Vedant Fashions Ltd.

•

vedantfashions.comBSE: 543463NSE: MANYAVAR

Market Cap₹ 14,160 Cr.

Current Price

High / Low₹ 779 / 329

Stock P/E35.1

Book Value—

Price to Book14.15

Dividend Yield1.33 %

ROCE39.5 %

ROE27.7 %

Face Value₹ 1

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ABOUT

AI Sector View

AI GENERATED

Consumer Services

Buy

Consumer services have a mixed operating backdrop but strong market sponsorship. Foreign tourist arrivals in India rose 6.0% YoY (2026-06), export of services grew 13.0% YoY (2026-06), and headline tourist arrivals were 584000 (Jun/26), though airport passenger traffic was -2.0% YoY (2026-06). Strong FPI inflow of INR 19847 crore over 3 months to 2026-08-31 supports a Buy stance despite some travel softness.

Confidence

73%

View full sector analysis →

PROS

Company is almost debt free
Company has a healthy return on capital (ROCE) of 43.3%
Company has a good return on equity (ROE) track record: 3 Years ROE 30.5%
Company has consistently been profitable over the last 5 years
Latest quarter profit grew 37.3% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.13x)

CONS

Stock is trading at 14.1x its book value
Operating margins have contracted to 48.1% from 53.7%
Rich enterprise valuation - EV/EBITDA of 31.0x

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Consumer ServicesTextileTextile

Part ofNIFTY MICROCAP250 NIFTY TOTAL MKT

S.No.	Name
1.	PAGEIND	35350.00	52.17	39428.94	1.56	192.81	-3.98	1420.45	7.89	73.60	20.35
2.	KPRMILL	1109.40	41.56	37920.85	0.45	258.54	21.55	1935.52	14.77	20.16	19.37
3.	WELSPUNLIV	207.80	70.72	19631.96	0.05	162.61	82.09	2795.45	23.66	6.41	11.53
4.	VTL	567.35	19.38	16429.14	0.88	314.56	51.46	2703.08	13.31	8.91	18.11
5.	ARVIND	575.25	37.79	15649.14	0.78	57.77	5.61	2500.96	24.65	15.30	9.64
6.	MANYAVAR	582.75	35.14	14159.56	1.33	66.90	37.31	267.95	22.74	29.45	45.53
7.	PGIL	1190.75	35.45	11000.28	0.61	992.34	51.37	15282.61	24.46	22.42	10.72
8.	SWANCORP	296.30	41.54	9287.73	0.05	-35.99	-233.33	1013.75	-16.44	4.50	-0.38
9.	ICIL	443.05	58.16	8774.80	0.34	63.22	67.28	1206.96	25.89	8.73	11.88
10.	GARFIBRES	797.15	37.06	7784.04	1.13	64.60	21.56	482.37	31.35	20.98	18.70
11.	KUSUMGAR	567.35	60.66	5956.69	0.00	426.47	—	2472.47	—	26.15	30.50
12.	GOKEX	785.80	55.93	5758.16	0.00	44.30	6.81	1153.51	20.69	9.10	9.75

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	296	325	247	441	342	312	218	474	363	240	268
	152	162	131	217	174	163	125	232	188	127	146
Operating Profit	144	163	115	224	168	148	93	242	175	113	122
OPM %	48.61%	50.18%	46.75%	50.85%	49.14%	47.54%	42.51%	51.02%	48.21%	46.99%	45.53%
	11	7	10	10	13	15	15	15	24	21	19
Interest	9	8	8	7	8	9	11	11	13	14	14
Depreciation	27	26	25	25	27	30	32	34	38	37	37
Profit before Tax	120	136	93	202	145	124	65	212	148	83	90
Tax %	25.83%	25.79%	25.40%	25.55%	25.15%	25.73%	24.78%	25.58%	21.71%	24.77%	25.85%
Net Profit	0	0	0	150	109	92	49	158	116	62	67
	3.63	4.16	2.84	6.19	4.49	3.79	2.01	6.50	4.77	2.57	2.75

