Varvee Global Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2024 • Textile: 100.0%
AI Sector View
AI GENERATEDTextiles
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.
PROS
- Working capital cycle has improved - days down from 30 to -468
- Company generates healthy free cash flow
CONS
- Company is loss-making at the operating / net level
- Company has a high debt-to-equity of 2.64x
- A large part of profit comes from other income (426.5% of PBT)
- Recent results are weak - TTM profit is down 155.7% versus prior year
- Company has a low return on equity of -39.1% over last 3 years
- Company has a low return on capital employed of 0.6%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SIYSIL | 553.60 | 10.59 | 2511.69 | 2.89 | 11.01 | 137.31 | 445.66 | 14.42 | 20.46 | 4.05 |
| UNITEDPOLY | 42.61 | 35.80 | 977.97 | 0.00 | 7.82 | 31.87 | 179.85 | 23.03 | 15.11 | 6.90 |
| VTMLTD | 56.49 | 66.63 | 568.11 | 0.00 | 19.32 | 319.54 | 984.04 | 1266.97 | 4.55 | 5.92 |
| MANOMAY | 233.10 | 20.89 | 420.72 | 0.00 | 4.95 | 11.28 | 197.51 | 20.48 | 12.74 | 10.01 |
| VGL | 53.91 | 0.00 | 277.79 | 0.00 | 78.81 | — | 1179.33 | — | 21.49 | 14.91 |
| JASCHIND | 295.00 | 8.91 | 200.54 | 0.00 | 5.07 | -4.97 | 59.32 | -3.79 | 19.22 | 11.43 |
| BSL | 123.55 | 35.01 | 127.16 | 0.00 | 1.72 | 266.38 | 169.72 | 7.41 | 6.01 | 8.42 |
| KGDENIM | 14.13 | 3.20 | 36.23 | 0.00 | 8.44 | 359.69 | 4.86 | -64.71 | -7.29 | -86.21 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 10 | 25 | 26 | 24 | 14 | 15 | 6 | 8 | -1 | 28 | 12 | 23 | 8 | |
| 21 | 31 | 35 | 29 | 24 | 20 | 29 | 59 | 1 | 14 | 14 | 29 | 16 | |
| Operating Profit | -11 | -6 | -9 | -5 | -11 | -5 | -23 | -52 | -1 | 14 | -1 | -6 | -7 |
| OPM % | -101.54% | -24.87% | -35.85% | -22.29% | -80.78% | -30.17% | -380.47% | -689.33% | 203.64% | 49.73% | -12.11% | -25.19% | -90.82% |
| 0 | 2 | 3 | 1 | 45 | 34 | 23 | 38 | 7 | 6 | 22 | -15 | 1 | |
| Interest | 10 | 12 | 8 | 7 | 5 | 4 | 2 | 1 | 1 | 0 | 0 | 0 | 0 |
| Depreciation | 6 | 3 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 2 | 1 |
| Profit before Tax | -27 | -18 | -15 | -13 | 28 | 25 | -3 | -16 | 3 | 19 | 19 | -23 | -7 |
| Tax % | 31.20% | 28.97% | 56.35% | 48.57% | 18.54% | 66.48% | -102.03% | 44.98% | -674.77% | 45.72% | 71.77% | -26.28% | 4.56% |
| Net Profit | -19 | -13 | -7 | -6 | 23 | 8 | -7 | -9 | 25 | 10 | 5 | -29 | -7 |
| -7.92 | -5.53 | -2.81 | -2.75 | 9.63 | 3.52 | -2.96 | -1.89 | 9.89 | 3.96 | 7.36 | -8.32 | -1.27 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 841 | 844 | 827 | 752 | 565 | 265 | 421 | 261 | 85 | 42 | 72 | |
| 764 | 772 | 747 | 669 | 531 | 285 | 431 | 289 | 116 | 132 | 73 | |
| Operating Profit | 77 | 72 | 80 | 82 | 34 | -20 | -10 | -28 | -31 | -90 | -1 |
| OPM % | 9.19% | 8.54% | 9.70% | 10.94% | 6.03% | -7.44% | -2.45% | -10.80% | -36.84% | -211.83% | -1.42% |
| -1 | 2 | 3 | 3 | 2 | 6 | 4 | 3 | 7 | 140 | 14 | |
| Interest | 37 | 38 | 43 | 49 | 53 | 51 | 43 | 46 | 37 | 13 | 0 |
| Depreciation | 31 | 33 | 33 | 34 | 38 | 28 | 25 | 25 | 12 | 4 | 5 |
| Profit before Tax | 8 | 3 | 6 | 2 | -56 | -93 | -75 | -97 | -73 | 33 | 8 |
| Tax % | 16.93% | 34.91% | 12.02% | 36.94% | 24.49% | 24.83% | 16.99% | 28.31% | 38.85% | 43.48% | 337.42% |
| Net Profit | 7 | 2 | 6 | 1 | -42 | -70 | -63 | -69 | -45 | 19 | -20 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -27.36 | -18.00 | -27.73 | -19.02 | 7.90 | — |
