Virat Industries Ltd.

•

viratindustries.comBSE: -NSE: VIRAT

Market Cap₹ 637 Cr.

Current Price

High / Low₹ 494 / 268

Stock P/E102.9

Book Value₹ 91

Price to Book3.71

Dividend Yield0.00 %

ROCE8.5 %

ROE6.3 %

Face Value₹ 10

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ABOUT

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
Promoters have been increasing their shareholding - up 47.3pp over 2 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.05x)
Company comfortably covers its interest (127.4x coverage)

CONS

A large part of profit comes from other income (94.3% of PBT)
Company has a low return on capital employed of 5.8%
Company has a low return on equity of 4.3% over last 3 years
Working capital days have increased from 260 to 1723 days
Equity base is being diluted - shares outstanding up 195.0%
Operating margins have contracted to 3.6% from 8.1%

* 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	36184.20	53.40	40359.40	1.52	1928.06	860.21	14204.45	978.91	73.60	20.35
2.	KPRMILL	1170.30	43.85	40002.49	0.43	258.54	21.55	1935.52	14.77	20.16	19.37
3.	WELSPUNLIV	200.05	68.08	18899.77	0.05	162.61	82.09	2795.45	23.66	6.41	11.53
4.	VTL	587.40	20.06	17009.74	0.85	314.56	51.46	2703.08	13.31	8.91	18.11
5.	ARVIND	572.70	37.62	15579.77	0.79	57.77	5.61	2500.96	24.65	15.30	9.64
6.	MANYAVAR	542.70	32.73	13186.43	1.43	66.90	37.31	267.95	22.74	33.92	45.53
7.	PGIL	2358.75	35.11	10895.19	0.61	99.23	51.37	1528.26	24.46	22.42	10.72
8.	SWANCORP	284.90	39.94	8930.39	0.05	-35.99	-233.33	1013.75	-16.44	4.50	-0.38
9.	ICIL	447.65	58.76	8865.90	0.34	63.22	67.28	1206.96	25.89	8.73	11.88
10.	GARFIBRES	814.50	37.86	7953.46	1.10	64.60	21.56	482.37	31.35	20.98	18.70
11.	KUSUMGAR	570.25	60.97	5987.13	0.00	426.47	—	2472.47	—	26.15	30.50
12.	VIRAT	438.35	102.90	636.63	0.00	2.13	142.39	9.46	9.84	8.48	16.00

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
	10	8	8	6	6	12	6	8	9	7	6	5	95
	9	8	9	5	6	11	6	8	8	6	6	5	81
Operating Profit	1	1	-0	0	0	0	0	0	0	1	0	-0	15
OPM %	9.04%	7.03%	-2.60%	5.06%	7.51%	2.07%	5.23%	2.85%	3.48%	10.22%	4.79%	-7.25%	16.00%
Other Income	0	0	0	0	0	0	0	0	1	2	1	2	14
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	1
	1	0	-0	0	0	1	0	0	1	2	2	1	28
Tax %	21.74%	18.18%	-4.35%	23.08%	24.14%	25.00%	29.41%	26.09%	24.58%	24.48%	28.05%	27.08%	24.95%
Net Profit	1	0	-0	0	0	0	0	0	1	2	1	1	21
	1	1	-0	0	0	1	0	0	1	1	1	1	1
Equity Capital	5	5	5	5	5	5	5	5	15	15	15	15	145
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	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%

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
	26	34	24	26	20	25	38	32	32	27	28
	21	29	21	23	17	22	35	31	30	26	26
Operating Profit	6	7	3	4	3	3	4	3	2	7	—
OPM %	25	20	13	15	14	14	10	8	7	27	—
Other Income	2	2	0	1	1	0	1	1	1	6	7
Interest	0	0	0	0	0	0	0	0	0	0	0
Depreciation	1	2	2	2	2	2	2	1	1	1	0
	5	5	1	2	1	2	2	1	1	7	8
Tax %	30	30	39	26	14	22	26	27	25	26	26
Net Profit	4	3	1	1	1	1	2	1	1	5	6
EPS	0	0	0	3	2	3	3	2	2	3	—
Dividend Payout %	35	21	0	0	0	36	0	0	0	0	—
Minority Interest	0	0	0	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	0
Adjusted EPS	7	7	1	3	2	3	3	2	2	3	—