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	TTM
	504	599	758	801	916	565	1,041	1,355	1,368	1,345
	354	426	526	527	522	322	545	684	709	694
Operating Profit	150	174	232	274	394	243	496	671	658	652
OPM %	29.84%	28.95%	30.56%	34.17%	43.01%	43.03%	47.64%	49.51%	48.12%	48.45%
	2	3	11	19	32	60	50	40	70	80
Interest	6	5	6	4	26	26	28	31	44	52
Depreciation	7	8	10	9	89	96	94	104	135	147
Profit before Tax	139	164	226	280	312	182	423	576	548	533
Tax %	35.15%	35.26%	34.70%	34.88%	24.12%	26.94%	25.55%	25.48%	24.48%	24.42%
Net Profit	90	106	148	182	237	133	315	429	414	403
EPS	93.87	89.42	12.06	14.55	18.90	5.36	12.90	17.68	17.05	—
Dividend Payout %	13.15%	0.00%	0.00%	0.00%	0.00%	0.00%	38.53%	50.92%	49.84%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 11%
3 Years:: 34%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 18%
3 Years:: 46%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: -23%
1 Year:: -20%

RETURN ON EQUITY

10 Years:: —
5 Years:: 26%
3 Years:: 31%
Last Year:: 28%

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
Equity Capital	12	12	23	25	25	25	24	24	24
	221	317	682	862	1,038	1,063	1,054	1,368	1,569
	85	80	96	103	283	257	324	346	508
Trade Payables	32	34	43	60	50	50	73	86	89
	12	39	94	95	194	643	811	1,005	1,123
Total Liabilities	362	482	939	1,146	1,591	2,038	2,287	2,829	3,313
	104	141	316	253	507	459	515	520	663
Capital Work in Progress	3	4	0	1	0	0	0	2	0
	0	0	138	194	351	536	512	787	959
	86	97	89	91	121	101	143	174	139
	0	0	0	0	0	0	0	0	565
Cash & Bank	2	1	5	119	70	7	4	10	22
	168	238	389	487	543	935	1,113	1,336	966
Total Assets	362	482	939	1,146	1,591	2,038	2,287	2,829	3,313

Cash Flows

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
	130	101	124	272	318	287	460	617	483
Cash from Investing	-24	-22	-279	-163	-96	-88	56	-232	-110
Cash from Financing	-62	-16	224	-13	-141	-166	-410	-232	-362
	-0	-0	-3	1	7	-2	-3	6	12

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

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.97	74.96	74.96	74.95	74.95	74.95	74.94	74.94	74.94
	9.04	9.53	10.54	10.14	9.88	9.76	9.29	8.28	7.95
	11.89	11.57	10.38	10.59	11.10	10.95	12.00	12.62	13.19
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Public	4.10	3.94	4.13	4.32	4.06	4.35	3.76	4.15	3.91

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-09

Updates

2026-09-09 - Vedant Fashions Limited has informed the Exchange regarding receipt of an Order-in-Appeal dated August 28, 2026 (received on September 08, 2026) from the Office of the Commissioner of CGST and CEX (Appeals-III), Mumbai, under the CGST Act 2017, vide the enclosed letter.

2026-09-05

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-05 - Vedant Fashions Limited has informed the Exchange about a schedule of meetings with the Institutional Investors/Analysts vide the enclosed Letter.

2026-09-05

Copy of Newspaper Publication

2026-09-05 - Vedant Fashions Limited has informed the Exchange about Copies of Newspaper Publication in relation to post-despatch of AGM Notice.

2026-09-04

Shareholders meeting

2026-09-04 - Vedant Fashions Limited has informed the Exchange about the Notice of the upcoming 24th Annual General Meeting of the Members to be held on September 28, 2026 at 03.00 PM.

2026-09-04

General Updates

2026-09-04 - In continuation of its earlier intimations dated Aug 27, 2026 & Sept 01, 2026, Vedant Fashions Limited has informed the Exchange about the rescheduling of meeting with investor/analyst, as detailed in the enclosed letter.

2026-09-03

Copy of Newspaper Publication

2026-09-03 - Vedant Fashions Limited has informed the Exchange about Copy of Newspaper Publication w.r.t pre-despatch of AGM Notice.

2026-09-02

Appointment

2026-09-02 - Vedant Fashions Limited has informed the Exchange regarding Appointment of Ms Neetu Kashiramka as Non- Executive Independent Director of the company w.e.f. September 02, 2026.

2026-09-02

General Updates

2026-09-02 - Vedant Fashions Limited has informed the Exchange regarding 'convening of 24th Annual General Meeting ('AGM') On Monday, September 28, 2026'.

2026-09-02

General Updates

2026-09-02 - Vedant Fashions Limited has informed the Exchange about reconstitution of the Committees of the Board.