| 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:
- -25%
- 5 Years:
- -40%
- 3 Years:
- -53%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 58%
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- 4%
- 5 Years:
- 43%
- 3 Years:
- 60%
- 1 Year:
- -35%
RETURN ON EQUITY
- 10 Years:
- -21%
- 5 Years:
- -39%
- 3 Years:
- -39%
- Last Year:
- 70%
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 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 |
| 240 | 243 | 248 | 250 | 208 | 144 | 103 | 38 | -6 | 12 | |
| 386 | 362 | 386 | 440 | 425 | 434 | 414 | 397 | 248 | 82 | |
| Trade Payables | 125 | 152 | 208 | 197 | 158 | 87 | 77 | 57 | 52 | 18 |
| 49 | 51 | 54 | 38 | 28 | 20 | -12 | -41 | 40 | 1 | |
| Total Liabilities | 825 | 831 | 919 | 949 | 843 | 708 | 604 | 474 | 357 | 137 |
| 367 | 375 | 363 | 389 | 350 | 274 | 231 | 202 | 72 | 68 | |
| Capital Work in Progress | 1 | 5 | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 0 |
| 177 | 159 | 200 | 223 | 222 | 154 | 156 | 121 | 90 | 8 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 100 | 8 | |
| Cash & Bank | 14 | 19 | 23 | 18 | 11 | 20 | 16 | 7 | 2 | 15 |
| 266 | 274 | 333 | 319 | 259 | 261 | 200 | 143 | 93 | 38 | |
| Total Assets | 825 | 831 | 919 | 949 | 843 | 708 | 604 | 474 | 357 | 137 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 77 | 111 | 38 | 52 | 65 | 44 | 13 | 40 | 110 | 27 | |
| Cash from Investing | -38 | -50 | -19 | -53 | 5 | 9 | 47 | 13 | 46 | 182 |
| Cash from Financing | -33 | -63 | -19 | 3 | -70 | -42 | -63 | -62 | -156 | -196 |
| 5 | -3 | 0 | 0 | -1 | 12 | -4 | -10 | 0 | 13 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-04 - VARVEE GLOBAL LIMITED has informed the Exchange about Copy of Newspaper Publication
2026-09-03 - The Exchange has sought clarification from VARVEE GLOBAL LIMITED for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company is required to clarify the following: The response of the Company is awaited.
2026-09-03 - VARVEE GLOBAL LIMITED has informed the Exchange regarding 'Intimation of Cut-Off Date for E-voting'.
2026-09-03 - VARVEE GLOBAL LIMITED has informed the Exchange regarding Notice of Annual General Meeting to be held on September 30, 2026
2026-09-02 - VARVEE GLOBAL LIMITED has informed the Exchange regarding Outcome of Board Meeting held on September 02, 2026.
2026-08-14 - VARVEE GLOBAL LIMITED has informed the Exchange about Copy of Newspaper Publication of the Un audited Financial Result for the First Quarter Ended 30th June 2026
2026-08-12 - VARVEE GLOBAL LIMITED has informed the Exchange about Change in Company Secretary/Compliance Officer i.e. CS Pooja Hemang Khakhi has been appointed as Senior Management Personnel designated as KMP and Nodal Officer of the company
2026-08-12 - VARVEE GLOBAL LIMITED has informed the Exchange regarding Appointment of CS Pooja Hemang Khakhi as Company Secretary & Compliance Officer of the company w.e.f. August 12, 2026.
2026-08-12 - Submission of unaudited financial Results for quarter ended on 30th June, 2026 along with the limited review report
News
Recent coverage and analyst commentary for VGL
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Varvee Global Ltd.
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