Vardhman Polytex Ltd.

•

vpl.inBSE: 514175NSE: VARDMNPOLY

Market Cap₹ 283 Cr.

Current Price

High / Low₹ 9 / 5

Stock P/E0.9

Book Value₹ 2

Price to Book-1.61

Dividend Yield0.00 %

ROCE0.0 %

ROE0.0 %

Face Value₹ 1

Add ratio to table

ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • Textile Business: 100.0%

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
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 6.94x)
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
Receivables are growing faster than sales - a possible quality concern
Operating cash flow has been negative in recent years
A large part of profit comes from other income (174.9% of PBT)
Company has a low return on equity of 0.0% over last 3 years
Promoter holding has decreased over last 2 years: -11.6pp

* 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

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
	136	101	61	74	64	64	75	81	60	62	51	65	61
	139	121	78	75	73	68	49	83	58	51	50	63	67
Operating Profit	-3	-20	-18	-1	-9	-4	27	-2	2	11	0	2	-7
OPM %	-2.34%	-20.12%	-28.83%	-1.29%	-14.10%	-5.90%	35.41%	-2.41%	2.80%	17.43%	0.22%	2.59%	-10.76%
	20	2	3	5	5	9	3	9	4	2	2	1	-301
Interest	13	13	-23	0	4	3	4	3	4	4	0	1	4
Depreciation	3	3	3	2	2	2	2	2	2	2	2	2	2
Profit before Tax	1	-34	5	1	-11	1	24	1	0	6	0	1	311
Tax %	0.00%	-0.00%	0.00%	0.00%	-0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Profit	1	-34	5	1	-11	1	24	1	0	6	0	1	311
	0.47	-1.51	2.23	0.04	-0.39	0.02	0.68	0.02	0.00	0.14	0.00	0.02	6.44

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	878	859	621	811	561	508	929	616	371	285	238
	816	793	662	810	562	494	870	652	418	273	232
Operating Profit	62	66	-41	1	-2	14	59	-36	-47	12	6
OPM %	7.01%	7.72%	-6.62%	0.12%	-0.30%	2.80%	6.31%	-5.89%	-12.68%	4.18%	2.53%
	50	15	-294	3	179	3	4	103	34	26	-296
Interest	74	62	68	60	60	59	64	53	3	14	9
Depreciation	28	21	21	18	16	15	14	12	10	9	7
Profit before Tax	9	-1	-424	-74	102	-57	-16	1	-27	15	319
Tax %	0.00%	-0.00%	-0.00%	-0.00%	0.00%	-0.00%	-0.00%	0.00%	-0.00%	0.00%	0.00%
Net Profit	9	-1	-424	-74	102	-57	-16	1	-27	15	319
EPS	4.04	-0.30	-190.16	-33.32	45.66	-25.43	-6.98	0.67	-9.81	0.33	—
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:: -11%
5 Years:: -13%
3 Years:: -33%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: -32%
3 Years:: —

STOCK PRICE CAGR

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

RETURN ON EQUITY

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

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	22	22	22	22	22	22	22	22	27	46
	85	85	-339	-414	-313	-370	-386	-385	-396	-289
	405	404	448	446	490	523	529	447	382	341
Trade Payables	64	69	41	44	62	75	101	143	186	97
	16	-5	173	175	1	5	10	13	27	31
Total Liabilities	592	575	345	274	262	255	276	241	225	226
	239	238	224	206	191	178	165	154	129	113
Capital Work in Progress	7	5	3	0	0	0	0	0	0	3
	92	92	0	0	0	0	0	0	0	0
	73	77	43	21	21	19	44	16	17	44
	0	0	0	0	0	0	0	0	0	4
Cash & Bank	6	7	2	0	0	0	0	0	1	0
	175	156	74	46	51	58	67	71	79	61
Total Assets	592	575	345	274	262	255	276	241	225	226

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	108	76	50	64	13	24	61	40	-14	-98
Cash from Investing	-7	-20	-5	-1	0	-1	-1	-1	26	31
Cash from Financing	-104	-55	-50	-64	-14	-23	-61	-39	-12	67
	-4	1	-5	-1	-0	-0	0	0	1	-1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025

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

News

Recent coverage and analyst commentary for VARDMNPOLY

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Vardhman Polytex Ltd.