News

Recent coverage and analyst commentary for MANYAVAR

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Vedant Fashions Ltd.

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Name

PAGEIND

35350.00

52.17

39428.94

1.56

192.81

-3.98

1420.45

7.89

73.60

20.35

KPRMILL

1109.40

41.56

37920.85

0.45

258.54

21.55

1935.52

14.77

20.16

19.37

WELSPUNLIV

207.80

70.72

19631.96

0.05

162.61

82.09

2795.45

23.66

6.41

11.53

VTL

567.35

19.38

16429.14

0.88

314.56

51.46

2703.08

13.31

8.91

18.11

ARVIND

575.25

37.79

15649.14

0.78

57.77

5.61

2500.96

24.65

15.30

9.64

MANYAVAR

582.75

35.14

14159.56

1.33

66.90

37.31

267.95

22.74

29.45

45.53

PGIL

1190.75

35.45

11000.28

0.61

992.34

51.37

15282.61

24.46

22.42

10.72

SWANCORP

296.30

41.54

9287.73

0.05

-35.99

-233.33

1013.75

-16.44

4.50

-0.38

ICIL

443.05

58.16

8774.80

0.34

63.22

67.28

1206.96

25.89

8.73

11.88

GARFIBRES

797.15

37.06

7784.04

1.13

64.60

21.56

482.37

31.35

20.98

18.70

KUSUMGAR

567.35

60.66

5956.69

0.00

426.47

—

2472.47

—

26.15

30.50

GOKEX

785.80

55.93

5758.16

0.00

44.30

6.81

1153.51

20.69

9.10

9.75

Mar 2022

Jun 2022

Sep 2022

Dec 2022

Mar 2023

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

296

325

247

441

342

312

218

474

363

240

268

152

162

131

217

174

163

125

232

188

127

146

Operating Profit

144

163

115

224

168

148

242

175

113

122

OPM %

48.61%

50.18%

46.75%

50.85%

49.14%

47.54%

42.51%

51.02%

48.21%

46.99%

45.53%

Interest

Depreciation

Profit before Tax

120

136

202

145

124

212

148

Tax %

25.83%

25.79%

25.40%

25.55%

25.15%

25.73%

24.78%

25.58%

21.71%

24.77%

25.85%

Net Profit

150

109

158

116

3.63

4.16

2.84

6.19

4.49

3.79

2.01

6.50

4.77

2.57

2.75

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

TTM

504

599

758

801

916

565

1,041

1,355

1,368

1,345

354

426

526

527

522

322

545

684

709

694

Operating Profit

150

174

232

274

394

243

496

671

658

652

OPM %

29.84%

28.95%

30.56%

34.17%

43.01%

43.03%

47.64%

49.51%

48.12%

48.45%

Interest

Depreciation

104

135

147

Profit before Tax

139

164

226

280

312

182

423

576

548

533

Tax %

35.15%

35.26%

34.70%

34.88%

24.12%

26.94%

25.55%

25.48%

24.48%

24.42%

Net Profit

106

148

182

237

133

315

429

414

403

EPS

93.87

89.42

12.06

14.55

18.90

5.36

12.90

17.68

17.05

—

Dividend Payout %

13.15%

0.00%

38.53%

50.92%

49.84%

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Equity Capital

221

317

682

862

1,038

1,063

1,054

1,368

1,569

103

283

257

324

346

508

Trade Payables

194

643

811

1,005

1,123

Total Liabilities

362

482

939

1,146

1,591

2,038

2,287

2,829

3,313

104

141

316

253

507

459

515

520

663

Capital Work in Progress

138

194

351

536

512

787

959

121

101

143

174

139

565

Cash & Bank

119

168

238

389

487

543

935

1,113

1,336

966

Total Assets

362

482

939

1,146

1,591

2,038

2,287

2,829

3,313

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

130

101

124

272

318

287

460

617

483

Cash from Investing

-24

-22

-279

-163

-96

-88

-232

-110

Cash from Financing

-62

-16

224

-13

-141

-166

-410

-232

-362

-0

-3

-2

-3

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

74.97

74.96

74.95

74.94

9.04

9.53

10.54

10.14

9.88

9.76

9.29

8.28

7.95

11.89

11.57

10.38

10.59

11.10

10.95

12.00

12.62

13.19

Government

0.00

Public

4.10

3.94

4.13

4.32

4.06

4.35

3.76

4.15

3.91

Vedant Fashions Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Vedant Fashions Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI