Vardhman Textiles Ltd.

•

vardhman.comBSE: 502986NSE: VTL

Market Cap₹ 16,882 Cr.

Current Price

High / Low₹ 688 / 386

Stock P/E19.9

Book Value₹ 373

Price to Book1.42

Dividend Yield0.86 %

ROCE8.9 %

ROE7.4 %

Face Value₹ 2

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Textiles: 96.8% • Fibre: 3.2%

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 has consistently been profitable over the last 5 years
Latest quarter profit grew 51.5% YoY, showing strong momentum
Company comfortably covers its interest (11.3x coverage)
Company has a consistent dividend-paying track record
Company generates healthy free cash flow
Company maintains a comfortable, low leverage position

CONS

Company has a low return on capital employed of 9.7%
Company has a low return on equity of 8.0% over last 3 years
Total debt has risen sharply - up 49.8% year on year
Growth is decelerating - 3Y profit CAGR (-2.2%) trails the 5Y trend (12.0%)

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

Peer comparison

TextilesTextileTextile

Part ofNIFTY TOTAL MKT NIFTY 500 NIFTY SMLCAP 250

S.No.	Name
1.	PAGEIND	35260.05	52.03	39328.62	1.56	192.81	-3.98	1420.45	7.89	73.60	20.35
2.	KPRMILL	1140.10	42.71	38970.21	0.44	258.54	21.55	1935.52	14.77	20.16	19.37
3.	WELSPUNLIV	210.60	71.67	19896.49	0.05	162.61	82.09	2795.45	23.66	6.41	11.53
4.	VTL	583.00	19.91	16882.33	0.86	314.56	51.46	2703.08	13.31	8.91	18.11
5.	ARVIND	571.85	37.56	15556.64	0.79	57.77	5.61	2500.96	24.65	15.30	9.64
6.	MANYAVAR	581.80	35.09	14136.47	1.33	66.90	37.31	267.95	22.74	29.45	45.53
7.	PGIL	2279.00	33.92	10526.82	0.64	99.23	51.37	1528.26	24.46	22.42	10.72
8.	ICIL	445.05	58.42	8814.41	0.34	63.22	67.28	1206.96	25.89	8.73	11.88
9.	SWANCORP	277.65	38.93	8703.13	0.05	-35.99	-233.33	1013.75	-16.44	4.50	-0.38
10.	GARFIBRES	815.65	37.92	7964.69	1.10	64.60	21.56	482.37	31.35	20.98	18.70
11.	KUSUMGAR	564.55	60.36	5927.29	0.00	426.47	—	2472.47	—	26.15	30.50
12.	GOKEX	784.15	55.81	5746.07	0.00	44.30	6.81	1153.51	20.69	9.10	9.75

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	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
	2,318	2,397	2,330	2,459	2,309	2,502	2,465	2,509	2,386	2,480	2,505	2,498	2,703
	2,103	2,192	2,085	2,151	1,961	2,187	2,153	2,222	2,060	2,146	2,221	2,204	2,379
Operating Profit	215	205	244	308	348	315	313	287	326	334	284	294	324
OPM %	9.29%	8.57%	10.48%	12.53%	15.07%	12.59%	12.69%	11.44%	13.65%	13.48%	11.35%	11.77%	11.99%
	94	90	75	67	66	82	68	120	70	37	58	58	78
Interest	32	22	19	29	18	18	19	23	23	21	26	23	23
Depreciation	105	104	99	97	97	100	101	103	109	114	118	123	126
Profit before Tax	173	169	200	250	299	279	262	280	264	237	198	206	418
Tax %	26.01%	24.66%	24.78%	24.77%	24.15%	33.38%	23.24%	19.70%	25.92%	25.80%	22.75%	13.26%	24.76%
Net Profit	0	0	0	0	240	197	212	238	208	188	168	189	315
	4.80	4.72	5.63	7.05	8.38	6.92	7.40	8.35	7.28	6.57	5.85	6.49	10.88

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	5,997	6,242	6,878	6,735	6,140	9,622	10,137	9,505	9,785	9,869	10,186
	4,798	5,339	5,684	5,798	5,326	7,348	8,814	8,531	8,522	8,630	8,949
Operating Profit	1,199	903	1,193	937	814	2,274	1,324	973	1,263	1,239	1,237
OPM %	20.00%	14.46%	17.35%	13.92%	13.26%	23.63%	13.06%	10.24%	12.91%	12.55%	12.14%
	554	197	223	174	202	225	192	326	336	223	231
Interest	129	118	120	135	113	100	102	102	77	92	93
Depreciation	343	240	254	333	364	368	394	405	401	465	481
Profit before Tax	1,318	760	1,059	655	559	2,071	1,060	835	1,168	955	1,059
Tax %	24.56%	22.01%	30.05%	9.84%	23.62%	25.10%	24.07%	23.74%	24.10%	21.14%	22.38%
Net Profit	994	592	741	591	427	1,551	805	637	887	753	822
EPS	163.11	105.48	128.19	101.45	73.26	54.42	27.95	22.20	31.05	26.19	—
Dividend Payout %	8.39%	14.56%	13.53%	0.00%	23.89%	12.49%	12.52%	18.02%	16.10%	19.09%	—

