Vardhman Textiles Ltd

₹ 316 1.66%
16 Aug 11:52 a.m.
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

  • Market Cap 9,141 Cr.
  • Current Price 316
  • High / Low 576 / 246
  • Stock P/E 5.91
  • Book Value 267
  • Dividend Yield 2.14 %
  • ROCE 23.7 %
  • ROE 21.8 %
  • Face Value 2.00

Pros

  • Stock is trading at 1.20 times its book value
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 18.9% CAGR over last 5 years

Cons

  • The company has delivered a poor sales growth of 9.80% over past five years.
  • Company has a low return on equity of 13.2% for 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
1,650 1,664 1,825 1,596 817 1,625 1,750 1,947 1,927 2,385 2,603 2,707 2,812
1,400 1,414 1,613 1,371 824 1,481 1,473 1,553 1,448 1,709 1,984 2,208 2,286
Operating Profit 251 250 212 225 -6 145 277 394 479 676 619 499 526
OPM % 15% 15% 12% 14% -1% 9% 16% 20% 25% 28% 24% 18% 19%
35 32 74 46 43 59 66 58 54 77 73 60 32
Interest 37 34 29 35 34 28 23 28 26 24 21 29 26
Depreciation 76 83 86 88 89 91 92 92 91 92 92 92 93
Profit before tax 173 165 170 148 -86 84 228 332 416 638 579 438 438
Tax % 30% 28% -19% -1% 25% 27% 23% 23% 24% 24% 25% 27% 24%
Net Profit 116 117 199 146 -64 60 171 248 315 481 429 322 329
EPS in Rs 4.04 4.05 6.93 5.07 -2.24 2.09 5.93 8.61 10.92 16.70 14.86 11.15 11.39

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
4,386 4,614 4,939 6,128 6,741 5,848 6,030 6,248 6,878 6,735 6,140 9,622 10,507
3,296 3,998 3,964 4,668 5,623 4,672 4,831 5,345 5,684 5,798 5,326 7,348 8,187
Operating Profit 1,090 616 975 1,460 1,118 1,176 1,199 903 1,194 937 814 2,274 2,321
OPM % 25% 13% 20% 24% 17% 20% 20% 14% 17% 14% 13% 24% 22%
66 66 51 74 161 158 591 215 239 187 222 264 242
Interest 137 174 177 151 125 89 129 118 120 135 113 100 100
Depreciation 265 274 295 335 532 374 343 240 254 333 364 368 369
Profit before tax 755 235 553 1,048 622 872 1,318 760 1,059 655 559 2,071 2,093
Tax % 25% 28% 30% 27% 28% 28% 25% 22% 30% 10% 24% 25%
Net Profit 525 141 356 718 400 615 981 581 731 578 410 1,547 1,561
EPS in Rs 16.50 4.44 11.20 22.57 12.57 19.31 34.17 20.24 25.43 20.08 14.24 53.55 54.10
Dividend Payout % 7% 20% 11% 10% 16% 15% 8% 15% 14% 0% 24% 12%
Compounded Sales Growth
10 Years: 8%
5 Years: 10%
3 Years: 12%
TTM: 45%
Compounded Profit Growth
10 Years: 28%
5 Years: 19%
3 Years: 33%
TTM: 97%
Stock Price CAGR
10 Years: 21%
5 Years: 6%
3 Years: 19%
1 Year: -14%
Return on Equity
10 Years: 14%
5 Years: 13%
3 Years: 13%
Last Year: 22%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
63 63 63 63 63 61 55 56 56 57 57 57
Reserves 2,202 2,144 2,444 3,070 3,313 3,939 4,218 4,897 5,534 5,991 6,412 7,647
2,944 2,757 3,174 3,373 2,640 2,630 2,238 2,321 2,278 2,221 2,132 1,983
918 1,004 1,109 1,360 1,363 883 990 971 1,150 1,087 1,032 1,292
Total Liabilities 6,126 5,968 6,789 7,865 7,378 7,513 7,502 8,246 9,018 9,356 9,632 10,979
2,537 2,578 2,704 3,154 2,875 2,627 2,591 2,631 3,201 3,628 3,539 3,494
CWIP 125 185 213 94 83 86 49 106 274 142 78 241
Investments 233 512 581 784 869 1,313 1,868 1,834 1,346 1,145 1,075 1,691
3,231 2,694 3,291 3,833 3,551 3,488 2,994 3,676 4,198 4,441 4,941 5,553
Total Assets 6,126 5,968 6,789 7,865 7,378 7,513 7,502 8,246 9,018 9,356 9,632 10,979

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
31 1,020 333 834 1,412 915 1,350 103 499 849 168 1,445
-456 -652 -517 -780 -315 -451 -343 -167 -278 -379 -116 -899
234 -355 165 -39 -975 -365 -1,180 92 -252 -296 -175 -571
Net Cash Flow -192 13 -19 16 122 99 -173 28 -30 175 -122 -26

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 56 50 55 52 44 49 44 44 43 44 62 50
Inventory Days 360 212 281 296 200 249 218 242 265 276 314 231
Days Payable 23 16 13 22 23 23 31 31 32 37 34 32
Cash Conversion Cycle 392 245 323 326 221 274 232 255 276 283 342 249
Working Capital Days 214 149 166 149 93 127 111 154 163 170 215 185
ROCE % 19% 8% 13% 19% 11% 15% 15% 11% 14% 10% 8% 24%

Shareholding Pattern

Numbers in percentages

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
62.14 62.21 62.20 62.20 62.24 62.83 63.27 63.21 63.17 63.15 62.93 62.91
7.57 7.51 7.37 6.92 6.09 5.28 4.26 4.41 4.91 6.30 8.26 7.51
20.00 20.04 20.80 20.90 22.11 21.59 21.56 21.29 20.68 18.84 16.52 16.56
0.21 0.21 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.34 0.00
10.07 10.04 9.63 9.97 9.56 10.29 10.91 11.10 11.24 11.71 11.95 13.01

Documents

Concalls