Vardhman Polytex Ltd.

•

vpl.inBSE: 514175NSE: VARDMNPOLY

Market Cap₹ 283 Cr.

Current Price

High / Low₹ 9 / 5

Stock P/E—

Book Value—

Price to Book—

Dividend Yield0.00 %

ROCE28.6 %

ROE0.0 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2017 • Textile Business: 95.7% • Real Estate Business: 4.3%

AI Sector View

AI GENERATED

Textiles

Hold

This sector relies on indirect export proxies rather than direct textile production data. Exports of goods rose 15.0% YoY (2026-06), the currency is weak at 95.23 (Sep/26), and export prices are 163.50, all of which can help exporters, though terms of trade at 102.30 are below the prior 114 in the snapshot context. FPI flows are modestly positive at INR 256 crore over 3 months to 2026-08-31, so the stance is mildly constructive but confidence is capped due to proxy reliance.

Confidence

50%

View full sector analysis →

PROS

Company is almost debt free
Company has a healthy return on capital (ROCE) of 52.5%
Operating margins have improved to 6.7% from 0.5%
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 3.34x)
Institutional investors have been accumulating - FII+DII up 5.4pp
Company generates healthy free cash flow

CONS

Net worth is negative - accumulated losses have eroded equity
Company is loss-making at the operating / net level
Company has a low return on equity of 0.0% over last 3 years
Promoter holding has decreased over last 2 years: -11.6pp
Interest coverage is weak at 0.8x - earnings barely cover interest

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

Peer comparison

TextilesTextileTextile

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

S.No.	Name
1.	PAGEIND	35971.80	53.08	40122.49	1.53	192.81	-3.98	1420.45	7.89	73.60	20.35
2.	KPRMILL	1134.85	42.52	38790.76	0.44	258.54	21.55	1935.52	14.77	20.16	19.37
3.	WELSPUNLIV	207.65	70.66	19617.79	0.05	162.61	82.09	2795.45	23.66	6.41	11.53
4.	VTL	583.75	19.94	16904.05	0.86	314.56	51.46	2703.08	13.31	8.91	18.11
5.	ARVIND	581.35	38.19	15815.08	0.77	57.77	5.61	2500.96	24.65	15.30	9.64
6.	MANYAVAR	579.35	34.94	14076.94	1.34	66.90	37.31	267.95	22.74	29.45	45.53
7.	PGIL	2366.40	35.22	10930.53	0.61	99.23	51.37	1528.26	24.46	22.42	10.72
8.	ICIL	451.50	59.27	8942.15	0.33	63.22	67.28	1206.96	25.89	8.73	11.88
9.	SWANCORP	276.75	38.80	8674.92	0.05	-35.99	-233.33	1013.75	-16.44	4.50	-0.38
10.	GARFIBRES	819.05	38.07	7997.89	1.10	64.60	21.56	482.37	31.35	20.98	18.70
11.	KUSUMGAR	565.75	60.49	5939.89	0.00	426.47	—	2472.47	—	26.15	30.50
12.	VARDMNPOLY	5.86	0.89	283.05	0.00	-64.64	-357.24	2440.03	1514.63	0.00	4.92

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021
	428	1,206	1,511	1,940	1,916	2,151	2,440
	650	1,411	1,659	1,958	1,926	2,181	2,512
Operating Profit	-222	-205	-148	-18	-10	-30	-72
OPM %	-51.85%	-16.98%	-9.79%	-0.94%	-0.54%	-1.38%	-2.97%
	7	6	7	6	6	11	8
Interest	154	165	111	160	152	158	158
Depreciation	37	39	35	36	35	35	34
Profit before Tax	-215	-198	-141	-12	-4	-18	-65
Tax %	-0.00%	-0.04%	-0.03%	-0.34%	-0.90%	-0.22%	-0.00%
Net Profit	-215	-198	-141	-12	-4	-18	-65
	-9.66	-8.90	-6.34	-0.53	-0.20	-0.82	-2.90