COMPOUNDED SALES GROWTH

10 Years:: 5%
5 Years:: 10%
3 Years:: -1%

COMPOUNDED PROFIT GROWTH

10 Years:: 2%
5 Years:: 12%
3 Years:: -2%

STOCK PRICE CAGR

10 Years:: 11%
5 Years:: 8%
3 Years:: 13%
1 Year:: 30%

RETURN ON EQUITY

10 Years:: 12%
5 Years:: 11%
3 Years:: 8%
Last Year:: 7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	55	56	56	57	57	57	57	57	57	57
Minority Interest	112	109	113	121	133	138	89	88	70	74
	4,218	4,886	5,519	5,977	6,394	7,642	8,506	9,043	9,831	10,444
	2,260	2,344	2,303	2,244	2,153	2,005	1,546	1,266	1,165	1,687
Trade Payables	245	291	316	357	299	396	360	358	497	497
	611	558	710	598	581	742	775	1,168	813	1,107
Total Liabilities	7,501	8,244	9,016	9,354	9,617	10,979	11,333	11,981	12,432	13,866
	2,591	2,631	3,201	3,628	3,529	3,494	3,937	3,769	4,150	5,094
Capital Work in Progress	49	106	274	142	78	241	51	61	252	586
	1,868	1,834	1,346	1,145	1,075	1,691	2,549	1,699	1,844	1,828
	1,753	2,257	2,610	2,681	2,796	2,882	2,393	4,180	3,761	3,643
	0	0	0	0	0	0	0	1,220	1,298	1,306
Cash & Bank	45	74	44	280	212	122	374	88	89	83
	1,196	1,343	1,542	1,478	1,928	2,549	2,028	964	1,038	1,324
Total Assets	7,501	8,244	9,016	9,354	9,617	10,979	11,333	11,981	12,432	13,866

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,659	315	756	963	214	1,962	2,118	-1,055	1,644	1,108
Cash from Investing	-343	-167	-278	-379	-116	-899	-1,445	1,104	-892	-1,516
Cash from Financing	-1,180	92	-252	-296	-174	-571	-399	-90	-733	398
	-173	28	-30	175	-122	-26	9	-41	19	-10

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	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
	64.19	64.19	64.21	64.22	64.21	64.21	64.44	65.09	65.08
	6.12	6.03	5.97	5.75	6.03	5.75	5.72	5.69	6.07
	16.65	16.59	16.71	16.72	16.58	16.43	16.34	16.01	14.69
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	13.04	13.19	13.11	13.31	13.19	13.61	13.50	13.20	14.16

Documents

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

2026-09-09

Updates

2026-09-09 - Vardhman Textiles Limited has informed the Exchange regarding 'Demat Report for the month ended August, 2026'.

2026-09-01

Allotment of Securities

2026-09-01 - Vardhman Textiles Limited has informed the Exchange regarding allotment of 101000 securities pursuant to ESOP/ESPS at its meeting held on September 01, 2026.

2026-08-26

General Updates

2026-08-26 - Vardhman Textiles Limited has informed the Exchange about dispatch of letter to the Members of the Company.

2026-08-26

Copy of Newspaper Publication

2026-08-26 - Vardhman Textiles Limited has informed the Exchange about Copy of Newspaper Publication.

2026-08-25

Updates

2026-08-25 - Vardhman Textiles Limited has informed the Exchange regarding 'BRSR for the FY 2025-26.'.

2026-08-25

Shareholders meeting

2026-08-25 - Vardhman Textiles Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 17, 2026.

2026-08-21

Copy of Newspaper Publication

2026-08-21 - Vardhman Textiles Limited has informed the Exchange about Copy of Newspaper Publication.

2026-08-20

Record Date

2026-08-20 - Vardhman Textiles Limited has informed the Exchange that Record date for the purpose of Dividend is 28-Aug-2026.

2026-08-18

Copy of Newspaper Publication

2026-08-18 - Vardhman Textiles Limited has informed the Exchange about Copy of Newspaper Publication.

News

Recent coverage and analyst commentary for VTL

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