COMPOUNDED SALES GROWTH

10 Years:: 0%
5 Years:: 6%
3 Years:: -11%

COMPOUNDED PROFIT GROWTH

10 Years:: 5%
5 Years:: 44%
3 Years:: 45%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: —

RETURN ON EQUITY

10 Years:: 8%
5 Years:: 5%
3 Years:: 4%
Last Year:: 6%

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
LIABILITIES	-	-	-	-	-	-	-	-	-	-
Equity Capital	5	5	5	5	5	5	5	5	5	15
	14	16	15	17	18	19	20	21	22	116
	0	2	0	1	0	0	0	0	0	1
Trade Payables	2	4	2	2	1	2	4	2	2	2
	5	1	1	2	2	2	2	3	3	1
Total Liabilities	26	27	24	27	26	28	30	31	31	134
ASSETS	-	-	-	-	-	-	-	-	-	-
	9	11	10	9	7	6	5	5	4	3
Capital Work in Progress	0	1	0	0	0	0	0	0	0	0
	7	8	6	8	6	9	14	10	10	9
	0	0	0	0	0	0	5	5	5	4
Cash & Bank	3	1	1	3	6	6	4	8	7	115
	7	6	6	7	6	7	3	4	5	4
Total Assets	26	27	24	27	26	28	30	31	31	134
Total Debt	0	2	0	1	0	0	0	1	1	1
Net Working Capital	9	8	10	12	15	18	20	21	23	126
Contingent Liabilities	0	0	0	0	0	0	0	0	0	0
Book Value per Share	37.49	41.52	41.05	44.11	45.77	48.46	50.77	52.05	53.72	90.02
Face Value	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00

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
	2	2	3	1	4	0	-2	5	-1	3
Cash from Investing	-1	-3	-1	-2	0	0	0	-5	1	-47
Cash from Financing	-2	2	-2	1	-1	-0	-1	1	-0	100
	-1	0	-0	1	3	-0	-2	0	-0	55
Free Cash Flow	-1	-3	3	1	4	0	-2	4	-1	2
OCF / Net Profit	0.48	0.46	4.87	0.99	5.29	0.04	-1.06	6.88	-0.91	0.51
Cumulative 5-Year FCF	0	0	0	0	4	5	6	7	6	4

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
PER SHARE
EPS (₹)	7.16	7.05	1.31	3.01	1.61	2.75	3.29	1.54	1.84	3.40
Book Value (₹)	37.49	41.52	41.05	44.11	45.77	48.46	50.77	52.05	53.72	90.02
Dividend per Share (₹)	2.50	1.50	0.00	0.00	0.00	1.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	9.92	10.35	5.25	6.89	5.19	6.00	6.42	4.48	3.84	3.76
PROFITABILITY
Operating Margin %	25.24%	19.67%	12.83%	15.04%	14.03%	13.64%	8.10%	4.77%	3.86%	3.56%
Net Margin %	13.73%	10.18%	2.68%	5.62%	4.06%	5.48%	4.30%	2.34%	2.86%	18.43%
ROE %	21.19%	17.84%	3.19%	7.08%	3.59%	5.83%	6.64%	3.00%	3.47%	6.28%
ROCE %	29.76%	24.54%	5.37%	9.40%	4.28%	7.49%	9.13%	4.23%	4.79%	8.48%
	13.90%	13.06%	2.53%	5.85%	3.05%	5.07%	5.58%	2.48%	2.91%	5.97%
EFFICIENCY
Debtor Days	18	26	46	48	73	59	41	53	59	64
Inventory Days	81	76	103	94	125	109	111	136	114	125
Payable Days	86	84	109	69	64	57	70	67	53	72
	14	18	40	72	134	112	83	122	119	117
FINANCIAL HEALTH
Debt to Equity (x)	0.02x	0.10x	0.02x	0.07x	0.01x	0.01x	0.01x	0.03x	0.02x	0.00x
Interest Coverage (x)	63.83x	37.65x	11.37x	38.88x	16.76x	53.30x	32.41x	20.18x	18.82x	127.39x
	4.31x	2.41x	3.96x	4.02x	6.94x	5.89x	4.71x	5.23x	6.01x	35.02x
GROWTH
Revenue Growth %	-0.31%	32.79%	-29.20%	9.32%	-25.85%	26.03%	52.84%	-13.96%	-2.46%	-15.28%
Operating Profit Growth %	12.81%	3.50%	-53.83%	28.19%	-30.86%	22.55%	12.62%	-32.99%	-10.64%	218.90%
Net Profit Growth %	16.78%	-1.53%	-81.35%	129.15%	-46.42%	70.11%	19.87%	-53.19%	19.20%	446.01%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	19.87%	-53.19%	19.20%	85.09%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	66.81x	94.08x	166.56x	98.22x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	4.33x	2.79x	5.70x	3.71x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	27.65x	25.26x	63.45x	51.31x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	27.20	27.20	27.20	27.20	74.55	74.55	74.55	74.55	74.55
	0.51	0.51	0.51	0.30	0.00	0.00	0.00	0.00	0.00
DIIs	0.00	0.00	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
	72.29	72.29	72.29	72.50	25.45	25.45	25.45	25.45	25.45

Documents

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

No announcements filed.

News

Recent coverage and analyst commentary for VIRAT

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Virat Industries Ltd.