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Free 5nance Account

Name

PAGEIND

35971.80

53.08

40122.49

1.53

192.81

-3.98

1420.45

7.89

73.60

20.35

KPRMILL

1134.85

42.52

38790.76

0.44

258.54

21.55

1935.52

14.77

20.16

19.37

WELSPUNLIV

207.65

70.66

19617.79

0.05

162.61

82.09

2795.45

23.66

6.41

11.53

VTL

583.75

19.94

16904.05

0.86

314.56

51.46

2703.08

13.31

8.91

18.11

ARVIND

581.35

38.19

15815.08

0.77

57.77

5.61

2500.96

24.65

15.30

9.64

MANYAVAR

579.35

34.94

14076.94

1.34

66.90

37.31

267.95

22.74

29.45

45.53

PGIL

2366.40

35.22

10930.53

0.61

99.23

51.37

1528.26

24.46

22.42

10.72

ICIL

451.50

59.27

8942.15

0.33

63.22

67.28

1206.96

25.89

8.73

11.88

SWANCORP

276.75

38.80

8674.92

0.05

-35.99

-233.33

1013.75

-16.44

4.50

-0.38

GARFIBRES

819.05

38.07

7997.89

1.10

64.60

21.56

482.37

31.35

20.98

18.70

KUSUMGAR

565.75

60.49

5939.89

0.00

426.47

—

2472.47

—

26.15

30.50

VARDMNPOLY

5.86

0.89

283.05

0.00

-64.64

-357.24

2440.03

1514.63

0.00

4.92

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

136

101

139

121

Operating Profit

-3

-20

-18

-1

-9

-4

-2

-7

OPM %

-2.34%

-20.12%

-28.83%

-1.29%

-14.10%

-5.90%

35.41%

-2.41%

2.80%

17.43%

0.22%

2.59%

-10.76%

-301

Interest

-23

Depreciation

Profit before Tax

-34

-11

311

Tax %

0.00%

-0.00%

0.00%

-0.00%

0.00%

Net Profit

-34

-11

311

0.47

-1.51

2.23

0.04

-0.39

0.02

0.68

0.02

0.00

0.14

0.00

0.02

6.44

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

878

859

621

811

561

508

929

616

371

285

238

816

793

662

810

562

494

870

652

418

273

232

Operating Profit

-41

-2

-36

-47

OPM %

7.01%

7.72%

-6.62%

0.12%

-0.30%

2.80%

6.31%

-5.89%

-12.68%

4.18%

2.53%

-294

179

103

-296

Interest

Depreciation

Profit before Tax

-1

-424

-74

102

-57

-16

-27

319

Tax %

0.00%

-0.00%

0.00%

-0.00%

0.00%

-0.00%

0.00%

Net Profit

-1

-424

-74

102

-57

-16

-27

319

EPS

4.04

-0.30

-190.16

-33.32

45.66

-25.43

-6.98

0.67

-9.81

0.33

—

Dividend Payout %

0.00%

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

-339

-414

-313

-370

-386

-385

-396

-289

405

404

448

446

490

523

529

447

382

341

Trade Payables

101

143

186

-5

173

175

Total Liabilities

592

575

345

274

262

255

276

241

225

226

239

238

224

206

191

178

165

154

129

113

Capital Work in Progress

Cash & Bank

175

156

Total Assets

592

575

345

274

262

255

276

241

225

226

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

108

-14

-98

Cash from Investing

-7

-20

-5

-1

Cash from Financing

-104

-55

-50

-64

-14

-23

-61

-39

-12

-4

-5

-1

-0

-1

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

49.14

30.76

34.22

37.50

37.51

0.24

0.32

0.64

0.54

0.21

0.33

0.46

5.62

0.01

0.00

Government

0.00

50.61

50.54

68.60

65.24

65.57

65.45

65.32

56.87

Vardhman Polytex 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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Vardhman Polytex 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