Vadilal Industries Ltd.

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vadilalgroup.com / https://www.vadilalicecreams.com/BSE: 519156NSE: VADILALIND

Market Cap₹ 5,336 Cr.

Current Price

High / Low₹ 8,447 / 3,996

Stock P/E35.3

Book Value₹ 849

Price to Book5.84

Dividend Yield0.58 %

ROCE26.5 %

ROE21.2 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Fast Moving Consumer Goods

Hold

Rural demand proxies are mixed. Tractor sales rose 18.0% YoY (2026-07) and 2-wheelers were up 23.0% YoY (2026-06), but rural employment slowed to 1.0% YoY (2026-07), fertiliser sales were 0.0% YoY (2026-05), and food inflation of 5.52% (Jul/26) can pressure household budgets. FPI outflows remain heavy at INR -8081 crore over 3 months to 2026-08-31, limiting upside.

Confidence

62%

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PROS

Company has a healthy return on capital (ROCE) of 32.0%
Company has a good return on equity (ROE) track record: 3 Years ROE 29.8%
Latest quarter profit grew 99.7% YoY, showing strong momentum
Company has delivered good sales growth of 25.5% CAGR over last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.11x)
Company has been maintaining a healthy dividend payout of 31.5%

CONS

Stock is trading at 5.8x its book value
Expensive relative to growth - PEG of 3.2

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

Peer comparison

Fast Moving Consumer GoodsFMCGConsumer Food

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	NESTLEIND	1393.10	70.49	268633.47	0.86	9586.80	1382.67	63781.80	1157.04	98.35	23.86
2.	VBL	406.00	40.56	137328.07	0.37	1525.36	15.08	8650.57	20.77	20.73	27.04
3.	BRITANNIA	5099.50	47.17	122830.79	1.77	593.38	14.08	4999.97	10.26	56.48	16.77
4.	JUBLFOOD	475.50	72.30	31375.64	0.25	100.03	6.03	2569.65	13.66	25.56	19.77
5.	HATSUN	1199.95	76.74	26728.68	0.50	60.58	—	2363.72	17.61	17.40	10.81
6.	MILKYMIST	266.05	161.26	20481.68	0.00	646.79	—	9734.46	—	13.79	14.77
7.	ZYDUSWELL	555.10	93.84	17661.10	0.22	118.90	-7.04	1437.00	67.54	4.42	16.82
8.	DEVYANI	137.20	0.00	16915.93	0.00	17.10	667.68	1580.52	16.47	8.98	16.09
9.	LTFOODS	453.80	24.61	15758.34	0.66	1834.46	988.67	31518.31	1179.20	19.77	11.26
10.	BIKAJI	571.90	55.47	14339.61	0.22	59.47	1.62	734.26	15.26	21.65	13.48
11.	MANORAMA	2092.15	53.54	13206.15	0.04	78.66	67.55	404.01	39.53	35.00	26.29
12.	VADILALIND	7423.75	24.36	5336.07	0.58	130.91	95.45	680.06	34.42	28.26	24.44

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	355	229	129	199	402	233	145	232	425	247	140	295	584
	272	194	131	164	312	196	132	201	348	228	156	232	447
Operating Profit	83	35	-1	36	89	37	13	31	77	19	-16	63	137
OPM %	23.38%	15.35%	-1.10%	17.94%	22.25%	15.72%	8.91%	13.46%	18.02%	7.81%	-11.26%	21.32%	23.45%
	2	4	4	3	4	4	5	3	4	8	6	9	6
Interest	5	3	3	3	2	2	2	2	2	2	2	2	2
Depreciation	6	6	6	6	7	6	6	7	7	7	7	8	9
Profit before Tax	75	30	-6	30	84	33	10	26	72	18	-19	62	143
Tax %	25.18%	25.26%	25.13%	26.26%	25.27%	25.79%	26.40%	25.92%	25.40%	26.18%	24.28%	25.74%	25.31%
Net Profit	56	23	-4	22	63	24	7	19	53	13	-14	46	107
	77.85	31.46	-6.22	30.32	87.73	33.79	10.39	26.52	74.24	18.43	-19.87	63.55	148.26