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Name

PAGEIND

36184.20

53.40

40359.40

1.52

1928.06

860.21

14204.45

978.91

73.60

20.35

KPRMILL

1170.30

43.85

40002.49

0.43

258.54

21.55

1935.52

14.77

20.16

19.37

WELSPUNLIV

200.05

68.08

18899.77

0.05

162.61

82.09

2795.45

23.66

6.41

11.53

VTL

587.40

20.06

17009.74

0.85

314.56

51.46

2703.08

13.31

8.91

18.11

ARVIND

572.70

37.62

15579.77

0.79

57.77

5.61

2500.96

24.65

15.30

9.64

MANYAVAR

542.70

32.73

13186.43

1.43

66.90

37.31

267.95

22.74

33.92

45.53

PGIL

2358.75

35.11

10895.19

0.61

99.23

51.37

1528.26

24.46

22.42

10.72

SWANCORP

284.90

39.94

8930.39

0.05

-35.99

-233.33

1013.75

-16.44

4.50

-0.38

ICIL

447.65

58.76

8865.90

0.34

63.22

67.28

1206.96

25.89

8.73

11.88

GARFIBRES

814.50

37.86

7953.46

1.10

64.60

21.56

482.37

31.35

20.98

18.70

KUSUMGAR

570.25

60.97

5987.13

0.00

426.47

—

2472.47

—

26.15

30.50

VIRAT

438.35

102.90

636.63

0.00

2.13

142.39

9.46

9.84

8.48

16.00

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

Operating Profit

-0

OPM %

9.04%

7.03%

-2.60%

5.06%

7.51%

2.07%

5.23%

2.85%

3.48%

10.22%

4.79%

-7.25%

16.00%

Other Income

Interest

Depreciation

-0

Tax %

21.74%

18.18%

-4.35%

23.08%

24.14%

25.00%

29.41%

26.09%

24.58%

24.48%

28.05%

27.08%

24.95%

Net Profit

-0

Equity Capital

145

Reserves

Promoter Pledge %

0.00%

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

Operating Profit

—

OPM %

—

Other Income

Interest

Depreciation

Tax %

Net Profit

EPS

—

Dividend Payout %

—

Minority Interest

Share of Associates

Adjusted EPS

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

LIABILITIES

Equity Capital

116

Trade Payables

Total Liabilities

134

ASSETS

Capital Work in Progress

Cash & Bank

115

Total Assets

134

Total Debt

Net Working Capital

126

Contingent Liabilities

Book Value per Share

37.49

41.52

41.05

44.11

45.77

48.46

50.77

52.05

53.72

90.02

Face Value

10.00

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-2

-1

Cash from Investing

-1

-3

-1

-2

-5

-47

Cash from Financing

-2

-1

-0

-1

-0

100

-1

-0

-2

-0

Free Cash Flow

-1

-3

-2

-1

OCF / Net Profit

0.48

0.46

4.87

0.99

5.29

0.04

-1.06

6.88

-0.91

0.51

Cumulative 5-Year FCF

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

PER SHARE

EPS (₹)

7.16

7.05

1.31

3.01

1.61

2.75

3.29

1.54

1.84

3.40

Book Value (₹)

37.49

41.52

41.05

44.11

45.77

48.46

50.77

52.05

53.72

90.02

Dividend per Share (₹)

2.50

1.50

0.00

1.00

0.00

Cash EPS (₹)

9.92

10.35

5.25

6.89

5.19

6.00

6.42

4.48

3.84

3.76

PROFITABILITY

Operating Margin %

25.24%

19.67%

12.83%

15.04%

14.03%

13.64%

8.10%

4.77%

3.86%

3.56%

Net Margin %

13.73%

10.18%

2.68%

5.62%

4.06%

5.48%

4.30%

2.34%

2.86%

18.43%

ROE %

21.19%

17.84%

3.19%

7.08%

3.59%

5.83%

6.64%

3.00%

3.47%

6.28%

ROCE %

29.76%

24.54%

5.37%

9.40%

4.28%

7.49%

9.13%

4.23%

4.79%

8.48%

13.90%

13.06%

2.53%

5.85%

3.05%

5.07%

5.58%

2.48%

2.91%

5.97%

EFFICIENCY

Debtor Days

Inventory Days

103

125

109

111

136

114

125

Payable Days

109

134

112

122

119

117

FINANCIAL HEALTH

Debt to Equity (x)

0.02x

0.10x

0.02x

0.07x

0.01x

0.03x

0.02x

0.00x

Interest Coverage (x)

63.83x

37.65x

11.37x

38.88x

16.76x

53.30x

32.41x

20.18x

18.82x

127.39x

4.31x

2.41x

3.96x

4.02x

6.94x

5.89x

4.71x

5.23x

6.01x

35.02x

GROWTH

Revenue Growth %

-0.31%

32.79%

-29.20%

9.32%

-25.85%

26.03%

52.84%

-13.96%

-2.46%

-15.28%

Operating Profit Growth %

12.81%

3.50%

-53.83%

28.19%

-30.86%

22.55%

12.62%

-32.99%

-10.64%

218.90%

Net Profit Growth %

16.78%

-1.53%

-81.35%

129.15%

-46.42%

70.11%

19.87%

-53.19%

19.20%

446.01%

0.00%

19.87%

-53.19%

19.20%

85.09%

VALUATION

P/E (x)

0.00x

66.81x

94.08x

166.56x

98.22x

P/B (x)

0.00x

4.33x

2.79x

5.70x

3.71x

Dividend Yield %

0.00%

0.00x

27.65x

25.26x

63.45x

51.31x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

27.20

74.55

0.51

0.30

0.00

DIIs

0.00

Government

0.00

72.29

72.50

25.45

Virat Industries Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

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Virat Industries 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