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	TTM
	943	1,054	1,021	954	925	641	811	561	509	929	8,447
	841	950	952	892	864	701	809	562	494	870	8,577
Operating Profit	102	104	69	62	62	-60	1	-2	14	59	-131
OPM %	10.78%	9.84%	6.79%	6.47%	6.67%	-9.43%	0.16%	-0.28%	2.83%	6.31%	-1.55%
	13	24	-10	52	13	4	3	179	3	4	31
Interest	76	88	91	90	78	85	60	60	59	64	628
Depreciation	52	48	42	38	30	30	18	16	15	14	140
Profit before Tax	-13	-8	-74	-15	-33	-172	-74	102	-57	-15	-99
Tax %	47.87%	18.20%	39.53%	-0.07%	-0.04%	-0.01%	-0.02%	0.01%	-0.03%	-0.05%	-0.12%
Net Profit	-7	-6	-45	-15	-33	-172	-74	102	-57	-16	-99
EPS	-3.05	-3.10	-21.51	-6.73	-15.01	-77.01	-33.20	45.68	-25.43	-6.96	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 1%
5 Years:: 0%
3 Years:: 5%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: 5%
5 Years:: 23%
3 Years:: 2%
1 Year:: -35%

RETURN ON EQUITY

10 Years:: -19%
5 Years:: 0%
3 Years:: 0%
Last Year:: 0%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
	18	20	22	22	22	22	22	22	22	22
	20	23	-6	-52	-86	-258	-414	-313	-371	-386
	647	601	582	534	525	569	446	490	523	529
Trade Payables	82	87	82	76	82	52	45	62	75	101
	40	86	57	60	62	77	175	1	5	10
Total Liabilities	807	816	738	640	605	463	274	262	255	276
	517	490	397	368	358	335	206	191	178	165
Capital Work in Progress	14	8	4	7	7	3	0	0	0	0
	3	8	0	0	0	0	0	0	0	0
	74	105	154	86	88	44	21	21	19	44
	0	0	0	0	0	0	0	0	0	0
Cash & Bank	27	14	10	9	9	4	0	0	0	0
	172	190	172	170	143	77	46	51	58	67
Total Assets	807	816	738	640	605	463	274	262	255	276

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
	90	71	85	109	92	51	134	13	24	61
Cash from Investing	-2	-11	2	-7	-24	-5	114	0	-1	-1
Cash from Financing	-70	-72	-90	-103	-68	-51	-251	-14	-23	-61
	18	-12	-4	-1	-0	-5	-4	-0	-0	0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	49.14	49.14	30.76	34.22	34.22	34.22	34.22	37.50	37.51
	0.24	0.32	0.64	0.54	0.21	0.33	0.46	5.62	5.62
	0.01	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	50.61	50.54	68.60	65.24	65.57	65.45	65.32	56.87	56.87

Documents

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

2026-09-09

Issue of Securities

2026-09-09 - Vardhman Polytex Limited has informed the Exchange about allotment of 10625000 Securities (equity shares upon conversion of warrants).

2026-09-09

Allotment of Securities

2026-09-09 - Vardhman Polytex Limited has informed the Exchange regarding allotment of 10625000 securities (equity shares on conversion of warrants) pursuant to Preferential Issue at its meeting held on September 09, 2026

2026-09-09

Outcome of Board Meeting

2026-09-09 - Vardhman Polytex Limited has informed the Exchange regarding Outcome of Board Meeting held on September 09, 2026 for allotment of 10625000 equity shares on conversion of warrants.

2026-09-03

Copy of Newspaper Publication

2026-09-03 - Vardhman Polytex Limited has informed the Exchange about Copy of Newspaper Publication with regard to Notice of ensuing AGM.

2026-08-31

Shareholders meeting

2026-08-31 - Vardhman Polytex Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 24, 2026 and Annual Report 2026.

2026-08-21

Updates

2026-08-21 - Vardhman Polytex Limited has informed the Exchange regarding 'Disclosure under Regulation 30 of SEBI LODR-Material Development in Litigation Proceedings'.

2026-08-12

Copy of Newspaper Publication

2026-08-12 - Vardhman Polytex Limited has informed the Exchange about Copy of Newspaper Publication of financial results for the quarter ended 30 June, 2026.

2026-08-11

Press Release

2026-08-11 - Vardhman Polytex Limited has informed the Exchange regarding a press release dated August 11, 2026, titled "Press release regarding quarterly financial results- June 2026".

2026-08-10

Statement of deviation(s) or variation(s) under Reg. 32

2026-08-10 - Vardhman Polytex Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32

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