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	473	515	507	517	357	544	897	913	1,014	1,110	1,267
	419	469	440	457	362	502	780	760	842	964	1,064
Operating Profit	54	46	67	60	-6	42	117	152	172	145	203
OPM %	11.50%	8.93%	13.13%	11.53%	-1.55%	7.79%	13.06%	16.67%	16.95%	13.08%	16.06%
	3	7	13	8	12	9	12	14	15	25	28
Interest	16	15	14	15	20	18	13	14	8	9	9
Depreciation	15	16	17	19	18	19	20	23	26	29	31
Profit before Tax	27	22	49	34	-32	14	96	129	153	132	203
Tax %	37.88%	33.24%	35.32%	6.52%	24.00%	26.89%	25.45%	25.46%	25.56%	25.82%	25.61%
Net Profit	17	15	31	32	-24	10	72	96	114	98	151
EPS	23.14	20.65	43.80	44.73	-33.53	14.39	100.09	133.30	158.39	136.31	—
Dividend Payout %	5.40%	6.05%	2.85%	0.00%	0.00%	8.69%	1.50%	1.13%	13.26%	31.54%	—

COMPOUNDED SALES GROWTH

10 Years:: 10%
5 Years:: 25%
3 Years:: 7%

COMPOUNDED PROFIT GROWTH

10 Years:: 21%
5 Years:: —
3 Years:: 11%

STOCK PRICE CAGR

10 Years:: 29%
5 Years:: 46%
3 Years:: 40%
1 Year:: 28%

RETURN ON EQUITY

10 Years:: 21%
5 Years:: 27%
3 Years:: 30%
Last Year:: 21%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	7	7	7	7	7	7	7	7	7	7
	152	166	196	227	203	212	282	375	488	572
	123	144	146	173	148	172	193	108	87	69
Trade Payables	83	76	65	81	102	72	78	79	103	104
	46	42	51	52	41	47	67	76	72	73
Total Liabilities	411	435	466	540	501	510	627	645	758	824
	250	254	262	301	300	293	301	337	343	330
Capital Work in Progress	5	7	13	9	5	3	19	11	8	19
	2	3	3	3	3	3	8	8	8	23
	120	97	118	146	126	143	223	190	235	218
	0	0	0	0	0	0	0	58	112	122
Cash & Bank	3	3	3	16	19	9	11	10	6	15
	32	71	66	66	48	59	65	31	45	98
Total Assets	411	435	466	540	501	510	627	645	758	824

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	50	23	54	58	62	-4	50	138	76	128
Cash from Investing	-23	-24	-29	-50	-10	-10	-42	-41	-28	-79
Cash from Financing	-20	6	-10	9	-50	9	12	-102	-47	-42
	0	-0	-0	6	2	-6	3	-5	1	7

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	64.73	64.73	64.73	64.73	64.73	64.73	64.72	64.72	64.73
	0.38	0.35	0.30	0.68	0.77	0.57	0.56	0.58	1.02
	0.00	0.05	0.00	0.00	0.44	0.47	0.42	0.42	1.26
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	34.89	34.88	34.97	34.59	34.07	34.23	34.29	34.27	32.99

Documents

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

2026-09-10

Shareholders meeting

2026-09-10 - Vadilal Industries Limited has informed the Exchange regarding Proceedings of undefined held on September 10, 2026

2026-08-18

Record Date

2026-08-18 - Vadilal Industries Limited has informed the Exchange that Record date for the Final Dividend for F.Y. 2025-26 is 03-Sep-2026.

2026-08-17

Shareholders meeting

2026-08-17 - Vadilal Industries Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 10, 2026

2026-08-12

Record Date

2026-08-12 - Vadilal Industries Limited has informed the Exchange that Record date for the purpose of Interim Dividend is 21-Aug-2026.

2026-08-12

Outcome of Board Meeting

2026-08-12 - Vadilal Industries Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026 .

2026-07-10

Credit Rating

2026-07-10 - Vadilal Industries Limited has informed the Exchange about Credit Rating

2026-07-07

Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-07 - Vadilal Industries Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-06-27

Trading Window

2026-06-27 - Vadilal Industries Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015

2026-05-27

General Updates

2026-05-27 - Vadilal Industries Limited has informed the Exchange about General Updates

News

Recent coverage and analyst commentary for VADILALIND

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