30% 28% -19% -1% 25% 27% 23%
Net Profit 164 159 196 196 179 116 117 199 146 -64 60 171
EPS in Rs 28.50 27.70 34.19 34.08 31.21 20.19 20.27 34.64 25.33 -11.18 10.47 29.65
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
2,946 3,327 4,386 4,614 4,939 6,128 6,741 5,848 6,030 6,248 6,878 6,735 5,789
2,494 2,622 3,293 3,998 3,964 4,668 5,623 4,672 4,831 5,345 5,684 5,798 5,149
Operating Profit 452 705 1,093 616 975 1,460 1,118 1,176 1,199 903 1,194 937 640
OPM % 15% 21% 25% 13% 20% 24% 17% 20% 20% 14% 17% 14% 11%
Other Income 191 81 63 66 51 74 161 158 591 215 239 187 214
Interest 129 118 137 174 177 151 125 89 129 118 120 135 120
Depreciation 243 257 265 274 295 335 532 374 343 240 254 333 360
Profit before tax 271 411 755 235 553 1,048 622 872 1,318 760 1,059 655 374
Tax % 29% 26% 25% 28% 30% 27% 28% 28% 25% 22% 30% 10%
Net Profit 171 261 525 141 356 718 400 615 981 581 731 578 312
EPS in Rs 82.46 22.19 55.95 112.77 62.83 96.48 170.88 101.19 127.13 100.41 54.27
Dividend Payout % 11% 9% 7% 20% 11% 10% 16% 15% 8% 15% 14% 0%
Compounded Sales Growth
10 Years:7%
5 Years:-0%
3 Years:4%
TTM:-16%
Compounded Profit Growth
10 Years:6%
5 Years:5%
3 Years:-7%
TTM:-49%
Stock Price CAGR
10 Years:15%
5 Years:6%
3 Years:-7%
1 Year:2%
Return on Equity
10 Years:14%
5 Years:13%
3 Years:11%
Last Year:9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
57 57 63 63 63 63 63 61 55 56 56 57 57
Reserves 1,327 1,548 2,202 2,144 2,444 3,070 3,313 3,939 4,218 4,897 5,534 5,991 5,989
Borrowings 2,533 2,643 2,944 2,757 3,174 3,373 2,640 2,630 2,238 2,321 2,278 2,221 1,593
1,076 830 918 1,004 1,109 1,360 1,363 883 990 971 1,150 1,087 1,158
Total Liabilities 4,992 5,077 6,126 5,968 6,789 7,865 7,378 7,513 7,502 8,246 9,018 9,356 8,797
2,566 2,556 2,537 2,578 2,704 3,154 2,875 2,627 2,591 2,631 3,201 3,628 3,604
CWIP 69 45 125 185 213 94 83 86 49 106 274 142 80
Investments 140 92 233 512 581 784 869 1,313 1,868 1,834 1,346 1,145 1,441
2,216 2,383 3,231 2,694 3,291 3,833 3,551 3,488 2,994 3,676 4,198 4,441 3,672
Total Assets 4,992 5,077 6,126 5,968 6,789 7,865 7,378 7,513 7,502 8,246 9,018 9,356 8,797

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
565 11 31 1,020 333 834 1,412 915 1,350 103 499 849
-278 -132 -456 -652 -517 -780 -315 -451 -343 -167 -278 -379
14 10 234 -355 165 -39 -975 -365 -1,180 92 -252 -296
Net Cash Flow 301 -111 -192 13 -19 16 122 99 -173 28 -30 175

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 10% 13% 19% 8% 13% 19% 11% 15% 15% 11% 14% 9%
Debtor Days 43 52 56 50 55 52 44 49 44 44 43 44
Inventory Turnover 2.13 1.89 1.50 1.79 1.73 1.69 2.05 1.81 1.92 2.01 1.77 1.63

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
62.15 62.14 62.14 62.14 62.15 62.15 62.14 62.21 62.20 62.20 62.24 62.83
10.58 9.66 8.81 8.03 7.52 7.39 7.57 7.51 7.37 6.92 6.09 5.28
14.79 18.01 18.48 19.20 19.81 20.03 20.00 20.04 20.80 20.90 22.11 21.59
0.18 0.18 0.18 0.21 0.21 0.21 0.21 0.21 0.00 0.00 0.00 0.00
12.30 10.01 10.39 10.42 10.32 10.22 10.07 10.04 9.63 9.97 9.56 10.29

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